patrick.net

We've been waging generational warfare for quite some time now. Social Security and Deficit spending.

We’ve been waging generational warfare for quite some time now. Social Security and Deficit spending.

The only way we can "win" the generational warfare is to side with the seniors.

Or arrange a powergrid shutdown and concurrent heatwave.

skibum :

The even funnier thing about TOS’ “bottom line” is that by strict definition, a recession is technically defined as at least TWO quarters of negative GDP growth.

Good catch !

What our Lady Aristotle is saying is "TWO quarters of -ve GDP growth will last about ONE quarter". It makes perfect sense.

I found this link over on the HBB : http://tinyurl.com/yr7w92

Check it out and snicker for a good long time. A 20 year old who puts the 'broke' in mortgage broker.

Hey Donald you nimrod,

I've got news for you - the "bailout" you keep touting and hoping for ain't gonna help much. It's just political window dressing. Do you really think those in government really want to help out your average FB? This is just a great political opportunity for the Democrats to seize on an issue and claim they are trying to help the "working class."

You are just too dumb and/or naive to realize this, it seems.

Again, my condolences for overpaying for your home in New Jersey's "Gold Coast."

“The history of all hitherto existing society is the history of class struggles.”

— The Communist Manifesto, Chapter 1

DS, that is very true, isn't it?

Donald Says:
Sorry, I should have written “The NAR and NAHB funded Democrats want to help out the homeowners.”

Sorry, you should have realized "The NAR and NAHB funded Democrats want to help out the NAR and NAHB."

Any scraps thrown at FB's will be only to the extent that their interests coincide with those of NAR and NAHB. In a tight credit environment, underwater FB's will find that the NAR is no longer 'their best friend', and that the NAHB is actually in _competition_ with them.

SP

Serious suggestions:

Fed rate cut by 75 basis points.
Extend 600k conforming loan limit to entire country.
Heavily regulate mortgage industry to eliminate bad actors.
Government agencies get lenders and owners to renegotiate toxic and underwater loans where possible.
Increase arcahic $3k/year capital loss limit to $100k or more.

And on the lighter side:

House Katrina refugees in empty $1million McMansions to save on trailers.
Convert abandoned condo complexes into housing projects.
Depreciate dollar by 2x through inflation until everyone has positive equity.
Elect Hugo Chavez president and then cancel all debts retroactively.

marx is by far the most important economist in history.

To be fair, TCM has a rather accurate prognosis of capitalism. However, its prescriptions are worse than the disease.

Nevertheless, we do not really need economists. All we need is more hedge funds to arb the market.

I would say George Soros is the most outstanding econo-philosopher in the 20th Century.