Wow, wild stuff from Free Lunch: How the Wealthiest Americans Enrich Themselves at Government Expense (and Stick You with the Bill).
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More videos after the jump:
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U.S. May Be Headed for Downward Spiral, Says Pulitzer Prize-Winning Journalist
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Standoff on Bush Tax Cuts Could Benefit Obama, David Cay Johnston Says
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
"Dollar depreciation leads to higher inflation and ultimately forces foreign creditors to question their rationale and indeed their sanity for continuing purchases of U.S. Treasuries." -Bill Gross
Signs continue that European markets are getting tired. The Spanish and Italian stock markets, big beneficiaries of the sharp decline in their bond yields over the past few months are falling to the lowest since Feb 1. The European bank index is at a 1 1/2 week low after earnings reports from Commerzbank and Credit Ag (RBS bouncing although reporting weaker than expected earnings) were disappointing. This market action is in spite of the German IFO business confidence figure which rose to a 7 month high coming in a touch above expectations and Italian consumer confidence which bounced more than...
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November 23rd, 2010 at 7:32 am
I just left a comment but I don’t see a way to view any of the comments. Just letting you know.
November 23rd, 2010 at 7:35 am
“What we have in this country is socialism for the rich, and free enterprise for the poor.”
- Gore Vidal
I think my four point economic plan addresses the inequities between the privileged and the non privileged, and no government bailout is required either.
November 23rd, 2010 at 7:41 am
QOTD:
“I place economy among the first and most important republican virtues, and public debt as the greatest of the dangers to be feared. To preserve our independence, we must not let our rulers load us with perpetual debt.” -Thomas Jefferson
November 23rd, 2010 at 9:14 am
Free Lunch is a great book that tells you everything you need to know to be convinced of the insatiable greed of some corporations and the eye-popping mendacity of the politicians.
Alas, the pain generated by income inequality and its social consequences isn’t intense and widespread enough to trigger meaningful action.
We shall suffer for maybe another decade or two before we decided to do something about this colossal injustice that is eating our social fabric and economic competitiveness.
It is likely that by then, it’ll be too late to remedy the situation.
How’s that for a pre-Thanksgiving pep talk? I’d like to be more upbeat, but pray tell me what should I be thankful for when I see the leadership of this nation working that hard to fuck us up the way they do?
November 23rd, 2010 at 9:21 am
How would I find a link to the article by his colleague on supply side economics leading to default. I tried looking for it, but could not locate it.
November 23rd, 2010 at 9:58 am
Marty Sullivan’s columns on supply side leading to default are at tax.com
Fiscal Crisis, Part 2: Catastrophe is the key article, but there are others under his name.
November 23rd, 2010 at 8:00 pm
I read comments here made by despondent Americans TOTALLY out of touch with the world economic/social/political state of affairs at large. China: income disparity is growing but at the same time millions are lifted out of abject poverty by making toys for WalMart or sneakers for Nike. Porsche, Rolls Royce, Lamborghini are doing fabulous business in the land of Peoples’ Republic of China. My Guatemalan gardener just paid $4500 to RETURN to California via Arizona, compliments of a Mexican coyote; and I hear that getting a visa to travel to the US and then promptly becoming illegal by overstaying it and starting anew here runs in the thousands of $ in…China via corrupt nationals hired by US consulates driven by political correctness. And you think we have it bad and the US Gov is fxxxing us up? Get a life, stop whining and instead of bashing the rich become one of them. Remember the poor are not poor because the rich are rich and taking from the rich and giving to the poor doesn’t work, just look at Cuba, ask the one million plus Cubans in Florida. Holidays are upon us, give to the poor/destitute/unwashed until it hurts and ask your Government to create an environment where jobs are abundant. The rest will take of itself. About debt: The Roman proverb stands: “Felix qui nihil debet”- Happy is the one who owes nothing.
November 29th, 2010 at 4:19 pm
victor, you are not 1/100th as smart as you think you are. I don’t even know where to begin…