tag:blogger.com,1999:blog-6399730406480392183.post6734714853534658957..comments2024-03-27T11:18:34.222-03:00Comments on Viable Opposition: First Half of Fiscal 2012 - How Is Washington Doing?A Political Junkiehttp://www.blogger.com/profile/03342345936277964422noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-6399730406480392183.post-18474199080402383222012-05-29T09:06:48.150-03:002012-05-29T09:06:48.150-03:00I certainly have to agreee with BrokenWatchMaker i...I certainly have to agreee with BrokenWatchMaker in that blaiming the current administration for this situation we are in is pointless and counterproductive if your aim is to fix anything. Austerity in March of 2009 would have been a disaster and the defeat Obama at all cost Congress is making real job growth very difficult if not impossible. The only thing that stopped a stock market crash was the quote "No major financial institutions will be allowed to fail" 03/2009. From that point recovery was possible but political compromise was not.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6399730406480392183.post-11353269074512045442012-04-13T11:44:02.676-03:002012-04-13T11:44:02.676-03:00Blaming low bond yields on Bernanke is thoroughly ...Blaming low bond yields on Bernanke is thoroughly misleading, though. If you look at the impact of QE on bond yields, you can see that, when the Fed starts a program of asset purchases, interest rates on debt actually increase - presumably because markets expect some positive growth effect from this policy, and hence an earlier return of more normal debt conditions. Noting that the government debt growth rate is rising is also misleading considering that recent high deficits have been a result of a massive financial crisis and extremely unorthodox economic conditions, rather than as some kind of long-term trend (though such a trend exists, it is the consequence of demographic problems and rising entitlement spending, which is hardly the result of the current administration's fiscal profligacy).<br /><br />My main problem with a data avalanche like this is that it does nothing to evaluate the alternatives; short-term fiscal expansion is arguably necessary to prevent serious long-term damage to the economy - it might be the lesser of a number of evils.BrokenWatchmakernoreply@blogger.comtag:blogger.com,1999:blog-6399730406480392183.post-77272488605330959772012-04-12T21:32:26.250-03:002012-04-12T21:32:26.250-03:00One of the best blogs on economics and financial m...One of the best blogs on economics and financial markets. Keep up the great work.Rod Simmons, BSc.https://www.blogger.com/profile/03147940316608748906noreply@blogger.comtag:blogger.com,1999:blog-6399730406480392183.post-17053787401089358312012-04-10T20:02:35.203-03:002012-04-10T20:02:35.203-03:00Thank you. After the sh$t kicking that I took fro...Thank you. After the sh$t kicking that I took from a major economic blogger this weekend, your comments are like a breath of fresh air (by the way, I deleted his comment moments after it was posted since I found it both humiliating and embarrassing).<br /><br />That's one thing about blogging - you have to develop a thick skin! It's comments like yours that keep me going on this job that pays nothing!A Political Junkiehttps://www.blogger.com/profile/03342345936277964422noreply@blogger.comtag:blogger.com,1999:blog-6399730406480392183.post-74002876413754376682012-04-10T19:44:38.606-03:002012-04-10T19:44:38.606-03:00I guess that I thought it was rather self-explanat...I guess that I thought it was rather self-explanatory. Perhaps you are confused about my use of the employment statistics - my intention was to show that the 21.8 percent drop in unemployment benefits on a year-over-year basis is due to the fact that there are more long-term unemployed; these folks should already be off the dole rolls. The fact that continuing claims are still at elevated levels will make it very difficult for Washington to keep its fiscal picture in order when the next recession arrives as it surely will.<br /><br />As I've said before, the only thing saving Washington's bacon is ultra-low interest rates. If interest rates rose to the norms of the last decade, the interest owing on the debt would make it nearly impossible to reduce the annual deficit.A Political Junkiehttps://www.blogger.com/profile/03342345936277964422noreply@blogger.comtag:blogger.com,1999:blog-6399730406480392183.post-988611334946911332012-04-10T16:35:09.194-03:002012-04-10T16:35:09.194-03:00'Here's a bunch of data. Feel free to draw...'Here's a bunch of data. Feel free to draw erroneous conclusions.'<br /><br />It would be helpful if there was some explanation as to why these particular statistics are especially relevant (and why the various mitigating factors which should be considered apparently aren't important).BrokenWatchmakernoreply@blogger.comtag:blogger.com,1999:blog-6399730406480392183.post-46892922767346086962012-04-10T16:05:06.985-03:002012-04-10T16:05:06.985-03:00Excellent presentation. Thanks for the crisp, art...Excellent presentation. Thanks for the crisp, articulate facts. You should syndicate this daily to a thousand local newspapers. Most Americans don't have this information.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6399730406480392183.post-50827683801972984772012-04-10T14:50:10.727-03:002012-04-10T14:50:10.727-03:00I will see if I can find some information. It'...I will see if I can find some information. It's an interesting idea.<br /><br />Thanks for reading.A Political Junkiehttps://www.blogger.com/profile/03342345936277964422noreply@blogger.comtag:blogger.com,1999:blog-6399730406480392183.post-42147233052339954952012-04-10T10:19:31.822-03:002012-04-10T10:19:31.822-03:00Hey, I really like your thoughts on North American...Hey, I really like your thoughts on North American economics and global trends. I was wondering, would you mind doing a post on "student loan" debt in the United States? It's past or about to pass the one trillion dollar mark. <br />I want to know what you think of it.Anonymousnoreply@blogger.com