All Hank, all the time.

[taxwonk]

Originally posted by ironweed
I know what you mean. I have always believed that if my mental discipline had been better I really would have been able to fly after I took all that acid and jumped off the roof of the garage. It was my last minute doubts that sabotaged me.

Isn't the "consumer confidence" number a measure of how likely it is Americans will continue to spend money they don't have? What's the national savings rate these days? Negative two percent or something? My understanding of what's killing the Dow, et al, this week is the fear that unexpectedly high inflation numbers will lead the Fed to raise interest rates again. Which means it will be harder for consumers to borrow money to spend on cheeseburgers, SUVs and videogames. I have vowed not to look at my 401k balances until after the 30th of the month.

The consumer confidence index is based on more than just how consumers feel about the economy in a general sense. It is based on a poll asking five specific questions ceoncerning the respondents' feelings about income and employment prospects as well. If you don't think you're going to get a raise, or you don't think your kid, who is graduating this year, will be able to get a job and go off the tit, then you will have a negative impact on consumer confidence. It is not diirectly tied to whether or not you plan to buy a new Xbox.

Linky

[Southern Patriot]

Originally posted by taxwonk
The consumer confidence index is based on more than just how consumers feel about the economy in a general sense. It is based on a poll asking five specific questions ceoncerning the respondents' feelings about income and employment prospects as well. If you don't think you're going to get a raise, or you don't think your kid, who is graduating this year, will be able to get a job and go off the tit, then you will have a negative impact on consumer confidence. It is not diirectly tied to whether or not you plan to buy a new Xbox.

Linky

Damn you yankees. This is exactly what I explained. Don't you understand anything about raising cotton? It's all about what kind of crop you're going to have.

By the way, in a year with a good crop, I'm going to see my lawyer about squeezing out that sharecropper and taking back my land. Isn't that the kind of thing ya'all do?

[ltl/fb]

Originally posted by Southern Patriot
Damn you yankees. This is exactly what I explained. Don't you understand anything about raising cotton? It's all about what kind of crop you're going to have.

By the way, in a year with a good crop, I'm going to see my lawyer about squeezing out that sharecropper and taking back my land. Isn't that the kind of thing ya'all do?

Is that really how the economics of sharecropping work? I'm thinking no.

[Sexual Harassment Panda]

Originally posted by Southern Patriot
By the way, in a year with a good crop, I'm going to see my lawyer about squeezing out that sharecropper and taking back my land. Isn't that the kind of thing ya'all do?

You've got it exactly backwards. In a good year, you buy more land and hire more sharecroppers. In a bad year, you kick them off the land and let it lie fallow or put that shiftless son-in-law to work tilling and planting.

[Hank Chinaski]

Originally posted by Southern Patriot
Damn you yankees. This is exactly what I explained. Don't you understand anything about raising cotton? It's all about what kind of crop you're going to have.

By the way, in a year with a good crop, I'm going to see my lawyer about squeezing out that sharecropper and taking back my land. Isn't that the kind of thing ya'all do?

I read apretty good southern novel called "Dollar Cotton." It was by Faulkner's brother, John. It went into a bit of detail on the economics- i recommend it as next for spanky's bookclub. BTW- Spanky has been true to his word about being gone.

[Sexual Harassment Panda]

Originally posted by Hank Chinaski
I read apretty good southern novel called "Dollar Cotton." It was by Faulkner's brother, John. It went into a bit of detail on the economics- i recommend it as next for spanky's bookclub. BTW- Spanky has been true to his word about being gone.

Too bad. I was going to ask him if he knew where Brian Bilbray lives. Apparently his potential constituents are wondering, since he is only rarely spotted in Carlsbad.

[baltassoc]

Originally posted by taxwonk
The consumer confidence index is based on more than just how consumers feel about the economy in a general sense. It is based on a poll asking five specific questions ceoncerning the respondents' feelings about income and employment prospects as well. If you don't think you're going to get a raise, or you don't think your kid, who is graduating this year, will be able to get a job and go off the tit, then you will have a negative impact on consumer confidence. It is not diirectly tied to whether or not you plan to buy a new Xbox.

Linky

Okay, now can you explain to me why it's a good thing to cut taxes to inject more capital into the system to spur the economy at the same time the Fed is jacking up interest rates to lower available capital to slow down the economy and prevent inflation?

Isn't the net effect just a transfer of income from the government to the banks (on a macro level - obviously, individuals affected by the tax cut may or may not be the same as those affected by interest rate hikes)?

[taxwonk]

Originally posted by baltassoc
Okay, now can you explain to me why it's a good thing to cut taxes to inject more capital into the system to spur the economy at the same time the Fed is jacking up interest rates to lower available capital to slow down the economy and prevent inflation?

Isn't the net effect just a transfer of income from the government to the banks (on a macro level - obviously, individuals affected by the tax cut may or may not be the same as those affected by interest rate hikes)?

The point of the tax cuts isn't to inject more capital into the system. The point of the tax cuts is to inject more money into the hands of the wealthy. After 6 years of Bush, I would have thought this would be apparent.

You know, opposing tax cuts for the wealthy does nothing but aid our enemies in the War Against Terror, don't you?

Originally posted by taxwonk
The point of the tax cuts isn't to inject more capital into the system. The point of the tax cuts is to inject more money into the hands of the wealthy. After 6 years of Bush, I would have thought this would be apparent.

You know, opposing tax cuts for the wealthy does nothing but aid our enemies in the War Against Terror, don't you?

Don't waste your time with him. It is obvious that He Hates America.

[Hank Chinaski]

Originally posted by ironweed
Don't waste your time with him. It is obvious that He Hates America.

Okay. I'm used to wonk whiffing completely- I mean sometimes I worry about him walking around downtown around traffic because I suspect he wouldn't be able to see a big truck heading at him-

but you Ironhead- you are dullwitted and typically lose arguments- but you usually seem to understand the post you lose too. wh'appened?

Originally posted by Hank Chinaski
Okay. I'm used to wonk whiffing completely- I mean sometimes I worry about him walking around downtown around traffic because I suspect he wouldn't be able to see a big truck heading at him-

but you Ironhead- you are dullwitted and typically lose arguments- but you usually seem to understand the post you lose too. wh'appened?

You really do need a nap.

[Hank Chinaski]

Originally posted by ironweed
You really do need a nap.

2. they finished, but i had a cuppa at 2 so now i can't fall asleep. maybe you could post a bunch of soccer news?

[Sexual Harassment Panda]

Originally posted by Hank Chinaski
2. they finished, but i had a cuppa at 2 so now i can't fall asleep. maybe you could post a bunch of soccer news?

Barcelona won. Ho-hum. Hey Hank, how 'bout some B-ball news instead?

[baltassoc]

Originally posted by taxwonk
The point of the tax cuts isn't to inject more capital into the system. The point of the tax cuts is to inject more money into the hands of the wealthy. After 6 years of Bush, I would have thought this would be apparent.

Im just noting what the media has told me in the past couple of days. Injecting more money into the hands of the wealthy is good because...[according to Bush] it injects more capital into the system.

So do you think this is a case of the left hand not understanding what the right hand is doing, an indirect subsidy to help save our precarious banking industry or a conspiracy to fuck the bond market?

[taxwonk]

Originally posted by baltassoc
Im just noting what the media has told me in the past couple of days. Injecting more money into the hands of the wealthy is good because...[according to Bush] it injects more capital into the system.

So do you think this is a case of the left hand not understanding what the right hand is doing, an indirect subsidy to help save our precarious banking industry or a conspiracy to fuck the bond market?

I just think we're governed by a confederacy of dunces.