Comments on: Plan? What Plan? http://www.ritholtz.com/blog/2008/12/plan-what-plan/ Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media Sat, 21 Nov 2009 11:00:47 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: Mark E Hoffer http://www.ritholtz.com/blog/2008/12/plan-what-plan/comment-page-1/#comment-130174 Mark E Hoffer Tue, 02 Dec 2008 21:24:57 +0000 http://www.ritholtz.com/blog/?p=11563#comment-130174 vaughn, I hear your point, though w/o "The Federal Reserve Act of 1913", and, associated, "Legal Tender Laws", the FedRes would have never been, or, at the minimum, would never have maintained.. They, the USGov't and the FedRes, are a Duopoly. It's why I mentioned them together. ~~ Tom K, methinks, Winnie was being facetious.. vaughn,

I hear your point, though w/o “The Federal Reserve Act of 1913″, and, associated, “Legal Tender Laws”, the FedRes would have never been, or, at the minimum, would never have maintained..

They, the USGov’t and the FedRes, are a Duopoly. It’s why I mentioned them together.

~~

Tom K,

methinks, Winnie was being facetious..

]]> By: Tom K http://www.ritholtz.com/blog/2008/12/plan-what-plan/comment-page-1/#comment-130088 Tom K Tue, 02 Dec 2008 17:21:33 +0000 http://www.ritholtz.com/blog/?p=11563#comment-130088 @Winston Munn I think you can find work as a politician. Demanding responsibility or accountability isn't a prerequisite. @Winston Munn

I think you can find work as a politician. Demanding responsibility or accountability isn’t a prerequisite.

]]> By: DeDude http://www.ritholtz.com/blog/2008/12/plan-what-plan/comment-page-1/#comment-130073 DeDude Tue, 02 Dec 2008 16:02:49 +0000 http://www.ritholtz.com/blog/?p=11563#comment-130073 Yes Barry, if you think that verifiable facts and insights into a problem should be used to design a solution to it, then you are a f**cking east-coast, intellectual, “troop-hating,” Godless, traitor and luberal. Real men don’t need facts to back their opinions and solutions, they have their neocon ideology (and Rush and O’Realy and Hanity and Kudlow and…). Yes Barry, if you think that verifiable facts and insights into a problem should be used to design a solution to it, then you are a f**cking east-coast, intellectual, “troop-hating,” Godless, traitor and luberal. Real men don’t need facts to back their opinions and solutions, they have their neocon ideology (and Rush and O’Realy and Hanity and Kudlow and…).

]]> By: vaughn http://www.ritholtz.com/blog/2008/12/plan-what-plan/comment-page-1/#comment-130072 vaughn Tue, 02 Dec 2008 16:01:00 +0000 http://www.ritholtz.com/blog/?p=11563#comment-130072 “The Plan”, being enacted, has nothing to do with ‘jumpstarting the Economy’(whatever that ever meant), and Everything to do with the further consolidation of the USGov’t/FedRes Control of the Economy...-Hoffer I don't quite buy the USGov control part. Our "leaders" seem way too feckless and uninformed to attempt such a consolidation. The Fed, the nation's "financiers" and their .gov plants however..... Hey Neid, put me down for some of that W hatred... add a touch more for the "we don't want to LOOK BACKWARD and point fingers/We need to concentrate on FIXING THINGS NOW" crowd.....the same folks who voted for that OBVIOUSLY incompetent fucktard. “The Plan”, being enacted, has nothing to do with ‘jumpstarting the Economy’(whatever that ever meant), and Everything to do with the further consolidation of the USGov’t/FedRes Control of the Economy…-Hoffer
I don’t quite buy the USGov control part. Our “leaders” seem way too feckless and uninformed to attempt such a consolidation. The Fed, the nation’s “financiers” and their .gov plants however…..

Hey Neid, put me down for some of that W hatred…
add a touch more for the “we don’t want to LOOK BACKWARD and point fingers/We need to concentrate on FIXING THINGS NOW” crowd…..the same folks who voted for that OBVIOUSLY incompetent fucktard.

]]> By: Winston Munn http://www.ritholtz.com/blog/2008/12/plan-what-plan/comment-page-1/#comment-130070 Winston Munn Tue, 02 Dec 2008 15:53:31 +0000 http://www.ritholtz.com/blog/?p=11563#comment-130070 "Kudlow...higher oil prices... bullish...lower oil prices...bullish." How can you fail to admire someone so full of bull? “Kudlow…higher oil prices… bullish…lower oil prices…bullish.”

How can you fail to admire someone so full of bull?

]]> By: DeDude http://www.ritholtz.com/blog/2008/12/plan-what-plan/comment-page-1/#comment-130069 DeDude Tue, 02 Dec 2008 15:51:41 +0000 http://www.ritholtz.com/blog/?p=11563#comment-130069 What a breeze of fresh air. Someone finally figured out that in order to solve a problem you have to understand what is driving it. I guess it does make a difference whether the neocons or democrats are running the show. Lets get back to reality. To paraphrase an old saying: “IT’S THE CONSUMER STUPID”. Our problem is that the consumer is no longer spending (more than they are earning). The reason is that they don’t have the money or the credit to overspend anymore. Give them money (stimulus checks) and give them reckless credit (via nationalized/FDIC banks), and they will get everybody out of this hole. Admittedly, the short-term solution to our problems would also be a disaster in the long term. So AFTER we get out of this depression we need to have a very serious talk with the consumer class and the investor class about hard work, fairness and adult supervision. I still don’t quite understand why the worker making cars in Detroit is overpaid at 60K/year if the MBA in New York who is making financial products that destroy our factories and economy is making over 500K/year. F**k the investor class, and more power to those who actually do some productive work for a living. What a breeze of fresh air. Someone finally figured out that in order to solve a problem you have to understand what is driving it. I guess it does make a difference whether the neocons or democrats are running the show. Lets get back to reality. To paraphrase an old saying: “IT’S THE CONSUMER STUPID”. Our problem is that the consumer is no longer spending (more than they are earning). The reason is that they don’t have the money or the credit to overspend anymore. Give them money (stimulus checks) and give them reckless credit (via nationalized/FDIC banks), and they will get everybody out of this hole. Admittedly, the short-term solution to our problems would also be a disaster in the long term. So AFTER we get out of this depression we need to have a very serious talk with the consumer class and the investor class about hard work, fairness and adult supervision. I still don’t quite understand why the worker making cars in Detroit is overpaid at 60K/year if the MBA in New York who is making financial products that destroy our factories and economy is making over 500K/year. F**k the investor class, and more power to those who actually do some productive work for a living.

]]> By: Mark E Hoffer http://www.ritholtz.com/blog/2008/12/plan-what-plan/comment-page-1/#comment-130062 Mark E Hoffer Tue, 02 Dec 2008 15:22:13 +0000 http://www.ritholtz.com/blog/?p=11563#comment-130062 larster, again, kindly, wake up. with this: "..defend an administration that could not organize a two car funeral cortege." you should remember, at the minimum, that 'Every Coin has Two Sides'. past that, feel Free to study some Bastiat: “What Is Seen and What Is Not Seen,” Bastiat wrote: There is only one difference between a bad economist and a good one: the bad economist confines himself to the visible effect; the good economist takes into account both the effect that can be seen and those effects that must be foreseen. http://www.econlib.org/library/Bastiat/basEss1.html#Chapter 1 http://fredericbastiat.com/ http://mises.org/about/3227 larster,

again, kindly, wake up. with this: “..defend an administration that could not organize a two car funeral cortege.”

you should remember, at the minimum, that ‘Every Coin has Two Sides’.

past that, feel Free to study some Bastiat: “What Is Seen and What Is Not Seen,” Bastiat wrote:

There is only one difference between a bad economist and a good one: the bad economist confines himself to the visible effect; the good economist takes into account both the effect that can be seen and those effects that must be foreseen.

http://www.econlib.org/library/Bastiat/basEss1.html#Chapter 1

http://fredericbastiat.com/

http://mises.org/about/3227

]]> By: Winston Munn http://www.ritholtz.com/blog/2008/12/plan-what-plan/comment-page-1/#comment-130056 Winston Munn Tue, 02 Dec 2008 15:03:28 +0000 http://www.ritholtz.com/blog/?p=11563#comment-130056 "I have zero tolerance for BOTH the lazy and the greedy. " Myself, I have zero tolerance for the intolerant. “I have zero tolerance for BOTH the lazy and the greedy. ”

Myself, I have zero tolerance for the intolerant.

]]> By: VoiceFromTheWilderness http://www.ritholtz.com/blog/2008/12/plan-what-plan/comment-page-1/#comment-130052 VoiceFromTheWilderness Tue, 02 Dec 2008 14:44:26 +0000 http://www.ritholtz.com/blog/?p=11563#comment-130052 depends what the money is for doesn't it. If the purpose of the money is to create friends, it doesn't much matter to you what they do with it. Remember this is the guy who said "I don't know why black people don't like me, haven't we given them a couple of Cabinet positions?" depends what the money is for doesn’t it. If the purpose of the money is to create friends, it doesn’t much matter to you what they do with it.

Remember this is the guy who said “I don’t know why black people don’t like me, haven’t we given them a couple of Cabinet positions?”

]]> By: Tom K http://www.ritholtz.com/blog/2008/12/plan-what-plan/comment-page-1/#comment-130048 Tom K Tue, 02 Dec 2008 14:33:58 +0000 http://www.ritholtz.com/blog/?p=11563#comment-130048 And what's Ms. Warren's plan? "In her view, the government should be trying to create more reliable customers for those banks by shoring up the fragile finances of the millions of American families that could not save, borrow or spend even if their banks were flush with capital." Hmmmm. "Shoring up the fragile finances of millions of American families." Trickle up economics? How exactly would she accomplish this "shoring up"? And aren't these the same "American families" who spent far beyond their means? Who took mortgages out on homes they couldn't afford? Who abused their credit to fill their homes with big screen TVs, iPods, and brand new cars? Could these be the same folks who haven't spent any time upgrading their job skills? Spent time reading to their childern. Or saved for a rainy day? Those of you think "W" is/was a conservative...and this financial crisis is the result of fiscal conservatism couldn't be further from the truth. Bankers, automakers..."American families"...I have zero tolerance for BOTH the lazy and the greedy. And I have less tolerance for the politicians and media who coddle them. And what’s Ms. Warren’s plan?

“In her view, the government should be trying to create more reliable customers for those banks by shoring up the fragile finances of the millions of American families that could not save, borrow or spend even if their banks were flush with capital.”

Hmmmm. “Shoring up the fragile finances of millions of American families.” Trickle up economics? How exactly would she accomplish this “shoring up”? And aren’t these the same “American families” who spent far beyond their means? Who took mortgages out on homes they couldn’t afford? Who abused their credit to fill their homes with big screen TVs, iPods, and brand new cars?

Could these be the same folks who haven’t spent any time upgrading their job skills? Spent time reading to their childern. Or saved for a rainy day?

Those of you think “W” is/was a conservative…and this financial crisis is the result of fiscal conservatism couldn’t be further from the truth. Bankers, automakers…”American families”…I have zero tolerance for BOTH the lazy and the greedy. And I have less tolerance for the politicians and media who coddle them.

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