Greenspan is senile

[Sergeant Bob]

But in case you are interested take a look at the latest forecasts for the deficit and notice how it is declining rapidly.

Yes, little known fact. Notice, the Democrats and their sycophants are strangely silent on that fact.

[Guest]

He is a dangerous, plotting tyrant. His devious and Satanic meddling with the economy is made all the worse since we know that at one time he was a libertarian free-market, hard-money, Austrian economist who sold out to the Keynesian central-planners to attain power.

... ill-informed rant...

Which part is ill-informed?

[The Rabbi]

He is a dangerous, plotting tyrant. His devious and Satanic meddling with the economy is made all the worse since we know that at one time he was a libertarian free-market, hard-money, Austrian economist who sold out to the Keynesian central-planners to attain power.

... ill-informed rant...

Which part is ill-informed?

Every word between "he" and "power".  Inclusively.

[Guest]

... ill-informed rant...

Which part is ill-informed?

Every word between "he" and "power".  Inclusively.

Greenspan was a colleague of Ayn Rand and a member of her intellectual circle. He wrote a paper on the dangers of fiat currency and the central bank, and the benefits of gold and silver. He was an objectivist/libertarian and attended Rand's funeral.

He's dangerous because of his tampering with the interest rates, stock, bond and metals markets and expanding the money supply. He's plotting because he tries to manipulate the economy with obtuse and hieroglyphical mutterings that can be interpreted in more than one way. He has sold out because he has changed from a free-marketer to a central planner and he has tried to attain power...and has.

  "Satanic" was hyperbole.

http://www.usagold.com/gildedopinion/Greenspan.html

[The Rabbi]

Which part is ill-informed?

Every word between "he" and "power".  Inclusively.

Greenspan was a colleague of Ayn Rand and a member of her intellectual circle. He wrote a paper on the dangers of fiat currency and the central bank, and the benefits of gold and silver. He was an objectivist/libertarian and attended Rand's funeral.

He's dangerous because of his tampering with the interest rates, stock, bond and metals markets and expanding the money supply. He's plotting because he tries to manipulate the economy with obtuse and hieroglyphical mutterings that can be interpreted in more than one way. He has sold out because he has changed from a free-marketer to a central planner and he has tried to attain power...and has.

  "Satanic" was hyperbole.

http://www.usagold.com/gildedopinion/Greenspan.html

As I said, an ill-informed rant.

[Sindawe]

But in case you are interested take a look at the latest forecasts for the deficit and notice how it is declining rapidly.

A link would be nice.

[The Rabbi]

But in case you are interested take a look at the latest forecasts for the deficit and notice how it is declining rapidly.

A link would be nice.

http://www.washingtonpost.com/wp-dyn/content/article/2005/08/15/AR2005081500391.html

From the Washington Post, that mouthpiece of the Bush Administration.

[Guest]

Every word between "he" and "power".  Inclusively.

Greenspan was a colleague of Ayn Rand and a member of her intellectual circle. He wrote a paper on the dangers of fiat currency and the central bank, and the benefits of gold and silver. He was an objectivist/libertarian and attended Rand's funeral.

He's dangerous because of his tampering with the interest rates, stock, bond and metals markets and expanding the money supply. He's plotting because he tries to manipulate the economy with obtuse and hieroglyphical mutterings that can be interpreted in more than one way. He has sold out because he has changed from a free-marketer to a central planner and he has tried to attain power...and has.

  "Satanic" was hyperbole.

http://www.usagold.com/gildedopinion/Greenspan.html

As I said, an ill-informed rant.

Are you stupid?

[The Rabbi]

I didnt post that Greenspan is "plotting, dangerous, and/or Satanic" so obviously not.

[Sindawe]

Thanks Rabbi.  Couple of questions; I don't understand how the first decline in the deficit after three years in increases makes a rapid decline.  Its an N=1, sorta risky to discern a trend from a single point.  I will admit, I did not study economics, so my fiscal policy is pretty simple.  Pay the savings first, then the bills, invest the rest and leave a little for walking around/shooting money, but above all, spend less than you earn.

[The Rabbi]

Thanks Rabbi.  Couple of questions; I don't understand how the first decline in the deficit after three years in increases makes a rapid decline.  Its an N=1, sorta risky to discern a trend from a single point.  I will admit, I did not study economics, so my fiscal policy is pretty simple.  Pay the savings first, then the bills, invest the rest and leave a little for walking around/shooting money, but above all, spend less than you earn.

Hunh??

[Sindawe]

Sorry, I rambed a bit there.

You stated that based on the latests forcasts, the deficit is in rapid decline.  The linked article talks about ONE years forecast, not that for several years.  I see a data point, not a data set indicating a trend.

[The Rabbi]

Sorry, I rambed a bit there.

You stated that based on the latests forcasts, the deficit is in rapid decline.  The linked article talks about ONE years forecast, not that for several years.  I see a data point, not a data set indicating a trend.

I have no idea what you are getting at.

The deficit will be lower this year than last year, after three years of being higher one year than the next.  That is a declining deficit.  It is declining because the economy has improved.  It increased after 2000 because the economy got worse.

[Sindawe]

Rabbi

I think you are making statements based on a very LIMITED set of data.  The forecast is for only ONE year, not for a span of several years.  Yes, if you graph out the deficit since 2, the rate of change from 2004 to 2005 is -81, which is pretty steep.  But so far it is only a one year change.  The phrase "declining rapidly" carries the connotation that the reduction is occuring over several years, which so far it as has not.

[Paddy]

And keep in mind, those 'numbers' are only for budget items.  The federal gov has HUGE off budget expenditures that are not even considered in calculating the current deficit (which is only one years worth of excess spending).

[The Rabbi]

Sindawe,
Is English your native language?  I just get the feeling we are not communicating here.

No one can forecast more than a year or two because so many variables are involved.  I never claimed to be able to or that anyone else could.
The phrase declining rapidly means just that.  It will be lower this year than last year due to increased tax revenues which are occuring despite Bush's tax cuts (or because of them to take the positive side).
Someone made the point that the deficit is enormous and there was some political anti-Bush sentiment along with that.  I pointed out that Bush's policies are causing an increase in economic activity in the US and along with that is a lowering of the deficit so the issue of the deficit is really a non-issue.
It is a non issue anyway because the actual dollar amount of the deficit is significant  only in relation to the overall US economy.  In fact as a percentage of GDP the deficit is lower now than has been in many historical time periods and is considerably lower than that of other industrialized countries.

[Sindawe]

Yes, English is my native language.  I guess it comes down to a matter of perspective.  A change in value over one time interval (here, the deficit from one year to the next) is not a rapid anything, since the number of data points indicating that change is only an N=1.  If last year I earned $30k, and this year earned $45k, I am not rapidly earning more money.

[The Rabbi]

 If last year I earned $30k, and this year earned $45k, I am not rapidly earning more money.

If you dont call earning 50% more in one year rapidly earning more money then what do you call it??

[HForrest]

Well, the housing price market DOES need to cool down. Living in SLO county, you know as much as I do that the cost of a home here is freakin' insane. No one with a normal job can buy housing here. Our house in Atascadero has at least quadrupled, and my opinion is that anyone who could afford to live in Atascadero wouldn't. SLO county is a special (in a bad way) case, but houses are still way too much elsewhere.

That being said, I really want my parents to sell this POS house and cash in on the high prices before it's too late, so I know how you feel.

[atek3]

As I said, an ill-informed rant.

what specifically was ill-informed in the rant.

atek3

[thorn]

do i really even need to look past the title of a htread like this?
too funny, and kinda sad- because it's true

[Paddy]

He's at it again!  More trash talking about cutting social security benefits Greenspan again warns on trade, budget gaps  Well at least if government borrowing drives up interest rates, I'll get an increased return on the cash portion of my nestegg.