Oh goody! MORE money for the rich! by SIGNYM

REAL WORLD EVENT DISCUSSIONS

Oh goody! MORE money for the rich!

POSTED BY: SIGNYM
UPDATED: Tuesday, September 29, 2015 04:39
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Sunday, September 27, 2015 10:34 AM

I believe in solving problems, not sharing them.

It's been fairly widely acknowledged that zero interest rates haven't caused the economy to reach "liftoff". Even Janet Yellen acknowledged that idea when she refused to raise interest rates this month because many years of near-zero interest rates have not had the desired effect. With the world facing yet another recession, what can The Fed do to keep finances spinning?

Well, the banks are calling for negative interest rates (you pay to keep your money in the bank), outlawing cash, and sheer "helicopter money" (when money is thrown out of a helicopter)

Citi Calls For Money Paradrops

http://www.zerohedge.com/news/2015-09-23/here-we-go-citi-officially-ca
lls-monetary-paradrops-government-literally-paying-itse

Unfortunately, that doesn't mean actual paradrops; because that would imply a fairly even-handed disbursement of monies. The article explains that since ZIPR (zero-intrest-percentage-rates) haven't done the trick "stimulating" the economy, maybe The Fed needs to extend a guarantee that government debt will be extended interest-free ad infinitum! That will encourage (even more!) government deficit spending.

But since Republicans are reluctant to spend on ridiculous things like bridges, highways, water supplies, sewage infrastructure, energy efficiency and communication, how about instead of actual spending on "stuff" like that, maybe Republicans can be persuaded to deficit spend on reduced taxes instead?

Quote:
If the government understands that the CB’s QE is permanent it opens the door to direct fiscal measures and increased demand. Congress may have different ideas on the virtues of additional spending, but they could be tempted by the prospect of Fed-funded tax cuts. There is nothing that forces fiscal policy to be highways and bridges, rather than low personal or corporate tax rates. There are plenty of Republican tax cutting proposals that rely on economic expansion or animal spirits to close the fiscal hole that the tax cut brings

http://www.zerohedge.com/news/2015-09-23/here-we-go-citi-officially-ca
lls-monetary-paradrops-government-literally-paying-itse

Yep, more tinkle-on economics! Because clearly, if government policy intended to make the rich even richer and the poor poorer hasn't worked, we should do more of the same!

Right?

One of the things I keep harping on is the demand-theory of economics: Unless you can sell your product, you're not about to invest in more production. But if you reduce the money that your customers have available to spend on your products, you're undercutting your own business. And despite the sheer self-destructiveness of policy which encourages wealth inequality and undercuts your customers, business can always convince the gubmint to do more of the same.

The quest for business has never been for cheap labor or commodities. The ONE thing business always fall short on, and is always in a quest for, is MARKETS. That's because businesses -in a quest for cheap labor- always reduce their own markets. It's hard to envision that such a self-destructive system can manage to exist, but it does.

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Sunday, September 27, 2015 11:13 AM

SIGNYM

I believe in solving problems, not sharing them.

Quote:
The distribution of income in the US is worse than in
Afghanistan
Albania
Algeria
Armenia
Australia
Austria
Azerbaijan
Bangladesh
Belarus
Belgium
Benin
Bosnia/Herzegovina
Burkina Faso
Burundi
Cambodia
Cameroon
Canada
Cote d’Ivoire
Croatia
Cyprus
Czech Republic
Denmark
Egypt
Estonia
Ethiopia
Finland
France
Germany
Ghana
Greece
Guinea
Guyana
Hungary
Iceland
India
Indonesia
Iran
Ireland
Israel
Italy
Japan
Jordan
Kazakhstan
Kenya
South Korea
Kyrgyzstan
Laos
Latvia
Liberia
Lithuania
Luxembourg
Macedonia
Malawi
Mali
Malta
Mauritania
Mauritius
Moldova
Mongolia
Montenegro
Morocco
Nepal
Netherlands
New Zealand
Nicaragua
Niger
Nigeria
Norway
Pakistan
Philippines
Poland
Portugal
Romania
Russia
Senegal
Serbia
Slovakia
Slovenia
Spain
Sweden
Switzerland
Taiwan
Tajikistan
Tanzania
Timor-Leste
Tunisia
Turkey
Turkmenistan
Uganda
Ukraine
UK
Uzbekistan
Venezuela
Vietnam
Yemen.

The concentration of US income and wealth in the hands of the very rich is a new development in my lifetime.

http://www.zerohedge.com/news/2015-09-26/paul-craig-roberts-warns-enti
re-world-may-go-down-tubes-together

Paul Craig Roberts is a former Assistant Secretary of the Treasury for Economic Policy in the Reagan administration. He is a former editor and columnist for the Wall Street Journal, Business Week, and Scripps Howard News Service.

--------------
You can't build a nation with bombs. You can't create a society with guns.

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Sunday, September 27, 2015 3:39 PM

WHOZIT

You should mention that Hillary is in Hollywood at a $2,700 per plate fund raiser, that's more money for the rich too right?

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Monday, September 28, 2015 8:05 PM

1KIKI

Goodbye, kind world (George Monbiot) - In common with all those generations which have contemplated catastrophe, we appear to be incapable of understanding what confronts us.

Hillary is a corporatist. She's only a bit less draconian than the republicans in how she plans to take from the poor and middle class (what's left of it) and give to the rich.

So tell me, zit, who do YOU support?

SAGAN: We are releasing vast quantities of carbon dioxide, increasing the greenhouse effect. It may not take much to destabilize the Earth's climate, to convert this heaven, our only home in the cosmos, into a kind of hell.

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Tuesday, September 29, 2015 4:39 AM

SHINYGOODGUY

President Trump is looking to reduce the tax bite on.............wait for it.........the rich. What a novel idea! Original and funky fresh!

Cutting taxes for the wealthy from 39.5% to 25%. And you guys thought he wasn't a serious contender. Oh, I'm going out and voting right now!

And finally, America is going to be great again!

SGG

Quote:
Originally posted by whozit:
You should mention that Hillary is in Hollywood at a $2,700 per plate fund raiser, that's more money for the rich too right?

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