Warren Buffet speaks common sense; alarms most Republicans

[Asher]

This is an unfortunate and widely held misapprehension. Starting in mid-2008, the Federal Reserve has had a policy of printing too few dollars, not too many. That is the primary cause of the current recession.

Errr...

You seriously believe the primary cause of the US recession is because in the mid-2008s, inflation was not high enough?

[Asher]

What makes you think tech people in banks understand finance?

I definitely do not understand finance as well as you do, but I'm not completely ignorant about it. Somebody had to implement the risk analysis computations when it becomes too difficult for the egghead PhDs to do.

[Asher]

Oh, and for the record, Asher, I do have a job.

What exactly do you do?

[Asher]

Resurgent energy sector? Have you seen what Obama's done to drilling, and the EPA crap they are dumping on TX? It's the taxes.

You're an idiot.

Quote stats on which sector Texas jobs are being created in. There's a reason you haven't done so.

It's no coincidence that Texas leads the US in job growth, and Alberta leads Canada in job growth.

[Ogie Oglethorpe]

Would it help that he does have a superior moral position?

Only if he could substantiate it.

[Jaguar]

What exactly do you do?

Exact same as Kuci.

[Ogie Oglethorpe]

They are and have been DL's for as long as I can remember.

[Kuciwalker]

Errr...

You seriously believe the primary cause of the US recession is because in the mid-2008s, inflation was not high enough?

Yes. More precisely, that NGDP expectations plummeted/were allowed to plummet when the Federal Reserve inadvertently tightened monetary policy in response to the financial crisis and the surge in oil prices.

[Kuciwalker]

Exact same as Kuci.

@Asher: he's about fifty feet away from me right now.

[giblets]

So Vermont and New Hampshire are states with a particularly high number of stay at home parents?

Bzzt, try again.

Those states are near the top of the list you posted. If you think those states have low numbers of stay at home parents, that would be consistent with a high labor force participation rate.

What's really bizarre is insisting that high labor force participation rates are a good indicator of prosperity. Generally it's the families that are struggling to make ends meet who need to have both parents work, and if they're not struggling then whether they both work is a matter of choice. Also, a single mother is probably more likely to work than a married mother. I don't see any reason to assume that a state with a higher participation rate is better off. Even if it were true, Texas is in the middle of the pack.

[Ogie Oglethorpe]

He's about fifty feet away from me right now.

Translation - there is a mirror in the bathroom.

[Ben Kenobi]

You're an idiot.

I don't think so, but ok.

Quote stats on which sector Texas jobs are being created in. There's a reason you haven't done so.

That's because it's my industry, dumbass.

http://coastalbendtechprep.org/documents/Fastest_Growing_Industries_Texas_2014.pdf

It's no coincidence that Texas leads the US in job growth, and Alberta leads Canada in job growth.

Yeah, they both have the lowest tax jurisdiction in the nations, but then that's just a coincidence.

[giblets]

You're an idiot.

Quote stats on which sector Texas jobs are being created in. There's a reason you haven't done so.

It's no coincidence that Texas leads the US in job growth, and Alberta leads Canada in job growth.

Asher, IIRC Texas now consumes more oil than it produces.

[Ben Kenobi]

What's really bizarre is insisting that high labor force participation rates are a good indicator of prosperity. Generally it's the families that are struggling to make ends meet who need to have both parents work, and if they're not struggling then whether they both work is a matter of choice. Also, a single mother is probably more likely to work than a married mother. I don't see any reason to assume that a state with a higher participation rate is better off. Even if it were true, Texas is in the middle of the pack.

Workforce participation correlates best with prosperity, better than unemployment (which is distorted and doesn't count long term unemployed.) The only major outlier is NY and MA.

The reason for the divide has to do with percentage of non hispanic white folks in each state. Unsprisingly the states with the fewest minorities see the most folks working. Texas has come a long, long way.

[giblets]

Workforce participation correlates best with prosperity, better than unemployment (which is distorted and doesn't count long term unemployed.) The only major outlier is NY and MA.

The reason for the divide has to do with percentage of non hispanic white folks in each state. Unsprisingly the states with the fewest minorities see the most folks working. Texas has come a long, long way.

Unsurprisingly...?