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Recent content by oldreliable67

  1. oldreliable67

    Ron Paul: 22.8% Real Unemployment!

    Well, no, they aren't. Check the last employment situation report and you'll see that the previous two month's nonfarm payroll numbers were revised upwards. Upward revisions occur for several reasons: as has been mentioned above, the monthly report is a survey; but periodically (quarterly and...
  2. oldreliable67

    Private School Vs. Public School

    If you examine the history of 'school choice' versus 'mandated busing,' you will find that most school systems were required to bus kids in order to achieve racial balance in the schools. The old days of attending your neighborhood school was pretty well done away with via the courts.
  3. oldreliable67

    Quantitative Easing has little to no effect on main street

    Even so, you're still missing the boat. For lending to 'small businesses' you need to look at not only C&I loans but also SBA activity. The primary lending facilities to small businesses are the SBA 7(a) program, in which the SBA guarantees portions of loans extended by financial institutions...
  4. oldreliable67

    Quantitative Easing has little to no effect on main street

    I read it entirely correctly. You merely want to pick out something that supports your position, even if it is not an accurate representation of the total. Look at the growth of C&I loans and then tell me banks aren't lending.
  5. oldreliable67

    Quantitative Easing has little to no effect on main street

    The Fed's most recent 'Senior Loan Officer Survey' suggests otherwise: "In the July survey, modest fractions of domestic banks, on balance, continued to report having eased their lending standards across most loan types over the past three months.2 Relatively large fractions reported stronger...
  6. oldreliable67

    Monetary Policy could never cause inflation

    Good article. Thanks for the link.
  7. oldreliable67

    Monetary Policy could never cause inflation

    At first glance, you seem to be confusing changes in the level of the stock of money with it's rate of turnover, or velocity. Perhaps you could elaborate a bit more on your assertion?
  8. oldreliable67

    The National Deficit is meaningless

    Do you see the circular logic in here? If they paid their workers more, their goods would cost more to produce, hence they would sell less to us, thereby accumulating fewer profits in dollars to invest in US Treasuries. Your reasoning presumes that foreign, including our goods, would still be...
  9. oldreliable67

    The National Deficit is meaningless

    None of which could have happened without the 'they'll never go down in price' mindset.
  10. oldreliable67

    The National Deficit is meaningless

    There is still a huge amount of debt outstanding with rates significantly higher than those at which debt is being sold today. According to Treasury, the average interest rate on all interest-bearing US debt outstanding was 2.651% at 6/30/2012, as compared to 2.826% at 12/31/2011, 2.992% at...
  11. oldreliable67

    The National Deficit is meaningless

    As noted, that's the CBO projection. I have quoted and linked several times to research suggesting that countries in roughly our same situation (high and growing deficits, slow economic growth) successfully repaired their situation via a combination of fiscal packages comprising about 85%...
  12. oldreliable67

    The National Deficit is meaningless

    As a counter-point to your OP, here is another viewpoint, an excerpt from a dialogue, A Q&A with AEI’s Michael Strain and Arthur Brooks: "At some point, does the level of debt get too large and crush the economy? How close are we to that point? Yes, the level of debt can get too large. The...
  13. oldreliable67

    The National Deficit is meaningless

    Reminds me of the mind set that helped produce the housing bubble, the Tulip mania, etc, etc.
  14. oldreliable67

    Fed Gets Audited

    Well, yes, you are talking about at a single point in time if you are referring to a balance sheet. A balance sheet does indeed represent account balances as of a particular point in time, as compared to a profit and loss statement, which measures cumulative results over some defined period of...
  15. oldreliable67

    David Harvey on the Economic Crisis

    Analysis? What 'analysis?' Just assertion and opinion. Just force-fitting an underlying set of facts into the author's preferred point of view via a gimmicky presentation.
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