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E.L. Beck wrote a new diary post: Minnesota Law Review: Corporatists on Supreme Court
A recent study, published in the Minnesota Law Review , has found the Roberts Court extremely friendly to corporations. The study is significant, as it includes members of the status quo, including a professor of law and political science from USC, a professor of law and economics from the University of Chicago, and a judge from a U.S. [...] -
E.L. Beck commented on the diary post We’ve Been Providing Wall Street’s Next Bailout Fund by E.L. Beck.
I made a typo: Reserves are at $1.7 trillion, not $1.5 trillion as reported above. Mea culpa.
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E.L. Beck commented on the diary post We’ve Been Providing Wall Street’s Next Bailout Fund by E.L. Beck.
The Fed has been supplying liquidity, which allows Wall Street to play at the tables at CBOT, NYMEX and your favorite stock exchange. The profits realized are channeled, in part, back into reserves.
This also answers, in simplification, READY’s question: “WHAT THE HELL ARE THESE CRIMINAL BANKS DOING WITH 85 BILLION A MONTH????????”
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E.L. Beck commented on the diary post We’ve Been Providing Wall Street’s Next Bailout Fund by E.L. Beck.
I’m inclined to favor a CPI that follows a set standard of living, thus allowing us to track the costs involved in retaining this standard over time.
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E.L. Beck commented on the diary post We’ve Been Providing Wall Street’s Next Bailout Fund by E.L. Beck.
I know… just trying to outflank the sarcasm.
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E.L. Beck commented on the diary post We’ve Been Providing Wall Street’s Next Bailout Fund by E.L. Beck.
“Golf clap”: Is that an STD commonly found in country clubs?
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E.L. Beck commented on the diary post We’ve Been Providing Wall Street’s Next Bailout Fund by E.L. Beck.
My sense of it all is that in the wake of the credit crisis of ’07/’08, the economic damage was far worse than any Fed, Treasury or bank official let on. The bailouts provided were not enough, thus quantitative easing was set up to swap financial assets (to the Fed) for liquidity (to the banks), [...]
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E.L. Beck wrote a new diary post: We’ve Been Providing Wall Street’s Next Bailout Fund
In this post, ” The Vanishing Middle Class ,” I left off with this sentiment:
“There are no saviors remaining, and the next storm will be too big to control.”
Substantive changes, alas, usually emerge only through substantive shocks. Yet, if we can channel the proper momentum towards these upcoming changes, not all will be lost. In this post, [...]
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E.L. Beck commented on the diary post The Vanishing Middle Class by E.L. Beck.
Everyone in my LinkedIn network knows me as an outspoken supporter of environmental sustainability, particularly those who vehemently disagree with my positions. But the more I researched the topic, the more I became aware that the precipitous expansion of bank-debt money is what has driven our rabid consumption habits. Until we redesign our currency model, [...]
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E.L. Beck commented on the diary post The Vanishing Middle Class by E.L. Beck.
I particularly like your suggestion on the decentralization of Washington’s stronghold. We also need term limits on Congress, and the elimination of organizations’ capacity to donate to campaign funds… alas, even the good orgs. Due to the Citizens United decision by the Supreme Court, if we can’t legally determine the good from the bad orgs, [...]
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E.L. Beck commented on the diary post The Vanishing Middle Class by E.L. Beck.
My sense of it all is we have three choices ahead of us: 1) Allow things to continue down the present path, and eventually end up back where we started in the Middle Ages: barons and serfs. Yet, the only means by which this will occur is if the Fed can indefinitely keep bailing the [...]
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E.L. Beck wrote a new diary post: The Vanishing Middle Class
The Waters Begin to Churn During my return to graduate school a few years ago, I had enrolled in a class on international political economy and a requirement, naturally, was to complete a paper. I elected to write on Japan’s “Lost Decade.” Before I dove into the topic’s research, I only held a sketchy picture of [...] -
E.L. Beck commented on the diary post The Dirty Secrets of Clean Hydrogen by E.L. Beck.
Again, that’s why we need a concerted research and development effort on finding better ways to refine hydrogen.
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E.L. Beck commented on the diary post The Dirty Secrets of Clean Hydrogen by E.L. Beck.
I’m sure there’s an official line of communication to the Energy department, but besides receiving an official reply, my cynical side tells me little attention is being paid to constituents’ concerns. Alas, like all issues, it’ll take a sustained, grassroots movement to push for action and like all things, no one will get involved. Those [...]
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E.L. Beck commented on the diary post The Dirty Secrets of Clean Hydrogen by E.L. Beck.
True, but then again, everything we refer to as an “energy source” is, in fact, an energy storage medium: batteries store chemical energy (i.e., Ni-cads, lithium ion, etc.) to operate laptops or cell phones; fossil fuels store “prehistoric energy” from long-dead organisms that are converted during the refining stage for release in IC engines; hydroelectric [...]
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E.L. Beck commented on the diary post The Dirty Secrets of Clean Hydrogen by E.L. Beck.
All excellent points. As it stands, the most popular refining method for hydrogen involves the use of natural gas for the process. Thus, it is swapping one energy source for another, and as I understand current technologies, it is not an even swap: Simplistically, it takes “more” natural gas to refine “less” hydrogen, in terms [...]
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E.L. Beck commented on the diary post Monday Watercooler by Kit OConnell.
Captain Kidd is fun, but GBS’s rendition of Lukey is even better for a drinking song.
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E.L. Beck wrote a new diary post: The Dirty Secrets of Clean Hydrogen
We placed a man on the moon in less than a decade after the call to action. Why can’t we do the same for hydrogen? On June 14, 2011, Bloomberg News reported that Energy Secretary Steven Chu “whose mandate includes getting more fuel-efficient cars on U.S. roads, is disregarding advisers in his own department and seeking to [...]
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E.L. Beck wrote a new diary post: Freddie and Fannie Crap Gold Eggs for Wall Street
Despite all the blathering in early 2011, from both sides of the aisle, regarding attempts to wind down Fannie Mae and Freddie Mac (and here and here and here), securities guaranteed by these government-backed entities (yes, government backed… let’s no longer pretend U.S. taxpayers are not on the hook for these white elephants) are now at $1.72 trillion, compared to $1.2 [...] -
E.L. Beck commented on the diary post Intelligent Evolution by E.L. Beck.
Ok Synoia, I’ll admit I’m not coming at this from the viewpoint of an atheist, but an atheist will never be in a position to challenge the thinking of a fundamentalist Christian. I’m simply trying to meet a person’s faith where it is at, with little interest in destroying it. We are, after all, a [...]
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