Mark Blyth, the economist who's making sense
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Fogdog
Well-Known Member
Mid-Willamette. Love black cod. Sometimes it's available off the docks in Newport. I've lived here for about 25 years. Before that, lived in Idaho. East of Bend, I just call Idaho. I loved living in Idaho but there were some pockets of truly hard line racists in portions of that state. Probably worse now that the fascist in chief is in the office.
ttystikk
Well-Known Member
Hmmmm...
That's clear evidence that Buck can't take the heat he dishes out.
Nothing I said was inappropriate, and it certainly wasn't anywhere near as nasty as he is to others on a regular basis.
Clear evidence of bias.
i dont mod politics so i dont know
Fogdog
Well-Known Member
The gross domestic product (GDP) is one of the primary indicators used to gauge the health of a country's economy.
That post was not deleted by you?
ttystikk
Well-Known Member
Nope.
Fogdog
Well-Known Member
GDP represents the total dollar value of all goods and services produced over a specific time period; you can think of it as the size of the economy.
oops, double negative in your reply. I'll ask again and format the question better.
Did you delete that post?
ttystikk
Well-Known Member
Fogdog
Well-Known Member
You said I needed to post something about economics in order to earn the right to post in "your" thread. By posting the definition of GDP, I'm following instructions while following up on what I see as a minor outrage in the deletion of your text.
I'm processing what happened to your post, thinking about what it means. It was unfair. You don't think that it was some grand argument that would have convinced the masses of anything do you? It was a complaint in the form of a rant so far as I can tell. Still, not anything different from reams of other posts you have made and so, I can see the disconnect. Perhaps it represents a change in your status with mods.
On the other hand, it didn't contain anything about economics and so, violated your own rules for this thread. But then again, it's your thread and you can enforce the rules however you like. But then again, maybe somebody was helping you out by deleting a stupid post that violated your own rules. IDK
Overheating of an economy occurs when its productive capacity is unable to keep pace with growing aggregate demand.
ttystikk
Well-Known Member
Other forces can crash an economy. Extreme income and wealth inequality caused the crash in 1929 and those same forces are more extreme now than they were then.
Fogdog
Well-Known Member
Umm,
Extreme income and wealth inequality are not mentioned as causes of the 1929 crash and subsequent great depression of 1930's anywhere that I can find. Some links to economic analyisis:
http://www.economicshelp.org/blog/76/economics/wall-street-crash-1929/
or here:
https://en.wikipedia.org/wiki/Wall_Street_Crash_of_1929
https://en.wikipedia.org/wiki/Causes_of_the_Great_Depression
What I read is there isn't consensus but nobody says wealth inequality.
Get your head out of your ass and stop creating history according to ty.
ttystikk
Well-Known Member
You're quoting Wikipedia as the definitive source and I'm the one with my head up my ass?
Fogdog
Well-Known Member
Wikipedia is now fake news to you? LOL You sound like a Trump supporter more and more each day. I posted another link but don't expect that you would have taken the time to read and comprehend it.
I completely agree with that video. Wealth inequality in societies causes social instability. The economy is small beer compared to that kind of problem. Of course during times of social instability, an economy could crash but the Crash of 1929 was not caused by social instability. Social instability was an outcome of the crash, followed by ham-handed reaction by Hoover's administration. Fortunately the people then were smart enough to prevent resultant social instability from completely wrecking this democracy by implementing, as Reich mentions, the new deal, unions, etc.
So, if you were to say that the division and social instability of today are due to wealth inequality, I'd say you are right. If you were to say that wealth inequality caused the great recession that began in 2007, I'd say, no. That was caused by among other things, unsustainable consumer debt, corrections in an over-heated economy and loss in confidence in banks due to their strange and artificially priced junk bond securities.
A civil war would certainly wreck this economy. No argument that social instability can cause tremendous economic turmoil among other things.
ttystikk
Well-Known Member
Fogdog
Well-Known Member
Because you were completely wrong about the causes of the Great Depression? Because if we can't agree on the facts we'll never agree about the path forward?
Padawanbater2
Well-Known Member
Because he calls anyone who supports Sanders a 'BernieBro' or 'Berniebaby' and doesn't respect alternative viewpoints
We can't have a civil discourse because the opposition doesn't respect them, because they can't divorce emotion from the issues
It creates unnecessary tension towards honest, legitimate discussion. An artificial barrier, designed to insulate the "victim" from the "perpetrator". A "safe space" if you will.
If you can't dazzle them with brilliance, baffle them with bullshit
ttystikk
Well-Known Member
And now for a little economic camp, as only Lee can do it;
By Lee Camp, host and writer of "Redacted Tonight" on RT America
Enjoy the Trump Show While Wall Street Pillages the Country
Donald Trump is the best thing to happen to Wall Street in twenty years. …This is because since the moment he took the oath of office, no one has so much as uttered a word about Wall Street. And much like Tyler Durden, Wall Street LOVES when no one is talking about it. (Also much like Tyler Durden Wall Street has an army of automatons wreaking mayhem throughout the land while those tasked with policing them are either incompetent, bought off, or both.)
As long as Donald Trump is caressing the White House with the care and loving kindness of a bull in a china shop being chased by a farmer trying to collect its testicles – As long as that’s going on, Wall Street can continue the breathtaking and unfettered pillaging of our country without the slightest bit of oversight. And of course Trump has put Goldman Sachs in charge of the economy, just as President Obama did. [Insert your own fox/ hen house joke here, but I warn you, we’ve heard them all.]
Many people have their complaints about Occupy – It didn’t have a clear goal, it was populated by rich white kids, it smelled… less than savory. None of those complaints adhered to even a lax definition of “true,” but the truth doesn’t matter when America believes something deep down in its gut where John Cena lives. Say what you will about Occupy, but you can’t deny that while it was going on, the nation’s attention was on Wall Street.
During the 2011/ 2012 Occupy movement, for the first time in years the entire country took a critical eye to the institution that was running our economy (by “running” I mean “dry humping”). The nation FINALLY cared that this institution was steadily extracting all of the wealth and resources and giving it (in an unmarked bag) to a tiny percentage of men and women (mainly men) who smelled impeccable. Even those citizens who were wrongly disgusted by Occupy still felt that Wall Street was exploiting the American people at a jaw-dropping pace. And they got angry. The country got angry. FINALLY – at long last – everyone got ANGRY.
This is when the mainstream media did what they do best – they acted as the white blood cells attacking the infection in the system. (And I’m sure I’m not the first to use that analogy.) In this case the “infection” was activists calling attention to the full-blast destructive tendencies of capitalism. The media piled on the protesters as if those activists were the ones sucking every last penny out of the American people. This, along with a healthy dose of militarized police and FBI infiltration, is how Occupy ended up maligned and imprisoned. The white blood cells then moved on to step three of Operation Protect Wall Street (step one is ignore the protests, step two is attack the protesters). Step three is the same as step one – “ignore,” which is akin to silencing. We saw these identical steps with Standing Rock. Most protest movements don’t get past step one; the mainstream media ignores them to see if they’ll simply go away, and it usually works. In fact until social media came along, it almost always worked. But now the internet has allowed for an alternate path to public awareness (and an alternate path to AMAZING photos of cats partaking in a variety of very un-catlike tasks). And this is why crushing net neutrality is something the FCC and Wall Street are drooling over. …But I digress.
Right now the amounts of money being thrown around on Wall Street are bigger than they’ve ever been. There’s a massive auto loan bubble, and student loan bubble, and various other bubbles, and they’re all itching, aching, juking, and jiving to burst into a thousand pieces that will result in a lot of people going broke and McDonald’s McRib suddenly looking like a delicacy. The five richest men in the world have the same amount of wealth as the bottom half of the world – 3.67 BILLION people, and in the U.S. 99% of the wealth created since the “recovery” from the 2008 collapse has gone to the top 1%. The people that work on Wall Street – at the hedge funds and the big banks – do nothing but push around ones and zeros (and lowly interns). Yet they make more in a day than most people make in a year – and some people make in a lifetime.
This ravenous extraction of the wealth and resources of America only got worse under Obama and is only getting worse than the previous worse under Trump. For some ODD reason the Goldman Sachs officials that Obama/Trump put in charge of our economy never seem to want to regulate the big banks. …Yet the mainstream media isn’t talking about any of this because it’s not a silly tweet by Donald Trump. They also aren’t covering it because a) they serve massive telecoms that love Wall Street’s criminal schemes, b) it doesn’t fit into the “Democrats good/ GOP bad” (or vice versa) paradigm that every story must wear like an ill-fitting gown, and c) it also doesn’t fit into the “RUSSIA DID IT!” paradigm that every story must wear overtop its ill-fitting gown.
The dutiful white blood cells know that putting on these gowns will distract us all from the continued pillaging by the ultra wealthy. And those white blood cells may not like mixed metaphors as much as I do (I like them a lot), but they love anything that allows their corporate owners to go about business as usual. Not all who work at the mainstream media are villainous or even morally vacant, but those who aren’t are useful idiots greasing the gears of a neo-liberal/ neo-con extraction of the world.
Now, if you’re a good citizen, after finishing this column you should forget about the numbers you read within it, you should ignore the endless exploitation it reminded you about, and you should move past the thoughts of impending devastation that inevitably follow such exponential wealth redistribution and gut wrenching inequality. Instead you should find a Trump tweet (preferably something about a celebrity bleeding), and you should get furious about it. Then spend your day stewing over that and only that. Tomorrow find a new tweet: rinse and repeat. …Wall Street thanks you.
By Lee Camp, host and writer of "Redacted Tonight" on RT America
Enjoy the Trump Show While Wall Street Pillages the Country
Donald Trump is the best thing to happen to Wall Street in twenty years. …This is because since the moment he took the oath of office, no one has so much as uttered a word about Wall Street. And much like Tyler Durden, Wall Street LOVES when no one is talking about it. (Also much like Tyler Durden Wall Street has an army of automatons wreaking mayhem throughout the land while those tasked with policing them are either incompetent, bought off, or both.)
As long as Donald Trump is caressing the White House with the care and loving kindness of a bull in a china shop being chased by a farmer trying to collect its testicles – As long as that’s going on, Wall Street can continue the breathtaking and unfettered pillaging of our country without the slightest bit of oversight. And of course Trump has put Goldman Sachs in charge of the economy, just as President Obama did. [Insert your own fox/ hen house joke here, but I warn you, we’ve heard them all.]
Many people have their complaints about Occupy – It didn’t have a clear goal, it was populated by rich white kids, it smelled… less than savory. None of those complaints adhered to even a lax definition of “true,” but the truth doesn’t matter when America believes something deep down in its gut where John Cena lives. Say what you will about Occupy, but you can’t deny that while it was going on, the nation’s attention was on Wall Street.
During the 2011/ 2012 Occupy movement, for the first time in years the entire country took a critical eye to the institution that was running our economy (by “running” I mean “dry humping”). The nation FINALLY cared that this institution was steadily extracting all of the wealth and resources and giving it (in an unmarked bag) to a tiny percentage of men and women (mainly men) who smelled impeccable. Even those citizens who were wrongly disgusted by Occupy still felt that Wall Street was exploiting the American people at a jaw-dropping pace. And they got angry. The country got angry. FINALLY – at long last – everyone got ANGRY.
This is when the mainstream media did what they do best – they acted as the white blood cells attacking the infection in the system. (And I’m sure I’m not the first to use that analogy.) In this case the “infection” was activists calling attention to the full-blast destructive tendencies of capitalism. The media piled on the protesters as if those activists were the ones sucking every last penny out of the American people. This, along with a healthy dose of militarized police and FBI infiltration, is how Occupy ended up maligned and imprisoned. The white blood cells then moved on to step three of Operation Protect Wall Street (step one is ignore the protests, step two is attack the protesters). Step three is the same as step one – “ignore,” which is akin to silencing. We saw these identical steps with Standing Rock. Most protest movements don’t get past step one; the mainstream media ignores them to see if they’ll simply go away, and it usually works. In fact until social media came along, it almost always worked. But now the internet has allowed for an alternate path to public awareness (and an alternate path to AMAZING photos of cats partaking in a variety of very un-catlike tasks). And this is why crushing net neutrality is something the FCC and Wall Street are drooling over. …But I digress.
Right now the amounts of money being thrown around on Wall Street are bigger than they’ve ever been. There’s a massive auto loan bubble, and student loan bubble, and various other bubbles, and they’re all itching, aching, juking, and jiving to burst into a thousand pieces that will result in a lot of people going broke and McDonald’s McRib suddenly looking like a delicacy. The five richest men in the world have the same amount of wealth as the bottom half of the world – 3.67 BILLION people, and in the U.S. 99% of the wealth created since the “recovery” from the 2008 collapse has gone to the top 1%. The people that work on Wall Street – at the hedge funds and the big banks – do nothing but push around ones and zeros (and lowly interns). Yet they make more in a day than most people make in a year – and some people make in a lifetime.
This ravenous extraction of the wealth and resources of America only got worse under Obama and is only getting worse than the previous worse under Trump. For some ODD reason the Goldman Sachs officials that Obama/Trump put in charge of our economy never seem to want to regulate the big banks. …Yet the mainstream media isn’t talking about any of this because it’s not a silly tweet by Donald Trump. They also aren’t covering it because a) they serve massive telecoms that love Wall Street’s criminal schemes, b) it doesn’t fit into the “Democrats good/ GOP bad” (or vice versa) paradigm that every story must wear like an ill-fitting gown, and c) it also doesn’t fit into the “RUSSIA DID IT!” paradigm that every story must wear overtop its ill-fitting gown.
The dutiful white blood cells know that putting on these gowns will distract us all from the continued pillaging by the ultra wealthy. And those white blood cells may not like mixed metaphors as much as I do (I like them a lot), but they love anything that allows their corporate owners to go about business as usual. Not all who work at the mainstream media are villainous or even morally vacant, but those who aren’t are useful idiots greasing the gears of a neo-liberal/ neo-con extraction of the world.
Now, if you’re a good citizen, after finishing this column you should forget about the numbers you read within it, you should ignore the endless exploitation it reminded you about, and you should move past the thoughts of impending devastation that inevitably follow such exponential wealth redistribution and gut wrenching inequality. Instead you should find a Trump tweet (preferably something about a celebrity bleeding), and you should get furious about it. Then spend your day stewing over that and only that. Tomorrow find a new tweet: rinse and repeat. …Wall Street thanks you.
SneekyNinja
Well-Known Member
Swallow that bullshit from Putin's mouthpiece...
And go on, tell us again how Hillary would've been "just as bad".
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