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The Golden Rule
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Will the NY Attorney General Bring Doomsday Charges Against Wall Street? If So, How Long Will He Survive?
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New York Post Claims Census Falsifies Unemployment Figures
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How Many Jobs Are Needed to Keep Up with Population Growth?
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VAT or Value Added Tax is Getting a Look in D.C.
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U3 and U6 Unemployment during the Great Depression
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The war on the middle class
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House discusses 401k/IRA confiscation
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Tax Cuts for the Rich Do Not Generate Jobs
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FYI
The third column overlaps the graphs in the second on the iPad.
That's the real problem. It's clearly way too biased towards certain so called "emerging economies" (what is emerging about China, they are #2 about to be #1??)
This is a huge problem and while I'm working on blasting recent claims that "offshore outsourcing is Good for America", clearly, the evidence is we've offshore outsourced our economy to China and the Banksters, with their "free movement of capital" (beyond the derivatives, foreclosure, ripoff, "too big to fail" scam).
Most of the races have a Democrat who really needs to go, yet their opponent is even worse! So, we can't even get to the general real representatives.
It's like "pick a special interest" such as the Banksters or illegal immigrants, or the Health insurance lobby or the teachers union.
In terms of analyzing policies on the whole as in what is really good for America, that's just nowhere.
The "tea party" to me are just the same ole corporate GOP lines of crud that have been said before. Nothing "grassroots" about it from what I can see.
...and, indeed, the effective tax rates are raise significantly, to say 70% or so, we will see no growth. No increase in jobs. The money the 'Too Big to Fail' institutions and the Upper Tenth will sit in accounts or The Fed and just earn interest for the hoarders.
Voices are being raised and as it becomes clearer that neither Obama nor the Republicans are prepared to do this, which is absolutely neccessary for any real recovery, they will be consigned to the dustbin of history. Just like...
...the autocrats of the Communist Block.
...which is what sites like this are helping to make possible, will put an end to such as Obama and Rahm's 'Blue Dogs' getting elected. It takes far more election cycles that the know-nothings of the 'Progressive Blogosphere' thinks. Just as economic theory has evolved so has the political process, Ol' Darwin's work applies to a whole lot of processes, and we are just beginning to see people wake up and realize that they have to get off the couch and take action.
Voting ain't gonna do it.
Organizing will. We are starting to see this with such as MoveOn and other lesser known groups. I use them only as an example there are others which are going to have a bigger impact in the universe of ideas. Money still roars but the 'conservative' ideology is as bankrupt and morally heinous as totalitarianism or communism ever was. The fall of capitalism is happening as we watch.
Suppose all of us here, onshore, got sick of the economic sickness for a change. We just start making the rest of the world pay for what we have paid excessively for since 1945. We would:
- Close Military Bases in foreign countries as Ron Paul and Barney Frank suggest - $200 Billion
- End the Foreign Tax Credit - $211 Billion
- 100 Percent Tarriff on China - $300 Billion
- Adapt the Pickens Plan on NATGAS - $300 Billion within 4 years.
All of the above are budget positive, and GDP positive.
Guess what? No Domestic Private or Public Debt! All of this could be done in exchange for not changing individual Tax Rates (from 35 to 39.6 percent) and foregoing a change in the AMT. Anybody see a deal, besides me?
The Saint Louis Federal Reserve has some fantastic online graphing tools with online databases of economic reports. They don't cover everything but quite a bit.
These graphs are using the Federal Reserve FRED tools. That said, you have to know what they mean at least by compounded, percent change, annual percent change and so on.
SAS? What? From what I can see the Fed has used a series of web technologies and CGI scripts for their graphs. I know they use javascript but not java and they also have APIs, might be Python, it's screaming fast server side, or PHP, which fast...uh, not so much.
Would you please tell me what software did you use to generate those pictures? Is that SAS? Thanks!
I completely agree with this article and the point of view of the Galbraith comission. And like LillithMc, i think that when Obama will lose the election in november, some economic decisions are going to change, like the deficit policy.
If there were a shortage of skilled workers, we'd be seeing a rise in wages in certain sectors. We did in the 1990s. We aren't seeing one, so there is no shortage of skilled workers. Supply and demand come to the rescue.
Income inequality is driven by the Federal Reserve.
In a fiat currency world, money is created out of thin air at the whims of central bankers. Money creation is decoupled from value production. Wealth no longer has to do with value, it's about which piglets have a suckling position at the teats of the Fed.
Eliminate the morally criminal cabal of private bankers that have carte blanch control to create the public currency, reimpose the gold standard, and the creation of wealth and the creation of value will fuse back together.
Right now money is created out of thin air by central bankers and given to their buddies. And that is the entirety of the inequality.
These guys use an "oscillating wave" for income distribution. While I "get" their mathematics, I didn't review it because I really am unsure of that model. That said, these are the including behavioral economics, specifically the social class pressures which cause people to spend, basically beyond their means. More I'm thinking of the many other variables involved which could give spurious results...
but bottom line, they are refuting classic economics, specifically the static idea that if you have more income, disposable income, of course you will save more.
Regardless, I don't think it's too much of a stretch to say that when income inequality increases and you squeeze people to the point of financial ruin, bankruptcies increase and divorces increase. But the stats were global on the GINI coefficients.
Check out their paper, the graphs on income inequality and the rate of the increases, those graphs alone are worth the look.
Fascinating how these 'economic collapses' occur in conjunction with income stratification. And no, Robert, the current crop of economists are not interested in any sort of reality. It's all about models. And the models they use are still based on 19th, yes 19th Century math, continuous functions describing the inevitability of market equilibrium my ass!
We are about to go through a revolution in recognized economic thought. At least we'd better, keeping to the status quo does not bear thinking about. Listening to some soon to retire Dem politician on NPR this morning speak about 'the economy' was a chilling experience as this guy was rattling on using the same broken logic to 'explain' what had happened to our 'free markets'; even the moderator wasn't buying it.
Only question is how many will starve before our 'leaders' start getting and acting on economic advice based on reality instead of what Geithner or MSNBC think reality is. The entire policy structure of our government's economic 'planning' is built on theory that is not only obsolete but...
...totally wrong.
industrial production numbers point to no job growth.
I agree, and to begin with, manufacturing job growth as been in contraction, or just barely above breaking even. This is from not only the BLS, but the ISM and regional Fed survey reports.
To Angry Bear: What is the deal with your login requirements to post a comment? I tried 9 times and have twitter accounts, Google accounts and still couldn't write something. Gez, Louise, enable anonymous comments or something there and yes I know referrer spam is a bitch. ;)
In true form, after the headline buzz is gone, we have this:
This administration has to be politically brain dead. The entire country wants China confronted on trade and this is a great opener.
Nice Sunday edition.
I just swapped out the video for a new one. I'm not watching the entire thing, I've seen this before but so far the audio is in sync, but it was on the other one too. Hopefully it works for you.
I wish the audio track was matched with the video track. It would make the film much more understandable, and therefore, powerful.
Sigh.
Their 1997 Nobel prize was for "a new method to determine the value of derivatives." It would be good for them to address the value of derivatives sold short as well as the toxic garbage that's on the books of our banks and the Fed. There is bound to be a lot of data and estimates available. As for missing data, these are two very smart guys (LTCM notwithstanding) -- they can solve that problem, and maybe help bankers and politicians face reality.
Very nice article that should be given primetime exposure to some honest networks with hosts like DR show, Ed, 60 minutes
Diane Sawyer, Keith Oberman, even Kudlow might give this some honest dialog and create pressure to open the books.
The steps to the longterm solutions Karl shares are very likely going to expose the naked shorts that Goldman Sachs and others were pedaling an infinite cds or for simplicity let me say that the brokers on wall st were defacto creating money, hijacking the fed or counterfeiting. When we get to the truth we will find many investors were sold the same piece of the mbs that everyone else bought
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