comments by Bellingham Bill

Bellingham Bill   befriend   ignore   Thu, 26 Nov 2015, 3:48pm PST   Share   Quote   Like (2)   Dislike     Comment 1

yeah no more bankshots. give it to me, I'll get it into the economy without any drama.

Bellingham Bill   befriend   ignore   Fri, 6 Nov 2015, 6:15pm PST   Share   Quote   Like (2)   Dislike     Comment 2

religion is a pretty powerful mind-fuck, Dr Carson here being the typical advanced case.

Bellingham Bill   befriend   ignore   Fri, 6 Nov 2015, 6:11pm PST   Share   Quote   Like   Dislike     Comment 3

haven't bought gas in a month!

Bellingham Bill   befriend   ignore   Tue, 27 Oct 2015, 7:01am PDT   Share   Quote   Like   Dislike     Comment 4

errc says

They've made their bed on claiming intellectual supremacy over the idiots that vote GOP, for so long, that they got complacent, and now their smugness has come to bite them in the ass

that half the electorate has a room-temperature IQ on a good day is a fact of life.

I vote blindly democrat since the alternative is seeing shithead conservative republicans in office who actively destroy my country whenever they get the chance.

This is two-party electoral system -- Pick A, or B. If you pick C, D, E, etc. it doesn't matter -- A or B is going to win anyway.

So pick the A or B that is closer to your preferences.

Bellingham Bill   befriend   ignore   Fri, 23 Oct 2015, 3:22am PDT   Share   Quote   Like (1)   Dislike     Comment 5

Bellingham Bill   befriend   ignore   Sat, 17 Oct 2015, 10:22am PDT   Share   Quote   Like (1)   Dislike (1)     Comment 6

Dan8267 says

The Fed should have kept interest rates at 7% or more back in 2001 to 2010. There would have been no bubble or burst

No, the bad lending came from bad underwriting, bad appraising, bad bond rating, bad derivatives engineering, and bad due diligence.

funny thing all these bad actors doing these bad things made tons of money, the beauty of the un- or de- regulated free market.

8 million loans were foreclosed in the aftermath, and interest rate policy had JACK SHIT to do with that.

Tho Fed intervention did prevent ANOTHER 8 million loans from defaulting 2010-now.

8 million loans doesn't sound so bad until you do the math on $200,000 per of unrecoverable debt. That's a trillion or two.

Shows the $7T debt bubble we were sitting on going into the down cycle.

Now, the Fed was also responsible for policing our financial system, and that is something Greenspan and his cohorts utterly failed at, because markets cannot fail, only be failed.

Bellingham Bill   befriend   ignore   Wed, 14 Oct 2015, 8:16pm PDT   Share   Quote   Like   Dislike     Comment 7

Access to that which is necessary to become and remain a productive member of society should be more than a human right, it should be a good idea.

conservatives wouldn't understand a good idea if it bit them on the ass hahaha

they're not exactly idea people -- their ideology demands that they only think about what's in it for them.

Bellingham Bill   befriend   ignore   Sun, 11 Oct 2015, 8:45pm PDT   Share   Quote   Like   Dislike     Comment 8

I'm not intimately familiar with the details, but eventually $2T in Treasuries issued by the Treasury ended up in the Fed's hands, and they didn't spend money like we do to buy them.

shows 1/2009 the Fed's balance sheet stood at $2T on the asset side and $1.2T on the liabilities , for $800B of "reserve"

Five years later:

the reserve had grown to $2.5T. Don't know the details driving the Fed's balance sheet, i.e. if they bought something for $1T and liquidate it at $100B, they "lose" $900B but so what, lower assets value held by the Fed reduces their balance sheet which is what everyone wants apparently.

Thinking about the Fed's operations makes my head hurt, since they're really the 'man behind the curtain' in our economy.

Bellingham Bill   befriend   ignore   Sun, 11 Oct 2015, 3:21pm PDT   Share   Quote   Like (1)   Dislike     Comment 9

Time for tax cuts!

Bellingham Bill   befriend   ignore   Sun, 11 Oct 2015, 12:13pm PDT   Share   Quote   Like   Dislike     Comment 10

"with open contempt for anyone who questions militant feminism, the right to sodomy"

I have open contempt for anyone who attempts to run other peoples' private lives, and making sodomy illegal falls clearly into that category.

The SCOTUS majority's Lawrence decision was entirely correct, all laws a majority wants to have in effect must at least have a "rational basis".

Fear the Invisible Sky Man is going to collectively punish us for allowing gays to bugger themselves fails to clear this bar.

Funny thing is that it takes Fascism -- in the form of an unelected man in a robe -- Justice Kennedy -- telling the majority that their laws sucked.

Bellingham Bill   befriend   ignore   Sun, 11 Oct 2015, 12:03pm PDT   Share   Quote   Like (3)   Dislike (1)     Comment 11

The biggest lie of conservatives is that government is our enemy.

Enemy to them, since they're the ones who want to destroy this country -- the entire world in this case -- and only government can stop them.

Bellingham Bill   befriend   ignore   Sun, 11 Oct 2015, 11:28am PDT   Share   Quote   Like (1)   Dislike     Comment 12

Piketty was wrong in that he didn't understand or model the central importance of real estate in the economy.

This is by design, economics is not supposed to talk about real estate.

$2T (and that's just housing, we should add in commercial real estate too) of our economy, totally not important.

Bellingham Bill   befriend   ignore   Sun, 11 Oct 2015, 10:49am PDT   Share   Quote   Like (1)   Dislike     Comment 13


"He asked audience members to raise their hands if they were far from receiving Social Security, asked them if they knew yet what their initial benefit would be and then asked them if they would be bothered if it were a little lower for the good of the country."

Jesus. If there's long-term mismatch between pay-ins for Gen Y and what they're going to take out, to keep the program self-funding we should raise FICA rates now, not cut payouts! The actual math on this is small contribution rises now result in bigger payouts 30-50 years from now, not just from recapitalization of interest but the fact that people work 2-3X longer than they take out in retirement.

What is wrong with conservatives??? What is their mental damage that they can't do math???

This is totally separate from the next 20-odd years, in which we need to see the $2.8T currently in the SSTF spent down to $1T or so, as the baby boom ages from 51 to 69 now to say 72-90 in 2036. This is $50B/yr or so in higher income taxation the rich (above the FICA limit) should pay, an easy target would be:

Whenever I hear conservatives say this nation is broke, I check that chart.

People paying FICA for the past 30 years have been made to overpay by around $1.5T, so they shouldn't be seeing any FICA rises or benefit cuts, not while there's fucking TRILLIONS sitting in the SSTF!

Maybe 1 out of 100 people understand what the SSTF is. People listening to Fox and Rush have been totally bamboozled by right-wing propaganda factory (Heritage, Club For Growth, US COC, etc etc) lies about it, and the general corporate media doesn't want to enlighten people about it either since this $2.8T is basically the marker on how much rich people (who pay most of the income taxes in this country) owe the working people affected by the "Greenspan Deal" of 1983 . . .

Bellingham Bill   befriend   ignore   Sun, 11 Oct 2015, 10:37am PDT   Share   Quote   Like   Dislike (1)     Comment 14

"This is the explanation for the rise in inequality as Milanovic points out at the link above."'

globalism -- losing 7M mfg jobs since 1980 -- is contributing but is not "the" driver of inequality.

Trillion-dollar rents in housing and healthcare are much bigger asymmetric transfers from the working class to the rich here.

Bellingham Bill   befriend   ignore   Sun, 11 Oct 2015, 8:30am PDT   Share   Quote   Like   Dislike     Comment 15

But there is no compromise between the single-issue voters . . .

I don't want the Christian majority to persecute the gay minority again, even in CA we needed the courts to intervene.

The courts via Heller etc. have also recently walled-off gun control from majoritarian policy mechanisms.

Redistribution from rich to poor via government? Not much compromise there unless we're talking military spending, basically getting at best net zero wealth accretion for the investment.

Abortion availability? Not much use talking there.

If the GOP could dial back their war on non-white immigrants that'd be great, but racism (at least via chauvinism and me-ism) is a foundational driver in our own worldviews.

Everyone believes they are "best" and "different" cannot be better than me and mine.

To some extent this is a class issue, middle-class whites are getting exposed to if not flooded with lower-class populations that have different -- "lower" IMV -- standards of considerate public behavior. Stupid shit like people walking around with their underwear exposed, renters playing their tuba music at all hours, parking cars on their lawn, etc.

Outsourcing so many millions of our lower-skill jobs to overseas labor and automation gains are putting the lower-class lower-skill population in greater economic pressure, too.

shows how mfg, construction, and info jobs have gone from 20% of the working age population to 10% . . .

this is a pretty nasty vise being applied on the lower, "non-professional" classes.

Bellingham Bill   befriend   ignore   Sat, 10 Oct 2015, 8:45am PDT   Share   Quote   Like (1)   Dislike     Comment 16

In other words, it’s straightforward and quite stark: Republicans support big tax cuts for the wealthy because that’s what wealthy donors want. No doubt most of those donors have managed to convince themselves that what’s good for them is good for America. But at root it’s about rich people supporting politicians who will make them richer. Everything else is just rationalization.

And they're going to get over 60M people to vote for it next November. Unbelievable.

I'm kinda afraid of putting Bernie up against this next year.

To be a "socialist" requires seeing through decades and decades of right-wing bullshit / indoctrination.

Not many people here have that perspective, 20% or so -- the reactionary tea party types("Guns, God, teh Gays") certainly outnumber the true left in this country.

Bellingham Bill   befriend   ignore   Sat, 10 Oct 2015, 8:37am PDT   Share   Quote   Like (1)   Dislike     Comment 17

This is falsified data by the left-wing scientific climate alarmist conspiracy. They've been known to do that from time to time.

God-fearing Americans should continue listening to Rush, Fox News etc. to get the real facts about future climate enhancements being created by our first-world industries.

Bellingham Bill   befriend   ignore   Sat, 3 Oct 2015, 11:28am PDT   Share   Quote   Like (1)   Dislike     Comment 18

the basic asymmetry of boys vs girls is that girls have to deal with the consequences of pre-marital sex more than boys.


is why hydrogen cars suck, LOL

they were doing OK I guess until they put the engine in!

Bellingham Bill   befriend   ignore   Sun, 27 Sep 2015, 1:25pm PDT   Share   Quote   Like (2)   Dislike     Comment 19

Reality wants to talk about his bullshit not the GOP becoming [edit: more] unglued.

Bellingham Bill   befriend   ignore   Sun, 27 Sep 2015, 8:33am PDT   Share   Quote   Like   Dislike     Comment 20

As for Boehner, stunning that a mainstream political party is tearing itself apart like this.

They've got narrow majorities in the House, Senate, SCOTUS, and much of the judiciary.

Conservatives are 30-40% of the population. Just because they can take over the GOP and much of the periphery surrounding government (think tanks like AEI, Heritage, lobby groups like US Chamber of Commerce, Federalist Society, ALEC, media outlets like Fox & EIB, etc etc) -- doesn't mean they can take over the country like their Nazi counterparts did in Germany.

They're going to find this out the hard way I guess.

Then again, my understanding of electorates is that they are pretty slow on the take-up of what's really been going on, and as Lincoln said you can fool some of the people all of the time.

The blithely ignorant average media consumer is going to be exposed to a media mix in the political realm that is 40% outright conservative (Fox), 40% pro-corporate conservative (CNN), 10-20% center-left (the few leftish media shows here and there).

Progressives are a smaller bloc than conservatives so we're both fighting for the minds, such as they are, of the muddled middle.

Japan's progressive movement has been utterly beat down by the resilience and institutional power of their systemic conservative apparat, what van Wolferen called "The System" in his "The Enigma of Japanese Power".

Our "System" requires the voters to show up at the polls only every 4 years, if that. Less voting the better for the right wing, as the only power poor people can have in our society is at the ballot box. Wall that off and the rich are perfectly safe here.

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