tag:blogger.com,1999:blog-18079728.post7260682896718846594..comments2023-11-02T07:30:03.967-07:00Comments on Cassandra Does Tokyo: Executive Order on Financial Literacy"Cassandra"http://www.blogger.com/profile/17412381249313151515noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-18079728.post-37648299660999669362008-01-31T10:20:00.000-08:002008-01-31T10:20:00.000-08:00Thx C - but I would remind you that government deb...Thx C - but I would remind you that government debt is ultimately a claim on housedhold assets; I would assume the MoF would rather raise taxes than default. Regarding US assets, US household net-worth continues to go higher and the foreign income account was positive until recently. Americans have always been risk-takers and if the Chinese/Mideast are lending to you at 5% and you are earning 10%Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18079728.post-9554427777155892182008-01-31T08:40:00.000-08:002008-01-31T08:40:00.000-08:00TheTom - thanks for that. Though you can't make it...TheTom - thanks for that. Though you can't make it up, you could prolly do better than 50/50 on a test of these things and whether or not they are factually attributable. <BR/><BR/>anonymous- yes the dollar is oversold. yes the us represents great "value" (though you still have to live in an essentially dysfunctional society). yes delveraging will eventually lead to dollar strength; yes "Cassandra"https://www.blogger.com/profile/17412381249313151515noreply@blogger.comtag:blogger.com,1999:blog-18079728.post-59509293023801190352008-01-31T08:06:00.000-08:002008-01-31T08:06:00.000-08:00Instead of kicking the US while it's down, I would...Instead of kicking the US while it's down, I would suggest you all ask yourselves what's the next trade and catalyst. House prices and debt levels are much more extended in parts of Europe, Asia, and especially the UK. The US has a lot of debt, but at least has inflation (unlike Japan with 170% debt / GDP and no inflation and migration). Moreover, the collateral underlying US debt is superior to Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18079728.post-418379849382467562008-01-31T07:04:00.000-08:002008-01-31T07:04:00.000-08:00Dear C: Just in case this slipped past your eagle...Dear C: Just in case this slipped past your eagle eye, Gogle the words-Koerner painting a charge to keep. From the world of "you just can't make this stuff up." It pertains to WAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18079728.post-19728423111870327962008-01-30T21:00:00.000-08:002008-01-30T21:00:00.000-08:00If you want a more pessimistic take on things, man...If you want a more pessimistic take on things, many Americans may subconsciously feel that the US is like the Austro-Hungarian Empire in 1910. So the game will be coming to an end before you know it. If you max out your credit cards with no intention of paying them off, at least you're fighting back against the rigged system.<BR/><BR/>In any case, I suspect a huge number of people will stop Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18079728.post-51764553819622681822008-01-30T14:13:00.000-08:002008-01-30T14:13:00.000-08:00I had thought there's be another bubble, either in...I had thought there's be another bubble, either in gold (a la Mencius)or brainpower, due to flood of new credit. But instead now I think it'll be in financial crimes and hoaxes. Why? I've got a squirrel trap in our garden, and keep trapping the same squirrels all summer. Public isn't any smarter than squirrels, are they?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18079728.post-70798866402177038622008-01-30T13:17:00.000-08:002008-01-30T13:17:00.000-08:00Woland....nice! and please do feel encouraged to d...Woland....nice! and please do feel encouraged to deposit whatever you might conjure.<BR/><BR/>The thing is, I actually think that inflation will NOT run away here and now in the face of the looming recession making 3% not outrageous. I just think tactically, they would have been better off waiting for the NEXT time markets puke of their own accord, and not as the result of a mimetic response to"Cassandra"https://www.blogger.com/profile/17412381249313151515noreply@blogger.comtag:blogger.com,1999:blog-18079728.post-543495748933686012008-01-30T13:07:00.000-08:002008-01-30T13:07:00.000-08:00While I am hesitant lest I abuse the welcome of y...While I am hesitant lest I abuse the welcome of <BR/>your comment space, let me make the following observation.<BR/>In the middle ages, when the King organized a hunt, it was unlike hunting today. The Sovereign and his retinue occupied a clearing at the border of a forest, which constituted the bottom of an inverted pyramid. On either side of said pyramid, serfs formed elongated barriers of Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18079728.post-46093630652015377042008-01-30T11:59:00.000-08:002008-01-30T11:59:00.000-08:00Oh there certainly is no shortage of lackeys, apol...Oh there certainly is no shortage of lackeys, apologists, and stooges for the vacancies. <BR/><BR/>I remain fascinated though somewhat troubled by the idea that The American Consumer, is, rather than a mindless, self-absorbed gluttonous consumptive tornado, an uber-rationalist who intuitively knows "Savings is for Suckers", at least under the post-Volcker regime as we've known it, and so has "Cassandra"https://www.blogger.com/profile/17412381249313151515noreply@blogger.comtag:blogger.com,1999:blog-18079728.post-31632657432743330052008-01-30T11:16:00.000-08:002008-01-30T11:16:00.000-08:00Dear C: Here's the problem: 18 of the members wi...Dear C: Here's the problem: 18 of the members will be Arthur Laffer, the 19th will be Larry Kudlow. "Litereracy" of course, has never been the problem, but ideology. Sorry to rush off, but I hear choppers comin'in.Anonymousnoreply@blogger.com