MooPig Economic Summit Department :: "The Recovery"

A Time to Verify: a Time to Lie
Mixed Martial Articles by Pat Darnell  |  Dec 13, 2014  |  Bryan TX

It has come to the attention of MooPig Economic Summit Department writers that people in government office lie about economics. "We want to know the truth," said Ernst T. Bone, Editor-in-chief of the department. Don't take our word for it.

Republicans aligned with their funny economic strategy from the Reagan years seem to be the biggest spinners of economic haphazardry ... But,

The Obama Recovery Has Been Miles Better Than the Bush Recovery | Mother Jones: "Paul Krugman writes today about the dogged conservative claim that the current recovery has been weak thanks to the job-killing effects of Obamacare and Obama regulation and the generally dire effects of Obama's hostility to the business sector. But I think Krugman undersells his case. He shows that the current recovery has created more private sector jobs than the 2001-2007 recovery, and that's true. But in fairness to the Bush years, the labor force was smaller back then and Bush was working from a smaller base. So of course fewer jobs were created. What you really want to look at is jobs as a percent of the total labor force. "

'via Blog this'

_________________________Reference
http://www.motherjones.com/kevin-drum/2014/12/obama-recovery-has-been-miles-better-bush-recovery

Half the world's richest 1% live in the United States - PART TWO

How have we Organized our Production System?
Retrieved by Pat Darnell  |  Jan 28, 2012  |  Bryan TX

MooPig "Brain Industries Department" suggests spending an hour and a half to watch this one... it will help shake out cobwebs that are hurting your brain, concerning our current economic collapse. "To roll back our current Raw Deal we need to congregate and demand another New Deal." What shape that new deal forms is up to the people. Well, it is Democracy in the workplace; what a new, peculiar, concept!

Wages in the USA do not rise starting in 1978. Thirty years of no wage increase causes Middle Class borrowing binge. The system collapses in 2007. George "W" Bush's government throws trillions of dollars at the lenders, with no deliberations. Obama continues throwing money down the pit, as "incentives to private sectors to create jobs here." The fear of the lender, mostly banks, is not whether the politicians will pay them back -- "lenders own the politicians" -- but rather the fear that the people will not permit the government to pay back its debt.

That is the lender-borrower relationship that made the USA economy collapse in 2008, thirty years after wages were frozen. The gambit failed, what do we do now?

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PUBLISHED ON JANUARY 27, 2012
Professor Richard Wolff details the problems of capitalism and urges our recognizing its obsolescence and replacing it with institutions that truly serve the people.
Talk at Church of All Souls in New York City, January 24, 2012. Camera, audio: Joe Friendly

by Richard Wolff.

"W" Bush and Obama have proposed "incentives for the private sectors so that they will provide jobs." But that fails. Professor Wolff says the status quo is "absurd." He says American can do better than Capitalism.

Using parallels comparing now with Roosevelt's days, the professor tells us that "there is money now" ... don't listen to surly mouthed politicians who declare today there is "no money." There is enough money now to pay for the Middle-class to get back a foot hold. The corporations have to pay the bulk of the money needed. The politician has to mediate between the Middle Class and the employer-lenders. The people must act. [pd]

___________________Reference
http://rdwolff.com/content/costs-capitalisms-crisis-who-will-pay

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College of Economics :: HUNH?

QUANTITY :: Money Supply ... where is it?? YIKES!!

" ... Controlling the money supply through the central bank is known as monetary policy. Controlling it through deficit government spending is called fiscal policy ..."

" ... Money inflates easily and quickly, but it deflates slowly and at great cost. In a downward direction, prices are said to suffer from "price rigidities" or "price stickiness." There are several reasons for this.

One is psychological -- people hate to cut their prices and wages. Another is that salaries and wages are often locked into contracts, the average of which is three years. And for many, cutting prices incurs certain costs (reprinting, recalculating, reprogramming, etc.) that may not make the price change seem worth it.

Even if they do decide to change prices, it takes many companies quite some time to put them into effect. Sears, for example, has to reprint and remail all its catalogues.

Another likely reason is that entrepreneurs don't want to sell things below cost, so they might wait for their suppliers to cut prices first -- but in a circular economy, everyone would be waiting for everyone else to cut their prices.

The penalty for cutting prices first is a profit loss. Furthermore, with reduced sales volume, the unit cost of production is already going up, which only makes price reduction all the more difficult. ... " (A Critique of the Chicago School of Economics: A BRIEF REVIEW OF KEYNESIAN THEORY [SOURCE] )"

" ... How does all this relate to national economic policy? Keynesians believe their policies allow the government to take the rough edges off the business cycle.

In other words, Keynesian policy is counter-cyclical: when unemployment starts rising, the government expands the money supply; when inflation starts rising, the government contracts the money supply.

Another way of putting this is that the government is involved in a balancing act, creating just enough money to cover the natural amount of economic activity, without leaning either towards inflation or unemployment.

Rebutting this policy is where the Chicago School enters the story. ... " (ibid)

[Bottom PHOTO LINK]

Signatories Say: "China Petition"

[Authors and SOURCE Unknown: actually unknown credits for everything on this page... We're not even sure what year this is about... but we all agree it is colorful, no?]

So, you say, felonious Demand requires abundant Imports to clutter our shelves; while bulk-buying makes us all obsolete as individuals, and we become a collective economy rather than a model for developing third world market economy?


That's just plain un-Deomocratic... ! [or at least un-something 'Marican, you bet'cha]


I think we could add a few pennies due at the toll booths of our Harbors front doors. I vote "FOR."


And especially don't take away my right to bear arms. You all know that where you're living is where your back is. So don't tell me you've got my back.
pdaf