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Recent content by Rhapsody1447

  1. Rhapsody1447

    2013 spending, budget, and monetary policy discussion

    Corporate Profits and the Deficit One of the more interesting characteristics of the post crisis financial environment has been continued strong corporate profits - in spite of high unemployment and mediocre economic growth. The chart below illustrates this point, showing the recent divergence...
  2. Rhapsody1447

    2013 spending, budget, and monetary policy discussion

    Debt Debate Rages On Main Points There is a fundamental misunderstanding not only about debt’s role in the economy, but also the current state of the federal debt and deficit. Debt itself should not be ascribed any ethical connotations, as it is not inherently “good” or “bad”. Debt should be...
  3. Rhapsody1447

    2013 spending, budget, and monetary policy discussion

    Great topic Kush! Always encouraging to see some serious discussion around the topics that truly matter. The conversation seems to have gone down the road of the debt, deficit, and the economy (all great points I'd like to comment on) but it seems your original post was touching on a bit more...
  4. Rhapsody1447

    Fannie Mae Is a Government Cash Machine [W:84:139]

    re: Fannie Mae Is a Government Cash Machine [W:84] Not quite yet... As you can see (also mentioned in your link...), cash has very little to do with it. I'm sure the timing of the revaluation right before the debt ceiling is purely coincidental...
  5. Rhapsody1447

    Mutual Fund

    Her point (and mine) was that over the long run indexing is a better strategy for less experienced investors. For people with limited experience and time, trying to generate alpha through market timing, sector selection, or manager selection tends to underperform passive index investing. Mutual...
  6. Rhapsody1447

    Mutual Fund

    I'm pretty sure mutual funds are required by law to be long-only. All passive mutual funds are going to have a beta of 1.. it just depends what factor/index you want beta to. I wouldn't recommend new investors selecting activist funds since, on average, they underperform passive over the long run.
  7. Rhapsody1447

    Mutual Fund

    Give this a try: Mutual Funds: Introduction | Investopedia
  8. Rhapsody1447

    Kyle Bass: The ZIRP trap [W:108/221]

    This should read INSTEAD of rising interest rates - not in spite of. See here: Bond Vigilantes and the Power of Three - NYTimes.com
  9. Rhapsody1447

    Kyle Bass: The ZIRP trap [W:108/221]

    Walk me through the math here because I'm having a hard time understanding what you're saying. A 5% gain in industrial production? Public investment? 12.6x what? Investment to revenue multiplier? Additional debt service cost to revenue multiplier? Current projected 2013 deficit is 45.46...
  10. Rhapsody1447

    Kyle Bass: The ZIRP trap [W:108/221]

    And when they aren't? Will investors tolerate negative real yields when the same securities have been earning 2-3% for 20 years and equity markets are skyrocketing?
  11. Rhapsody1447

    Creating money: Explain this to me like I'm 5 years old.

    Here is a great piece from the Fed on the process behind money creation and the phenomenon of excess reserves. To the OP, I think your description of MMT is a bit exaggerated - the theory doesn't state that deficits don't matter and money creation can't cause inflation. MMT argues that the...
  12. Rhapsody1447

    Has participation on this forum changed your political views?

    Kushinator/Cardinal/Jeezy/JP have all moved me leftward on economic matters. I'm still not changing my lean though
  13. Rhapsody1447

    Fed’s Holdings of U.S. Gov't Debt Hit Record $1,696,691,000,000; Up 257% Under Obama

    Re: Fed’s Holdings of U.S. Gov't Debt Hit Record $1,696,691,000,000; Up 257% Under Ob Just to keep this number in perspective
  14. Rhapsody1447

    How about yourself? I've noticed the economics forum has declined in quality quite a bit.. the...

    How about yourself? I've noticed the economics forum has declined in quality quite a bit.. the number of posters I actually read on this board get fewer and fewer every time I check it. I'm sure RL is treating you nicely if you're still working in the markets. What's your personal outlook?
  15. Rhapsody1447

    Hey man, been doing great just been super busy recently so I haven't been able to post much. The...

    Hey man, been doing great just been super busy recently so I haven't been able to post much. The rally is great! I gotta say, business is much better when things are going up.. and being bullish leaves a better taste in everyone's mouth. My economic perspective is pretty radically different than...
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