Recent comments

  • The entire globe had negative GDP (except for India and China who still enacting huge Stimulus), but I am saying that the infamous "that's socialism" cry, yes coming from Glenn Beck and other conservative people who don't know what they are talking about, is absurd. It's not socialism that cause the global recession, it's the Banksters and global finance, contagion, that did.

    Reply to: Why aren't these people in jail?   14 years 11 months ago
    EPer:
  • "The debate about fixing the financial crisis seems to be missing a key factor -- a broad ethical discussion of what is the right and wrong thing to do in a modern economy."

    And this an indictment of a lack of an even broader moral discussion of Western culture at large. Not so surprizing when religion is driven by its environment into a purely private sphere, eh?

    "You would think that the religious right would be best positioned, but they've sold out to the people who are doing the stealing."

    But here you have - at least in its public presentation - an utter self-abandonment by those most prominent in these precincts, the Dobsons, Colsons, Lands, and Neuhauses. So controlled by the behaviors they eschew have they become that they have either forgotten all about where they are grounded or they've managed successfully to rationalize it. Perhaps the very best illustration of this rather sad state of affairs was to be found in the dance James Dobson did when he announced his support of the Bush stem-cell decision in the Summer of 2001. Having day after day denounced government funding of stem-cell research on his radio program, Dobson turned on a dime with the Bush decision, one that contemplated such funding for certain stem cell lines. So important to him was his Republican identity that it crushed his alleged "Christian" underpinings. One was almost reminded of the razor sharp turn taken by Communist parties worldwide when Stalin announced his 1939 deal with Hitler. And the betrayal didn't end there, it continued on into his support for pre-emptive war and his curious silence on the morality of friend Ralph Reed's connections with convicted lobbyist, Jack Abramov. Dobson and the people that are identified with him at the leadership of today's Evangelical Christianity are an embarrassment to Jesus Christ. The parallels here to the ReichsChurch of 1930s Germany ought to be as clear as crystal.

    "What we need is a religious left. What ever happened to them?"

    No, what we need are honest-to-goodness Christians, those that transcend mere ideology, and there are many more of them than you might suspect.

    Reply to: Why aren't these people in jail?   14 years 11 months ago
    EPer:
  • I am not sure what you mean by distortions. Glen Beck? What the heck does that mean. Does he not like Sweden? Not sure what you mean?

    I still don't get the glen Beck thing???

    You and I agree on many things and I was only pointing out that other economies can preform just as well.

    Oh and BTW
    From the Stockholmnews. I guess even how did you say it, "Countries that are heavily socialist: Finland, Sweden, Norway, France, Canada" , even they are prone to economic downs.

    http://www.stockholmnews.com/search.aspx

    "2010-03-01
    Weakest GDP growth since 1945

    Sweden's GDP sank with 1,5 percent during the last quarter 2009. For the whole 2009 the GDP sank with 4,5 percent compared with 2008. This is the weakest GDP growth in Sweden since 1945. This according to Statistics Sweden. The new figures weakened the krona against the euro and the US Dollar."

    On the other hand, just keep chanting that the highly socialist countries have no problems....everyone has equal
    access ....to waiting in line.

    http://www.stockholmnews.com/more.aspx?NID=3865

    "Longer waiting time for health care
    News in short | 2009-08-29 | 1 comment
    In Stockholm County, 40 per cent of those waiting for treatment in June had to wait longer than what is stipulated by the so called ‘health care guarantee’. During July that number had grown to 59 per cent. But despite longer waiting time during the summer was this better than the same period last year. County commissioner for health care, Filippa Reinfeldt, says to daily Dagens Nyheter that the waiting time has halved in a year and that the centre-right majority will continue to reduce it. Dag Larsson of the political opposition says that the figures are very serious and indicates bad organisation skills."

    You can throw stones at me but when their own newspapers report it......I'm just say'in. Or is that a distortion that is not understandable?

    Reply to: Why aren't these people in jail?   14 years 11 months ago
    EPer:
  • It’s not just the press that puts the positive spin on the report. I listened to part of a House committee questioning the administrator whose department produces the report and found it interesting that the Democrats, which ostensively are the party of labor and the struggling classes, were doing their best to elicit testimony that the administration’s economic policies were working. It was the Republicans that were pointing out that TARP money was not impacting employment significantly. Neither cares about the unemployed. Each was trying to gain political advantage for elections. It was especially sad to see an African American representative ‘carrying the party’s water’, rather than the so many struggling people he argues he represents at election time.

    Legendary House leader Sam Rayburn would meet with freshmen representatives every two years and say: “The best way to get along is to go along.” The point: if you want a very nice lucrative career in the House just do and say what you are told. The party is a de facto corporation and like any corporation the workers must support the corporation or lose their jobs.

    But, I believe the Constitution is an incredibly brilliant document. It truly outlines the conditions for a democratic government (government of, by and for the people). In short, the people have the government that they want. No member of the government is there unless the people put them there. The really fascinating sociological question is why the people put into government those who do them so much harm? The writers of the Constitution seemingly never thought that the people would act so detrimentally against their own self interests – go figure!

    Reply to: Long-term unemployed caught in a perfect storm   14 years 11 months ago
    EPer:
  • Is our leadership really this bankrupt of ideas?

    They generally don't have ideas, at least any original ones. Anything that passes for an 'idea' that turns into a Bill is guaranteed to have been spawned by a lobbyist from the industry which the Bill will 'regulate', or perhaps it is a bill to guarantee that the industry never will have any constraints placed on it, whatsoever. In any event, it was decided this was 'the plan,' over lunch, you see.

    More to the particulars of your post, I know of an individual that was very recently given a mortgage on a single-family dwelling. As I make reference to some objective truths, I must caution I make no 'judgment' on this person's circumstances or how they got there, etc., but merely point them out so as to demonstrate the, seeming, absurdity of loaning any person in this financial condition money for a home, or anything else for that matter.

    10 yrs at same very low-skill job
    $15hr maxed out on pay scale and in grave danger of being retired early as this company, and the 'company' that it keeps, are so wont to do
    Absolutely NO credit history; the phone bill was used as a 'credit reference'.
    $0 in savings
    Struggling paycheck to paycheck with $600 mo rent

    Moreover this individual is now, by their own account, 'broke,' after the first month's payment. Despite a HUD, county, and city 'inspection,' it turns out the home needed a lot of other things. For instance, a suitable outlet so the stove could be plugged in, but I digress.

    My question is who in their right mind would NOT loan this individual money? As you have so aptly described in this post, assuming one were properly 'hooked up,' 'networked,' and, most importantly, so inclined, money can be loaned to same safe in the knowledge that not only will $ on the closing and 'down payment' (from .gov) be realized, but, most likely sooner rather than later, this house will be returned to its owners, whereby they can rinse and repeat this process on the next financially deficient/illiterate/handicap, along with the added benefit of hounding them for the rest of their lives, despite the fact that nearly the full loan amount (or perhaps more if some derivative bets lay on the side?) is guaranteed by the U.S. Taxpayer, and of course the derivative bets as well.

    So you do see, when viewed from the psychopath/socio-economic cannibal point of view, how all this does make perfect sense.

    Reply to: Enron Fun with Fannie and Freddie   14 years 11 months ago
    EPer:
  • The right to work and have a stable financial life should be a moral value in my view....

    just I guess this drives me nuts because so often (and i would claim this policy is liberal, not even Progressive), we get these sort of "social engineering" agendas where in reality they have already been proved to not work, even as intended.

    Whereas, we all have all sorts of policies to look at which have worked and even tweak those to a better platform, not only from the U.S., but other countries too.

    But ya get some ivy league group who thinks they know "better" than regular folk how to "engineer the world as it should be" in their view and no statistics, facts, evidence shall get in the way of whatever that belief is....

    but I think the deal here is I looked into these things in detail earlier and found out some intel, which I mentioned earlier, which makes my reaction so negative..

    but considering what's coming down the pike, I agree with your overall theme, we really do need overwhelming force against this financial Armageddon against the U.S. workforce, U.S. middle class...

    I mean from the beyond belief debt coming down the pike to the unbelievable MBS tally, plus Fannie/Freddie on the gov. books....

    BTW all, Roubini is warning on a double dip since 2010 GDP projections are now dipping below 1.5% (it takes over 2.5% to maintain the status quo).

    Reply to: "Overwhelming Force"   14 years 11 months ago
    EPer:
  • is how they melded those Draconian anti-women agenda items with religion and then managed to meld that to multinational corporate agendas.

    What's the Matter with Kansas describes this all pretty well.

    It also kind of kidnapped spirituality, religion for the rest of America too....

    Reply to: Why aren't these people in jail?   14 years 11 months ago
    EPer:
  • 90% of GDP means we are Argentina.

    Way to go! Hows all of that derivatives, free trade, labor arbitrage, offshore outsourcing, union busting bullshit working out fer ya? Oh yeah, pretty good, they can leave the country with all of their riches.

    Reply to: Budget deficits are revised   14 years 11 months ago
    EPer:
  • Once someone figures out a good way at approaching this issue, they are going to head a very powerful political movement. The question will be what they intend to do with it.

    The debate about fixing the financial crisis seems to be missing a key factor -- a broad ethical discussion of what is the right and wrong thing to do in a modern economy.
    This omission stands out at a time when a survey by the World Economic Forum, host of the glittering annual Davos summits of the rich and powerful, says two-thirds of those queried think the crunch is also a crisis of ethics and values.
    Voters in western countries may have a gut feeling that huge bonuses and bank bailouts are somehow unfair, but politicians seem unable to come up with a solid response that reflects it, according to a group trying to kickstart an ethics debate.
    "People have strong emotions about right and wrong - that sense of justice is hard-wired into the way we view the world," Madeleine Bunting, one of three founders of the Citizen Ethics Network launched in London last week, told Reuters.
    "Our politics have lost the capacity to connect with that kind of emotion," said Bunting, associate editor of Britain's Guardian newspaper.
    "Politics has become very technocratic and managerial, all about who's going to deliver more economic growth."

    The trick is how to approach this issue without moralizing. You would think that the religious right would be best positioned, but they've sold out to the people who are doing the stealing.
    What we need is a religious left. What ever happened to them?

    Reply to: Why aren't these people in jail?   14 years 11 months ago
    EPer:
  • Gee wiz, I am really wondering who is reading my stuff. I see the statistics, somebody is, yet in spite of pounding for a direct jobs program....seems to not be aware of my pounding activities. Makes me feel I am typing to the plan 9 of outer space!

    Uh, here, here, here.

    Reply to: "Overwhelming Force"   14 years 11 months ago
    EPer:
  • I'm sorry but much of those plans have no requirement on performance, skills, it's really just a waste.

    Now even the CCC, they were run like the military, if you didn't shape up, you were "shipped out". That's one of the reasons it was so successful, hell the military itself is one huge jobs program. (Why do I have to repeat this over and over?)

    Even the WPA, which was almost impossible to be fired from, had loads of work performance requirements, management...
    it wasn't just some "guarantee", each person had to perform...
    and that's why it too, was so successful.

    Even Voc Rehab, you have to perform, you just are not guaranteed free money with no metrics.

    Even worse, the people promoting this are really promoting what I said, they want every single person on this planet to be able to walk into the U.S. and obtain....a guaranteed "job".

    That would sink the U.S. worker in one shot.

    it's a very BAD idea of all of the ideas to get people back to work....I don't know why you keep pushing it when there are so many well thought out, will work, will add to the economy, will increase demand.

    Welfare is not true Keynesian, why you are saying that, I Just don't know.

    There is no way in hell, considering what can get passed, Congress is going to authorize a glorified state welfare program! None, it's bad enough we cannot get the well thought out AAM infrastructure, direct jobs policy passed intact.

    You cannot say anyone can "have a job" with out performance metrics for that job...else, everyone would of course want the job where one is guaranteed to have it, even if you only show up, refuse to do anything and go to sleep.

    Busy work is just a waste of funds too....pay $20 billion to have people just pick up trash or say clean some building with a toothbrush?

    Can you see the bureaucracy, fraud that will happen? It would be massive!

    What kind of long term skills does that give? What kind of value added is that?

    Reply to: "Overwhelming Force"   14 years 11 months ago
    EPer:
  • No way any of this is going to happen with Obama Administration - AAM, basic direct jobs program or direct jobs program + Job Guarantee.

    But here is more information on Job Guarantee:

    Centre of Full Employment - The Job Guarantee

    Its a guarantee to anyone LEGALLY entitled to work and its far more Keynesian than any of the bullshit coming out of Washington right now.

    RebelCapitalist.com - Financial Information for the Rest of Us.

    Reply to: "Overwhelming Force"   14 years 11 months ago
  • and if I remember correctly you dismissed that at first too (just saying). Job Guarantee or Employer Last Resort has been around for many years. A Job Guarantee is employing Americans who are unemployed.

    RebelCapitalist.com - Financial Information for the Rest of Us.

    Reply to: "Overwhelming Force"   14 years 11 months ago
  • I really cannot chase down all of your distortions and this is like having some sort of propaganda conversation with Glenn Beck, so I'll let someone else chase down this insanity.

    Reply to: Why aren't these people in jail?   14 years 11 months ago
    EPer:
  • It's not going to work and it's loaded with "globalization" agenda which actually has an opposite effect.

    Also, there is no way that's going to happen. What you need is the AAM infrastructure, direct jobs program. They have as a requirement, Buy American, Hire America and it's well thought out, they have all of their GDP multipliers, per project, long term economic growth projections...

    and these would be jobs which people would obtain skills on the job, they would be higher paying jobs....they would be "build America jobs"...

    way more bang for the buck.

    But there are some trying to claim we should "guarantee a job" for the entire friggin' globe with U.S. taxpayer dollars and come on, unless you cannot do second grade math, you know that guaranteeing a job for 1.5 billion people with a tax base of ~180 million, does not add up.

    Not when you cannot provide jobs for a workforce of about 154 million does that add up.

    Sorry but this just drives me nuts and defies any real labor economics (that hasn't been manipulated by those with "philosophies"!)

    Reply to: "Overwhelming Force"   14 years 11 months ago
    EPer:
  • or even moderation of neoliberal/conservative economic policies. That's exactly what the Obama Administration is doing with economic policy (including financial regulatory reform).

    RebelCapitalist.com - Financial Information for the Rest of Us.

    Reply to: "Overwhelming Force"   14 years 11 months ago
  • I also looked at the World Bank and Ireland did better than Sweden. So in your opinion they have a better lifestyle. Ya think their mostly homogeneous population have something to do with it. Not many gangs crossing their borders to sell drugs, no chicago land gang killings, they tend to all be of the same mind.

    Now if you want you can call the Swedish University of Agricultural Sciences and tell them their facts don't match your facts, go at it.

    http://www.slu.se/?id=784

    "For many years, Sweden was ethnically very homogeneous. One special exception is an ethnic and linguistic minority in the north, 15,000 of the Sami people (Lapps), some of whom still make their living by herding reindeer. During the 1960s and 1970s more than half a million immigrants moved to Sweden to work, mostly people from Finland but also people from the Balkan countries, Greece and other countries. In addition, Sweden has received refugees from many troubled corners of the world and still re¬ceives refugees in acute need of protection.

    Or I guess you can fight that the World Book Dictionary definition of Socialism is wrong.

    Or I guess you can fight with the World Bank
    Global Purchasing Power Parities and Real Expenditures
    Per capita GDP in USD
    ICP Global Result
    OECD-EUROSTAT,
    Sweden 39,621
    Ireland 48,405
    United States 41,674

    New jobs created in the USA? We are screwed because they moved them to another country.

    Maybe you didn't mean me because I didn't call Sweden a Socilist State. My first paragraph was a definition of Socalism. I went back and I could not find where I called Sweden Socialist.

    If anyone came close to calling them Socialist it was you. In your post you said, "Countries that are heavily socialist: Finland, Sweden, Norway, France, Canada."

    Economies of the world all ebb and flow. One year someone can be top dog and the next year another can be top dog.

    You bring up Medicare? Guess who denies more claims than any insurance company. A clue...they are in the first sentence.

    Medicaid, that wonder system that pays providers almost nothing for services.

    With high health insurance premiums, there is nobody standing with a gun to collect from me. With taxes, at the very end is a man with a gun, with the full force of the USA to collect from you.

    I know how much you love the government but how ya lovi'n them now with all their bail outs? And there "ain't" one darn thing you can do to stop them. That is what the force of government is about.....power.

    Seems to be a few cracks in that there Sweden health care model. Since you like Wiki the article writer was mentioned:

    http://en.wikipedia.org/wiki/National_Center_for_Public_Policy_Research

    "David Hogberg, Ph.D., who oversees health care/Social Security programs; and Ryan Balis, who oversees United Nations studies."

    Of course you will poo poo his entire footnoted analysis because he is conservative. And we all know a conservative analysis is ALWAYS wrong.

    http://www.nationalcenter.org/NPA555_Sweden_Health_Care.html

    "Görann Persson had to wait eight months during 2003 and 2004 for a hip replacement operation. Persson was not considered to be a very pleasant person to begin with, and he became even grumpier due to the pain he endured while waiting for his operation. As a result, Persson walked with a limp, reportedly used strong pain medication and had to reduce his workload.20

    What made Persson unique was not his wait for hip surgery. Despite the government promise that no one should have to wait more than three months for surgery, 60 percent of hip replacement patients waited longer than three months in 2003 (see Figure 2).21 Rather, Persson stood out because he was Prime Minister of Sweden at the time.

    Swedes who do not have private insurance must wait, often for months, for treatment. For all Swedes who needed an operation in 2003, slightly more than half waited more than three months (see Figure 2).22 The situation continues. Moreover, patients often wait in great pain and distress.

    Conclusion

    While Sweden is a first world country, its health care system - at least in regards to access - is closer to the third world. Because the health care system is heavily-funded and operated by the government, the system is plagued with waiting lists for surgery. Those waiting lists increase patients' anxiety, pain and risk of death.

    Sweden's health care system offers two lessons for the policymakers of the United States. The first is that a single-payer system is not the answer to the problems faced as Americans. Sweden's system does not hold down costs and results in rationing of care."

    Darn if the writer didn't footnote
    1 "The World Factbook," Central Intelligence Agency.

    As one gentleman that works for the UK's NICE said, "health care dollars are finite and people should learn to accept shortages." Shortages of money, doctors, etc. is a common thread in those Nationalized plans. Finite dollars is something that American's have yet to face.

    Now I'm off to have a nice glass of Cabernet.

    Reply to: Why aren't these people in jail?   14 years 11 months ago
    EPer:
  • this is a good topic in and of itself.

    I personally know of more than one person, displaced by a H-1B guest worker, then facing financial ruin, who killed themselves and even wanted it publicized why they did.

    I have a tendency to not publicize that because I do not want that promoted and it also pisses me off.....because Wall Street, these corporations probably applaud such acts, they have no souls....so that person is just helping the bastards out in reeking more havoc upon the lives of working people.

    That said, this is real and people are being suffering, this continual abuse of the U.S. worker is literally killing people.

    But getting an estimate of just how many are falling off of the money and count cliff, into the poverty void....

    I went through a bunch of this stuff last month, but this month, just a couple of graphs...

    so estimating how many fell into the pool of the damned...

    critical. You can see from one of the graphs I posted, we have a record happening in those unemployed for greater than 27 weeks.

    I also did a call out on the headline rhetoric, but you know what, beyond the news aggregators, almost every single finance/economic blogger out there caught that this was crap, which is a good sign.

    BTW: Rate my post on it up and I'll rate yours up...

    for this site I cannot think of anything more important that what is happening to working America, so having two posts on this, front paged, is a good thing.

    Reply to: Long-term unemployed caught in a perfect storm   14 years 11 months ago
    EPer:
  • "That would include the downtrodden an like me, those self employed, overwhelmed people, from Local, State and Federal government regulations. To the point that I am sure, each day there is an obscure broken law that gets broken."

    This whole idea of a "peoples' moment" is, I believe, something most properly seen in pointed contrast to the condition of the "present moment", which I hope you'd agree is something decidedly a-people or anti-people. And it has to do more with a response to present patterns of governance than it does with the fact that we're governed per se. Therefore, the locus of the problem is not to be seen in structures but rather in corrupt, self-serving human beings, that is to say not in the state, but in those who have come to control the state in all of its aspects.

    Reply to: Why aren't these people in jail?   14 years 11 months ago
    EPer:
  • Calculated Risk sums it up, amounts to
    Frank: Not guaranteed free money
    Treas: Oh course it's guaranteed free money

    Could your post have promoted this media snowing?

    Let's hope so!

    Also, don't forget to link over to EP as an "originally posted on" when cross posting to other sites.

    I'd say this is a problem for so many blogs, but at the same time, it's certainly how I located great insight/writers, when they cross posted.

    George Washington's blog is one and should i add it to the middle column?

    Reply to: Enron Fun with Fannie and Freddie   14 years 11 months ago
    EPer:

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