link: http://bit.ly/1n2Aw52
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- @Macrotots Yep, Its the what have you done for me lately mentality. Also Dems will argue Obama deficits were necessary to get us out of recession, but that Trump deficits caused problems as the economy was growing when they were run up.
- @RJChancey Times are not very good. That is exactly what Republicans were claiming just before the 2008 financial crisis. We are actually in worse shape now than we were then, and headed for an even greater economic crisis.
- Given how large past #Republican deficits have been relative to the initial rosy projections when the goal was to balance in 10 years, imagine how much further off the mark #Trump's deficits will be when even the pretense of eventual balance has been dropped!
- The higher Dec. trade deficit likely mean last quarter's low #GDP number will be revised even lower. It also likely means that GDP growth for all of 2017 may be less than the average annual growth rate experienced during Obama's 2nd term. But hope springs eternal for 2018.
- June factory orders rose 1.8%, but fell year-over-year for the 8th consecutive month, the longest losing streak ever outside of a recession!
- (1/2) Global stock markets are now nearly as oversold as at the market low in October 1987. Expect a powerful and tradable rally of 20% or so from here. Cover all shorts and go long the most oversold stocks. However, do not expect new highs.
- Ron Paul's Economic Myth Busters: Inflation & Capital Creation @SchiffGold http://bit.ly/1NosMPY
- Former Dallas Fed Pres. Richard Fisher throws former colleges under the bus in CNBC interview. He said "don't blame me I voted against QE3"!
- Malinvestment and the Austrian Business Cycle, as explained by Yogi Berra
- What should The Big Short have said about the Fed or Fannie/Freddie?
Tuesday, January 5, 2016
The Economy of the Star Wars Galaxy [small spoilers]
I enjoyed the new star wars movie, but I couldn't shake a certain sense of disappointment that I couldn't place until thinking about it later. It eventually came to me that what was missing from the movie was actually economic prosperity! The end of The Return of the Jedi was so exciting because both Darth Vader and the Emperor had been killed, leading to impromptu mass celebrations in streets all over the galaxy. Beings everywhere were apparently experiencing a new found sense of freedom and optimism about the future. Flash forward 30 years to the new movie, and what improvements do we see? Zero. For all intents and purposes the general standard of living of the populous appears exactly the same - which might as well be considered negative when considering the opportunity costs of all that time passed. I mean a droid built by Annikin 60ish years ago is still in regular use with no obvious upgrades? The millennium falcon is still a match for newly built star ships? Han is still a small time hustler and Leia is still in fatigues tromping around from planet to planet directing individual battles? Work for food arrangements still survive? Color me disappointed. The story was compelling, but in my heart of hearts, I don't think George Lucas would have let the familiar trump the possible like J.J. did.