patrick.net

I say let them eat asset backed paper. YUM!

Ironic, they started as a Christian, Protestant University, and now, no mention of that in the context of the CEO criminals that have graduated from that institution.

I should make millions of dollars worth of derivative contracts between my wife and me to use as collateral. I could then get cheap money from the central bank in exchange for worthless stuff. That is I can win in this game.

Too bad the central bank is not interested in you.

>> The market will eventually find its equilibrium

There is NO MARKET in US .... stop your bullshit.

United States is a socialist country for rich. Socialize risk and privatize profit. I will choose EU over US any day when it comes to welfare policies.

>> The market will eventually find its equilibrium

There is NO MARKET in US

The market exists whenever there are human beings. Market forces are the manifestation of collective human will.

and government interventions

this countries markets are VERY managed!

ie FARM BILL

ie Bear Sterns bailout

ie TEA 21

U n i t e d S t a t e s I s A S o c i a l i s t C o u n t r y F o r R i c h.

S o c i a l i z e
R i s k
A n d
P r i v a t i z e
P r o f i t.

Europe is better than US in taking care of its people

and so on and so on

and they tell two friends and they tell two friends...

People do not have health care in US

People work to death in US

watch Sicko

Vote republican to avoid housing bailout and illegal immigration

Medicare Prescription Drug, Improvement, and Modernization Act

http://en.wikipedia.org/wiki/Medicare_Prescription_Drug,_Improvement,_and_Modernization_Act

1. RE: welfare state, US is still doing better than Europe
2. Important: we should look at Europe and see what we *should not* do

I disagree. Our welfare state only looks like it is doing better because we still are in control of the world's reserve currency.

Peter P

Yea - the truth is the US, for all f its many and painful flaws,is still better than most other nations.

Our inflation may well balkalnize the EU (or at least the EU Central Bank and currency).

Their form of social security is far worse and far more immediate of a problem than our problems (at least, Italym France and Germany).

Their immigration problems are worse than our problems.

Their labor competitiveness is worse than ours.

In the end, we need good government to keep us a step ahead, and I have lost a great deal of confidence in the people who are getting elected these days. Maybe a competency test is in order?

In any event, the Fed needs to curb inlfation NOW.

Bap

My comment on Merced was only this: homes are starting to clear there. That is the truth. People who are buying are planning to rent because they can do so - presumably to people getting aide. Also the truth. I am sure everything you are saying is also correct.

Our welfare state only looks like it is doing better because we still are in control of the world’s reserve currency.

But that is quite something, isn't it? ;)

I never said that I am a genius... and I always thought luck is a crucial element.

Most Americans live quite well compared to the rest of the world. We should work to keep it that way.

I should we have a tax on luck. LOL.

All nonsensical rantings aside, Peter P is right in that most Americans assume that European countries are better places to live than here and they attribute a lot of that to socialist policies. They are very wrong.

I believe in freedom and individual liberty. We are getting away from it at an alarming rate and that worries me.

Peter, the relief you feel might be short lived. We are fast on our way to becoming an unproductive, entitlement society.

London has good Indian food though. ;)

They even have good South Indian seafood dishes! Somehow Paapad tastes much better there.

Wether life is "better" in a western European country, Canada, Australia, New Zealand or the United States is really a matter of tastes and preferences. All these nations provide free public education and job/career/life opportunities for those who put forth the efforts to take advantage of them. The "luck", I suppose, (since very few in any nation are born upper class) comes from having parents who push for doing well in school and push other habits for success in a modern society. The opportunity for a comfortable material existence is available for all who work for it. Plus, given the dole programs available in all the above named countries, many who do not/cannot work fare rather well also.

It does not matter that "Americans are working harder," you can choose to work less. So what if the majority of your neighbors have both spouses working to pay for the huge house, cable, and SUV? You can choose to live in the smaller home, drive a midsize Chevy, and take vacations while working no overtime. The same concept applies to those who overconsume and run up credit card debt. You can enjoy parks (fishing, canoeing, baseball, basketball, hiking), cycling, over-the-air TV, home cooked meals from scratch, and other free activities while banking some of your salary. Just because others run up debts and pay interest does preclude you from putting away savings and earning interest.

"They even have good South Indian seafood dishes"

Peter, you haven't had the best sea food until you have tried fresh Chesapeake Bay she-crab soup.

Peter, you haven’t had the best sea food until you have tried fresh Chesapeake Bay she-crab soup.

I have heard about it. I can imagine the taste. Yum! :)

I love she-crabs. The coral is the best!

Peter P, what is south-indian seafood? Could you expand on that a bit. Not that I have tasted any of it, but I am just curious.

There are more North Indians in London and South Indians over here (especially in the bay area) so if you better south indian food in London, that is a surprise to me.

Sriram, my knowledge of Indian cuisine is still very shallow. However, they have prawns and fish cooked with young mango, which was quite interesting.

Again, I do not know much about true Indian food. I am still exploring.

The purpose of human culture is to take chance out of the equation.

Then I afraid human culture is doomed to failure. Moreover, I believe luck can be changed.

Ah, the joy of uncensored conversation.

Anyhow, sorry about the website outages this morning. My ISP messed up. If anyone has ISP recommendations please let me know: p@patrick.net

When did I ever "tolerate" or argue in favor of protectionism anywhere, including India? If anyone ever needed proof that OB lives in a fantasy world of his own, there it is.

I am not responsible or answerable for your dumb assumptions.

BTW, I don't know what neoliberalism is. I am probably more of a libertarian than Peter P, who I see as more of a conservative with strong libertarian leaning. Maybe not.

What does men being equal have to do with luck being present in daily life?

Ah, the joy of non-sequitur-filled, nonsensical loser rants.

PermaRenter,

Nice parody there with the pithy one-liners :-)

>youre not really in the position to be even discussing economics at all.

Says you. Who made you the authority on who can discuss economics and who cannot?

I will keep posting here and so will Peter P. You can fume all you want.

Actually, discussions like ours are very relevant to this site since the housing bubble is obviously an economic event and the free market point of view is a major point of view in that argument. Most people here agree that government actions caused it and current government actions and the proposed ones only make it worse.

Obviously it is perfectly fine to disagree and debate in a civil manner about the economics involved. Many people do that. HARM, for instance, makes some very interesting arguments so does Randy.

What DOESN'T add to the debate and scares people off the site is morons like you screaming "all indians/asians are evil" and whining "I got fired from my overpaid job and replaced by someone from a different race". You have made worse comments including one where you suggested physically hurting children of a particular race. I remember the admin had to step in and remove that.

I know losers like you have no other choice but to whine and be xenophobic, so you keep doing what you do. Who gives a rat's behind what you think?

OB is an idiot. He is also a xenophobe and a racist but he pre-empts that accusation by accusing people of calling him that even before they do! Wow, what a strategy!

Indian PM's daughter? WTF does that have to do with anything? Some more non-sequiturs for everyone to enjoy? Please remember to take your meds, dude.

The fact that you are racist doesn't bother me. Racism is just one of the many wrong, stupid opinions held by you :) I won't be upset every time some random moron has a wrong opinion.

At the beginning of this thread, you accused me (so, for the record, you started it) of supporting protectionism in India? You have anything to back that up?

Or is that just some more random baseless crap you threw out there?