Happy Holidays Johnny! I hope your health gets better. That's a real bummer on the radio flyer wagon, one of the child mainstays, although trying to keep your cats in the wagon to pull along is assuredly a challenge, hamsters too!
Play is actually a lot of skills training for adulthood, so video games, I really wonder what they are training for?
Not for herding cats obviously.
I'd say that's the analogy, your radio flyer now made out of cheap plastic with wheels that won't make it down the driveway.
Anyone reading this, unfortunately the death and suicide rate increases during the holidays and I think that says everything.
Another thing that says everything is how many high quality movies open tomorrow. There obviously is a huge population who goes to the movies on Christmas day. Sounds good to me!
So, I Hope everyone makes their own holiday and throws off whatever you had been sold should be the tradition.
You know the candy makers made up Valentine's day...
The size of the global work force is estimated at 2.93 billion (reference pdf)
So, 25 million is about 0.85% but that's not what the report says. That's in addition to the current unemployment rates. Currently they are saying the global unemployment rate is 1.42% so add to that 0.85% and it becomes more relevant. global unemployment numbers
I'm also calculated based on estimates. You know that 25million is going to be spread primarily in 1st world countires, like the U.S., EU countries, Great Brittan and a few EEs (emerging economies).
Last rough tally I saw on the total US workforce population was about 100 million.
That's only a global rate of .3%. That's ridiculous.
Ok, let's say half the people on the planet are unable to work, and should therefore not be counted as part of the labor force, that's still an overall unemployment rate of .6%.
I'd say it should be closer to 750 million unemployed/underemployed.
I voted for Chuck Baldwin for this specific reason- if we're going to have faith based economics, let's at least be open about it being based on FAITH rather than science.
-Single fixed interest rate per account (no charging less for balance transfers, more for cash at the ATM, and variable rates that change at the drop of a hat).
-usury rates set at (CPI-1%), and if your account charges more than that, it automatically goes DOWN to that level and cannot be reinstated to a higher rate
-Mandatory unemployment/death insurance on all unsecured debt, to prevent them from ever needing to ask for a bailout again
-Opt-in instead of opt-out "pre-approval" on credit rating agencies.
These four changes would certainly end *most* of the worst behavior- and downright close many companies (especially that kind of usury rate, which would give investors much better places to put their money)
I've been wondering the same thing. Chrysler basically failed when it was acquired and why they are included is a very good question.
On the other hand, if former Treas. Secretary Snow hadn't been an insider, I wonder if GM would have gotten anything.
But overall, this "bailout" seems to be propping up the executive/investor class and they are simply sucking money out of taxpayer's pockets because it's the last place to suck away money from the middle class.
Paying full price for their CDOs. What is worse, is most Americans I don't think can track on what's going on here.
It's bad enough for those who financial acumen to figure out what's really going on.
Great analysis middle. I think those in Congress have little clue on how the auto industry even works. As far as I know they OEM, most of their cars and the plants are often assembly. I know they have 3rd parties supplying everything from mirrors to DVD players and I believe even engine parts, transmissions are OEmed.
One section of the chain goes then they all go, like dominoes.
Why your post is so great is most people are completely unaware that these foreign controlled domestic companies support the bail out of their competitors.
Teddy Roosevelt came up with the Estate Tax as one way to deal with the country's slide towards plutocracy. I'm thinking that raising the Estate Tax (let's rename it the Economic Dynasty Tax) to, say, 75% on estates over $5 million would be a good start.
Of course, this won't sate our immediate lust for Wall Street blood today. I'm hoping shareholder lawsuits and SEC investigations under the new administration will uncover some buried treasure.
And we wonder why our economy is in shambles - these companies drive everything, from replacing us with foreign workers through the H1B/L1 visa programs. This really sucks.
Herman Daly are two others that come to mind in talking about a national strategy and creation of trade, economic policies in the national interest. Every other nation has a national economic strategy, grows certain industries (Airbus is a well known example).
Honestly I think the reason we do not have a manufacturing policy, industrial is they simply didn't buy off enough politicians in D.C. like the financial sector did.
I'm just glad to see more in the blogosphere wake up and start writing on how we need a strong manufacturing, industrial policy. If only they were writing about this on the front page during the primaries.
We have Obama's Goolsbee and others who are clinging to many of those practices. I wonder if any of them has even bothered to read an actual trade agreement including Obama's USTR pick?
I'm starting to like this Barry Ritholtz, dead on!
I first encountered the Chicago theory in law school. The Chicagoists somehow read into law a market efficiency component that was never there. I recoiled against it — not because of the libertarianism, which I embraced. Rather, it seemed a backdoor way to circumvent democracy, and force into the legal system rules that were never debated, voted on, or agreed to by a representative government. I found the extremist legal theories of Judges like Richard Posner and Frank Easterbrook intellectually repulsive. They were undemocratic, anti-representative government. When I told a professor that the law and economics movement was an attempt at a political coup, he laughed and said, try to stop it
When are we going to have the make it go school of economics? That's my motto, what works and by the statistics and history figure out what works and what does not. Get these philosophy kings who are simply reinventing some religion or justification for their own unbridled greed and power grab where they belong for so often they are spewing pure fiction.
They aren't doing any particular philosophy, it's simply special interests, corporate lobbyists running the government. I think "centrist" means someone who will enact all things corporate lobbyists want them to.
I'm now convinced that there aren't very many truly principled liberals or conservatives in the United States. Instead, we've got rulership of the criminal class.
What ever happened to liberals being for liberty, and conservatives being for CONSERVATION?!?!?!? Instead, we've got everybody being for their own personal profit.
According to what I have read elsewhere, these activities were performed in full view of the nation. In fact, the nation voted to confirm these activities in the 2004 election.
I have also read that Dick Cheney and Grover Norquist made no bones that this was their goal and that they were pursuing it at full speed.
Back during the Reagan years, when it was fashionable to have a military service record, John Boehner was claiming he had "served" in the US Navy during Vietnam (1968). In fact, he once had it listed on his congressional bio.
Sadly, Boehner, as usual, is always the fraud. As it is a felony to fraudulently claim military service, and one had to have at least six months active duty to do so at that time, Boehner's having made it only HALFWAY through Navy boot camp - getting kicked out for bedwetting - didn't qualify him to claim ANY military service.
It really reminds me of the aristocracy of the 18th century, even the 19th. This has nothing to do with competence, global growth and any of that. They feed their own.
Angelo R. Mozilo, whose Countrywide Financial came to symbolize the failings of the mortgage industry, took home more than half a billion dollars from 1998 to 2007, including $121.7 million from cashing in options last year alone. Charles O. Prince, who led Citigroup to the brink of disaster, was awarded a retirement deal worth $28 million. Now, in a show of purported restraint, top Wall Street executives are going without bonuses.
If you're angry that so many executives got paid so much for screwing up so spectacularly, you might take solace in the fact that shares they still hold have lost value, too. But if you think executive pay is finally succumbing to the force of gravity -- if you'd like to believe that an epic destruction of investor wealth will fundamentally and permanently change the way chief executives are paid, or that you, dear shareholder, have the power to join forces with others just like you and create a more rational order -- don't bet on it. http://www.washingtonpost.com/wp-dyn/content/article/2008/12/20/AR200812...
They're asking for another four years -- in a just world, they'd get 10 to 20 ~~ Dennis Kucinich
...I guess them Japanese can't sell cars without financing neither.
OT: Listening to Sen. Berny Sanders to night and he said the only chance the nation has to survive if simultaneously with the Obama admin comes in is if the citizenry rises up and demands that the Dem Leader$hip start moving towards rebuilding our manufacturing infrastructure and take other actions to bolster the middle class. Otherwise they are gonna sit on their hands. He also has some great cracks about how Senators have no problem with some 30 year old derivatives trader make $10 Billion a month but are 'outraged...outraged that an auto worker would make $60k.
Happy Holidays Johnny! I hope your health gets better. That's a real bummer on the radio flyer wagon, one of the child mainstays, although trying to keep your cats in the wagon to pull along is assuredly a challenge, hamsters too!
Play is actually a lot of skills training for adulthood, so video games, I really wonder what they are training for?
Not for herding cats obviously.
I'd say that's the analogy, your radio flyer now made out of cheap plastic with wheels that won't make it down the driveway.
Anyone reading this, unfortunately the death and suicide rate increases during the holidays and I think that says everything.
Another thing that says everything is how many high quality movies open tomorrow. There obviously is a huge population who goes to the movies on Christmas day. Sounds good to me!
So, I Hope everyone makes their own holiday and throws off whatever you had been sold should be the tradition.
You know the candy makers made up Valentine's day...
The size of the global work force is estimated at 2.93 billion (reference pdf)
So, 25 million is about 0.85% but that's not what the report says. That's in addition to the current unemployment rates. Currently they are saying the global unemployment rate is 1.42% so add to that 0.85% and it becomes more relevant. global unemployment numbers
I'm also calculated based on estimates. You know that 25million is going to be spread primarily in 1st world countires, like the U.S., EU countries, Great Brittan and a few EEs (emerging economies).
Last rough tally I saw on the total US workforce population was about 100 million.
That's only a global rate of .3%. That's ridiculous.
Ok, let's say half the people on the planet are unable to work, and should therefore not be counted as part of the labor force, that's still an overall unemployment rate of .6%.
I'd say it should be closer to 750 million unemployed/underemployed.
I voted for Chuck Baldwin for this specific reason- if we're going to have faith based economics, let's at least be open about it being based on FAITH rather than science.
As long as conditions of the bailout include:
-Single fixed interest rate per account (no charging less for balance transfers, more for cash at the ATM, and variable rates that change at the drop of a hat).
-usury rates set at (CPI-1%), and if your account charges more than that, it automatically goes DOWN to that level and cannot be reinstated to a higher rate
-Mandatory unemployment/death insurance on all unsecured debt, to prevent them from ever needing to ask for a bailout again
-Opt-in instead of opt-out "pre-approval" on credit rating agencies.
These four changes would certainly end *most* of the worst behavior- and downright close many companies (especially that kind of usury rate, which would give investors much better places to put their money)
I've been wondering the same thing. Chrysler basically failed when it was acquired and why they are included is a very good question.
On the other hand, if former Treas. Secretary Snow hadn't been an insider, I wonder if GM would have gotten anything.
But overall, this "bailout" seems to be propping up the executive/investor class and they are simply sucking money out of taxpayer's pockets because it's the last place to suck away money from the middle class.
Paying full price for their CDOs. What is worse, is most Americans I don't think can track on what's going on here.
It's bad enough for those who financial acumen to figure out what's really going on.
Great analysis middle. I think those in Congress have little clue on how the auto industry even works. As far as I know they OEM, most of their cars and the plants are often assembly. I know they have 3rd parties supplying everything from mirrors to DVD players and I believe even engine parts, transmissions are OEmed.
One section of the chain goes then they all go, like dominoes.
Why your post is so great is most people are completely unaware that these foreign controlled domestic companies support the bail out of their competitors.
Teddy Roosevelt came up with the Estate Tax as one way to deal with the country's slide towards plutocracy. I'm thinking that raising the Estate Tax (let's rename it the Economic Dynasty Tax) to, say, 75% on estates over $5 million would be a good start.
Of course, this won't sate our immediate lust for Wall Street blood today. I'm hoping shareholder lawsuits and SEC investigations under the new administration will uncover some buried treasure.
And we wonder why our economy is in shambles - these companies drive everything, from replacing us with foreign workers through the H1B/L1 visa programs. This really sucks.
Herman Daly are two others that come to mind in talking about a national strategy and creation of trade, economic policies in the national interest. Every other nation has a national economic strategy, grows certain industries (Airbus is a well known example).
Honestly I think the reason we do not have a manufacturing policy, industrial is they simply didn't buy off enough politicians in D.C. like the financial sector did.
I'm just glad to see more in the blogosphere wake up and start writing on how we need a strong manufacturing, industrial policy. If only they were writing about this on the front page during the primaries.
We have Obama's Goolsbee and others who are clinging to many of those practices. I wonder if any of them has even bothered to read an actual trade agreement including Obama's USTR pick?
The Bloomberg article is also worth reading.
I'm starting to like this Barry Ritholtz, dead on!
When are we going to have the make it go school of economics? That's my motto, what works and by the statistics and history figure out what works and what does not. Get these philosophy kings who are simply reinventing some religion or justification for their own unbridled greed and power grab where they belong for so often they are spewing pure fiction.
They aren't doing any particular philosophy, it's simply special interests, corporate lobbyists running the government. I think "centrist" means someone who will enact all things corporate lobbyists want them to.
I'm now convinced that there aren't very many truly principled liberals or conservatives in the United States. Instead, we've got rulership of the criminal class.
What ever happened to liberals being for liberty, and conservatives being for CONSERVATION?!?!?!? Instead, we've got everybody being for their own personal profit.
According to what I have read elsewhere, these activities were performed in full view of the nation. In fact, the nation voted to confirm these activities in the 2004 election.
I have also read that Dick Cheney and Grover Norquist made no bones that this was their goal and that they were pursuing it at full speed.
and what amazes me constantly on health care is how few write, post (except Frontline) how the US pays 8 times more than other nations.
Did he even add the now $8 trillion in pledges from the Fed/Treasury in this?
I was outraged at the Iraq war cost and everything now looks like peanuts.
OECD.
They are not painting a rosy picture here.
This is until 2010 and they are also predicting a weak recovery at the end of 2009 and growth in 2010.
Back during the Reagan years, when it was fashionable to have a military service record, John Boehner was claiming he had "served" in the US Navy during Vietnam (1968). In fact, he once had it listed on his congressional bio.
Sadly, Boehner, as usual, is always the fraud. As it is a felony to fraudulently claim military service, and one had to have at least six months active duty to do so at that time, Boehner's having made it only HALFWAY through Navy boot camp - getting kicked out for bedwetting - didn't qualify him to claim ANY military service.
Boehner, always the fraud.....
It really reminds me of the aristocracy of the 18th century, even the 19th. This has nothing to do with competence, global growth and any of that. They feed their own.
They're asking for another four years -- in a just world, they'd get 10 to 20 ~~ Dennis Kucinich
...I guess them Japanese can't sell cars without financing neither.
OT: Listening to Sen. Berny Sanders to night and he said the only chance the nation has to survive if simultaneously with the Obama admin comes in is if the citizenry rises up and demands that the Dem Leader$hip start moving towards rebuilding our manufacturing infrastructure and take other actions to bolster the middle class. Otherwise they are gonna sit on their hands. He also has some great cracks about how Senators have no problem with some 30 year old derivatives trader make $10 Billion a month but are 'outraged...outraged that an auto worker would make $60k.
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