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David Dodd
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Corporate America Keeps Profits Strong, Jobs Weak
@ #20: Heh. Well, at its best, economics certainly is a science, I have to respectfully disagree with you. I am obviously leaving politics and ideology out of the discussion, because were that the case, then I think you would be right. And many economists certainly do include ideology in their work, so I can't blame you for your conclusion, but strictly studied and reported, economics is nothing more than a filtered study of data concerning commerce and trade and so on. When you draft economists into the government, then it's something that resembles prostitution, a different ballgame. Bernanke has been dead wrong every since he's been working in the public sector, undoubtedly influenced by the cabinet of the administration in power. The issue is that the public looks to economists for an answer when the economy is down, and the administration in power counts on that in order to maintain confidence. That's the wrong place to look. It's sort of like looking at a historian to predict the future when the present isn't going so swell. They don't necessarily have the answer either.
— September 8, 2010 12:35 p.m.
Spanos Really Wants L.A., Says Yahoo! Sports
"LOL...the county could not even pick up 5% of the tab." The county has nothing to gain from a new stadium. They will not contribute a cent to it.
— September 8, 2010 11:52 a.m.
Spanos Really Wants L.A., Says Yahoo! Sports
Re #12: Sort of interesting, and probably perfectly ironic, that a sport driven in part (in a LARGE part) by people who enjoy gambling on the outcome of the games would take such a strong stance against anyone owning a casino.
— September 8, 2010 11:14 a.m.
Corporate America Keeps Profits Strong, Jobs Weak
Re #12 - #18: First, I disagree that economists are up to no good and that economics isn't a science. Real, true economists don't do much predicting. They observe and often calculate based on known data. Whether or not this proves useful in any sort of speculation is left to investors and banks and Federal Reserves. Economists are a combination of historians and scientists, in a way. Good economists are very careful not to draw quick and easy conclusions. Regarding Japan, I'm not certain that Japan's off-loading of their electronics manufacturing had as much to do with their economic collapse as did their own housing bubble (as Don points out) and their own - often times more volatile than that of the U.S. - market strategies, where you had more money shorting the market to profit from a majority of investors who were invested long-term. The proof in the pudding might be that when Japan created their stimulus in response to the deflationary spiral they found themselves in, the money was specifically kept out of the market. In other words, they didn't simply increase the money supply, they sought to halt short-selling by keeping the money from investment and threw it directly at infrastructure. It didn't work. This isn't to say that it wasn't a sound idea, to keep the money away from the markets. However, empirically, I think it's easy to see that when what were once considered to be sound investments collapse under pressure from big money hedging against such investments, government involvement might be doomed in any case. Prop up the market, and you're inviting even more mischief from the upper 1% of wealth; keep the money out of the market, and the money may have no effect at all other than to (at some point) spark inflation.
— September 8, 2010 10:51 a.m.
Now Venter Wants to Create Algae That Could Replace Fossil Fuels
Petroleum based products, as I've been insisting here, aren't so necessary as they are economically desireable. Glass syringes, for example, work just fine. Hydrogen fuel is already a reality, it's simply too expensive to manufacture and too dangerous to develop at this point in time. Hence, the speculative. Maybe someone will invest a few hundred million into that issue. And speaking of speculation, lubricants might not be necessary in the future. There are many ways to combat friction. But as I say, pragmatically, fossil fuels are relevant NOW, and I don't see that changing for quite a few decades.
— September 7, 2010 9:58 p.m.
Now Venter Wants to Create Algae That Could Replace Fossil Fuels
@ #29: I'm not a "non-believer" in alternative energy, but as I've pointed out, in this type of forum I'm forced to be entirely pragmatic. You've echoed - slightly differntly than I did - sort of the same thing. Now, if I were to become speculative (and in economics that's sort of taboo), I would think that hydrogen would become the key to energy sources of the future. However, with 110 million dollars being thrown at algae, the most abundant element in the known universe seems to be taking a back seat. Weird, much?
— September 7, 2010 8:38 p.m.
Corporate America Keeps Profits Strong, Jobs Weak
"The nation has a crying need for infrastructure." I'm interested in how you mean this. Highways are funded from the last stimulus and ground hasn't even broken on those projects yet. Rail is a dying mode of transport for most commodities. Cities have libraries and services, where the State doesn't steal the money and spend it on other stuff. I understand how money was thrown at projects during the Great Depression, but I am unconvinced that WWII wasn't more responsible for pulling the U.S. out of that. In Japan in the late '90's, they threw all kinds of money at infrastructure, and neo-Keynesians have yet to explain why that didn't work out in Japan. Thoughts?
— September 7, 2010 8:02 p.m.
None
Come now, Jay, you must know by now that if the director's last name doesn't end with a vowel that Duncan's not likely to give the film much run ;) I loved the film for a lot of reasons, many the same as yourself. But Hoffman, he's brilliant. In film, actors that can allow the audience to see inside of the characters they are portraying, that's special. To some extent, Tom Hanks has that ability. So does Kevin Spacey. And Hoffman is a master at that. The writing in the Graduate was brilliant, and even if Hoffman stole every scene he was in (which might have made the movie something that both the writer and the director had never imagined it would become), it came together as one of those films that you think about for months afterward, even years.
— September 7, 2010 4:57 p.m.
Now Venter Wants to Create Algae That Could Replace Fossil Fuels
"You must be referring to the initial costs, because the nuclear waste storage and handling problems last for generations if not "lifetimes" and will increase the cost of Nuclear generation..." Actually, that's included according to my source which is a pro-nuclear energy site:
http://www.nucleartourist.com/basics/costs.htm
So, yes, there could be even more of a difference if they are leaving out information.
— September 7, 2010 4:39 p.m.
Spanos Really Wants L.A., Says Yahoo! Sports
Interesting, crys, I hadn't read that before. I will almost guarantee that Roski knows that the Spanos family won't give up majority ownership, so perhaps Roski is referring to that second team (I believe he wants two teams in that proposed stadium). Roski is a minority owner of the Kings and Lakers and that's all it took for him to finance Staples Center. Concerning your point about the casino holdings, I concur with all of it and have read as much. I still don't think the stadium is off of the table, and I guess we'll find out once the NFL resolves next year's labor dispute and the economy improves.
— September 7, 2010 3:28 p.m.
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Corporate America Keeps Profits Strong, Jobs Weak
@ #20: Heh. Well, at its best, economics certainly is a science, I have to respectfully disagree with you. I am obviously leaving politics and ideology out of the discussion, because were that the case, then I think you would be right. And many economists certainly do include ideology in their work, so I can't blame you for your conclusion, but strictly studied and reported, economics is nothing more than a filtered study of data concerning commerce and trade and so on. When you draft economists into the government, then it's something that resembles prostitution, a different ballgame. Bernanke has been dead wrong every since he's been working in the public sector, undoubtedly influenced by the cabinet of the administration in power. The issue is that the public looks to economists for an answer when the economy is down, and the administration in power counts on that in order to maintain confidence. That's the wrong place to look. It's sort of like looking at a historian to predict the future when the present isn't going so swell. They don't necessarily have the answer either.— September 8, 2010 12:35 p.m.
Spanos Really Wants L.A., Says Yahoo! Sports
"LOL...the county could not even pick up 5% of the tab." The county has nothing to gain from a new stadium. They will not contribute a cent to it.— September 8, 2010 11:52 a.m.
Spanos Really Wants L.A., Says Yahoo! Sports
Re #12: Sort of interesting, and probably perfectly ironic, that a sport driven in part (in a LARGE part) by people who enjoy gambling on the outcome of the games would take such a strong stance against anyone owning a casino.— September 8, 2010 11:14 a.m.
Corporate America Keeps Profits Strong, Jobs Weak
Re #12 - #18: First, I disagree that economists are up to no good and that economics isn't a science. Real, true economists don't do much predicting. They observe and often calculate based on known data. Whether or not this proves useful in any sort of speculation is left to investors and banks and Federal Reserves. Economists are a combination of historians and scientists, in a way. Good economists are very careful not to draw quick and easy conclusions. Regarding Japan, I'm not certain that Japan's off-loading of their electronics manufacturing had as much to do with their economic collapse as did their own housing bubble (as Don points out) and their own - often times more volatile than that of the U.S. - market strategies, where you had more money shorting the market to profit from a majority of investors who were invested long-term. The proof in the pudding might be that when Japan created their stimulus in response to the deflationary spiral they found themselves in, the money was specifically kept out of the market. In other words, they didn't simply increase the money supply, they sought to halt short-selling by keeping the money from investment and threw it directly at infrastructure. It didn't work. This isn't to say that it wasn't a sound idea, to keep the money away from the markets. However, empirically, I think it's easy to see that when what were once considered to be sound investments collapse under pressure from big money hedging against such investments, government involvement might be doomed in any case. Prop up the market, and you're inviting even more mischief from the upper 1% of wealth; keep the money out of the market, and the money may have no effect at all other than to (at some point) spark inflation.— September 8, 2010 10:51 a.m.
Now Venter Wants to Create Algae That Could Replace Fossil Fuels
Petroleum based products, as I've been insisting here, aren't so necessary as they are economically desireable. Glass syringes, for example, work just fine. Hydrogen fuel is already a reality, it's simply too expensive to manufacture and too dangerous to develop at this point in time. Hence, the speculative. Maybe someone will invest a few hundred million into that issue. And speaking of speculation, lubricants might not be necessary in the future. There are many ways to combat friction. But as I say, pragmatically, fossil fuels are relevant NOW, and I don't see that changing for quite a few decades.— September 7, 2010 9:58 p.m.
Now Venter Wants to Create Algae That Could Replace Fossil Fuels
@ #29: I'm not a "non-believer" in alternative energy, but as I've pointed out, in this type of forum I'm forced to be entirely pragmatic. You've echoed - slightly differntly than I did - sort of the same thing. Now, if I were to become speculative (and in economics that's sort of taboo), I would think that hydrogen would become the key to energy sources of the future. However, with 110 million dollars being thrown at algae, the most abundant element in the known universe seems to be taking a back seat. Weird, much?— September 7, 2010 8:38 p.m.
Corporate America Keeps Profits Strong, Jobs Weak
"The nation has a crying need for infrastructure." I'm interested in how you mean this. Highways are funded from the last stimulus and ground hasn't even broken on those projects yet. Rail is a dying mode of transport for most commodities. Cities have libraries and services, where the State doesn't steal the money and spend it on other stuff. I understand how money was thrown at projects during the Great Depression, but I am unconvinced that WWII wasn't more responsible for pulling the U.S. out of that. In Japan in the late '90's, they threw all kinds of money at infrastructure, and neo-Keynesians have yet to explain why that didn't work out in Japan. Thoughts?— September 7, 2010 8:02 p.m.
None
Come now, Jay, you must know by now that if the director's last name doesn't end with a vowel that Duncan's not likely to give the film much run ;) I loved the film for a lot of reasons, many the same as yourself. But Hoffman, he's brilliant. In film, actors that can allow the audience to see inside of the characters they are portraying, that's special. To some extent, Tom Hanks has that ability. So does Kevin Spacey. And Hoffman is a master at that. The writing in the Graduate was brilliant, and even if Hoffman stole every scene he was in (which might have made the movie something that both the writer and the director had never imagined it would become), it came together as one of those films that you think about for months afterward, even years.— September 7, 2010 4:57 p.m.
Now Venter Wants to Create Algae That Could Replace Fossil Fuels
"You must be referring to the initial costs, because the nuclear waste storage and handling problems last for generations if not "lifetimes" and will increase the cost of Nuclear generation..." Actually, that's included according to my source which is a pro-nuclear energy site: http://www.nucleartourist.com/basics/costs.htm So, yes, there could be even more of a difference if they are leaving out information.— September 7, 2010 4:39 p.m.
Spanos Really Wants L.A., Says Yahoo! Sports
Interesting, crys, I hadn't read that before. I will almost guarantee that Roski knows that the Spanos family won't give up majority ownership, so perhaps Roski is referring to that second team (I believe he wants two teams in that proposed stadium). Roski is a minority owner of the Kings and Lakers and that's all it took for him to finance Staples Center. Concerning your point about the casino holdings, I concur with all of it and have read as much. I still don't think the stadium is off of the table, and I guess we'll find out once the NFL resolves next year's labor dispute and the economy improves.— September 7, 2010 3:28 p.m.