Economics

GET OUT YOUR CALCULATORS!

January 2 2013
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http://www.usdebtclock.org/ Two of the GREATEST economists. http://www.youtube.com/watch?v=rkRIbUT6u7Q

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THE TROUBLE WITH OUR INCOME TAX

April 21 2012
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This report is entirely the work of the Brookings Institute. The complete Report with excellent graphs: http://www.brookings.edu/opinions/2012/0413_tax_greenstone_looney.aspx Some salient excerpts - 1. In this post we examine the progressivity of the U.S. tax code and highlight two facts: the current U.S. tax system is less progressive than the tax systems of other industrialized countries, and…

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AROUND THE WORLD IN 20 MINUTES

April 20 2012
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1. A WAVE of headline-grabbing assaults across Afghanistan has drawn attention back to the Haqqani network. The group, part crime family, part militant force, is the chief suspect in the assaults on April 15th in Kabul, Nangarhar, Logar and Paktia (see map). The network is led from the border region of North Waziristan in neighbouring…

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STUPID OR IGNORANT?

July 24 2011
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Perhaps John Boehner can slip through the horns of this dilemma – stupid or ignorant – by admitting he is just a vicious dog. He says that the Cut, Cap and Balance Act that just received House approval was passed by bipartisan support. In fact, 191 Democrats voted against the bill and 5 voted for…

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RUNNING LOW ON CASH

June 18 2011
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So you need a job? Well, the situation is not very good. Everyone knows unemployment is high but it may be surprising that those who have jobs are not being paid. Here are the dismal statistics. [U.S. Labor Department Occupational Employment Survey.] These are average salaries in the NY area. Strictly gross pay prior to…

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CUT THAT BUDGET, JOHN

March 8 2011
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Yes, indeed, Congressional House Head Honcho John Boehner believes in cutting the budget and making it real lean- but not in his own backyard. In 2001, the Pentagon agreed to buy 2,886 F-35 fighters for a cost of $226.5 billion. Per plane, that is a whopping $79 million. The project has dragged its feet and…

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WORLD BANK PROFUNDITY

February 20 2011
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The World Bank said that surging food prices have pushed an extra 44 million people worldwide into extreme poverty, which can often be a precursor to malnutrition. The number of undernourished people could rise to more than 1 billion this year. Who’da thunk it? Poverty and malnutrition go together? And just this morning I saw…

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DO THE WRONG THING

October 27 2010
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Leave it to the Republicans to be nasty for the sake of being nasty. The Swedish Nobel Prize for economics was just awarded to Peter Diamond, Dale Mortenson and Christopher Pissarides (sharing $1.5 million) for their pioneering work that helps explain the difficulties buyers and sellers often face in finding each other in the marketplace—and…

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COME THE REVOLUTION

October 6 2010
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There is debate about the origin of this expression which proclaims we will soon all be eating peaches and cream. It is popular among communists who believe that capitalism is in the throes of suicide. Maybe, maybe not, but the good news for those communist die-hards is that free enterprise in its most expansive form…

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THAT’S CAPITALISM

September 28 2010
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God bless America and free enterprise. 1. Abbott Laboratories has raised the U S price of its protease-inhibiting drug Norvir from about $1,500 to $7,800 annually. In Belgium, it costs less than $720. Abbott justifies its price hike by explaining that patients are using smaller doses of Norvir than originally expected. The price increase was…

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NO NEW ANTI-POVERTY MEASURES IN OBAMA’S GRAND SCHEME OF THINGS

September 14 2010
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You can read this in conjunction with my editorial about taxing the rich as nothing much than a starter program. It is an excerpt from a fine editorial in the socialist newspaper – www.wsws.org. – to which I provide a standing link in the “Elsewhere” section on the top of the page. Poverty in America:…

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RAISING TAXES AND MISSING THE POINT

September 14 2010
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The following is a letter I just sent to the Wall Street Journal. You can bet your bottom dollar it won’t be published. ************************************* The Wall Street Journal is at it again With its head firmly anchored in the direction of its bellybutton, it misses the point. The idea about raising the taxes steeply on…

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CHINA’S RISE, JAPAN’S FALL

August 17 2010
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Excerpted reprint from Earth Times. The full article may be read by CLICKING HERE. China overtook Japan as the world’s second-largest economy in the second quarter, capping three decades of spectacular growth. Japan held the number two title behind the United States for more than 40 years, but its economy hit a decade of stagnant…

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WHO’S RICH, WHO’S NOT

July 21 2010
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Only about 12% of all African trade is with other African nations. No surprise there. Most of these countries have nothing to trade. South Africa and Nigeria. between them have more GDP than all the other sub-Saharan nations combined. Here are the dismal stats. Read ‘em and weep. GDP in billions. Just the top 3…

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A LOSS OF TWO WEEKS LUCRE

July 17 2010
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Wall Street Journal…………Goldman Sachs Group Inc.’s settlement this past week with the Securities and Exchange Commission shows the difficulty the U.S. government is having holding bankers accountable for the worst financial collapse in 80 years. Some legal analysts noted that the SEC had dropped charges under Rule 10b, a sweeping antifraud statute relating to the…

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IT’S CALLED CAPITALISM, DUMMY!

July 13 2010
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Walmart CEO Michael Duke’s $35 million annual salary constitutes an hourly wage equal to the annual salary of the average Walmart employee. New Walmart employees are paid $8.75 an hour — a gross salary of $13,650 a year. Thus, over a single lunch, Duke makes the yearly salary of one of his workers. Walmart director…

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A PROBLEM FOR CAPITALISTS

July 7 2010
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The followng is reprinted from CommonDreams.org. My question, after reading this, is this: Must it not be true that every member of what Professor Michael Green calls the “Predatory overclass” is an atheist? Professor Green makes it clear that the awfulness of it all is not a mere accidental coalescence of many thoughtless raids on…

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WHAT’S GOOD FOR AMERICA IS GOOD FOR THE CONGO

May 15 2010
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The weekly report from the Vanguard Family of Funds was waiting for me when I went down to the mailbox. The news gladdens the hearts of all right-thinking people in the Democratic Republic of the Congo, Chad, Niger, Zimbabwe, Namibia, Sudan, Ethiopia and at least 20 other cash-rich African nations whose motto is “As the…

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SOMETHING FISHY IN THE STATE OF U.S./IRAN RELATIONSHIPS

May 12 2010
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Make of this what you will. The complete report, naming names and facts and figures may be found by CLICKING HERE. This report IS NOT CLASSIFIED and, like most government documents can be distributed at will. United States Government Accountability Office Washington, DC 20548 May 4, 2010 The Honorable Joseph I. Lieberman Chairman The Honorable…

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THE MOST DANGEROUS CITY IN THE WORLD

April 27 2010
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Juarez, Mexico, a city bordering on Texas, is the murder capital of the world. Ironically, El Paso, Texas, practically a sister town, is the 2nd safest city in the USA. Still, the lure of exotica brings many Texans to Juarez on a daily basis. Presumably, although they risk life and limb, the attractions of the…

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GREAT NEWS FOR AFRICA, SOUTH AMERICA AND SOUTH EAST ASIA

April 25 2010
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On Friday, I got my usual weekly bulletin from the Vanguard group of mutual funds. “The week’s economic news suggests increasingly blue skies ahead for the U.S. economy. Skies also turned friendlier in Europe.” For the week ended April 23, the S&P 500 Index rose 2.1% to 1,217 (for a year-to-date total return of about…

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THE BEST CARS AND THE WORST

February 18 2010
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People make their choices in cars in ways that defy rationality. They like certain colors or they like the overall shape of a car. They look for cargo space and for a nice layout of inside features. They want good gasoline mileage. The least sensible people read Consumer Reports. This venerable guru tells us how…

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ISRAELI/HAITIAN CONNECTION

February 1 2010
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Israel is in the uncomfortable position of being criticized for giving aid to Haiti. It is a marvelous example of “Damned if we do and damned if we don’t.” Enemies of Israel are claiming Israel’s aid is only a public relations ploy and, cynically, they find it amusing that Israel doesn’t provide the same humanitarian…

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THE NEWS IS GREAT

January 16 2010
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My weekly bulletin from the Vanguard Family of Funds arrived yesterday and I am pleased to report the state of the economy is good and getting better. Of course, this news has not filtered down to Haiti, most of Africa, much of Asia and South America, or all those people in the USA who haven’t…

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