David Stockman on the economy...

[kallend 1,623]

www.nytimes.com/2013/03/31/opinion/sunday/sundown-in-america.html?pagewanted=1&ref=general&src=me

Stockman was Reagan's budget director.

...

The only sure way to survive a canopy collision is not to have one.

[beowulf 1]

http://www.bloomberg.com/news/2013-03-31/stockman-warns-of-crash-of-fed-fueled-bubble-economy.html

[beowulf 1]

http://www.zerohedge.com/news/2013-04-01/guest-post-stockman-liquidation

[OHCHUTE 0]

This is all pretty easy to predict. When they vanquished the toxic debt created by the ponzi of selling CDS's you knew the economy was fake. It's just a shell game, yet the ones who own it are the ones moving the shells.

[beowulf 1]

You would think so, but people like Krugman have convinced a lot of people that massive government debt is no big deal and necessary.

[weekender 0]

Quote

This is all pretty easy to predict. When they vanquished the toxic debt created by the ponzi of selling CDS's you knew the economy was fake. It's just a shell game, yet the ones who own it are the ones moving the shells.

the debt is charged against earnings. it does not just vanish, as you constantly and falsely repeat.

If you have $4 in earnings and you charge $2 against that, you end up with $2 in earnings. It has not disappeared. You seem to have gotten your knowledge of write offs from Kramer on Seinfeld. He made the same mistake as you.

For those so inclined, you can find all of this information on the public filings. The companies normally announce their charges in the newspapers in front of or during their earnings calls. Nothing magically vanishes. Dont take my word for it, look it up. Unlike our friend Ohchute, You dont have to sound foolish on the topic.

(edited to correct typo's)

"The point is, I'm weird, but I never felt weird."
John Frusciante

[beowulf 1]

This has an interview with David Stockman. Very interesting.

http://www.zerohedge.com/news/2013-04-02/stockman-bernankes-actions-ultimate-consequence-will-be-train-wreck