Antonio Fatas via Greg Mankiw's review of Piketty's book by Deirdre McCloskey:
"While I said I did not want to go into the details of the review, there was one that I found very surprising. The review argues that while income inequality might have increased, consumption inequality is a lot lower. One of the reasons is that the actual consumption of those who own six houses is not that different from those who own one as you can only live in one house at a time. That's an odd argument. If taken seriously it provides support from those on the 'left' who argue for very high levels of taxation for the rich. Let's tax 100% of the value of those 5 extra houses given that they are not providing any consumption or welfare to those who own them."
there's a lot more to cover in almost every economic release than anyone has time for, especially if we're trying to write a bit about each one...i've decided to focus on prices of food, clothing, gasoline, and gadgets in this report because that's something most people can relate to..
I am aware that the Net has so few editors to check for errors, but a so-called journalist ought to be able to conjugate verbs. "Had ran" which is an error in this piece, despite the value or invalidity of its message, so distracts the reader from the message as to force us to conclude the journalist is ignorant, which, I'm sure, isn't the case. Watch your language, especially if you're trying to convince others of your point of view.
Hopefully I'll get to some regionals because there are many areas in the country now where one just cannot afford to live but it doesn't show in the national indexes.
The U.S. Is that very rare thing, a judicial dictatorship. Even short periods of Democratic control of the Senate fail to change the right wing majority on the Supreme Court.
So why don't Democrats learn the obvious lesson. Focus on states rights, cut back on Federal spending which goes to Republican areas and spend the money in places where Democrats rule. At the moment the Right are being given a free pass. Their supporters get the benefits without
Providing support. Of course, the big mistake was not allowing the South to secede so it could rot in poverty.
This might be worth digging into further. DCJ is thorough and finds the most telling pieces of financial data so if he's writing about it, it's worth looking at. He's awesome.
"Each of the top 400 paid tax at the same rate as a single worker making $80,000 in 2010 ... These figures from an IRS report released Friday show how much government policy has helped those at the top amass even larger fortunes thanks to lower tax rates. It also shows how far the United States has moved away from the ancient principle of progressive taxation ... The annual top 400 report by the IRS significantly understates incomes at the very top in America because Congress lets some people defer reporting their income — and therefore paying their taxes — for years or even decades. These deferrals are the equivalent of a zero interest loan from the government of the amount of tax deferred. Several dozen Americans, disclosure documents show, earn annual incomes of $1 billion or more. But they do not show up in the top 400 reports because Congress does not require them to report their full incomes or pay taxes immediately. For cash to live on these people typically borrow against their assets, paying interest rates of 2 percent or less."
Unfortunately good mathematics goes out the window when it comes to immigration. The EPI is funded by labor unions and for God knows why, they want to unionize the illegals and thus push for amnesty.
So, this is full of it, not worth posting. It is so frustrating to see statistics, labor economics perverted for political purposes.
roblem is most of the GOP is bought and paid for and wants cheap labor globalization, outsourcing just as much as Dems do.
Both parties abandon the U.S. worker per their corporate donor demands.
The author believes that the Democrats have a strategy to marginalize Elizabeth Warren to better promote Hillary Clinton; but that Rand Paul might run to beat Clinton in 2016 — and to the dismay of the more neo-conservatives. (And then maybe the new Congress might obstruct Rand Paul the same way they did Obama.)
"The Huffington Post published an article detailing how the Democrat establishment had already made its move to cleverly neuter Warren by giving her more power within the Senate. For example:
'Throughout Senate history, individual members have often steered away from leadership positions, worried that the horse-trading and consensus-gathering that leadership involves would neuter their power. But the Senate has been evolving in recent years into a much more leadership-driven institution, in which individual senators and even chairmen have less power than they once did compared to caucus leadership. Today, decisions that would have been made in side negotiations, in committee or on the floor are instead made by leadership ... It’s those meetings that Warren will now be a part of. At the same time, she will diminish her ability to maintain that inside position if she criticizes the party from the outside. That dilemma, however, has been with her every step of her career, as she has moved closer to the center of power.'
We’ll see how this turns out, but it looks to me that the Democrats are giving her [Warren] a sense of importance so she 'plays ball'. Particularly when it comes to 2016."
Jared Bernstein (Joe Biden's former economic adviser) writes: The economic shampoo cycle (bubble, bust, repeat) is underway. He mentions that there was a hostile takeover bid by a hedge fund. The deal fell apart, but the hedge fund still walked away with over $2 billion in profit. http://jaredbernsteinblog.com/when-minsky-raises-an-eyebrow-i-pay-attent...
None of those presidents has ever abused their media control to blast individuals in congress. Imagine what would happen with a tattletale president moaning about whoever for whatever reason.
"Dear American people, such and such hates how good your life is, and wants more money. Such and such thinks you shouldn't have the right to choose anything for yourself, blah blah blah."
Most interesting in that states where raising the minimum wage was on the ballot it passed with flying colors while they voted in GOP who reject minimum wage. Super blue Oregon voted almost 80% against illegals getting driver's licenses yet voted in an obviously corrupt liberal governor.
What I get out of this is people do not want what Obama keeps pushing but they don't want what the GOP keeps pushing either. In other words, if we had true representation, instead of corporate money pushing and saturating the airwaves so instead of elections we get mass psychology manipulation hysteria.
The core problem, IMO, that Americans are facing is the way wages are dropping relative to productivity- http://politicsthatwork.com/graphs/wages-as-a-percentage-of-productivity
There are two main things eating up the rest of the productivity: employer profit taking and the cost of benefits-http://politicsthatwork.com/graphs/division-of-productivity
Only the Democrats can even talk about either of those things and they have a whole laundry list of ways to solve each of them. They just need to put that message out there to the people loudly and clearly.
Same problem with H1B, both parties love it, yet half my friends that I graduated with in CSC can't find jobs because employers are unwilling to train junior level developers if they can get workers from overseas for cheap...I wish I had majored in something other than STEM.
Thanks for writing this,
a hundred years ago we would have revolted till death,
today they will take until we are all dead.
Did you know USA has the largest active mass grave.
Every major city in this country has millions burnt and thrown in a pit together.
They are called homeless and its what happens when you cant afford to work in America anymore
you die outside in the streets, you get robbed of id and you at end a john doe
at the city morgue being cooked in mass grave with millions of others in the city.
Over ten million a year. That would make the USA the largest mass grave in the history of mankind.
You want to know where the poor end up? In a mass grave, burnt by the federal government.
Weird how the poor disappear every season after sleeping outside in the snow.
Nobody cares where they go cause the all die outside as john/jane does. Millions!
...for the English lesson and for referring to me as a "so-called journalist". Maybe one day I might be ;)
Antonio Fatas via Greg Mankiw's review of Piketty's book by Deirdre McCloskey:
"While I said I did not want to go into the details of the review, there was one that I found very surprising. The review argues that while income inequality might have increased, consumption inequality is a lot lower. One of the reasons is that the actual consumption of those who own six houses is not that different from those who own one as you can only live in one house at a time. That's an odd argument. If taken seriously it provides support from those on the 'left' who argue for very high levels of taxation for the rich. Let's tax 100% of the value of those 5 extra houses given that they are not providing any consumption or welfare to those who own them."
http://fatasmihov.blogspot.com/2014/11/is-0-growth-for-90-successful-eco...
there's a lot more to cover in almost every economic release than anyone has time for, especially if we're trying to write a bit about each one...i've decided to focus on prices of food, clothing, gasoline, and gadgets in this report because that's something most people can relate to..
I am aware that the Net has so few editors to check for errors, but a so-called journalist ought to be able to conjugate verbs. "Had ran" which is an error in this piece, despite the value or invalidity of its message, so distracts the reader from the message as to force us to conclude the journalist is ignorant, which, I'm sure, isn't the case. Watch your language, especially if you're trying to convince others of your point of view.
Hopefully I'll get to some regionals because there are many areas in the country now where one just cannot afford to live but it doesn't show in the national indexes.
The U.S. Is that very rare thing, a judicial dictatorship. Even short periods of Democratic control of the Senate fail to change the right wing majority on the Supreme Court.
So why don't Democrats learn the obvious lesson. Focus on states rights, cut back on Federal spending which goes to Republican areas and spend the money in places where Democrats rule. At the moment the Right are being given a free pass. Their supporters get the benefits without
Providing support. Of course, the big mistake was not allowing the South to secede so it could rot in poverty.
This might be worth digging into further. DCJ is thorough and finds the most telling pieces of financial data so if he's writing about it, it's worth looking at. He's awesome.
By David Cay Johnston
"Each of the top 400 paid tax at the same rate as a single worker making $80,000 in 2010 ... These figures from an IRS report released Friday show how much government policy has helped those at the top amass even larger fortunes thanks to lower tax rates. It also shows how far the United States has moved away from the ancient principle of progressive taxation ... The annual top 400 report by the IRS significantly understates incomes at the very top in America because Congress lets some people defer reporting their income — and therefore paying their taxes — for years or even decades. These deferrals are the equivalent of a zero interest loan from the government of the amount of tax deferred. Several dozen Americans, disclosure documents show, earn annual incomes of $1 billion or more. But they do not show up in the top 400 reports because Congress does not require them to report their full incomes or pay taxes immediately. For cash to live on these people typically borrow against their assets, paying interest rates of 2 percent or less."
http://america.aljazeera.com/opinions/2014/11/taxes-rates-wealthyirsdata...
Unfortunately good mathematics goes out the window when it comes to immigration. The EPI is funded by labor unions and for God knows why, they want to unionize the illegals and thus push for amnesty.
So, this is full of it, not worth posting. It is so frustrating to see statistics, labor economics perverted for political purposes.
roblem is most of the GOP is bought and paid for and wants cheap labor globalization, outsourcing just as much as Dems do.
Both parties abandon the U.S. worker per their corporate donor demands.
http://www.nytimes.com/2014/11/21/business/falling-wages-at-factories-sq...
SOURCE:
http://libertyblitzkrieg.com/2014/11/18/this-is-why-rand-paul-is-hilary-...
The author believes that the Democrats have a strategy to marginalize Elizabeth Warren to better promote Hillary Clinton; but that Rand Paul might run to beat Clinton in 2016 — and to the dismay of the more neo-conservatives. (And then maybe the new Congress might obstruct Rand Paul the same way they did Obama.)
"The Huffington Post published an article detailing how the Democrat establishment had already made its move to cleverly neuter Warren by giving her more power within the Senate. For example:
'Throughout Senate history, individual members have often steered away from leadership positions, worried that the horse-trading and consensus-gathering that leadership involves would neuter their power. But the Senate has been evolving in recent years into a much more leadership-driven institution, in which individual senators and even chairmen have less power than they once did compared to caucus leadership. Today, decisions that would have been made in side negotiations, in committee or on the floor are instead made by leadership ... It’s those meetings that Warren will now be a part of. At the same time, she will diminish her ability to maintain that inside position if she criticizes the party from the outside. That dilemma, however, has been with her every step of her career, as she has moved closer to the center of power.'
We’ll see how this turns out, but it looks to me that the Democrats are giving her [Warren] a sense of importance so she 'plays ball'. Particularly when it comes to 2016."
Obama’s Executive Action on Immigration Will Improve the Wages and Working Conditions of Unauthorized Immigrants and U.S.-Born Workers Alike
http://www.epi.org/blog/president-obamas-executive-action-on-immigration...
She has to, especially in that God forsaken corporate bought and paid for institution. if she doesn't, she'll get very little for her state.
Bernie Sanders is a good example of how to play ball and not lose one's integrity but even he has made some outrageous votes in the last few years.
Jared Bernstein (Joe Biden's former economic adviser) writes: The economic shampoo cycle (bubble, bust, repeat) is underway. He mentions that there was a hostile takeover bid by a hedge fund. The deal fell apart, but the hedge fund still walked away with over $2 billion in profit.
http://jaredbernsteinblog.com/when-minsky-raises-an-eyebrow-i-pay-attent...
He leaves these two links:
New York Times (Nov. 17, 2014): Ackman Has Luck of a Loser, to the Tune of $2.2 Billion
http://dealbook.nytimes.com/2014/11/17/the-luck-of-a-loser-to-the-tune-o...
New York Times (Nov. 17, 2014): One of the biggest booms ever in mergers and acquisitions is currently underway (billions spent on buying other companies instead of raising wages).
http://dealbook.nytimes.com/2014/11/17/mega-mergers-popular-again-on-wal...
None of those presidents has ever abused their media control to blast individuals in congress. Imagine what would happen with a tattletale president moaning about whoever for whatever reason.
"Dear American people, such and such hates how good your life is, and wants more money. Such and such thinks you shouldn't have the right to choose anything for yourself, blah blah blah."
Most interesting in that states where raising the minimum wage was on the ballot it passed with flying colors while they voted in GOP who reject minimum wage. Super blue Oregon voted almost 80% against illegals getting driver's licenses yet voted in an obviously corrupt liberal governor.
What I get out of this is people do not want what Obama keeps pushing but they don't want what the GOP keeps pushing either. In other words, if we had true representation, instead of corporate money pushing and saturating the airwaves so instead of elections we get mass psychology manipulation hysteria.
The core problem, IMO, that Americans are facing is the way wages are dropping relative to productivity- http://politicsthatwork.com/graphs/wages-as-a-percentage-of-productivity
There are two main things eating up the rest of the productivity: employer profit taking and the cost of benefits-http://politicsthatwork.com/graphs/division-of-productivity
Only the Democrats can even talk about either of those things and they have a whole laundry list of ways to solve each of them. They just need to put that message out there to the people loudly and clearly.
Same problem with H1B, both parties love it, yet half my friends that I graduated with in CSC can't find jobs because employers are unwilling to train junior level developers if they can get workers from overseas for cheap...I wish I had majored in something other than STEM.
Thanks for writing this,
a hundred years ago we would have revolted till death,
today they will take until we are all dead.
Did you know USA has the largest active mass grave.
Every major city in this country has millions burnt and thrown in a pit together.
They are called homeless and its what happens when you cant afford to work in America anymore
you die outside in the streets, you get robbed of id and you at end a john doe
at the city morgue being cooked in mass grave with millions of others in the city.
Over ten million a year. That would make the USA the largest mass grave in the history of mankind.
You want to know where the poor end up? In a mass grave, burnt by the federal government.
Weird how the poor disappear every season after sleeping outside in the snow.
Nobody cares where they go cause the all die outside as john/jane does. Millions!
...Obama himself
http://alantonelson.wordpress.com/2014/11/18/im-politic-executive-amnest...
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