J.M. Hamilton - Blog
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BLOG.JMHAMILTONPUBLISHING.COM: Monthly Archives for August 2010

China's Trade Surplus Grows at the Expense of America and the the America Worker... Labor Arbitrage at Its Worst!

Reality Check From Shadow Government....

"The Fed bought $1.25 trillion in mortgage-backed securities, and another $200 billion in debts owed by government-sponsored enterprises, primarily Fannie Mae and Freddie Mac, and completed the purchases in March."

Democrats "Get It": Increases in Government Spending must Be Paired with Increases in Revenue! The Polar Opposite are Republicans who Want to Cut Taxes, but Not Tell the American Public What Spending They Want to Cut... !

"KKR, which listed less than a month ago on the New York Stock Exchange, said on Monday it canceled plans to sell $500 million of new common units."

The Abject Failure of Prohibition! Malum prohibitum, versus Malum in se?

"... in some cases, executives failed to grasp the potential dangers partly because the risks were obscured, even to them, via off-balance-sheet programs."

Get Ready for the Next Financial Crisis: "Parts of the Volcker rule, a provision of the new Dodd-Frank Act that would force firms to cut stakes in in-house hedge funds and private-equity units, may not go into effect for a dozen years."

Freddie, Finally, Shoveling Toxic Mortgages back at Loan Originators... THE BANKS!

BLOATED?

Huge Holes in the Volcker Rule...

Please... It will be Years before Volcker Rule Kicks In, and the Banks Will Fight it Every Step of the Way...

Obama on the Offensive... Of Course, a Democratic Attack Would carry more Weight, if there was a Greater Contrast Between the Obama and Bush Administration's Policies...

“If someone, like government departments, want to monitor the message, they can do it.”

Big Oil Owns MMS & Louisiana!

"The BlackBerry in particular has become a ubiquitous tool of bankers, company executives, political activists and diplomats. Its government-level 256-bit encryption is at the heart of its appeal."

"DEFICITS ARE JUST FUTURE TAXES" OR REDUCTIONS IN GOVERNMENT SPENDING!

Organized Gambling a Fount of Revenue for Goldman.... Pity the Taxpayer!

More “let them eat cake” from an Architect of our Destruction, former Treasury Secretary, Goldman Alum, and Citi Chairmen, Robert Rubin: “A ‘major second stimulus’ might create uncertainty and undermine confidence.”

"You get a complete breakdown of American society, replete with corruption and abuse of power, a brutal economic recession, wrenching long-term unemployment, massive deficit spending and an opportunity for power-grabbing, stagnant wages..."

Retro Blog: "The current law mandates prompt corrective action, which means speedy resolution of insolvencies." & "If cheaters prosper, cheaters will dominate."

Mr. Laing is Sorely Misguided. QE is Another Bank Bailout Plan, That Will Load Up the Feds Balance Sheet with Toxic Assets and Severely Debase An Already Debased Currency: The U.S. Dollar…

Soaked in Optimism or Soaked in Government (Bailout) Money?

Tooth Fairy, Easter Bunny, and Santa... All Arrive in D.C. Apparently, they're upset about the competition from the Pols.

Per Dodd: Consumer Advocate would Not be a Good Candidate for Consumer Financial Protection Bureau

Benmosche's Dream....Hey if the U.S. Government Forgives Debts Owed, and After a Few More Bailouts, Why Not???

"Goldman is considering several options, including moving the traders to another division or shutting the unit altogether, according to people briefed on the matter." Of Course as an Alternative, Goldman could give up access to Fed Funds.

Crisis into Political Gold???

And with the Advent of Global Strike Weapons...Why Not Eliminate Nukes?

"You would think such uncertainty would bedevil the stock market. Apparently not, which seems befuddling in itself."

Does Anyone, Anyone Know What President Bush Called This...??? Anyone??? VooDoo Economics!

Look at It Climb... So Much for Voodoo Economics

"Either way, both believe unemployment will remain at uncomfortably high levels for several years."

“I can’t say we’ve seen any direct impacts here yet,” an American officer in eastern Afghanistan said this week of the disclosure.

"Another worker on Transocean’s Marianas rig said that the safety manual seemed to be 'written for the courtroom, not the oil field.'"

That Would Be Approximately 125 Million Barrels of Oil... If One Believes NOAA's Estimate...

"The settlement prohibits Intel from paying customers to buy its computer chips exclusively or paying them to reject chips from other manufacturers. It also prohibits Intel from redesigning its chips purely to harm a competitor."

"Net Neutrality" Under Attack by Google and Verizon....

C.B.O.: Federal Debt and the Risk of a Fiscal Crisis

Goldman Seeks To Duck Responsibility for, as Goldman Called it: "one shi**y deal.”

“We must give our troopers the confidence to take all necessary actions when it matters most, while understanding the strategic consequences of civilian casualties.”

"...other entrepreneurs continue to struggle. The Wells Fargo/Gallup Small Business Index fell to a record low in July. Some 42% said it was 'somewhat' or 'very difficult' to obtain credit."

“It’s difficult to see consumer spending doing a lot better until we see more job growth.”

Savings on the Rise... Note Savings Also Includes Paying Down Debt...

Thank Goodness We've Got the All Clear.... that must mean Business As Usual for Big Oil and Offshore Drilling...?

GDP Around 1.7%?

Retro Blog: Let us Mourn Transparency and Financial Reform

Who is paying that $75 million fine?

"I will stay as long as he asks me to stay."

Believe What Mr. Stockman was Arguing: During the Last Thirty Years of Republican Hegemony That, At Least in the Prosperous Times, The Republicans Could Have Been Far More Responsible: Fiscally, Monetarily, and in terms of Regulation!

Latest ISM Report....

Where's Your Money

"The static kill may take 33 hours to 61 hours to complete, depending on whether just the drill pipe, or both it and the annulus, must be plugged with mud, Allen said."

"Mr. Zielinski also questioned Mr. Ryan’s professed passion about the deficit; where, he asked, was Mr. Ryan’s concern during the Bush administration?"

Iraq: "By the end of this month, the American force in Iraq will have shrunk to just 50,000 troops, from 144,000."

"We might even decide, nine years after our arrival, that it is time to leave Afghanistan."

A Few Words from the Reagan Budget Director: "...the new catechism, as practiced by Republican policymakers for decades now, has amounted to little more than money printing and deficit finance — vulgar Keynesianism..."

"I'm calling on the Republican leaders in the Senate to stop holding America's small businesses hostage to politics, and allow an up-or-down vote on this small business jobs bill," Obama said.

Absolutely Brilliant Piece: "Note that the government's crimes against Ellsberg have since been legalized, mostly under the USA Patriot Act."

Some worry that having foreign countries own so much of our debt is a huge risk because it makes us vulnerable to governments whose interests don't necessarily coincide with ours.

The SURGE In Action: "With $200 million from Japan and other allies, and an additional $100 million in Pentagon money, American military officers will soon be handing out money to lure people away from the insurgency."

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