Aa
Ok, there was a post encouraging Americans to vote. Any thoughts on the results?
I have been out of work for a while now because of the hep c and tx, so I have spent quite a bit of time watching the progress of the elections in the USA. It was so heartwarming to see the positive reactions to the elections from so many parts of the world. However, I do know our media can be biased, and I'm sure there were some very negative responses in the world, but I found it a moving event. He is only a man and I hope he can hold on to his ideals for American and our children but, as we all know "power corrupts and absolute power corrupts absolutely."
Wilful
Wilful
Just moved my deferred comp account from agressive and international into "stable market fund".
Lost %40 this year. Not coming back a trusted resource told me. He said, "get out now".
My trusted resource might not be your trusted resource. But. . . .
Lost %40 this year. Not coming back a trusted resource told me. He said, "get out now".
My trusted resource might not be your trusted resource. But. . . .
Like I said before, it should be interesting to see how the theory plays out. Obama plans to raise the corporate tax rate and send stimulus checks out. We can simply wait and see how it works.
"Babble eh! you are the one that said increased demand causes inflation IT DOES NOT CAUSE INFLATION. Printing money causes inflation."
I agree and concede your point, I simply meant that higher demand usually equals higher prices. I am middle class and believe me, I understand taxes. The rates in Ohio are awful. California is worse and anywhere these rates are high, companies are leaving in droves. They are going to states without state income tax like Nevada and Tennessee. When Fed rates get punitive, those companies will go overseas, jobs will suffer, and the recession will not end. That is my prediction.
The G7 met this weekend to discuss a Global currency. Not much reporting on it yet. what is your opinion on this subject. Do you think the world is waking up to the fact that the dollar is losing value at an alarming rate?
"Babble eh! you are the one that said increased demand causes inflation IT DOES NOT CAUSE INFLATION. Printing money causes inflation."
I agree and concede your point, I simply meant that higher demand usually equals higher prices. I am middle class and believe me, I understand taxes. The rates in Ohio are awful. California is worse and anywhere these rates are high, companies are leaving in droves. They are going to states without state income tax like Nevada and Tennessee. When Fed rates get punitive, those companies will go overseas, jobs will suffer, and the recession will not end. That is my prediction.
The G7 met this weekend to discuss a Global currency. Not much reporting on it yet. what is your opinion on this subject. Do you think the world is waking up to the fact that the dollar is losing value at an alarming rate?
Hey, at least Pope John Paul finally vindicated him in 1992 and the Catholic Church conceded that the earth wasn't stationary. Progress takes time!
Once upon a time, there was a theory that the universe revolved around the earth. Copernicus began to wonder why he could not predict the location of celestial bodies at any point in the future.He developed a theory that the Earth revolved around the sun, but he could not prove it and there was a great debate.
Along came Galileo and he invented the telescope. He gathered more data from the moons of Saturn and came to agree with Copernicus. Mainly because the system became more predictive. He could predict with some accuracy, the location of celestial bodies. He was arrested and charged with heresy, but he stuck with his ideas.
All the trickle down folks completely missed the housing bubble and the crash that ensued from it because they were looking at the wrong data. CNBC had commentator after commentator telling us that there was no problem. After all, taxes were low, corporate balance sheets were in good shape and interest rates were low.
They completely ignored the demand side of the economy and so they did not identify the enormous problem developing in the economy. Had they expanded their horizon to include demand, they would have seen that middle class consumer debt was rising too rapidly. They would have seen house prices rising faster than income and realized that house prices were not sustainable without excessive debt.
They could not predict this, since their theory did not take it into account. What amazes me is the fervor with which they hold on to failed ideas.
Given human history, it is me that is naive enough to think that people can ever change without a fight. How little we humans have changed since the time of Galileo.
Along came Galileo and he invented the telescope. He gathered more data from the moons of Saturn and came to agree with Copernicus. Mainly because the system became more predictive. He could predict with some accuracy, the location of celestial bodies. He was arrested and charged with heresy, but he stuck with his ideas.
All the trickle down folks completely missed the housing bubble and the crash that ensued from it because they were looking at the wrong data. CNBC had commentator after commentator telling us that there was no problem. After all, taxes were low, corporate balance sheets were in good shape and interest rates were low.
They completely ignored the demand side of the economy and so they did not identify the enormous problem developing in the economy. Had they expanded their horizon to include demand, they would have seen that middle class consumer debt was rising too rapidly. They would have seen house prices rising faster than income and realized that house prices were not sustainable without excessive debt.
They could not predict this, since their theory did not take it into account. What amazes me is the fervor with which they hold on to failed ideas.
Given human history, it is me that is naive enough to think that people can ever change without a fight. How little we humans have changed since the time of Galileo.
The true test of any theory is that it works and is predictive. Any study of a complex organism begins with gathering facts, analyzing the facts and building a hypothesis. If the hypothesis is predictive - it is true; if not it is false.
I always wondered why Laffer and Kudlow, two very smart guys got the present meltdown so wrong and you enlightened me. The maintained that the economy is strong right up to the meltdown. I predicted the meltdown two years ago and shorted the financial stocks.
They got it wrong because they must have used your data and used trickle down economics to predict GDP. Wow!! were they wrong.
you provided two paragraphs of data claiming the economy grew and households were just in grand shape and then you say we were in a recession!! You say trickle down economics works yet it caused this meltdown. The middle class is out of money and the proof is that once credit is removed, they can't pay their bills. Your economic ideas are as sound as a 5 day weather forecasts.
My ideas have nothing to do with Obamanomics. If Obama does what he says he wants to do, he has a chance of succeeding (it might be too late). If he goes for supply side fixes to a demand side problem, we will have a depression as we did in 1929.
p.s. "Low income people pay a much higher tax than high income people."
Since when?
Since Reagan raised the payroll taxes and cut State aid forcing the states to raise money through sales tax.
Rich people pay sales tax on a small fragment of their income, since they only spend a small fraction on US consumption. Poor people spend all of their income and pay sales tax on a much higher percentage of their income. Rich people have many ways to lower their taxes, since most of their income is not on a W2. Middle income people have all their income on a W2 and pay income tax on all of it.
Babble eh! you are the one that said increased demand causes inflation IT DOES NOT CAUSE INFLATION. Printing money causes inflation.
So on the one hand you say Trickle down works and you also say we are in a mess after 20 years of trickle down. Come on, there is absolutely no proof that trickle down works. If it worked, you would have predicted the meltdown and if it worked their would not have been a meltdown.
Full circle indeed - speaking loudly with great confidence can be a result of ignorance as easily as it can be brilliance.
I am going fishing. I need to learn how to provide my own food after all these wonderful years of trickle down economics.
I always wondered why Laffer and Kudlow, two very smart guys got the present meltdown so wrong and you enlightened me. The maintained that the economy is strong right up to the meltdown. I predicted the meltdown two years ago and shorted the financial stocks.
They got it wrong because they must have used your data and used trickle down economics to predict GDP. Wow!! were they wrong.
you provided two paragraphs of data claiming the economy grew and households were just in grand shape and then you say we were in a recession!! You say trickle down economics works yet it caused this meltdown. The middle class is out of money and the proof is that once credit is removed, they can't pay their bills. Your economic ideas are as sound as a 5 day weather forecasts.
My ideas have nothing to do with Obamanomics. If Obama does what he says he wants to do, he has a chance of succeeding (it might be too late). If he goes for supply side fixes to a demand side problem, we will have a depression as we did in 1929.
p.s. "Low income people pay a much higher tax than high income people."
Since when?
Since Reagan raised the payroll taxes and cut State aid forcing the states to raise money through sales tax.
Rich people pay sales tax on a small fragment of their income, since they only spend a small fraction on US consumption. Poor people spend all of their income and pay sales tax on a much higher percentage of their income. Rich people have many ways to lower their taxes, since most of their income is not on a W2. Middle income people have all their income on a W2 and pay income tax on all of it.
Babble eh! you are the one that said increased demand causes inflation IT DOES NOT CAUSE INFLATION. Printing money causes inflation.
So on the one hand you say Trickle down works and you also say we are in a mess after 20 years of trickle down. Come on, there is absolutely no proof that trickle down works. If it worked, you would have predicted the meltdown and if it worked their would not have been a meltdown.
Full circle indeed - speaking loudly with great confidence can be a result of ignorance as easily as it can be brilliance.
I am going fishing. I need to learn how to provide my own food after all these wonderful years of trickle down economics.
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