Economic News/Discussion

[jimzinsocal]

Good lesson here...several in fact

http://money.cnn.com/2008/10/03/tech...pple/index.htm

[AeroSim]

I'm not a big Post fan, but I get the conclusion of this one:

http://voices.washingtonpost.com/fac...r_spendin.html

[jimzinsocal]

^^Agree with the summary there^

As time goes on I want to see a format for next year. And some rules.
No added spending.
A detailed plat that lists both spending and revenue sides.
A plan that outlines a 10% reduction in spending.
Any tax increase must be accompanied by a 2 for 1 spending reduction....
I reason that if the taxpayer is forced to live with less? Government
should do the same.
Wage freeze for all Government employees. One year.
We should also take a hard look at SS. Make some actuarial adjustments to get things more inline. Do this every year for 5 years.

[jimzinsocal]

Good questions

http://justoneminute.typepad.com/mai...e-winning.html

[falcon_view]

How many time have we heard the US is a credit basted economy? We ran out of credit, period. We are not a industrial basted economy anymore. At present the only way to grow our way out of the problem without taking big steps backward is more credit. It has worked for several years but there comes a time when we are done and maxed out on credit. Everyone bitches about Washington DC but you are going to have to look in the mirror. Washington is controlled, not by you and I but by those that have deep pockets. That is why I gave the bailout a very good chance of passing. That is why in the republican primary I was for Ron Paul who goes against the grain. In the past I have voted for third party candidates to wakeup Washington. We keep voting for these two parties nothing is going to change, count on it. One side will get what it wants and then the other while piling up more debt. In a credit/service basted economy how long can we keep money going just between us and grow the economy? The biggest joke I see is the Federal Reserve Bank. Why in hell do we need the FED to dole out our money and pay interest on that money? Some please explain that to me. I understand that the money supply has to grow with the population but to pay interest on that money. Someone please hit me between the eyes so I can understand why, why. Why is it that we appoint a director to the FED but have no other control and pay interest on the money the bank puts out. It is not the banks money. If we were to have the same system under government control shouldn't that interest go back the government? Of course you wouldn't want the government putting out money just to collect the interest. I am afraid we will not hear any good alternative because if there is or would be they would be squashed with ridicule.

Am I off my nut or what??????????????????

[jimzinsocal]

No. You arent off your nut. What you say is a valid position shared by alot of folks. Including Ron Paul...who Ive been reading more and more BTW.

http://emac.blogs.foxbusiness.com/20...n-the-bailout/

I may not agree with every point but I wont or cant argue with the value of the point of view.

[AeroSim]

No. You arent off your nut. [/url]

"There is nothing more important than your quarterly report and blackening the bottom line. Not religion, morality, patriotism, politics...nothing. If you don't blacken or darken that bottom line, you don't have a job."

- A quote I got from a recent global business graduate of the Arizona State business school.

The American worker is the smartest and best worker in the world. I hold to that because I see engineers spending more time working smarter and not harder- because they have the freedom to do so.

We used to be afraid of the Japanese, German, Korean and Nationalist Chinese economies. But each of these were emerging democracies that turned out to be very good trade partners. But now even they are moving to practice what we are.

China is a nation of 1.3 BILLION people, a billion of whom still live in the Ming Dynasty and the rest of whom mostly bring the Ming Dynasty to the 21st century. With such a labor pool to cull from, the rules are pretty simple: Work or back to scratching out a survival.

What is happening to productive America is that it can’t cost-compete against slave labor. The Olympics were about getting the world to accept China AS IS so that corporate parties can outsource high paying technical jobs to a slavery/peasant based autocracy. And with them they are sending proprietary information and the funds to help these societies build the necessary infrastructure to support even higher education jobs like engineering and technologies like computers.

Moreover, my company is putting together foreign national teams to possibly work government space and defense programs and putting the accounting standards into place to direct pay them your tax dollars. I haven’t found any public links that say this explicitly, so I am your source for this and I put myself at risk saying so. But I think it’s dam important- more important than my job.

I’ve thought about writing a book many times- all of them fiction, so take this with a grain of salt when I try to summarize this:

The world is increasing in population and decreasing its finite resources to support it. I don’t think this is a matter of simply greed, but part of a deliberate and contrived plan to remake the world as we know it. And one of the steps to achieve this new world society is the destruction of the American middle class. I think some of our government leaders and quite a few corporate ones are aware of this and are gradually implementing this based on projections. Things like the bailout bill is not a rescue but a step in the process. And whether they know it or not, I think that either McCain or Obama will simply be two variations of the same path.

So hence I stick to my guns: Outsourcing right now is the hottest and most successfully buried issue in this election.

‘Nuff said. This is the TLR, I’m giving a sugar coated version of what I want to say- but have at it.

[jimzinsocal]

Good lesson here...several in fact

http://money.cnn.com/2008/10/03/tech...pple/index.htm

Now add this to complete the point

http://www.commentarymagazine.com/bl...hp/rubin/35461

[jimzinsocal]

Some great ideological food for thought in your post above.
China particularly as I understand the issue there and am still in a sort of limbo
around some of the implications.

[falcon_view]

Here is another consideration about the FED. I don't know if this is correct or not. It takes up to May from our income tax to pay the interest to the FED/year and the money putout by the FED will never be paid back. What is the FED besides a management company and does the FED deserve that much money?????????????????

Who are the suckers here?????????????????

[AeroSim]

Here is another consideration about the FED. I don't know if this is correct or not. It takes up to May from our income tax to pay the interest to the FED/year and the money putout by the FED will never be paid back. What is the FED besides a management company and does the FED deserve that much money?????????????????

Who are the suckers here?????????????????

I encourage you to look at their website. Simply put, Central banks and the Fed ARE necessary, even though they hold incredible power.

The Fed controls the value of your dollar. They CREATE money mostly based on number of jobs, pay for those jobs, goods and services produced, etc. Basically this is based on the value of assets and income and the equations do get a little inolved- but they make sense and are necessary to have money used as the medium of exchange.

As with anything, it's the abuse that needs to be watched for.

[falcon_view]

Then it is the FED monetary policies that got us to this point by putting out too much money or too easy credit. If the FED had said hold on boys you are not going to get that much cash and slowed it down with higher interest rates we wouldn't have this housing bust. I know that there is more to it but I can't see why about 1/2 year's taxes has to go up in flames. Who or what is worth that much money????????????

I can not see were the FED's service is worth that much.......... If it is they are doing a very poor job...........

[AeroSim]

Then it is the FED monetary policies that got us to this point by putting out too much money or too easy credit. If the FED had said hold on boys you are not going to get that much cash and slowed it down with higher interest rates we wouldn't have this housing bust. I know that there is more to it but I can't see why about 1/2 year's taxes has to go up in flames. Who or what is worth that much money????????????

I can not see were the FED's service is worth that much.......... If it is they are doing a very poor job...........

I guess what I'm trying to say is that the Fed may not be the right place to look. I think the place you have to look is at who they are borrowing from to generate the debt.

Added: I keep forgetting the links

[falcon_view]

I have see the link. But now really confused about what you are saying. I am under the impression that all monies come from the FED by way of bank loans and such. If the FED and Government puts too much money into the system we have very good times with some or great deal of inflation. When they pull back we go the other way. As consumers go, if credit is too loose and plentiful we got inflation that the FED is to control. So still the FED has done a poor job where the government has not slowed down with spending.

[AeroSim]

I have see the link. But now really confused about what you are saying. I am under the impression that all monies come from the FED by way of bank loans and such. If the FED and Government puts too much money into the system we have very good times with some or great deal of inflation. When they pull back we go the other way. As consumers go, if credit is too loose and plentiful we got inflation that the FED is to control. So still the FED has done a poor job where the government has not slowed down with spending.

Actually, I think you are close to getting it. The Fed controls the amount of money we have. Inflation can easily come from here if they arbitrarily decide to put more money into the system. Mosttimes they do this realistically based on what they anticipate as economic growth. However, they also can do it to cover the 'ses of those borrowing if a spate of foreclosures or call-ins are done. But I think that is the wrong discussion to have here.

What you need to see is WHO is holding our debt. Have you noticed how our government and businesses don't talk badly about China? Now look at who is holding a lot of our loan. And ask yourself what the Chinese people must be going through to make this possible and the staggering cost it is starting to have on both our jobs and capital. They are basically taking our money for jobs they don't have to pay well or give benefits to (slave labor) and lending it back to us.

Now imagine if we antagonize them and they decide to pull out.

My thought: Our businesses and government have taken a callous and amoral approach to support their addiction to money. They are squandering it away at our expense and telling us of the marvelous things they are doing for us.

I think integrity and morality count in business, and you are gravely mistaken if you think otherwise. I think it is the difference between true business and an authoritarian society.