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Everything posted by GG
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Rex Ryan in mid season form, “This is the most talent laden Jets team since the Super Bowl”
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Pro football talk hates Buffalo - CBA and stadium funding
GG replied to The 9 Isles's topic in The Stadium Wall Archives
I'll put in a good word -
My names is GG and I approve this message.
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If he's going down, may as well bring the world with him. Whoda guessed that he's a vindictive type?
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Ben Shapiro was on point on the issue. Most people see things as you described, but that's not how Trump has been spinning it. This is the first week that he's acknowledged that the US consumers would bear the brunt of his trade policies.
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I'll stick to using football analogies It's like saying I'll take any quarterback for my team, as long as his name is Tom Brady, Aaron Rodgers or Drew Brees. You haven't addressed the fundamental reason WHY countries are different and why the markets use different standards for the countries. The entire point of countries' inability to issue debt in its currency is the lack of investor acceptance of its paper. That's why MMT is a cockamaimie theory, because it self-selects countries that are the reference currencies. MMT doesn't address the situation if those currencies fall out of investors' favor. It's like designing mortgage backed securities with the assumption that real estate values across the entire US would not fall more than 10%. Just because it's rarely happened before, doesn't mean the probability is zero. MMT simply ignores that inconvenience. If MMT was true, Argentina would simply issue more pesos, just like Mexico had to issue more pesos and devalued its currency in the '90s. Do MMT proponents put George Soros's gambit against BOE into the deep memory banks? How could one investment fund bring a developed country's central bank to its knees? Again with the supposition that deficits promote faster growth. Yeah, it's not the private sector left to its own devices, but government running a deficit that's responsible. It's like saying that the Bills defense promotes other teams to score points. And you still haven't explained (or admitted) the root cause of why second & third world countries lack access to capital. Hint, what's consistent across the reference currency countries? Why is Yen free floating, but Yuan is pegged, despite having a larger economy? As always, you have cause and effect reversed. Yes, some day!! You cannot outrun fundamentals. Japan's finances will be in deep ***** if China takes a more capitalist turn. That's why conservatives are arguing the technical merits of loose policy and leftists are pointing to past history as if it's destined to continue indefinitely. At some point even Tom Brady will get old. What can possibly go wrong when you nationalize private enterprises worth trillions? Let's try an experiment of forcing a national economic plan from a central government. And because short-term thinking of corporate boards is bad for the workers, let's put in rolling 5-year plans!! Forward!
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Just by chance, was the maneuver near Guam?
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Of course not all countries are the same, but you still failed to provide a coherent explanation of why the countries are not the same, other than a throwaway line about developed countries having sophisticated financial markets. You have the cause and effect reversed, which is expected from a belief that government "deficit spending" creates vibrant economic growth. So we're treated to a dissertation of arcane Fed accounting as if it's the reason that US$ is the global reserve currency and the Treasury is the reference zero-risk investment. In reality, it's the longstanding adherence to the rule of law, protection of private interests and freedom from government interferences that creates the foundation for those sophisticated financial markets to survive and continue to attract investors from around the world. It's not an accident that all other countries that serve as currency benchmarks exhibit the same layers of investor protection. The only reason that MMT can work is under the assumption that the US$ will continue to be the dominant global economic leader and the explosion of US national debt will be sustainable because other currencies and national debts will always be an inferior investment. That is a stupid basis for a monetary theory. For the theory to be proven, it has to be replicable in other situations. You can't cherry pick the results of the best economies and call it a theory. If the theory doesn't work for other sovereigns that issue currency and debt, then there's a flaw in the theory, because you're only selecting the countries where MMT works. In reality, it's not MMT that's working, but investors' appetite for those countries' debt and currency. Just because Japan is getting away with insane debt/GDP ratios now doesn't mean it's sustainable over generations. Somebody, at some point will have to pay the bill. If China ever loses the Communist yoke, you can kiss Japan's days as the Asian bellwether goodbye. Funny how the biggest MMT proponents on the campaign trail will be the first ones to strip away the foundations of the US private economy.
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So it's a bull#### theory. It basically says that if you're blessed to be a reserve currency you can issue unlimited debt. It assumes that the markets will continue to accept your currency as the global standard forever. Like a vote of confidence to Bank of England in 1910.
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Yes, technical details similar to 2 guys being QBs, wearing a helmet, receiving a snap, and dropping back to pass the ball. The technical details are identical. The execution, not so much. If the theory was correct, it would apply equally to USA as it would to Argentina.
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In short, MMT'ers are morons. They have cause & effect backwards. It's like saying that you should expect the same results from Nate Peterman as you would from Tom Brady because they're both called Quarterbacks. (For DC Tom's request that we discuss QBs)
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Jimmy Spags Smack Talk Thread Week 1
GG replied to EmotionallyUnstable's topic in The Stadium Wall Archives
I think he was the unnamed inmate at MCC last week. -
Opener (at NYJ) - Gauging interest in going as a group?
GG replied to Captain Caveman's topic in The Stadium Wall Archives
I'm a bit weary in buying tickets from other sites after my experience at New Era last year. I know it's a low probability, but there are people who double book their tix on the sites. -
Opener (at NYJ) - Gauging interest in going as a group?
GG replied to Captain Caveman's topic in The Stadium Wall Archives
Giants suck more, but tix are twice as much as for the Jets. Plus, Giants scam you with bigger Ticketmaster fees. We bought 16 for that game and got soaked with $320 in fees. Couldn’t buy tix at the box office either. Only Ticketmaster this year. -
Trump Wants To Regulate Google
GG replied to Trump_is_Mentally_fit's topic in Politics, Polls, and Pundits
Was just a matter of time. Anyone who’s set foot in any tech university knows they’re hardly a bastion of liberalism. Someone probably got fed up. -
The Media's Portrayal of Trump and His Presidency
GG replied to Nanker's topic in Politics, Polls, and Pundits
Comments are better than the story -
Rishard Matthews and the modern NFL player
GG replied to Mr. WEO's topic in The Stadium Wall Archives
All this does is prove that Terry Robiskie was right. -
CCP (oligarchs) needs an open HK to do business. Nobody wants the US and UK remove HK's special designation, which can be done without a single fired shot. It won't be pretty, but military won't be needed (at first)
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Rishard Matthews and the modern NFL player
GG replied to Mr. WEO's topic in The Stadium Wall Archives
Don't misuse revenues with profits. Players get the share of topline revenues. Owners get a bigger share of topline revenues, but they bear the full cost of franchise operations. The profit is nowhere near 52%. Many franchises are not profitable on a cash basis. Extrapolate his high school and college grades to real world earning potential.