Archive for the Economics Category

First Annual Noble Prize In Eco-nomics (October 10, 2016)

Posted in Awards / Incentives, Banks and Banking System, Courage, Credit Unions, Crime/Punishment, Economics, Economics Nobel, FDIC, Journalism, Kleptocracy, Law, Newspapers, Nobel Prize, Noble Prize, Press/Media, Rule of Law, Song Reference on October 10, 2016 by e-commentary.org

. . .

K          “An award dedicated to acknowledging and celebrating the work of someone on the planet who really knows something about eco-nomics.”

J          “Novel.  Appropriate.  Necessary.  And unprecedented.”

K          “The recipient of the first annual Noble Prize In Eco-nomics is . . . Professor William Kurt Black, Esq. professor of law and economics with the University of Missouri at Kansas City.  With decades of substantial and substantive real world experience, Professor Black examines and explicates the workings of banks and the banking system in the United States and the world with insight and conviction.  In his classic, timely and timeless magnum opus The Best Way to Rob a Bank is to Own One, he advances the conservative notion that those in the banking industry who commit systematic and rampant fraud should be convicted.  In an inspiring TEDxUMKC presentation available at TED the national public forum, he notes that bankers deploy banks as weapons of mass destruction against the public.  Unlike so many other law professors and judges who explore the interface of law and economics, he contends that law and economics should serve more than the interests of the wealthy and the powerful.  A felicitous contributor to the public discourse and dialogue, Professor Black’s continuing academic and personal commitment to the common weal and greater good is a good thing.”

. . .

[“This is Walter Kingsbury Brinkley, XYZ News, New York.  Earlier today, the highly coveted Noble Prize In Eco-nomics was awarded to Professor William K. Black, Esq. of the University of Missouri at Kansas City.  In his most celebrated work, Professor Black contends among other observations that the adoption of the rule of law in America is a swell idea.  In a related development, the Swedish bankers convened and announced the 2016 Nobel Prize in E-con-omics given to the individual who has or individuals who have done the most during his, her or their career to advance the interests of the wealthy and powerful.  . . . “]

[See the e-commentary at “Announcing The First Annual Noble Prize In Eco-nomics (May 2, 2016)”, “Award Deadlines (Livelines?) (July 25, 2016)”, “From e-con-omics to eco-nomics? (August 1, 2011)” and “Skip the Nobel in Economics (Oct. 6, 2009).”]

Bumper stickers of the week:

“Yes, as through this world I’ve wandered I’ve seen lots of funny men; Some will rob you with a six-gun, and some with a fountain pen.”  “The Ballad of Pretty Boy Floyd” by Woody Guthrie (c) 1958 (renewed) Woody Guthrie Publications, Inc.

Give a man a gun and he can rob a bank; give a man a bank and he can rob the world.

Announcing The First Annual Noble Prize In Eco-nomics (May 2, 2016)

Posted in Awards / Incentives, Economics, Economics Nobel, Nobel Prize, Noble Prize on May 2, 2016 by e-commentary.org

. . .

          “This year, the first annual Noble Prize in Eco-nomics is to be awarded to the individual or individuals who have made the greatest contribution to the understanding of eco-nomics and the operation of the eco-nomy.  To be announced on the second Monday each October and this year on October 11, the award is established and endowed with a prize purse of $250.  Nominations are accepted through the last Friday each August and this year on August 26.”

. . .

[Send a nomination and a supporting letter to e-ssay@gci.net by August 26, 2017 and send the entry fee to your favorite charity.]

[See the e-commentary at “From e-con-omics to eco-nomics? (August 1, 2011)” and “Skip the Nobel in Economics (October 6, 2009).”]

[See “The Beauty (Pageant?) of Economics.”]

Bumper sticker of the week:

If all economists were laid end to end, they would not reach a conclusion.

National Financial Literacy Month: Teaching Financial Literacy In The “Debt Age” (April 25, 2016)

Posted in Awards / Incentives, Consumerism, Economics, Economics Nobel, Federal Courts, Kleptocracy, Nobel Prize, Noble Prize, Schooling on April 25, 2016 by e-commentary.org

. . .

K          “But do they really want them to be financially literate.”

J          “Who wants a citizenry to be financially literate.  Illiteracy is so profitable.”

K          “What would they teach.”

. . .

K          “For a few hours, they should teach them simply to consume less.  That is the answer.  Devour less.  That goes against the spend and spend and spend and consume and consume and consume mantra they are fed every waking moment on every medium everywhere they venture.”

J          “The same corporations and institutions that ceaselessly propagandize them to spend then underwrite a few hours of instruction advising them, in effect, not to spend.”

. . .

K          “You could teach supply and demand, yet supply and demand no longer drive or dictate price.”

J          “Price/earnings ratios remain a sound financial metric in an economy with accurate price discovery.  With all the government and private sector manipulation and intervention, they are not relevant or reflective metrics of reality.”

. . .

K          “Markets do not exist.  The ‘stock market’ is a Racket.  What few insider trading cases are prosecuted are overturned and repudiated by obliging federal appellate courts doing their job protecting the Kleptocracy.”

. . .

K          “Personal finance courses would at core contradict all the carpet bombing saturation advertising inflicted on the public.  And look how the consequences define our age.  We have evolved from the ‘Stone Age’ to the ‘Bronze Age’ and now to the ‘Debt Age’.”

J          “Still prudent to avoid debt at any cost unless the return is nearly certain.  The debt one assumes to spend time around a college may not be worth the return.”

K          “To the individual and also to society.  Buying a used car and not eating at a restaurant are sound pieces of financial literacy advice.  However, someone must buy new cars and frequent restaurants on occasion.”

J          “The loans for new cars exceed the expected life of the cars.  Restaurants are moving to computer ordering and eliminating the wait staff.” 

. . .

K          “All prices are manipulated and manufactured.  What would you teach.” 

J          “Most current economic curricula in America’s colleges and universities is a secular religion built on inaccurate assumptions and the conviction that growth can continue forever.”

K          “To educate the Nobel Prize winners in Economics in economics, night classes in financial literacy could be offered.”

J          “The classes for them would need to be scheduled around their daily teaching schedules propagandizing the religious orthodoxy.”

. . .

[See the discussions of the “Save” program and the “Credit Abuse Resistance Education” program.]

[See the e-commentary at “Consume, Don’t Invest (Nov. 9, 2009).”]

Bumper sticker of the week:

“The more flak you get the closer you are to the target.”  World War Two bomber’s observation

How To Run A Newspaper (February 8, 2016)

Posted in Craigslist, eBay, Economics, Internet, Journalism, Newspapers, Press/Media on February 8, 2016 by e-commentary.org

. . .

K          “The business plan is simple.  50 percent of the commentators afflict the afflicted and comfort the comfortable.  49 percent question whether afflicting the afflicted and comforting the comfortable is appropriate.  1 percent afflict the comfortable and comfort the afflicted.”

J          “So are they running a newspaper or running a newspaper into the ground.”

K          “They are running.  Scared at this time.  Perhaps they need 99 percent of the commentators to afflict the afflicted and to comfort the comfortable and fire the 1 percent.  Going cautious is the typical reaction.”

. . .

J          “Subscriptions for a product and service that is free elsewhere evaporated.  Without subscribers, the advertisers left.  When the newspaper was no longer the portal to products and the segway to services, it was doomed.”

K          “Craigslist, eBay and other digital outlets undermined the newspapers’ financial base.”

. . .

J          “The digital world provides one commentator per person.  Now we can all find someone to confirm our world view.”

. . .

Bumper stickers of the week:

Speaking Truth to a cinder brick wall.

All The News That’s

Twenty Sixteen (January 4, 2016)

Posted in Collapse, Consumerism, Economics on January 4, 2016 by e-commentary.org

. . .

K          “A system that cannot go on forever will not go on forever.  Can we make a resolution and agree that this will be the year of resolution?”

J          “Not this year.  The financial system will trudge and trundle along.”

K          “Despite so many fractures and so many fissures and so much fraudulent manipulation and so few functioning markets?  Next year?”

J          “Probably not next year.  The system is resilient enough to limp along through next year.”

K          “We keep stealing consumption from the future and leaving debt.  The solvent consumer is a rare and endangered species.  Who will fuel the economy?”

J          “The low price of fuel reflects in substantial part the lack of consumers fueling the economy.  The Middle Class now is the Muddle Class.  The system can muddle along.” 

. . .

J          “An international flare up?  That is in the works and part of the plan.  I reserve my right to revise my time line.”

. . .

K          “Until it can’t.”

J          “Until it can’t.”

. . .

[See the e-commentary at The First Look At The “Second Political Party” (January 2, 2011), The “Superfluous Consumer” (July 27, 2015) and Is The American Consumer Irrelevant? (December 12, 2011).]

Bumper stickers of the week:

Places to Go  People to Annoy

I lost everything and found myself

25 sit ups / 10 push ups

The “Superfluous Consumer” (July 27, 2015)

Posted in Consumerism, Economics on July 27, 2015 by e-commentary.org

. . .

 L          “They say that 70 percent of economic growth is driven by consumer spending.  Yet the consumer is spent.  So many consumers borrowed money (at substantial interest rates) from tomorrow to consume yesterday.  Today, the consumers must borrow from the day after the day after tomorrow to pay for necessaries.”

. . .

M          “What will they do when they can’t consume?”

. . .

Bumper sticker of the week:

Work Buy Consume Die

Prepping: Public And Private Perspectives (April 27, 2015)

Posted in Bail In, Bailout/Bribe, Bankruptcy, Banks and Banking System, Collapse, Debt/Deficits, Depression, Economics, Global Climate Change, Guns, Population, Recession on April 27, 2015 by e-commentary.org

. . .

C          “A system that cannot go on forever will not go on forever.  The System in its current incarnation cannot go on forever.  Thus, the debate shifts fundamentally from ‘if’ to ‘when.’  The syllogism suggests that fundamental change is in store.  Do we have the stores?”

D          “‘When’ not ‘if’ and also ‘what.’  Plan B is by definition less desirable than Plan A or presumably it would be Plan A.  The most desirable plan is failing.  What is Plan B?”

C          “The other systemic challenge is weather.  That problem like the financial machinations is also substantially man-made and man-modified.  Mother Nature allocates every region a specially-tailored natural catastrophe.  Florida and the Southeast get hurricanes, the Midwest gets tornadoes, the West Coast gets earthquakes, other regions get typhoons and cyclones.  And Mother Nature is shifting the script so that some areas get floods and some get drought.  The jet streams and the gulf streams are working in tandem to change things on the ground.”

D          “Leaves you wondering what is Plan B?”

. . .

C          “The script never varies.  The public Emergency Preparedness offices provide detailed lists of necessary supplies and valuable advice yet always unfailingly avoid even hinting that a gun, even one for hunting squirrels or pigeons, is a wise and prudent investment.  Some of them are reluctant even to mention acquiring a knife other than a pocket knife or perhaps a scalpel.”

D          “And the private sector prepper sites go to the other extreme and focus the entire discussion around guns and ammo and ammo and guns and guns and ammo.  The alpha, the bravo, the charlie and the delta of preparation for the Great Omega.”

C          “Get a gun.  We have a moral duty to protect our family and friends.  And get an LED flashlight.  And extra batteries.”

D          “And beans and bullets.  My personal Plan B combines public and private sector suggestions.”

. . .

C          “Going it alone is a failure from the start, yet desperately few humans have the intellectual and emotional software to engage others cooperatively.  Finding others who have resources, skills and tools is not promising.”

D          “At heart, the most prudent preparation is to restrain the dragons in our soul to free our mind.”

. . .

[And this past weekend, earthquakes in Nepal.]

[National PrepareAthon! Day on April 30 is a grassroots campaign for action to increase community preparedness and resilience.]

[See the e-commentary at Beans and Bullets (April 6, 2009), We Ain’t Ants; We Are Grasshoppers (April 9, 2012), On Community (June 3, 2013) and On Roiling And Rolling Collapse (March 9, 2015).]

Bumper stickers of the week:

Get a garden rake, get a gun, get a grip

“If you want to awaken all of humanity, then awaken all of yourself; if you want to eliminate the suffering in the world, then eliminate all that is dark and negative in yourself. Truly, the greatest gift you have to give is that of your own self-transformation.” Attributed by some to Lao Tzu, but who knows.