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It didn't miraculously reappear in the 1970's. While a lot of the New Deal was dismantled, there was still plenty New Deal regulation left by the 1970's. I didn't mean to ignore price and wage controls Nixon wrote into law, the cost of the "Great Society" disaster or the Vietnam war. However...

And net investment was negative EVERY single year. I don't consider 25% unemployment going to 18% a "significant decrease" because 18% unemployment is exceptionally high by any measure. GDP includes government spending, so of course it increased - especially if you're counting, as you are...

Right. Yet more proof that the biggest Ponzi schemes and most irresponsibly run insurance companies are dreamed up and run by the political class. SIPC can't cover the obligations because it's not properly funded - just like AIG. The SEC wouldn't properly investigate Madoff because he was a...

Madoff wasn't running a fund. He was running a collection of managed accounts and managed accounts are covered under SIPC.

Oh yeah, because the men have done ever so much better!

Exactly. However, unlike other Ponzi schemes, you don't have a choice <i>not</i> to participate. The key phrase is "...as long as humans produce (and reproduce)". But if more and more output is confiscated to pay the previous generation, the younger generation has less and less incentive to...

Holy crap, are you ever bathed in ignorance. The public market does not operate on the bigger fool theory. It is a meeting place to increase liquidity and thereby make capital raising more efficient. If you know how to value a security (and I doubt many of you know how to perform a basic...

A.) I completely agree with Lescor B.) This is little piece seems to be a soft sell for short restrictions (academics are regulation loving libtards for the most part) and they're willing to ignore data and lie with statistics to do it. But here's a question: if short sale restrictions...

I don't think we'll be maintaining. To maintain, production has to keep pace with population growth. With government spending crowding out private investment and the zealous desire by the boomers to use government to rob their children to pay for the lifestyle to which they have become...

Well said.

No, stock markets are not a Ponzi scheme. But the guy who wrote that piece is too dumb to know the difference between a Ponzi scheme and a market. I can't believe somebody on "elite" trader would even excerpt such drivel and post it.

One more thing about realized/unrealized gains and liquidity.... If you have the 475 election with the IRS (which trading partnerships and hedge funds as well as individual traders trading for a living have to make), you are taxed on a mark to market basis. This means that you're taxed on...

The most overvalued thing in the world is a financial journalist. He typically has no clue what he's talking about but writes authoritatively - and this guy is no different. Not all hedge funds invest in illiquid assets. Those that do have some wiggle room in valuations but that's just the...

What was Keynes right about?

No, I do not agree. Where do you get your economic history? The New Deal prolonged the depression for a decade. There was no recovery until AFTER WWII. Contrary to popular lore, the war only soaked up unemployment. Real GDP increases did not occur until after the war when many New Deal...

All this clawback stuff refers to investment in a single pool like a hedge fund. That's the precedent set by Bayou. Apparently, Madoff's investors were in managed accounts, not in a single pool like a hedge fund. Does the precedent still apply?

You've just made a strong but idiotic argument for no government because a government is a way of collectivizing people - creating an army of ants. I don't give a crap if you feel strong or weak. If you don't want to join an investment partnership, then don't. If you're not part of an...

I agree with you. However, if someone is going to claim to "analyze the data" then this person is essentially saying that he knows more than the average monkey. Then, he goes on to prove that he is a below average monkey. Sad. This does bring up another point though: these monkeys vote and...

Your ignorance is vast. There's no such economic theory as "trickle-down". You would know that if you knew the very first thing about economics. Bush's policies were ANYTHING but free market and they were most certainly not supply-side. You would also know that if you had the smallest clue...

Americans are far more optimistic about their ability to earn in the future. Europeans lack that optimism. Beyond that, the government has been making it pretty clear over the past year that if you save you will be punished. Worse, when all this "stimulus" finally leads to a currency...