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For the last 100 years, congress has simply taken more of your income and savings (the 16th admendment grants the federal government to tax all your income) and used the commerce clause to impose greater regulatory control on your liberity. Now we are $16 Trillion in debt, unable to pay all future medic...more
The house has passed an extension of current tax policy and a budget. The Senate has been absent from the game. So, after the election results are counted, the Senate will have to decide what to do.
First, the house will stay in the control of the Republicans. Second, I would be shocked to see the democrats reta...more
I have no need for an ipad. I wonder if we shall see a repeat of the mid 80's when apples clsed system lost markeet share to Wintel. How does the 3D gate (10 years or difficult work) change the tablet space? I would like to use a tablet, but i do too much typing and mouse work to be productive on an ipad.
De-regualtion of predatory lending? Bush tried, in 2003, 2004, 2005 to reform Fannie Mae and Freddie mac. He was saying these institutions could impose systemic risk. we did not reform Frannie and they blew up the worlds banking system> How, buy reducing underwriting requirements as directed by Andrew Cuomo whne he...more
Having the federal governement dictate the rules by which infrastructure is built is only asking for massive croynism, lousy resource allocation, and huge cost overruns. Let Georgia keep its gas revenues. If we need to expand our roads, i think we can figure that out for ourselves. Did you know it took the Army Corp...more
Think this through. You buy a houe and agree to pay $1000 a month for 30 years because you expect to earn $4000 a month. This goes on for 5 or more years. But now you earn $6000 a month. Life is good. Then we have deflation. Your boss walks in and says, sorry, but i must cut your pay in half. Now you make $3000...more
For me, these tow statements stand out:
1. "Monetary policy is largely ineffective in this type of recession, because those whose balance sheets are under water are not interested in increasing their borrowings at any interest rate."
2. In other writings, I've thrown out two ideas: debt restructuring (espec...more
That is silly. US Companies are sitting on $2 trillion in cash eanring 0% interest not $2 trillion in European soveriegn debt. Will you just spend a few minutes reading one annual report.
Second, US companies that have earned profits overseas and who paid taxes on those profits overseas would have to pay taxes ...more
You lost me in the first part of your story. The reason Wisconsin saved money was not cutting teachers pay and benefits. The reason they saved money was because they ended the "extortion" the public sector imposed on the people of Wisconsin. They saved $500 million alone by allowing local school boards to shop for h...more
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