Comments on: Quote of the Day: Phil Gramm http://www.ritholtz.com/blog/2008/12/quote-of-the-day-phil-gramm/ 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/quote-of-the-day-phil-gramm/comment-page-1/#comment-132362 Mark E Hoffer Thu, 11 Dec 2008 03:44:12 +0000 http://www.ritholtz.com/blog/?p=12144#comment-132362 AGG, with this: "So, do you agree with corporate personhood? If so, is it based on a Supreme Court decision from the 19th century or the Constitution?" no, 'corporate personhood' w/o the 'death penalty', a la Nader, is atrocious. re: what was its 'birthing' based on? I'd have to 2x-check, though, I was under the impression that it was derived from the 14th Amendment.. AGG,

with this: “So, do you agree with corporate personhood? If so, is it based on a Supreme Court decision from the 19th century or the Constitution?”

no, ‘corporate personhood’ w/o the ‘death penalty’, a la Nader, is atrocious.

re: what was its ‘birthing’ based on? I’d have to 2x-check, though, I was under the impression that it was derived from the 14th Amendment..

]]> By: Mannwich http://www.ritholtz.com/blog/2008/12/quote-of-the-day-phil-gramm/comment-page-1/#comment-132359 Mannwich Thu, 11 Dec 2008 03:07:48 +0000 http://www.ritholtz.com/blog/?p=12144#comment-132359 This is comforting (from Calculated Risk): Four years ago I predicted the Total Public Debt Outstanding would reach $10 trillion by the time Mr. Bush left office in Jan 2009. I jokingly called him the "$10 trillion man". I was too optimistic. The Total Public Debt Outstanding is now over $10.6 trillion. And the budget deficit has grown significantly. From MarketWatch: U.S. Nov. budget deficit $164.4 bln vs $98.2 bln yr-ago The U.S. federal government deficit soared again in November to $164.4 billion, the Treasury Department reported Wednesday. This is a record shortfall for the month of November. The graphs, especially the second one, are quite, ahem, illuminating........ This is comforting (from Calculated Risk):

Four years ago I predicted the Total Public Debt Outstanding would reach $10 trillion by the time Mr. Bush left office in Jan 2009. I jokingly called him the “$10 trillion man”.

I was too optimistic.

The Total Public Debt Outstanding is now over $10.6 trillion. And the budget deficit has grown significantly.

From MarketWatch: U.S. Nov. budget deficit $164.4 bln vs $98.2 bln yr-ago

The U.S. federal government deficit soared again in November to $164.4 billion, the Treasury Department reported Wednesday. This is a record shortfall for the month of November.

The graphs, especially the second one, are quite, ahem, illuminating……..

]]> By: AGG http://www.ritholtz.com/blog/2008/12/quote-of-the-day-phil-gramm/comment-page-1/#comment-132356 AGG Thu, 11 Dec 2008 02:53:36 +0000 http://www.ritholtz.com/blog/?p=12144#comment-132356 Sorry about the typos. I hope it's true that intelligent people are lousy spellers. Sorry about the typos. I hope it’s true that intelligent people are lousy spellers.

]]> By: AGG http://www.ritholtz.com/blog/2008/12/quote-of-the-day-phil-gramm/comment-page-1/#comment-132354 AGG Thu, 11 Dec 2008 02:50:38 +0000 http://www.ritholtz.com/blog/?p=12144#comment-132354 Hoffer, So, do you agree with corporate personhood? If so, is it based on a Supreme Court decision from the 19th century or the Constitution? Phil Graham loves corporate personhood. Limited liability and immortality all in one package. Don't you just love that marketplace? I'm sure if King Kong had been real, he'd have always open to competition from the neighboring human tribes. Hoffer,
So, do you agree with corporate personhood? If so, is it based on a Supreme Court decision from the 19th century or the Constitution?
Phil Graham loves corporate personhood. Limited liability and immortality all in one package. Don’t you just love that marketplace? I’m sure if King Kong had been real, he’d have always open to competition from the neighboring human tribes.

]]> By: AGG http://www.ritholtz.com/blog/2008/12/quote-of-the-day-phil-gramm/comment-page-1/#comment-132347 AGG Thu, 11 Dec 2008 02:42:50 +0000 http://www.ritholtz.com/blog/?p=12144#comment-132347 Hoffer, Sorry about alluding to you being a high bidder the other day. I guess I got carried away. I will continue to point out what I perceive as way to much apologizing for corporate rapacious behavior by many commenters. Opinion is great but shilling, hypocracy and sanctimoneous holier than thou attitudes towards capitalism or any other "ism" are not acceptable to me. I never ran with the crowd and I don't think you have either. That said, I think Mannwich has a much better handle on reality than you do, with all due respect to your erudition. Hoffer,
Sorry about alluding to you being a high bidder the other day. I guess I got carried away.
I will continue to point out what I perceive as way to much apologizing for corporate rapacious behavior by many commenters. Opinion is great but shilling, hypocracy and sanctimoneous holier than thou attitudes towards capitalism or any other “ism” are not acceptable to me. I never ran with the crowd and I don’t think you have either. That said, I think Mannwich has a much better handle on reality than you do, with all due respect to your erudition.

]]> By: Winston Munn http://www.ritholtz.com/blog/2008/12/quote-of-the-day-phil-gramm/comment-page-1/#comment-132336 Winston Munn Thu, 11 Dec 2008 02:24:42 +0000 http://www.ritholtz.com/blog/?p=12144#comment-132336 To the tune of Seargant Pepper It was five years ago today Phil Gramm told us how to play You're all a bunch of whiney dudes And I'm sorry I ever helped you If you ever need another hand Don't look my way again The Whiney Loser Exceptional American Band To the tune of Seargant Pepper

It was five years ago today
Phil Gramm told us how to play
You’re all a bunch of whiney dudes
And I’m sorry I ever helped you
If you ever need another hand
Don’t look my way again
The Whiney Loser Exceptional American Band

]]> By: Mark E Hoffer http://www.ritholtz.com/blog/2008/12/quote-of-the-day-phil-gramm/comment-page-1/#comment-132335 Mark E Hoffer Thu, 11 Dec 2008 02:20:11 +0000 http://www.ritholtz.com/blog/?p=12144#comment-132335 bhwhite, kindly, though, with this: "Perhaps he might move to Crawford, or is it Dallas now the “rancher thing” is unneeded, and join that other great Texan who is always right. Just imagine those two sages standing by whenever we need them. "--you might think about breaking your addiction to HeadlineNews.. wtf? of course, see: http://www.grandinite.com/2007/08/24/bush-buys-99000-acre-compound-on-aquifer-in-paraguay/ or, if you rather: http://www.icerocket.com/search?tab=web&lng=&q=chaco%2C+paraguay+bush ~~ AGG: with this: "Truth is in short supply these days. If my credibility is shot with you then continue to disagree with me....Did you know where we got corporate personhood from? THE RAILROADS." No kidding. That's the way it is, in the Marketplace. Repeal the 14th Amendment!~ Remember, the Constitution has soo many Amendments, the 'Constitution' is now Un-Constitutional. bhwhite,

kindly, though, with this: “Perhaps he might move to Crawford, or is it Dallas now the “rancher thing” is unneeded, and join that other great Texan who is always right. Just imagine those two sages standing by whenever we need them. “–you might think about breaking your addiction to HeadlineNews..

wtf? of course, see:
http://www.grandinite.com/2007/08/24/bush-buys-99000-acre-compound-on-aquifer-in-paraguay/
or, if you rather:
http://www.icerocket.com/search?tab=web&lng=&q=chaco%2C+paraguay+bush
~~
AGG:

with this: “Truth is in short supply these days. If my credibility is shot with you then continue to disagree with me….Did you know where we got corporate personhood from? THE RAILROADS.”

No kidding. That’s the way it is, in the Marketplace.

Repeal the 14th Amendment!~

Remember, the Constitution has soo many Amendments, the ‘Constitution’ is now Un-Constitutional.

]]> By: AGG http://www.ritholtz.com/blog/2008/12/quote-of-the-day-phil-gramm/comment-page-1/#comment-132327 AGG Thu, 11 Dec 2008 02:08:12 +0000 http://www.ritholtz.com/blog/?p=12144#comment-132327 Barry, Sorry for this off topic thing but this fellow richard has historical inaccuracies clogging his neurons. Richard says, "The first railroads (US 1820s and 1830s, say) used squared logs topped with iron straps, as wood alone lacked longevity. By the early 1840s (that’s 20+ years before the Civil War) solid iron (later steel) rails in something very close to the shape we know today were already in almost universal use, exceptions being the smallest, slowest, shortest railroads (Adirondack mining and logging roads, for example). That is, strap iron rails were a stage of development, not the produce of plutocrat parsimony. " The big accidents didn't even start until 1837. The iron straps were replaced as locomotive weight AND accidents forced the move and they were still there in 1864 in more than half (universally eliminated, my ass!) of the rail lines. You are a railroad apologist, not a historian. You, sir, are wrong. If you want to sugar coat American industrial history, i'm sure you'l find a lot of phd PR hacks in university departments to back you up. Truth is in short supply these days. If my credibility is shot with you then continue to disagree with me. You'll still be wrong. Why don't you go buy some BNI like Buffett? It's one of those saintly railroads. Did you know where we got corporate personhood from? THE RAILROADS. Sell it to someone else, pal. Barry,
Sorry for this off topic thing but this fellow richard has historical inaccuracies clogging his neurons.
Richard says, “The first railroads (US 1820s and 1830s, say) used squared logs topped with iron straps, as wood alone lacked longevity. By the early 1840s (that’s 20+ years before the Civil War) solid iron (later steel) rails in something very close to the shape we know today were already in almost universal use, exceptions being the smallest, slowest, shortest railroads (Adirondack mining and logging roads, for example). That is, strap iron rails were a stage of development, not the produce of plutocrat parsimony. ”
The big accidents didn’t even start until 1837. The iron straps were replaced as locomotive weight AND accidents forced the move and they were still there in 1864 in more than half (universally eliminated, my ass!) of the rail lines. You are a railroad apologist, not a historian.
You, sir, are wrong. If you want to sugar coat American industrial history, i’m sure you’l find a lot of phd PR hacks in university departments to back you up. Truth is in short supply these days. If my credibility is shot with you then continue to disagree with me. You’ll still be wrong. Why don’t you go buy some BNI like Buffett? It’s one of those saintly railroads. Did you know where we got corporate personhood from? THE RAILROADS. Sell it to someone else, pal.

]]> By: bhwhite http://www.ritholtz.com/blog/2008/12/quote-of-the-day-phil-gramm/comment-page-1/#comment-132322 bhwhite Thu, 11 Dec 2008 01:38:59 +0000 http://www.ritholtz.com/blog/?p=12144#comment-132322 What a relief. Just when I was beginning to worry about the economy, I read Gramm's comments and remembered: This man has been right about everything since he came to the US Senate, and he has been even more right since leaving. Perhaps he might move to Crawford, or is it Dallas now the "rancher thing" is unneeded, and join that other great Texan who is always right. Just imagine those two sages standing by whenever we need them. If we had only listened to them back when they were in charge, its likely we would be in a even stronger position than we are. What a relief.

Just when I was beginning to worry about the economy, I read Gramm’s comments and remembered: This man has been right about everything since he came to the US Senate, and he has been even more right since leaving.

Perhaps he might move to Crawford, or is it Dallas now the “rancher thing” is unneeded, and join that other great Texan who is always right. Just imagine those two sages standing by whenever we need them.

If we had only listened to them back when they were in charge, its likely we would be in a even stronger position than we are.

]]> By: Mark E Hoffer http://www.ritholtz.com/blog/2008/12/quote-of-the-day-phil-gramm/comment-page-1/#comment-132320 Mark E Hoffer Thu, 11 Dec 2008 01:31:31 +0000 http://www.ritholtz.com/blog/?p=12144#comment-132320 Mannwich, I hear ya, that's why I like the name: "Fleet Center", as in, your 'investment', either as taxpayer, or as 'Investor'--in that 'Bank'--was 'Fleet', on its way out the Door.. as an aside, remember: it's a Foolish consistency...that breeds great ills.. and, to Quote: Ralph Waldo Emerson (1803–1882) QUOTATION: A foolish consistency is the hobgoblin of little minds, adored by little statesmen and philosophers and divines. http://www.bartleby.com/100/420.47.html given the crack at the end of that, popularly truncated quote, we, really, should Wonder about Ourselves.. Though, thanks for bringing that back, RWE, and his pal, HDT, have long been favorites of mine.. Mannwich,

I hear ya, that’s why I like the name: “Fleet Center”, as in, your ‘investment’, either as taxpayer, or as ‘Investor’–in that ‘Bank’–was ‘Fleet’, on its way out the Door..

as an aside, remember: it’s a Foolish consistency…that breeds great ills..

and, to Quote: Ralph Waldo Emerson (1803–1882)
QUOTATION: A foolish consistency is the hobgoblin of little minds, adored by little statesmen and philosophers and divines.
http://www.bartleby.com/100/420.47.html

given the crack at the end of that, popularly truncated quote, we, really, should Wonder about Ourselves..

Though, thanks for bringing that back, RWE, and his pal, HDT, have long been favorites of mine..

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