Second, if you think the stock market means good things are happening in the rest of the economy, you flunk Econ 101. The stock market only reflects future expected corporate profits.
Some examples of things good for the country and bad for the stock market:
1. Workers Unionize and get a pay increase.
2. Patents expire and the prices of drugs fall.
3. Corporate taxes are increased back to 35% so the country can pay for infrastructure and create jobs.
4. The Fed says housing loans require a 10% down payment which would slow the housing bubble, lower home prices, but decrease the number of loan originations at the banks.
Tim FinneganYou also don't see CNN updating it's job tracker. I was looking forward to seeing if Trump is on track to keep his jobs created (or saved?).
While America was all enraged over what Russia might or might not have done. This was going on! The enemy is not Russia. The enemy is the rich who own this country!
Economist Michael Hudson is the best at explaining "Classical Economics" vs. Neoclassical or Neoliberal Economics." Classical Economics emerged after the French Revolution which ended the Feudal System of lords and serfs. Classical Economics started with Adam Smith and ended with Karl Marx. Among other things, they argued that government should tax "unearned income" - like rents, and income from investments because it was too much like the income of feudal lords.
The rich so objected that they started Neoclassical Economics (now called Neoliberal), and the first sold-out economist was John Bates Clark (1847-1938), who argued . . . Well, in today's terms, argued that Paris Hilton earns her money. There is still a "John Bates Clark Award in Economics!"
The point here is, the current economic thinking in America is a sham economics invented by the rich for the rich. Worse, the rich have paid to have it taught in most Universities.
Below are 9 myths of Neoliberal Economics. Six are from Mark Blyth of Brown University and three of from Australian economist Steve Keen.
Americans have been tricked into believing:
1. That markets are efficient. (Ever heard of planned obsolescents.)
2. That banks have skin in the game. (They don't, they have "your" skin in the game!)
3. That people have rational expectations. (Tell someone in advertising this and they laugh.)
4. That investors evaluate risk carefully, the way insurance companies use actuaries.
5. That systemic risk is the same as individual risk. (Regulation is about stopping systemic risk, and you know how that has gone.)
6. That too-big-to-fail is not a problem. (And they are still getting bigger)
7. That government budgets are like household budgets, thus government austerity in hard times is a good thing! (This is a "like duh", if you understand "aggregate demand.")
8. That banks do not create money when they make a loan! (Yes, they do!)
9. That money loaned by a bank does not stimulate the economy by creating demand.
This is not a complete list, but the point here is the economics you know was invented by the rich to screw you over. Worst, the absolute worst, with Neoliberalism, you have the belief that the markets should mold the society rather than society molding the markets. That is, all laws, social or economic, must be based on economic thinking!
Waste of time is thus the first and in principle the deadliest of sins. The span of human life is infinitely short and precious to make sure of one's own election (to heaven). Loss of time through sociability, idle talk, luxury, even more sleep than is necessary for health, six to at most eight hours, is worthy of absolute moral condemnation. It does not yet hold, with Franklin, that time is money, but the proposition is true in a certain spiritual sense. It is infinitely valuable because every hour lost is lost to labour for the glory of God. Thus inactive contemplation is also valueless, or even directly reprehensible if it is at the expense of one's daily work. For it is less pleasing to God than the active performance of His will in a "calling." Besides, Sunday is provided for that, and, according to Baxter, it is always those who are not diligent in their "callings" who have no time for God when the occasion demands it.
(End quote)
My emphasis on the word "calling", we have all heard people say things like teaching or nursing is "my calling." This is, of course, directly from religious calling, and if God has called you, you have better do the best you can for fear of damnation. The capitalists took full advantage of this!
In today's world, this has morphed into "God has a plan for . . . well, everyone!" Frankly, aside from removing free will, the world offers no evidence of this. For those who disagree I offer the story of Rabbi Harold Kushner. His son was born with Progeria (where you age and die, of old age, at about 13). People in his synagogue would say, "Well, God has a plan for your son!" The Rabbi found this so absurd he wrote the book "Why Bad Things Happen to Good People!" It is a good read.
Yet, I am still amazed at the role of religion in capitalism, and its current absence.
However, despite H...See MoreThe Republican Party is bankrupt of ideas that might help the American public or the country, and that fact is now clear to all but the most tribal conservatives. The Democrats, the DNC wing, is no better and maybe worse by the looks of the Clintons. Yet, the democratic party has the Progressive Caucus - their only hope.
However, despite Hillary's devastating loss, the Democrats have refused to move away from their Wall Street donors. The point: the democrats are still "hoping" to change their party. The Republicans now know there is no hope. Trump was their candidate of change, and turned out to be just another oligarch - or should I say oligarch lackey, as Trump is not rich enough to be a real oligarch.
Worse, the Republicans in Congress have also made it clear, by way of their legislation and regulations, that any suffering by the average American is of no interest to them.
Gates, who served as Manafort's deputy, is expected to testify against Manafort if his case goes to trial. It's not clear what else he can provide prosecutors, but Gates continued to serve as a senior advisor to the Trump campaign after Manafort stepped down in August 2016, helped organize Trump's inauguration, and had access to the White House as an outside advisor in the early weeks of the administration....
"This information warfare campaign was SO. WELL. ORGANIZED. Part of me is like, "Yo, this is great digital marketing." The other part is like, "THIS IS HORRIBLE AND HOW CAN YOU TRUST ANYTHING ANYMORE??!"
The topic with Russia is the viability of the US election system - that is, does the election system reflect the desires of the people who are voting. From this point, it is only "reasonable" to ask which of the problems we are facing is the larger.
And guess what? That largest problem ain't Russia!
Then, just perhaps, before going crazy over a minor issue, we should ask "How is it that money from any foreign country can enter and influence our elections?"
My point here is, the "Russia Paranoia" is a totally emotional response. Even if it is true, and we have no evidence it is, there is no intellectual process that involves asking the right questions. We are not asking the simplest of questions, "Did whatever we "think" Russia might have done have a significant impact compared to other factors?" So far, the answer is a big fat "No!"
And finally, the saddest part! If you cannot figure out that the US military industrial complex is returning to Russia as the big boogeyman to frighten all of the American cowards, you are not paying attention. Seriously, Russia spends less than a tenth of what we spend on our military, and the stupid Americans are being convinced that the so-called threat from Russia means we should spend more on the military.
You are being suckered and you have fallen for it - hook, line, and sinker!
Second, if you think the stock market means good things are happening in the rest of the economy, you flunk Econ 101. The stock market only reflects future expected corporate profits.
Some examples of things good for the country and b...See More