What are the odds that Congress manages to screw up the US credit rating again?

Great_Antibob · August 1, 2013, 6:30pm

Humiliated?

So far, you’ve managed to reveal your deep ignorance across a wide range of topics to several posters and have them call you on it. If that required my humiliation, all the better for me.

Being called an asshole by the likes of you is apparently a wonderful compliment.

In the mean time, credentialed economists are not on your side.

deltasigma · August 1, 2013, 6:38pm

Oh god, the comedic value of this thread is just overwhelming. The entire forum has had 80 some posts and 3 full days to reveal my so-called ignorance and not once - ONCE - has anyone manage to provide a since example WITH CITES of where I was wrong on an economic or monetary issue.

And you know what, that really shouldn’t have been all that difficult since a) I’ve forgotten a lot since business school and b) a lot has been learned and a lot has changed since then. As to (b), I’ve had to learn/relearn a lot just in the past decade or so since I decided to open a brokerage account and manage some of my own funds. I was too chicken shit to do that previously so I didn’t pay that much attention.

Great_Antibob · August 1, 2013, 6:44pm

You keep using that word. I don’t think that word means what you think it does.

Hint: check the post you quoted. When economists are calling credit ratings of sovereign nations a joke, they’ve got a reason for it. When a Nobel Prize winner disagrees with you, it’s time to re-think things.

What the hell does this have to do with credit ratings of sovereign nations?

You’re trying poorly to make an argument by authority and failing miserably. My brother has a recent MBA. So fucking what? I wouldn’t trust him to manage my funds if my money depended on it.

And based on the links in this thread, it’s a common pattern with you. Posters with clearly vastly more knowledge and experience tell you just how wrong you are and you can’t stand it.

Well, boo fucking hoo.

I’m following the Martin Hyde route from now on. You clearly can’t see past your own “magnificence”, so I’ll let you have it from now on.

All Hail deltasigma, the greatest brain on the SDMB who is never wrong and certainly not a blithering blowhard!

deltasigma · August 1, 2013, 6:51pm

Great_Antibob:

You keep using that word. I don’t think that word means what you think it does.

Hint: check the post you quoted. When economists are calling credit ratings of sovereign nations a joke, they’ve got a reason for it. When a Nobel Prize winner disagrees with you, it’s time to re-think things.

What the hell does this have to do with credit ratings of sovereign nations?

You’re trying poorly to make an argument by authority and failing miserably. My brother has a recent MBA. So fucking what? I wouldn’t trust him to manage my funds if my money depended on it.

And based on the links in this thread, it’s a common pattern with you. Posters with clearly vastly more knowledge and experience tell you just how wrong you are and you can’t stand it.

Well, boo fucking hoo.

I’m following the Martin Hyde route from now on. You clearly can’t see past your own “magnificence”, so I’ll let you have it from now on.

All Hail deltasigma, the greatest brain on the SDMB who is never wrong and certainly not a blithering blowhard!

Oh sweet Jesus, another moron. I admitted that I hadn’t properly stated the issue in the OP in post 29 and restated it.

Care to try again there short bus?

leahcim · August 1, 2013, 6:56pm

Quoted for speaking my thoughts more articulately that I would myself.

There really is only one appropriate response to DS, and since this is the Pit:

:rolleyes::rolleyes::rolleyes::rolleyes::rolleyes::rolleyes::rolleyes::rolleyes::rolleyes:
:rolleyes::rolleyes::rolleyes::rolleyes::rolleyes::rolleyes::rolleyes::rolleyes::rolleyes:
:rolleyes::rolleyes::rolleyes::rolleyes::rolleyes::rolleyes::rolleyes::rolleyes::rolleyes:

deltasigma · August 1, 2013, 7:00pm

Obviously another person who has never read any of my monetary or economics posts. I NEVER speak from authority. In fact, I doubt that unless someone had looked at my profile they would have been aware of my academic background prior to this thread. But hey - PROVE ME WRONG. Here’s yet another chance.

septimus · August 1, 2013, 7:04pm

Fuck off, you dolt. I can’t tell whether you’re too ignorant to identify the thread I spoke of, or whether you need a Google or Wikipedia cite that you were wrong. In the latter case, I can only laugh. SDMB will provide more epxertise than the average blog that will show up with Google. On many matters including the one we argued in the thread all that’s needed is basic knowledge and common-sense: to ask for “a cite” in such a case shows much confusion.

But in fact, Hellestal posted some cites there to help educate you. You responded:

Just to help fight your ignorance further, the question had the same answer for individual equities as for indexes. “Too stupid” was the only correct part of that post, but the target was wrong.

But we’re real proud of you for graduating magna cum “lauda.” If that boast was intended to start a pissing contest, read my post in “Gifted child” thread. BTW, I post on finance despite having no economics training except the Freshman 101 class at one of the best Econ departments in the country. After I got the only A+, the Chairman of the Dept. invited me for a meal and begged me to switch majors to Economics.

deltasigma · August 1, 2013, 7:06pm

septimus:

Fuck off, you dolt. I can’t tell whether you’re too ignorant to identify the thread I spoke of, or whether you need a Google or Wikipedia cite that you were wrong. In the latter case, I can only laugh. SDMB will provide more epxertise than the average blog that will show up with Google. On many matters including the one we argued in the thread all that’s needed is basic knowledge and common-sense: to ask for “a cite” in such a case shows much confusion.

But in fact, Hellestal posted some cites there to help educate you. You responded:

Just to help fight your ignorance further, the question had the same answer for individual equities as for indexes. “Too stupid” was the only correct part of that post, but the target was wrong.

But we’re real proud of you for graduating magna cum “lauda.” If that boast was intended to start a pissing contest, read my post in “Gifted child” thread. BTW, I post on finance despite having no economics training except the Freshman 101 class at one of the best Econ departments in the country. After I got the only A+, the Chairman of the Dept. invited me for a meal and begged me to switch majors to Economics.

Still too stupid to find an actual citation to back anything up though eh? You can’t even be bothered to cite the thread you’re talking about. I’m not even wasting the keystrokes.

septimus · August 1, 2013, 7:22pm

You click on the blue arrow after “Originally Posted by deltasigma.” You really didn’t know that? :dubious:

I’ve told you that in many of your posts you seem knowledgeable and intelligent. But what’s happened now? When I see your name in future my only urge will be to ask: What’s the diagnosis? Are you getting the right meds?

deltasigma · August 1, 2013, 7:27pm

I’m trying to decide if I should be insulted or amused.

I’ll get back to you.

pancakes3 · August 1, 2013, 7:33pm

I got an A in intro to micro AND intro to macro and I didn’t even get to meet a genuine prof. Outside of the a handful of classes, It was 75% grad students teaching us. 4 in fact. 1 “head” grad student and 3 associate grad students. So now I’m out a dinner AND a MENSA membership.

I will say that a few years ago when the credit agencies were rumbling, I asked an I-banking friend of mine (no MBA unfortunately) if we should be concerned. Specifically, if it would fuck with his models/spreadsheets (CAPM). He said “Slightly, but not really. I mean, what are we going to do? NOT buy US bonds and bills in favor of… Eurodebt? Please. This isn’t a Jay-Z video. Yeah, it’ll fudge the numbers slightly but it’ll be business as usual.”

Note, my friend is not an economist, much less a Nobel-prize-winnign economist. Just an analyst at an investing firm. However, knowing both honest-to-goodness economists as well as honest-to-goodness financiers/bankers, the two’s knowledge base rarely intertwine. Furthermore, an MBA is a Masters of Business Administration, nothing more, nothing less. If we’re appealing to authority, we should at least be appealing to the right authorities in the right fields of expertise.

deltasigma · August 1, 2013, 7:41pm

pancakes3:

I got an A in intro to micro AND intro to macro and I didn’t even get to meet a genuine prof. Outside of the a handful of classes, It was 75% grad students teaching us. 4 in fact. 1 “head” grad student and 3 associate grad students. So now I’m out a dinner AND a MENSA membership.

I will say that a few years ago when the credit agencies were rumbling, I asked an I-banking friend of mine (no MBA unfortunately) if we should be concerned. Specifically, if it would fuck with his models/spreadsheets (CAPM). He said “Slightly, but not really. I mean, what are we going to do? NOT buy US bonds and bills in favor of… Eurodebt? Please. This isn’t a Jay-Z video. Yeah, it’ll fudge the numbers slightly but it’ll be business as usual.”

Note, my friend is not an economist, much less a Nobel-prize-winnign economist. Just an analyst at an investing firm. However, knowing both honest-to-goodness economists as well as honest-to-goodness financiers/bankers, the two’s knowledge base rarely intertwine. Furthermore, an MBA is a Masters of Business Administration, nothing more, nothing less. If we’re appealing to authority, we should at least be appealing to the right authorities in the right fields of expertise.

I’m happy to get the discussion back on track but I doubt some people will allow that. They seem to have some rather large bugs up their ass, but I’m willing to give it a shot.

Your friend is being overly simplistic. US paper is sold at auction and while those auctions are set up such that they will always sell out, the price is not set until the sale. I won’t claim to understand the mechanics, but the thing everyone seems to watch is the bid to cover ratio and that seems to relate to the rate that is demanded.

IOW, yes, people will buy our paper, but they can still demand a higher rate.

pancakes3 · August 1, 2013, 7:55pm

Well Martin already addressed this. What we observed was that if the rating is dropped, it signals that the economic future of America is shaky - not just for the government. Then investors scramble to buy the safest thing around - and that is still government debt.

deltasigma · August 1, 2013, 8:03pm

I’ve dealt with Marty before I consider him as reliable as he considers me.

China_Guy · August 3, 2013, 4:18am

VIX means jack shit. Same as implied volatility or volatility value. It is herd instinct and backed out of the equation, but doesn’t actually say anything except what the market average is for volatility. And if you learn anything in the market, is that the market average is wrong.

Peace brother. Go back to coding for $60k a year.

deltasigma · August 3, 2013, 4:31am

Learn to read dipshit. That why I said it’s retrospective.

Can you say re-tro-spec-tive asshole?

Now why don’t tell me the implications of an inverted yield curve. I’ll wait while you look it up.

China_Guy · August 3, 2013, 8:09pm

Bless your heart. The quote says “retrospective” and everything.

Why the smack talk about an inverted yield curve? We aren’t there. It’s an indicator that short term funding is hard to come by, and by extension that there is a pending economic meltdown. Not always accurate but it’s an indicator.

deltasigma · August 3, 2013, 8:23pm

AHAHAHAHAHAHA!

If YOU were ever in finance then I got my degrees from a Cracker Jack box asshole. Assuming you can actually read at the comprehension level required, why don’t you take a look at this and give it another try short bus.

In fact you only had to go to a link I previously provided for a clear explanation.

**What Does an Inverted Yield Curve Suggest?
**Historically, an inverted yield curve has been viewed as an indicator of a pending economic recession. When short-term interest rates exceed long-term rates, market sentiment suggests that the long-term outlook is poor and that the yields offered by long-term fixed income will continue to fall. More recently, this viewpoint has been called into question, as foreign purchases of securities issued by the U.S. Treasury have created a high and sustained level of demand for products backed by U.S. government debt. When investors are aggressively seeking debt instruments, the debtor can offer lower interest rates. When this occurs, many argue that it is the laws of supply and demand, rather than impending economic doom and gloom, that enable lenders to attract buyers without having to pay higher interest rates.

The issue isn’t the cost of short term funding but the long term outlook and the response of people thereto.

GOOOOOOOO SHORT BUS!!! Yeaaaaahhhh!!!

septimus · August 3, 2013, 8:35pm

What a fucking obnoxious asshole you’ve turned into.

Upthread I pointed to a very specific claim you made in a GQ thread that wasn’t merely wrong, but stupidly so. You responded only with more name-calling.

It’s probably too late for you to salvage any reputation at SDMB, but here’s a tip for when you give up here and try to pull weight at a stupider message board: Acknowledge your blunders. When you instead just name call when blunders are pointed out it makes you look sophomoric. (In fact, I thought you were a sophomore, and was surprised when you claimed to be mature.)

deltasigma · August 3, 2013, 8:40pm

You’re just a tedious ponce at this point and I’m tired of repeating myself.

edit: It does kind of suck to be you though doesn’t it? All of you who said I didn’t know shit and was wrong about virtually everything. Yet when challenged to provide real proof with citations, you just keep regurgitating the same bile. You might want to see a doctor about that. Hehehe!

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What are the odds that Congress manages to screw up the US credit rating again?

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