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Tag Archives: economics

Fed Ending QE Is Not the End of Easy Money (And welcome to “easy oil.”)

The bankers are all sighing with relief. It looks like they weathered yet another fit in the markets.

Is there a “Yellen put” in place? Yes. But more accurately it is a “Federal Reserve put.” It’s been around for quite a while. We don’t have real prices. We don’t have a real market.

Also one thing which is not really discussed often in depth is the degree to which the petrodollar plays into all of this. Oil goes down in price, the dollar typically goes higher (and vice versa,  also oil is priced in dollars on the world market) and lower fuel prices juice the American economy. It may be that fracking, and the oil supply it has created (along with a Saudi Arabia which has turned on the spigots, likely to hammer the economies of Russia and Iran who are both hurt by a Saudi created glut) is actually the most important “monetary” tool right now.

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Why Middle-Class Americans Can’t Afford to Live in Liberal Cities

I was just in San Francisco and prices and rents are INSANE. The city will not allow any new development and as such the hyper-liberal city is home nearly exclusively to the rich.

There are exceptions. There is a huge homeless population. But for those with mailing addresses the cost of living is astronomical. This is common in many “liberal” cities. Why is this?

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Either liberty or the IRS (You can’t have both)

The thing is many people don’t care about liberty. They care about being fed. (As everyone should.) They care about making people “pay their fair share.” (And what is this “fair share”? Seems like a “fair” share would be a lot less than what most taxpayers pay today.) They don’t care about state sanctioned theft. They don’t care because often they are the beneficiaries of that theft.

Before you go thinking that I am targeting people on welfare I will tell you that I am more concerned with corporate and institutional welfare than the run of the mill kind. Much more concerned.

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Bloodbath? CNN: 7 in 10 Americans are angry at the direction the country is headed

I hate that it’s a 0 or 1 binary political situation, Democrat or Republican, Coke/Pepsi, and in some ways it’s not. The Libertarian Party has made huge headway in many places this year just by simply saying and reflecting what people actually believe. The guy in the North Carolina Senate race is awesome.

Below is my sense of the political landscape at this moment. I do not necessarily agree with all of these sentiments but it is where I think the country is right – and I mean right – now.

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Jeb (probably) gets in, The establishment steps up attacks on Rand Paul (They fear him)

The establishment is circling the wagons. They want their defense industry money protected. The Chamber of Commerce wants its corporate welfare protected. The big banks want to make sure their corporate welfare is protected. The establishment GOP consultants who would rather lose and make millions than have a smaller government want their cottage industry protected. House leadership fears a libertarianish president. So does the Senate leadership.

The whole Beltway GOP does not want the party to evolve. (The Dems don’t want the GOP to evolve either.)They would rather it remain a big government party with a slightly different social flavor than the Democrats. (The Dems would prefer this also.)

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Has the government just lit the fuse on another atomic housing explosion/implosion? Probably.

The title of the attached article is, “Can’t Afford a House? Don’t Buy One.”

Seriously, don’t. I say this as someone who owns a house which is a little bit too small for his family and who would love to have people clamoring at my door with offers so I can in turn get a little bit bigger house. But if you can’t afford a house, if you don’t have a down payment, if your income has been wobbly, if you have a pile of student debt, save yourself the trouble and don’t “buy” a house. It’s just not worth it.

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