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	<title>Comments on: The Eternal Economic Seminar</title>
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	<link>http://www.ritholtz.com/blog/2009/08/the-eternal-economic-seminar/</link>
	<description>Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media</description>
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		<title>By: Greg0658</title>
		<link>http://www.ritholtz.com/blog/2009/08/the-eternal-economic-seminar/comment-page-1/#comment-211333</link>
		<dc:creator>Greg0658</dc:creator>
		<pubDate>Wed, 02 Sep 2009 18:32:38 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=37088#comment-211333</guid>
		<description>Charlie looking forward to seeing &amp; hear you in future efforts ... I feel bad if this was a straw .. sorry :-&#124;</description>
		<content:encoded><![CDATA[<p>Charlie looking forward to seeing &amp; hear you in future efforts &#8230; I feel bad if this was a straw .. sorry :-|</p>
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		<title>By: Greg0658</title>
		<link>http://www.ritholtz.com/blog/2009/08/the-eternal-economic-seminar/comment-page-1/#comment-211145</link>
		<dc:creator>Greg0658</dc:creator>
		<pubDate>Wed, 02 Sep 2009 12:22:05 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=37088#comment-211145</guid>
		<description>ps - tv tech engineer geeks .. ABC8.1HD had occasional audio stutter issues too .. maybe someone down the block was downloading Insidious Bastards or something</description>
		<content:encoded><![CDATA[<p>ps &#8211; tv tech engineer geeks .. ABC8.1HD had occasional audio stutter issues too .. maybe someone down the block was downloading Insidious Bastards or something</p>
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		<title>By: Greg0658</title>
		<link>http://www.ritholtz.com/blog/2009/08/the-eternal-economic-seminar/comment-page-1/#comment-211143</link>
		<dc:creator>Greg0658</dc:creator>
		<pubDate>Wed, 02 Sep 2009 12:07:54 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=37088#comment-211143</guid>
		<description>Thank you BR ..
on that broadcast I was speaking of .. some more color
via Comcast (standard def service) and my QAM tunered HDtv 32&quot; flat screen ..
I only got that coverage in HD from ABC-QuadCitys .. 
MSNBC in SD has a video amplifier issue (in my neighborhood or beyond) but the audio was favored
CNN got some viewing time too (Keith v Wolfe nuf said)

the pooled site feed was dark at that moment ... surfers may have wondered - &quot;whats this channel got going on with it&quot; .. so another reason for spit

(but hey no ad revenue was coming in anyway) (oh - Wolfe deserves a job in tv too)
previous line is what its all about .. providing services that need to be done that not enough people will pay for .. and who deserves the job to do it</description>
		<content:encoded><![CDATA[<p>Thank you BR ..<br />
on that broadcast I was speaking of .. some more color<br />
via Comcast (standard def service) and my QAM tunered HDtv 32&#8243; flat screen ..<br />
I only got that coverage in HD from ABC-QuadCitys ..<br />
MSNBC in SD has a video amplifier issue (in my neighborhood or beyond) but the audio was favored<br />
CNN got some viewing time too (Keith v Wolfe nuf said)</p>
<p>the pooled site feed was dark at that moment &#8230; surfers may have wondered &#8211; &#8220;whats this channel got going on with it&#8221; .. so another reason for spit</p>
<p>(but hey no ad revenue was coming in anyway) (oh &#8211; Wolfe deserves a job in tv too)<br />
previous line is what its all about .. providing services that need to be done that not enough people will pay for .. and who deserves the job to do it</p>
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		<title>By: Greg0658</title>
		<link>http://www.ritholtz.com/blog/2009/08/the-eternal-economic-seminar/comment-page-1/#comment-210808</link>
		<dc:creator>Greg0658</dc:creator>
		<pubDate>Tue, 01 Sep 2009 13:56:54 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=37088#comment-210808</guid>
		<description>lets try a fresh type-in from this stage .. the absent bad word list escapes me .. what was wrong in the last try (x3)
but without that list the framing is not on words but dialog in general</description>
		<content:encoded><![CDATA[<p>lets try a fresh type-in from this stage .. the absent bad word list escapes me .. what was wrong in the last try (x3)<br />
but without that list the framing is not on words but dialog in general</p>
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		<title>By: Greg0658</title>
		<link>http://www.ritholtz.com/blog/2009/08/the-eternal-economic-seminar/comment-page-1/#comment-210803</link>
		<dc:creator>Greg0658</dc:creator>
		<pubDate>Tue, 01 Sep 2009 13:47:50 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=37088#comment-210803</guid>
		<description>(repost with edits) 
and since this is an open thread .. high5 to who said &quot;whats wrong with so*ism&quot; compaired to fa*ism its 10x better I say

on that Disney merger .. TBTFight comes to mind ... mind control is coming our way (ever so slightly) .. just this morning my mind was being shaped by high end programming that it was a fit made in the sky .. to add boys into the corporate mix with Marvel

and who during the Kennedy burial told (was it Charlie Gibson) to talk over the &quot;Prayers to the Faithful&quot; .. don&#039;t know .. Disney heads, ABC heads, production room heads, or that speaker .. cooling it for posterity .. from his shoes &quot;should I say something - we might be losing audience&quot; spit
_____

and on dragging up and mergers .. I had my own moment .. dads business - I wasn&#039;t the right guy for that office in a dollar cost averaging frame - mom could use the cash instead of the headache ... but was it good for the trade, community, country to absently facilitate a small merger ... financially yes - but thats about as far as it goes</description>
		<content:encoded><![CDATA[<p>(repost with edits)<br />
and since this is an open thread .. high5 to who said &#8220;whats wrong with so*ism&#8221; compaired to fa*ism its 10x better I say</p>
<p>on that Disney merger .. TBTFight comes to mind &#8230; mind control is coming our way (ever so slightly) .. just this morning my mind was being shaped by high end programming that it was a fit made in the sky .. to add boys into the corporate mix with Marvel</p>
<p>and who during the Kennedy burial told (was it Charlie Gibson) to talk over the &#8220;Prayers to the Faithful&#8221; .. don&#8217;t know .. Disney heads, ABC heads, production room heads, or that speaker .. cooling it for posterity .. from his shoes &#8220;should I say something &#8211; we might be losing audience&#8221; spit<br />
_____</p>
<p>and on dragging up and mergers .. I had my own moment .. dads business &#8211; I wasn&#8217;t the right guy for that office in a dollar cost averaging frame &#8211; mom could use the cash instead of the headache &#8230; but was it good for the trade, community, country to absently facilitate a small merger &#8230; financially yes &#8211; but thats about as far as it goes</p>
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		<title>By: Greg0658</title>
		<link>http://www.ritholtz.com/blog/2009/08/the-eternal-economic-seminar/comment-page-1/#comment-210794</link>
		<dc:creator>Greg0658</dc:creator>
		<pubDate>Tue, 01 Sep 2009 13:15:55 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=37088#comment-210794</guid>
		<description>OfTroy .. looking for a quote to direct comments to .. now I see you were quoting from &quot;Farm Policy&quot;: Caroline Baum &quot;yet farmers are destroying cherries when processors could be buying them on the cheap and canning them for food&quot;
Another of hers:
&quot;Policies to manage agricultural production or compensate farmers have been around since the 1850s&quot;

before the jump .. what infuriated me .. Wall Street and (I guess Chicago too) can trade oil to $147 a barrel and thats just the business of markets and cool with our industry ... 

I searched out this story from my local paper .. for more color (white):
&quot;Local dairy producers are getting less than half of what they were one year ago after milk prices started dropping throughout the United States last winter. Some may not survive until the market comes back ... Small family farms have made way for corporate operations and now the current market conditions threaten to devastate the few farmers who remain ... yet, Illinois dairy farmers may actually be in a better position than producers in other states. While Illinois farmers are losing $100 per cow per month, west coast producers are losing $150&quot;

http://www.newstrib.com/articles/news/nci/default.asp?Article=E8C1B62BF1D180DE8FECBAC099CE36FF2D07B996ED3D3243

and to cmAhab &quot;pay themselves mulitmillion $ bonuses shows you their disregard for the American public&quot; no your not seeing TSP (the smaller picture) .. other New Yorkers say to them &quot;get all that you can and spend it out here in our turf&quot; and they dance and hug and eat heartily
________
bottom line we are letting bigger piles of cash take over .. because that is the game we designed for all of us to play</description>
		<content:encoded><![CDATA[<p>OfTroy .. looking for a quote to direct comments to .. now I see you were quoting from &#8220;Farm Policy&#8221;: Caroline Baum &#8220;yet farmers are destroying cherries when processors could be buying them on the cheap and canning them for food&#8221;<br />
Another of hers:<br />
&#8220;Policies to manage agricultural production or compensate farmers have been around since the 1850s&#8221;</p>
<p>before the jump .. what infuriated me .. Wall Street and (I guess Chicago too) can trade oil to $147 a barrel and thats just the business of markets and cool with our industry &#8230; </p>
<p>I searched out this story from my local paper .. for more color (white):<br />
&#8220;Local dairy producers are getting less than half of what they were one year ago after milk prices started dropping throughout the United States last winter. Some may not survive until the market comes back &#8230; Small family farms have made way for corporate operations and now the current market conditions threaten to devastate the few farmers who remain &#8230; yet, Illinois dairy farmers may actually be in a better position than producers in other states. While Illinois farmers are losing $100 per cow per month, west coast producers are losing $150&#8243;</p>
<p><a href="http://www.newstrib.com/articles/news/nci/default.asp?Article=E8C1B62BF1D180DE8FECBAC099CE36FF2D07B996ED3D3243" rel="nofollow">http://www.newstrib.com/articles/news/nci/default.asp?Article=E8C1B62BF1D180DE8FECBAC099CE36FF2D07B996ED3D3243</a></p>
<p>and to cmAhab &#8220;pay themselves mulitmillion $ bonuses shows you their disregard for the American public&#8221; no your not seeing TSP (the smaller picture) .. other New Yorkers say to them &#8220;get all that you can and spend it out here in our turf&#8221; and they dance and hug and eat heartily<br />
________<br />
bottom line we are letting bigger piles of cash take over .. because that is the game we designed for all of us to play</p>
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		<title>By: OkieLawyer</title>
		<link>http://www.ritholtz.com/blog/2009/08/the-eternal-economic-seminar/comment-page-1/#comment-210791</link>
		<dc:creator>OkieLawyer</dc:creator>
		<pubDate>Tue, 01 Sep 2009 12:54:45 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=37088#comment-210791</guid>
		<description>&lt;a href=&quot;http://economistsview.typepad.com/economistsview/2009/08/the-savings-rate-has-recoveredif-you-ignore-the-bottom-99.html&quot; rel=&quot;nofollow&quot;&gt;The Savings Rate is Positive...If You Ignore the Bottom 99%&lt;/a&gt;

&lt;i&gt;If we expand our survey to the top 1% of all households, we find an average income of $1.36 million for 2007. These folks had an average federal tax burden of just under 33%, so their after tax income averaged $916 thousand. If you assume this group had a savings rate of 33%, you get total savings of $452 billion (remember, $171.5 bn of this comes from the top 0.01%, we’re assuming a savings rate of around 25% of after tax income for the “poorer” 99% of the top 1%) This is more than 100% of the personal savings of the entire population, according to the BEA data. It implies that 99% of the US population still has, on average, a negative savings rate of around 1.3%. If you subtract the next nine percent, which likely still has a positive savings rate, the data for the bottom 90% becomes even more depressing, implying a negative savings rate of close to 5%.&lt;/i&gt;

And a link I found from this link:

&lt;a href=&quot;http://curiouscapitalist.blogs.time.com/2009/08/31/how-socialized-health-care-made-norway-an-oil-power/&quot; rel=&quot;nofollow&quot;&gt;How Socialized Medicine Made Norway An Oil Power&lt;/a&gt;

&lt;i&gt;Now Norway surely would have discovered oil even if Al-Kasim had never showed up, and the Norwegians—being Norwegians—would probably have done an okay job of managing their find without his help. But this still seems to be a striking case of what an economist who believes in such things would call path dependence. If Norway didn&#039;t have a such a generous health care system—and if Al-Kasim hadn&#039;t married a Norwegian—the country would have been substantially less well prepared to take advantage of its oil bounty.&lt;/i&gt;</description>
		<content:encoded><![CDATA[<p><a href="http://economistsview.typepad.com/economistsview/2009/08/the-savings-rate-has-recoveredif-you-ignore-the-bottom-99.html" rel="nofollow">The Savings Rate is Positive&#8230;If You Ignore the Bottom 99%</a></p>
<p><i>If we expand our survey to the top 1% of all households, we find an average income of $1.36 million for 2007. These folks had an average federal tax burden of just under 33%, so their after tax income averaged $916 thousand. If you assume this group had a savings rate of 33%, you get total savings of $452 billion (remember, $171.5 bn of this comes from the top 0.01%, we’re assuming a savings rate of around 25% of after tax income for the “poorer” 99% of the top 1%) This is more than 100% of the personal savings of the entire population, according to the BEA data. It implies that 99% of the US population still has, on average, a negative savings rate of around 1.3%. If you subtract the next nine percent, which likely still has a positive savings rate, the data for the bottom 90% becomes even more depressing, implying a negative savings rate of close to 5%.</i></p>
<p>And a link I found from this link:</p>
<p><a href="http://curiouscapitalist.blogs.time.com/2009/08/31/how-socialized-health-care-made-norway-an-oil-power/" rel="nofollow">How Socialized Medicine Made Norway An Oil Power</a></p>
<p><i>Now Norway surely would have discovered oil even if Al-Kasim had never showed up, and the Norwegians—being Norwegians—would probably have done an okay job of managing their find without his help. But this still seems to be a striking case of what an economist who believes in such things would call path dependence. If Norway didn&#8217;t have a such a generous health care system—and if Al-Kasim hadn&#8217;t married a Norwegian—the country would have been substantially less well prepared to take advantage of its oil bounty.</i></p>
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		<title>By: torrie-amos</title>
		<link>http://www.ritholtz.com/blog/2009/08/the-eternal-economic-seminar/comment-page-1/#comment-210790</link>
		<dc:creator>torrie-amos</dc:creator>
		<pubDate>Tue, 01 Sep 2009 12:48:13 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=37088#comment-210790</guid>
		<description>Penney Slots says it all</description>
		<content:encoded><![CDATA[<p>Penney Slots says it all</p>
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		<title>By: Marcus Aurelius</title>
		<link>http://www.ritholtz.com/blog/2009/08/the-eternal-economic-seminar/comment-page-1/#comment-210787</link>
		<dc:creator>Marcus Aurelius</dc:creator>
		<pubDate>Tue, 01 Sep 2009 12:46:19 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=37088#comment-210787</guid>
		<description>wunsacon:

I always thought BR was a patient! I learn something new every day.</description>
		<content:encoded><![CDATA[<p>wunsacon:</p>
<p>I always thought BR was a patient! I learn something new every day.</p>
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		<title>By: Bruce in Tn</title>
		<link>http://www.ritholtz.com/blog/2009/08/the-eternal-economic-seminar/comment-page-1/#comment-210780</link>
		<dc:creator>Bruce in Tn</dc:creator>
		<pubDate>Tue, 01 Sep 2009 11:12:50 +0000</pubDate>
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		<description>http://online.wsj.com/article/SB125177344884874971.html?mod=rss_US_News

Cities Brace for a Prolonged Bout of Declining Tax Revenues 

Overall city revenues declined by 0.4%, even as expenses rose 2.5%, and city officials expect steep drops in tax collections in the next two years, making for the worst outlook in the 24 years the group has been surveying its members. Western cities were particularly downbeat.

The gloomy mood &quot;is indicative of the depths of the downturn, that they have the worst ahead of them, and the fact that the recession is universally hitting their revenue sources,&quot; said Chris Hoene, research director for the league.

Because employee wages, health care and pensions are a major component of municipal budgets, two-thirds of the cities reported hiring freezes or layoffs. Almost as many cities said they were postponing big construction projects.

....higher fees are coming, they are comin&#039; round the bend, and I ain&#039;t seen the good times since...I don&#039;t know when....

..sorry, Mr. Cash...</description>
		<content:encoded><![CDATA[<p><a href="http://online.wsj.com/article/SB125177344884874971.html?mod=rss_US_News" rel="nofollow">http://online.wsj.com/article/SB125177344884874971.html?mod=rss_US_News</a></p>
<p>Cities Brace for a Prolonged Bout of Declining Tax Revenues </p>
<p>Overall city revenues declined by 0.4%, even as expenses rose 2.5%, and city officials expect steep drops in tax collections in the next two years, making for the worst outlook in the 24 years the group has been surveying its members. Western cities were particularly downbeat.</p>
<p>The gloomy mood &#8220;is indicative of the depths of the downturn, that they have the worst ahead of them, and the fact that the recession is universally hitting their revenue sources,&#8221; said Chris Hoene, research director for the league.</p>
<p>Because employee wages, health care and pensions are a major component of municipal budgets, two-thirds of the cities reported hiring freezes or layoffs. Almost as many cities said they were postponing big construction projects.</p>
<p>&#8230;.higher fees are coming, they are comin&#8217; round the bend, and I ain&#8217;t seen the good times since&#8230;I don&#8217;t know when&#8230;.</p>
<p>..sorry, Mr. Cash&#8230;</p>
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