Myth465

I have no dog in this fight, but as Bill Maher said, whats really frustrating about today's politics is we cant even agree on the facts anymore. Most sources and logic shows that Ryan is a bit loose on the fact and details. I dont have time to cross reference everything, but I am going with those sources and my own logic. The debt ceiling which most followed closely is probably the best example of this. http://www.bbc.co.uk/news/world-us-canada-19427111 http://finance.yahoo.com/blogs/daily-ticker/paul-ryan-speech-filled-economic-inaccuracies-yahoo-jeff-150011000.html http://www.rttnews.com/1956911/ryan-s-convention-speech-singled-out-for-inaccuracies.aspx?type=pn&Node=B1 http://www.guardian.co.uk/world/2012/aug/30/paul-ryans-speech-audacious-untruths http://www.businessinsider.com/paul-ryan-speech-fact-check-on-aaa-credit-rating-2012-8 http://finance.yahoo.com/blogs/daily-ticker/paul-ryan-speech-filled-economic-inaccuracies-yahoo-jeff-150011000.html Look at who the S&P blames in its statement: Compared with previous projections, our revised base case scenario now assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place. We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act. Key macroeconomic assumptions in the base case scenario include trend real GDP growth of 3% and consumer price inflation near 2% annually over the decade. S&P downgraded the U.S., in part, because of a revised expectation that the Bush tax cuts would remain in place. They assumed this because of Republicans' unwillingness to enact any measures raising revenue, and they completely slammed House Republicans — including Paul Ryan — for doing so. Read more: http://www.businessinsider.com/paul-ryan-speech-fact-check-on-aaa-credit-rating-2012-8#ixzz25ORsKcqo --- There was once a time when lying in a political speech--and getting called out on it by the media--was shameful or embarrassing. Not anymore. Jeff Greenfield says that none of this will matter to voters, who will just blame the media and its silly "fact-checkers." And he's presumably right. None of this really matters to me, but I tend to call a spade a spade, and Ryan is a bit fast and loose like most politicians. --- But perhaps Ryan has an awesome marathon time, and everyone is wrong but Ryan about everything. Even on simple things like the date of a plant closing or the reason given by a rating agency for a downgrade.

One has to admit its pretty bad when even Fox News calls something deceiving. http://www.foxnews.com/opinion/2012/08/30/paul-ryans-speech-in-three-words/

This is to be expected. Ryan is closer to Obama then Romney on Medicare. He has to twist a bit to stay in line with his boss. This is my 3rd election following politics closely. I am now fully in the cynic camp and this type of stuff is to be expected... This is our first political thread in a long while, also how can you trust Romney reminds me of this joke ... -- A mathematician, an accountant and an economist apply for the same job. The interviewer calls in the mathematician and asks "What do two plus two equal?" The mathematician replies "Four." The interviewer asks "Four, exactly?" The mathematician looks at the interviewer incredulously and says "Yes, four, exactly." Then the interviewer calls in the accountant and asks the same question "What do two plus two equal?" The accountant says "On average, four - give or take ten percent, but on average, four." Then the interviewer calls in the economist and poses the same question "What do two plus two equal?" The economist gets up, locks the door, closes the shade, sits down next to the interviewer and says, "What do you want it to equal"?

Where is Bronco, I remember you guys would have this discussion every few months... Hopefully he comes back one of these days.

That was my key takeaway...

Just an FYI, barely manipulating something isn't some legal threshold that bestows immunity. And it's funny you said "if banks...," What? Is your browser broken? Can't read the emails yourself? Don't trust the Bank of England's own testimony? LOL you read my mind....

Very good, thanks for the links. I really like James Montier, but cant read him... Great presentation.

Wonderful point. Germany is HUGELY at fault. They generate massive trade surpluses via debt-financed exports it's neighbors - ONLY possible due to a lack of floating exchange rates, which would naturally correct trade imbalances - yet has the audacity to jam austerity measures down the throats of those same countries that fueled its booming economy. It's hysterical. They are China on steroids, yet they claim innocence while they drive the EZ into depression. They should be ashamed of themselves. I agree. I think Germany has benefitted most from the Europe, and if their customers go up they are screwed 60% of their exports go to the EU.....

;) LOL This thread is a riot.

How can I forget the economist, I go through that almost cover to cover each week.

I watch 90% of the Charlie Rose videos. I also listen to most wealth track pod cast. Aside from that I watch most videos linked from here, Canadian Investor, and Guru Focus. These are interviews of value investors. FInally I read most posts here. Will cut something out, running low on time.

Words to live buy. I just paid up for a new HTC smart phone, best money I have spent in a while. Same for some mid range headphones. Also started paying up for cloths, and believe if you are reasonable they will pay for themselves in various ways.

I agree but they do have items put in place, Such as a $90k plus income exclusion as well as a housing related exclusion to make it a bit more bearable.

U.S. Senator Charles Schumer proposed legislation yesterday that would impose a capital gains tax on people who renounce their citizenship unless they prove their reasons don’t include avoiding taxes. Isn't that more lenient than the current "exit tax", under which you pay the capital gains tax no matter what your story is? Do I misunderstand him? I am very happy with Schumer and am quite surprised to see politicians for once being on top of their game. Saverin should not be allowed back to the US, EVER! and any investments he makes in the future should be taxed @ 30%.. What he did was disgusting and I am shocked the media thinks he only avoided $67mm.. I have it on very good merit that the valuation he used on his exit tax date was $18 per share. The amount is more in the realm of $400-500mm that he circumvented. I tend to agree. Getting taxed 37% on all US investments in Oz, capital gains are reduced by 50% if its long term. Doing massive tax planning, to plan for having to pay taxes in both countries - but I would never give up my Citizenship. I guess thats easy to say though because my taxable income will be nil due to exclusions. If one does give up his citizenship then its fair, but they shouldnt be allowed back in.

+2

Which one. I have 3 on oil and gas.

I looked through all of them and picked these. Some based on Speakers, and some on topics. http://www.milkeninstitute.org/events/gcprogram.taf?function=detail&EvID=3190&eventid=GC12 http://www.milkeninstitute.org/events/gcprogram.taf?function=detail&EvID=3566&eventid=GC12 http://www.milkeninstitute.org/events/gcprogram.taf?function=detail&EvID=3431&eventid=GC12 http://www.milkeninstitute.org/events/gcprogram.taf?function=detail&EvID=3344&eventid=GC12 http://www.milkeninstitute.org/events/gcprogram.taf?function=detail&EvID=3192&eventid=GC12 http://www.milkeninstitute.org/events/gcprogram.taf?function=detail&EvID=3609&eventid=GC12 http://www.milkeninstitute.org/events/gcprogram.taf?function=detail&EvID=3642&eventid=GC12

Thanks Moore, these also popped up on my economics RSS feed. I planned on listening to these 2 based on the guest listing. Are there any others that you recommend. Milken Global Conference Video: Where Will Economic Growth Come From? Speakers: Willem Buiter, Chief Economist, Citigroup Terry Duffy, Executive Chairman, CME Group Inc. Mohamed El-Erian, CEO and Co-Chief Investment Officer, PIMCO Kevin Warsh, Distinguished Visiting Fellow, Hoover Institution, and former Member, Federal Reserve Board of Governors Moderator: Maria Bartiromo, Anchor, CNBC ---- Milken Global Conference Video: The Future of Capitalism Speakers: Niall Ferguson, Laurence A. Tisch Professor of History, Harvard University; Senior Fellow, Hoover Institution Ana Palacio, Member, Spanish Council of State; former Minister of Foreign Affairs, Spain Peter Passell, Senior Fellow, Milken Institute; Editor, The Milken Institute Review Raghuram Rajan, Eric J. Gleacher Distinguished Service Professor of Finance, University of Chicago Booth School of Business Moderator: James McCaughan, CEO, Principal Global Investors

Thanks for the various replies. I will read the article, this weekend. The replies are interesting and provide the other side of the argument that isnt usually heard in value circles.

Some people will never let this one go....

With that attitude you will reading about everything for the rest of your life, until you know everything about everything. I know its BS, and dont mind hearing about why its not, but I have yet to hear a valid argument. I have a basic idea of what HFT is, but am more concerned with how it helps and why it should be allowed. I will likely scan that article, but I dont have high hopes.

LOL Fair enough. I just dont want to read a 4 part series on legalized front running. The guy should be able to tell you in 2-3 sentences how its helpful to society. I have a reading list 8 miles long, and this wreaks of a guy trying to justify bullshit because it pays the bills.

Call me closed minded, but I stopped reading after this part. I’ll attempt to justify the social value of HFT (under some circumstances), and describe other circumstances under which it is not very useful. Time is valuable. Have I really missed anything?

This too is quite good. Highly recommended.