The Official Bendis Board 2012 Presidential Campaign Thread

[michealdark]

"The Lorax" has somehow managed to piss off both sides.

http://motherjones.com/blue-marble/2...mogulous-smoke

The fault for this lies not on the movie, but on Universal being willing to partner with anyone that can make them more money, even if it runs counter to the message in their films.

[Brian Defferding]

The mathematical equation that caused the banks to crash



This article has a good discussion of the basic assumptions underlying this and other models commonly used in economics.

I don't think the market crash was based on a mathematical equation. I think it was based on something irrational, under a guise of math. That article you linked thinks the financial sector was based on betting. But it ignores the biggest factor of them all - that such betting on other people's money, whether it was their consent or not, was legal. The Federal Reserve had power to control the supply of money. It allowed banks to use your deposit as part of a reserve ratio, and the government could dictate your reserve ratio all depending on the nature of the economy at the time and how many votes were required to win the next election, plus it was their best interest to insure most of your deposits to subsidize bankers's confidence to new borrowers.

[Dreaded Anomaly]

I don't think the market crash was based on a mathematical equation. I think it was based on something irrational, under a guise of math. That article you linked thinks the financial sector was based on betting. But it ignores the biggest factor of them all - that such betting on other people's money, whether it was their consent or not, was legal. The Federal Reserve had power to control the supply of money. It allowed banks to use your deposit as part of a reserve ratio, and the government could dictate your reserve ratio all depending on the nature of the economy at the time and how many votes were required to win the next election, plus it was their best interest to insure most of your deposits to subsidize bankers's confidence to new borrowers.

The reason that banks could make bets with other people's money is because of the repeal of the Glass-Steagal regulation which prevented deposit-based banks from also being investment banks. So, you would agree that deregulation was harmful here?

[Taxman]

I still fail to see why there is any inherent value in using gold as a standard. It is subject to supply and demand just like any thing else. The Spanish Empire faced massive inflation in the late 1500s because it brought back all the gold it discovered in the New World but had no underlying economic strength.

You're pretty clearly right here. But on the other thing, I had argued back before the crash that the economy had been shrinking for years and measuring it against anything other than the dollar would make that apparent.

[Sarcoidosis]

While I don't disagree with you regarding the Spanish Empire's gold, the point of the article is regarding the measuring from comparing one commodity - oil - to another commodity - gold. And it's not just simply "any" commodity, it's commodities that are common enough that mainstream markets prescribe an average value on important enough to which we watch like a hawk.

Please further explain your second sentence. The construction is confusing to me.

Market values do not reflect the same values from a centrally-powered bank or a government. Would you agree?

Yes, but I hope you realize that the above statement alone does not imply a defect with government values when compared against market values.

[Taxman]

Please further explain your second sentence. The construction is confusing to me.

i.e., he fucking loves gold.

[Dreg]

Well the State Dept. is taking about WMD's so I guess they have a 10 year old playbook they are going to follow

Exclusive: State Department quietly warning region on Syrian WMDs

Given what a total failure and national embarrassment that playbook was for this country, I kind of doubt it.

[Taxman]

Awesome!

How counterfeiting keeps N. Korea afloat

[Brad N.]

Stupid move on Maher's part if he wants to help Obama. $1 million comes fairly cheap to the Obama campaign, but you know Obama will now be dogged by questions about his "ties" to Maher, who's an honest-to-God extremist.

I doubt it'll be a real factor either way, though.

Whaaaaaat?!?

[Taxman]

Whaaaaaat?!?

What did you think you were gonna get with Glen Beck considered a centrist?