Recent content by The Fetus

Actually, I agree with you, Akuma. But if the money was already allocated to the state and/or city, that horse was out of the barn long ago. I too have had enough of free flowing federal tax dollars. However, at least Detroit finally has a mayor who recognizes the importance of the blight...

I just read today that 33% of homes in the U.S. are under water -- worth less than the loan balance. I wonder how many of those are repeatedly refinanced homes originally purchased in the 1970s. I've heard it said that people used the increasing value of their homes like ATMs during the boom...

All I can say is, "FINALLY!"

Hi, bkveen3. I guess I'm not sure that what we sense around us is the best measure of market sentiment, but I understand what you are sensing. Anecdotally, I also know people who say they won't touch stocks, but I think that is to be expected given the lingering difficulties of this economic...

Okay, but this particular survey polls "individual <u>investors</u>," right? So I take it you are saying that these bullish respondents would be invested bullishly if they could afford to be, but they don't have the money, right? If I understand you correctly, then would you agree that the...

I agree with you in large part. However, we actually haven't really exchanged one for the other. The positive private savings rate we have now after posting a record negative rate before the financial crisis is more a phenomenon of debt destruction (default) than it is of debts being paid down...

If the average retail investor is still on the sidelines, it must be because he doesn't have any cash. The cash positions of mutual funds hit an all-time low in July and remains at low levels. What are you using to measure the "average retail investor" cash position? I don't think incomes...

I really like your answer but have little confidence in our politicians to choose the right solution. I'm not trying to be a panic monger, but with our debt to GDP ratio growing, more shrinkage in the denominator could push us to critical levels. The belief in a stronger economy going forward...

Regarding trefoil's last post... Of course, the PMI is a survey, right? So at least we have signs of confidence returning in some areas. That's a first step. I hope it isn't overconfidence.

Well, the other "solution" is national bankruptcy and default on our debt. Who can say for sure it can't happen here? Is there any limit to the debt we can sustain? Is it practically possible to inflate our way out of this? Really? Longer term, what creditor wants a worthless currency...

Interesting, Bearice. Where do you stand on that issue? Personally, I have no interest in long term Treasuries either. With the U.S. government still on an all-out spending binge, confidence in U.S. debt is in increasing jeopardy. Do we have the stomach to do what is necessary to...

Game on, zdreg. Time will tell who has the right outlook. I promise to be the first to say on this forum that you were right and I was wrong if the U.S. doesn't fall into another deflationary leg in 2011 as I anticipate. I hope I'm the one eating humble pie for all of our sakes. You...

Yes, yes. I know. It's Christmas and it's pathetic to be posting on Christmas day, but the kids just finished the morning present mayhem (though a much smaller Christmas this year), there's a lull in the action and I'm an economics junky. So here's a little something that ties up my...

You completely misread me, zdreg. The second one was not an apology at all. You're kind of on the touchy side, aren't you? It's probably better that we discontinue our dialog. Go ahead and take your last shot, though that one about my character was a pretty good parting shot. I actually...

My goodness, zdreg. Really? "Do the right thing?" Excuse me. I must not have realized whose presence I was in -- one who is obviously above a friendly little jab in a spirited debate. Inexcusable! I'm truly sorry if I hurt your feelings. Ok, more facts. In 1980, Japan's gross debt...