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  • On 28 Nov 2014 in Fed "Mystified" Why Millennials Still Live at Home; My Answer May Surprise You, mell said:

    indigenous says

    Only mutts think the fed is anything but evil and stupid as something can be, and not be dead without government support.

    Heck yeah, who wouldn't take a cushy job making you uber-wealthy by taking part in an organization that has no oversight, where you can go to world affair meetings drinking $100 sparkling water and decide how to fuck over the worthless peasant savers through counterfeiting at will? It's the highest form of legalized crime.

  • On 28 Nov 2014 in Citibank Issues Full Attack on Gold as Save Our Swiss Gold Vote Nears, mell said:

    Blurtman says

    The Professor says

    Gold is just a big rock that only has value because people think it has value. Just like dollars.


    Its value may be inflated due to its appeal as jewelry and shiny bling, but it does have quite a few useful qualities, which gives it far more value than fiat money. Sure Silver or Platinum are likely more useful, but anything that has an intrinsic value, useful chemical properties and is difficult to counterfeit is superior to fiat as a lasting store of value.

  • On 26 Nov 2014 in Could someone be lying?, mell said:

    HydroCabron says

    mell says

    What is his profession anyway? Provided he has one.

    He's a gun owner

    I'm a gun owner.

    Where's my $$$$?

    AFAIK he sold his ISP business which was pretty successful back then. I don't always agree with KD (and he certainly has become a bit grumpy which may or may not come with age) but he'd eat most of the patnet armchair quarterbacks easily for breakfast.

  • On 26 Nov 2014 in Could someone be lying?, mell said:

    Straw Man says

    So Denninger is now a forensic expert too? How the fuck he knows what kind of damage there should or shouldn't be and what kind of damage there was in fact? He doesn't fucking know any of it.

    PS. What is his profession anyway? Provided he has one.

    He's a gun owner and advocate and used to run an ISP back in the days. I think it's a fair point but that doesn't mean there was enough evidence for an indictment. Note that he doesn't use the word racism anywhere.

    HydroCabron says

    ALL libertarians, by virtue of their study of von Mises, have PhDs in all fields. Randian contempt-superiority means that they are the only productive members of society, hence better qualified than the idiots who can't see their noses in front of their own faces.

    Mish, a mainframe programmer, has deep understanding of monetary policy, trade economics, infectious diseases, foreign affairs, and the history of the Crimea.

    More generally, all conservatives understanding the mathematics and evolution of pathogens better than the experts at the CDC.

    Each one of them certainly exhibits far more brainpower than all the idiots screaming "racism!" combined.

  • On 25 Nov 2014 in "American beer is just filthy water", mell said:

    Just go with German beer.

  • On 25 Nov 2014 in Funny picture thread, mell said:

    Ceffer says

    Thank God for the porn industry, or we might drop down to #10.

    Their mandatory testing and length of suspension on infection is so stringent that it's very likely not them.

  • On 25 Nov 2014 in Violence flares after no grand jury indictment in Michael Brown case, mell said:

    zzyzzx says

    Wouldn't it be better to have the Korean Grocers keeping looters out of the stores while the National Guard mows looters down from behind? A flanking maneuver like that should take care of more of 'em.

    That's the great thing about asian immigrants. They don't fuck around, the day they decide to gentrify their local ghetto it's lights out for looters. Asian neighborhoods are amongst the safest in the bay area.

  • On 25 Nov 2014 in Violence flares after no grand jury indictment in Michael Brown case, mell said:

    HydroCabron says

    zzyzzx says

    More importantly, why isn't the national guard there mowing down looters?

    Yeah. What's needed is more government.

    One would think that a private business would step in and provide security. They should let the free market take care of this.

    The Koreans did that during the LA riots. That guy who had his store looted again instead believed in and appealed to "human kindness". I suspect the 3rd time he will be armed with an M134. I prefer to uphold the rule of law with a well trained (not necessarily more) police force because you will be the first one screaming murder after the private security goons mowed down every single looter blackwater style without warning. This guy pays taxes, works hard and now has to rebuild his store the 2nd time, he deserves protection.

  • On 25 Nov 2014 in Ferguson: case closed!, mell said:

    Robert Sproul says

    Store owner who was robbed by Michael Brown had his store looted last night.

    Racist! ;)

  • On 25 Nov 2014 in Ferguson: case closed!, mell said:

    errc says

    It's beyond tragic that Americans are in uproar to the citizens of Ferguson reacting to police murdering a local kid with no repercussions. Yet those same Americans not only aren't speaking out against the fascist police state, they seem to be supporting their brutality. Bizarro world

    First, they came for the Jews , and I said nothing, Because I'm not a Jew

    Then, they came for the blacks, and I said nothing because I am not black

    I agree on the dangers of the police state but it has nothing to do with racism. Minority cops in the bay area will tell you the same thing, they are simply more afraid in problem districts and they know the crime statistics by race. We could start breaking that cycle with drug legalization which then wouldn't get people in problem and socially poor areas into prison into the first place. It's a start, be practical about it. Screaming racism accomplishes nothing.

  • On 24 Nov 2014 in Republicans Huff and Puff Over Obama's Executive Order, mell said:

    HydroCabron says

    Every libertarian I worked with - for some reason, our corporate offices are full of them, each talking about how they're the only libertarian in the village - supported the Afghanistan and Iraq wars. Every. Single. One.

    You are not working with Libertarians.

  • On 23 Nov 2014 in Sexism is Innate, mell said:

    Indiana Jones says

    Yet, just like sweet and fatty foods, is it right to let children indulge in these without limit? Just as we don't let children drink soda pop and eat candy bars all day, is it not the responsibility of the preceeding "adult" generations to teach the next generation of something more than just their lower, base nature, which is what these games and toys pander to?

    That's very different though. It is generally healthy for boys to strive for a body like Ken's, or for a girl for a body like Barbie's. Poisoning your kid with toxic food isn't.

  • On 23 Nov 2014 in Good man, mell said:

    HydroCabron says

    Non-interference is not a basis for an system of ethics.

    Sure it is, and it has a much better track record than interference.

    HydroCabron says

    So he doesn't want women to have to choose between: (a) being stay-at-home moms and taking a lower-paying job later; and (b) neglecting family life to stay on the career track.

    Why not? Men make that choice every day.

  • On 22 Nov 2014 in Poop map shows problem of homelessness, mell said:

    on the sidewalk and have some weak brushes attached. Once in a while you see APOCALYPSEFUCKisShostikovitch says

    Tell the homeless to shit in passing cars headed out of town. It will inspire drivers to keep traffic moving.

    And during open houses!

  • On 22 Nov 2014 in And The Person Responsible For Japan's Economic Endgame Is... Paul Krugman, mell said:

    There are two words that should strike fear in the hearts of any rational-thinking citizen of the world - Paul Krugman. Wondering why? As Alhambra's Jeff Snider notes, we already know of at least one respect where Krugman (as a stand-in at least for the Keynesian perspective that is somehow still widely shared, especially in the orthodox economist class) has impacted 'stimulus' activity, Sweden. And now his appearance in Japan enabled what Japanese economists call a "historic meeting," as Bloomberg reports that Abe met with the Nobel-prize winner for 40 minutes who "helped the prime minister make up his mind," that delaying the fiscally-responsible tax-hikes was the right thing to do (and increasing QQE) or Japan "wouldn’t escape deflation." Mission Accomplished... and if it fails, moar will be needed and 'capitalism' will be blamed.

    As Bloomberg reports, with a December deadline approaching, Prime Minister Shinzo Abe was considering whether to go ahead with a 2015 boost to the consumption levy. Evidence was mounting that the world’s third-largest economy was struggling to shake off the blow from raising the rate in April, which had triggered Japan’s deepest quarterly contraction since the global credit crisis...

    When Japanese economist Etsuro Honda heard that Paul Krugman was planning a visit to Tokyo, he saw an opportunity to seize the advantage in Japan’s sales-tax debate.

    Honda, 59, an academic who’s known Abe, 60, for three decades and serves as an economic adviser to the prime minister, had opposed the April move and was telling him to delay the next one. Enter Krugman, the Nobel laureate who had been writing columns on why a postponement was needed.

    Honda succeeded in organizing a 20-minute meeting between the prime minister and the U.S. economist. It went about double the allotted time.

    “That nailed Abe’s decision -- Krugman was Krugman, he was so powerful,” Honda said in an interview yesterday in the prime minister’s residence, where he has an office. “I call it a historic meeting.”


    Krugman plays down his role, saying the Nov. 6 meeting with Abe “was very straightforward.”

    “He had questions and I hope I answered them clearly,” Krugman said in a telephone interview yesterday. “I told him the kinds of things I’ve been writing -- I hope I made a good case. What effect it had on him is unknown to me. He’s certainly not going to blurt out ‘I’m sold.’”

    Following Abe’s Nov. 18 decision to postpone next year’s tax increase by 18 months, Krugman said: “I’m happy to see what they’re doing.”


    Hamada, who had advised Abe on his pick for Bank of Japan governor, said that “Abe listened to Krugman’s view very carefully.” Hamada said in an interview Nov. 18 that “he probably helped the prime minister make up his mind.”


    “He said we should be cautious this time in raising the sales tax and if we weren’t it would break the back of the economy,” Abe said. “He said if that happened, we wouldn’t escape deflation, it would be uncertain whether we could revive the economy and repair the nation’s finances. I think that’s the case.”
    * * *

    And scene...

    * * *
    However, Alhambra's Jeffrey Snider has strong opinions on just where this leads...

    In reviewing commentary about all the posturing in Japan preparing for what looks like, to me, an end of the recovery idea, there was one very alarming passage that I think may be important (and not just widely ridiculous) that ties together failure and the possible future course:

    Abe said yesterday he hadn’t decided whether to proceed with any snap election. He has said he’ll decide whether to raise the sales tax by the end of December. Nobel laureate in economics Paul Krugman last week met with the prime minister and urged him to postpone the increase, citing concern it could hurt the economy, according to Abe aide Etsuro Honda, who was present. [emphasis added]
    This goes along with something I flagged a little while back in my own, at least, growing sense of a Keynes revival. What I said then seems to be sadly coming toward fruition:

    That [the faltering global economy] seems to be a critique of all fiscal and monetary “stimulus” undertaken in the past seven years, and it is. But that setup is as my setup, mainly that the good doctor needed now, according to Peter Coy at Bloomberg, is Keynes. That would come as a major shock to almost everyone outside of the ideology as they might rightly ask whose theories have policymakers and authorities been following all this time?
    We already know of at least one respect where Krugman (as a stand-in at least for the Keynesian perspective that is somehow still widely shared, especially in the orthodox economist class) has impacted “stimulus” activity, so his appearance in Japan is not at least unique (of course, he may have been consulting all along in various locations but only now is that being used as something of a positive factor). The timing of this is not surprising, especially in the context of the growing and widespread acceptance of “secular stagnation.”

    In other words, Krugman’s primary critique has been to proclaim economic deficiency, which makes him look quite prescient. However, his basis for undercounting the “recovery narrative” is “austerity.” He has seen the lack of government spending in the past few years as the primary contribution to the weak growth environment. Now that the “weak growth environment” has become more widely accepted, not quite fully (yet) displacing the monetary-driven narrative, the danger is obvious.

    So the appearance of Krugman and this new(ish) affinity for Keynes is not that authorities have been ignoring Keynes’ philosophies for seven years (which cannot be claimed) but that they have not done “enough” Keynes to this point – which is Krugman’s main point of emphasis and has been all along.

    Within that framing the Bank of Japan should be doing even more QQE at the same time the Japanese government abandons any fiscal sense, scraps not just the future tax increase but likely the last while undertaking infrastructure “investments” (shovel ready, of course) on a biblical scale. In that sense, nobody probably should point out what Japan did in the 1990’s, as that probably wasn’t the “right” amount of Keynes either.

    We have been living in the age of Keynesianism reborn from crisis (which his theory contributed mightily toward), but now we are being told that though it may have been some Keynes it was not enough Keynes. Apparently, like QQE purchases of Japanese government bonds, there is a magic and sadly secret formula which in the exact right formulation delivers enchanted economic properties. For some reason, like every monetary point, central banks and governments keep falling short in their mixtures as the answer to all our problems is always more and more of it.
    As with a lot of changes taking place, there is a positive in that failure is not being ignored now as it had been uniformly in the past. Though certain “markets” don’t seem to be getting that message, that even the very practitioners of “stimulus” recognize if not its full failure then at least how far short it falls of intentions and expectations, it is a growing sense of nervousness groping for some answer. Unfortunately, the Krugman answer represents nothing more than the path of least resistance, as a way to maintain the status quo but still recognize reality.

    I suppose if the distance between these bouts of actual awareness is long enough, we could sadly be in for interchangeable failures of different pieces of statist intervention. We started with Keynesian government “stimulus” that relented to purely monetary “stimulus” and now seem to be heading back toward government spending once more. Once that inevitably fails, “they” will probably resurrect “Friedman” to replace “Keynes”, this time with the “right amount” of monetarism (rereading Chapter 11 in A Monetary History probably). And so it will go back and forth with nary a reference to the actual economy until the entire globe is encompassed in fullblown Japanification for a quarter century or more (which would be a depressing and desolate future, especially as past history surrounding desperate economic times almost always ends in significant conflagration – political history is really economic history without all the math).

    And “capitalism” will be blamed the entire time.

  • On 22 Nov 2014 in Top incomes soared as tax rates fell, mell said:

    Reality says

    Goes to show the futility of raising tax rate for the top income tax bracket, which is close to 40% and kicks in just below 0.5Mil, whereas these guys making on average 265Mil are paying only 18%.

    It's pointless to raise top income tax rate. The really rich can afford to buy tax lawyers, accountants, and even lawmakers, to give themselves exemptions. The higher the rate the more incentive for them to do just that.

    Agreed. The top quintile already pays almost all the taxes. Nothing except for a temporary direct levy on the uber-wealthy who could afford it (as compared to the wage-slaves) without risking a vertical slide and removing as many exemptions as possible (to minimize top lawyers exploiting every loophole) can really bring in more tax revenue without damaging the middle-class. Interestingly the Romney tax plan had some of those proposals, yet fanatic party-tribalism prevents people from critical thinking these days.

  • On 22 Nov 2014 in Liberals smarter, or more evolved ? Or both ?, mell said:

    SoftShell says

    I recommend going all in JCP.

    Black friday next week.

    IQ Test
    IQ Test

    This is damning evidence..

  • On 21 Nov 2014 in I'm liquidating all my stocks and going to cash, mell said:

    errc says

    Mell says " that's why his predictions of golds demise has failed as well"

    I'll give you the benefit of doubt that you weren't around here 7+ years ago, to know how silly that sounds. Iwog was saying that he was all in on gold by 750. He went public to sell pretty much exactly at the top. Then claimed it would crash down to 1000

    It's made it's way all the way down to 1150 so far. And your calling that a failed prediction?

    Haven't been on here for that long, but I have read that he sold gold at the top. Though I don't own any I disagree that Gold is going further down due to the central bank actions all around the world, and I never thought that it would reach $1000 or lower though it has come somewhat close a couple of times. The so often blasted Peter Schiff has been recommending buying Gold since 2000, that I remember well, so it roughly did a 6-bagger since then and now is still about a 4-bagger. This is at least as good a prediction/buying recommendation even though he did not tell people to sell at the top since he has become a permabull on gold. When you take more of an active trading approach you have to buy back in eventually and if you give a fixed price target and miss it's immaterial if it came close or not since it has taken off again. It's like a limit order that never hits. But I know other areas better than precious metals, so I stay out of Gold, and if it really goes down in flames I am sure this thread will be revisited in grand honor. Well, not this one, the other one with the gold prediction.

  • On 21 Nov 2014 in There Is No Longer A Rule Of Law, mell said:

    bgamall4 says

    Quigley says

    Obama's move may indeed be very good for American workers, reducing the scabs by making them legal.

    Good point. Maybe the Republicans secretly want them working for less, lol.

    What's the point? It would also be great for workers if Obama signed an executive order to reduce taxes specifically for my tax bracket! Some folks would benefit ;)

  • On 21 Nov 2014 in There Is No Longer A Rule Of Law, mell said:

    bgamall4 says

    mell says

    The queue for legal immigration has been severely backed up since 2001 with highly qualified, law-abiding people waiting as long a 10-15 years to get their green-card.

    And why is that Mell? Maybe not enough funding? I bet the Republicans caused that problem too.

    They reduced the quotas significantly after 9/11, yes, under Bush, The point is though it was a bill signed into existence and that under the new lower quotas it's even more of a slap in the face to let illegals cut in front of the line. What some of you guys are rooting for is a banana republic where it's ok if the rule of law is abolished as long as you are in agreement with the executive orders.

  • On 21 Nov 2014 in There Is No Longer A Rule Of Law, mell said:

    dublin hillz says

    The immigration issue has always been "divisive" in american history. At one point in time, southern and eastern european immigrants were considered undesirable and a threat to a cultural american continuity and those going through ellis island had to submit to a medical exam and carry $25 per head (a lot of money back in the day) to prove that they were not gonna become a public charge.

    Yeah, but that is no excuse for abandoning existing laws. You have to work with the majority you have in congress (and ideally within the population as well). The queue for legal immigration has been severely backed up since 2001 with highly qualified, law-abiding people waiting as long a 10-15 years to get their green-card. There is no excuse to let lawful applicants wait and then turning around and dishing out green-cards for people who came illegally. It's the same principle as bailing out the bankstas and their million dollar bonuses instead of prosecuting them while raising taxes on the wage-slaves.

  • On 21 Nov 2014 in There Is No Longer A Rule Of Law, mell said:

    HydroCabron says

    mell says

    Goebbels would have no problem these days and insta-convert them into formidable snoops.

    Wait a minute: are you calling liberals racist?!

    gullible for participating in government-sponsored mass movements of propaganda promoting divide and conquer.

  • On 21 Nov 2014 in This is Getting Old, Wall Street inches up to new Dow, S&P Records!, mell said:

    And Gold closed just shy of $1200. It's not really surprising though considering that not a single day goes by where a major economy isn't announcing that they are doing another round of QE and/or are slashing interest rates. That fresh fiat has to go somewhere.

  • On 21 Nov 2014 in There Is No Longer A Rule Of Law, mell said:

    gsr says

    How is "lack of concern for the poor" is equivalent to racism?

    Yep - that's the main problem with these debates. They cannot keep their definitions cleanly separated, everything becomes -isms, with racism allegations at the fore-front because that's the universal size club that fits all to squash any reasonable debate. It's funny and sad at the same time that a formerly smart and well thought-out liberal bourgeoisie has turned into an amorphous mass of fanatic "progressives" reciting the racist mantra ad nauseam. Goebbels would have no problem these days and insta-convert them into formidable snoops.

  • On 21 Nov 2014 in A fun read about government as a tool for concentrating wealth, mell said:

    Good article. Wealth concentration would have been greatly reduced in 2008 and its aftermath if the government/Fed hadn't stepped in and made the uber-wealthy even wealthier while eroding the upper middle class with tax increases and currency debasement/inflation. Note that the article mostly details a "leftist" libertarian (mildly anarchist), highly decentralized alternative view which is not totally in line with modern right leaning libertarians, definitely an interesting read.

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