Is the American Dream Dead?

[droski]

I don't know about BPV because he has never mentioned it but Droski, who I actually named in my post, has a CFA. I'm not sure if you understand the weight that carries but it's basically a golden ticket in the financial world on the in-house side. They don't just hand those out. It's kinda like debating open heart surgery with a heart surgeon and all you have is a BS in English. You can disagree with him but they way you are coming across is just amazing.

there's something like 30,000 charterholders so you might be exagerating the accomplishment. :good!:

as for BPV I seem to remember he has an MBA from a top ivy league university, but he isn't as prone to tooting his own horn as i am.

 

[droski]

Then is demonstrates the hollowness of the ideology in the first instance. I don't doubt it takes a lot of knowledge to achieve a CFA, but it is easy to take apart vocabulary words at the root. It is easy to expose the vocabulary exercise and demonstrate what is happening in the real world.

Which is what I have done.

Droski has shouted "repo loans" and wisely (but not so bravely) taken a mulligan on the debate. We can admire BPV for foregoing his mulligan, but the result was catastrophic.

Which has been pretty normal around here. But, it is a testament to their knowledge that I have to work harder on this subject. :hi:

when have you ever demonstrated what is happening in the real world in this thread?

the sad part about your repo loan garbage is that if you had simply done what i had asked you wouldn't keep sounding like an idiot by saying the fed spent billions on overnight lending to the banks.

 

[NEO]

You realize you are the only one in this thread that thinks you make a lick of sense right?

I'm not trying to be rude but you are coming across so damn arrogant it's truly annoying.

Droski uses his CFA on a daily basis. It doesn't get more real world than that. Just because you have read some book doesn't make your view more real world.

He actually gets paid to deal with this stuff.

I am not picking sides because honestly this debate is absurd but it would just be nice if you could be less condescending.

 

[utgibbs]

You realize you are the only one in this thread that thinks you make a lick of sense right?

I'm not trying to be rude but you are coming across so damn arrogant it's truly annoying.

Droski uses his CFA on a daily basis. It doesn't get more real world than that. Just because you have read some book doesn't make your view more real world.

He actually gets paid to deal with this stuff.

I am not picking sides because honestly this debate is absurd but it would just be nice if you could be less condescending.

I admit I do run smack on the sports board. It does sound arrogant at times, but is meant to be more like jibes on sport radio. I try, and I like to think I succeed, in avoiding the name-calling. I like to focus on the opinion and not the person, but I certainly do include hyperbole and the sport radio machismo.

He makes money in the real world; I make money in the real world. I was certainly not one who cried foul that Alvarez was not an geologist when he discovered the iridium spike at the KT boundary.

Right now, droski is claiming that the taxpayer, giving 0% interest loans to the banks which they then loaned back to the taxpayer at premium is good business, or bought treasuries which became solid assets to their portfolio, is simply farce I'm afraid. It is exactly what I said it was, an accounting trick.

It may work in the ledger book (for a brief period of time), it may fulfill the requirements of accounting vocabulary, but it certainly will not work in the real world.

Unless, of course, Keynes had it more right than even he believed.

And this still neglects the 1.25 trillion which was basically paid by the taxpayer to take "toxic" assets (great accounting vocabulary again) from a debit to a credit.

Is TARP in the red? YES. Have most of the banks paid back TARP? No Were the rules, especially regarding mergers, changed just for this emergency? YES. Was TARP peanuts in comparison to the other bailout packages? ABSOLUTELY.

 

[NEO]

Ok, I'm tired and not wanting to jump to much into this but it is good business in certain aspects. For one, the banks use it to give capital to the public which in turn stimulates the economy. The economy becomes stimulated and the dollar is worth more. The dollar is paid back at 0% but it is paid back at a stronger value. This is as bare bones as it gets. You can talk about what part of this isn't happening, and yes there is plenty in this cycle that needs to be fixed, but this is how the cycle is suppose to work. I don't honestly agree with how low the feds are loaning out money right now now how hard it is for a business owner like myself to borrow money but that's a different story.

Right now if I want to borrow a million I have to have a million liquid already. It is ok for people like myself who are borrowing to spread the debt over a course of time for taxes and cashflow ratios but to a guy who's trying to start up the requirements are too tough. It is great business for the banks right now. It is great business for established businesses. The other parts right now are debatable.

 

[Vol423]

And this still neglects the 1.25 trillion which was basically paid by the taxpayer to take "toxic" assets (great accounting vocabulary again) from a debit to a credit.

lol:

 

[utgibbs]

Ok, I'm tired and not wanting to jump to much into this but it is good business in certain aspects. For one, the banks use it to give capital to the public which in turn stimulates the economy. The economy becomes stimulated and the dollar is worth more. The dollar is paid back at 0% but it is paid back at a stronger value. This is as bare bones as it gets. You can talk about what part of this isn't happening, and yes there is plenty in this cycle that needs to be fixed, but this is how the cycle is suppose to work. I don't honestly agree with how low the feds are loaning out money right now now how hard it is for a business owner like myself to borrow money but that's a different story.

Right now if I want to borrow a million I have to have a million liquid already. It is ok for people like myself who are borrowing to spread the debt over a course of time for taxes and cashflow ratios but to a guy who's trying to start up the requirements are too tough. It is great business for the banks right now. It is great business for established businesses. The other parts right now are debatable.

So Keynes was right all along. I dig it.

As a business owner myself, it is with a very cynical eye how our social safety net is geared entirely for the investment class.