FROM BROKEN WINDOW FALLACY TO BROKEN CAR TRUTH

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Posted on 30th January 2015 by Stephanie Shepard in Economy |Politics |Social Issues

I find myself in a pickle. A damned if you do, damned if you don’t predicament. A classic catch-22 to without all the war jazz. Paul Krugman in his brilliance touts the broken window fallacy as an economic stimulus macroeconomic miracle. The theory goes a window is broken in a shop, in turn the shopkeeper spends money to employ the services of a window repairman. In turn the window repairman buys a window, replaces the window, and later spends his profits elsewhere. The misfortune of the shopkeeper becomes the fortune of the repairman, then becomes the fortune of someone else etc.

Now to my misfortune and what I call “The Broken Car Truth”. Over the summer my car became unpredictable. I always had a 30 minute commute to work as I always got stuck in traffic. On a Sunday morning without traffic I would make it to work in roughly 10 minutes. Something went amiss in the mechanics of the car and I started having a problem of over heating. I started to baby my car and take alternate routes to work until I could save the money to take it to a repair shop.

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“There Is No Reality Anymore…”

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Posted on 30th January 2015 by Administrator in Economy |Politics |Social Issues

Submitted by Thad Beversdorf via First Rebuttal blog,

“I’d Like to Change the World, but I Don’t Know How So I’ll Leave it Up to You”

What a great lyric that is from the late 60′s, early 70′s English band ’10 Years After’.  I believe this describes that uneasy feeling of discontent that sits deep in the stomach, beneath the day to day exteriors, of so many people today.  The world is like a black hole in that it seems to be getting smaller and smaller as the years go by but also heavier and heavier with each passing day.

When I was a teenager and my friends and I were taking reality obscuring substances, one of my buddies (this means you Nichol) would stop us at certain points throughout the night for a reality check.  This was just a few moments where we’d all gather our senses to make sure the world was still right and then we’d venture back into obscurity.  I feel that reality is an old world term.  There is no reality anymore.  With advances in technology came unending possibilities of if you can dream it ‘they’ can make it so.  The ubiquitous flow of information ensures that the truth is always available but never known with certainty.  It means there is no such thing as a reality check.  It’s like that dream inside a dream inside a dream.  Which reality is real anymore?  How deep does the rabbit hole go?

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DRUGS & BOMBS PROP UP GDP

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Posted on 30th January 2015 by Administrator in Economy |Politics |Social Issues

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Consumer spending accounts for 68% of GDP. It seems the only thing keeping GDP going is Obamacare. You remember, the plan that wouldn’t add one dime to the deficit and would REDUCE healthcare premiums by $2,500 per family per year. It seems Obama and his minions may have miscalculated by a smidge. Any gasoline savings you may have gotten over the last few months are just a drop in the bucket versus the massive increase in your healthcare costs.

If we didn’t have Obamacare and the military industrial complex conducting wars around the globe, GDP would be negative. Maybe that explains why wage increases fell in the 4th quarter, despite the supposedly booming jobs growth. Wages always stagnate when the jobs market is strong and the unemployment rate is 5.6%. Right?

But, don’t you worry. Jamie Dimon is getting a big pay raise after his upstanding organization has paid $50 billion in fines for their criminal activities over the last few years.

The Pros And Cons Of Fracking

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Posted on 30th January 2015 by Administrator in Economy |Politics |Social Issues

Gas prices are plummeting across America thanks in part to the country doubling its daily oil exports, which is made possible by chemical fracturing technology that scientists have said wreaks havoc on the environment. Here are some pros and cons of fracking:

Pros

  • Blasts tens of thousands of gallons of chemicals deep underground, out of harm’s way
  • Prompts important conversation about whether or not people have a right to clean water
  • Chemical balance of breathable air getting a little staid
  • Fact that shale well blowout could happen at any moment emphasizes ephemeral beauty of life
  • Cancer research could use few more confounding variables
  • Those hardest hit will be the voiceless

Cons

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Is Democracy Dead In The West?

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Posted on 30th January 2015 by Administrator in Economy |Politics |Social Issues

Guest Post by Paul Craig Roberts

We will find out the answer to the question posed in the title in the outcome of the contest between the new Greek government, formed by the political party Syriza, and the ECB and the private banks, with whose interests the EU and Washington align against Greece.

The Spartans, whose red cloaks and military prowess struck fear into the hearts of both foreign invaders and Greek opponents in the city-states, are no more. Athens itself is a ruin of its historical self. The Greeks, who were once to be contended with, who were able with 300 Spartans, supplemented with a few thousand Corinthians, Thebans, and other warriors, to stop a one hundred thousand man Persian army at Thermopylae, with the final outcome being the defeat of the Persian fleet in the Battle of Salamis and the defeat of the Persian army in the Battle of Plataea, are no more.

The Greeks of history have become a people of legend. Not even the Romans were able to conquer Persia, but little more than a handful of Greeks stopped the attempted Persian conquest of Greece.

But the Greeks, despite their glorious history, could not stop their conquest by the EU and a handful of German and Dutch banks. If the Greece of history still existed, the EU and the private banks would be cowering in fear, because the EU and the private banks have ruthlessly exploited the Greek people and represent the same threat to Greek sovereignty as Persia did.

Greece, stripped of its independence by its EU membership and acceptance of the euro as its currency, has lost is sovereignty. Without control over its own money, Greece cannot finance itself. Greece must rely on private banks from other countries. In the 21st century European private banks are not allowed to lose money simply because they are incompetent and over-lent to EU member countries. This is not considered to be the fault of the banks, but of the borrower governments and populations.

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Socialism Is Like a Nude Beach—Sounds Like a Great Idea Until You Get There

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Posted on 30th January 2015 by Administrator in Economy |Politics |Social Issues

The 10th Man: Socialism Is Like a Nude Beach—Sounds Like a Great Idea Until You Get There

By Jared Dillian

I’ve been following the activities of Syriza for a long time. They started putting up big numbers in the polls in Greece three or four years ago.

Syriza has a message that’s very popular with Greeks: Screw Germany. The word they use to describe what’s happened to Greece during the period of time since the debt crisis is “humiliation.”

To be fair, if you owe a lot of money to someone, it can be tempting to give them the finger. When Greece’s debt was restructured, it was done in such a fashion that none of the debt was really forgiven, but the maturities were extended far out in the future. Since Greece doesn’t grow (for structural, demographic, and cultural reasons), this is known as extend and pretend. Everyone knew, even back then, that the only hope Greece would have to avoid default would be whatever ability they had to refinance.

Greece has been struggling under the yoke of this debt over the last few years, and the Greeks are sick of being serfs. So Europe gets the bird, although deep down, Greece doesn’t really want to drop out of the euro. They get a lot of benefits from being part of the Eurozone, namely purchasing power and low interest rates.

So naturally, having and eating their cake simultaneously is the goal.

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THE PARTHENON OF AMBITION

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Posted on 30th January 2015 by T4C in Economy |Politics |Social Issues

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Syriza’s Original 40 Point Manifesto
Tyler Durden on 01/29/2015 19:30 -0500

 

The daily bulletin of Italy’s Communist Refoundation Party published today the apparently official program of the Greek coalition of the left, Syriza. Here the 40 points of the Syriza program.

 1. Audit of the public debt and renegotiation of interest due and suspension of payments until the economy has revived and growth and employment return.

 2. Demand the European Union to change the role of the European Central Bank so that it finances States and   programs of public investment.

 3. Raise income tax to 75% for all incomes over 500,000 euros.

 4. Change the election laws to a proportional system.

 5. Increase taxes on big companies to that of the European average.

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QUOTE OF THE DAY

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Posted on 30th January 2015 by Administrator in Economy |Politics |Social Issues

“This sentimentality, as Baldwin wrote, masks a terrifying numbness. [The War Culture] fosters an unchecked narcissism. Facts and historical truths, when they do not fit into the mythic vision of the nation and the tribe, are discarded. Dissent becomes treason. All opponents are godless and subhuman… It holds up the dangerous belief that we can recover our equilibrium and our lost glory by embracing an American fascism.”

Chris Hedges


Video of the Day – John McCain Threatens Protesters with Arrest, Calls them “Low-Life Scum”

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Posted on 29th January 2015 by Administrator in Economy |Politics |Social Issues

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Screen Shot 2015-01-29 at 2.05.49 PMHe’s a thug, and a crook, and a liar, and a pseudo-intellectual and a murderer. Ok? Those things are factually verifiable.

– From the late Christopher Hitchens’ outstanding interview: Christopher Hitchens’ Polemic Against Henry Kissinger

Crazy John McCain is at it again. Nothing gets this guy more riled up than American plebs questioning status quo war criminals. I suspect much of this anger is rooted in his own legitimate fear about how history will remember his own legacy of remarkable stupidity.

Truly remarkable to see a Senator become so easily unhinged when protesters show up to condemn Henry Kissinger. See for yourself:

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