Comments on: Afternoon Reading http://www.ritholtz.com/blog/2009/04/afternoon-reading/ Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media Tue, 14 Feb 2012 16:09:43 +0000 hourly 1 http://wordpress.org/?v=3.0.5 By: Graphite http://www.ritholtz.com/blog/2009/04/afternoon-reading/comment-page-2/#comment-166497 Graphite Thu, 30 Apr 2009 03:17:12 +0000 http://www.ritholtz.com/blog/?p=24990#comment-166497 I always love the argument that "a lot of things were still bad in the year 1910, so therefore laissez-faire capitalism failed," followed by, "things continued to improve during the 20th century, when we had regulation, so therefore regulation was a success!" Effing brilliant reasoning. If per-capita income measures don't convince you that the nineteenth century was a period of remarkable progress in human welfare, the gains in life expectancy that were produced should: http://eh.net/encyclopedia/article/haines.demography It's kinda hard for the rich to live for 400 years and throw life expectancy stats out of whack. At any rate, if Barry wishes to post anti-libertarian critiques, he could at least find ones written by people with half a shred of credibility left, as opposed to guys like Kaufman, who was on the board of Lehman Brothers while they were helping inflate the credit bubble which he is now blaming on "libertarian dogma." http://globaleconomicanalysis.blogspot.com/2009/04/anti-libertarian-nonsense-from-henry.html I always love the argument that “a lot of things were still bad in the year 1910, so therefore laissez-faire capitalism failed,” followed by, “things continued to improve during the 20th century, when we had regulation, so therefore regulation was a success!” Effing brilliant reasoning.

If per-capita income measures don’t convince you that the nineteenth century was a period of remarkable progress in human welfare, the gains in life expectancy that were produced should: http://eh.net/encyclopedia/article/haines.demography It’s kinda hard for the rich to live for 400 years and throw life expectancy stats out of whack.

At any rate, if Barry wishes to post anti-libertarian critiques, he could at least find ones written by people with half a shred of credibility left, as opposed to guys like Kaufman, who was on the board of Lehman Brothers while they were helping inflate the credit bubble which he is now blaming on “libertarian dogma.”

http://globaleconomicanalysis.blogspot.com/2009/04/anti-libertarian-nonsense-from-henry.html

]]> By: Mark E Hoffer http://www.ritholtz.com/blog/2009/04/afternoon-reading/comment-page-2/#comment-166163 Mark E Hoffer Wed, 29 Apr 2009 12:50:49 +0000 http://www.ritholtz.com/blog/?p=24990#comment-166163 mark, Polaroid much? Universalize more? one courthouse out of 67? yep, that'll explain Everything. last Year explains the last ~25. way to go.. mark,

Polaroid much? Universalize more?

one courthouse out of 67? yep, that’ll explain Everything.

last Year explains the last ~25.

way to go..

]]> By: markd http://www.ritholtz.com/blog/2009/04/afternoon-reading/comment-page-2/#comment-166157 markd Wed, 29 Apr 2009 12:36:46 +0000 http://www.ritholtz.com/blog/?p=24990#comment-166157 I do. I live in Pa. (where the closed primary was created), and am in my county courthouse at least 3 days a week. It was amazing how many people were lining up to change parties last year, And Obama, not Clinton won the primary in my county. And of course you ignore the point about a Reagan Democrat is a registered Democrat. So I guess the answer to my question is: yes, a lot. I do. I live in Pa. (where the closed primary was created), and am in my county courthouse at least 3 days a week. It was amazing how many people were lining up to change parties last year, And Obama, not Clinton won the primary in my county. And of course you ignore the point about a Reagan Democrat is a registered Democrat. So I guess the answer to my question is: yes, a lot.

]]> By: Mark E Hoffer http://www.ritholtz.com/blog/2009/04/afternoon-reading/comment-page-2/#comment-166151 Mark E Hoffer Wed, 29 Apr 2009 12:11:47 +0000 http://www.ritholtz.com/blog/?p=24990#comment-166151 mark, that's funny, but it's obvious that you have no idea what 'closed primaries' do to one's party Registration status.. mark,

that’s funny, but it’s obvious that you have no idea what ‘closed primaries’ do to one’s party Registration status..

]]> By: markd http://www.ritholtz.com/blog/2009/04/afternoon-reading/comment-page-2/#comment-166142 markd Wed, 29 Apr 2009 11:53:55 +0000 http://www.ritholtz.com/blog/?p=24990#comment-166142 @ MEH A Reagan Democrat was already registered as a Democrat. a-hole much? @ MEH

A Reagan Democrat was already registered as a Democrat. a-hole much?

]]> By: Mark E Hoffer http://www.ritholtz.com/blog/2009/04/afternoon-reading/comment-page-2/#comment-166134 Mark E Hoffer Wed, 29 Apr 2009 10:45:12 +0000 http://www.ritholtz.com/blog/?p=24990#comment-166134 VD, "Reagan Democrats" switching from (R) to (D) to vote for Hillary in Pennsylvania's closed Primaries would explain things neatly, no? funny what the Truth does.. please don't ask what a "closed Primary" is, I'm sure www.clusty.com works on your end of the WorldWideWiretap.. VD,

“Reagan Democrats” switching from (R) to (D) to vote for Hillary in Pennsylvania’s closed Primaries would explain things neatly, no?

funny what the Truth does..

please don’t ask what a “closed Primary” is, I’m sure http://www.clusty.com works on your end of the WorldWideWiretap..

]]> By: VennData http://www.ritholtz.com/blog/2009/04/afternoon-reading/comment-page-2/#comment-166132 VennData Wed, 29 Apr 2009 09:00:44 +0000 http://www.ritholtz.com/blog/?p=24990#comment-166132 The GOP media machine's talking point on Specter that "He expected to face a tough Primary" obscures this fact: "...With about a quarter-million Pennsylvania Republicans having switched their registration to Democratic in the last two years, analysts say the GOP primary electorate is smaller and more conservative than it was when Specter won his fifth term in 2004. That augurs well for Toomey, who also is to Specter's right on abortion and other social issues...." http://www.philly.com/inquirer/front_page/20090323_Toomey_poised_to_take_on_Specter.html So no GOP, Toomey, Specter, can win the the Deep blue PA. And all these "Specter is a slime because he switched parties" fails to mention the morally-rudderless Ronald Reagan, who not only switched parties, but flip-flopped on the abortion issue to run for President. The GOP media machine’s talking point on Specter that “He expected to face a tough Primary” obscures this fact:

“…With about a quarter-million Pennsylvania Republicans having switched their registration to Democratic in the last two years, analysts say the GOP primary electorate is smaller and more conservative than it was when Specter won his fifth term in 2004. That augurs well for Toomey, who also is to Specter’s right on abortion and other social issues….”

http://www.philly.com/inquirer/front_page/20090323_Toomey_poised_to_take_on_Specter.html

So no GOP, Toomey, Specter, can win the the Deep blue PA.

And all these “Specter is a slime because he switched parties” fails to mention the morally-rudderless Ronald Reagan, who not only switched parties, but flip-flopped on the abortion issue to run for President.

]]> By: ohemingway http://www.ritholtz.com/blog/2009/04/afternoon-reading/comment-page-2/#comment-166114 ohemingway Wed, 29 Apr 2009 03:34:30 +0000 http://www.ritholtz.com/blog/?p=24990#comment-166114 There were booms and busts long before ther was a Fed or any other regulation for that matter. There have been booms and bust since the Fed and regulation. There were booms and busts long before ther was a Fed or any other regulation for that matter. There have been booms and bust since the Fed and regulation.

]]> By: Bruce in Tn http://www.ritholtz.com/blog/2009/04/afternoon-reading/comment-page-2/#comment-166105 Bruce in Tn Wed, 29 Apr 2009 02:05:43 +0000 http://www.ritholtz.com/blog/?p=24990#comment-166105 Well,consumer confidence is regarded as a trash statistic by most...however retail sales are hard data and they stink once again... http://online.barrons.com/public/page/barrons_econoday.html ICSC retail sales...continue their week after week decline...and this is us not the Japanese Well,consumer confidence is regarded as a trash statistic by most…however retail sales are hard data and they stink once again…

http://online.barrons.com/public/page/barrons_econoday.html

ICSC retail sales…continue their week after week decline…and this is us not the Japanese

]]> By: HCF http://www.ritholtz.com/blog/2009/04/afternoon-reading/comment-page-2/#comment-166100 HCF Wed, 29 Apr 2009 01:22:37 +0000 http://www.ritholtz.com/blog/?p=24990#comment-166100 @DL: >But it won’t be long before the Fed loses control over the 10-year yield. This always reminds me of the gambler's ruin problem: http://en.wikipedia.org/wiki/Gambler%27s_Ruin "A gambler with finite wealth, playing a fair game (that is, each bet has expected value zero to both sides) will eventually go broke against an opponent with infinite wealth." The question is, who has the infinite wealth here, the Fed or the markets? My guess is that a government can only print so much money before it loses all credibility and control. HCF @DL:
>But it won’t be long before the Fed loses control over the 10-year yield.

This always reminds me of the gambler’s ruin problem:
http://en.wikipedia.org/wiki/Gambler%27s_Ruin
“A gambler with finite wealth, playing a fair game (that is, each bet has expected value zero to both sides) will eventually go broke against an opponent with infinite wealth.”

The question is, who has the infinite wealth here, the Fed or the markets? My guess is that a government can only print so much money before it loses all credibility and control.

HCF

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