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tpc
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| 10/03/2008 8:05 AM |
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[quote]Frankly California can use this harsh dose of reality, so we're finally forced to get back to sound fiscal principles.[/quote]
Jak-The republican TERMINATOR had all of the answers so we replace grey davis, who has an mba from harvard, with a body builder and grade d movie actor with a high school education with a high school education from austria. His mantra that prepared him for the job-FIRST VE ADIT DA BOOKS. Arnold, the bodybuilder, is going to decipher where we spend too much money by auditing the books??? VE SPENT TO MUCH MONEY FOR DA CHALK AND ERASERS IN DA SCHOOLS. CA sure has been able to live up to its reputation as LA LA land. |
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airplanedad
Posts:131
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| 10/03/2008 8:10 AM |
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Posted By wilson on 10/02/2008 8:50 PM
Econ 101: it will improve the velocity of money (but I doubt you will understand)
Wilson: do you really think your tool box from econ 101 is enough to fix this mess? It is clear you do not understand. True: the velocity of money can be an important CO-VARIATE -- but be very careful about making sweeping predictions about CAUSE and EFFECT. Velocity of money is NOT the only variable in this mess; some of the variables that have a starring role in this mess are so new that barely a handful of people really understand them. In fact, their creators do not even fully understand them because they were running an uncontrolled financial and social experiment and the results are just now showing up. This is not the stuff of econ 101.
Futhermore, a very, very, very significant variable is psychology. Economists do deal with psychology, but at this point, it is dealt with very primitively. |
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tpc
Posts:498
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| 10/03/2008 8:23 AM |
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| For those of you who don't understand what DA GOVERNATOR is talking about, here is his delimma. Yesterday he had $7B in the bank. Today-he has nothing. NADA. Zero. Couldn't sell CA commercial paper in the market. No buyers. So the question becomes-should DA GOVENATOR send out pay checks, vendor checks, pay electrical bills,etc, etc when there is no money in the account??? |
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tpc
Posts:498
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| 10/03/2008 8:27 AM |
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[quote]Wilson: do you really think your tool box from econ 101 is enough to fix this mess? It is clear you do not understand. True: the velocity of money can be an important CO-VARIATE -- but be very careful about making sweeping predictions about CAUSE and EFFECT. Velocity of money is NOT the only variable in this mess; some of the variables that have a starring role in this mess are so new that barely a handful of people really understand them. In fact, their creators do not even fully understand them because they were running an uncontrolled financial and social experiment and the results are just now showing up. This is not the stuff of econ 101.
Futhermore, a very, very, very significant variable is psychology. Economists do deal with psychology, but at this point, it is dealt with very primitively.[/quote]
Propeller head-the rennesainse (sp) man. Part economist, part psychiatrist, part anthropologist, part theologian, part time attorney, pseudo real estate counselor. Man-you have it all. |
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airplanedad
Posts:131
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| 10/03/2008 8:31 AM |
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Posted By tpc on 10/03/2008 8:27 AM
[quote]Wilson: do you really think your tool box from econ 101 is enough to fix this mess? It is clear you do not understand. True: the velocity of money can be an important CO-VARIATE -- but be very careful about making sweeping predictions about CAUSE and EFFECT. Velocity of money is NOT the only variable in this mess; some of the variables that have a starring role in this mess are so new that barely a handful of people really understand them. In fact, their creators do not even fully understand them because they were running an uncontrolled financial and social experiment and the results are just now showing up. This is not the stuff of econ 101.
Futhermore, a very, very, very significant variable is psychology. Economists do deal with psychology, but at this point, it is dealt with very primitively.[/quote]
Propeller head-the rennesainse (sp) man. Part economist, part psychiatrist, part anthropologist, part theologian, part time attorney, pseudo real estate counselor. Man-you have it all.
you have no idea! |
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airplanedad
Posts:131
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| 10/03/2008 8:32 AM |
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| I'm good-looking, too! |
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ilivehere
Posts:128
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| 10/03/2008 8:56 AM |
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Could be off topic, but who cares-
Why is it that when oil was $90 in the last year, gas was $2.50. Oil is now hovering around $95 and gas is $3.50.
If the banks are so afraid of lending money how in the world is Wells Fargo buying Wachovia? Why are we bailing out the banks if they are still spending. I believe Wells Fargo should not get a dime along with B of A and along with all the others.
We will bail the banks out and not one of us will see any benefit. If we bail them out then anyone in any position that should of had knowledge of this trainwreck should lose their job. |
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tpc
Posts:498
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| 10/03/2008 9:39 AM |
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[quote]We will bail the banks out and not one of us will see any benefit[/quote]
i-wrong |
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jpinpb
Posts:1450
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| 10/03/2008 9:40 AM |
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| ilivehere - that's what I was saying. Banks are buying the weaker bank. Heck, monopoly ala Mr. Potter. But we get stuck w/the bill. And the banks will perform magical feats of disapperance. |
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tpc
Posts:498
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| 10/03/2008 9:41 AM |
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[quote]If we bail them out then anyone in any position that should of had knowledge of this trainwreck should lose their job[/quote]
I-good idea. Lets put the GOVERNATOR in charge. Maybe Sarah Palin-she is a quick study. |
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Brian
Posts:2210
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| 10/03/2008 9:48 AM |
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Posted By wilson on 10/02/2008 6:03 PM
duhhhhhhhhhhhhhhh!
When you are ready to buy a car, will a company spring up and make one for you?
Who says that auto credit is tight?
Toyota Pushes Zero Percent Financing
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ilivehere
Posts:128
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| 10/03/2008 1:10 PM |
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To all-
My take on politics, just to clear the air. We need a Boston Tea Party. Maybe if we all didn't pay our taxes just one time the system would get white washed. I pay more in taxes due to my income and where i live. I see no benefits. I pay for most of my health care. I pay for things in school that i never saw my parents pay for(pencils,glue,paper) all things that I would think my taxes and the lottery should be paying for...don't get me started. Back to the post.. WAIT, WHAT IF WE GOT RID OF ALL POLITICAL PARTIES? IT WOULD BE SO NICE JUST TO VOTE FOR SOMEBODY WHO HAS INTELLIGENCE AND HAS A PLAN. NOT SEEING THAT FROM ANYONE AT THIS MOMENT. POLITICAL PARTIES CAUSE PEOPLE TO LOSE THE ABILITY TO THINK FOR THEMSELVES.
Brian-
The availability for credit is there for the consumer not the person that owns the dealership. Those cars sitting on the lot are a depreciating asset that he must get a loan for until he can pay it back when they sell.
By the way, I'm not debating any of you. So I don't care if you think my OPINION is wrong or right. |
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twocents
Posts:78
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| 10/03/2008 3:21 PM |
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| wow, the markets really loved that bailout bill which passed today. |
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ilivehere
Posts:128
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| 10/03/2008 4:33 PM |
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twocents-
i was thinking the same thing. Were puppets on a string, they fake a stock market crash and everyone jumps in line. what a joke.. |
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lurknomore
Posts:270
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| 10/03/2008 4:40 PM |
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| 2 cents--If "the market" really doesn't like the bill, shouldn't that suggest it was NOT primarily a bailout for the benefit of Wall Street? There is no Main Street equivalent to the Dow or the S&P, so maybe we need tro wait a while to see if Main Street (the intended beneficiary) likes it. Hmmm. |
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twocents
Posts:78
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| 10/03/2008 5:17 PM |
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lurk- please please please pick up a book and read it. Short term commercial lending is what covers the float b/c when a biz has to pay its bill and when it gets paid. This lending is not done by a biz walking up and down main street looking for a loan. It's facilitated through financial institutions. These institutions have issued stock. That stock is traded on Wall St. If the future is not perceived to be great, the stock is sold more than it is purchased, which drives the price down. That is what happened today, especially to the stock of financial firms.
And again, I state the issue is uncertainty. If the paulson and bernanke would provide firm guidance on the financial policies they will adopt to 'fix' the problem, and those policies are deemed to be reasonable, the street (wall, main, crack alley for all I care) would respond with enthusiasm whether or not we paid 10K (or whatever the hell this is costing) per US taxpayer. |
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Neobuyer
Posts:23
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| 10/03/2008 6:21 PM |
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Posted By tpc on 10/03/2008 8:23 AM
For those of you who don't understand what DA GOVERNATOR is talking about, here is his delimma. Yesterday he had $7B in the bank. Today-he has nothing. NADA. Zero. Couldn't sell CA commercial paper in the market. No buyers. So the question becomes-should DA GOVENATOR send out pay checks, vendor checks, pay electrical bills,etc, etc when there is no money in the account???
DUHHH! He should do the proper liberal thing and cut checks to welfare recipients so they'll have a down payment for a house in the "new economy."
No money in the bank?...pffft. He can just borrow it. Everyone else does. |
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tpc
Posts:498
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| 10/03/2008 7:11 PM |
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[quote]No money in the bank?...pffft. He can just borrow it. Everyone else does[/quote]
Neo-couldn't borrow it. Isn't that what my post says. CA is a bad credit. |
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PolarBearKing
Posts:161
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| 10/03/2008 8:33 PM |
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Posted By tpc on 10/03/2008 6:00 AM
[quote]If you can't afford a loan, you shouldn't get one. Duh...California is no different[/quote]
Lets put a moratorium on paying the salaries of public employees for 6 months until we are able to sort this thing out. If these public SERVANTS will forgo 6 months of salary, then their sacrifice will be worth it. They can save CA and they can save the USA.
tpc ~The public employees have taken huge hits over thge last five years. My take home pay is less today than it was in '04 - and that is after a promotion. We/I've done my part all while living a frugal exsistance as a public SERVANT. I'm not complaining mind you ( but since you brought it up), just know that I/we didn't get rich selling over inflated real estate and by putting together outragous loan financing packages. What have you and yours done to fix this mess except cry to the Gov't and ask to be bailed out?
Your kind made your mess ~ you should clean it up. Instead of asking the hard working everyday folks to bite the bullit and keep you in your million dollar homes. Repulsive.... |
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Neobuyer
Posts:23
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| 10/03/2008 9:05 PM |
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Posted By tpc on 10/03/2008 7:11 PM
[quote]No money in the bank?...pffft. He can just borrow it. Everyone else does[/quote]
Neo-couldn't borrow it. Isn't that what my post says. CA is a bad credit.
I was being facetious. |
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