Jeff Greene tells us about our future...

[4est_4est_Gump]

The Democrat economic recovery plan:

Billionaire Jeff Greene, who amassed a multibillion dollar fortune betting against subprime mortgage securities, says the U.S. faces a jobs crisis that will cause social unrest and radical politics.

“America’s lifestyle expectations are far too high and need to be adjusted so we have less things and a smaller, better existence,” Greene said in an interview today at the World Economic Forum in Davos, Switzerland. “We need to reinvent our whole system of life.”

...

Greene, who flew his wife, children and two nannies on a private jet plane to Davos for the week, said he’s planning a conference in Palm Beach, Florida, at the Tideline Hotel called “Closing the Gap.” The event, which he said is scheduled for December, will feature speakers such as economist Nouriel Roubini.

http://reason.com/blog/2015/01/21/democratic-billioniare-jeff-greene-tells
http://www.bloomberg.com/news/print...-long-on-u-s-while-bemoaning-jobs-crisis.html

You do with less.

There is going to be no opportunity to grow the pie, so everyone gets smaller pieces.

It is the way things work in a Social Welfare State because Social Justice does not come cheap, nor does it ever come at all...

 

[RobDownSouth]

Thankfully we have you and your fellow Not-Republicans working tirelessly to lower the standard of living in Murica.

 

[4est_4est_Gump]

President NO
Jeffrey Lord, American Spectator

Call him President No. He doesn’t want to cut taxes. He will veto any attempt to overturn the mess of Obamacare. He is adamant about opposing anyone who wants to undoing his executive order on amnesty, or his sudden turnabout of U.S. policy on Cuba. He won’t say yes to the Keystone XL pipeline. And hell will freeze over before he utters the words “radical Islamic terrorism.”

Now the White House is furious that Speaker John Boehner has issued a February 11th invitation for Israeli Prime Minister Benjamin Netanyahu to address Congress, this just hours after the president made it clear that he would say no to any new sanctions on Iran. “But new sanctions passed by this Congress, at this moment in time, will all but guarantee that diplomacy fails  —  alienating America from its allies; and ensuring that Iran starts up its nuclear program again,” Obama said. “It doesn’t make sense. That is why I will veto any new sanctions bill that threatens to undo this progress.”

...

In fact, this perpetual sourness is what the world of progressivism has ultimately and inevitably become. When your only domestic idea is to expand the government and spend more money, when anyone comes along with even the slightest deviation from the progressive norm, the reaction is an instant and loud harrumphing “NO!” When you are obsessed with a near (near?) messianic idea that you and you alone can save the world, being interfered with by a bunch of Republican congressmen is, to say the least, annoying.

 

[4est_4est_Gump]

NO NEW PROSPERITY!

Only new taxes to buy Middle-Class votes...

 

[RobDownSouth]

President NO
Jeffrey Lord, American Spectator

Somebody has to be the adult, Chief.

 

[4est_4est_Gump]

Lacy Hunt pinged me with this thought ...

"Academic research indicates that QE in the US contracted rather than expanded economic activity, just as it did in Japan. Thus, Steen could have made the even stronger case that since it didn’t work in the US or Japan, it will not work in for the ECB."

For a detailed explanation, please see Grand Experiment Failure; Bankers Prefer Bubbles; Europe is not USA; Final Epitaph.

Gaming the Reaction

I have no particular insights into what ECB president Mario Draghi will say tomorrow. Yet, I suspect he will attempt some surprise move. Surprise moves seem to be the central bank move of the day.

Regardless, whatever the ECB does, those in Germany will say he did too much. Keynesian and Monetarist clowns will howl he did too little, especially if the initial reaction is bad.

Central Bank Impotence

Here's the deal: Like president Obama, the ECB is impotent. Both bark at the moon. They only thing the ECB can do is make matters worse. Obama cannot do anything at all.

If the initial reaction from Draghi's announcement is good (something I highly doubt), it will die soon enough.

Central bank credibility is blowing up in smoke left and right. It started with "Rabbit Hole Intervention" by the Swiss National Bank. (See Wild Moves in Swiss Franc as Switzerland Abandons Euro Peg; Morals of the Story).

Credibility declined more with the announcement Denmark Announces Currency Peg is "Secure".

Central bank credibility took another plunge today with the surprise rate cut by the Canadian Central Bank. Here's my take: Canadian Recession Coming Up: Yield Curve Inverts Following Unexpected Rate Cut; Loonie at Six-Year Low.

Transparency?

Fancy that. Multiple central bank shocking announcements in short order. What happened to the alleged increase in central bank transparency?

Looking Ahead

Later this year, the Fed is supposed to hike rates. 100% of economists expect just that!

Well, what if the Fed does not hike? Or what if the Fed does not hike as much as the market expects? And what will gold do if that happens?

That's a lot of "what ifs", but since when have 100% of economists ever been right?

Mike "Mish" Shedlock
Read more at http://globaleconomicanalysis.blogspot.com/#olEDr3rvbAo5phgE.99

 

[Comshaw]

The Democrat economic recovery plan:


http://reason.com/blog/2015/01/21/democratic-billioniare-jeff-greene-tells
http://www.bloomberg.com/news/print...-long-on-u-s-while-bemoaning-jobs-crisis.html

You do with less.

There is going to be no opportunity to grow the pie, so everyone gets smaller pieces.

It is the way things work in a Social Welfare State because Social Justice does not come cheap, nor does it ever come at all...

So a guy who made billions screwing everyone else is telling everyone else they need to tighten their belt so he can keep the billions he made screwing them? And you really think this has ANYTHING to do with political affiliations, other then the fact they can use it to their advantage? And you are absolutely sure those on the Democrat side are responsible for this whole mess?

Really?

Really really?

I'd say there are a whole lot of gullible people manning both sides. Just keep your eyes closed tight and yell about those with opposing view points while these kinda' people laugh all the way to the Swiss bank.

http://cdn.static-economist.com/sites/default/files/20111029_WOC689.gif



Comshaw

 

[4est_4est_Gump]

He made his billions by betting against the risky paper created by Zandi and the other bankers during the housing bubble...

 

[contrifan32]

Somebody has to be the adult, Chief.

But.. but .. but... I thought "elections have consequences." Didn't you bring that up 2 years ago?

 

[Cucumber_lover]

#RWCJ

 

[4est_4est_Gump]

#playerpiano

 

[RobDownSouth]

But.. but .. but... I thought "elections have consequences." Didn't you bring that up 2 years ago?

I certainly did.

Got enough votes to override a presidential veto?

You do not.

Ergo, compromise or gridlock.

I suspect that Republicans will choose the latter.