The Goat Pen

The video is new. I'm guessing it's from Davos.

I think he is looking at it through the lens of an asset manager. I took it as him saying that populism, and its impact on government policy, is changing to a nationalistic bent that could lead to fascism. He seems to look at the heavy hand of monetary policy (and what - in 2009 - he called a "beautiful" handling of the US govt's glidepath out of recession) as the opposite of populism. He doesn't think central banks and monetary policy will play as large of a role going forward, and politics will. That is fully a nod towards Trump and his statements (and his inauguration speech). We've always had a redistribution of wealth in this country since the beginning of the 20th century. Our whole tax structure was set up for that purpose. I think that's why he's saying this is bigger than the (Buffet and Gates led) conversation about wage gaps.

So, while you are looking at government intervention in the auto industry and expansion of health care (which had two separate motivations, IMO)...I think Uncle Ray is shrugging those off those as conventional populism-type responses (in the face of specific economic challenges) and speaking more to macro economic trends on how the world will work going forward.

I think his statements point to a concern about Trump, Le Pen and the upcoming German elections...and also how his firm will digest macro trends when they make their bets on the global markets.

To summarize, shit cost too much.

The rent is too damn high...

Heh...actually, maybe I should boil it down better.

1. It is a current vid
2. Ray was definitely making a statement about Trump and the current global political climate
3. He doesn't view ACA and the automotive bailout of GM as indicative of America being in a populist mode
4. He views this populist fervor that hit its height in 2016 as something that is tilting towards nationalism...and there is a legitimate threat of Fascism (if history is an indication)
5. He will figure out a way to make money off this view of where the world is going

There's always a threat of fascism wherever ignorance is involved. And when people equate patriotism to singing goofy national songs and wearing red, white and blue.

I can't figure out (except for the ignorance thing) why people continue to gripe about the economy and blame the gov't when there are clear figures pointing out the increasing revenues of top corporations and the lack of a corresponding wage increase for American workers. People, the gov't is only your enemy because it's a tool of megacorporations, who are the real enemy. Now, if Trump is going to, ironically, I might add, take aim at these megacorporations and force them invest back in American people, while at the same time keeping markets in line, that would be awesome. But it would also be a lot of gov't interference that I don't see him doing.

I do see Trump trying to make deals by offering dereg and trying to get corporations to give back better wages, benefits, etc. I just think that is a short-sighted solution to the problem of rampant inflation, which is what we have here. Shit cost too damn much.

interesting read

the story is about a woman thanking a judge for forcing her to have a brain tumor removed that was affecting her ability to think rationally.

she did not want to have the surgery. In this case it turned out the best possible scenario. But what if she had died during the surgery?

http://www.independent.ie/irish-news/co ... 90996.html

'"I just think that is a short-sighted solution to the problem of rampant inflation, which is what we have here. Shit cost too damn much."

If wages go up, inflation won't be as big a problem...

Depends on the rate of the increase in inflation...and how increased wages impact it.

[youtube]OM7B56xok9M[/youtube]

Saint wrote:
I do see Trump trying to make deals by offering dereg and trying to get corporations to give back better wages, benefits, etc. I just think that is a short-sighted solution to the problem of rampant inflation, which is what we have here. Shit cost too damn much.

Am all for corporations doing right by their workers, but there's no inflation problem, certainly not rampant. 2% is the ideal inflation rate, and we're sitting at 2.1.

Agreed...except (up until 5 years ago) median wages had stagnated. So, even modest inflation is problematic. We'll see if that trend in the upward movement of median income continues under this administration.

"Bikers for Trump...I'm guessing those aren't exercise bikes"

bluetick wrote:

Saint wrote:
I do see Trump trying to make deals by offering dereg and trying to get corporations to give back better wages, benefits, etc. I just think that is a short-sighted solution to the problem of rampant inflation, which is what we have here. Shit cost too damn much.

Am all for corporations doing right by their workers, but there's no inflation problem, certainly not rampant. 2% is the ideal inflation rate, and we're sitting at 2.1.

Not sure how that is calculated or if inflation is the correct term but looking at how much the cost of goods and services has increased vs. the wage rate in the US and what percentage of a paycheck goes towards those things.

http://www.politico.com/magazine/story/ ... try-214647

Sievwright said. “It’ll be turmoil for four years. He’s like a firecracker in a keg of dynamite.”

Why, then, I wondered, did he vote for him?

He put down his brandy in a plastic cup and looked at me.

“Why not?” he said flatly. “Let it blow.”

As good a reason as any...

sardis wrote:http://www.politico.com/magazine/story/ ... try-214647

Sievwright said. “It’ll be turmoil for four years. He’s like a firecracker in a keg of dynamite.”

Why, then, I wondered, did he vote for him?

He put down his brandy in a plastic cup and looked at me.

“Why not?” he said flatly. “Let it blow.”

that's a great read.

the common theme from those people "“It was just hard to believe that decent people could vote for that man.”"

and that's precisely the elitist bullshit they're tired of and voted against. Its a shame that non of them learned a damn thing from their self reflection.

The problem is that the "let it blow" he is thinking is a total disruption to the status quo. The way it's looking, Sievwright will get plenty of diversions, headline generating bluster and alternate facts, but the gap between himself and those that are rich will widen. Also that healthcare he needed for his PTSD (or opioid addiction) will be gone. But the status quo will continue on.

Meanwhile whole counties in Eastern Pennsylvania will keep hoping for that $30/hr manufacturing job to come back or for spots to open up on the local fracking line (earthquakes be damned)...all the while BNYM or some other place are looking for software developers and can't fill them unless they grab Rajeev who went to Duquesne grad school after he left Kolkata.

Short-sighted, wishing on a star asses. Good luck with that.

Bklyn wrote:The problem is that the "let it blow" he is thinking is a total disruption to the status quo. The way it's looking, Sievwright will get plenty of diversions, headline generating bluster and alternate facts, but the gap between himself and those that are rich will widen. Also that healthcare he needed for his PTSD (or opioid addiction) will be gone. But the status quo will continue on.

Meanwhile whole counties in Eastern Pennsylvania will keep hoping for that $30/hr manufacturing job to come back or for spots to open up on the local fracking line (earthquakes be damned)...all the while BNYM or some other place are looking for software developers and can't fill them unless they grab Rajeev who went to Duquesne grad school after he left Kolkata.

Short-sighted, wishing on a star asses. Good luck with that.

that isn't the whole picture. You guys still don't get it. You dismiss them too easily

Earthquakes? You want people who've survived a hundred years of mining accidents worry about the occasional earthquake? While we in our white collar bubble have it so nice that the only thing we have to worry about is our stock portfolio and whether the earths temperature will increase 1 degree Celsius, these folks are scrambling to make a decent life for their families and communities. They are forced to put up with our spoiled whiney asses worrying about stupid shit.

U.S. President Donald Trump is expected to sign several executive orders on Wednesday restricting immigration from Syria and six other Middle Eastern or African countries, according to several congressional aides and immigration experts briefed on the matter.

In addition to Syria, Trump's orders are expected to temporarily restrict access to the United States for most refugees. Another order will block visas from being issued to Iraq, Iran, Libya, Somalia, Sudan and Yemen, said the aides and experts, who asked not to be identified.

Trump's restrictions on refugees are likely to include a multi-month ban on admissions from all countries until the State Department and the Department of Homeland Security can increase the intensity of the vetting process.

The Republican president was expected to sign the orders at the Washington headquarters of the Department of Homeland Security, whose responsibilities include immigration and border security.

On the campaign trail, Trump initially proposed a temporary ban on Muslims entering the United States to protect Americans from jihadist attacks. Many Trump supporters decried Democratic President Barack Obama's decision to increase the number of Syrian refugees admitted to the United States over fears that those fleeing the country's civil war would carry out attacks.

Both Trump and his nominee for attorney general, U.S. Senator Jeff Sessions, have since said they would focus the restrictions on countries whose emigres could pose a threat rather than placing a ban on people who follow a specific religion.

To block entry from the designated countries, Trump is likely to instruct the U.S. State Department to stop issuing visas to people from those nations, according to sources familiar with the visa process. He could also instruct U.S. Customs and Border Protection to stop any current visa holders from those countries from entering the United States.

White House spokesman Sean Spicer said on Tuesday that the State and Homeland Security departments would work on the vetting process once Trump's nominee to head the State Department, Rex Tillerson, is installed.

Other measures may include directing all agencies to finish work on a biometric identification system for non-citizens entering and exiting the United States and a crackdown on immigrants fraudulently receiving government benefits, according to the congressional aides and immigration experts.