tag:blogger.com,1999:blog-4921988708619968880.post4317727391435942263..comments2024-02-28T22:03:57.237-05:00Comments on The Automatic Earth: January 4 2011: You got me? So who's got you?Ilargihttp://www.blogger.com/profile/09698428009501267664noreply@blogger.comBlogger69125tag:blogger.com,1999:blog-4921988708619968880.post-59910929438576523842011-01-06T22:10:28.970-05:002011-01-06T22:10:28.970-05:00New post up.
Does the Federal Reserve have a d...New post up.<br /><br /><br /><br /><br /><a href="http://theautomaticearth.blogspot.com/2011/01/january-6-2011-does-federal-reserve.html" rel="nofollow"><b>Does the Federal Reserve have a debt ceiling?</b></a><br /><br /><br /><br /><br />.Ilargihttps://www.blogger.com/profile/09698428009501267664noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-22374668153277619892011-01-06T21:31:18.638-05:002011-01-06T21:31:18.638-05:00I don't know who could have expected this solu...I don't know who could have expected this solution to Usanistan's abject failure at self-governance, but there it is.<br /><br /><a href="http://heyokamagazine.com/HEYOKA.12.JohnCleese.htm" rel="nofollow">To the citizens of the United States of America:</a>Phlogiston Água de Beberhttps://www.blogger.com/profile/16269917130349144430noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-9286354510715197722011-01-06T21:06:16.290-05:002011-01-06T21:06:16.290-05:00One of the issues that comes up a lot on TAE is wh...One of the issues that comes up a lot on TAE is why so many otherwise intelligent friends and family members simply will not deal with or even acknowledge the Perfect Ponzi or Peak Everything.<br /><br />Carolyn Baker has an insightful post on the subject.<br /><br /><a href="http://carolynbaker.net/2011/01/05/relationships-in-the-long-emergency/" rel="nofollow">Relationships In The Long Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-71156694244656453062011-01-06T18:38:46.727-05:002011-01-06T18:38:46.727-05:00Would it be possible to enact two sequential incre...Would it be possible to enact two sequential increases of the debt-ceiling at the same time? We'll surely find out when it becomes necessary to do so, as the minimal interval for separate extensions would otherwise be at least 24 hours, the debt could have doubled by then.Supergravityhttps://www.blogger.com/profile/16330259051452619245noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-23750379056967969582011-01-06T18:31:57.508-05:002011-01-06T18:31:57.508-05:00@ Nassim
I like to focus on the meaning underlyin...@ Nassim<br /><br />I like to focus on the meaning underlying terms rather than the terms themselves (since people often use different meanings). Lateral thinking (aka thinking outside the box) is a way of coming up with hypotheses that is distinct from normal incremental, sequential <a href="http://en.wikipedia.org/wiki/Vertical_thinking" rel="nofollow">vertical thinking</a>.<br /><br />Lateral A Fall Guyhttps://www.blogger.com/profile/08646030011686964723noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-74447698956894077192011-01-06T17:41:49.942-05:002011-01-06T17:41:49.942-05:00Particular fallacies become apparent in the linear...Particular fallacies become apparent in the linear extrapolations of exponential phenomenon, such as concluding that, given familiar trends, within 300 years all planetary biomass will be human, by linearly extrapolating the 20th century growth of cities and their extractive and denaturating powers at previous exponential velocities of expansion.<br /><br />Is the interval between the heighteningSupergravityhttps://www.blogger.com/profile/16330259051452619245noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-17346551748615771042011-01-06T16:44:29.895-05:002011-01-06T16:44:29.895-05:00A Fall Guy,
I always thought that linear thinking...A Fall Guy,<br /><br />I always thought that linear thinking was the ordinary, regular, standard way of thinking and that its converse was <a href="http://en.wikipedia.org/wiki/Lateral_thinking" rel="nofollow">lateral thinking</a><br /><br />Edward de Bono himself says that you can only do lateral thinking occasionally as almost all thinking is of the linear/vertical variety. BTW, I went to a Nassimhttps://www.blogger.com/profile/18014132282872515690noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-79678960664877951752011-01-06T16:21:05.613-05:002011-01-06T16:21:05.613-05:00Dan and I.M.N. - Thanks for the proper responses.
...Dan and I.M.N. - Thanks for the proper responses.<br />I don't have or hold gold and I too read Black elk many moons ago. He was right IMO, about many things, and about the Wasichu's penchant for the shiney metal, worthless in the sense of living in resonance with the natural world.<br />But today, if the Black Swan event occurs I think a bag of 90% silver might come in real handy! :-)<brHombrehttps://www.blogger.com/profile/12930734368916487826noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-10958700540460785662011-01-06T16:13:25.917-05:002011-01-06T16:13:25.917-05:00Wombat Crossing,
I don't what I&S might d...Wombat Crossing,<br /><br />I don't what I&S might do, but this opinionated old bastard loves to ponder. So, hang on for a wild ride.<br /><br />If Usanistan loses the authority to spend and borrow, for any period beyond a few days, I think something like this becomes imaginable.<br /><br />Most state and local government offices and facilities will either close or seriously reduce Phlogiston Água de Beberhttps://www.blogger.com/profile/16269917130349144430noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-46888223786394710172011-01-06T15:32:01.055-05:002011-01-06T15:32:01.055-05:00"... incomes rise much faster than home price..."... incomes rise much faster than home prices and real interest rates creep up to normal historical levels, such that eventually housing affordability gets back to sustainable levels and people can pay down their debts." <br /><br />Pray tell ... how fast ... how high ... without hyperinflation which destroys more than what it creates.<br /><br />While you are at it from what REAL jalhttps://www.blogger.com/profile/16969819389823705458noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-22472654868282819032011-01-06T15:25:45.597-05:002011-01-06T15:25:45.597-05:00Metanis contends that we are all linear thinkers. ...Metanis contends that we are all linear thinkers. I agree, but not for the same reasons.<br /><br />Metanis said this in a pejorative manner as a critique of TAE regulars. But he doesn't describe what he means.<br /><br />Linear thinking is pretty much synonymous with <a href="http://history-and-education.blogspot.com/2007/02/what-is-linear-thinking-lament-on.html" rel="nofollow"> logical A Fall Guyhttps://www.blogger.com/profile/08646030011686964723noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-52149217142079987042011-01-06T15:22:06.443-05:002011-01-06T15:22:06.443-05:00Re Joe Bageant
What a huge potential loss to the ...Re Joe Bageant<br /><br />What a huge potential loss to the planet.<br /><br />P.S.<br /><br />My Mac died and I am down to an iTouch and virtual lurker status. Hope to get Deep Thought back from the morgue revivified soon.el gallinazohttps://www.blogger.com/profile/00642036843036726232noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-9927334905429296062011-01-06T15:14:59.999-05:002011-01-06T15:14:59.999-05:00Hombre,
Both Big Dogs and little dogs are suscept...Hombre,<br /><br />Both Big Dogs and little dogs are susceptible to knowing things that just ain't so. (genuflect to Will Rogers)<br /><br />Humans have quite often managed their affairs without PM's. Not having them seems always to cause the most trouble for peoples that just know they must have them.<br /><br />Black Elk told John Neihardt this about the Lakota attitude toward gold. We Phlogiston Água de Beberhttps://www.blogger.com/profile/16269917130349144430noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-45639123413232649022011-01-06T14:41:09.616-05:002011-01-06T14:41:09.616-05:00Salon.com has an interesting discusion with conser...Salon.com has an interesting discusion with conservative historian Bruce Bartlett about the consequences to the USA and financial markets if the tea party convinces congress to not raise the debt ceiling.<br /><br /><a href="http://www.salon.com/news/debt_ceiling/index.html?story=/tech/htww/2011/01/05/bruce_bartlett_on_tea_party_monumental_insanity" rel="nofollow">How the World Works</a><br /><brAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-53454756275809071112011-01-06T14:28:00.855-05:002011-01-06T14:28:00.855-05:00@ agtefc
What you take from my links, or anybody ...@ agtefc<br /><br />What you take from my links, or anybody else's is up to you. I was merely warning that I could be capable of providing a lot of links and that many of the videos are likely to be of extended length. They could take up a lot of your time.<br /><br />Here are a couple more for the board to factor into what sort of "woes" we have and what underlies them.<br /><br />Phlogiston Água de Beberhttps://www.blogger.com/profile/16269917130349144430noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-53091321710399380172011-01-06T14:26:00.221-05:002011-01-06T14:26:00.221-05:00@ Hombre
I think what the commentator meant about...@ Hombre<br /><br />I think what the commentator meant about the gold standard is NOT that folks necessarily think that we're still on one, but that we make fiscal and monetary decisions that employ old patterns of thinking. I guess a reasonable analogy would be people who think about computing in terms of DOS, when in fact Windows 7 makes DOS a non-issue. There is no Dos Shell anymore (so toDanhttps://www.blogger.com/profile/02629934080871994373noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-33041679455240742002011-01-06T14:14:17.594-05:002011-01-06T14:14:17.594-05:00Ilargi said: "…if we can't trust mortgage...Ilargi said: "…if we can't trust mortgage brokers to speak the truth and nothing but the truth anymore, frankly, is life really worth living?"<br /><br />You must always judge the validity of any message by first understanding the vested interests of the messenger. <br /><br />The last thing the FIRE sector (mortgage brokers included) want to say is they expect housing prices to TMOhttps://www.blogger.com/profile/15375010615170082192noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-57661436625874461852011-01-06T13:56:29.860-05:002011-01-06T13:56:29.860-05:00@ Board
Concerning the "doomster" title...@ Board<br /><br />Concerning the "doomster" title.<br />I concur with most. Optimism in the face of contrary evidence is nothing short of denial. <br /><br />Being a doomster and being compassionate, morally upholding, and truth enlightened are not mutually exclusive. <br /><br />It is also important to note that TAE does not have a conflict of interest with their views, where as mostAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-31167255877757849432011-01-06T13:54:42.392-05:002011-01-06T13:54:42.392-05:00Alexander Ac,
Personally I think Mish has jumped ...Alexander Ac,<br /><br />Personally I think Mish has jumped the shark. He's putting too much energy into his anti-union screeds, and he's not really up on what he's pontificating about.<br /><br />Also to the best of my recollection he hasn't said a peep about fraudclosure except to say (correctly IMO) that eventually the foreclosures will happen. He's completely ignoring the Frankhttps://www.blogger.com/profile/11752307987743035281noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-56167567269121253112011-01-06T13:51:55.167-05:002011-01-06T13:51:55.167-05:00Ilargi - The post states...
"...Canada.com ne...Ilargi - The post states...<br />"...Canada.com network (Real Estate sales section) now has proof you're wrong..."<br /><br />Proof!? Proof? Because a network says it is so? Right! :-)<br /><br />I do HOPE my Canadian friends enjoy an increase in the value of their homes (U2 StoneLady) but I can't prove it--whether I saw it on Mad Max's or Fox News!Hombrehttps://www.blogger.com/profile/12930734368916487826noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-3360092569634640012011-01-06T13:46:05.610-05:002011-01-06T13:46:05.610-05:00Dan - One point was made during the presentation a...Dan - One point was made during the presentation about the gold standard and gold in general which I would have had a difference with.<br /><br />"Everybody thinks we're still on the gold standard, we're not, but everyone still believes it. It's not applicable!"<br /><br />No, we don't believe it, and we know the currency is not based on it. We also read history books, Hombrehttps://www.blogger.com/profile/12930734368916487826noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-36029015938354027592011-01-06T13:42:47.897-05:002011-01-06T13:42:47.897-05:00@ IMN
Agreed, which of course makes Post-Keynesia...@ IMN<br /><br />Agreed, which of course makes Post-Keynesianism and Neo-Chartalism and MMT all susceptible to the primitive and most powerful of mind states, AVARICE.Danhttps://www.blogger.com/profile/02629934080871994373noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-88387958344901516682011-01-06T13:13:08.944-05:002011-01-06T13:13:08.944-05:00@ Dan
I suspect Karl and "Tyler" see le...@ Dan<br /><br />I suspect Karl and "Tyler" see letting the "can" come to rest as desirable because they're doing OK and don't expect pain themselves if it does. Karl is completely wrong about the bezzle. Remember our brilliant co-editor's remark about corruption being the system? (Stoneleigh, I'll never forget that morning) Nothing is going to stop the bezzle.Phlogiston Água de Beberhttps://www.blogger.com/profile/16269917130349144430noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-82740674750030070622011-01-06T12:53:36.475-05:002011-01-06T12:53:36.475-05:00@ IMN
One more observation...
I agree with your ...@ IMN<br /><br />One more observation...<br /><br />I agree with your "point":<br /><br />"...That wouldn't fix all our "woes", but it might keep a lot more people in their houses awhile longer with food on the table and heat in the furnace..."<br /><br />People like Denninger and "Tyler Durden" (aka ZH) call this 'kicking the can', and they areDanhttps://www.blogger.com/profile/02629934080871994373noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-89533160000768279492011-01-06T12:50:13.883-05:002011-01-06T12:50:13.883-05:00@ IMN
My interpretation of the MMT/Post-Keynesian...@ IMN<br /><br />My interpretation of the MMT/Post-Keynesian ideal is that they want "us" to make political (and thus fiscal) decisions based upon the operational truths of a fiat currency system. OPERATIONALLY---from a purely accounting-based standpoint---the government COULD add many MORE ones and zeroes to reserve accounts at both the FED and at member banks, thus (in theory) Danhttps://www.blogger.com/profile/02629934080871994373noreply@blogger.com