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1 month ago
in The Annihiliation Of The Dollar's Purchasing Power on Zero Hedge
zzzzzzzzzzz
1 reply
Gordon_Gekko
I guess you'll still be sleeping when Barack "Change" Obama devalues the dollar by half thus stealing half of whatever you have. Hell, you already lost 94%, what's another 6% right? Well, this chart is the ESSENCE of what is wrong with the financial system and why all the dislocations and misallocations are occurring. You can go back to sleep now.
1 month ago
in The Reverse Engineering Of Greenspan Continues on Zero Hedge
you really should be looking at mortgages vs 7-10 year T notes
because of prepayment, etc that's the average duration of these '30-year' securities
because of prepayment, etc that's the average duration of these '30-year' securities
1 reply
dirk
True, the 10 year is the more applicable, but look at that graph - the spread is pretty much at all time lows. And this at a time when there is very little certainty around the counterparty risk 7-10 years out on fannie/freddie.
now that Zimbabwe Ben has these bonds in his portfolio, how is he going to unwind these positions without leaving a bunch of money out in the market? is someone else going to take the same view he does on fannie/freddie risk? after all, they do not have the full faith and credit.
and what kind of MBS market is there going to be when he exits?
it is time shifting, nothing more, we will pay for this someday soon (probably before the end of the year), price controls never work.
now that Zimbabwe Ben has these bonds in his portfolio, how is he going to unwind these positions without leaving a bunch of money out in the market? is someone else going to take the same view he does on fannie/freddie risk? after all, they do not have the full faith and credit.
and what kind of MBS market is there going to be when he exits?
it is time shifting, nothing more, we will pay for this someday soon (probably before the end of the year), price controls never work.
2 months ago
in Bootstrapping Technology For Eight Bucks a Day on interfacelab
Yes, but you specifically cite and link to the Business version.
1 reply
Jonathan
I'm pretty sure it used to be called "for business" on everything, and then they used "premier" and "standard" pricing. Now there seems to be an intermix of 'for business' and 'premium'
in either event:
it's the same thing, and there's a link on the page.
in either event:
it's the same thing, and there's a link on the page.
2 months ago
in Weekly Macro Observations on Zero Hedge
dow jumped about 0.5% at 3:59
wild
show all 3 replies
wild
3 replies
anonymous
The S&P dropped 1% in the three minutes before that--wasn't that wild???
seeking vega
Well, TD was sure right about the insane vol of the overall market. if you need any indication that the market is broken just look at the last 5 minutes of trading
2 months ago
in Mom kills son, then self at shooting range on AMERICAblog
Oh my god. I watched that YouTube video and it really, really upset me. It isn't gory, but it is still VERY disturbing. How truly awful. What is really sad is that this mother apparently had been treated for mental illness, yet she is still able to not only own a gun, but rent ones at firing ranges. So sad.
1 reply
GoBlue
Under Florida law she could not have bought a gun. But there is no law to stop her renting one.
12 months ago
in Bikes vs. Cars on Will Wilkinson
most roads are funded locally or by states. moreover, things like parking lots are mandated by zoning laws and subsidized by tax-paying, god-fearing businesses.
amtrak is funded nationally.
this report doesn't tell you anything, unless you really want to believe that we're making money by building roads.
amtrak is funded nationally.
this report doesn't tell you anything, unless you really want to believe that we're making money by building roads.
2 replies
DWAnderson
link in my response should have been to http://www.dot.ca.gov/hq/tpp/offices/osp/ctp202...
DWAnderson
It is true that the report talks about the net subsidy at the level of the federal government. But this relationship also appears to hold up at the state level (see for example, this report on California.)
The reason cars show a negative subsidy is not that we are "making money by building roads" (although that proposition can be defended at some level of abstraction!), but rather that the costs associated with roads are more than covered by taxes on drivers (like gasoline taxes).
Sure, this analysis may not be perfect, but I don't think there are good reasons to believe that cars are not one of the least subsidized form of transportation out there.
The reason cars show a negative subsidy is not that we are "making money by building roads" (although that proposition can be defended at some level of abstraction!), but rather that the costs associated with roads are more than covered by taxes on drivers (like gasoline taxes).
Sure, this analysis may not be perfect, but I don't think there are good reasons to believe that cars are not one of the least subsidized form of transportation out there.
1 year ago
in McCain Closes Cash Gap -- Political Wire on Political Wire
I beg to differ, Yvonne. Probably I will hold my nose while I vote for Obama in November as a direct result of his radio ad this week for Rep Barrow of Georgia, a Democrat in name only who votes for Bush (sure enough, he voted Yes on the FISA law Friday) and who has a legit progressive opponent in a primary election.
His support of Barrow tells me Obama is willing to sell out for political gain. While that's normal in politicians, Obama has held himself out as the candidate of change. In fact, with his support for immunity for telecoms, he's revealed himself to be politics as usual. You might be happy to eagerly support him, you might feel you're the grown up because you, too, are willing to sell out.
In my case, and I suspect Helen's, as a voter my plan is to support progressives wherever they are. But actively support Obama at this point? Forget it. His actions later on might be different, in a meaningful way, but until then I'm opting to support candidates who truly support a progressive agenda, that support the Constitution and equal justice before the law, that supports meaningful health care change.
I'd hope, Yvonne, that you would respect people's right to their beliefs and actions rather than use words like "grownup" to describe one set of voters.
His support of Barrow tells me Obama is willing to sell out for political gain. While that's normal in politicians, Obama has held himself out as the candidate of change. In fact, with his support for immunity for telecoms, he's revealed himself to be politics as usual. You might be happy to eagerly support him, you might feel you're the grown up because you, too, are willing to sell out.
In my case, and I suspect Helen's, as a voter my plan is to support progressives wherever they are. But actively support Obama at this point? Forget it. His actions later on might be different, in a meaningful way, but until then I'm opting to support candidates who truly support a progressive agenda, that support the Constitution and equal justice before the law, that supports meaningful health care change.
I'd hope, Yvonne, that you would respect people's right to their beliefs and actions rather than use words like "grownup" to describe one set of voters.
2 replies
NCYvonne
Do whatever you want. But you're in the minority. After being in the political wilderness for eight years, Democrats want to win. I will do everything I can to make sure that the next president is Obama. If you want to sit around whining about him not being "pure" which you'll be holding your breath and your nose if you think any such thing exists, go right ahead.
Mo Udall said it best back in the 1970's. "When Democrats form a firing squad, they sand in a circle."
Mo Udall said it best back in the 1970's. "When Democrats form a firing squad, they sand in a circle."
jgrillo
Others have disagreed with me, but I have noted the Democratic Party strategy of electing conservative Democrats recently...A conservative Democrat in the South is more conservative than a liberal Republican in New England.
I've been saying Obama is just another politician but Tim said it in a more more eloquent way in his 2nd paragraph.
I've been saying Obama is just another politician but Tim said it in a more more eloquent way in his 2nd paragraph.
1 year ago
in Suffolk Poll: Clinton Leads By 10 in Pennsylvania -- Political Wire on Political Wire
"...20 percent of core Democratic supporters fleeing to McCain, electability in November becomes a quantifiable problem;"
Only because Democrats have failed so far to tag McCain as toxic to the interests of independents. If/when that happens, electibility is no longer a quantifiable problem.
Only because Democrats have failed so far to tag McCain as toxic to the interests of independents. If/when that happens, electibility is no longer a quantifiable problem.
1 reply
jgrillo
This dragged on race is benefitting Republicans tremendously...now we have Obama admitting McCain is much better than Bush, and Clinton saying McCain would make a better CINC than Obama. The only thing left remaining is for both Obama and Clinton to officially endorse John McCain for President.
John
John
