Comments on: I’m Not An Economist

By: Bryan

Bryan — Sat, 12 Jan 2008 06:09:13 +0000

This may be when we really discover how interconnected economies really are. I don’t think anyone is sure.

By: Kryten42

Kryten42 — Sat, 12 Jan 2008 05:25:39 +0000

Yes, it will be bad. And I wish I knew what affect it will have on the rest of the World. It’s all a bit too complicated these days.

Truman huh? Hmmm… That makes you slightly older than me then. I always wished I’d been born a few years earlier so that I could have appreciated the 60’s more. Then again, I just missed out on Vietnam… so I guess that’s a plus. Though I did end up in Cambodia. Oh well…

Cheers 🙂

By: Bryan

Bryan — Sat, 12 Jan 2008 04:17:23 +0000

If the latest report I saw is true, and it is admittedly iffy, a reconstructed M3 [the Fed doesn’t release the official version any more] says we are experiencing a little deflation, which will scare the hell out of the Federal Reserve and may be a reason they are being somewhat aggressive.

People don’t have the money to save, LadyMin, as most are living paycheck to paycheck through and including the upper middle class. They bought into the dream of real estate, and have discovered that buying a house is not the “sure thing” they had been told it would be.

This is as bad as I have ever seen it, and Harry Truman was President when I was born.

By: Kryten42

Kryten42 — Sat, 12 Jan 2008 03:42:35 +0000

Hmmm… LadyMin… LadyMin… that nic rings a bell for some reason!

Don’t I know you from someplace? Or places? 😉 😀 Heh…

Can’t quite put my finger on it… I knew a Lady Minerva… but she went and became a Goddess or something!

Yeah… Athena/Minerva! The Chaste goddess of victory and wisdom. Patroness of arts, science, and crafts. But she is armed with a wicked pig sticker and has a helmet and her symbol is an owl not a babe! 😉 And she don’t do tax!

You’ll like it here Min. Nothing like a robust and (usually) intelligent discussion for a change! Teehee…

Good to see ya here! Cheers. 😀

By: LadyMin

LadyMin — Fri, 11 Jan 2008 20:41:03 +0000

Thanks for the welcome. 🙂

I am one of those who believes the Fed will try to inflate their way out of this mess.

And true, the corporations aren’t going help. They don’t want to spend money or raise wages. I see it with the clients I work with… they question charges and want lower fees, whereas in the past, they just paid their bill.

Last month I read the personal savings rate for 2007 went back into the negative. Yeah… looks like the party is over.

By: Bryan

Bryan — Fri, 11 Jan 2008 02:05:06 +0000

Welcome, Lady Min. Many people believe that Mr. Bernanke is poised to inflate the credit markets out of their problems, except that the corporations have no intention of raising wages, so the inflation will be rather one-sided.

I knew we were in a recession when I noticed that retailers started price reductions earlier than ever, and did not go to excess in supplying merchandise. When you walk into a store that is reducing prices before Christmas, and the selection looks sparse, you know there is a problem.

The jobs numbers [which should have been inflated by Christmas hiring and reduced days for filing] were the final confirmation.

By: LadyMin

LadyMin — Thu, 10 Jan 2008 20:35:11 +0000

Bernanke will save us! Just today he said the Fed would cut interest rates as needed to prevent housing and credit problems from plunging the country into a recession.

I also believe in Santa Claus and the Easter Bunny.

All the indicators have been screaming recession for the past few months. They’re afraid if they confirm it people will stop buying crap they can’t afford with money they don’t have. Hmmm. What a concept.

By: hipparchia

hipparchia — Wed, 09 Jan 2008 09:30:58 +0000

[you didn’t see the case of green cow that mysteriously showed up on the front porch]

i did actually have enough pennies to buy my house on the beach the last time they did this, but i was busy spending them on riotous living at the time. just as well, i suppose, since ivan destroyed the entire neighborhood.

By: Bryan

Bryan — Wed, 09 Jan 2008 05:32:21 +0000

Only a government can make money stealing from the poor.

By: Kryten42

Kryten42 — Wed, 09 Jan 2008 04:43:43 +0000

Don’t feel alone in that! Our Taxation system is a disaster too. And the Wealthy have many ways to *minimize* their tax. The poorer people can’t afford the kind of creative accountants required for such minimization. When the GST came in here, it was supposed to be a *good thing*. And it would have been,if you could trust the Howard Gov, which anyone with a working brain just laughed hysterically at. Then it was implemented, and we were screwed again.

Same old, same old…