tag:blogger.com,1999:blog-16179347.post692577125283117..comments2023-10-02T18:02:52.243+10:00Comments on 3 Word Slogan: US Fed a sub-prime lender?Cartledgehttp://www.blogger.com/profile/11929350278316125588noreply@blogger.comBlogger11125tag:blogger.com,1999:blog-16179347.post-9510676068275715052008-03-20T19:12:00.000+10:002008-03-20T19:12:00.000+10:00I am ambivalent about immigration. The gut feeling...I am ambivalent about immigration. The gut feeling is opposed to the hard border, as history tends to ebb and flow across them regardless. The environmental limitations, the level of population that can be sustained from available resources is a worry.<BR/>The economic argument seems analogous to the women in the workforce argument. We’ll do it when it suits then attack the women or immigrants (Cartledgehttps://www.blogger.com/profile/11929350278316125588noreply@blogger.comtag:blogger.com,1999:blog-16179347.post-42604775338111637922008-03-20T17:35:00.000+10:002008-03-20T17:35:00.000+10:00UpdateThe Reserve bank is still concerned, but th...Update<BR/><BR/>The Reserve bank is still concerned, but this time about Immigration.<BR/><BR/>Immigration is not something we talk about much these days. It has been of huge benefit to Australia but it seems the Reserve Bank is concerned over demand noting an overall net increase of 318,500 in Australia for the year of which 180,000 was in skilled migrant labour.<BR/><BR/>This will keep adding lindsaylobehttps://www.blogger.com/profile/16774918551798647046noreply@blogger.comtag:blogger.com,1999:blog-16179347.post-4072497074169970352008-03-18T14:59:00.000+10:002008-03-18T14:59:00.000+10:00“It’s time for Swan to step up to the pulpit and d...“It’s time for Swan to step up to the pulpit and deliver this message, not an old codgers like me!!” <BR/>Lindsay, I don’t buy the old codger bit, though you could be right about Swan. Actually, until he brings down a budget I suspect Ken Henry and Glenn Stephens should be talking this up. <BR/>Back to the old, I’m finding your insights as valuable as those of Ross Gittins in the SMH, and I argueCartledgehttps://www.blogger.com/profile/11929350278316125588noreply@blogger.comtag:blogger.com,1999:blog-16179347.post-87633454701245361332008-03-18T14:16:00.000+10:002008-03-18T14:16:00.000+10:00Time for some good news on our home front ? The Re...Time for some good news on our home front ? <BR/><BR/>The Reserve Bank of Australia released its minutes to day from its previous meeting and together with other economic news which highlight the following facts: <BR/><BR/>Primary inflation risk remains a risk as higher wages flowing from tight labour markets are likely to aggravate inflation. Outlook for commodity prices is further improving, lindsaylobehttps://www.blogger.com/profile/16774918551798647046noreply@blogger.comtag:blogger.com,1999:blog-16179347.post-15342733407497712972008-03-16T19:03:00.000+10:002008-03-16T19:03:00.000+10:00Lindsay, I saw the Bear Stearns collapse as just m...Lindsay, I saw the Bear Stearns collapse as just more evidence of a major problem looming. <BR/>This is still dealing with the mortgage issue to a great extent, the potential commercial loan mess hasn't started to unfold yet.<BR/>It seems a bit late for the US Fed to start talking about regulating the loan market. Though I guess they have to start sometime.Cartledgehttps://www.blogger.com/profile/11929350278316125588noreply@blogger.comtag:blogger.com,1999:blog-16179347.post-29912440244677394002008-03-16T15:16:00.000+10:002008-03-16T15:16:00.000+10:00There has been an unprecedented movement of wealth...There has been an unprecedented movement of wealth to the top 1% in the US, particularly in the past 10 years. <BR/>The taxation system is skewed towards the wealthy and in my view needs urgent review; disappointedly there is very little debate on this factor at this point in time. <BR/><BR/>In the latest on the sub prime effects I noticed Bear Stearns Cos, a Wall Street banker may have seen itslindsaylobehttps://www.blogger.com/profile/16774918551798647046noreply@blogger.comtag:blogger.com,1999:blog-16179347.post-62323976999732646212008-03-15T12:43:00.000+10:002008-03-15T12:43:00.000+10:00Thanks Tom. It really is getting to the stage when...Thanks Tom. It really is getting to the stage when being sort of right still doesn't help much.Cartledgehttps://www.blogger.com/profile/11929350278316125588noreply@blogger.comtag:blogger.com,1999:blog-16179347.post-68768162787344430522008-03-15T05:29:00.000+10:002008-03-15T05:29:00.000+10:00we are talking more extended periods to the greedy...<EM>we are talking more extended periods to the greedy bastards behind the sub-prime fiasco</EM><BR/><BR/>This and anon's comment says it all. The biggest problem that the US faces is that our economic pyramid is so top heavy that the weight of the capstone is crushing the base. The combined wealth of the top 1% exceeds that of the bottom 90%, and the Fed's latest move is for the benefit of TomCathttps://www.blogger.com/profile/11397335545286040472noreply@blogger.comtag:blogger.com,1999:blog-16179347.post-57453628485820357912008-03-13T02:39:00.000+10:002008-03-13T02:39:00.000+10:00Don’t believe one optimistic word from any public ...Don’t believe one optimistic word from any public figure about the economy or humanity in general. They are all part of the problem. Its like a game of Monopoly. In America, the richest 1% now hold 1/2 OF ALL UNITED STATES WEALTH. Unlike ‘lesser’ estimates, this includes all stocks, bonds, cash, and material assets held by America’s richest 1%. Even that filthy pig Oprah acknowledged that it was Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-16179347.post-87455540609472062322008-03-12T18:16:00.000+10:002008-03-12T18:16:00.000+10:00“The US still has some great Assets, as Sovereign ...“The US still has some great Assets, as Sovereign Funds outside the US are keen to buy.” I don’t doubt that and the pickings should be rich.<BR/>I know I was a little intemperate, but I expect I could go back two years on this blog and find warnings of the looming crisis. It was that far back that concern was being expressed over the Fannie/Freddie links to the mortgage market. There was concernCartledgehttps://www.blogger.com/profile/11929350278316125588noreply@blogger.comtag:blogger.com,1999:blog-16179347.post-90619588227996647162008-03-12T17:49:00.000+10:002008-03-12T17:49:00.000+10:00I agree with the sentiment and the wisdom of your ...I agree with the sentiment and the wisdom of your post.<BR/>However below are a few points for you to also consider in the shorter term.<BR/><BR/>When the crisis was first acknowledged Dr Benn Bernanke moved very quickly to instill confidence in the capital markets, but at the same time was also one of the first to declare cases of fraud and ensure legislation was immediately placed before lindsaylobehttps://www.blogger.com/profile/16774918551798647046noreply@blogger.com