• Krugminator2's Avatar
    02-23-2018, 10:13 PM
    Liberals are the most miserable people on the planet. First of all, tattling on someone for flying a Confederate flag is ridiculous. Secondly, here is her comment in the story. "She says, “Maybe that’s the story … we’re so stressed by all things political that we see things that aren’t there.” Who is we? What is she so stressed out about?
    29 replies | 323 view(s)
  • Krugminator2's Avatar
    02-22-2018, 05:37 PM
    Schiff is chronically bearish. Every shred of evidence refutes that worldview. Being a long term bear on equities didn't even work in Germany which lost two World Wars and half the country became Communist. https://www.amazon.com/Triumph-Optimists-Global-Investment-Returns/dp/0691091943/ref=sr_1_1?ie=UTF8&qid=1519342218&sr=8-1&keywords=triumph+of+the+optimists+101+years+of+global+investment+returns Economic views and making money in markets have no connection to on another. My original post was mostly about his bad market views. He is a good salesman and is good at talking about things like the cost of college and microeconomic topics. that said, even his marcroeconomic views are money were all wrong and he makes strong predictions about things that no one can know.. His lack of humility and his unwillingness to own up to being wrong are the worst parts. Here is an interview from five years ago with a Friedmanite. Sumner got everything right the last 9 years. Schiff is still saying the same stuff. He is a broken record. As I rewatch, I see he railing against the super secret inflation.
    43 replies | 824 view(s)
  • Krugminator2's Avatar
    02-20-2018, 10:46 PM
    That is the card they will play, but my argument is who cares? The whole point is getting a check is a conflict of interest. For example the government needs some employees. They should be compensated for their work. But in taking that compensation you no longer can vote. Republicans never cut Social Security even though it makes more sense to cut than anything. Old people vote Republican. 80% of people on the people on the assistance programs vote Democrat, so the Democrats protect those programs at all cost. If old people and people on welfare couldn't vote, you would have much more efficient programs.
    29 replies | 423 view(s)
  • Krugminator2's Avatar
    02-20-2018, 10:39 PM
    Of course, it will never happen now. Once you give people something you can never take it away. I am only saying what will work if it were implemented within a constitution. It is worth noting only like 25% of adults were able to vote for a significant part of this country's history and it worked quite well (minus slavery). The democracy fetish seems to be a new thing that is a result of progressivism.
    29 replies | 423 view(s)
  • Krugminator2's Avatar
    02-20-2018, 10:09 PM
    Right. I thought about saying that but felt like it goes without saying. Anytime you stick the camel's nose under the tent on any issue, it doesn't end there. What I find interesting is Republicans are most effective on taxes and guns. They basically take a zero tolerance stand on both issues, even though there is always temptation to bend. I think it helps politically yet they don't do it on any other issues. Maybe abortion to a lesser extent.
    455 replies | 5411 view(s)
  • Krugminator2's Avatar
    02-20-2018, 08:48 PM
    This seems like the kind of thing you do to placate people whining about gun control. This has zero affect on anything. The more practical question is it worth it placate the left when this will cost him votes from his base.
    455 replies | 5411 view(s)
  • Krugminator2's Avatar
    02-20-2018, 07:45 PM
    People respond to incentives either from the market or from the government. If you receive a government check, you have an incentive to at least perpetuate what you are receiving. The government should only exist to do what cannot be done conveniently by the private sector, so it makes sense people in the private sector should have the entire say. A simple a fix is if you receive a government check or don't pay federal taxes, you don't vote in federal elections. You eliminate the conflict of interest. Peter Thiel was somewhat right about letting women vote. My fix wouldn't be sexist. It would naturally let most married women vote and keep the single women who live off of the government from voting. And there is no racial component like the Framers included.
    29 replies | 423 view(s)
  • Krugminator2's Avatar
    02-18-2018, 11:47 PM
    I view the absolutists on gun ownership the same way I view people who are absolutists on tax abolition. I think both positions are impractical and would yield a worse result. The thing is automatic weapons are basically banned. We do have background checks. We had an assault weapons ban but only a rounding error are killed with what would be called assault weapons that doesn't make a statistical difference. I can't figure out what the left actually wants to do with gun laws. They keep saying they want laws that already exist. Yet, they seem oblivious to that fact. I suspect what they are really saying is they want mass gun confiscation like Australia or Japan, which I am certainly not in favor of.
    376 replies | 6758 view(s)
  • Krugminator2's Avatar
    02-18-2018, 09:31 PM
    I think I understand what the video is saying. I don't want to spoil it for anyone. But the gist is Jesus is like Ludwig Von Mises who likes sound money and Ben Bernanke is a devil worshiping free mason who prints money using a fibonacci sequence. It makes a lot of sense.
    4 replies | 228 view(s)
  • Krugminator2's Avatar
    02-17-2018, 09:38 PM
    This feels a lot like housing leading up to 2008. The idea that everyone should get into a house or go to college, backed up with government loans drives prices up. I am sure people can avoid the high costs with community college, just like no one forced people into adjustable rate mortgages. But when enough people ignore caution, it means that the taxpayer is going to get stuck with the bill. If Pocahontas gets elected president, things are going to get a lot worse. http://money.cnn.com/2017/05/12/pf/college/elizabeth-warren-student-debt-umass-commencement/index.html
    15 replies | 281 view(s)
  • Krugminator2's Avatar
    02-16-2018, 02:56 PM
    Schiff has all of the worst characteristics of market losers. 1. He makes fundamental macro predictions that are unknowable then he trades his clients money on them. 2. He is extremely confident in his opinions and then won't change them when he is proven wrong 3. I heard him say he lost money 2008 because the market didn't know what was right. He said gold and these random currencies should have gone up but people were too stupid to understand it. 4. He goes against 1 million percent a century gains that equities holders experience. It never pays to be a long term bear. It is funny that Warren Buffett has no idea what will happen with interest rates. Yet somehow Peter Schiff is certain of what will happen. Which begs the question, why does Peter have the shittiest money management record in history if he is such a bond genius?
    43 replies | 824 view(s)
  • Krugminator2's Avatar
    02-15-2018, 03:24 PM
    That decision obviously makes zero sense. I am in favor of putting the judge in prison. A better question is should people be allowed to maintain their property however they want, even if it lowers the value of properties around it? Should this graffiti mess be allowed on a building in downtown Manhattan even if it is an eyesore? Likewise with people who maintain there yard poorly in a subdivision. A property owner isn't violating anyone else's property rights. But they are imposing a cost on other people.
    17 replies | 332 view(s)
  • Krugminator2's Avatar
    02-14-2018, 09:48 PM
    Kind of a crazy video. 963426233563435009 I understand the economic argument. Most people today wouldn't have a skill set that would have worked for jobs in 1918. Change is good for growth. It does seem problematic that government schools don't teach people how adapt to technological change. When 40% of current jobs are eliminated in the next 20 years, I am not optimistic about the ability for people to cope.
    49 replies | 723 view(s)
  • Krugminator2's Avatar
    02-13-2018, 09:38 PM
    I don't blame Trump. Ron's coalition called the liberty movement was never going to hold. Most people just had a pet issue like wanting to do something about Monsanto putting fluoride in vaccines. It was never Trump or Rand's fault. Small government is just not popular among any group. It isn't popular among conservatives. You have Limbaugh talking about how the debt is no big deal. https://hotair.com/archives/2018/02/08/rush-gop-budget-just-dont-worry-much-national-debt-anymore/ I see people talking about how this spending resolution will pay for itself with growth from conservatives. (LOL WUT?) Even libertarians are not really small government people. Most libertarian sites haven't covered this spending bill and the brief shutdown. The Bleeding Heart people seem to be concerned with getting legal pot to illegal immigrants. Rockwell seems preoccupied with immigrants raping white people.
    34 replies | 665 view(s)
  • Krugminator2's Avatar
    02-12-2018, 09:41 PM
    My chart of spending from the OECD shows otherwise. The United States spends roughly the same per person as the UK. That should encourage you. With enough persistence and dedication, you can live off the US government. It won't be easy. Aim high. There is a government check waiting for you here.
    64 replies | 416 view(s)
  • Krugminator2's Avatar
    02-12-2018, 09:17 PM
    What does a country costing a lot have to do with debt? The United States has higher debt levels than the Scandavian countries now. You can have high debt and small government and a balanced budget and big government. Speaking of welfare spending, why does Britain hate poor people so much?
    64 replies | 416 view(s)
  • Krugminator2's Avatar
    02-10-2018, 03:45 PM
    If I had to guess, I would bet it has something to do with dividends being an inefficient way of giving money back to paying shareholders. Berkshire Hathaway has never paid a dividend but does aggressively buyback shares when they think it is appropriate. https://www.investopedia.com/ask/answers/021615/why-doesnt-berkshire-hathaway-pay-dividend.asp And left unquestioned is why workers should get a high percentage of a corporate tax cut. If you cut corporate taxes, the taxes still get paid in a different form. Either the company pays a dividend, reinvests in some form (including buybacks) for capital gains, or pays workers more. All three of those things are taxable. Workers are still getting more than they otherwise would have with the tax cut.
    10 replies | 310 view(s)
  • Krugminator2's Avatar
    02-10-2018, 03:25 PM
    Your article says it though and you thought it important enough to bold it. Share buybacks do increase earnings and share price but the paper I posted says it is greatly exaggerated.
    10 replies | 310 view(s)
  • Krugminator2's Avatar
    02-10-2018, 02:12 PM
    Oh good, another myth to dismantle https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3082460 Warren Buffett endorses share buybacks https://www.ft.com/content/0a9bda54-fb60-11e6-96f8-3700c5664d30
    10 replies | 310 view(s)
  • Krugminator2's Avatar
    02-10-2018, 01:21 PM
    The Senate was controlled by Harry Reid. The House voted overwhelmingly to extend the Bush tax cuts. http://thehill.com/blogs/floor-action/house/241679-house-votes-to-extend-all-bush-era-tax-levels https://www.huffingtonpost.com/2012/07/09/bush-tax-cuts-extension-obama_n_1659755.html
    34 replies | 527 view(s)
  • Krugminator2's Avatar
    02-10-2018, 01:15 PM
    That was a Democratic Congress in 2010. So to confirm. Obama is responsible for the tax hike in 2013. The top rate did go from 35 to 39.6% and government took in more revenue. Those were substantial hikes under Obama. The NIIT is 3.8% over 200k and you had a 4.6% hike over 400k.
    34 replies | 527 view(s)
  • Krugminator2's Avatar
    02-10-2018, 01:03 PM
    That's true. The Republicans do deserve 99% of the credit for the Sequester. But President Obama could have vetoed it but he didn't because he thought it would never come into fruition. He did not believe Republicans would allow an across the board cut, which fell heavily on military bases, to happen. It did. So I raised his letter grade up one pip to D-. Obama vetoed an extension of the Bush tax cuts or they somehow sunset. You think the Republican Congress wanted to raise taxes? They weren't permanent, so of course he is to blame for that tax hike. The NIIT was part of Obamacare. It literally has his name in the title. OBAMAcare. I feel like he bares the responsibility for that tax hike. He did sign it into law. And the regulatory agencies that increased regulations were his appointees. He wanted those increase in regulations just Trump gets the credit for the cuts in regulation.
    34 replies | 527 view(s)
  • Krugminator2's Avatar
    02-10-2018, 12:21 PM
    Obama was terrible for the economy. The recession ended in March of 2009 right after he took office and economic growth was slower under Obama than any post WWII President. Steep downturns should lead to steep recoveries. It didn't happen. Obama's increased taxes (like the Medicare NIIT tax and raising the top rate) and his out of control regulatory agencies harmed the economy. Increased tax and regulation are the last thing you do in an economic downturn. Obama gets a D- on the economy. I give him a D- and not an F because the Sequester happened by accident under his Presidency. Name one policy that he did that was helpful for economic growth. What? Cash for Clunkers? That goofy homeowners credit?
    34 replies | 527 view(s)
  • Krugminator2's Avatar
    02-09-2018, 04:14 PM
    Challenge accepted. Democrats controlled the House, Senate and Presidency in 2009. It lead to the bailout of GM, the stimulus with boondoggles like Cash for Clunkers, Dodd-Frank, that regulatory agency Mick Mulvaney is dismantling right now, Obamacare, and the nomination of two judges who hate the Constitution, more than any Republican nominations, to the Supreme Court..
    64 replies | 2323 view(s)
  • Krugminator2's Avatar
    02-09-2018, 07:52 AM
    No. This is nothing. 10 or 15% corrections happen almost every year. This past year was an anomaly. The rates on 10 yr treasuries have gone up. That is certainly a sign of optimism for the economy and is historically good for markets. http://www.businessinsider.com/heres-what-the-yield-curve-is-signaling-2018-2 This guy has made more money for investors than any hedge fund manager in history. https://www.marketwatch.com/story/ray-dalio-cash-on-the-sidelines-will-pour-in-to-stem-the-bleeding-in-this-market-2018-02-05 https://www.cnbc.com/2018/01/23/ray-dalio-says-market-surge-may-be-ahead-if-youre-holding-cash-youre-going-to-feel-pretty-stupid.html
    21 replies | 619 view(s)
  • Krugminator2's Avatar
    02-08-2018, 05:08 PM
    Krugminator2 replied to a thread Stocks: Market Crash Looming in Economy & Markets
    I hope Rand causes a huge gap down tomorrow by shutting down the government.
    3024 replies | 374255 view(s)
  • Krugminator2's Avatar
    02-08-2018, 07:57 AM
    That's correct. Is that really controversial? I don't seem to recall any recent beheadings in the Rose Bowl for drinking alcohol on Sunday. Maybe Mike Huckabee led one and I missed it? I am a big believer in looking at the empirical evidence. I haven't seen a persuasive case that Sweden, Germany, and the UK are better off with increased Muslim immigration. In fact, the evidence is those Muslims do not assimilate and it is has been a disaster. The unemployment among Muslim refugees is over 50% ten years after immigrating to Sweden.
    80 replies | 1331 view(s)
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