testimony of a guy
who's been

a communist stooge

for 35 years in and out of organized mischief of the marxoid kind

community vs market

is more wrong headed

then equity vs efficiency

society as it evolves
evolves its own

standards of community and equity

and as to markets

hey there are markets and there are markets

after what thousands of years
yee ole burgershaftenlich abolished slave markets

for crim sake

what more can a freedom loving puss head want then that out of a single on the fly

social formation

right now its
your anomie

is my new vogue

at any rate
after thiry years of

make way for privateering

capital markets

if they train wreck themselves

may wake up

to “no more mr thru pass “

type policy

yup

the right of way

capital express

might get abridged …some

in this light even change comes in quanta

locus classicus
in cap markets

b4 john law
and after john law

self inflating bubbles
and other such paper towers

are vintage baby vintage

read :
'how i learned to stop

worrying

and love the capital markets '

by

cantillon jones

the rake of cambria

———
what in hell

was the sudden capital quantum leap

here's the ny fed honcho's story

the leaper :
” the systems and practices that support the over-the-counter (OTC) derivatives market significantly lags that of securities markets and other mature markets. “

dreams of post leap traffic lights

“We need to move quickly to put in place a more integrated operational infrastructure that

supports all major OTC derivatives products,

is highly automated,

has robust operational resilience and risk management,

and is capable of handling very substantial growth in volumes. “

ooops err this
ain't in place already

cassandra cries

“train wreck “

Posted by js paine at 01:30 AM

bruce wild one

data gathering might allow us to avoid job recessions

do the powers that be want that ???

or do the jobblers need to be blooded every so often
to tamp wage demands

why are we always in it b4 we know it ???

cause its better that way
if you want it that way

Posted by: paine | Link to comment | March 07, 2008 at 02:05 PM

paine says…
bruce again wilder still

i like your take on the 45-60 crowd
but i think its just the destruction rate now exceeds the production rate

in certain job cats

and of course the mid life dumpster
leaves grill flippin

for manly manual earners

there's no level rate option

so go under the table cut out the tax bite
and

do what …

petty construction for cash

snow plowing

stuff like that

Posted by: paine | Link to comment | March 07, 2008 at 02:11 PM

paine says…
to put the dynamics of all this in persepective

almost 2 million folks get hired and fired each month

the net up

is good if its 10%

since the first entry
to final exit diff tends to exceed

150 k

Posted by: paine | Link to comment | March 07, 2008 at 02:13 PM

paine says…
“organizational knowledge which made up a lot of that experience disappeared when the factories closed and moved to Mexico or China”

don't u mean to say
“.. lot of that experience “

became super-annuated

Posted by js paine at 12:20 AM

real story may well be as pk suggests
a revote on florida and michigan

but unless obama takes a terrible beating the rest of the way
—-and he's not likely to——

the obama folks will cry

bossism beat em in the end

as for the st hill old lady /chicano auxiliary

sour losers abound on either side

'nough bolt to ralph or stay home
and we get hanoi johhny

this is shaping up as a real
identity pol cluster f

stand off
if not train wreck

dual prez deal
ala attempted ford reagan fusion in 1980 ??

the egg's on all dembo insider faces now

Posted by: paine | Link to comment |
“Krugman's pre-occupation in his columns with “picking a winner” between Obama and Clinton has not, imho, been productive or worthwhile”

in fact
he's try to augur the bone drop

for policy diff

when neither is talking
real policy but

rather candy striped promises

conjecture
given two future universes

one with hill and one with 'bama

in the white house

the eco policy of either

will be seperated by a dime at most

“Given that Obama freely chose

Goolsbee, Liebman and Cutler

to from his economic team

it is certainly fair to draw clues

about his intentions

from the collected work product

of that chosen team”

the line up
pall barers all

makes me want to puke

but
i hasten to notice

the fdr open round 100 days

got figured by hoovers boys

plus his own

soon to be ejected

brains trust

and yet

his ultimate policy path

was

dictated by results reason and back door keynes

reality will close
the intentions to outcomes gap

between 'bama and mother clinton

Posted by js paine at 09:58 PM

its not fun
(at least not for most of us )

playing mortgage ogre

mark i suspect
has a certain uneasy feeling

as he combs the lice out

of both

the hair brain schemes

and the uncle sap scams

i say relief is relief
only if its timely sufficient

and generous to a fault

give it now

and thru uncle's free mint

but
penalty penalty

find the loose credit high hock rate
intentional pushers and wack em

try to be civil of course
but

i'd say fraud was the key

to plutonic paradise here

so fraud oughta yank em back to dirty reality too

go after the fraudsters

ndd
“..I say that as someone

who has taken heat elsewhere “

apparently not enough heat

“to borrow up to the eye balls “
as you suggest the hazardous lesson to be

requires one other ingredient:

some one has to lend to you

if foreclosure is a voluntary act
then these collection agents

of the beknighted bag holders

must see it as their very own personal

prefered

least lost/most profit option

too many
potential

stray agency /principal

interest contradictions

flying around here

…
“Force lenders to become landlords (the cramdown),

then they reap capitalist pain”

not necessarily so
“collectors”

might gain more by processing the sour deals

then the sound ones

the name names
jail terms for everyone

and wealth rake backs too of course

will require a javet mind set

a wrath directed at

the lender demonics

not

the borrower heels

ultimately
the flame thrower

needs to be

turned on the whole

private profit

home value shylocking system

but not till the ass hole
venal borrowing public

is safely if humbly

sheltered by uncle

thru uncle's free mint

but
penalty penalty

find the loose credit high hock rate
intentional pushers and wack em

try to be civil of course
but

i'd say fraud was the key

to plutonic paradise's here

so fraud oughta yank em back to dirty reality too

go after the fraudsters

———

free market

sez

” let markets allocate capital efficiently”

lot backed 30 year mortgages ??

where's the efficiency found ??

a second best guess at lot “optimal values” ??

in the real world
efficiency improving conjectural cases

could be made (given actually incomplete markets)

for almost

any rate change

at some time or other
we'll be righter then wrong

or wronger then right …

get me ???

if not
you may be

like my pet song bird …

sweet to the ear
but without a deep clue

ps
letting lots of

weeble hi fi wanna bes

play capitalist

efficiency master mind

on the open areas

of the internet

has its life enriching

howlerations

…
“At this point I'm following Meltzer

for what is prudent and ethical”

better i guess then following …oral roberts
but not much

since in the long run you'll be dead
and might meet oral's lord

speaking of the rock of ages
any chance

the almighty one's son

is a gold bug

or even a monetarist

i know he can't be a fiat prankster
like goethe's mephisto

well at least surely
the holy ghost's not a fiatist

he has infinite velocity
ndd

“..I say that as someone who has taken heat elsewhere “

apparently not enough heat

to borrow up to the eye balls
some one has to lend to you

if foreclosure is a voluntary act
then these collection agents

of the beknighted bag holders

must see it as their very own personal

prefered

least lost/most profit option

too many
potential

stray agency /principal

interest contradictions

flying around here

Posted by: paine | Link to comment | March 07, 2008 at 06:00 AM

paine says…
Force lenders to become landlords (the cramdown), then they reap capitalist pain

not necessarily so
“collectors”

might gain more by processing the sour deals

then the sound ones

the name names
jail terms for everyone

and wealth rake backs too of course

will require a jouvet mind set

a wrath directed at

the lender demonics

not

the borrower heels

ultimately
the flame thrower

needs to be

turned on the whole

private profit

home value shylocking system

but not till the ass hole
venal borrowing public

is safely if humbly

sheltered by uncle

rusty

“It is the castor oil theory, better to gulp than to sip. Take our medicine and move on (and yes there will be a human toll either way).”

castor oil ??

shades of aunt ironsides

and the black shirts

i can hardly agree less

yes swift massive action
but generous and relief bringing

at least

for the debtful householders

such “human ”
polonian transgressions

hardly “deserve ”

the squadristi treatment

and as to the other side of these squalid “deals “

patience
is the motto

relentless patience

in the official and posse type
civil court headed track down

of all the lender culprits

“why in the world are so many people trying to stop foreclosures? Letting bubble prices fall to fundamental levels is a good thing. It makes housing affordable. It gives future generations a chance to buy. Only when prices come down will sales start to come up.

This is an important point that almost everyone is missing”

maybe we're not missing the point
but only trying

to put the mostest part of the total loss

as lot values drop

where that loss belongs

on the bubble makers

not the bubble victims

Posted by: paine | Link to comment | March 07, 2008 at 06:26 AM

paine says…
reducing

flash points
a few good uns

but
to know all

by itself

is not to change anything

what action is called for
go to

“do xyz now “

not sit tight with

” i got it all figured

“We are all socialists now. Why trickle it out? May as well nationalize the entire housing market, the whole enchilada.

Let's move onto the next market where we can privatize the profits and socialize the losses.”

who's the real man

behind the irony mask

of course
a lot of us

might try to privatize gain

and socialize loss… if we could

this after all
after the s and l

is round two of such

credit institutional looting

the agenda calls for
not just some exemplary hangings

like hanoi johnny's friend keating got

for the last big raid

but massive shylock crucifixions

John Law:

now there's a guy
i'd like to be like

bubble pioneer ???
far more

the very doctor faustus
of modern credit

driven paper towers fred on the money as usual

” a massive tax cut starting with the poor and working upwards “

exactly

make it a payroll tax
job bonus rebate of massive scope and size

sure make it temporary

but tie its phase out

to a wage rate index

that only zeros out when

we have a return

to robust wage rate increases

given our job ethic

who could quibble with that

Posted by: paine | Link to comment | March 07, 2008 at 12:28 PM

paine says…
ahh but like the red sox of old

he blows it in the late innings

“Accompany this with a RISE in interest rates so as to push the dollar back up and eliminate the price inflation caused by the weak dollar. “

pure lunacy

beat the asians to death with targeted tariffs
calibrated to neutralize their fiddled forex

and ready to abate automatically as their cureency rises to ppp levels

we need to close the trade gap
before we can close the wage gap

as to inflation

lets take head on any
price tsunami

bound our way

from a lower dollar forex rate

i suspect it will be far less then
wally world capital export oriented

agitprop

would leads us to expect

Posted by js paine at 09:45 PM

males under 55 want to slack ??

change in part rate since the last peak

16-24

–.8

25-54

–.9

55 and over

1.1

the dynamics of our “informal economy”
are a third leg to the stool

maybe guys and gals are making a move into

the under the table sector

god bless
we still got cold cash

that uncle so far ain't put trackers in ..eh ??

Posted by js paine at 08:00 PM

here's mark's cages at full roar

 mark's
new new deal wish list

“We need to provide health and dental insurance
that doesn't end

when a worker changes or is between jobs.”

and dental ????
no way dental

“We should recognize

that it is normal

for both parents to work

outside the home.

Child care

that is affordable, reliable,

and that helps children

to get off to the best possible start

needs to be available to all parents.

For many parents, this is a big problem. “

amen bro

“We are much more geographically mobile
than we were in the 1930s.

If we expect a flexible workforce,

we need to do more to support

geographic movement of workers and their families.”

jobster rooks on wheels
if home is where the heart is

mobilize and motorize it



“I would redefine poverty

as a relative rather than an absolute standard

and ensure that everyone

has what they need

to fully participate in society”

nope i say job max pay max hour minflex
plus any ole time jobvac time bank loans

is

the only better deal able heads and bodies …deserve ie

comes to income

burger work wage rights rule

” And if my powers do not extend that far,
I would at least raise

- substantially - the absolute poverty threshold

and then make sure nobody falls below it.

Right now, it's too low.

Along these lines,

an expansion of the EITC is needed as well.”

agree with above proviso on types of remediations
the only welfare plan is a job

its the only solidarity inducing

welfare floor

that works

long term

because it involves work

job work sweat on every brow

from work or fever



“The existence of large speculative bubbles

- first in the stock market

then in the housing market -

threatens to undermine

the stability of the economy

and put an end to “The Great Moderation.” “

now comes mark's area of speciality in profession
fight product market inflation

not only with monetary policy

but mark's way

is fight fairly meaning

as safely as possible

for trans nat viability

and profit opportunity

ie

without curbing

the corpporations'unlimited

price setting license

bs mark

you be

an unconcious

capitalist toady

“We need to reexamine
the regulatory structure

of the financial sector

to be sure we are doing

all we can

to prevent destabilizing bubbles

from emerging.”

indeed we do
see mark as a product price jump fighter

didn't care about run away asset prices

until he noticed …

but …

“If the consequences were confined
to participants in these markets

this wouldn't be necessary,

but they are not.

Problems in financial markets

spread through the economy

more generally

and impose costs on people

who had nothing to do

with the creation of the problem.”

collateral damage control

he adds to get us going

“What else?”

i read the freshet of meme neoforimgs
and put up

my two cents nonsense

“I don't think everyone really wants to work, and have someone else raise their children”

“their children”
right of origimal producers

to ownership of off spring

with rights of transfer and rearage till majority

what a dated notion

what a fate for most raw folks
who had no choice

in their birth hole into this world

btw
“their ” 0 to 6 year old “children “

are more often far far better off

with a 40 hour per week

dose of outside “raising ”

most home cookin ain't up to
pay for it standards

vouchers please !!!!!

as to stay at home ….moms or dads

get a job you bums !!!!

eitc oughta be huge and run up
with a graceful taper as far as 100k per jobbler

and the wage min oughta be set optimallly
and linked

to average value added

as to a living stipend
not so long as one can job hold

then for sure

convert by stages
the ssi payments

from a retirement system

to a life time jobvac stipend system

funded out of a vat tax

future retirement system ???
65 healthy and broke ??

no loans without a death insurance off set

since debtors debts die with em …..

but want to retire ???
go ahead make my day

but buy

a tax credit based

annuity plan …. real early on

healthy old people can job hold too
for christ's sake

and its good for em too

the old parasites

btw

what a cruel senseless

hu-world we tol-erate

now

if i were made benign despot …

oh ya

that's jesus' job

come …..The Day

i can't wait
can you ???

A truly massive infrastructure program

with community plans worthy of calvin

ya lets put every one in america
by residence zoning

into 1000 model cities each one averaging

9 miles square ie ~ 35k per square mile

think of the ground rent tax on those puppies

winslow

single lender is the nuts

its twin to single payer health
and sinbgle payer pension

i'm for it

so lets

go for it babe

we need to use
the us postal system's

friendly gray facilities

as the ready to rock

bricks and mortarrrr here

build an instant

parallel national depository

and funds transfer system

and use the neighborhood

local loan office

for the few meat to meat transactions

the rest as you imply
is virtual anyway

lets
put the privateering

rent seeking banksmanships under

but by a fair and square competition

they're now just
excess baggage

looking for a cut

useless
artificial agggggglommerations

of limited liability

credit issuing power

all power to the credit soviets

laff

be careful how you toss around

” Mental Block(s) “

—————

” MANDATE elections (not voting) for union participation in all businesses”

lovely lovely lovely idea drewish one

vote on labor day every three years
ie each year one third of all firms

with over 15 hu-heads

and hu-hand pairs on payroll

“holding the future hostage to their worthless debt”

welcome to the world of private capital
“The glaring necessity for America is a more healthy and more talented work-force”

“healthy “
and “talented “

i love it

put in healthy talented jobblers
work 40 for 50 for 45

and if they make it thru the gauntlet

get out

wrecked jobbler hulks

neither talented or still healthy

this laff
shows no sense

beyond bentham and becker

not even the deeper reaches
of the market velt

get thee past
the heckle and jeckle

of supply and demand

—-

intervention

by reason

“Paine
35,000 per square mile = 55 people per acre - i.e average block (3 per house) 1/20 acre (c 200 m2).

Dense enough. But 1000 * 9 miles square, 9 miles square is hardly walkable. Why not 9000 * 3 miles square? (9 * 35000 = 315000) with clusters of cities to allow for the satisfaction of niche interests

…
reason its a deal

btw
you —as usual on your georgian home turf—-

are quite right

to walk is to live

but as potentate of hu-lag 17
i'll need a sedan chair anyway

…
god i love it

hobby horses on parade

…
“the Chinese will soon be marching through the streets of Boston (actually their students already are) carrying Chinese bayonets an wanting to steal our lobsters.”

anne

lovely

…
You want to finance people sitting at home, watching tv? And, with money from people who actually work?

no icarus
lets tax the zillionaires

to pay for this idleness by design

after all
its their reserve army of the unemployed

an army they deploy
an army

that by its mere existence

and size

thru out the cycle deters

those wageling greed heads

trying to grab

for a bigger piece of the extra vat

their profiteer bosses

just put into the mark up

as to financial combats

meaning

the great wall vs the street wall

M.A.D. finance policy
is the only kind

dear soul

the us dollar
is the global doomsday machine

attack the dollar
and you'll sink yourself and all

market dependant earthlings

right along with it

i notice all these new reg outfits
u folks envision

regulators
either get flat out “appointed “

by the regulated

as with the fed

or at best

down stream captured by the regulated

so go ahead reg em up

but like kong
when they get pissed enough

they will brake

your chrome steel chains any how

or like houdini

sneak in and out of em all along

Posted by: paine | Link to comment | March 05, 2008 at 08:11 AM

paine says…
“WPA/CCC-type program that guarantees employment chances, even if they are crap and pay minimum wage, that are more useful than make-busy work but still work, rather than simple unemployment”

i like ..

totally hear ya wild bill

Posted by: paine | Link to comment | March 05, 2008 at 08:13 AM

paine says…
one old frame fits perfectly however

“As far as Russia, we “Sachs-anized” them and the blowback is Putin”

bull's eye

Posted by js paine at 03:26 PM

why the academy is useless in the tough spots

“How can we quantify the actual effect of rising trade on wages? The answer, given the current state of the data, is that we can’t. ….. To put numbers to these effects, however, we need a much better understanding of the increasingly fine-grained nature of international specialization and trade. “

rw
pomposity of rendering aside

i agree

the ivy whore

won't slap the face of wall street

“everything is useless at turning points, that is the nature of transformation; observation fits itself into the framework theory provides until it can not”

apologia for muddle thru

and much else
some what

less worthy of toleration

as in
wait on “convincing proof”

till its too late to wreck our plot

Posted by: paine | Link to comment | March 01, 2008 at 05:25 AM

paine says…
“The growth of income inequality

is a function of educational standards”

as in

the growth of household inequality
is a function of credit standards

Posted by: paine | Link to comment | March 01, 2008 at 05:28 AM

paine says…
hari

you read like the poor hopeful soul
walking up the deep slant

of the stern quarter of the titanic

“hey we're not all sinking
go to the fan tail folks

its getting further and further

from the ocean's surface “

not closer

optimal market size

leads to optimal location and unit scale of production

these barter like ratios
derived from techical and demand drivers

beyond the distortions and interuptions

of crude border effects

like quotas and other “real”barriers

and even putting aside

he distortions of relative price found under tariff regimes

location optimizers

have further deflectors

manipulated final prices
or cost prices can be used to locate production

just about anywhere

policy likes best

profit max
has its agenda

and it often clashes with real productivity max

example
whole price levels are raised and lowered

by forex policy targets

to locate production where it otherwise would not be located

the point pk is making
is the location of a production

process that is spreading its web wider and wider

as transport and communication gets cheaper and faster

the import from conutry x

may have made intermediate stops in conurty y or and z

the final import may have various factor intensity stages

the location of the last stage is not a reflection of all prior stages factor endowment ratios

onlty that stages factor intensity requirements and endowment

Posted by js paine at 08:10 PM

“As the old saying goes, you can't make land”

no but you can make
more house lots

change floor plan to lot ratios

and building heights

and floor counts too

the infrastructure can be ramped up
with ground rent taxes fed back

into these infra improves…..

no sir
the value of your lot could fall

and stay fallen

in real terms for quite a spell

…
fabian 59

rental rates tend to obey local income ratios

pretty well

i'd expect the lot values to hang in nominal suspension

till other prices and of course incomes catch up

right now the policy intent
seems to be

” hold up lot values”

prevent a price cratering

and
to prop the house lots

various market manipulations

are feasible …underway …planned

some uncle gub

open to the public stuff

and

some closed door

evil bankic riggery

eegardless of policy
the greatest micro by the millions

market prop force

remains

mark's

irrational home sweet home effect

clingonism
as in

we all kin

ride it out pard

till better times come round agin

quite
a stink hole sink hole

…….

“Are people really supposed
to serve their economy

as they might serve some deity”

no
the gods of private profit max

make exceptions

its not all of the people
and not all of the time

just most of um
and way too often

…

owning a house lot

of your own

is

the jobbled american dreamers fools' gold

free to mow my own lawn ….to neighborhood standards

free to redecorate

my my

community AND independence

the life of Riley

unity of opposites

the yeoman reduced
to his quarter acre

of grass garage terrace tarmac

and 2k of walled in

wall to wall carpet

praise the lord
and pass the dunkins

a nation of job chasing nomads

lets not over play the hand here

why so bad
a certain rootless %

of jobblers ???

in the long run
familly and community

are not a match

for market atomization

and the kool soul of anomie

Posted by js paine at 07:55 PM