Entries Tagged 'Government' ↓

Economics Has “Long Been Called “The Dismal Science”.

However, In My Opinion It Should Be Called “The “Magical Thinking Science”

So many calculus formulas and jargon words are mis-used to promote economic policies that seem nuts.

This week I’m using an example of “Wolf Street’s Stories behind Business, Finance & Money” post  about Runaway Inflation for their chock-full-of-data about how Economics really works.

Wolf defines this phrase. Runaway Inflation is when “‘Temporary’ inflation” (or a “spike in inflation” is suddenly called “Runaway Inflation”).

Wolf shows in an easy-to-see Eurostat chart that “Runaway Inflation” in the Eurozone jumped to 9.1% in August 2022, a percentage that in Europe hadn’t been seen since 1997.

Ignoring reality, back in mid-2021 our Fed announced that inflation was just temporary, and the ECB followed suit.

For decades while printing money, both our Central Banks and the Eurozone Countries Central Banks had been getting away with using a policy called “Negative-Interest-Rates”

The Central Banks in Europe and U.S. told their big money-market customers that even though their clients’ accounts were losing money, their customers were safer with them than with other kinds of assets.

Those Central Banks were accually claiming that going and staying below zero was gaining their customers some kind value – the value of peace of mind. Continue reading →

This show on MSNBC TV this month shows clearly how Donald Trump could have won the 2020 election on January Sixth.

1) COURT CASES Trying to get up to Supreme Court, Rudy Giuliani & Sidney Powell spearheaded fifty-seven frivolous cases for court – seven not heard, fifty others (2021)  – FAILED

2) FAKE ELECTORS  Scott Perry, PA Congressman, convinced Mark Meadows, Trump’s Chief of Staff,  to recruit slates of Fake Electors in Swing States (11/28) – FAILED

3) EASTMAN PLAN Student Law clerk to Justice Thomas & Professor, John Eastman urged GOP State legislators ignore the vote, & take over  results (“Legislative Override”) (12/7) – FAILED

4) MILITARY COUP  Peter Navarro, Michael Flynn, and Sidney Powell urged Trump to have military seize State voting machines (12/18) – FAILED

5) GREEN BAY SWEEP GOP gathered & locked out outsiders. Eastmans’s plan. 130 Congressmen & 8 Senators were ready to challenge votes on Jan. 6th – (12/31) – FAILED

6) LEGISLATURE OVERRIDE – Trump & Senator Graham phoned officials in Georgia to find Trump more votes and called on GOP State legislators to take power over votes – (1/2) FAILED

7) DOJ CONSPIRACY – Trump sought to fire Justice Dept. head & hired Jeffrey Clark attorney with no criminal expertise. Clark’s assistant sent letters to Swing States’ GOP to begin Legislative Overrides – (1/3) FAILED

8) THE PENCE PLAN – Eastman designated VP Pence Green Bay Sweep Quarterback. Pence was badgered day and night to slow down the vote and substitute fake electors for the certification of votes (1/6) – FAILED

THE EVENING OF JANUARY SIXTH

When the Secret Service took President Trump back to the White house and he realized his rioters were not going to be able to win their battle with the police, Trump spent his last hours on January Sixth calling Rudy Giuliani and his loyal GOP Congressmen begging them to slow down the vote certification. But that was too late. Why? Donald had a Plan B deadline.

DONALD TRUMP’S PLAN B

By law if any of Donald Trump’s eight coup plans had managed to work to halt the vote certification it could have caused a Constitutional Crisis. In that case Congress would be called upon to vote to finish the certification a different way. Congress would have to vote State by State: each State having only 1 vote. Red states would win that vote over fewer Blue states in U.S. Donald Trump would have become President on January Seventh – SUCCESS

STAVING OFF INFLATION

Inflation has been defined by economists as “too much money chasing too few goods”. If we use John Maynard Keynes variable Wages to offset Inflation we can see that broken supply chains are a really bad problem.

And another variable causing inflation (that was not created in Keynes’ lifetime) could be the the ‘helicopter money’ of the 2020 – 2021’s that is still trickling down in 2022 to some people via government fiat.

But even with Government payments to every American, too many working people have Wages too low to live on.

On the other hand, raising the Minimum Wage is hard on Main Street small business owners.

So I want to suggest another way to fight inflation. Clearly the broken supply chain problem is on the side of too much money and not enough goods. And the Executive Branch needs to tackle these things as much as possible.

But what I’d suggest for workers who have run out of Wages and government checks is that the Executive branch could expand the U.S. government’s Student Loan Forgiveness Program and offer it to blue collar workers as well.

The U.S. Government’s Student Loan Forgiveness Program

Continue reading →