Monday, August 19, 2013

US Electorate Should Immediately Write Off Bad Investments In TBTF Banksters?

Commentary by Roger Erickson

I mean, for Pete's sake. If we're gonna use logic, use it consistently?

Fannie, Freddie should recognize bad loan costs immediately: watchdog

Didn't we use to have another watchdog called the Middle Class? Did we get rid of it? Seems foolish, in retrospect.


googleheim said...

Republicans with sequester to lower the deficit.

Democrats lowering the deficit.

Fed raising rates ??

Dollar getting weaker ??

The whole premise to lowering the deficit and sequestering is supposed to contain the interest rates and make them lower
while strengthening the dollar.

This is all backwards ... why are the MMTer's not commenting on this ?

Mike Norman invariant #3 : the fed can set rates anywhere it wants without any market force telling or influencing ...


Roger Erickson said...

That's been discussed to death, g-heim.

In fact, it's in the public record since 1933.

We're on to examining the roots of WHY the public is so easily fragmented, divided and conquered.

You can only point out the obvious so many times. If it has no effect, it behooves you to broaden and deepen the level of discourse.

For example, to hasten development of a race car driver, it doesn't much help to point out to a driver in training that she slammed into a wall on turn 3.
I mean, Duh!

It's more useful to point out where in the mix of prior momentum, traction-control, trajectory-perception and response-timing the whole sequence started to unravel.

Even pointing out exactly where she panicked, closed her eyes and locked up the brakes isn't enough. If you don't go back early enough in the causality sequence ... all you'll ever get is another generation of frustrated wallbangers.