tag:blogger.com,1999:blog-2761684730989137546.post6831049773619373004..comments2024-03-28T04:13:36.779-04:00Comments on Mike Norman Economics: Legislative Background on the Debt Ceilingmike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-2761684730989137546.post-58357005400157823482010-05-25T08:40:38.965-04:002010-05-25T08:40:38.965-04:00My Fiscal Trend Digest predicted this all back in ...My <a href="http://www.pitbulleconomics.com/fiscaltrenddigest.htm" rel="nofollow">Fiscal Trend Digest</a> predicted this all back in January!mike normanhttps://www.blogger.com/profile/03296006882513340747noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-72821517033925928912010-05-25T08:38:57.502-04:002010-05-25T08:38:57.502-04:00Mike,
It's really sickening that this guy isn...Mike,<br /><br />It's really sickening that this guy isn't totally laughed off the air at this point. He completely ignores facts and keeps spewing this dogma. Very sad commentary on the media.mike normanhttps://www.blogger.com/profile/03296006882513340747noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-35226202228698984262010-05-25T07:39:29.432-04:002010-05-25T07:39:29.432-04:00When my treasuries mature the treasury direct serv...When my treasuries mature the treasury direct service doesn't pay back reserves, they issue zero percent certificates of indebtedness. Why on earth do they do this?Ryan Harrishttps://www.blogger.com/profile/04815033054435303399noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-73272092683285643592010-05-25T02:35:42.203-04:002010-05-25T02:35:42.203-04:00As I mentioned to Matt on the "Marshall"...As I mentioned to Matt on the "Marshall" thread at Mosler's place, Congress wouldn't have to touch the statutory debt limit if they authorized Tsy to resume issuing US currency notes (think Lincoln Greenbacks) usable as bank reserves. They're zero-interest bearer bonds but are excluded from the statutory debt limit. <br /><br />Of course, there IS something else not within the statutory debt limit (not debt at all, in fact) that's used every day to create money, Congress's power to coin money and set the value thereof. Any coin authorized by Congress is legal tender, the Fed buys them at face value. Once the US Mint's costs are covered, Tsy books any seignorage profits as a miscellaneous receipt. <br /><br />Congress could just give Tsy discretion to use this seignorage power to mint coins of any denomination. Just stamp $1 trillion coins as needed -- with Reagan's face no doubt-- why should the US ever bother borrowing again? Actually, Congress already did (quite by accident, I'm sure).<br /><br /><i>(k) The Secretary may mint and issue platinum bullion coins and proof platinum coins in accordance with such specifications, designs, varieties, quantities, denominations, and inscriptions as the Secretary, in the Secretary’s discretion, may prescribe from time to time.</i><br />31 US 5112Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-15932821231550090142010-05-24T19:44:04.492-04:002010-05-24T19:44:04.492-04:00Guys, here's the latest foolishness from Peter...Guys, here's the latest foolishness from Peter Schiff"<br /><br />http://www.youtube.com/watch?v=z-MwSKLxYow<br /><br />He "debates" Mike Mussa here.Mike Sandiferhttps://www.blogger.com/profile/04266779805691997171noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-39380272823365655362010-05-24T19:28:15.984-04:002010-05-24T19:28:15.984-04:00Correction, type error,
Solar Stocks in Spain and...Correction, type error,<br /><br />Solar Stocks in Spain and Germany are in danger of losing the govt subsidies to aid their industries,<br />due to governments cutting back on spending and trying to balance budgets.Bobhttps://www.blogger.com/profile/05648774595974793332noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-14182300964920927312010-05-24T19:26:01.571-04:002010-05-24T19:26:01.571-04:00All the forces are aligning for another pullback, ...All the forces are aligning for another pullback, S. Korea says they will ban trading with their #2 trading partner N. Korea and they will make them pay for sinking their ship, at the sametime announcing joint anti-submarine warfare exercises with the US in the west sea starting soon.<br />Latest from Bloomberg Solar Stocks in Spain and Germany are in trouble due to risk of losing their govt. to these industries. Probably cheaper to buy a Spain or German bond govt bond , you get higher interest rate with the same risk as buying solar stocks. To me what other industries could be in same situation? <br />The bill before congress to remove the swaps and prop trade components of the big banks from their control. This bill could force C,GS,BAC,MS,WFC,JPM to spin off these components. (we can only hope).<br /><br /> BP spill will cause more expensive ops in the gulf, IE higher fuel prices.<br /><br />All these forces are coming together at the sametime, please tell me what good things are offsetting these items. Only thing I can come up with is earnings beat from an arbitrary target set by the analysts. Not much good news to offset a repricing of the equities indexes.Bobhttps://www.blogger.com/profile/05648774595974793332noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-66167562444533239632010-05-24T16:28:29.281-04:002010-05-24T16:28:29.281-04:00Yes, this is a great post, but striking Section 31...Yes, this is a great post, but striking Section 3101 will never happen in a million years because it makes too much sense.mike normanhttps://www.blogger.com/profile/03296006882513340747noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-70180252732403114822010-05-24T14:51:17.643-04:002010-05-24T14:51:17.643-04:00Breakin' it down - great post, Matt!Breakin' it down - great post, Matt!MortgageAngelhttps://www.blogger.com/profile/02797341866990387426noreply@blogger.com