Source: America Is So Not In Decline: Ritholtz

Category: Media, Video

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

7 Responses to “Ritholtz: America Is So Not In Decline”

  1. dryfly says:

    Barry’s right.

    Any other questions?

  2. Yes, of course, yon’ Ritholtz..

    though, in our (ever-increasingly) Command n’ Control ‘Economy’, what you ~dismiss as the “East Coast (NYC y W.D.C.) ‘Middle-Aged’ Mindset” has broad implications.. (no?)

    as, but, one Facet..

    “…The Industrial Control Systems Joint Working Group is a DHS initiative that “is doing fantastic work as a mediator for automation vendors, security vendors and industry experts to collaboratively define best-in-class approaches to security,” says Ahern.

    “They are currently working to build an audit staff and capability to assess the market’s responsiveness to regulatory requirements,” Ahern adds.

    In his job as the SCADAHacker, Langill works very closely with DHS. Although he is “very pleased that the United States has taken steps to elevate the importance of ICS security,” he feels that DHS is underfunded.

    “There is so much more they could do if they had the staff and resources needed,” says Langill. “I would like to see more public/private cooperation in this space, because there are just too many hurdles in place now to bring the necessary resources from the private sector into the core DHS team to help solve this problem.”

    Despite his clear support for DHS, don’t mistake Langill’s support of the department as a call for more government involvement in the security issue via increased regulations.

    “When it comes to security, regulations—though they may improve the baseline security posture of an organization—will not provide adequate defenses from an advanced threat over a typical asset’s lifecycle,” says Langill. “In fact, I believe that regulations can decrease security, because they essentially provide a list of things for people to do or not do, making it very easy for an attacker to know what someone is not doing within their architecture.”
    (See the “ICS Cyber Security: Where to Start” sidebar accompanying this article for more information about the DHS-maintained ICS-CERT Web site).

    The disconnect
    On the bright side, it’s clear that the manufacturing and production industries are waking up to the issue of control system security. The problem is that, though some initial steps are being taken, there is not a lot of other good news to report about control system security for industry as a whole…”
    http://www.automationworld.com/security/stuxnet-effect-cyber-security/page/0/1?utm_medium=trending&utm_source=AW

    v.

    CISPA Bill To Obliterate Privacy Laws Under Guise of Cybersecurity, A Blank Check of Privacy Invasion
    April 26th, 2012

    Via: Hot Hardware:

    There’s a bill currently up for debate in the US House of Representatives that would give companies and government agencies the right to share information when issues of cybersecurity were at stake. If the first thing you thought after reading that was “Wait, don’t we already do this,” the answer is “Yes, we do.” The Cyber Intelligence Sharing and Protection Act (CISPA) is drawing fire for certain provisions that drastically expand the definition of what data can be shared and for the way they handle existing data protections. …”
    http://cryptogon.com/?p=28824
    ~~~

    to say (little) of..

    Obama Regime to Ban Children from Doing Work on Family Farms
    April 25th, 2012

    Via: Daily Caller:

    A proposal from the Obama administration to prevent children from doing farm chores has drawn plenty of criticism from rural-district members of Congress. But now it’s attracting barbs from farm kids themselves.

    The Department of Labor is poised to put the finishing touches on a rule that would apply child-labor laws to children working on family farms, prohibiting them from performing a list of jobs on their own families’ land.

    Under the rules, children under 18 could no longer work “in the storing, marketing and transporting of farm product raw materials.”…”
    http://cryptogon.com/?p=28795

  3. GregGH says:

    Hi

    wow — http://videolicious.com/ …that was way cool …thanks Barry … of course it could be the 2nd bottle of red wine …??

    Greg

  4. NoKidding says:

    I was surprised by the commentary. Lots of long-term negative doomfulness out there.
    Having not read more here, they paint BR as another 100-percent all in all the time buy side fund shill.

  5. 385 comments

    http://finance.yahoo.com/blogs/daily-ticker/america-not-decline-ritholtz-122217030.html?l=1

    finviz.com had picked up that ‘Link’, for its “Newsroll” ..

  6. Britain was the hegemony in the 1920′s and 30′s. Compared to other countries during the depression it did relatively well.
    Its innovators during WW 2 did remarkable work, the wooden Mosquito, radar, the enigma machine deciphering, et. al…. but Britain was nevertheless a hegemony in decline.

    America is the hegemony in 2012. The European Union, Euro, and Euro debt will within days to weeks under go dissolution. The initial transition period will be cataclysmic. The unwinding and reestablishment of sovereign states and individual currencies will take years to reach a bottom equilibrium and for growth to then ensue.

    In this environment the US and US dollar will do relatively very well. With asset price collapse US long term debt by demand alone will reach historical 150 year lows.

    Even without exogenous demand the US can print money and determine any interest rate it wants ultimately offering paper for repayment of US sovereign debt. Dollars will be given to deserving baby boomers who are system entitled to it, money will be given to the health care system for those boomers, and money will be given to the destitute via medicaid … and the multiplier effect on the real economy will tend to keep the whole system going.

    Regarding the very true cyclical aspect of the economy, that is the Big Picture.

  7. Regarding the Big Picture….

    The expected 2019-2020 macroeconomic system’s asset valuation low.

    X/2.5X/2X/1.5-1.6X: The debt-money-asset macroeconomic system’s empirically proven quantum self- assembly fractal time process

    The world’s debt-money-asset macroeconomic system has rules established – by those who have the wherewithal to establish them – which favor the asset derivatives known as equities.

    LSMFT Lower tax means high enrichment …. for the privileged few who make the rules. The money game involving equities with short selling and buying call options et.al also advantage those who make the rules who become wealthier during predictable and preceding leveraged asset overvaluation downturns……

    Within the x/2.5x/2x/1.5x system equation, money flows into equities to extreme time saturation areas.

    Even so, the great composite equity, the Nikkei, whose 40,000 valuation price was so inflated by the late 1980’s real estate credit bubble … has drifted lower in a Lammert quantum manner, now at a 1988 5/12/10 year or 58/129/109 month :: x/2.5x/2x peak saturation area.

    The last 109 months since March 2003 has occurred in 20/50/41 month :: x/2.5x/2x fashion. This Nikkei 5/12/10 year :: x/2.5x/2x peak occurs at the time of negative European GDP growth, European Union dissolution and Euro and Euro debt grand default

    This can be seen very well using quarters –a three month period – as the time fractal unit. From March 2003, a 7/17/14/2 of 10-11 quarterly pattern ::x/2.5x/2x/1.5-1.6x is identified.

    The 10-11 quarter fractal could then form a base for a 20-22 quarter second fractal taking the system to an asset nadir valuation in 29 to 32 quarters or in about 7-8 years 2019-2020 to a debt money Nikkei asset valuation low and completing a 1988 5/12/10/7-8 year :: x/2.5x/2x/1.5-1.6x deteriorating 4 phase growth and decay fractal series.