4 Facts That Prove The EFSF Doesn't Matter At All [View article]
More interesting as an alternative Fact #4 is your comment that "Even the more “rock solid” countries such as Germany (who is supposed to save Europe apparently) have REAL Debt to GDP ratios of over 200% and STILL HAVEN’T RECAPITALIZED THEIR BANKS." In light of the Rogoff study and it findings, this is truly bad news.
4 Facts That Prove The EFSF Doesn't Matter At All [View article]
Interesting article. However, I do not believe Fact #4 for a heart beat. First it seems wildly off on the face of it. Secondly, it comes in connection with the libertarian "think tank," The Cato Institute, started, funded and significantly controlled by Koch brothers & Friends so it is biased straight out against European health care programs, subsidized higher education and other social services that, compared to the US, reduce homelessness, prison populations, infant mortality and a number of other measures of social progress -- that horrible word these days.
Cass Freight Index Highest Since November 2007 [View article]
My sense of the situation is different and comports with the Cass Freight Index. Forecasts are being generally revised upwards, not downwards, and not only in and for the US but in and for other developed non-PIIGS nations, too.
For example, the panelists of National Association for Business Economics (NABE), the professional association for those who use economics in their work with 2,300 members and 31 chapters nationwide, revised their projections for economic growth in 2011 upward from their November projections. Real GDP is expected to grow at a moderate pace of roughly 3.5 percent through the current year and into 2012,” said NABE President Richard Wobbekind.
If the EuroZone can keep its pants on, some day we might actually see some improvement in the unemployment situation as well (but holding one's breath is NOT recommended). Many other indicators point to improvement as well, including strong corporate profits and some real positive earnings surprises.
I have gone from sour puss to just past neutral to the upside. The real key is the EEU, as many US policy makers and economists realize.
How Income Redistribution Could Help Stabilize The Economy [View article]
No one is arguing for no income inequality, only less inequality than we now have because the income distribution mechanism has broken down. The income distribution has only become so badly skewed since 1980 since when that mechanism has been destroyed by the factors I identify, ad hoc examples to the contrary notwithstanding.
How Income Redistribution Could Help Stabilize The Economy [View article]
I agree that there is much too much looting through government. A little honesty, ethics and consideration of the public interest would go a long way toward improving the situation. It hasn't always been this bad.
Also, I think that you hit the nail on the head in saying, ". . . we have to get government to stop interferring with market resource allocation results and start instead to police markets for fair play and to prevent cheating and market abuse."
However, there is a libertarian, Austrian School sentiment out there I call free market fundamentalism which mistakenly contends there must be no regulation or policing or interfering by government in any market ever, confusing the two ideas and much else as well. They believe markets can never fail except as a result of government interference which is historically, theoretically and demonstrably false.
How the next two quarters come in, relative to expectations and in my judgement, will determine the timing of any double dip recession. The economic consensus forecast for Q3 is now much closer to 2% than 3%, with Q4 below that. Too, forecasts are being revised downward. Nevertheless, I, like you, think a 2010 recession is unlikely. It would, however, be nice if consumer sentiment were better and/or on the upswing.
You are naive if you believe sentiment, as it impacts expectations, do not have a very decided impact on economic behavior and therefore real economic variables. Otherwise, there is a lot of truth to what you say. Too, it is less clear to me than you that the Fed and Treasury have an inflation agenda to deal with all the federal debt. They are dealing with it now and have been for some time without substantial inflation. What inflation we have is mostly due to speculation in commodities futures markets. In truth, deflation is more the real concern, especially if we have a double dip recession.
How Income Redistribution Could Help Stabilize The Economy [View article]
You too much ignore the sources of income inequality I identify and, too, ignore my position that there should be inequality. Taking risk is different than using politics to rob.
How Income Redistribution Could Help Stabilize The Economy [View article]
I have. In another article, the editorial board here is sitting on for now or reviewing entitled, Addressing Washington's Great Failure: How We Should Deal with Our Unemployment and Recovery Problems.
If the Fed has been printing all this money for so long as many here claim, where is the resulting inflation (aside commodity prices driven up by speculators in the futures markets)?
Name calling doesn't buy spit. I didn't blame Americans for not understanding. To the contrary, I said they understood what S&P said and agreed with it. Reagan simply pulled a fastie and only those who have gone back and studied the situation economically have been able to wade through the Reagan propaganda.
4 Facts That Prove The EFSF Doesn't Matter At All [View article]
4 Facts That Prove The EFSF Doesn't Matter At All [View article]
Cass Freight Index Highest Since November 2007 [View article]
Cass Freight Index Highest Since November 2007 [View article]
For example, the panelists of National Association for Business Economics (NABE), the professional association for those who use economics in their work with 2,300 members and 31 chapters nationwide, revised their projections for economic growth in 2011 upward from their November projections. Real GDP is expected to grow at a moderate pace of roughly 3.5 percent through the current year and into 2012,” said NABE President Richard Wobbekind.
If the EuroZone can keep its pants on, some day we might actually see some improvement in the unemployment situation as well (but holding one's breath is NOT recommended). Many other indicators point to improvement as well, including strong corporate profits and some real positive earnings surprises.
I have gone from sour puss to just past neutral to the upside. The real key is the EEU, as many US policy makers and economists realize.
How Income Redistribution Could Help Stabilize The Economy [View article]
How Income Redistribution Could Help Stabilize The Economy [View article]
Also, I think that you hit the nail on the head in saying, ". . . we have to get government to stop interferring with market resource allocation results and start instead to police markets for fair play and to prevent cheating and market abuse."
However, there is a libertarian, Austrian School sentiment out there I call free market fundamentalism which mistakenly contends there must be no regulation or policing or interfering by government in any market ever, confusing the two ideas and much else as well. They believe markets can never fail except as a result of government interference which is historically, theoretically and demonstrably false.
Another Recession Is At Hand [View article]
Economy Not As Bad As It Seems [View article]
How Income Redistribution Could Help Stabilize The Economy [View article]
How Income Redistribution Could Help Stabilize The Economy [View article]
How Income Redistribution Could Help Stabilize The Economy [View article]
Another Recession Is At Hand [View article]
FOMC Minutes: Idiots On Display [View article]
Economy Not As Bad As It Seems [View article]
Economy Not As Bad As It Seems [View article]