Workbook PDF at: https://dl.dropbox.com/u/32961642/EconomicCollapseWorkbook.pdfPart Six Topics:Credit Default Swaps ContinuedRepos and Reverse ReposWhy are These Exotic Products Being Traded So Widely?Review of 90 Day T-Bill Rates 2007-2012
Archive for the ‘macroeconomics’ Category
The one fact she didn’t report is that 40% of tax filers have a negative effective tax rate. The are the winner of the income tax shell game in that they get “refunds” for more than they paid.
When will we start to insist that they have, “skin in te game?
Bring on the Fair Tax!
BTW, the VAT Tax should be called the IRS expansion and Full Employment Guarantee Act and only adds another layer of taxation, where the Fair Tax consolidates all the Federal Tax Schemes.
I have been wondering about the seemingly incoherent policies propagating out of the District of Corruption and trying to develop a model of thinking and goals that would be consistent with the insanity. I have had to abandon any thought of citizen or taxpayer well-being or maintenance of American exceptionalism in order to come up with a somewhat consistent model.
The District of Corruption has become, in essence, a wholesale club sized Faculty Lounge that has developed a plan to run the country as a university focused on the welfare of the faculty over the students or the payers of the tuition.
First is the plan to get out of debt seems to be Quantitative Easing III, IV, V, VI, and however many more it takes to make all those outstanding Treasury Bills (and their interest obligations) worthless. The fact that it will impoverish the American citizenry is as Microsoft used to say, “not a bug, but a feature.” It will wipe out the rich as well as the successful and the thrifty, thus putting all citizens’ welfare in the hands of those best qualified to judge a persons worth (no not the free market, that is seen as cruel, unfair and idiotic to the insufficiently rewarded, it must be those with the wisdom of Solomon, the Tenured).
This destruction of the dollar not only gets us out of debt while punishing those so rude to have been more successful in the free market than the new masters, but also sets the stage for the resurgence of America as a “properly structured society.” In other words the serfs need to acknowledge their proper place in the presence of their accredited and credentialed betters.
That brings us to the master stroke. In claiming that the oil companies get a “tax incentive” by writing off business expenses such as depreciation, exploration, and the cost of failed production attempts (things that legitimate costs of doing business in every other business, just bigger numbers in the oil business), the stage is set for the DOE to revoke all leases and nationalize the oil fields. After the dollar has been destroyed and whether the new currency that purchases oil is a “basket of currencies” or the PetroBuck® the wealth in the oil fields of what was previously called the United States will be more than enough to support the proletariat in their virtual slavery while the masters party like Nero. Issuing decrees as the Gods from Olympus (you have to “properly guide” those serfs, dontcha know?).
I can’t understand how Trade Unions and others like the Mine Workers can stand with government unions. I have sent much of my like in “Right to Work” states and have specifically requested trade union sub-contractors for building projects because I have watched unions like the IBEW train, certify and produce exceptional tradesmen ofttimes working with less than “prime” candidates. To me someone who has gone through a trade union’s training is much preferred over someone simply “licensed” by government. The mining, seafaring and manufacturing unions whose primary objectives are the safety and just treatment of their members are also good organizations. This i not to say I believe in union protectionism. I believe that unions should have to sell their product to the members and their worth to their consumers. “Look for the union label” used to mean higher quality, and it still should.
Government unions (and now the UAW with their cozy relationship and funding running back and forth with corrupticrat politicians) are the ones that draw my ire and the following video sums it up in a nutshell. The Government Unions have become the way to make the taxpayer fund big government politicians at the expense of the taxpayers.
Here is complete video of Herman Cain’s speech at CPAC today. Cain called on Americans to “stay involved, stay informed, and stay inspired” in working to see to it that there is a new President in the White House after the 2012 Election. Cain said liberals like Obama are seeking the destruction of the United States as we know it, wanting to turn America into the U.S. of Europe. Cain said that is not going to happen “on our watch.” He has already formed a Presidential Exploratory Committee, and will likely be a candidate for the 2012 GOP Presidential Nomination.
For a decade, from the election of Bush 43 forward, the Left has lied and cheated as it tried to return to power. Al Gore made a mockery out of the American electoral system by being a spoilsport over Florida, which Bush indeed won by 537 votes. Dan Rather forged a document to try to derail Bush’s re-election. Twice Democrats stole U.S. senators from the Republicans. After voting to support the war to get by the 2002 election, many Democrats quickly soured on the war. The profane protests were cheered by liberals who misattributed “dissent is the highest form of patriotism”to Thomas Jefferson; the words belong to the late historian Howard Zinn.
Once in power, liberals were the opposite of gracious.
For two years now, I have been called ignorant, racist, angry and violent by the left. The very foul-mouthed protesters of Bush dare to now label my words as “hate speech.”
Last week, the left quickly blamed the right for the national tragedy of a shooting spree by a madman who never watched Fox News, never listened to Rush Limbaugh and likely did not know who Sarah Palin is.
Fortunately, the American public rejected out of hand that idiotic notion that the right was responsible.
Rather than apologize, the left wants to change the tone of the political debate.
The left suddenly wants civil discourse.
The left wants to play games of semantics.
The left wants us to be civil — after being so uncivil for a decade.
What did central bankers have to know and then be empowered to do in order to have avoided the housing bubble and economic fallout? Adam Posen is an External Member of the Monetary Policy Committee for the Bank of England, and a Senior Fellow at the Peterson Institute for International Economics. He spoke at the Cato Institute’s Monetary Conference held in November 2010.
The problem with his analysis is that he doesn’t differentiate between periods of healthy growth vs. periods of inflation (or other government policy) driven growth. That’s why he says not all booms are followed by busts. But it’s fairly easy to spot inflation-driven growth, so it’s also fairly easy to spot bubbles, despite what he thinks.
See my previous post on Monetary Policy, Housing and Other Bubbles and get the free book shown there.
Adam Posen Discusses Asset Bubbles, posted with vodpod
A love song for economist F. A. Hayek?
But, “The Road to Serfdom” was #1 on Amazon for a few weeks this summer and is still above Obummer’s books despite being over 50 years old. It’s encouaging to see the young people getting interested in things that will actually make a difference in their lives after their parents just kicked the can down the road.
Original song by Dorian Electra.Filmed by Clara Lee, Madeline Scholl, and Ciaran Finlayson.
Hey there Freidrich Hayek, ya lookin really niceYour methodology is oh so preciseYou break down social science to the fundamentalsRules and social order are the essentials
Chorus:The use of knowledge in societyby each of us we make the economyIt’s not magic that somehow our plans all alignThe result of human action, not of human design
Tell me your thoughts on resource misallocationDistorted price signals and misinformationInterest rates that are made artificially lowTelling producers where resources should go
Since these low interest rates, like you said, are liesMalinvestments come as no surpriseSoon these mistakes will all be revealedand then corrected, unless they’re concealed
Sometimes I dream all day ’bout bein’ Mrs. HayekWe’d share milkshakes, watch sunsets, and kayakWe’d work together on that business cycle theoryOh darlin’ you’ve been workin’ hard, you must be weary
Come to my couch, on which you can restI’ll make tea, we’ll talk credit and interestThen I can talk about my interest in youOf course we’ll talk ’bout the economy, too
Just me and you (x2)Me and YouOh, ohMe and You