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http://www.nytimes.com/aponline/business/AP-IMF-Economic-Forecast.html

I still think if there's not enough money, banks should have to pay savers a whole lot more at the expense of executive compensation and profits (financial services have gone from about 10% to 40% of US corporate profits since c. 1980). But I keep forgetting that government bailouts get in the way of supply and demand.
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Loki
banks should have to pay savers a whole lot more at the expense of executive compensation and profits

Dreamer!

brucedoe
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Dreamer!

That's me, just another c*ck-eyed optimist. Can I run for president now?

(I love these obscenity detectors. Apparently I could not get away with referring to the usual term for rooster fighting or the male variant of pea hen.)
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(I love these obscenity detectors. Apparently I could not get away with referring to the usual term for rooster fighting or the male variant of pea hen.)

I think you can...if you use the "secret" method...let's find out...

cock-eyed

Acme
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I still think if there's not enough money

http://research.stlouisfed.org/publications/usfd/20080404/usfd.pdf

But, the Fed’s MZM series (money of zero maturity), which has been increasing at double digit rate for months and has soared at an annual rate of 37.7% in the last four weeks, shows money and credit are flowing freely. Year over year it has increased at 16.3%. This series offers no evidence there is a credit crisis or credit crunch.

Looks worse then we think, bankers are calling wolf so the Fed allows them steal from us.
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IMF still unamused: "greatest shock since Great Depression":

http://www.guardian.co.uk/business/2008/apr/09/useconomy.subprimecrisis

Happily, my "gift" from the government will cure all. (I'm going to use it to pay back the money in my account I owe in taxes and have enough left over for a loaf of bread, assuming bread prices don't go up by then.)
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>> IMF still unamused: "greatest shock since Great Depression": <<

That kind of alarmism repeated often enough could make it true eventually.

#29
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That kind of alarmism repeated often enough could make it true eventually.

I'm not convinced economics is mind over matter, except of course among day traders. If people stop spending money they don't have on things they can't afford, it may finally force the realization that numbers do have to add up. It may also force economists and politicians (and even the NY Times editorial board) to stop spouting the myth that when someone else is willing do a job for less in a place that doesn't care about such niceties as protecting the environment or worker safety or consumer safety, those jobs will be replaced by better jobs, if only those pesky people who just want to work hard and settle down and have a halfway decent life with some degree of job security, would just get themselves some job retraining or a better education (so instead of being a nation a farmers or a nation of factory workers, we can become a nation or lawyers and real estate agents and financial planners).
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or pension fund managers.....

(so instead of being a nation a farmers or a nation of factory workers, we can become a nation or lawyers and real estate agents and financial planners).


KBM (you want fries with that?)
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Happily, my "gift" from the government will cure all. (I'm going to use it to pay back the money in my account I owe in taxes and have enough left over for a loaf of bread, assuming bread prices don't go up by then.)

At least you'll get a "gift". Some of us won't, including my almost 90 year-old mother who sold some stock last year and "made" more than $75k.
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At least you'll get a "gift". Some of us won't, including my almost 90 year-old mother who sold some stock last year and "made" more than $75k.

That's too bad--really, I am sorry. Timing, as they say, is everything.

The year before we no longer had to pay taxes on the profit from the sale of a home (up to $500k) regardless of the relative cost of the next home, my parents sold the house they owned for over 40 years, and traded down. They bought their first house--a smallish rancher in the NYC burbs--in 1949 for $19k and sold it in 1994 for $490k. They lost out on a great deal more than $1200, enough to make a dent in their standard of living in retirement. Timing...
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At least you'll get a "gift". Some of us won't, including my almost 90 year-old mother who sold some stock last year and "made" more than $75k.

If her 2008 income will be less than $75k, she may be eligible to receive the "gift" after she files her 2008 tax return.
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