tag:blogger.com,1999:blog-1522121129844880066.post9137611425980573219..comments2023-10-24T11:23:31.580-04:00Comments on Le·gal In·sur·rec·tion: Media Bias In Action: Providence Journal Politicizes PolitiFactWilliam A. Jacobsonhttp://www.blogger.com/profile/16433685588536441422noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-1522121129844880066.post-58710885677054983272010-10-28T01:02:09.629-04:002010-10-28T01:02:09.629-04:00Professor, I wrangled with this *objective* group ...Professor, I wrangled with this *objective* group for over 2 months about Obama's campaign promise against Signing Statements. Even though I provided video evidence of his promise, and video evidence of his broken promise, they still rated it as a Compromise. So, anyone that uses them as the end all to truth telling probably uses Wikipedia as a reference tool.sybilllhttps://www.blogger.com/profile/17188465666054204302noreply@blogger.comtag:blogger.com,1999:blog-1522121129844880066.post-36954022544832492832010-10-27T19:06:30.876-04:002010-10-27T19:06:30.876-04:00PIMCO's Bill Gross, who runs a $1 trillion U.S...PIMCO's Bill Gross, who runs a $1 trillion U.S. government bond portfolio, compared U.S. government debt as a Ponzi scheme in this month's investment letter to clients (he even bolds the following two sentences on page 3 of the PDF):<br /><br />"Check writing in the trillions is not a bondholder’s friend; it is in fact inflationary, and, if truth be told, somewhat of a Ponzi scheme. Public debt, actually, has always had a Ponzi-like characteristic."<br /><br />http://www.pimco.com/documents/IO%20Nov%202010%20Final.pdf<br /><br />It's a pretty good read. The first few paragraphs make him sound like he's as fed up with Washington as Tea Partiers.MaggotAtBroad&Wallhttps://www.blogger.com/profile/04493406951892285654noreply@blogger.comtag:blogger.com,1999:blog-1522121129844880066.post-63556471996223787482010-10-27T17:48:19.274-04:002010-10-27T17:48:19.274-04:00Your second example really does show their bias. M...Your second example really does show their bias. Maybe they should change their name to Politi-Half-True.Jakehttps://www.blogger.com/profile/11904791827959032584noreply@blogger.comtag:blogger.com,1999:blog-1522121129844880066.post-590073686395737872010-10-27T16:20:11.907-04:002010-10-27T16:20:11.907-04:00Maybe they should ask Professor Laurence Kotlikoff...Maybe they should ask Professor Laurence Kotlikoff whether it is false to call Social Security a Ponzi Scheme. From his recent book, Jimmy Stewart is Dead:<br />"If our findings hold up after further analysis, Social Security can be said to constitute a Ponzi Scheme in that it is misrepresenting its long-term funding gap. But two things can be said in Social Security's defense. First, the valuation mistake is relatively small compared to the the overall fiscal gap of $15.1 trillion dollars that it reports. Second, Social Security's trustees, in its infinite time horizon liability calculations, do attempt to measure the system's fiscal gap. Indeed, Social Security's fiscal gap analysis is the only such analysis is the only such analysis being done by any branch of the federal government for any of its programs."<br /><br />Kotlikoff argues that the whole federal government budget constitutes a massive Ponzi scheme. For example, see <br /><br />http://www.bloomberg.com/news/2010-08-25/retiree-ponzi-scheme-is-16-trillion-short-laurence-kotlikoff.html<br /><br />"But Social Security has also played a central role in the massive, six-decade Ponzi scheme known as U.S. fiscal policy, which transfers ever-larger sums from the young to the old.<br /><br />In so doing, Uncle Sam has assured successive young contributors that they would have their turn, in retirement, to get back much more than they put in. But all chain letters end, and the U.S.’s is now collapsing."Dessert Survivorhttps://www.blogger.com/profile/04616064444288249273noreply@blogger.comtag:blogger.com,1999:blog-1522121129844880066.post-30741825767877188872010-10-27T15:48:36.479-04:002010-10-27T15:48:36.479-04:00the problem is that they use subjective standards ...the problem is that they use subjective standards for the purpose of their ratings in stead of objective standards.The Griperhttps://www.blogger.com/profile/00937560474548021334noreply@blogger.com