San Francisco voters pass 'Overpaid Executive Tax'

Not unless they try to spend it. They won't be trying to buy millions of blenders or Toyotas.

Oh, it will crash hard, and that will as usual blindside all the economists. Let's hope President Harris gets the blame.

The real reason that stocks are so inflated is that savings have a zero or effective negative interest rate, which drives all that money into stocks. Quantitative Easing did that deliberately. It won't end well.

They might not spend it, but their fellow share holders will. They are driving up wealth of other share holders who will spend eventually. Real Estate and Stock asset inflation will work into real inflation.

Same thing. So much liquidities into financial assets to drive down interest rates. Net effect is lower purchasing power or just inflation.

On Tuesday, 26 January 2021 at 14:09:09 UTC-8, John Larkin wrote: ...

...

Banks don't keep your money in cash - they lend it or buy Treasury or corporate bonds.

So it is in the money supply.

Similarly if stocks are purchased, it merely transfers to somebody else whether that is the stock seller, the company who issues the stock or goes to the stockbroker as transaction fees. There is no money as such in the stock market.

The weird thing about it is that polar bears don't live in Australia. Everybody knows the wildlife there is out to get you.

Cheers

Phil Hobbs

oodness San Francisco has found the answer:

h are deeply strained from the consequences of inequality. We will hire nur ses, social workers and emergency responders, and expand access and treatme nt.?

Also known as the "Don't let the door slam you in the butt on the way out" tax.

thank goodness San Francisco has found the answer:

s, which are deeply strained from the consequences of inequality. We will h ire nurses, social workers and emergency responders, and expand access and treatment.?

jet, anyone?). Local politicians don't understand finance.

crippled in the same way. He's wrong. We don't understand every last detail , but we do understand well enough to make useful interventions.

erman Act since 1890 to discourage this tendency.

ense, and more advanced courses make progressively less.

erstand, and hasn't got the idea that if he worked harder on understanding the basics he'd be better place to understand the rest of the content.

Hey SL0WMAN, yeah that's why economic crashes, droughts and floods NEVER oc cur!

All the economists except Ed Lee? Some people did make money out of the global financial crisis. There's a simple way to detect a bubble - all your acquaintances will start telling you that you ought to invest in it.

It's always tempting to blame whoever was in power at the time. It takes a real idiot to blame somebody who isn't even in power yet.

Neither did the Great Depression. If the Great Recession hadn't put Donald Trump into the White House. it would have looked like an unqualified success in comparison. Right wing nit-wits really hate Keynesian pump-priming, and they are entirely unwilling to see that it works. It's not without side-effects, but the cure is a whole lot better than the disease.

e:

l thank goodness San Francisco has found the answer:

ems, which are deeply strained from the consequences of inequality. We will hire nurses, social workers and emergency responders, and expand access an d treatment.?

ee jet, anyone?). Local politicians don't understand finance.

s crippled in the same way. He's wrong. We don't understand every last deta il, but we do understand well enough to make useful interventions.

Sherman Act since 1890 to discourage this tendency.

sense, and more advanced courses make progressively less.

nderstand, and hasn't got the idea that if he worked harder on understandin g the basics he'd be better place to understand the rest of the content.

Flyguy is an idiot, and never loses an opportunity to remind us of this wel l-known fact.

If John Larkin did understand why economic crashes, droughts and floods occ urred they'd still keep on happening. Of course people who were better ed ucated than John Larkin might then know enough to have some idea when they were going to happen and might be able to anticipate their effects and make them less damaging, despite the carping of people like Flyguy who would co mplain bitterly about money being spent on solving non-existent problems, r ight up until the moment that the problem became obvious enough for even th em to notice - like flood water up to their neck.

At least the bears have an excuse: they are hungry.

Hey SL0WMAN, the Great Recession that put Trump into the White House - it was Obummer's totally incompetent response to it that did.

Yeah, right wing nit-wits like Nobel Prize winner Milton Friedman.

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ell thank goodness San Francisco has found the answer:

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ation. Wondering why the stock market is in all time high, with the economy in the toilet?

global financial crisis. There's a simple way to detect a bubble - all you r acquaintances will start telling you that you ought to invest in it.

s a real idiot to blame somebody who isn't even in power yet.

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ain, bailout money is driving stock market to all time high.

ald Trump into the White House. it would have looked like an unqualified su ccess in comparison.

tirely unwilling to see that it works. It's not without side-effects, but t he cure is a whole lot better than the disease.

s totally incompetent response to it that did.

A much less incompetent response than Hoover's. Once the Republicans got a majority in Congress,they concentrated on directing all the pump-priming m oney into the pockets of Republican voters (who couldn't be relied on to sp end all of it). That was incompetent, but Obama got blamed for it.

Pretty much the kind of nit-wit I had in mind. The Nobel Prize for Economic s isn't awarded by the same kind of committee that deals out the other Nobe l Prizes, and endorsing the kind of nonsense that appeals to billionaires c an win you a Nobel Prize for Economics.

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Try reading

It's probably way over your head, but Milton Friedman isn't seen as in any way admirable. Sticking to a theory because it is mathematically tractable when it doesn't predict anything useful isn't the kind of error that should get you a Nobel Prize

In good cold weather, the northern fisheries have lots of food for seals, and the bears keep the seals' population controlled.

Kill the bears, and the seals take more fish, and... people can go hungry.

They are top predator in their domain - what do you expect?

Not just the wildlife! Some Australian desert plants are too having mastered organofluorine chemistry they contain monofluoracetate as well as other exotic extremely toxic compounds like abrin in the Rosary pea.

An amazing coincidence:

An amazing coincidence:

The Republican Party's MO, in a nutshell. Sad thing is Mr. Larkin probably doesn't even ask them to cut him a check to be an employee of the propaganda ministry.

Is that what they put in Foster's?

I get paid in entertainment.

I see a distinct difference in my Lefty vs Righty acquaintances. The leftists are terrified, hunked down at home, avoid people, wear two masks, and are frantic to jump the line somehow and get vaccinated. The righties are bored with the virus, don't mask or distance much, want to get back to work.

I drive to work every day. I know that's risky: I'm more likely to get killed in a car crash than die from the virus.