Homer

A McCain Victory Wouldn't Mean Same Republican Economy

No mention how much money the four Neo-cons on McCain's staff will increase the debt by to play "World Dominiation." On ANWR: Pickens knows more about ANWR than Palin does. I read a report that says the reserves there are overstated and even at their inflated levels we could save more than five times the oil there in the time it takes (ten yrs) to get the first drop out by simple lowering the speed limit to 55MPH. I've listen to McCain and his conservation ideas are vague and lead by ideas we are already doing. On the Economy:
The Economic and Tax Policy Institute compared both candidates policies and concluded that McCain's would add about $100 billion more to the Nation Debt. And this figure did not take into account either further war spending or the $100 Billion cost of finishing Yucca Mountain which would be needed for his additional 24 Nuclear plants.
McCain's ideas of deficit reduction initiatives don't add up. He can line-item veto until he's blue in the face but it won't finance all his promises. At least the Democrats have instituted "pay as you go rules." Meanwhile, McCain would cut Corporate taxes even more, even though 61% of Corporates pay no tax at all, and many of these multi-nationals are shipping American jobs overseas at accelerated rates. McCain's plan would result in the middle class paying an even larger share of the total tax burden(it was increased under Bush too). How are workers earning half or even two thirds of what they used to make and paying higher taxes for Corporate welfare suppose to continue buying? Not a good prescription for stock prices when the U.S. economy depends on consumer spending. Prediction - If McCain expands free trade as he has promised under current trade policies, the trend of the shrinking middle class will accelerate as more college -educated workers join the plight of high school graduates.

Bill Gross: Understated Inflation Means Commodities, Emerging Markets Should Outperform

Mofares is close except the folks at BLS just use the formulas that Reagan Adm. gave them. The method for calculating inflation was changed in his first term when it was raging in double digits to protect Corporations from higher pension increases and keep SS COLA costs lower because between them and his tax cuts, the deficit was exploding. GHWBush was right - Voodoo economics were indeed implemented. Now we exclude the price of energy and food, because they decided they were not "core" to inflation. Yet every American pays these costs everyday. How can they not be germane to the rate? Its no accident that under the pre-Reagan method that the inflation rate over the last ten years would have been in the 8-10% range, and under the current method its ranged from 2-4%. Any wonder that the wealth gap has widened substantially since the 80's. A few unaccounted for points of inflation doesn't bother the rich guys much but middle class and lower class Joe keep coming up short no matter what they do.