tag:blogger.com,1999:blog-11539837.post5392626047607684071..comments2024-01-19T04:29:08.081-06:00Comments on subrealism: banker culpability for foreclosure crisis...,Unknownnoreply@blogger.comBlogger6125tag:blogger.com,1999:blog-11539837.post-32802109869273243552011-12-05T21:25:57.723-06:002011-12-05T21:25:57.723-06:00so now you wanna try to play all hard huh? wasn...so now you wanna try to play all hard huh? wasn't talking all that jibber jabber backchannel chilito! http://ohellnawlblog.com/newohnblog/wp-content/uploads/2010/09/the-negro-community-frowns-upon-you.jpgCNuhttp://subrealism.blogspot.comnoreply@blogger.comtag:blogger.com,1999:blog-11539837.post-39067938158258172442011-12-05T19:25:47.620-06:002011-12-05T19:25:47.620-06:00As BD has always maintained, responsibility lies w...As BD has always maintained, responsibility lies with the liberals who pressured for change in the mortgage rules in a now-failed attempt to equalize the outcomes, i.e., minorities owning homes. Also note in the article the IQ-deficit description, "less savvy borrowers were disproportionately blacks and Latinos" who fell for it...Big Donnoreply@blogger.comtag:blogger.com,1999:blog-11539837.post-68422377017970345162011-12-05T10:44:45.992-06:002011-12-05T10:44:45.992-06:00Keep people ignorant so you can rip them of when t...Keep people ignorant so you can rip them of when the opportunity presents itself.<br /><br />The White folks don't make accounting mandatory for the White kids. What do you mean it is SEVEN HUNDRED YEARS OLD?<br /><br />So where were the Black Leaders talking about that in the 60s? But we hear about EDUCATION all of the damn time. What education is is defined by the White folks. And the majority of accounting books are crap. The educational system is designed to make money doing what they define as education.<br /><br /> I have these two books:<br /> <br />Glencoe Accounting: First Year Course, Student Edition 4th Edition<br />http://www.uread.com/book/glen...donald/9780078456701<br />http://www.chegg.com/textbooks/glencoe-accounting-first-year-course-student-edition-4th-edition-9780028150048-002815004x<br /><br />The Accounting Game : Basic Accounting Fresh from the Lemonade Stand<br />http://www.exceltip.com/book-1570713960.html<br /><br />The first book says it is the first year of accounting and it costs from $75 to $128 depending on where you buy it or around 5 to 8 times as much as the second. It is 800 pages, has a hard cover. weighs at least 4 times as much as the second book which is only 180 pages. It also has LOTS of color glossy pictures including ones of Bill Gates and Steven Spielberg. There are only two photographs in the other book and they are greyscale not color. They are pictures of the authors in the back of the book. The color drawings and diagrams throughout the book look much like the cover, as if a 7th grader could have done them. The Glencoe book looks much more classy and professional.<br /><br />But there is what is called the Basic Accounting Equation which comes in two slightly different forms.<br /><br />Assets - Liabilities = Net Worth<br /><br />Assets = Liabilities + Owner's Equity<br /><br />They are the same equation with a little algebraic and semantic differences. The Glencoe book does not have that equation until page 48. The second book has it on page 8.<br /><br />The Glencoe book does not mention depreciation until page 624. The Accounting Game has it on page 114. So the more expensive book does not put as much information in as small amount of space so the student can learn a great deal in a short time. It helps schools and book publishers make a lot of money by dribbling out information slowly.<br /><br />Students have to spend a lot of time and money to get watered down information and they pay for expensive books and expensive campuses, but what is supposed to matter in the long run is what ends up between their ears. Double-entry accounting is SEVEN HUNDRED YEARS OLD!!! HOW HARD CAN IT BE? HOW HARD CAN THEY MAKE IT? Making a big deal out of it is ridiculous. But how can accountants charge a lot of money and pay off their student loans if they don't pretend it is difficult? So these costs have to be passed on.<br /><br />So if lots of people get that second book and don't hire accountants...Oops!<br /><br />So what does this have to do with the state of the economy and Occupy Wall Street? If double-entry accounting is actually easy to understand and had been mandatory in our schools for the last 50 years then what state would the economy be in today? No one can truly say. It is just speculation. But if 33% of the borrowers had been able to figure out those loans that helped create the housing bubble and knew there was no way they could pay them back then would the bubble have been created to burst in the first place?umbrarchisthttp://twitter.com/umbrarchistnoreply@blogger.comtag:blogger.com,1999:blog-11539837.post-86479419952232459982011-12-05T09:50:58.626-06:002011-12-05T09:50:58.626-06:00No suckers No hucksterism
Because many continue t...No suckers No hucksterism<br /><br />Because many continue to deny that income<br />inequality has been growing, it’s useful to start with a brief review of how<br />income growth patterns have changed since World War II. The three decades after<br />the war saw incomes grow at an almost uniform 3 percent annual rate for<br />families up and down the income ladder. Since the early 1970s, however,<br />virtually all income gains have accrued to those whose incomes were highest to<br />begin with.It’s a striking fractal pattern. Most of the<br />gains have gone to the top 20 percent of earners, but the lion’s share of the<br />gains within that group have gone to the top 5 percent. And within the top 5<br />percent, most of the gains have gone to the top 1 percent, and so on.<br /><br />It’s done that<br />through a process that I’ve elsewhere called “expenditure cascades.” The<br />process begins with the completely unremarkable fact that top earners have been<br />spending at a substantially higher rate than before. They’ve been building bigger<br />mansions, staging more elaborate weddings and coming-of-age parties for their<br />kids, buying more and better of everything.<br /><br />Many social<br />critics wag their fingers at what they perceive to be frivolous luxury<br />spending. But that misses the point that all consumption norms are local. It’s<br />not just the rich who spend more when they get more money. Everyone else does,<br />too. The mansions of the rich may seem over the top to people in the middle,<br />but the same could be said of American middle-class houses as seen by most of<br />the planet’s 7 billion people…<br /><br />In short, the<br />growing income inequality that OWS protesters are calling to our attention is<br />not the nonissue that many of the movement’s critics say it is. Growing income<br />disparities have imposed enormous costs on almost everyone. OWS protesters have<br />performed an important public service by urging the government to take<br />inequality more seriously.<br /><br />Does Inequality<br />Matter?<br /><br />How<br />“expenditure cascades” are squeezing the American middle class.<br /><br />This essay is<br />adapted from Robert H. Frank’s recently published book, The Darwin Economy. nanakwamenoreply@blogger.comtag:blogger.com,1999:blog-11539837.post-1943267654759514162011-12-05T08:06:53.487-06:002011-12-05T08:06:53.487-06:00Big Don is a man of principles and a principled ma...Big Don is a man of principles and a principled man. He keeps it peer-reviewed, consequently, there were certain evidential inevitabilities he was bound to acknowledge...,CNuhttp://subrealism.blogspot.comnoreply@blogger.comtag:blogger.com,1999:blog-11539837.post-36879532524201955382011-12-05T05:01:08.067-06:002011-12-05T05:01:08.067-06:00Say it ain't so... Donnie thinks it's the ...Say it ain't so... Donnie thinks it's the bankers and not poor black folk that are responsible for this now???!Dale Asberryhttp://life-abundantly.blogspot.comnoreply@blogger.com