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Author Topic: Peter Lik new release "Bella Luna", is this ok to you?  (Read 58765 times)
Rob C
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« Reply #60 on: March 27, 2012, 04:19:04 AM »
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Sorry, Rob ... but you aren't really making any sense. 

Say "Goodnight", Gracie. 

"Goodnight Gracie"





Perception is all; I perceive the sense most clearly. As I would.

;-)

Rob C
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RSL
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« Reply #61 on: March 28, 2012, 07:35:17 AM »
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Not even close, Russ.

The yield on the US Gov't 10 Year is about 2.2% ... that tells you everything you need to know.

You can tell me you are right and several trillion dollars of real money is wrong, but I would have no choice but to laugh at you.

You've fallen for a bunch of republican claptrap ...

Jeremy, For a somewhat different opinion check the editorial pages in this morning's Wall Street Journal for Lawrence Goodman's article: "Demand for U.S. Debt Is Not Limitless."
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jeremypayne
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« Reply #62 on: March 28, 2012, 08:00:29 AM »
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Jeremy, For a somewhat different opinion check the editorial pages in this morning's Wall Street Journal for Lawrence Goodman's article: "Demand for U.S. Debt Is Not Limitless."

That's the republican claptrap I'm talking about.

Take a look at Ireland ... they have followed that advice ... they reduced their debt and deficit ... and they are sinking into a morass of stagnation and persistent unemployment.

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RSL
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« Reply #63 on: March 28, 2012, 09:46:52 AM »
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Actually, a terrible analogy ... Russ, keep the politics out of it.
 
That's the republican claptrap I'm talking about.

Take a look at Ireland ... they have followed that advice ... they reduced their debt and deficit ... and they are sinking into a morass of stagnation and persistent unemployment.

Aren't you the guy who said "keep the politics out of it?"

So anything published in the WSJ is "Republican claptrap," but anything published in the NYT is the word of the almighty? Even op-ed on the front page of the NYT posing as news, and then, later found to have been, and acknowledged by the Times to have been, pure fiction written by rogue "reporters," not caught because they were "reporting" what the owners and masters of the NYT hoped and believed to be true?

Come on, Jeremy, you can do better than that. As usual, the Irish will be just fine. They're taking the lumps they let themselves in for and digging their way out. If we're smart we'll start doing the same thing next year, but we've often shown ourselves not to be smart. The longer we pretend we can have a perpetual party on hope and change and borrowed money the harder it's going to be to sober up and pay the bill. If we wait much longer the only politically possible solution is going to be to monetize the debt and wipe out anyone who, as you put it, "had faith in the dollar," and saved it. Are you ready to be paid in billion-dollar bills?

Oh, and where was that stagnation and persistent unemployment? Was that Detroit? Maybe Oakland? Fresno...?
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Slobodan Blagojevic
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« Reply #64 on: March 28, 2012, 12:42:32 PM »
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...Are you ready to be paid in billion-dollar bills?...

I was.

« Last Edit: March 28, 2012, 12:45:24 PM by Slobodan Blagojevic » Logged

Slobodan

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jeremypayne
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« Reply #65 on: March 28, 2012, 01:12:26 PM »
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Aren't you the guy who said "keep the politics out of it?"

So you refer to the editorial page of the WSJ?

So anything published in the WSJ is "Republican claptrap,"

On the editorial page?  Yup.

but anything published in the NYT is the word of the almighty?

Did I say that?

"Goodnight Gracie."

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RSL
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« Reply #66 on: March 28, 2012, 02:43:33 PM »
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You didn't answer my question, Jeremy. What Slobodan showed probably is the future of the U.S. unless we get things under control tout de suite. Visualize that 500 billion with "Federal Reserve Note" printed in English at the top. That'll get the government out from under its obligations in a hurry.
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Rob C
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« Reply #67 on: March 28, 2012, 03:36:52 PM »
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I sort of remember using the peseta, and years before that, the lira. I used to be a multi-millionaire in the days of the peseta and lira.

Sadly, I'm now as poor as ever I was, in any money that I'd still use.

Rob C
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JonathanRimmel
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« Reply #68 on: March 28, 2012, 04:54:06 PM »
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I think this is more than obviously a composite. In fact it reminds me some the fantasy spacescapes which I myself like to do in Photoshop. So while there is nothing really wrong with the image. I would not say it is all that fantastic, nor would I in good conscience call it a photograph.
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jeremypayne
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« Reply #69 on: March 29, 2012, 06:05:32 AM »
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You didn't answer my question, Jeremy. What Slobodan showed probably is the future of the U.S. unless we get things under control tout de suite. Visualize that 500 billion with "Federal Reserve Note" printed in English at the top. That'll get the government out from under its obligations in a hurry.

You keep wanting to play political ping-pong ... I don't really like to play that game anymore. 

That's fine ... it's your opinion* against the collective wisdom of thousands of investors holding and buying trillions of dollars of long-dated treasuries.

You could be right and they could all be wrong.

We'll see.

(*Is it really yours?  Or are you just repeating stuff you've heard others say that you really, truly don't understand ... be honest ...)
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RSL
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« Reply #70 on: March 29, 2012, 07:46:08 AM »
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Jeremy, more "Republican claptrap" in this morning's WSJ that you probably ought to check out: "The Dangers of an Interventionist Fed," by John B. Taylor. But, of course, that kind of article by a professor of economics simply shows that it's stuff he's heard but doesn't understand.
« Last Edit: March 29, 2012, 07:49:38 AM by RSL » Logged

jeremypayne
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« Reply #71 on: March 29, 2012, 09:14:19 AM »
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What happened between 1937 and 1941 in the United States and why?
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RSL
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« Reply #72 on: March 29, 2012, 10:02:21 AM »
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What happened between 1937 and 1941 was that I lived part of 1938 in Buckeye, Arizona. The rest of the time I lived in Ferndale, Michigan. Why? Because that's what my parents decided we should do.

If you mean what happened to the economy, it remained slumped due to incompetent attempts at centralized management by FDR and his "brain trust."
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Slobodan Blagojevic
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« Reply #73 on: March 29, 2012, 11:18:12 AM »
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... it's your opinion* against the collective wisdom of thousands of investors...

Hmmmm... so it boils down to "opinion" vs. "wisdom". Never mind that investors' "wisdom" is equally based on opinion and, even more important, on faith. Amassing thousands with the same opinion or faith does not turn it into a fact or wisdom.

Whole capitalism is based on faith. The engine of capitalism, arguably, is credit. Credit comes from Latin (credo, credere...) "I believe", as in "I believe that you will be able to return the money I lent you."

As for investors' "wisdom"... a rather shaky proposition. Investing is just another form of faith or belief, as in "I believe this investment will bring dividends in the future". And investors, of course, are always right, right up to the point when they are... not, e.g., when the bubble bursts. Investors believed in tulips, dot.coms and housing. Investors believe in governments and their t-bills too, e.g. Russia in 1998. And yet, in September 1998, the West collectively lost $100 Bln overnight. And George Soros, who built his wealth and reputation on "wisdom" i.e., "knowing" how to bet against the British Pound, reportedly lost his "wisdom" and $2 Bln too.

In any given market, there are those who believe it will rise and those who believe it will fall, otherwise there would be no trade. So, yes, there are many who believe in the US government as the "last bastion of capitalism" and its ability to control its debt and inflation. And then there are others who rather believe gold is the best protection against inflation (just check the gold prices lately). But you see, there is that damn word again "believe".

In other words, Russ is just as justified in his belief as you are, Jeremy. Many people would agree that (they believe) inflation is unavoidable. Perhaps not to the point as in my home country, but a 15% inflation is not unheard of in the US either, as recently as a few presidents ago. Other people believe soft lending is still possible.

I believe one of the two sides must be right. And that's a fact. Believe me. Wink

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Slobodan

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jeremypayne
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« Reply #74 on: March 29, 2012, 11:26:38 AM »
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Hmmmm... so it boils down to "opinion" vs. "wisdom". Never mind that investors' "wisdom" is equally based on opinion and, even more important, on faith. Amassing thousands with the same opinion or faith does not turn it into a fact or wisdom.

There is a "wisdom of crowds" and I know you understand that.

You are playing word games.
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jeremypayne
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« Reply #75 on: March 29, 2012, 11:30:12 AM »
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If you mean what happened to the economy, it remained slumped due to incompetent attempts at centralized management by FDR and his "brain trust."

Remained slumped?  That's not exactly right ...

A recovery well-underway was derailed ... first by overly tight fiscal policy spurred by the belief that deficit spending had run amok followed by a poorly conceived and ill-timed tightening of monetary policy by the Fed.

1937 employment was not reached again until the massive and unavoidable stimulus of the war.
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RSL
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« Reply #76 on: March 29, 2012, 12:02:25 PM »
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Remained slumped?  That's not exactly right ...

A recovery well-underway was derailed ... first by overly tight fiscal policy spurred by the belief that deficit spending had run amok followed by a poorly conceived and ill-timed tightening of monetary policy by the Fed.

1937 employment was not reached again until the massive and unavoidable stimulus of the war.


Right, Jeremy, and I'm sure everybody in that class had to regurgitate exactly that on their exam in order to pass.
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jeremypayne
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« Reply #77 on: March 29, 2012, 01:10:51 PM »
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Right, Jeremy, and I'm sure everybody in that class had to regurgitate exactly that on their exam in order to pass.

Author is a republican historian and member of multiple republican administrations:

http://www.forbes.com/2010/01/07/deficit-great-depression-recovery-opinions-columnists-bruce-bartlett.html
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RSL
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« Reply #78 on: March 29, 2012, 02:06:00 PM »
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Yes, I've read that theory before, Jeremy, and all I can say is that any correlation between the 1930s and now is loose at best. And even Republicans occasionally make mistakes. Rarely... but they do.
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jeremypayne
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« Reply #79 on: March 29, 2012, 03:19:11 PM »
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any correlation between the 1930s and now is loose at best.

The 1930's in the US and the situation in Japan in the 90's are two very real and relevant examples of the kind of economic environment in which we now find ourselves. 

Fortunately for us, the current chairman of the fed recognizes that and has acted accordingly.

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