• Krugminator2's Avatar
    Yesterday, 04:52 PM
    I don't get the support for Nelson Mandela. Marxism is worse than anything. Worse than apartheid. Marxists are the biggest human rights violators. Ending Apartheid is nice. Turning around and stealing land from people and not having a predictable rule of law negates the good things done. I'd be curious to see the economic data in South Africa during Apartheid, even with sanctions, versus how they are doing now.
    4 replies | 71 view(s)
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    05-25-2017, 07:10 AM
    Anyone chasing Bitcoin above $2800 right now and holding for more than a few hours will not be spared the rod as JL might say.
    4 replies | 313 view(s)
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    05-22-2017, 03:43 PM
    I really don't know why humanities and social sciences exist (with the exception of economics). All of these people are scam artists. Here is a ranking I saw recently of the most racist Presidents from a history professor at Florida. http://www.huffingtonpost.com/ibram-x-kendi/would-a-president-trump-m_b_10135836.html Of course W., Reagan, Jefferson, and Coolidge were on the list, because of course. Ku Klux Klan member Ronald Reagan gets the three spot and one of the reasons listed is that he cut taxes.
    16 replies | 315 view(s)
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    05-21-2017, 11:20 AM
    "Creating value for shareholders," Paine told me, "is a crucial aspect of companies’ performance — but it’s not the only one and it’s not a license to run roughshod over everyone else. Paradoxically, when it’s taken in this way, it’s not even good for shareholders, at least not for shareholders in it for the long haul." So she completely ignores what Friedman said, created her own interpretation of shareholder value and then straw manned the argument. And then points out something that disproves her whole point. Reading the interpretations of what Friedman said is like reading all the false interpretations of libertarianism in general that people project. Maximizing shareholder value is the same thing as maximizing rational self interest in Ayn Rand's view. You don't accomplish that by cheating, stealing, cutting corners, treating employees poorly, and managing affairs just for the short term. Acting with integrity with a long term focus is part of maximizing shareholder value and part of acting selfishly.
    7 replies | 293 view(s)
  • Krugminator2's Avatar
    05-19-2017, 10:28 PM
    865390962675023873 I see Wikileaks is blaming the US for Venezuela's problems. What a trash organization. It is always the mean old US causing Marxism to fail in Cuba and Chile and Venezuela and the USSR.
    13 replies | 212 view(s)
  • Krugminator2's Avatar
    05-19-2017, 08:17 PM
    1. Corporate taxes are only 11% of total tax receipts. 2. Infrastructure spending is only 2% of all federal spending. If you eliminated corporate taxes it would have zero effect on infrastructure spending. 3. Corporations don't pay taxes. People do. If you lowered the corporate tax rates to zero, that doesn't mean you would collect those taxes. If the corporate tax rate went to zero companies would either pay shareholders a dividend which would be taxed, they could reinvest and shareholders would pay a tax on increased capital gains, or they could pay their workers more and that money that would be taxed. There are people I genuinely have sympathy for. You are not one of those people. Giving you welfare is not an act of compassion. A kick in the ass would be an act of compassion. Western society tolerates underachievement, so you won't starve to death if you don't push yourself. But just for your own self-esteem. It is impossible for someone to be happy and to be leeching off the government. Here is a guy with no arms and no legs being productive. http://www.jamesaltucher.com/2017/05/jon-morrow/
    150 replies | 2922 view(s)
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    05-18-2017, 02:29 PM
    Not sure why anyone here would be happy about this. Ailes gave Stossel, Judge Nap, Kennedy,and Jedidiah Bila airtime. And he built a network that counteracted all of the other trash. Fox News is far from good but it is preferable to anything else. I am not eagerly awaiting a right leaning channel that is going to move to the center and get lower ratings under the leadership of Murdoch's liberal son.
    12 replies | 382 view(s)
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    05-14-2017, 12:39 PM
    FWIW Buffett and Munger talking about owning IBM as a bet on AI.
    13 replies | 599 view(s)
  • Krugminator2's Avatar
    05-13-2017, 06:14 PM
    You don't need a hypothetical. Pinochet was justified in ousting Allende and then killing Communist protesters who wanted a Communist revolution. The alternative of Communism is so much worse that doing whatever is necessary to stop it would be justified. I don't think Hugo Chavez or Castro need a trial. Assassinating them would have been fine.
    114 replies | 1820 view(s)
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    05-13-2017, 02:20 PM
    It is absolutely amazing that Bob Murphy and Jeff Deist celebrated Hayek's birthday by having no idea what what Hayek believed and said about monetary policy. "Russ Roberts did an interesting interview with Larry H. White on F.A. Hayek. Among other things, we are reminded that Hayek actually favored stabilizing nominal spending as a policy goal." http://macromarketmusings.blogspot.com/2010/02/hayek-and-stabilization-of-nominal.html NGDP targeting: Hayek's Rule https://www.adamsmith.org/blog/economics/ngdp-targeting-hayeks-rule “I agree with Milton Friedman that once the Crash had occurred, the Federal Reserve System pursued a silly deflationary policy. I am not only against inflation but I am also against deflation. So, once again, a badly programmed monetary policy prolonged the depression.” “If I were responsible for the monetary policy of a country I would certainly try to prevent a threatening deflation, that is, an absolute decrease in the stream of incomes, by all suitable means, and would announce that I intended to do so. This alone would probably be sufficient to prevent a degeneration of the recession into a long-lasting depression.”
    5 replies | 446 view(s)
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    05-11-2017, 06:08 PM
    I don't know that people are being discouraged as much as Asians are just better students and STEM is encouraged culturally. Being a fellow Wolverine, I am just curious what you notice about these pictures. Does anything stick out? http://www.engin.umich.edu/ioe/people/grad/masters http://www.engin.umich.edu/ioe/people/grad/phd/ph-d-students
    152 replies | 2680 view(s)
  • Krugminator2's Avatar
    05-10-2017, 06:20 PM
    Communist Ron Paul, "What is your view on legal immigration?I think it depends on our economy. If we have a healthy economy, I think we could be very generous on work programs. People come in, fulfill their role and go back home." "Is the economy healthy enough right now? No. I don`t think so. I think the economy is going downhill." "You have a long record of being a serious libertarian. You musthave libertarians who are annoyed with you on this. I imagine there are some, because there are some who are literally don`t believe in any borders! Totally free immigration! I`ve never taken that position." "Why not? Because I believe in national sovereignty."
    152 replies | 2680 view(s)
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    05-08-2017, 10:40 PM
    I think charging to immigrate is probably a good idea. For people who say the libertarian position is to let in anyone with restrictions, Gary Becker thought charging $50,000 to immigrate was a good idea in 2005. http://www.becker-posner-blog.com/2005/02/sell-the-right-to-immigrate-becker.html
    18 replies | 525 view(s)
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    05-07-2017, 05:02 PM
    I am not being closed minded but I have heard most of the anti-Pinochet arguments so I am not going to watch that Youtube. I suspect I won't learn enough from a guy who calls himself DemocraticSocialist01 to sway my view. I am not saying Pinochet wasn't brutal. And I am not saying I think he is even a good guy but my feeling about his methods probably could be summed up in this shorter Youtube.
    47 replies | 897 view(s)
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    05-07-2017, 04:19 PM
    I have no idea if those unemployment stats are correct for when Allende was in power. The unemployment rate in Cuba is 1% right now. It doesn't mean anything. Productivity matters. Chile had 350% inflation and starving people when Pinochet took power. Using stats during the middle of a financial crisis is really good way to make an anti-capitalist argument look good. Curiously your article doesn't mention that GDP grew at 7% annually from the period of your stats in 1983 over the next 15 years. Here is a better take from a Chilean who lived it. https://atlassociety.org/commentary/commentary-blog/3966-how-chile-was-saved So you are on the side of the Communists who were turning Chile into Cuba? Chile would be the one example where US meddling actually worked. If I were a neocon I would be bringing up Chile constantly.
    47 replies | 897 view(s)
  • Krugminator2's Avatar
    05-07-2017, 03:05 PM
    https://www.wsj.com/articles/venezuela-is-starving-1493995317 Bernie Sanders' America
    20 replies | 747 view(s)
  • Krugminator2's Avatar
    05-05-2017, 10:26 PM
    Grover Norquist is more libertarian than 90% of the people who voted for Ron Paul. He does not support tax hikes. That group IS an establishment organization which should be seen as a positive. A radical libertarian has the ear of almost every Republican lawmaker.
    112 replies | 2119 view(s)
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    05-05-2017, 05:01 PM
    Hugo Chavez is to blame. Venezuela is a Marxist country. Marxism NEVER works. Goldman Sachs didn't kill Chavez nor does anyone at Goldman Sachs care. But if they sat around and said, "Let's assassinate Hugo Chavez and buy assets in Venezuela for pennies on the dollar." Good. Give them a medal. And I see you are posting left wing anti-Pinochet trash. The CIA did help Pinochet. And that was a good thing for the people of Chile. We live in the future and can see the results. The country had hyperinflation and the Soviets were trying to turn it into a another Cuba. Pinochet saved the people of Chile from tyranny.
    47 replies | 897 view(s)
  • Krugminator2's Avatar
    05-04-2017, 08:39 PM
    The unemployment rate in Sweden among refugees is over 50% even among refugees who have been in the country for 10 years. https://www.bloomberg.com/news/articles/2015-09-30/refugees-welcome-to-sweden-you-ll-get-a-job-in-a-decade The unemployment rate of Syrian refugees in Canada is 50% after a year in the country. http://globalnews.ca/news/3119278/half-of-adult-syrian-refugees-unemployed-1-year-later-liberals/ It costs taxpayers $65k per refugee to resettle them in the United States. http://cis.org/High-Cost-of-Resettling-Middle-Eastern-Refugees 91% of the refugees from the Middle East the United States has recently taken in receive food stamps. http://www.frontpagemag.com/point/260106/91-middle-eastern-refugees-are-food-stamps-daniel-greenfield Refugees are a separate class of immigrant because they are not coming to the United States to work and assimilate.
    50 replies | 1111 view(s)
  • Krugminator2's Avatar
    05-04-2017, 06:20 PM
    Just took a look at his social media, it funny watching drooling slobs melt down over this. I don't agree with the vote but whatever. It is kind of amazing how worked up people get. It looks like Jim Jordan and Mulvaney were pretty adamant that he vote for the bill. There are always a lot of considerations on these votes. Just not a big deal. I think the only way to avoid a filibuster is to pass this bill and perhaps there is some consideration that it will be improved in the Senate. Although I do have to say, this bill looks like it is pretty loathsome to every political group.
    112 replies | 2119 view(s)
  • Krugminator2's Avatar
    05-04-2017, 02:14 PM
    "Hugo Chavez declared the oil belonged 2 the ppl. He used the oil $ 2 eliminate 75% of extreme poverty, provide free health & education 4 all," Michael Moore tweeted nearly four years ago. http://www.investors.com/politics/commentary/an-old-tweet-from-michael-moore-underscores-that-socialism-doesnt-work-ever/ "These days, the American dream is more apt to be realized in South America, in places such as Ecuador, Venezuela and Argentina, where incomes are actually more equal today."Bernie Sanders. http://www.libertynewsdaily.com/blog-929-flashback:-bernie-sanders-praised-socialist-venezuela-as-model-for-ending-income-inequality Venezuela has similar conditions to early 70's Chile with hyperinflation brought on by a Marxist government. It's is amusing to me that liberals would rather have the people suffer under a democratically elected Marxist than thrive under someone like Augusto Pinochet. Venezuela could use their own Augusto Pinochet.
    47 replies | 897 view(s)
  • Krugminator2's Avatar
    05-03-2017, 09:53 PM
    A lot of times markets trend into important events and are apt to reverse. Today was a FED day. Tomorrow is potentially an important vote. FWIW buying a down open tomorrow and selling the first up close vs the previous day has almost 90% chance of showing a profit and a pretty high % expectation for silver.
    27 replies | 535 view(s)
  • Krugminator2's Avatar
    05-03-2017, 09:15 PM
    Pretty dangerous precedent. Almost every state has an underfunded pension system. Illinois has less than half of the assets they should have in order to be able to meet obligations. If you bail out Puerto Rico, it sends the signal that almost every state should get a bailout when things go wrong.
    38 replies | 1220 view(s)
  • Krugminator2's Avatar
    05-03-2017, 05:42 PM
    States shouldn't own any business that a private sector company could run. I also don't agree that it is a better tax because it voluntary. You are raising revenue from stupid people who don't understand math. There is a strong overlap between the bulk of the revenue a casino collects and people who get a check from government. The average person is financially illiterate. Government doesn't need to be in the business of encouraging poor decisions through lotteries and casinos.
    18 replies | 325 view(s)
  • Krugminator2's Avatar
    05-02-2017, 08:15 PM
    You can deduct gambling losses against gambling wins not against ordinary income. Otherwise you would get taxed on an inflated income.
    11 replies | 582 view(s)
  • Krugminator2's Avatar
    05-02-2017, 07:48 PM
    Mulvaney would never support any of this as a Congressman. He was always being called an amnesty shill when he was in Congress. He would never vote for this budget or wall or the health care plan. Now he is enthusiastically shilling for this stuff. Trump got off to such a nice start with his cabinet picks and Gorsuch. He's bottoming out and I have no idea who is going to vote for him in 2020. He's just not good on anything.
    115 replies | 1911 view(s)
  • Krugminator2's Avatar
    05-01-2017, 07:39 PM
    The gold standard will always be Norm's performance. First joke about being in a room full of Democrats gets dead silence. The people they have gotten like Wanda Sykes, this Hasan guy, Larry Wilmore, Cecily Strong are just not funny. They are affirmative action hires. It isn't even just the political aspect. Al Franken was good. Jon Stewart would be good. Conan was good. Jay is good. There is no situation where Larry Wilmore or Wanda Sykes are funny.
    12 replies | 403 view(s)
  • Krugminator2's Avatar
    04-30-2017, 09:44 PM
    The best predictor of a recession is an inverted yield curve. All 7 recessions since 1950 have had an inverted yield curve that led a recession by 6-12 months with zero false positives. http://www.businessinsider.com/inverted-yield-curve-predicts-recessions-2014-7 Since rates are ultra low historically the yield curve might only flatten which is what has happened in Japan to precede recessions. The best answer is a recession is greater than 12 months away knowing nothing else. http://stockcharts.com/freecharts/yieldcurve.php
    25 replies | 615 view(s)
  • Krugminator2's Avatar
    04-30-2017, 03:00 PM
    That statement makes complete logical sense and you have posted it before. How does that idea explain Japan? Japan had no inflation and the largest deficits in the world by far as a share of GDP. Wouldn't the implication be that they should have run even larger deficits until they got inflation? And let's say that it worked and you got inflation through increased gov't spending. How easy is it going to be to cut government programs once you have the economy at full capacity.? If you manage demand by raising taxes, you are going to have negative incentive effects. Just as a real world practical matter, it seems like in government spending is always bad in the long run unless the spending is on core functions. What evidence is there that the idea of managing demand through fiscal policy actually works? I see no possible scenario in the real world where you aren't going to have crowding out from either larger taxes or spending that can't be cut. The UK went down the road in the Depression of running Japan like deficits and it was a perpetually underperforming economy until the 80's.
    174 replies | 3202 view(s)
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