bonddad

bonddad https://www.dailykos.com/news/bonddad News Community Action Copyright 2005 - Steal what you want Mon, 27 Jan 2020 02:04:10 +0000 Mon, 27 Jan 2020 02:04:10 +0000 Daily Kos rss@dailykos.com (Daily Kos) Daily Kos rss@dailykos.com (Daily Kos) The debt crisis isn't anywhere near over https://www.dailykos.com/story/2013/10/16/1247865/-The-debt-crisis-isn-t-anywhere-near-over In fact, it's just beginning. Those of us who have been around a while may remember Bonddad and New Deal Democrat. They started their own blog a while ago, and are now <a href="http://bonddad.blogspot.com/2013/10/live-blogging-default.html">live-blogging</a> the financial sector's reaction to the possible default. So far, we have this dire note: <blockquote><a href="http://www.marketwatch.com/story/t-bill-yields-spike-on-debt-ceiling-fears-2013-10-16">Marketwatch at 8:01 CDT:</a> "[C]learing banks are unwilling to finance paper that matures by the end of year, causing a fairly chaotic environment," said Thomas di Galoma, co-head of fixed-income rates trading at ED&F Man Capital Markets, in a note.</blockquote> What does this mean? Follow me over the Orange FSM..... rss@dailykos.com (maxomai) Banking bonddad Debt Ceiling DebtCeiling Economy newdealdemocrat _1247865 Wed, 16 Oct 2013 16:08:05 +0000 My response to Bonddad's Questions https://www.dailykos.com/story/2012/3/2/1070220/-My-response-to-Bonddad-s-Questions In a <a href="http://www.dailykos.com/story/2012/03/02/1070181/-Message-from-bonddad-Please-Stop-Writing-About-Economics">nice Diary currently on the rec list</a> a repost from Bonddad poses three questions that are supposedly insoluble by the liberal world view.  I agree that his questions for conservatives are insoluble, because they are pointing out that conservatism is based on falsehoods.  The questions for liberals, however, seems to me like it would be only insoluble to a strawman version of Liberalism. My answers below the Orange Hairball. rss@dailykos.com (bilge) bonddad Economics Economy Jobs Policy _1070220 Fri, 02 Mar 2012 19:46:01 +0000 Green Shooters versus Doom-and-Gloomers https://www.dailykos.com/story/2009/12/8/812083/-Green-Shooters-versus-Doom-and-Gloomers  Last week Bonddad posted a diatribe against the <a href="http://www.huffingtonpost.com/hale-stewart/why-hysteria-and-the-econ_b_373025.html">entire economic blogosphere</a>. <blockquote>  Reading blogs that in any way write about economics has generally become an exercise in utter futility. According to most good news is either propagated by corporate whores who are blind to the realities around them or presented without considering "all" the facts. All government statistics and all economists are wrong -- unless they support or present a bearish viewpoint. </blockquote>  Normally I wouldn't notice, but someone pointed it out to me and it got me thinking. How did we arrive at this point, where the bullish and bearish are drawn up against one another in much the same way that Democrats and Republicans in Congress are?   It occurred to me that perspective has everything to do with it. rss@dailykos.com (gjohnsit) bonddad Economics Economy _812083 Tue, 08 Dec 2009 23:27:04 +0000 Pollyanna vindicated. https://www.dailykos.com/story/2009/8/6/763027/-Pollyanna-vindicated My employer had not gotten back to me about whether my services would be required after August 15.  My lease was set to expire on July 31:  it was either sign the lease and risk a $1200 penalty for breaking it should the job not come through, or move back in with my mother.  To confound matters, I had a master's thesis to deposit on the 30th and it was coming back with little format changes, the latest just four hours before the deposit appointment. Read further to see how one Pollyanna was vindicated this week, and his arguments.   UPDATE:  Unemployment down in July.  U3 dropped from 9.5% to 9.4%.  U6 dropped from 16.5% to 16.3%.   rss@dailykos.com (Yamaneko2) Barack Obama BarackObama BobSwern bonddad Economy Education Pollyanna Unemployment _763027 Fri, 07 Aug 2009 06:35:15 +0000 Let's Bully Bonddad! [update: Bonddad speaks!] https://www.dailykos.com/story/2009/6/9/736145/-Let-s-Bully-Bonddad-update-Bonddad-speaks Bonddad's been hanging around this site nearly as long as I have.  Longtime Kossacks know and respect him, and <a href="http://www.dailykos.com/story/2009/3/17/709521/-Reading-Dkos-and-Bonddad-saved-us!-(updated)">following his advice has saved at least one Kossack a lot of financial pain.</a> You would think that someone like this wouldn't be treated like utter trash lately.  Yet, in his diaries of the past few months, <a href="http://www.dailykos.com/story/2009/5/11/171552/949">that's what's been happening</a>.    More after the jump.  (And yes, I've told him that I was going to do a diary about him, so he's cool with me doing it.) rss@dailykos.com (Phoenix Woman) bonddad Economy Meta ohwellIwasntusingmyTUstatusanyway Recommended _736145 Tue, 09 Jun 2009 13:46:06 +0000 New, Improved Spin! (A "Recovery" w/20% Jobless?) https://www.dailykos.com/story/2009/5/17/732650/-New-Improved-Spin-A-Recovery-w-20-Jobless It's been an interesting week for spin, contradictions, media gaffes and missteps relating to our economy and all matters dovetailing with it.  One could say that efforts to obfuscate our economic reality have reached a tipping point, where the facts are just overwhelming the spin. Earlier today, I read Bonddad's excellent diary (and, yes, I've been pretty tough on the guy of late): <a href="http://www.dailykos.com/story/2009/5/17/10411/2325">Do We Need Another WPA?</a> But, then I thought to myself, how can the term "recovery" be used in an environment that would tolerate a 20% (US Labor Dept's BLS' U.6 Index) unemployment rate, five points worse than where we were at in 1939? It just doesn't make sense. It's a veritable contradiction in terms. That's not a "recovery!" rss@dailykos.com (bobswern) AmbroseEvans-Pritchard BenBernanke bonddad consumerconfidence consumersentiment Depression Economy Employment FederalReserve FlagstarBank GDP GreatRecession GrossDomesticProduct HealthCare Jobless JohnWilliams larrysummers MichaelPatterson MillennialDepression Naked Capitalism NakedCapitalism NakedCapitalism.com NYFederalReserveBranch PaulVolcker Recession Shadow Stats ShadowStats shadowstats.com TARP TimGeithner TroubledAssetReliefProgram Unemployment WPA Zero Hedge ZeroHedge zerohedge.blogspot.com _732650 Mon, 18 May 2009 03:59:05 +0000 Call-outer, I got your good news right here https://www.dailykos.com/story/2009/5/12/730734/-Call-outer-I-got-your-good-news-right-here Since you attacked Meteor Blades for daring to call BS on investor class kossacks such as yourself and your irrational exuberance of late, I will call you out in return. Here's some GREAT news, news so great that in fact... well... it makes you look downright stupid for your nasty diatribe against MB.  This great news was and is evident to you:  banks are screwed if unemployment reaches the predicted 10%.  Here's why: <blockquote> Largely unnoticed in last week's government report on the condition of the nation's biggest banks was the disclosure that five of them, topped by Bank of America, could lose $99 billion from the kinds of exotic bets that sank the global economy. [snip] The banks' financial reports to regulators for the quarter ending March 31 also tell a potentially ominous story about their holdings of derivatives, instruments whose value is tied to an underlying asset, such as a pool of subprime mortgages. Seventeen of the 19 largest banks reported that, in the event of an economic catastrophe, they face combined derivatives losses exceeding $568 billion. </blockquote> <a href="http://www.mcclatchydc.com/227/story/68039.html">http://www.mcclatchydc.com/...</a> rss@dailykos.com (a gnostic) bonddad Economy McClatchy Meta Meteor Blades MeteorBlades _730734 Tue, 12 May 2009 23:56:37 +0000 Dr. Doom Agrees W/ Bonddad on Economy https://www.dailykos.com/story/2009/5/11/730432/-Dr-Doom-Agrees-W-Bonddad-on-Economy Now that <a href="http://bonddad.dailykos.com/storyonly/2009/5/11/714022/-BREAKING:-Daily-Kos-Bans-Good-Economic-News">Bonddad</a> is <a href="http://www.dailykos.com/comments/2009/5/11/171552/949/247#c247">the newest Unperson here at Daily Kos</a> (Oh noes! A financial expert daring to say that Obama isn't evil for not nationalizing everything in sight!), I'd like to point out that none other than Nouriel Roubini -- the famed "Dr. Doom" noted for his extreme pessimism -- agrees with him that the economic picture is not utterly black, and that Obama and his people have done some good moves.  More across the jump (assuming I haven't been TRed or 'banned' yet -- that's a joke, and I hope it remains one)... rss@dailykos.com (Phoenix Woman) bonddad doomdoooomDOOOOOOMMwahahahahahaha Economy lord of the flies lordoftheflies nourielroubini Recession Recommended _730432 Tue, 12 May 2009 04:20:36 +0000 My Question https://www.dailykos.com/story/2009/3/23/712221/-My-Question I am an Obama supporter. I hope you’ll hear me out. I wrote the following in a comment the other day: <blockquote> I believe: <ol><li value="1"> Obama cares about people.</li></ol> <ol><li value="2"> Obama is very, very smart.</li></ol> <ol><li value="3"> Obama has good judgment.</li></ol> I do not believe: <ol><li value="1"> Obama is a witting or unwitting tool of the Corporatists.</li></ol> <ol><li value="2"> Geithner and Summers are the root of all evil.</li></ol> <ol><li value="3"> Obama is infallible.</li></ol> </blockquote> As far as what is the best course of action to take on the financial crisis, I have no idea. I have read most of the economists regularly cited here, and today, typically, <a href="http://www.dailykos.com/storyonly/2009/3/23/712012/-Sigh...-the-biggest-problem-is-not-(toxic)-bank-assets">Jerome a Paris</a> and <a href="http://www.dailykos.com/storyonly/2009/3/23/711975/-The-Geithner-Plan">bonddad</a> both have recommended diaries with contrary views of Geithner’s Public/Private Plan. Both argue well--with reason and facts and credibility to back their views. I respect and admire both, but I have no friggin’ clue who is right. But I do believe I know what’s not right. More below the crease. rss@dailykos.com (Dragon5616) Barack Obama BarackObama bonddad Economic Crisis EconomicCrisis Economy Financial Crisis financialcrisis jeromeaparis LawrenceSummers Timothy Geithner TimothyGeithner _712221 Tue, 24 Mar 2009 00:46:29 +0000 Coming up, Toxic Shock or Taking Action? https://www.dailykos.com/story/2009/3/22/711557/-Coming-up-Toxic-Shock-or-Taking-Action Bonddad’s diary today is good as usual.  Some comments were incredibly good too, especially one by dnta: “let's try to keep the goals in mind: First, prevent further deterioration of the economy . . .  The risk of yet greater, more traumatic meltdown is still very high.  Second, mitigate the most painful and inequitable impacts of the crisis that is upon us.  Third, lay the groundwork for longer-term recovery and growth.  Fourth, restructure and repair those aspects of our economic and regulatory policies that helped put us in this situation.  And Fifth, identify and root out the most egregious offenders, both individuals and institutions, who contributed to and exacerbated the crisis.  All are important, but they should proceed in roughly that order of priority.” Unfortunately, we can’t achieve the third without doing the fourth, nor mitigate inequitable impacts if the financial situation worsens significantly.  We urgently need international financial regulatory reform to prevent things getting beyond rescue.  The opportunity to start repairs comes 2 April, with the G-20 meeting.   If we don’t succeed in making progress then and there, the likelihood of global economic collapse will skyrocket. rss@dailykos.com (monkeybrainpolitics) bonddad Crisis Depression Economy Geithner JÃ©rÃ´me kos Reform _711557 Sun, 22 Mar 2009 08:02:59 +0000 Reading Dkos and Bonddad saved us! (updated) https://www.dailykos.com/story/2009/3/17/709521/-Reading-Dkos-and-Bonddad-saved-us-updated It was 2 years ago.  The lead up to the election was in full swing.  Things were starting to heat up.  I was an avid reader of Daily Kos and disgusted critic of the Bush debacle.  One day I started reading a blogger on dK called Bonddad.  He had some pretty gloom and doom things to say.  Mortgages resetting.  Foreclosures coming.  Banks  going under. Who was this guy?  I never read any thing like what he was saying anywhere else.  I followed links, looked things over and tried to understand.  Economics isn't my forte by any means but I'm interested. After reading several of his diaries and checking out his links, I decided to leave Wells Fargo and move to my local credit union.  That took some doing as we had 4 accounts.  At a credit union, we had to have 7 accounts because each account required a "share account".  But despite the hassle, I felt good about joining a "coop" of my neighbors that lent locally in my hometown.   Then late one night, I read one of Bonddad's insightful and frightening analyses of what was coming down the pike.  It sent a bolt of energy  through me.  More after the flip.   rss@dailykos.com (kbee214) bonddad Daily Kos DailyKos DKos economicmeltdown IRAs Recommended Stock Market StockMarket _709521 Tue, 17 Mar 2009 13:28:47 +0000 No, Prager is NOT Advocating Marital Rape https://www.dailykos.com/story/2008/12/26/677398/-No-Prager-is-NOT-Advocating-Marital-Rape I admire and respect bonddad tremendously for his prescience and insight into financial matters. I loathe and despise Dennis Prager for his neanderthal-like conservatism. So it is odd for me to find myself saying what I'm about to say: Prager did NOT endorse, advocate, defend, support or justify "marital rape". I forced myself to read Prager's entire <a href="http://townhall.com/columnists/DennisPrager/2008/12/23/when_a_woman_isnt_in_the_mood_part_i">column</a>, and in all honesty I saw nothing that would justify such an accusation on <a href="http://www.dailykos.com/storyonly/2008/12/26/81852/401/40/677292">bonddad's</a> part. Please allow me to explain. rss@dailykos.com (Yosef 52) bonddad DennisPrager male-femalerelations nomeansno Rape Recommended SexualAssault _677398 Fri, 26 Dec 2008 21:56:17 +0000 Arrrgghhh. More Palin Special Needs Pandering/Lies https://www.dailykos.com/story/2008/10/24/641167/-Arrrgghhh-More-Palin-Special-Needs-Pandering-Lies In what was billed as her first "Major Policy Speech", Governor Sarah Palin decided to play the pander and school voucher card as well as apparently baldly lie about Barack Obama's disability and tax policy... all in the same speech! <blockquote> she suggested that Obama would raise taxes on federal trusts designed to pay for medical and education costs for disabled children. </blockquote> <a href="http://firstread.msnbc.msn.com/archive/2008/10/24/1590106.aspx">http://firstread.msnbc.msn.com/...</a> Some information, a bit of outrage, and a shoutout to Bonddad for an expert ruling after the jump. rss@dailykos.com (Critical Dune) Autism bonddad Palin pander SpecialNeeds _641167 Fri, 24 Oct 2008 20:57:11 +0000 No Gym, No Dope = Success in a Depression? https://www.dailykos.com/story/2008/10/8/624564/--No-Gym-No-Dope-Success-in-a-Depression Worry, worry, worry, scared, worry, scared, scared,depressed, depression?  Not us.  We are the reality-based community, are we not. We do not believe in what Kos calls "Government by Dow." We make decisions based on cool reason, not emotion.  Well, mostly. Are we in Recession? Depression?  Mother of all Depressions? Bonddad reported today on signs of the times. We may  not be totally sure just what you call current reality, but looks like it might be time for what back in the day was called "belt tightening." A number of us may have seen tight times before, and have survived nicely, thank you. Why should this time be any different?   Some of us are facing retirement or are newly retired, and not sure of our future. Last night, during the debate, "that one"  predicted sacrifice will be required in the days ahead.   But wait, there is hope! An article in today's Village Voice gives us a prescription. rss@dailykos.com (divineorder) bonddad Change Contibutions Depression Elections LarryMcMurtry Move On MoveOn Obama Savings Sustainability VillageVoice Votecalling _624564 Thu, 09 Oct 2008 03:13:15 +0000 Should Obama use Signing Statements? https://www.dailykos.com/story/2008/10/5/620581/-Should-Obama-use-Signing-Statements Obama, Use Signing Statements ! ? After watching <a href="http://www.dailykos.com/storyonly/2008/10/4/11202/1652/240/619107">Darksyde's showing</a> of the spot-on funny/sad satire and commentary of The Daily Show yesterday, I stewed a little more about the bailout as I went to sleep last night. Then I woke up wide awake at 5:00 am here Sunday in old Santa Fe.  For one thing, it has rained off and on all night, which is great, but unusual.  But another reason I woke up, was I got to thinking, " What if Obama used signing statements to control the bailout giveaway?" Listening to the rain and my own angry thoughts,  I started getting excited.  "Hey, why couldn't he use signing statements to slice  the pork off that other huge welfare bill, passed week before last, with much less fanfare.  Thats right, the military industrial complex welfare bill!" Being a gemini, my mind then said: "Wake-up boy, you don't even like signing statements, whatchoo talkin about?" If elected, and I've put my money on that,  should a President Obama (sounds good, don't it! ) use signing statements to stop the last excesses of the Bush Administration and the Corporate Congress? rss@dailykos.com (divineorder) bonddad CorporateCongress MichaelMoore ObamaAdministration PentagonPropaganda SigningStatements _620581 Sun, 05 Oct 2008 12:46:55 +0000 Bonddad, mother, rice and beans https://www.dailykos.com/story/2008/10/3/619157/-Bonddad-mother-rice-and-beans So the bailout passed the house, against the vote of my fav Austin Representative, Lloyd Doggett.  Earlier this week Doggett likened this to the Vote to invade Iraq. If, in fact the sky is falling, what should Kossacks do to prepare? Run to the woods and hide?  Stockpile fuel and food?  Look for a second job in case this one fails? What are the economic indicators at present, what should we do? rss@dailykos.com (divineorder) Bailout Banks Biden bonddad CreditUnions Debates Doggett Economy Employment foodshortages JoeBiden Palin _619157 Fri, 03 Oct 2008 19:16:52 +0000 The Financial Crisis - three steps towards a solution. https://www.dailykos.com/story/2008/10/2/617574/-The-Financial-Crisis-three-steps-towards-a-solution From what I can see, I firmly agree with <a href="http://www.dailykos.com/story/2008/10/2/81140/9436/834/617496">Bonddad</a> that there are no easy solutions, and that nothing that has so far been proposed is a complete answer.  As with many problems, there are several easy, intuitive and quick to implement wrong answers, but a right answer is difficult to come up with because of the magnitude, complexity, and interconnected problems and crises making up the body of the issue. However, I believe that there is a possibility of a hybrid answer that may address portions of all of the weak areas in the current situation. NOTE:  Anywhere you see two asterisks (**), you may insert the words "In My Opinion". rss@dailykos.com (Laughing Vergil) Bailout bonddad Financial Crisis financialcrisis _617574 Thu, 02 Oct 2008 14:04:35 +0000 Prominent Kossack got it wrong on Fannie/Freddie when it counted https://www.dailykos.com/story/2008/9/22/606586/-Prominent-Kossack-got-it-wrong-on-Fannie-Freddie-when-it-counted In a recommended diary today, DailyKos resident economic expert bonddad says Hank Paulson is <a href="http://www.dailykos.com/story/2008/9/22/92222/4077/864/606279">"screwing the taxpayer"</a> with his latest plan, which is "one of the worst bills to ever be proposed", and that Paulson has been surprised by this crisis and that "everyone who is surprised by what happened over the last few weeks (which is damn well near everybody) should sit down and not even get involved in solving the current problem."  But the fact is that bonddad has not held himself to a similar standard as he has weighed in <a href="http://www.dailykos.com/story/2008/9/6/102748/4967/954/588916">several</a> <a href="http://www.dailykos.com/story/2008/9/7/132630/9059/818/590053">times</a> <a href="http://www.dailykos.com/story/2008/9/8/8743/84775/96/590775">recently</a> on the Fannie and Freddie bailouts and the greater financial crisis-- without referencing his misguided prior support for the status quo for Fannie Mae and Freddie Mac in 2005. rss@dailykos.com (skymutt) bonddad Economics Fannie Mae FannieMae Freddie Mac FreddieMac GSEReform _606586 Tue, 23 Sep 2008 01:16:03 +0000 Special Show Tomorrow on KTLK-AM1150 https://www.dailykos.com/story/2008/9/19/603910/-Special-Show-Tomorrow-on-KTLK-AM1150 As the financial catastrophe/meltdown accelerates, we've decided to make tomorrow's segments of "Econ 101"--the only business/market oriented feature on AM that DOESN'T try to sell you anything--into a two-fer. rss@dailykos.com (Johnny Wendell) Air America AirAmerica bonddad Economics JohnnyVenom JohnnyWendell MarketMeltdown paulsen progressivetalk _603910 Fri, 19 Sep 2008 18:44:26 +0000 Progressives: House 128/307, Senate 23/77 https://www.dailykos.com/story/2008/7/17/553024/-Progressives-House-128-307-Senate-23-77 Here is what those numbers mean: Right now we may be in a situation where winning is losing. Big time losing. During a disaster be it earthquake, hurricane or other, there is little or nothing you or anyone else can do except hang on, duck or hide. Economic disasters take years to develop and this one is just beginning. The stock market crashed in 1929, but it was not until 1933 that the full extent of the economic and consequent social disaster became clear to everyone but the most dogmatic conservatives. Progressives swept the 1932 elections and FDR and the Progressives could do just about anything they wanted to change America from a "top down" system of wealth is power to a "bottom up" system of people power. Democrats came to power at a time when proper government actions could actually make a difference, a big difference, for the future. Not so much today. Both the 128/23 numbers and the timing are against us. Today the financial meltdown is just beginning. Realistically there is actually nothing we can do to even slow down the developing economic disaster, much less turn things around. Do we really want to be in charge as this country pays the price for 30+ years of Republican top down worship of wealth and power? rss@dailykos.com (MikMouse) 2008 Barack Obama BarackObama bonddad CreditCrisis FISA House newdealdemocrat Senate _553024 Thu, 17 Jul 2008 17:45:17 +0000 Better ideas for our economy https://www.dailykos.com/story/2008/6/18/537843/-Better-ideas-for-our-economy This is a comment from the "<a href="http://www.dailykos.com/story/2008/6/18/8845/11050/286/537725">How to Transform the US From a Debt to an Equity Economy</a>" that I felt compelled to create a diary out of. I understand it is most likely well intentioned, but I have serious objections to many of the proposed solutions laid out in the above referenced diary.  For starters, "spread(ing) the pain out among as many people as possible" seems to disproportionately hurt the poorest people, since the current system is already squeezing them to death.  It would also signal the death knell on the working middle class.  Most workers are reliant upon federal government spending for their middle class existence.  I know my family would be stuck below middle class if it had not been for WIC, Medicaid, unemployment and FHA.  Those programs helped my family through difficult times, and helped us make the most of our good fortune.  Decrease spending without decreasing taxes would be a burden far too heavy to bear. rss@dailykos.com (Alfonso Nevarez) bonddad Economy Energy Environment equitable Justice _537843 Wed, 18 Jun 2008 16:26:37 +0000 Econ for Kossaks I: Justice and Reality https://www.dailykos.com/story/2008/6/18/534587/-Econ-for-Kossaks-I-Justice-and-Reality [Updated to clarify definition.] Economics is one of those subjects that people tend to make harder than it is.  We argue and talk past each other because we are using different definitions for key terms.  Or one side is talking micro-econ and the other macro.  This kind of confusion usually generates more heat than light. Yet the basic concepts of Economics are pretty simple.  Of course, there are some very complex topics, like monetary theory and Chicago vs. Austrian Schools.  But almost anyone can understand the foundational, core ideas of Economics just by thinking about his own life. More below. rss@dailykos.com (VA Classical Liberal) bonddad Dauphin Economics Policy therealcervantes _534587 Wed, 18 Jun 2008 20:55:23 +0000 Metropolis https://www.dailykos.com/story/2008/3/18/479115/-Metropolis First, thanks to bondad for trying to explain it, but, hell, medical school was TONS easier.  i still don't get it because the course that bushco is steering makes absolutely no sense to me. METROPOLIS, Fritz Lang's dystopian view of a  potential future.  <a href="http://en.wikipedia.org/wiki/Metropolis_(film)">http://en.wikipedia.org/...</a> is this where we are?  economically speaking?  the haves playing above and the rest of us slaving to keep it that way? i'm not at all smart when it comes to the economy.  in fact, most of it i'd rather not deal with, and, since i've been quite lucky, i've not really had to deal with the vagaries of the stock market or any other financial market for that matter.  the money has always been there for me, i have a wonderful investment counselor and she's always been able to keep myself and my husband on a very even keel when it comes to investment. rss@dailykos.com (labwitchy) Bailouts bonddad CityHall Economy FDR Finance FoundingFathers frizlang GreatDepression megacorps Metropolis Movie Revolution Slavery _479115 Tue, 18 Mar 2008 15:47:15 +0000 Alt-A Mortgages - The credit crisis is nowhere near over https://www.dailykos.com/story/2008/3/17/478772/-Alt-A-Mortgages-The-credit-crisis-is-nowhere-near-over Since last July, we've been treated to an unremitting series of massive subprime asset writeoffs by all of the major players in the American finance industry. As a result of the massive credit bubble and housing bubble, the two of which are closely intertwined, American financial institutions have lost virtually all credibility and <a href="http://www.slate.com/id/2186547">American financial managers are now the butt of jokes the world over</a> for their incompetence, their provinciality and most of all for their reckless greed. rss@dailykos.com (The Lighthouse Keeper) Alt-Amortgages BearStearns bonddad Subprimesecurities washingtonmutual _478772 Tue, 18 Mar 2008 00:45:17 +0000 Fantasy Historical Characters Blog v1.10 by Benj. Franklin https://www.dailykos.com/story/2008/3/15/477660/-Fantasy-Historical-Characters-Blog-v1-10-by-Benj-Franklin You all know that I do this from time to time, but I just thought that this was a pretty important topic.  Remember, I am not Dr. Franklin, and will, unless the circumstances are unusual, respond as myself.  For those of you who have not read before, one commenter was worried that I was losing my own identity.  Not the case!  More waiting for you. rss@dailykos.com (Translator) BenjaminFranklin BenjFranklin bonddad DocisanIdiot Economy jeromeaparis Rescued Specie _477660 Sun, 16 Mar 2008 01:28:48 +0000 Compensation, government bailouts, options and stupid bets https://www.dailykos.com/story/2008/2/15/457413/-Compensation-government-bailouts-options-and-stupid-bets I just posted a comment over on <a href="http://www.dailykos.com/story/2008/2/15/104248/854/318/457350">bonddad's latest diary.</a> Thinking about it made me realize there was a lot more to say about this matter. Government bailouts are, in financial terms, a free option game. For those who haven't played in the options market here is a little background. An option is a right but not an obligation to buy or sell. The option on the right to sell is a "put"; an option on the right to buy is a "call". The study of options in real life - as opposed to financial markets - is the study of real options. Real options are everywhere - the worst trader of real options in the world is the government. More below the fold: rss@dailykos.com (tjlord) Bailouts Banks bonddad Default Economics Money suckerbets _457413 Fri, 15 Feb 2008 17:27:05 +0000 A Trojan Horse brought to you by DailyKos https://www.dailykos.com/story/2008/2/4/449433/-A-Trojan-Horse-brought-to-you-by-DailyKos For the past few years, DailyKos is reportedly the most popularly read progressive political blog in the world. And on DailyKos, one "BondDad" has established a huge following for his posts on financial and economic matters, usually full of vivid graphs and concise explanations of events in the financial markets. Up until this past summer or autumn, "BondDad" presented his analysis from a perspective I fully agreed with: the U.S. economy was much weaker than it appeared to be because wages and earnings for the working and middle classes have stagnated since the 1970s, and a monstrous bubble of debt has been created to allow Americans to keep consuming despite their declining incomes. rss@dailykos.com (NBBooks) bonddad Deregulation Economics FederalReserve PaulVolcker WilliamGrieder _449433 Mon, 04 Feb 2008 15:10:28 +0000 2008: 'A Good Year For Iraq' IMF/UN https://www.dailykos.com/story/2008/1/16/438070/-2008-A-Good-Year-For-Iraq-IMF-UN <a href="http://www.bloomberg.com/apps/news?pid=20601087&sid=aNHyKqkpmtAs&refer=home">Tremors</a> indicate change in the political landscape; securing long-term sources of energy will be far more important to most voters November 2008 than any discussion of leaving Iraq. <blockquote> The S&P 500 lost 7.75, or 0.6 percent, to 1,373.2 and is down 6.5 percent in 2008, marking its worst-ever 11-day start to a year. The Dow Jones Industrial Average fell 34.95, or 0.3 percent, to 12,466.16. The Nasdaq Composite Index sank 23, or 1 percent, to 2,394.59. Asia's benchmark dropped to its lowest level since August and Europe's fell for the fifth time in six days, deepening a global sell-off that's wiped out $2.58 trillion in value this year. </blockquote> rss@dailykos.com (kidneystones) BBC Bloomberg bonddad elections 2008 elections2008 Energy IMF Iraq Oil Recession UN UnitedNations _438070 Thu, 17 Jan 2008 04:07:54 +0000 The Free Trade Myth: Why <blank> is wrong https://www.dailykos.com/story/2007/11/19/412574/-The-Free-Trade-Myth-Why-lt-blank-gt-is-wrong  Generally Bonddad is not someone I want to pick a fight with when it comes to the topic of economics. He's sharp, informed, and has a large following in DKos.  But <a href="http://www.dailykos.com/story/2007/11/19/72959/078">his diary today</a> simply wasn't up to his normal standards (notice the complete lack of charts and graphs), and requires a response.  For example, his main point is that America no longer has the industrial base to supply itself so it requires us to have free trade agreements with other 3rd world nations. He ignores the fact that America used to have that industrial base before we had those free trade agreements. Those agreements are the primary reason why our industrial base has been gutted. So by taking this to its logical conclusion, he's saying that we need more of the same medicine that is already poisoning this country. rss@dailykos.com (gjohnsit) bonddad Economics Economy FreeTrade Globalization History Recommended _412574 Mon, 19 Nov 2007 21:33:39 +0000 Free trade: you can't opt out. https://www.dailykos.com/story/2007/11/19/412437/-Free-trade-you-can-t-opt-out There is a brilliant diary up by bonddad on free trade but then his diaries are always good. Totally clearsighted and packed with info. I read some of the postings and it's clear far too many folks here have no grasp of the real situation although he explains it in excruciatiing detail. Along with technology, free trade is one of two engines that have lifted the world out of the dark ages. It has, and continues to, drag millions out of poverty. These luddites are tapping out anti free trade messages on cheap computers made probably in SE Asia. In fact the whole personal computing revolution would probably have required decades to unfold rather than the 5-10 years it actually took had there not been access to cheap computers courtesy of free trade.     rss@dailykos.com (otto vb vs) bonddad FreeTrade NAFTA _412437 Mon, 19 Nov 2007 15:34:44 +0000 Housing Market Tanks Nationwide https://www.dailykos.com/story/2007/9/5/380920/-Housing-Market-Tanks-Nationwide Let's skip the happy talk emanating from numerous quarters as a result of the recent stock market rally. Investors seem to think that because the Fed has stated that they're on the alert, and expect a Federal Funds rate cut at the September meeting, that we'll be able to ride out the recent turbulence in the market. <a href="http://www.marketwatch.com/news/story/july-pending-home-sales-index/story.aspx?guid=%7B0C7A07E0%2DD437%2D4B42%2D8FE2%2D45570D5F1145%7D">These people are standing on the beach waiting for the tidal wave to roll in.</a> rss@dailykos.com (The Lighthouse Keeper) bonddad Economy FederalReserve Housing Mortgages _380920 Wed, 05 Sep 2007 18:38:44 +0000 Housing Bubble Part II, III, IV, and so on https://www.dailykos.com/story/2007/6/28/351568/-Housing-Bubble-Part-II-III-IV-and-so-on When the Federal Reserve announces in a few minutes that there will be no change in the Prime Rate, the market will scrutinize their comments for any hint of which direction they are leaning. The market seems to be thinking that the Fed is biased toward more accomodation. Rates should head lower. And why not? Alan Greenspan directed the FOMC, through a less than subtle statement, that he wants to see the housing market gain another 5% of value. Even a small increase in the value of existing homes would pop the subprime bubble, slow down the number of foreclosures, and keep the economy humming. Anyone who has bought a home knows the value of housing exists in a circular logic, a) labor and materials b) interest rates, borrowing costs, and c) land. A change to any one demands a compensatory change in the value of the other two, to maintain equilibrium. When equilibrium is not the desired effect, the policy of restraining the effects of inflation on two of these, labor and materials, and land, while lowering interest rates, is the correct procedure to inflate the Housing Bubble. Get ready for Housing Bubble, Part II rss@dailykos.com (agent double o soul) bonddad Economy Housing Bubble HousingBubble JÃ©rÃ´me _351568 Thu, 28 Jun 2007 18:05:49 +0000 Why you should go to Yearlykos - illustrated! https://www.dailykos.com/story/2007/6/26/351047/-Why-you-should-go-to-Yearlykos-illustrated well, actually I can't answer that question for you.   But maybe I can entice you. If you go to yearlykos, you might get to meet all kinds of interesting people.   Some of them will be blog celebrities.  Some of them will be real celebrities.   You might be able to have your picture taken with them.  They might be able to have their pictures taken with you. Come along and see some examples of what I experienced in Las Vegas last year. WARNING - VERY PICTURE INTENSIVE rss@dailykos.com (teacherken) bonddad EmptyWheel GinaCooper Glenn Greenwald GlennGreenwald JaneHamsher JoeTrippi MajorDanby MarkosMoulitsas MaryscottOConnor MudcatSaunders MurrayWaas nyceve OrangeClouds115 Recommended WesleyClark Yearlykos2006 Yearlykos2007 _351047 Wed, 27 Jun 2007 05:22:58 +0000 Goodbye, PSOL! https://www.dailykos.com/story/2007/4/23/326652/-Goodbye-PSOL No, it isn't what you think. PSOL is Psychological Standard of Living. Bonddad seems to have annoyed many people on DKos with his diary about the inevitability of globalization, and the necessary corollary, a drop in the Psychological Standard of Living, as defined by the goods and services we think we need for our psychological comfort. More under the quilt (made in China)... rss@dailykos.com (ormondotvos) bonddad ConspicuousConsumption Economics Efficiency Globalization Rescued StandardofLiving Status _326652 Mon, 23 Apr 2007 19:12:34 +0000 We the people are financially irresponsible https://www.dailykos.com/story/2007/1/28/295703/-We-the-people-are-financially-irresponsible The Greek slave Aesop is credited with this: <blockquote> The Ants and the Grasshopper The Ants were spending a fine winter's day drying grain collected in the summertime. A Grasshopper, perishing with famine, passed by and earnestly begged for a little food. The Ants inquired of him, "Why did you not treasure up food during the summer?' He replied, "I had not leisure enough. I passed the days in singing." They then said in derision: "If you were foolish enough to sing all the summer, you must dance supperless to bed in the winter." </blockquote> Was Aesop a cruel and heartless right-winger? Or was he delivering an important message through the ages to middle-class Americans, who continue to take on record amounts of consumner debt? rss@dailykos.com (skymutt) Aesop bonddad Economy _295703 Sun, 28 Jan 2007 13:56:53 +0000 Hard Landing: Political Risk of Deficit Reduction https://www.dailykos.com/story/2006/12/27/284590/-Hard-Landing-Political-Risk-of-Deficit-Reduction This is a response to bonddad's diary about deficit reduction - which itself is essentially a repeat of one of his previous diaries opposing ideas used in a recent Paul Krugman column. (Links in extended.) I'm not questioning bonddad's facts, or his contention that failure to address the asymptotically climbing Federal debt threatens the health of US financial markets. But bonddad himself admits that he mostly leaves the political side alone. My suggestion is that Democrats who like the fiscal responsibility meme might get wrong-footed by economic events in the next 18 months. This COULD cost us the White House, and so we need a contingency plan for the coming recession. rss@dailykos.com (frenchman) 2008 elections 2008elections bonddad deficitreduction Democratic Party DemocraticParty EconomicPolicy PaulKrugman Recession _284590 Wed, 27 Dec 2006 19:00:23 +0000 Trade Deficit Scarier Than Gov't. Deficit https://www.dailykos.com/story/2006/12/27/284555/-Trade-Deficit-Scarier-Than-Gov-t-Deficit As everybody knows by now, <a href="http://select.nytimes.com/2006/12/22/opinion/22krugman.html?_r=1&hp&oref=login">Paul Krugman</a> favors paying more attention to social spending than cutting the Federal deficit.  Our fellow Kossack <a href="http://www.dailykos.com/storyonly/2006/12/27/73428/526">bonddad</a> (whose interest, as his name indicates, is in a healthy bond market) says that lowering the deficit must come before anything else. So who's right?  Thing is, both their arguments sound good to me, econo-peasant that I am.  But I favor Krugman's side of things, and luckily for me, my co-blogger Charles over at Mercury Rising was able to provide some justification -- economic, political and moral --  for my stance.   Besides, if we default, we can always ask Hugo Chavez to help prop up our currency.  (Just kidding!  Well, not really.) Charles' arguments are after the jump. rss@dailykos.com (Phoenix Woman) bonddad Deficit Democrats FederalDeficit George W. Bush GeorgeWBush PaulKrugman Republicans TradeDeficit _284555 Wed, 27 Dec 2006 17:07:14 +0000 Sociology vs. Economics https://www.dailykos.com/story/2006/12/23/283721/-Sociology-vs-Economics Diary edited and updated. See below. rss@dailykos.com (frenchman) bonddad deficitreduction Democratic Party DemocraticParty EconomicPolicy PaulKrugman _283721 Sat, 23 Dec 2006 16:55:38 +0000 Bonddad is flat out wrong about Krugman https://www.dailykos.com/story/2006/12/22/283431/-Bonddad-is-flat-out-wrong-about-Krugman This started off as a comment in <a href="http://www.dailykos.com/story/2006/12/22/83026/804">bonddad's diary about Paul Krugman</a>, which currently is on the rec list. I decided to turn it into a diary because I am more than a little flummoxed at how spectacularly bonddad has misread Krugman's editorial, and because I think bonddad has unintentionally misrepresented Krugman by failing to quote him in context. This is a major problem because folks reading bondad's diary are coming away with an incorrect perception of what Krugman says, and it may be difficult to read the actual editorial given that it is <a href="http://select.nytimes.com/2006/12/22/opinion/22krugman.html">behind the NYT subscription firewall</a>. rss@dailykos.com (taylormattd) bonddad PaulKrugman Recommended _283431 Fri, 22 Dec 2006 17:43:35 +0000 Robert Samuelson channels bonddad https://www.dailykos.com/story/2006/10/11/256104/-Robert-Samuelson-channels-bonddad "Weathervane" Samuelson wrote a column in todays Washington Post op-ed page.  <a href="http://www.washingtonpost.com/wp-dyn/content/article/2006/10/10/AR2006101001284.html">Home is Where the Worry Is</a>   I could swear I've read this somewhere before. <blockquote> We are at the endgame for housing. Until recently our national motto has been "In real estate we trust." Just last week the Census Bureau reported that median home prices after inflation rose 32 percent from 2000 to 2005. In some places, the gains were huge: 127 percent in San Diego, 110 percent in Los Angeles and 79 percent in New York. But real estate -- which has acted as a national piggy bank, with homeowners borrowing and spending against rising house prices -- no longer looks so trustworthy. On this, more than on falling oil prices or a record Dow, hangs the economy's immediate fate.</blockquote> rss@dailykos.com (Nina Katarina) bonddad Economics Housing Washington Post WashingtonPost _256104 Wed, 11 Oct 2006 12:12:02 +0000 Outbondadding bonddad : house market crash palooza https://www.dailykos.com/story/2006/10/3/252942/-Outbondadding-bonddad-house-market-crash-palooza You may have seen the <a href="http://www.nytimes.com/2006/10/03/nyregion/03census.html?_r=1&th&emc=th&oref=slogin">NYT article</a> on the affordability of housing in 2005: <blockquote> The burden of housing costs in nearly every part of the country grew sharply from 2000 to 2005, according to new Census Bureau data being made public today. The numbers vividly illustrate the impact, often distributed unevenly, of the crushing combination of escalating real estate prices and largely stagnant incomes. </blockquote> I have a few spectacular graphs to illustrate this and, more to the point, how this is about to change brutally, via graphs found in a study prepared by the French investment bank Société Générale (<a href="http://groupe.socgen.com/html/eco/FR/tele/themes/pays/f_synth.pdf">PDF</a>). First, the affordability index: <a href="http://www.eurotrib.com/files/3/061003_affordability_index.jpg"><img src="http://static.flickr.com/107/259669745_6551b1d504_o.jpg"></a> rss@dailykos.com (Jerome a Paris) bonddad Bubble Economy Housing Bubble HousingBubble RealEstate Recommended _252942 Tue, 03 Oct 2006 12:07:00 +0000 NY-29: Cheney's Tax Cuts, Deficit Enforcement https://www.dailykos.com/story/2006/9/20/248270/-NY-29-Cheney-s-Tax-Cuts-Deficit-Enforcement This is the eighth day of Cheney.  This is part of a "10 Days of Cheney" series, the purpose of which is to draw attention to Cheney's scandals and scandalous acts prior to his September 22 fundraiser for Eric Massa's opponent Randy Kuhl in NY-29. Today I want to talk about Dick Cheney's lies about tax cuts and deficits.  After the 2002 midterm elections, Dick Cheney, playing the role of the enforcer, said to Paul O'Neill, who was challenging the tax cuts, "Reagan proved deficits don't matter. We won the midterms. This is our due." (<a href="http://www.newyorker.com/talk/content/?040126ta_talk_cassidy">link</a>) Shortly thereafter, Cheney personally informed O'Neill that he was fired. rss@dailykos.com (mikepridmore) bonddad Dick Cheney DickCheney EricMassa NY-29 RandyKuhl _248270 Wed, 20 Sep 2006 22:17:50 +0000 Podcast: Bonddad Point Two, Low Wages https://www.dailykos.com/story/2006/8/30/241429/-Podcast-Bonddad-Point-Two-Low-Wages It's Wednesday on the Planet Earth. America hasn't had a raise in five years. Bondad explains the situation. Bonddad and I are going through the six points he's zeroed in on to explain his analysis of the state of the American economy. Each point is five minutes or less because Bonddad has been working on making the points succinct. The six areas are: (*) <a href="http://media.libsyn.com/media/myleftwing/FINAL-2006-08-12-bondad2-2o6.mp3">weak job growth</a> (*) <a href="http://media.libsyn.com/media/myleftwing/FINAL-2006-08-12-bondad2-2o6.mp3">low wages</a> (*) high consumer debt (*) the poor savings rate (*) high national debt (*) the large trade deficit This episode is Bonddad on Low Wages. <a href="http://media.libsyn.com/media/myleftwing/FINAL-2006-08-12-bondad2-2o6.mp3">Podcast Link</a>: Bonddad with Pyrrho, Bonddad's Economic Point 2 of 6 This is an <a href="http://www.myleftwing.com/showDiary.do?diaryId=11469">MLW podcast</a>. rss@dailykos.com (pyrrho) bonddad Economy Framing Strategy _241429 Wed, 30 Aug 2006 23:24:14 +0000 Podcast: Bonddad's Six Points on the Economy, Point One https://www.dailykos.com/story/2006/8/24/239719/-Podcast-Bonddad-s-Six-Points-on-the-Economy-Point-One Bondad talked to Py again on an <a href="http://www.myleftwing.com/showDiary.do?diaryId=11342">MLW Podcast</a>. Bonddad and I are going through the six points we covered in <a href="http://media.libsyn.com/media/myleftwing/MLW-20060406-bondad-final.m4a">a previous podcast</a>. The explanations are five minutes or less because Bonddad has been working hard for many months now to encapsulate these points for progressives to have as tools. The six areas are: (*) <a href="http://media.libsyn.com/media/myleftwing/FINAL-2006-08-12-bondad2-1o6.mp3">weak job growth</a> (*) low wages (*) high consumer debt (*) the poor savings rate (*) high national debt (*) the large trade deficit This episode is Bonddad on "Weak Job Growth". <a href="http://media.libsyn.com/media/myleftwing/FINAL-2006-08-12-bondad2-1o6.mp3">Podcast Link</a>: Bonddad with Pyrrho, Bonddad's Economic Point 1 of 6 rss@dailykos.com (pyrrho) bonddad Economics Meta _239719 Thu, 24 Aug 2006 21:00:36 +0000 Suck Up Economics I (emotional rhetoric for Bondad talking points) https://www.dailykos.com/story/2006/8/7/233991/-Suck-Up-Economics-I-emotional-rhetoric-for-Bondad-talking-points Suck Up Economics is the economic system that sucks the life energy out of, the middle class, working class, under class, and the environment, and into the hands of the corporate and economic elite.  The resources of the vast majority, and the environment that sustains us all, are sucked up and not replenished. All of this just to drive the percentage of wealth held by the economic elites higher. So the top goes up by sucking everyone else dry, while everyone else and our environment gets sucked down the drain. rss@dailykos.com (Bob Guyer) bonddad Economics Talking Points TalkingPoints _233991 Mon, 07 Aug 2006 14:10:24 +0000 TNR disses me and bonddad, proves it can't use Google https://www.dailykos.com/story/2006/7/27/231119/-TNR-disses-me-and-bonddad-proves-it-can-t-use-Google Apparently, folks, you're all poor bloggers struggling to survive financially, desperately seeking any possible financial scraps that can be gotten from off the DLC's table.  At least, that's what the <a href="http://www.tnr.com/doc.mhtml?i=20060807&s=edsall080706">The New Republic</a> says. In an <a href="http://www.tnr.com/doc.mhtml?i=20060807&s=edsall080706">uproarious piece today</a>, The New Republic has proved that not only can it not find its own ass with two hands behind its back, it also has apparently never heard of Google.  The article (which requires a free subscription to view) describes the battle between the DLC and the Progressive wing of the party, and Hillary Clinton and Howard Dean specifically.  In this battle, says TNR, it's a showdown between the liberals and the moderates:  rss@dailykos.com (thereisnospoon) bonddad Google Recommended TheNewRepublic thereisnospoon TNR _231119 Thu, 27 Jul 2006 20:30:27 +0000 Bush hoodwinked Wall St., How Inflation is good for TX Oil INC https://www.dailykos.com/story/2006/5/18/211464/-Bush-hoodwinked-Wall-St-How-Inflation-is-good-for-TX-Oil-INC As many have noted Bush's economic strategy has been to print large amounts of money debasing the US currency. In layman term he is borrowing large sums of money. Classical economics says this should result in inflation, which should hurt the stock market. Wall St. hasn't seen inflation, yet so even though the stock market has been flat during Bush's presidency they haven't turned against him. Unfortunately for Wall St. They have missed Bush's big monetary hoodwink. BUSH WANT HIGHER INFLATION BECAUSE IT HELPS HIS FRIENDS IN THE OIL AND NATURAL RECOURSE BUSINESSES AT THE EXPENSE OF THE STOCK MARKET rss@dailykos.com (dopper0189) bonddad Economics Energy George W. Bush GeorgeWBush Inflation jeromeaparis MonetaryPolicy Peak Oil PeakOil Poll _211464 Thu, 18 May 2006 19:36:39 +0000 Two Great Editorials https://www.dailykos.com/story/2006/4/11/201283/-Two-Great-Editorials Considering the schilling that the Washington Post has been doing for the Bush Administration in their editorials (and blogger hirings, and Bob Woodward), I thought I would share two great editorials from a newspaper that is one of the national leaders in liberal opinion pages.  Both editorials appear in today's edition. The <a href="http://www.startribune.com/561/story/363046.html">first</a> editorial touches on a subject <a href="http://www.dailykos.com/story/2006/3/20/102146/662">extensively covered</a> by <a href="http://www.dailykos.com/user/bonddad/diary">bonddad</a>: Higher education, and the associated debt. The <a href="http://www.startribune.com/561/story/363131.html">second</a> calls out the GOP on blatant "bread and circus" tactics: inefficient tax rebate just before the November elections. More below the fold. rss@dailykos.com (guyermo) bonddad Debt Editorial Education Republican Party RepublicanParty Star Tribune StarTribune Taxes _201283 Tue, 11 Apr 2006 16:33:50 +0000 Broder: Bends over for Bill Gates https://www.dailykos.com/story/2006/3/20/195476/-Broder-Bends-over-for-Bill-Gates OK, I know David Broder is the king of DC insider CW spin. But for chrissakes, do you think any of these pundits could just spend a little time doing their own research? rss@dailykos.com (SteveLCo) bonddad China Economy India _195476 Mon, 20 Mar 2006 13:38:28 +0000 Don't Trust the Economy, Stupid! https://www.dailykos.com/story/2006/2/9/185821/-Don-t-Trust-the-Economy-Stupid Bonddad's excellent recommended <a href="http://www.dailykos.com/story/2006/2/9/85619/25937">diary</a> today was an excellent reminder of the perils facing twenty-somethings and the American economy in general. However, there are a lot of misconceptions still out there about this issue, including and especially regarding college graduate employment figures.  As one commenter responded to bondad: <blockquote>College Grads Can't Find Jobs?  Can that be right?  The BLS tables show that the unemployment rate for college graduates currently is 2.1%...Unfortunately for many college graduates, it seems that the reading and writing standard English and speaking clearly requirements present insurmountable hurdles.  </blockquote> Unfortunately, there are many people (especially boomers) who carry this prejudice, and I feel it needs to be addressed. rss@dailykos.com (theKK) bonddad Boomers Economy Employment twentysomethings UnemploymentRate _185821 Thu, 09 Feb 2006 19:03:44 +0000