StrangeSox

yeah, wtf was I thinking posting academic economic research?!?!

http://electronics.howstuffworks.com/gadge...beats-audio.htm

The laffer curve is only useful if it can be used to call for ever-lower tax rates!

QUOTE (Balta1701 @ Feb 15, 2013 -> 04:25 PM) Federal prosecutors formally announced charges against former-rep Jesse Jackson Jr. (and his wife, a former Alderman). Some of the items on that (a mink cape???) were ridiculous

http://www.theregister.co.uk/2013/02/15/ip...acts_and_phone/

The Social Trends Driving American Gangs and Gun Violence Some interesting stuff there, interview of U of C professor by Ta-Nehisi Coates.

Freedomworks believes in the labor theory of value?

Emmanuel Saez has an updated paper out looking at income distributions. The top 1% have captured 121% of income growth since 2009. http://www.scribd.com/doc/125269359/Gettin...her-Edmund-Saez

So it turns out that the "task force" that was part of the mortgage fraud settlement with all of the states attorneys general never really existed or did anything, further proving just how terrible that settlement was. http://www.salon.com/2013/02/13/wall_street_wins_again/ this was the last part of the fraud: QUOTE (StrangeSox @ Nov 15, 2012 -> 11:44 AM) I know this came up way back when the banks were signing that bogus settlement agreement with the various states' attorneys over their fraudulent foreclosures, but turns out that the banks will be using investor money to write down mortgages they may or may not own: http://www.nakedcapitalism.com/2012/11/que...e-to-roost.html

QUOTE (southsider2k5 @ Feb 15, 2013 -> 08:05 AM) Incredible. I wonder if it was related to the asteroid that came so close to the earth the other day. Just heard on my way into work that it's not related according to NASA.

the right-wing media are now making up fake groups to supposedly tarnish Hagel http://www.slate.com/blogs/weigel/2013/02/...t_actually.html

QUOTE (Rex Hudler @ Feb 14, 2013 -> 09:14 PM) Or get a job digging ditches, what's your point? They have choices, just because you don't like the choices, doesn't make them wrong. That the ncaa is s***?

QUOTE (Rex Hudler @ Feb 14, 2013 -> 09:36 PM) Your stance on that makes me want to puke. It is so far off of reality, I'm not even goint to argue the point. Cool.

Nbpa ostensibly wanted no restrictions, sounds like a compromise was reached.

count me as confused, too.

QUOTE (Soxbadger @ Feb 14, 2013 -> 06:46 PM) No it doesnt. They gave away something they didnt want, and got something valuable in return. Thats called winning. Its just like in a trade where 1 team is giving up a player they dont really want, but feels the other team highly values them. They try and get as much as possible for the player, but eventually make the deal when theyve pushed as far as they can. I dont know how that can be construed as f***ing up. Which is why when it becomes public that a team really, really wants to unload a player, they can't get as much for them.

QUOTE (Jenksismyb**** @ Feb 14, 2013 -> 05:15 PM) Go read up on what Kentucky basketball players get (and other similar D1 programs). They live a very nice lifestyle in college. Better with tens of millions in the bank? Sure. But not anything like their dirt-poor upbringing. Above-board and within NCAA regulations? Nobody's arguing that the NCAA isn't corrupt as hell as-is, but that's a point against the "paying players will ruin the game" side.

QUOTE (Balta1701 @ Feb 14, 2013 -> 05:00 PM) If you want a comparison, a similar number of NFL players have the same issue within a few years of retirement. So basically, college years seem to have little impact on whether or not a player goes bankrupt when his career ends. THat is true both in teaching financial literacy and in terms of the player's long term earnings potential. In other words, it's really the wrong issue. So I'm left wondering what you were trying to say. Were you agreeing with me?

QUOTE (Soxbadger @ Feb 14, 2013 -> 04:59 PM) Exactly. That is why its nonsense to suggest 1 year of college is going to dramatically improve someones chances about being foolish with their money. There is literally no evidence to support it. Maybe if there were mandatory personal finance classes for all scholarship athletes, but then there's that article Balta just posted in the 'buster about how ineffective financial education efforts are in general...

QUOTE (Balta1701 @ Feb 14, 2013 -> 04:56 PM) So then let's turn around and ask on the other end...by some estimates, within a few years after retirement, 60% of NBA players are broke. What are you asking? How many of that 60% are ex-college players? How many were 3-4 year college players? Is there any evidence that those extra years in college is buying them anything long-term and not actively reducing their lifetime income by taking valuable early playing years away from them? I fully endorse every potential professional athlete who wants to completing a full undergrad degree. I also have no problem with any of them who have no interest in college in the first place wanting to skip a fake year of it.

QUOTE (southsider2k5 @ Feb 14, 2013 -> 04:55 PM) You are wrong. It was a major issue in the last bargaining. http://sports.espn.go.com/nba/news/story?id=5899152 So what did they get in exchange for allowing it? What negotiating room did that buy them?

QUOTE (southsider2k5 @ Feb 14, 2013 -> 04:54 PM) Because they didn't want to miss out on players and/or get sued if they all did it. Instead the NBA's product was seriously harmed. Prior to '95, when Garnett came out of HS. No lawsuits in 94, 93, 92, etc.

QUOTE (southsider2k5 @ Feb 14, 2013 -> 04:53 PM) The example is irrelevant. In practice the NBAPA is fighting this. What you make up doesn't really matter. It's a bargaining chip. If the NBA owners want it, the NBPA is going to want something in return for allowing it if it doesn't really benefit them otherwise.

He had to give up $75M plus three houses, so his assets would have been north of $150M if you assume a 50/50 split. Having to give up that much in the divorce doesn't say anything about his money-managing skills. And, really, if you want to look at it that way, he spent a boatload more and enjoyed it that would have otherwise gone to his ex-wife. And he still has generational wealth. Sounds like he's doing fine financially, and I'm not sure what 3 years of "sports management" classes would have gained him.

QUOTE (southsider2k5 @ Feb 14, 2013 -> 04:46 PM) Yet if all 29 NBA GMs decided not to draft an 18 year old at the same time, they would get sued for collusion, even if they were all acting in their individual team best intersts. This didn't happen prior to the age restriction.