Gaming of the electricity markets is endemic; it was facilitated by deregulation, begun in the 1970s and continuing to this day. Like banking, the worst of deregulation came under Clinton.

Almost very “market” that has an independent system operator pays much higher rates than those which are do not. Regions with public power agencies or cooperatives pay some of the lowest rates.

Electric deregulation is financialization of electricity markets — privatized profits, socialized losses.

Low interest rates are designed first and foremost to support asset values, including the stock market, Treasury debt, and housing prices. There is a HUGE difference in implied value when you use a 2% implied discount rate rather than a 5% discount rate.

Interest rates only impact economic growth if people are investing, borrowing, and lending. Right now that activity remains subdued, except for mortgages to purchase/refinance houses that continue to trade at inflated values.

My take is that people who consider themselves job creators are usually the opposite, kind of like draft dodgers who claim others who served avoided service (I know it’s 8 years old, but it’s a great analogy).

I’m the opposite of a commie – I believe in the free market. I just want to eliminate the distortion and externalization of costs that are often employed by those who wish to control the market (and hence make it not free).

There is one group you are not going to see leave the country anytime soon, billionaires. People like Bernard Arnault and the such. If you think taxes (not) paid by the top 0.001% in this country are an outrage, then don’t look at what their peers (do not) pay in France. It would make you want to sing “Ah, ça ira” and reach for a guillotine.

Taxation for the very rich in France is literally (and I mean “literally” in a very literal way) a bargain, essentially a lump sum negotiated each year between such individuals (well, their advisers) and the Ministry of Finance, based on all sorts of factors far beyond the normal tax code. Amazing sausage making process.

But for the mere millionaire, wealthy professionals, entrepreneurs, SMB-owning families and the such, France is absolute hell and the gov just cranked the heat one more notch to show they are doing something.

If they really wanted to raise money, they would start looking in corporate tax avoidance by foreign investors through transfer pricing, non-taxation of interests, etc.

There you go! Being reasonable, constructive and sensible on us, eh?

What’s next? Are you gonna suggest that job creators should pay taxes?

You must be some sort of a commie :-)

“Light Touch
…
Treasury and the Fed would prefer “public shaming kept to a minimum” re allegations of banking rogue states – Reuters”

Hunted (in vain) for the quoted words in the cited piece – but why be pedantic about details like that?

HSBC and StanChart – if these two willing and eager felony-participants in ongoing criminal enterprises don’t deserve the corporate ‘death penalty’ – who does?

I know, not gonna happen.

I can imagine a “double dip” scenario in which we are rocked by a second steep recession (and prices fall further). I can imagine five to ten years of stagnation, in which housing values are eroded by inflation. But it is very hard to imagine a real recovery at this time.