Blog Archives

John Boehner Quote of the Day

Responding to a question about funding of the Federal Government, Majority Leader Boehner made the following statement:

“blah blah blah blah blah. all right? so? yes.”

I find his knowledge and depth of perception stunning. Don’t you?

Is our economy a Ponzi Scheme? Activist Post thinks so.

clipped from www.activistpost.com

Economy Hit with the Ultimate Smokescreen: Biflation

You can tell when a Ponzi scheme is approaching its collapse by the increased number of smoke and mirrors needed to cover up the counterfeit foundation of the scheme.
The U.S. government, who already grossly disfigures the real numbers for GDP, unemployment and inflation, is constantly having to twist reality to keep their scheme afloat.
The government recently reported that unemployment numbers reached the lowest point in nearly two years at 8.9%, “sparking optimism” in the establishment media.  Many analysts point to two months in a row of “job growth” as evidence that the U.S. is well on its way to recovery and it should be good news for job seekers.
Try telling that to a random unemployed commenter who responded to the news with the following:

All lies. Why not just up the ante and say the unemployment rate is 5%? The last job I applied for had 440 applicants, many of whom had Phd’s, for the whopping non-living wage figure of 35K.

blog it

So much is being revealed by sites that don’t get covered by the bigtime press (Hell, the NYTimes has been downplaying Wisconsin!).

Looking at the Economy as a whole gives you a hint at who controls the major publications… and they aren’t ordinary folks!

Thanks to the Web we are still getting information and proof that we need… until the biggies find a way to take it from us.

Why Alaska better pay attention to Joe Miller before he helps screw them royally…

For instance, his views on the Minimum Wage (Unconstitutional) or Social Security (close it down).
This from HuffPo:
clipped from www.huffingtonpost.com
Employees in the U.S. should not be provided a federal guarantee of minimum wage, Alaska Senate candidate Joe Miller said recently. The states, instead, should be left to determine the minimum rate that an employer can provide their workers, he argued.

“That is not within the scope of the powers that are given to the federal government,” the Tea Party-backed GOP insurgent argued in a recent ABC News interview. “That is clearly up to the states.”

Miller went on to clarify that “the state of Alaska has a minimum wage which is higher than the federal level because our state leaders have made that determination. The minimum level again should be the state’s decision.”

Such a policy stance is not extraordinary compared to Miller’s other anti-government views. But it is the most clear cut he has been on the issue of minimum wage.

Miller said that Social Security should be phased out in order “to transfer the power back to the states so that states can take up the mantle of those programs if they so desire.”
blog it

If we CAN learn from History, we ought to listen to Krugman…

In his piece in the NY Times this morning, Paul Krugman compared the situation Obama is in now with the situation FDR was in in 1937… and how similar the public response was (and how misdirected.)

Here’s a clip:

The story of 1937, of F.D.R.’s disastrous decision to heed those who said that it was time to slash the deficit, is well known. What’s less well known is the extent to which the public drew the wrong conclusions from the recession that followed: far from calling for a resumption of New Deal programs, voters lost faith in fiscal expansion.

Consider Gallup polling from March 1938. Asked whether government spending should be increased to fight the slump, 63 percent of those polled said no. Asked whether it would be better to increase spending or to cut business taxes, only 15 percent favored spending; 63 percent favored tax cuts. And the 1938 election was a disaster for the Democrats, who lost 70 seats in the House and seven in the Senate.

And then came World War II and the miracle occurred.

From an economic point of view World War II was, above all, a burst of deficit-financed government spending, on a scale that would never have been approved otherwise. Over the course of the war the federal government borrowed an amount equal to roughly twice the value of G.D.P. in 1940 — the equivalent of roughly $30 trillion today.

Had anyone proposed spending even a fraction that much before the war, people would have said the same things they’re saying today. They would have warned about crushing debt and runaway inflation. They would also have said, rightly, that the Depression was in large part caused by excess debt — and then have declared that it was impossible to fix this problem by issuing even more debt.

But guess what? Deficit spending created an economic boom — and the boom laid the foundation for long-run prosperity.

We don’t have a similar miracle waiting in the wings for us. In fact, our military is more than overspent and tired out after the decade of Iraq and Afghanistan. And we are broke!

The odds of the Repiglicans, who will be voted in to Congress by short-sighted middle- and lower-class folks, increasing our expenditures on jobs and government-financed recovery are minimal.

But it turns out that politicians and economists alike have spent decades unlearning the lessons of the 1930s, and are determined to repeat all the old mistakes. And it’s slightly sickening to realize that the big winners in the midterm elections are likely to be the very people who first got us into this mess, then did everything in their power to block action to get us out.

But always remember: this slump can be cured. All it will take is a little bit of intellectual clarity, and a lot of political will. Here’s hoping we find those virtues in the not too distant future.

And here’s hoping it doesn’t take a World War.