tag:blogger.com,1999:blog-4921988708619968880.post8095903100435329680..comments2024-02-28T22:03:57.237-05:00Comments on The Automatic Earth: Debt Rattle, June 2 2008: Ready to DepartIlargihttp://www.blogger.com/profile/09698428009501267664noreply@blogger.comBlogger17125tag:blogger.com,1999:blog-4921988708619968880.post-69834329193447823292008-06-04T16:55:00.000-04:002008-06-04T16:55:00.000-04:00Re: democracyEnded long ago..."As a result of the ...Re: democracy<BR/><BR/>Ended long ago...<BR/><BR/>"As a result of the war, corporations have been enthroned and an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until all wealth is aggregated in a few hands and the Republic is destroyed. I feel at this moment more anxiety than ever Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-73880378888763002022008-06-03T13:43:00.000-04:002008-06-03T13:43:00.000-04:00Also the notion of an "unwanted" house is pretty f...Also the notion of an "unwanted" house is pretty fuzzy.<BR/><BR/>Here in my community houses are regularly torn down, that honest people would love to buy if they could afford them. Sometimes the home owner just won't come down in price fast enough, and the building stays empty long enough that the city steps in. Sometimes the neighborhood doesn't want trailer trash moving in, and puts pressureAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-25749628443374640962008-06-03T09:56:00.000-04:002008-06-03T09:56:00.000-04:00Oh, and the CommonGoodBank guys are having a suppo...Oh, and the CommonGoodBank guys are having a supporter drive - apparently getting to 4,000 people agreeing this is a good idea will give them some mojo in dealing with regulators. I wrote a DailyKos diary about this a few minutes ago.<BR/><BR/>http://www.dailykos.com/story/2008/6/3/91059/71227/852/527990.https://www.blogger.com/profile/03915219261001181341noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-29380302850307870552008-06-03T09:09:00.000-04:002008-06-03T09:09:00.000-04:00Funny you guys should be talking this stuff - I ju...Funny you guys should be talking this stuff - I just dashed off a note to an executive at http://commongoodbank.com - we're setting up a program where customers can put down one third of the $10k - $15k needed for an outdoor wood boiler and they'll finance the rest. The bank isn't chartered yet but the volume of business we'll do, presumably through a leasing operation, will be enough to push .https://www.blogger.com/profile/03915219261001181341noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-53744872678871940362008-06-02T21:37:00.000-04:002008-06-02T21:37:00.000-04:00Agree that riff puts the roof on that house. I thi...Agree that riff puts the roof on that house.<BR/> I think that fits well in how I've thought of what a mortgage should be, an extension of the way barns and other buildings were built in common. Sort of a replacement for loaning your neighbour your work and energy and paid back in kind.<BR/><BR/>That could be viewed as rather commie but I grew up in a rather communal set up, as a Royal CanadianAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-14873051666923597712008-06-02T19:20:00.000-04:002008-06-02T19:20:00.000-04:00Interesting riff on It's a wonderful life. For the...<I>Interesting riff on It's a wonderful life. For the record I didn't say that houses were worthless but that unwanted houses were worthless and worse. </I><BR/><BR/>I know, anon, and I'm not trying to put words in your mouth. You just made me think of these "wonderful" things. I'm not so sure the swindle is all that well understood, even here. <BR/><BR/>George Bailey didn't build "unwanted" Ilargihttps://www.blogger.com/profile/09698428009501267664noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-72542834757907269912008-06-02T18:56:00.000-04:002008-06-02T18:56:00.000-04:00Interesting riff on It's a wonderful life. For the...Interesting riff on <I>It's a wonderful life</I>. For the record I didn't say that houses were worthless but that <I>unwanted</I> houses were worthless and worse. This is because they require attention or become a hazard as tulip bulbs do not. They don't call it toxic debt for nothin'.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-4537723454580727132008-06-02T17:45:00.000-04:002008-06-02T17:45:00.000-04:00GZ, "started to die" then.In a way the timing and ...GZ, "started to die" then.<BR/><BR/>In a way the timing and time spans are personal.<BR/><BR/>Losses like Iraq and Lebanon can be papered over to look like stalemates for quite some time, just like the economy, but the outcome is written on the wall.<BR/><BR/>If one is 20 years old then one can wait a long time. I'm not going to wait another 4 years unless something really drastic gives me hope, VLADhttps://www.blogger.com/profile/07303463697333210934noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-48805957258689069372008-06-02T17:16:00.000-04:002008-06-02T17:16:00.000-04:00Oh Ilargi and Stoneleigh, what sweet report to lea...Oh Ilargi and Stoneleigh, what sweet report to learn that FT gave a nod to TAE!<BR/>For six long months I have suffered the condescending smiles of some FT reading friends and family about my interpretation of financial affairs! <BR/>Immediately I made significant ones aware of the FT accolade. Ah, such a sweet " Schadenfruede" experience.I haven't yet stopped smiling!<BR/>Yes, I know my responsescandiahttps://www.blogger.com/profile/07924260428840006237noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-9468320041892304292008-06-02T17:12:00.000-04:002008-06-02T17:12:00.000-04:00Banks have become casinos. Where once deposits we...Banks have become casinos. Where once deposits were used to finance things that are useful to society, now it just goes to speculation. Once banks were run buy Bailey and now they are run by Potter.Unknownhttps://www.blogger.com/profile/15089309900399973503noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-52169521725883343082008-06-02T17:01:00.000-04:002008-06-02T17:01:00.000-04:00About the values of houses and tulips:Unlike a tul...About the values of houses and tulips:<BR/><BR/>Unlike a tulip, a house has quite a lot of value, when calculated in numbers of construction hours, materials, hours mining and assembling the materials. Plus the less easily added worth of providing shelter, or even human emotional value, i.e. the happiness of raising a family in it. A tulip lacks most, if not all, of this. It’s just pretty- to Ilargihttps://www.blogger.com/profile/09698428009501267664noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-60469512558142546222008-06-02T16:58:00.000-04:002008-06-02T16:58:00.000-04:00I stumbled across a sign of trouble in Canada to-d...I stumbled across a sign of trouble in Canada to-day. I felt like Iowa Boy out and about with sightings from the street, noticing society in action.<BR/>I quit my job at the hospital for reason of job safety in early April. I have been waiting and waiting and waiting for a decision from UIC. I called them to-day and received this scoop," Sorry for the delay. WE HAVE BEEN OVERWHELMED BY scandiahttps://www.blogger.com/profile/07924260428840006237noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-32402059649407695002008-06-02T16:04:00.000-04:002008-06-02T16:04:00.000-04:00Will be?The Republic died some time ago. In fact, ...Will be?<BR/><BR/>The Republic died some time ago. In fact, back in the 1990s, this was a running topic of discussion at <A HREF="http://www.google.com/url?sa=t&ct=res&cd=1&url=http%3A%2F%2Fwww.jerrypournelle.com%2F&ei=FE9ESJuXOYrkiAHz4MiVAw&usg=AFQjCNEHZdt7R-5zdVimHjQkGsbup0y83g&sig2=XBUTTCGSnMEZrrLhKm6yFQ" REL="nofollow">CHAOS MANOR IN PERSPECTIVE</A>, Jerry Pournelle's "blog". The move from Greyzonehttps://www.blogger.com/profile/03675706201111951125noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-69281763052626485302008-06-02T15:28:00.000-04:002008-06-02T15:28:00.000-04:00The point of no return is the coming election.Much...The point of no return is the coming election.<BR/><BR/>Much like KD says the truth has to come out by then.<BR/><BR/>The financial equivalent of scorched earth. If this is not done it will be the end of the Republic regardless of how the election goes.VLADhttps://www.blogger.com/profile/07303463697333210934noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-54368652406109333352008-06-02T15:20:00.000-04:002008-06-02T15:20:00.000-04:00Bringing out the wood! I like it, I like it.Not s...Bringing out the wood! I like it, I like it.<BR/><BR/>Not sure about the PermaBear dollar call.<BR/><BR/><I>At a minimum, the dollar will lose another 40 to 50 percent of its value.</I> <BR/><BR/>Really? If I were still in the game, I would take a punt on the dollar here. The rate differentials have to tighten, as Eurozone slows down, don't they? <BR/><BR/>(of course, as a former equity Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-2559574387666022022008-06-02T13:34:00.000-04:002008-06-02T13:34:00.000-04:00I have read about the Holland Tulip bubble and tho...I have read about the Holland Tulip bubble and thought how stupid people must have been to invest in something with so little actual worth. I never imagined that an unwanted house is as bad or worse than an unwanted tulip bulb but now see it is true. We are no smarter than they were.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-8875973266680544892008-06-02T12:39:00.000-04:002008-06-02T12:39:00.000-04:00Are the ECB's inflation numbers reasonably accurat...Are the ECB's inflation numbers reasonably accurate, or are they comparable to the USA's BLS (Bureau of Lying Statistics)? The USA numbers have inflation and unemployment at about one half their real rates as would have been measured in the 1950's.<BR/><BR/>Germany seems to have been protected (inoculated) through their reunification tax incentive housing boom and but prior to the world bubble Anonymousnoreply@blogger.com