Monday, August 8, 2011

Are all economies based on lies?

This from "Some Assembly Required". Follow link there -- click on his links -- read the originals. Don't cry on your keyboard, or laugh too hysterically for too long -- they may just take you away. Of course, then you might just get "three hots and a cot", and health care. Hmmmm, could be worse.
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Are all economies based on lies?

He Said: "In 23 of the past 24 months, lower income Americans have lost more jobs than they've gained, while more affluent Americans are gaining more jobs than they're losing. In the US, poor people are euphemistically referred to as 'the struggling middle class'.... When money equals speech, and speech equals influence, and influence drives law and public policy, there is no 'equal justice under the law'.... 'Personal responsibility' seems to only apply to the have-nots."

Spending Cuts: In seven trading days, the markets were able to subtract $4.5 trillion in potential spending from the economies of the world. The Reality Challenged Right says this will be good for economic growth.

Bigotry: We have made little progress on job creation relative to population in the last 18 months or more. The employment/population ratio fell from 63% in 2008 to 58% at the end of 2009 and is stuck there. Recovery depends on somebody persuading someone to spend something.

Slip Sliding Away: Long term (2 to 99 week) unemployment benefits are being reduced or eliminated as states react to dwindling resources. Budgetary constraints (MI & SC offer only 20 weeks and have 10.5% unemployment), preventive parsimony (IL, 25 weeks) and moral meanness (WI)

Mantra: European central banks said they "will intervene very significantly" in the markets. They did not say that their intervention would do any good.

Am Bushed: Key to S&P's decision to downgrade US debt was their belief that the Bush tax cuts will remain in place "because the majority of Republicans in Congress continue to resist any measure that would raise revenues." Just so you know who deserves the credit.

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