Archive for the Economics Category

The “Intellectual Infrastructure Investment Act” (“III”)  Oh, And Happy Valentine’s Day! (February 11, 2019)

Posted in Courts, Economics, Education, Law, Law School, Schooling, Schooling Industrial Complex on February 11, 2019 by e-commentary.org

. . .

K          “Who is doing the thinking in America?”

J          “Who is even thinking about who is doing the thinking in America?”

K          “Troubling, when you think about it.”

J          “America has the chattering class and the blabbering class and the blogging class and the twittering twit class, but not really a thinking class.”

. . .

K          “We can draw on the bipartisan enthusiasm for infrastructure.  Think about the ‘Intellectual Infrastructure Investment Act’ (‘III’) or the Triple ‘I’ as it is known in the vernacular.”

J          “Would you first establish and endow a great School of Economics or a great School of Law?  Thought must be given to establishing and endowing a great School of Foreign Policy and not long after that a great School of Journalism.”

K          “We need greatness.  We may have to settle for goodness.  We may have to settle for okayness.  We may have to settle for notcrappyness.  Some institutions need to respond to that must elusive thing in recent American experience:  Competition.  Competition with the Schooling Industrial Complex (‘SIC’).”

J          “But we really need to put the SIC out of business.”

. . .

K          “In a delightful irony, the SIC will fund the new paradigm.  A billion dollar judgment in the CTJ against Harvard Law School for damages from Pompeo’s criminal activity and a billion dollar judgment in the CTJ against Yale Law School for damages from Bolton’s criminal activity provide enough seed money to fund the undertaking.  If necessary, the judgments can be satisfied from the assets of the respective parent corporations.  Just transfer the assets digitally.”

J          “Brilliant.  Shift resources from ‘Schooling’ to ‘Education’ without any government dollars.  The project also should aspire to take the ‘A’ out of the MICAC and to substitute a real ‘A’ for clear thinking.  Let’s get going.”

. . .

[See the e-commentary at “Suing Law Schools; Suing Gun Makers.  Oh, And Happy Law Day! (April 30, 2018)”, “Close the Harvard Business School (February 23, 2009)”, “The Court Of Truth And Justice (CTJ) (August 29, 2016)”, “On The Digital Revolution (March 22, 2010)”, “‘Adjunktification’ In The S.I.C. (Schooling Industrial Complex) (March 13, 2017)”, “Schooling The Apparatchiks For the Kleptocrats (December 7, 2015)”, “On Merit and the Meritocracy (January 11, 2010)”, “Clinton, Inc., Trump, Inc., Bush, Inc., Kennedy, Inc., O’Bama, Inc. (October 24, 2016)”, “MPP / MPA:  Are They Really Masters? (November 13, 2017)” and “Johnnie Bolton:  The Triumph Of the Chickenhawks And Neo-Cons.  Join Fellow Patriots For The ‘April 14 Rally’ And The Memorial Day ‘March For America’.  Oh, And Happy April Fool’s Day. (April 2, 2018)”.]

Bumper stickers of the week:

I support the “III Act”

Think big, think long

Stagflation?!?  Hands Down Or Hands Up? (January 14, 2019)

Posted in Deflation, Economics, Inflation, Price, Stagflation, Stock Market on January 14, 2019 by e-commentary.org

. . .

K          “The way I see the economy unfolding and unfurling in the near future, everything in or on your hands right now (stocks, bonds, lands, rides, gloves, etc.) will drop precipitously in price and everything you need to get your hands on to live (grub, aqua, tent, bike, threads, etc.) will rise staggeringly in price . . . and in value.”

J          “The old ‘lose-lose’ situation.  So many people are living a hand-to-mouth existence without much in or at or on hand to use or to lose and not much in their pockets to hand over for daily necessities.”

K          “One’s assets will halve, one’s expenses will at least double.”

. . . 

K          “For those who rode the rise, the taxes that were assessed on the assets as they rose in price will not be rebated when the assets retreat in price.”

J          “And as the assets rose in price but not in real economic value, the ‘wealth effect’ induced and seduced the owners of the assets to spend more and to incur more debt because they thought they were effectively wealthier.  Those spent monies are gone and those debts are still here and naggingly awaiting discharge.”

. . .

[See the e-commentary at “The Fed: Deal with ‘Stag’; Deal with ‘Flation’? August 7, 2006)”, “Stagflation And The Fed (September 17, 2007)”and “Going Forward With The ‘Reverse Stock Split’ (February 5, 2018)” proposing to double or even triple or even quadruple the Dow overnight just for fun.]

Bumper stickers of the week:

Hard come, easy go

stocks/2 + bonds/2 + lands/2 + rides/2 + gloves/2 + etc./2 = Net Worth;  

grub x 2 + aqua x 2 + tent x 2 + bike x 2 + threads x 2 + etc. x 2 = Recurring Expenses

Darkness . . . And Light.  Oh, And Happy Winter Solstice! (December 17, 2018)

Posted in Economics, Education, Energy, Environment, Politics, Society on December 17, 2018 by e-commentary.org

. . .

J          “There is far too much darkness.  I know what needs to be known and I know what needs to be done.  And I know what needs to be known because I rejected so much of what I was told I needed to know.  And yet what needs to be done cannot be done.  The whole system is laced with so many checks and balances that keep a concerned citizen in check and everything out of balance.”

K          “And there is far too little light.  I understand so much, yet I do not understand why I do not have the good sense and the maturity to quit caring.”

. . .

[See the e-commentary at “The Power Of Small Thinking (March 12, 2018)” and “On Standards & Quality (July 20, 2015)”.]

Bumper stickers of the week:

Think big!

I think big, therefore I am

Happy Winter Solstice!

Everything Monopolized, Nothing Economized.  Completion Of “The General Theory Of Economics” Is In Remission . . .  Oh, And Happy Halloween! (October 29, 2018)

Posted in Economics, Economics Nobel, Market Solutions, Markets, Monopoly, Noble Prize in Eco-nomics, Price, Technology on October 29, 2018 by e-commentary.org

. . .

J          “Bummer.  After all that time and thought.”

K          “And all that fun.  I tell you I realized that if it was going to be done and if it was going to be done right, I would have to do it to get it done right.”

J          “Been there.  Done that.”

. . .

K          “A construct such as the IS-LM model is largely malarkey but is heuristically valuable.  Today, the fundamental problem trying to describe and direct the operation and function of the economy is that there really is not an operating and functioning economy.  With all of the distortion, intervention and manipulation, price is not tied to anything real.  Every business, every single business in every single industry, is a monopoly.  The business is the industry; the industry is the business.  From pork to politics.”

J          “Yet only a few folks have discovered and understand that we cannot discover price.  Price discovery now is so passé.  Without price, we cannot communicate in the economic marketplace.  And the central bankers working alone and together destroyed the language of the marketplace.”

. . .

K          “He left Iowa with his father marketing the hogs to five potential buyers and returned to find that one buyer sets the price.”

J          “And both Senators from Iowa are Republicans.  You don’t have to ‘go figure’ when ‘it figures’ so clearly.”

. . .

J          “And the Swedish central bankers reward those individuals who provide the economic cover for the crimes and misdemeanors of all the central bankers by giving their ignoble ‘Nobel’ Prize in E-con-omics to the most successful errand boy or girl.”

K          “The Noble Prize in Eco-nomics is the part of the answer.”

. . .

J          “The most vexing monopoly is the government/corporate syndicate that precludes any competing alternative entity.”

K          “The twisted irony is that most industries, and all the major tech industries without exception, are basically ‘natural monopolies’ and thus ‘utilities’ such as the water company.  A utility is a monopoly.  A monopoly must be regulated.  Yet the tech companies/tech utilities own the government and quash any regulation.”

. . .

J          “The Republican political monopoly firmly supports the current economic monopolies who in turn own the Republican political monopoly.  The Death Spiral is spiraling but not changing.”

K          “In a fortnight, the slow boiling coup d’état by the Republicans could be completed by the Republicans.  If the Democrats do not take the House, the control of government will be concentrated in one mega-corporation – the Republican Party, Inc. / the Corporation, Inc.  The political ‘campaign’ is aptly namely for battle because the Democrats are charging east up Jenkins Hill trying to retake the southern flank of the Capitol and the House of Commons under intense enemy fire.  We need to hire the friends and fire the enemy.”

J          “The Presidency is a lock, the Judiciary is the stock and the Congress is the barrel.  Lock, stock and barrel.” 

K          “For the next two years at least, the Presidency is indeed a lock for the Republicans.  For the rest of our time on this Planet, the judiciary is a laughing stock and a wholly-owned subsidiary of the Republican Party, Inc. / the Corporation, Inc. doing their bidding.  And the Republican Congress has the ordinary citizen over a barrel.”

J          “Hook, line and sinker.  We are hooked, they have us firmly on the line and all of us are sunk.”

. . . 

[See the discussion in “This is Not a Market” in “The Automatic Earth” by Raul Ilargi Meijer dated April 23, 2018.]

[See the scary e-commentary last Halloween at “Are ‘Prices’ Language?  Are Antitrust Laws Grounded In The First Amendment?  How Do We Forestall The ‘Frightful Five’ And Other Monopolies. Oh, And Happy Halloween! (October 30, 2017)”.]

Bumper sticker of the week:

Free markets now!

Third Annual Noble Prize In Eco-nomics (October 8, 2018)

Posted in Awards / Incentives, Economics, Economics Nobel, Nobel Prize, Noble Prize, Noble Prize in Eco-nomics on October 8, 2018 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.  Eco-nomics is about making and sharing; e-con-omics is about taking and stealing.”

J          “The Noble Prize in Eco-nomics is a delightful and playful replacement for the discredited and misnamed ‘Nobel’ Prize in Voodoo E-con-omics.  And I get it.  You get what you reward.  You need to reward what you want to get.  Who gets it this year?”

K          “The recipient of the third annual Noble Prize In Eco-nomics is . . . Ellen H. Brown who writes and speaks about money, banking, financial reform and the need for publicly run banks.  A lawyer and political candidate, Ms. Brown is the founder and president of the Public Banking Institute, a nonpartisan think tank researching and advocating for the creation of publicly run banks.  She has authored twelve books including Web of Debt and The Public Bank Solution, speaks regularly on these topics and crafts the “Web of Debt Blog.”  Her considerable corpus of work is undergirded by the conviction that eco-nomics should be concerned with pursuing the public good not just producing goods.”

. . .

J          “The ‘Nobel’ Prize in Voodoo E-con-omics is given by the Swedish Central Bank to someone who advances the interests of the central bankers or at least does not threaten them.  Their selections are not surprising.  Ellen Brown is number ‘n’ on the central bankers’ list of possible recipients.” 

K          “Bill Black is a co-number ‘n’ on the central bankers’ list of possible recipients.”  

. . .

K          “The Committee also examined and considered the pioneering work of Professors Mark Skidmore and Laurence  J. Kotlikoff who have contributed immensely and without enough credit to tracking and analyzing federal expenditures that are not on the books or part of the public discussion.”

. . .

[See the “Intergenerational Financial Obligations Reform Act” (INFORM Act), “Has Our Government Spent $21 Trillion Of Our Money Without Telling Us?” in “Forbes” by Laurence Kotlikoff and Mark Skidmore dated December 8, 2017 and “Heretics welcome!  Economics needs a new Reformation” in “The Guardian” by Larry Elliott dated December 17, 2017.]

[See the e-commentary at “Second Annual Noble Prize In Eco-nomics (October 9, 2017)”, “First Annual Noble Prize In Eco-nomics (October 10, 2016)”, “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 (October 6, 2009)”.]

Bumper stickers of the week:

The life cycle of American business:  Engineers build, salespersons sell, hedge funders loot

When what is known as “e-con-omics” transitioned to “behavioral economics,” the undertaking should have been moved from the department of religion to the department of psychology.  The undisciplined discipline does not require its own department.

Boycott banks; support credit unions

The Taxonomy Of The American Economy (May 21, 2018)

Posted in Class, Economics, Kleptocracy, Race on May 21, 2018 by e-commentary.org

. . .

K          “The economic and political system exists for the benefit of the one one-thousandths of one percenters (.001 %) and the remaining members of the One Percenters (.999 %).  The Four Percenters (4 %) include the schooled servants squiring to the needs of the One Percenters.”

J          “The tax lawyers, obeisant judges, lecherous lobbyists, teeth whitening dentists, pliant politicians, public relations spin doctors, officious bureaucrats, tummy-tuck plastic surgeons, and their ilk.”

K          “As long as they obey and play, they get the pay.”

J          “They say.  The Fifteen Percenters (15 %) may stay a pay check or two ahead of calamity, yet many are never really economically secure or free of the nagging concerns that haunt them at three in the morning.”

K          “The butcher, the baker and the candle stick maker.  The good old Middle Class.  The good old Middle Class has been badly butchered, baked and left in the dark and the dirt.  Is it even as high as fifteen percent if you factor in the insecure position of so many of them?”

J          “Beneath them are the Eighty Percenters (80 %) who have desperately little chance of ever participating in the American dream.”

. . .

J          “The Dow and the Russell 5000 Index and such metrics measure the economic situation and security of the Five Percenters, not of the general public.  Assessing the real economy requires one to study metrics such as the U6 measure of unemployment of those who were making under $50,000 when they were fired or laid off, opioid use, child mortality rates, consumer debt loads, etc.”   

K          “The poor, the dispossessed, the downtrodden, the unwashed masses, [the] hoi polloi, the sheeple are summoned on election day for an hour to vote their fears and hopes and summarily disregarded the rest of the time.”

J          “Seems we could do better.”

. . .

[See “Shadow Stats” collected by John Williams and navigate the site and the sources.]

[See the e-commentary titled “The Microeconomics of Suburban Subsistence (February 7, 2005)”, “The Microeconomics of Suburban Subsistence: Three Years Later (February 4, 2008)” and “Justice Is a Middle Class Creation, Delusion and Aspiration (March 20, 2017)”.]

Bumper stickers of the week:

Feed the homeless to the hungry

The beatings will continue until morale improves

Are “Prices” A Language? Are Antitrust Laws Grounded In The First Amendment? How Do We Forestall The “Frightful Five” And Other Monopolies? Oh, And Happy Halloween! (October 30, 2017)

Posted in Amazon, Apple, Constitution, Economics, Facebook, First Amendment, Google, Internet, Language, Microsoft, Monopoly, Price, Radio, Technology on October 30, 2017 by e-commentary.org

. . .

K          “Prices for goods and services are a language spoken with numbers (7) not letters (L).”

J          “I love language.  French is the language of love and the language of diplomacy.  Accounting is the language of business.  So Prices are the language of a free market economy?”

K          “Yes.  Russian is one of the languages of literature.”

J          “So is French.”

K          “And English.”

. . .

K          “Monopolies distort Prices which distorts speech.  By distorting Prices, the public is making inaccurate and incomplete decisions and paying more for goods and services while the corporations are not internalizing externalities.”

J          “Price may just be the real Esperanto.”

. . .   

J          “The current monopolies are in part the consequence of acts of commission and even more often acts of omission by the government.”

K          “The problem with my analysis is that the First Amendment is a restriction on government activity not a requirement for government action.”

J          “So the Constitution is unavailing.  We are stuck with Congress, the executive agencies and the courts to protect us.”

K          “They do not speak our language.”

. . .

[See the interview by Terry Gross with the tech columnist Farhad Manjoo with “The New York Times” who cautions that the “Frightful Five” (Amazon, Google/Alphabet, Apple, Microsoft and Facebook) are more powerful than the governments on the “Fresh Air” radio program titled “How 5 Tech Giants Have Become More Like Governments Than Companies” on October 26, 2017.]

Bumper stickers of the week:

Spanish is the language a man uses to talk to his God;

French is the language a man uses to talk to his wife;

Italian is the language a man uses to talk to his mistress;

German is the language a man uses to talk to his mule.

And English is the language a man uses to fly a plane or to surf the web or to engage in international discourse.  You create it, you talk it.

And Price is the language a man and a woman use to value and exchange resources.