You can't make this shit up if you try.
We are better off than we were 6 years ago!
- Thread starter Tsing Tao
- Start date
You can't make this shit up if you try.
I actually just started reading this book "The great deformation" which touches on this subject by david stockman, great book. It shows how credit was able to supplant wage growth. Ever since the early 90's
http://www.amazon.com/Great-Deformation-Corruption-Capitalism-America/dp/1586489127/ref=sr_1_1?s=books&ie=UTF8&qid=1367324185&sr=1-1&keywords=david stockman the great deformation
http://www.amazon.com/Great-Deformation-Corruption-Capitalism-America/dp/1586489127/ref=sr_1_1?s=books&ie=UTF8&qid=1367324185&sr=1-1&keywords=david stockman the great deformation
Yes, but all that credit simply pulled forward earnings and "wages" from the future. Sustainable? No. We began paying that bill a few years ago, and it'll keep going until we stop supplanting debt with more debt.
Like I said, there is a reason why you people don't exist in the hard sciences.
It's clear no one here knows what happens during and after a financial panic.
For some reason, there are those who still don't understand that quantitative easing was an asset swap, not money printing.
And of course, no one remembers the stimulus package along with
Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010
It's clear no one here knows what happens during and after a financial panic.
For some reason, there are those who still don't understand that quantitative easing was an asset swap, not money printing.
And of course, no one remembers the stimulus package along with
Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010
Is housing still rolling along? 
Im amazed someone who made that terrible of a call even has the nerve to show face on ET.
quote="Covertibility, post: 4034769, member: 18306"]Like I said, there is a reason why you people don't exist in the hard sciences.
It's clear no one here knows what happens during and after a financial panic.
For some reason, there are those who still don't understand that quantitative easing was an asset swap, not money printing.
And of course, no one remembers the stimulus package along with
Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010[/quote]
Im amazed someone who made that terrible of a call even has the nerve to show face on ET.quote="Covertibility, post: 4034769, member: 18306"]Like I said, there is a reason why you people don't exist in the hard sciences.
It's clear no one here knows what happens during and after a financial panic.
For some reason, there are those who still don't understand that quantitative easing was an asset swap, not money printing.
And of course, no one remembers the stimulus package along with
Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010[/quote]
No one knows what happens after a financial panic? We've had them before. Only recently has the government prevented the system from actually clearing itself.
QE is an asset swap with the creation, electronically, of money. Hell, even Ben Bernanke himself admitted to the printing of money! How deluded and stupid can one dope (you) be? When the Fed buys crappy assets from banks and gives them newly created money in return, you don't think it's printing money? Or are you like Bernanke, with the "we're not literally printing money". Well no shit, Sherlock. No one thinks you're running the actual printing presses and creating brand new $100 bills for the handout - though that might have a better effect if you did because people would actually go spend it rather than having banks speculate with it.
As for the Tax Relief, Unemployment Insurance...etc. What is your point here? That it was a good thing? That job creation happened? Remember this chart, dopey? How we were told that if we didn't pass the stimulus bill we'd have much worse unemployment? What a laugh riot!
Christ, I know kids in Jr. High with a better understanding of economics than you!
