The 0.1 % Federal contribution is statistically insignificant. Compare Federal spending contributions to Net Imports, Durable Goods, or inventory accumulation. Not that the size of increase, the size of deficit is tiny,
U,S. in deficit to GDP is up there with P.I.G.S.
There is no plan, unlike the Chinese, there is no Harry Hopkins to write
spending contracts. There is no idea that $60 Bn is way too small to make a difference except at state level. The spending part of the 'stimulus' has huge unobligated balances. They will not even use Commerce, Treasury, or Fed, or lean on the banks to lend,
Expand years on the BEA site to have a look at 1950 - Korean War. An economy growing much faster than China today. Chief Contributor to 1950 Expansion? Manufacturing. As I recall, we were not so nice to the Chinese in that year.
The money goes into state and local workers and services, which lowers the unemployment rate and increases government spending. The G, if you look at the GDP equation, is government spending, that affects GDP.
Not saying there are much more effective ways to stimulate and restructure and economy. When they passed this so called Stimulus, I wrote up scathing pieces on how they were just spending instead of stimulating. They refused to keep the money domestic, and you're right, you pour money out of the country that doesn't stimulate anything, GDP is domestic.
They wouldn't do a strong hire Americans requirement, stimulus funds poured overseas to jobs and projects overseas.
I should do an update on how much, but it was especially true on "green" job hype and alternative energy "projects".
Meanwhile China is kicking our ass in these technologies.
But state and local government spending does affect GDP.
First, there are 2 foreign wars and the presence of U.S. bases in over 140 countries. Those dollars stimulate the foreign local economies where the bases reside, but not U.S. spending unless the military pay is repatriated.
Second, let's not forget that all tax dollars spent are transfer payments. Money comes out of somebody's pocket and gets spend by somebody else. That leaves it all to the deficit and many of those dollars go overseas as well.
Segue to the case for a real stimulus? Hey, Harry Hopkins and FDR did it. Harry sat down and just wrote up the contracts.
Economix has up a post showing the claim UI causes people to be unemployed longer is just discriminatory B.S.
We're seeing this attitude towards the unemployed generally. A host of companies are refusing to hire anyone unemployed. Get this, they only want to hire people who already have a job!
These are our representatives, looking at the worker as the serf, the peasant, the commoner, with a "let them eat cake" attitude.
I cannot believe the press took this seriously. All weekend it's been nothing about the "Re-evaluation". Of course the yuan came out a little lower to the Euro but is basically unchanged.
How can people think China was going to do anything but try to blow off the pressure before the G-20?
I can't find it at the moment but someone analyzed the total effect the states were having on GDP, national and it was either 0.25% or 1.5% total reduction.
I couldn't quite find something to write about today. It's something akin to how insane the world is, and instead of dealing with the corruption, we're getting inane "choices" framed again as "smaller government". I mean even what the problem is isn't amplified.
i.e. don't pour "Stimulus" offshore or where it doesn't give the most bang for the buck. The most critical thing is private sector jobs. Yet, when it comes to anything, including stimulus to generate real jobs with good pay...
Again, I am ahead of the curve - Iceland writing into legislation to become a safe haven for investigative journalism (the real kind).
Given my inclusion of Icelandic books, and an Icelandic travelogue by those books' author, I am au courant -- and I take what little satisfaction I can find in today's world...
while you know that, I know that, EP readers do not know that. Just like they do not know the Bush administration traded nuclear technology to India for Mangoes, along with giving away more U.S. jobs.
It's astounding how little the public realizes in terms of critical to our national security has been given away.
By design? I have no idea. Demanded by MNCs? Yes, documented, our pal Citigroup at the top of the pile.
"At this point we really had both parties allowing this to happen."
Why is this discussion silly and pointless?
Gee, does anyone happen to remember it was the Clinton Administration which voluntarily handed over the latest military technology to China back in the late '90s, ostensibly to give them parity?
Gee, does anyone happen to remember that the Bush Administration happily allowed them to buy up the most strategically sensitve bearings plant (lock, stock and barrel)?
It would definitely appear to be by design, not simply allowed. If China takes aggessive action against the Ameritards, it will be because the multinationals have so directed.
China has captured by either buying or the corporation moved production to China, a host of strategically critical technologies for national security. It goes from magnets for smart bombs to nuclear technology to allowing China to manufacture a host of critical silicon/chips/components/COTS, putting god knows what in the microcode, to food supplies to even the power grid.
At this point we really had both parties allowing this to happen. But China does not need to attack the U.S. militarily. They have conquered the U.S. through economic means.
I cannot believe I just read this, but HuffPo has front paged a report listing all of the lost "profits" if the Volcker rule or the original derivatives reform amendment passes.
What a crock! What do they not get about LOSSES? They list potential profits but it's so obvious, these can be losses! It's like the media is just buying into these glorified gambling chips, as if they don't have a downside, which we just experienced and had the U.S. taxpayer pay the bill for!
What do they not get about that money going into real investments, that also generate profits, instead of gambling with the house and clients money?
Front paged, a clearly lobbyist written report, as if there is no other alternative. anyone remember that old fashioned banking where banks would loan money to new businesses, develop industries and all of that real economy stuff?
Unreal! Jesus, the models themselves are not even valid for many of these derivatives, what is it about the financial meltdown people do not understand or remember?
Quietly, China has nationalized the sole U.S. power plant producer of uranium by taking a 5% stake in a Hong Kong based producer. The situs and the stake make for complete control. At a time of its choosing China will cripple the power grid, attack the Pentagon (thousands of daily DoS attacks now), repatriate U.S Treasuries, control the mines in Afghanistan, close the Panama Canal (controlled by Chinese Overseas Shipping Company).
Two weeks ago, China demanded that encryption keys to all U.S. proprietary software be turned over. After the U.S. economy is crippled and darkened, the remaining U.S. nuclear plants will be starved of fuel. Of course, our able Secretary of Treasury got an another empty promise to gradual partial, maybe, we-got-our-fingers-crossed, devaluation.
The big question is not so much when, but how will a slow, stealth attack ever be perceived or opposed in a government filled with stooges.
NYTimes
"
HONG KONG — A company here that is partly owned by the Chinese government has quietly purchased a 5.1 percent stake in the only American-owned provider of enriched uranium for use in civilian nuclear reactors
"
or get anywhere with improved safety, methods and regulation.
Right now we have corporations pointing fingers, obviously to avoid liability. With the beyond belief games going on, obviously over liability, lawsuits...
the fact they have black shit spewing into the gulf, destroying the Earth seems almost secondary.
I am beginning to despize public relations and attorneys.
It's not clear exactly if he was demoted, taken out of the spotlight or what, here is the story.
I guess BP thinks, as usual, it's all about lawyers and public relations, nothing about engineering, safety, and toxic sludge pouring into the gulf of Mexico.
You're right about the chauvinism - exceptionalism perfecta. Welcome to Nigeria. At least in Ecuador, the government is fighting back. Can't wait for the fracking story. What a deal! Move to the burbs and your faucet breathes fire.
There's so much opportunity for this country, it's stunning. Yet the powers that be keep snatching defeat from the jaws of victory, consistently and blatantly.
They'll be gone at some point. I hope that they don't take us with them.
The left scale(y-axis) is the percentage change by year of each right scale - your relative position on the wage totem pole (x-axis). I would have reversed axes and helped the color blind with something besides 2 shades of green. Last decade is the sloping down green line from left to right. So when you hit the middle of the wage scale, middle class, the graph drops off precipitously in the last decade. Notice how from 1979 to 1989 the scale climbs upward as you move up the wage scale. Low wage jobs had negative growth 1979 to 1989. High wage jobs grew the best in that period. Center for American Progress. Here is the original link: http://www.americanprogress.org/issues/2010/05/middle_job_market.html
is the current burn & capture rate on the spill. They are waiting on ships to arrive to increase capacity (a clearly very stupid thing to not plan for early on).
This should extend the power of their subsidiary, Phibro, which has been active in that oil and energy (dramatically driving up prices) leveraged speculation.
The 0.1 % Federal contribution is statistically insignificant. Compare Federal spending contributions to Net Imports, Durable Goods, or inventory accumulation. Not that the size of increase, the size of deficit is tiny,
U,S. in deficit to GDP is up there with P.I.G.S.
There is no plan, unlike the Chinese, there is no Harry Hopkins to write
spending contracts. There is no idea that $60 Bn is way too small to make a difference except at state level. The spending part of the 'stimulus' has huge unobligated balances. They will not even use Commerce, Treasury, or Fed, or lean on the banks to lend,
Expand years on the BEA site to have a look at 1950 - Korean War. An economy growing much faster than China today. Chief Contributor to 1950 Expansion? Manufacturing. As I recall, we were not so nice to the Chinese in that year.
The money goes into state and local workers and services, which lowers the unemployment rate and increases government spending. The G, if you look at the GDP equation, is government spending, that affects GDP.
Not saying there are much more effective ways to stimulate and restructure and economy. When they passed this so called Stimulus, I wrote up scathing pieces on how they were just spending instead of stimulating. They refused to keep the money domestic, and you're right, you pour money out of the country that doesn't stimulate anything, GDP is domestic.
They wouldn't do a strong hire Americans requirement, stimulus funds poured overseas to jobs and projects overseas.
I should do an update on how much, but it was especially true on "green" job hype and alternative energy "projects".
Meanwhile China is kicking our ass in these technologies.
But state and local government spending does affect GDP.
First, there are 2 foreign wars and the presence of U.S. bases in over 140 countries. Those dollars stimulate the foreign local economies where the bases reside, but not U.S. spending unless the military pay is repatriated.
Second, let's not forget that all tax dollars spent are transfer payments. Money comes out of somebody's pocket and gets spend by somebody else. That leaves it all to the deficit and many of those dollars go overseas as well.
Segue to the case for a real stimulus? Hey, Harry Hopkins and FDR did it. Harry sat down and just wrote up the contracts.
Economix has up a post showing the claim UI causes people to be unemployed longer is just discriminatory B.S.
We're seeing this attitude towards the unemployed generally. A host of companies are refusing to hire anyone unemployed. Get this, they only want to hire people who already have a job!
These are our representatives, looking at the worker as the serf, the peasant, the commoner, with a "let them eat cake" attitude.
See line 25:
http://www.bea.gov/national/nipaweb/TableView.asp?SelectedTable=2&FirstY...
Even when combined with the Federal government (line 21), overall government is still having a negative impact.
I cannot believe the press took this seriously. All weekend it's been nothing about the "Re-evaluation". Of course the yuan came out a little lower to the Euro but is basically unchanged.
How can people think China was going to do anything but try to blow off the pressure before the G-20?
I can't find it at the moment but someone analyzed the total effect the states were having on GDP, national and it was either 0.25% or 1.5% total reduction.
I couldn't quite find something to write about today. It's something akin to how insane the world is, and instead of dealing with the corruption, we're getting inane "choices" framed again as "smaller government". I mean even what the problem is isn't amplified.
i.e. don't pour "Stimulus" offshore or where it doesn't give the most bang for the buck. The most critical thing is private sector jobs. Yet, when it comes to anything, including stimulus to generate real jobs with good pay...
we can't get it.
Again, I am ahead of the curve - Iceland writing into legislation to become a safe haven for investigative journalism (the real kind).
Given my inclusion of Icelandic books, and an Icelandic travelogue by those books' author, I am au courant -- and I take what little satisfaction I can find in today's world...
while you know that, I know that, EP readers do not know that. Just like they do not know the Bush administration traded nuclear technology to India for Mangoes, along with giving away more U.S. jobs.
It's astounding how little the public realizes in terms of critical to our national security has been given away.
By design? I have no idea. Demanded by MNCs? Yes, documented, our pal Citigroup at the top of the pile.
"At this point we really had both parties allowing this to happen."
Why is this discussion silly and pointless?
Gee, does anyone happen to remember it was the Clinton Administration which voluntarily handed over the latest military technology to China back in the late '90s, ostensibly to give them parity?
Gee, does anyone happen to remember that the Bush Administration happily allowed them to buy up the most strategically sensitve bearings plant (lock, stock and barrel)?
It would definitely appear to be by design, not simply allowed. If China takes aggessive action against the Ameritards, it will be because the multinationals have so directed.
Pretty obvious to all paying attention...
China has captured by either buying or the corporation moved production to China, a host of strategically critical technologies for national security. It goes from magnets for smart bombs to nuclear technology to allowing China to manufacture a host of critical silicon/chips/components/COTS, putting god knows what in the microcode, to food supplies to even the power grid.
At this point we really had both parties allowing this to happen. But China does not need to attack the U.S. militarily. They have conquered the U.S. through economic means.
I cannot believe I just read this, but HuffPo has front paged a report listing all of the lost "profits" if the Volcker rule or the original derivatives reform amendment passes.
What a crock! What do they not get about LOSSES? They list potential profits but it's so obvious, these can be losses! It's like the media is just buying into these glorified gambling chips, as if they don't have a downside, which we just experienced and had the U.S. taxpayer pay the bill for!
What do they not get about that money going into real investments, that also generate profits, instead of gambling with the house and clients money?
Front paged, a clearly lobbyist written report, as if there is no other alternative. anyone remember that old fashioned banking where banks would loan money to new businesses, develop industries and all of that real economy stuff?
Unreal! Jesus, the models themselves are not even valid for many of these derivatives, what is it about the financial meltdown people do not understand or remember?
Quietly, China has nationalized the sole U.S. power plant producer of uranium by taking a 5% stake in a Hong Kong based producer. The situs and the stake make for complete control. At a time of its choosing China will cripple the power grid, attack the Pentagon (thousands of daily DoS attacks now), repatriate U.S Treasuries, control the mines in Afghanistan, close the Panama Canal (controlled by Chinese Overseas Shipping Company).
Two weeks ago, China demanded that encryption keys to all U.S. proprietary software be turned over. After the U.S. economy is crippled and darkened, the remaining U.S. nuclear plants will be starved of fuel. Of course, our able Secretary of Treasury got an another empty promise to gradual partial, maybe, we-got-our-fingers-crossed, devaluation.
The big question is not so much when, but how will a slow, stealth attack ever be perceived or opposed in a government filled with stooges.
NYTimes
"
HONG KONG — A company here that is partly owned by the Chinese government has quietly purchased a 5.1 percent stake in the only American-owned provider of enriched uranium for use in civilian nuclear reactors
"
http://www.nytimes.com/2010/06/19/business/global/19nuke.html
or get anywhere with improved safety, methods and regulation.
Right now we have corporations pointing fingers, obviously to avoid liability. With the beyond belief games going on, obviously over liability, lawsuits...
the fact they have black shit spewing into the gulf, destroying the Earth seems almost secondary.
I am beginning to despize public relations and attorneys.
It's not clear exactly if he was demoted, taken out of the spotlight or what, here is the story.
I guess BP thinks, as usual, it's all about lawyers and public relations, nothing about engineering, safety, and toxic sludge pouring into the gulf of Mexico.
Burton,
You're right about the chauvinism - exceptionalism perfecta. Welcome to Nigeria. At least in Ecuador, the government is fighting back. Can't wait for the fracking story. What a deal! Move to the burbs and your faucet breathes fire.
There's so much opportunity for this country, it's stunning. Yet the powers that be keep snatching defeat from the jaws of victory, consistently and blatantly.
They'll be gone at some point. I hope that they don't take us with them.
is the current burn & capture rate on the spill. They are waiting on ships to arrive to increase capacity (a clearly very stupid thing to not plan for early on).
This should extend the power of their subsidiary, Phibro, which has been active in that oil and energy (dramatically driving up prices) leveraged speculation.
Thank you. It was really just an excuse to post Mrs. Valerie Plame Wilson's photo.
One thing is for sure, whichever actress they select to play her in the movie of her book, can't be as attractive as she is!
(Semi-kidding about the reason for this post, of course.)
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