Debt Rattle March 31 2015

[Raúl Ilargi Meijer]

Dorothea Lange Butter bean vines across the porch, Negro quarter, Memphis, Tennessee 1938 • The US Economy Is Showing Cracks (CNN) • Greek Constructio
[See the full post at: Debt Rattle March 31 2015]

[Dr. Diablo]

“We’re going through a soft patch.” –Peter Cardello, Rockwell.

Yeah, since 2001. Your entire CAREER has now been one long soft patch, like the “soft patch” between 1929 (or 1923) and 1949.

Ben “I Didn’t Throw Seniors Under The Bus” Bernanke, because using government (in effect) to choose winners and losers, to help debtors at the expense of creditors is what, exactly? Amazing.

Speaking of transferring from losers to winners: student debt. Here we have the overall situation of transferring the nation’s wealth TO seniors via social security, the stock market, and especially two-free-new-hips+double-bypass Medicare plan, (i.e. net-net the old and rich) and FROM the part-time-minimum-wage, one-healthcare-event-from-bankruptcy working men, (i.e. net-net, the young and poor). But the entire system unjustly transferring wealth from the net poor to the net rich is just what you would expect, isn’t it? I mean, when lobbying has a 22,000% return on investment? https://www.breitbart.com/big-government/2013/01/25/boomtown-report-corporations-received-22-000-return-on-investment-from-lobbying/

Bernanke’s arranging the permanent transfer of the nation’s wealth from the prudent and working to the reckless and speculative is just a variation of the theme, as perfectly outlined in the Marketwatch article.

““Households are still flush with the money(!) saved from the big drop-off in gasoline prices and, with the labor market still on fire(!), incomes should continue to increase(!) at a solid pace,” –Paul Ashworth, Capital Economics

Hahahahahahahahahahahahahahhahahahahahahahahahhaha! I haven’t heard anything that funny since George Carlin died!

[jal]

And now … Its time to hear from another respected financial expert.
“Households are still flush with the money saved from the big drop-off in gasoline prices and, with the labor market still on fire, incomes should continue to increase at a solid pace,” said Paul Ashworth, chief U.S. economist at Capital Economics. “That provides the scope for a big gain in consumption in the second quarter.”

(Its impolite to laugh so loud)

[Gravity]

Gravity is a stereoscopic algorithm.

[rapier]

Benanke’s blog does have a comment section and I tried twice to comment on his follow up post, Why are Interest Rates So Low 2. They were not accepted. I was polite. Well in the first I did use the phrase “fools errand”.

Oh well. No surprise.

[rapier]

I had the wrong link above. Here is the classic Keen discussion of the errors of standard economics.

[Author]

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