tag:blogger.com,1999:blog-32790835023539142512024-11-01T05:34:12.440-05:00Taking Back America, One election at a time...pbtrue1http://www.blogger.com/profile/02139638891694946432noreply@blogger.comBlogger42125tag:blogger.com,1999:blog-3279083502353914251.post-26287365039250558992013-10-15T18:07:00.000-05:002013-10-15T18:07:39.139-05:00

Let's talk about this debt limit thing.How many other countries have such a thing?One, Denmark.From a legal and legislative point of view, the US and Danish debt ceilings are similar. Both countries require legislative action to raise the ceiling. However, the Danish approach to this process is very different.The current Danish debt ceiling is fixed at 115 percent of 2010 GDP. Since the

Ron (AKA Albert)http://www.blogger.com/profile/01272053058545533776noreply@blogger.com0tag:blogger.com,1999:blog-3279083502353914251.post-85302813691182478142013-10-12T14:25:00.000-05:002013-10-12T14:25:51.295-05:00

I hope this passes for a correct attribution. The following is excerpted from a Facebook entry (https://www.facebook.com/photo.php?fbid=600696526636505&set=a.433295386709954.96727.433288343377325&type=1) by Tom Joad (https://www.facebook.com/TomJoadLives). This story is less politics and more economics. ... [Many are ] feeling the strain of what the Republicans are doing to the country

Ron (AKA Albert)http://www.blogger.com/profile/01272053058545533776noreply@blogger.com0tag:blogger.com,1999:blog-3279083502353914251.post-52791521691986130992013-09-24T16:37:00.000-05:002013-09-24T16:37:43.457-05:00

From: Mike Norman EconomicsAn MMT site bringing you dogma-free economics without the pleadings of self interest    Home    Mike Norman Bio    Videos    Sep 16-20 Forex Trading course    Contact infoTuesday, September 24, 2013 This (f*%#ing) TownIt seems like a cruel irony to me that as a society, we have never been more

Ron (AKA Albert)http://www.blogger.com/profile/01272053058545533776noreply@blogger.com0tag:blogger.com,1999:blog-3279083502353914251.post-82767841936374752212013-05-29T11:27:00.000-05:002013-05-29T11:27:06.718-05:00

I have been taken to task for suggesting that federal taxes on corporations are probably unnecessary and counter productive. It was suggested that corporations should shoulder their share of the cost of the utilities and services they use. That this may be true depends on who is providing these services.If the federal government, the sovereign, provides the service, such as an interstate highway,

Ron (AKA Albert)http://www.blogger.com/profile/01272053058545533776noreply@blogger.com0tag:blogger.com,1999:blog-3279083502353914251.post-58301972123570384512013-05-27T14:25:00.000-05:002013-05-27T14:25:15.888-05:00

Listening to an online  conversation last evening and, as an aside, I wondered whether corporations should be taxed, at least as far as the income tax code goes.  I cannot see that it serves a useful purpose.The first question that must be asked is what taxes actually pay for.  Taxes, in our present economic system, do not pay for anything.  (I can hear brain cells, especially

Ron (AKA Albert)http://www.blogger.com/profile/01272053058545533776noreply@blogger.com2tag:blogger.com,1999:blog-3279083502353914251.post-3246154629836331532013-03-04T20:10:00.000-05:002013-03-04T20:10:12.048-05:00

When someone deposits money in a bank, the bank takes on a liability; it owes money to the depositor. It also takes on an asset, the cash deposited. At the present time it, the bank, only needs to keep 10% of that asset in cash so it makes a loan and transfers the cash asset to a loan asset. As the loan is repaid the balance sheet will show a periodic transfer from the loan asset back to the cash

Ron (AKA Albert)http://www.blogger.com/profile/01272053058545533776noreply@blogger.com2tag:blogger.com,1999:blog-3279083502353914251.post-13055367963604864772013-02-12T23:49:00.001-05:002013-02-12T23:49:54.665-05:00

Electronic copy available at: http://ssrn.com/abstract=1905625Understanding The Modern Monetary SystemCullen O. RocheAugust 5, 2011  "The government is an entity created by the people and for the people. It exists to further the prosperity of the private sector - NOT to benefit at its expense. If this entity is allowed to exist for its own benefit or becomes corrupted by a concentration

Ron (AKA Albert)http://www.blogger.com/profile/01272053058545533776noreply@blogger.com0tag:blogger.com,1999:blog-3279083502353914251.post-51321646470570226102013-02-08T14:32:00.000-05:002013-02-08T14:32:37.976-05:00

We really have to arrange a way for you to visit "in world". We hear you and Jay through a connection to Blog Talk Radio. Although we can use an inworld voice system we rarely do, preferring to type into chat. This allows use to "talk" and ask questions without actually interrupting your discussion. As to the venue: Here is view from the rear of the site. As you can see it reproduces a Roman

Ron (AKA Albert)http://www.blogger.com/profile/01272053058545533776noreply@blogger.com0tag:blogger.com,1999:blog-3279083502353914251.post-26515266390163968422013-02-06T15:17:00.000-05:002013-02-06T15:17:47.336-05:00

Hmmmm, the national debt and how it might effect our progeny. The US contracts to have a highway built and pays $20,000 for the work. The builder does the job for $10,000 and then spends $10,000 for a new Chinese car. (No comments on the profit and then the car decision; I just needed some numbers.) The Chinese dealer deposits the $10,000 in her checking account and is faced with a decision,

Ron (AKA Albert)http://www.blogger.com/profile/01272053058545533776noreply@blogger.com0tag:blogger.com,1999:blog-3279083502353914251.post-16450475096418358652013-02-05T21:33:00.001-05:002013-02-05T21:33:49.255-05:00

Conrad Neil ‏@Radman622 (And any others. :=))   ) I have never tried to list URLs like this before. I hope I haven't left you with a copy and paste chore. No attempt has been made to put these in any particular order. I think it is vital that we, as in We The People, gain a general knowledge of how our financial system actually works. If this theory does, in fact, model our system,

Ron (AKA Albert)http://www.blogger.com/profile/01272053058545533776noreply@blogger.com0tag:blogger.com,1999:blog-3279083502353914251.post-8381974137915563832013-02-03T21:07:00.000-05:002013-02-03T21:07:38.483-05:00

[Vox ‏@deniseromano[#TeaParty didn't protest about taxes when white POTUS put two illegal wars on a credit card & [blew the Clinton surplus #tcot #GOP #ccotTaking a great leap into space from this Tweet. Please note: This in no way is intended to suport Bush or denigrate Clinton. I suspect that neither realized the implications of what they were doing.First, two (at least) illegal wars. Yes,

Ron (AKA Albert)http://www.blogger.com/profile/01272053058545533776noreply@blogger.com0tag:blogger.com,1999:blog-3279083502353914251.post-82259051658123198942013-01-26T14:36:00.000-05:002013-01-26T14:36:11.595-05:00

Houston, we have a problem. We are “flying” in a financial machine that 99% haven’t the foggiest idea how it works. This really isn‘t  rocket science. (It’s Modern Monetary Theory (MMT) but not all that complicated.)The government can create money. The government can impose taxes. Everyone wants the money to pay off the debt created by the taxes. Once again: The government can create money

Ron (AKA Albert)http://www.blogger.com/profile/01272053058545533776noreply@blogger.com0tag:blogger.com,1999:blog-3279083502353914251.post-1084476372240799592013-01-24T23:13:00.001-05:002013-01-24T23:13:37.203-05:00

Dr. Kelton will be interviewed on Virtually Speaking, Thursday, February 7. I would like the MMT group from SL to consider the things I have talked about and to use the comment section here to post questions for her. (Actually, anyone that has MMT questions is welcome to post too.) When the actual URL of the Internet broadcast is available, I will post it here. Thank you. (Question #1: Is the

Ron (AKA Albert)http://www.blogger.com/profile/01272053058545533776noreply@blogger.com0tag:blogger.com,1999:blog-3279083502353914251.post-77798951129927894242013-01-23T16:30:00.000-05:002013-01-23T16:30:07.225-05:00

Thank you for joining me here. These are notes that I used in the first seminar class of a series on Modern Monetary Theory (MMT). This isn't intended to be a debate about the truthiness of MMT but just a tutorial of the basic idea. And you might wait until all the Legos are in place before debating how well it hangs together. During a recent discussion I was asked why I accept MMT (Modern

Ron (AKA Albert)http://www.blogger.com/profile/01272053058545533776noreply@blogger.com0tag:blogger.com,1999:blog-3279083502353914251.post-3653462186704087032013-01-23T13:01:00.000-05:002013-01-23T13:01:25.509-05:00

Positing a hypothesis that the sale of bonds by a sovereign state, which has a monopoly on the creation of its own currency, does not serve to finance any government functions. It is assumed that all bonds are sold and redeemed only in the sovereign currency, a necessary condition if the sovereign is to retain the monopoly control of its money supply.A moment's reflection might make it clear that

Ron (AKA Albert)http://www.blogger.com/profile/01272053058545533776noreply@blogger.com0tag:blogger.com,1999:blog-3279083502353914251.post-77393062604561061182012-03-15T15:43:00.002-05:002012-03-15T15:47:07.851-05:00

CBS This Morning ‏ @CBSThisMorningPresident's re-election team wants to make sure supporters are "engaged," says top campaign adviser Robert Gibbs http://bit.ly/yLz6aVRetweeted by CBS News Certainly a wise idea but the trouble begins when the attempt is made to engage liberal ideals with what is essentially a Republican (light) president.I for one do not think highly of the expertise shown in our

Ron (AKA Albert)http://www.blogger.com/profile/01272053058545533776noreply@blogger.com0tag:blogger.com,1999:blog-3279083502353914251.post-15121580681886469742012-01-08T20:11:00.001-05:002012-01-08T20:14:13.616-05:00

Positing a hypothesis that the sale of bonds by a sovereign state, which has a monopoly on the creation of its own currency, does not serve to finance any government functions. It is assumed that all bonds are sold and redeemed only in the sovereign currency, a necessary condition if the sovereign is to retain the monopoly control of its money supply.A moment's reflection might make it clear

Ron (AKA Albert)http://www.blogger.com/profile/01272053058545533776noreply@blogger.com1tag:blogger.com,1999:blog-3279083502353914251.post-88175342399125419782011-11-19T04:24:00.000-05:002011-11-19T04:24:35.468-05:00

 I'm spreading the Bat Signal.  Polls show overwhelming support (70%) of the ideas behind the OWS movement.  Inequality in wealth distribution, inequality in justice, inequality in voting rights, and inequality of women's rights.  Just what part of "Equal Rights for All", didn't they understand? The people are waking up, and are showing their courage, dedication, and ongoing

pbtrue1http://www.blogger.com/profile/02139638891694946432noreply@blogger.com1tag:blogger.com,1999:blog-3279083502353914251.post-2663227352240708982011-09-03T14:01:00.003-05:002012-03-18T15:19:17.331-05:00

Cut fuel consumption in the passenger car fleet? Simple. Tax on all cars, regardless of age, as follows: Tax = $100 X (Weight/3000#) ^ 2.A 3,000* car pays $100, 6,000# car pays $400, and a 9,000 # car pays $900.Need a harder press on the brake?Tax on all cars, regardless of age, as follows: Tax = ($100 X (Weight/3000#) ^ 2.5).Now a 3,000 # car pays the same $100. But! the 6,000# car pays just

Ron (AKA Albert)http://www.blogger.com/profile/01272053058545533776noreply@blogger.com0tag:blogger.com,1999:blog-3279083502353914251.post-75368049674731650972011-07-07T21:23:00.003-05:002011-07-07T21:33:00.561-05:00

"Deficits mean future tax increases, pure and simple. Deficit spending should be viewed as a tax on future generations, and politicians who create deficits should be exposed as tax hikers."-- Ron PaulPure and very simple hog-wash. Might taxes go up? Sure. Will it be to finance the deficit? Nope.Taxes may go up to drain excess money out of the economy to avoid inflation but taxes don't finance

Ron (AKA Albert)http://www.blogger.com/profile/01272053058545533776noreply@blogger.com0tag:blogger.com,1999:blog-3279083502353914251.post-57600972639587483042011-07-07T16:19:00.001-05:002011-07-07T16:22:04.198-05:00

Ahh, the poor Democrats and their antiquated ideas.Let's see, oh, that old saw about a 90% marginal rate that suggests that the very rich might be better off actually investing in company expansion to produce more and employ more. How funny.And the silly idea of keeping taxes very low on the working people to improve their quality of life and to encourage an increase in demand for goods and

Ron (AKA Albert)http://www.blogger.com/profile/01272053058545533776noreply@blogger.com0tag:blogger.com,1999:blog-3279083502353914251.post-50780529787398267032011-07-03T11:05:00.001-05:002011-07-03T11:08:25.100-05:00

Our faces are being smothered with the same curtain of misinformation. (Pay no attention to the men behind the curtain.) Continue to believe that we are in dire straits because of our terrible debt and unbalanced budget.The country must face "hard time"; all the while feeding the men behind the curtain huge sums of money.Does the country owe money to bond holders? Yes. Is that debt payable in

Ron (AKA Albert)http://www.blogger.com/profile/01272053058545533776noreply@blogger.com0tag:blogger.com,1999:blog-3279083502353914251.post-90955220550598668162011-06-29T17:56:00.002-05:002011-06-29T18:02:25.397-05:00

Do the residents of Virgina really want such a person representing them?The following is reprint from Salon.com (http://www.salon.com/news/politics/war_room/2011/06/27/eric_cantor_conflict_of_interest). The original, at least in my browser, is dark print on a dark background and I could not read it.With apologizes to Salon:War RoomMonday, Jun 27, 2011 20:25 ETEric Cantor's glaring conflict of

Ron (AKA Albert)http://www.blogger.com/profile/01272053058545533776noreply@blogger.com0tag:blogger.com,1999:blog-3279083502353914251.post-39138236233375559462011-06-17T19:38:00.000-05:002011-06-17T19:38:35.047-05:00

Cookie cutter people living cookie cutter lives raising cookie cutter children with their cookie cutter wives driving cookie cutter SUVs to cookie cutter schools on to cookie cutter jobs with their cookie cutter rules on a cookie cutter schedule for their cookie cutter day while their cookie cutter kids engage in cookie cutter play in their cookie cutter suburbs with their cookie cutter lawns '

pbtrue1http://www.blogger.com/profile/02139638891694946432noreply@blogger.com0tag:blogger.com,1999:blog-3279083502353914251.post-66826217979201846032011-06-12T20:59:00.001-05:002011-06-12T21:00:39.473-05:00

(Prime Directive) The government can't go broke.The country went off the gold standard in 1971!!!! And what is strange is everyone acts as if we are still on that standard. The mind set, certainly in the general population, remains fixed on the idea that a federal budget and home budget work the same way.They do not. In fact many of the concepts that we have for home, corporate, or state budgets

Ron (AKA Albert)http://www.blogger.com/profile/01272053058545533776noreply@blogger.com3