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Bozo_Casanova

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Everything posted by Bozo_Casanova

  1. Wordle 1,500 4/6 🟨⬜⬜🟨⬜ 🟩🟩⬜⬜🟩 🟩🟩⬜⬜🟩 🟩🟩🟩🟩🟩
  2. Wordle 1,499 3/6 ⬜⬜🟩⬜🟩 ⬜🟨🟩⬜🟩 🟩🟩🟩🟩🟩
  3. Custer was killed by a woman war chief - Buffalo Calf Road Woman, who had been honored for her bravery in past battles with Custer and wanted revenge after Custer had killed her father and brother. She killed him with a war club, and when went down the women came and stuck needles in his ears so that he wouldn't hear their ancestors coming for him in the afterlife.
  4. I thought that was hilarious for a lot of reasons, the main one being that there were a lot of rumors that she and Chris Martin divorced because he kept cheating on her, including supposedly making out with Kate Bosworth out in the open at a U2 show in Vegas.
  5. True, but the elephant in the living room here is that within the structure of our economy, long term low interest rates have the effect of expanding and accelerating wealth inequality and compressing the middle class in myriad ways unless that effect is explicitly and directly contained by the tax code, which it is not. Populists are wrong in a lot of ways about a lot of things, but this is one of the really big ones.
  6. Wordle 1,498 4/6 🟨⬜⬜⬜⬜ ⬜🟩🟨🟨⬜ 🟨🟩🟨⬜🟨 🟩🟩🟩🟩🟩
  7. Lyn is great. We run in some of the same circles and she’s very impressive.
  8. You’re not sure what the Uvalde County election results from November 2022 say about the premise that “dead kids tend to rile people up?”
  9. What a paragraph. Bravo, seriously.
  10. THAT WORD IS NOT REAL Wordle 1,497 X/6 ⬜🟨🟨⬜🟨 🟨🟩⬜🟩⬜ ⬜🟩⬜🟩⬜ ⬜🟩⬜🟩🟩 ⬜🟩⬜🟩🟩 ⬜🟩🟨🟩🟩
  11. Him and Jim Jordan should be Vincent Adultman for Halloween.
  12. Your hypothetical company is not the Fed.
  13. Im not sure that’s true. We are certainly in a big debt cycle, but a bunch of deflationary signs are beginning to appear that could be significant. And as long as the dollar is the world’s reserve currency we will have less inflation than the rest of the world, just like we did in the transitory spike period. in other words, we have real problems on the horizon. Inflation could be the least of them. We certainly agree on that at least, but the issue here is that the Fed knows that. The political actors who want to control the Fed don’t.
  14. Maturing treasuries and MBS. See my post above re assets. Who are you arguing with? Again I get that you don’t like having a central bank, but you do, and they manage the supply of a fiat currency. They inject liquidity into the economy and then take it out.
  15. Here’s the short version: during the pandemic the Fed purchased a shitload of low- rate treasuries and MBS to stimulate the economy. When the economy recovered there was an inflation spike and rates were raised, which means those assets on the aged balance sheet were marked down, and the value of that markdown was about $1T, recorded as a deferred asset. What that represents is the book value of the securities the Fed owns vs the current market price.
  16. But as it happens, in this moment in history, the global economy revolves around monetary policy set by central banks, and the United States Federal Reserve is the most successful central bank in history. The fact that you believe a counterfactual alternative reality without central banking would be better doesn’t make it less so. No. It was the transfer of tangible goods from overseas and the value of future productivity TO you and me, in exchange for exported and punted debt. And that’s a problem, but we we’re the beneficiaries. Again, plenty of room for criticism here but your understanding of victimhood is backwards. I didn’t- the fed recorded it that way. Try to keep up.
  17. Obviously not, no, because I understand what it is. And to be clear I’m not saying that the recording of unrealized loss as a deferred asset is good but I understood what led to it, and what it means in terms of monetary policy. you don’t seem to understand what the loss is that you are talk about. You’re acting like the “loss” was the result of mismanagement or malfeasance.
  18. You’re not The Texas Hammer from Hornfans? Cheerfully withdrawn, in that case. What does a successful central bank look like to you?
  19. The other issue is a lack of credibility. Long term rates are a function of the sense that the American banking system is independent and neutral to politics. This is political horseshit. While the Fed has always been political, it has also always been independent. That’s not a “Rogue agency” that’s an independent central bank operating in a free market. Well, it managed to keep a fiat currency operating as the world’s value reserve for 50 years, allowing people like you and I to enjoy tax cuts and fairly stable prices over a long period by exporting debt to other countries and getting imported tangible goods in return, so it seems pretty successful to me. If that looks like failure to you, I’m curious what you think a successful central bank looks like. I’m old enough to remember when I was on Hornfans shouting from the rooftops about position of the dollar and the the exploding debt while you were caping for the 2003 Tax cuts and increased structural deficits as far as the eye could see, not to mention the Iraq war. If you really want to do this take it to the Cloak Room. And bring your shine box.
  20. 1) Trust me, you will know when we get there. But by then it will be too late. It might already be. 2) The free press? All they do is bear witness as the light go out. And besides, in a modern autocracy, tolerating a critical press is one of the ways they maintain the fiction of democracy. 3) The court are a jump ball right now, and the autocratics have length advantage. The Dems have a defensive-PG out there. 4) Thank you, but I don’t actually think there are many of us. 5) Finally, this is not about Trump. Trump is a symptom. The AEI (the last traditional conservative think tank published that piece in 2012. Norm Ornstein and other conservative political scientists started ringing alarm bells about this well over a decade ago. I’m far less concerned about Trump than I am about what the office of the President will be capable of without any checks and balances.
  21. You have no idea what rooms I’m in, but I’m pretty sure you watch cable news.
  22. Actually a great example of normal shittiness- Hunter Biden, well connected son of politicians who parleys that into medium sized money, only to get shamed and charge with a crime, brings shame on whole family. The first family- issues a meme coin and other projects to monetize the executive branch and sell favors immediately upon taking office, while simultaneously dismantling non-partisan bureaucracies. This is the South America playbook- to dismantle institutions and make leaders the source of services. You don’t need to make free speech illegal when the lives and fortunes of your subjects are dependent on your favor.
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