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Author Topic: How to measure economic health...misery of the poor or financial profits?  (Read 1690 times)
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WhiskeyGirl
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« on: May 31, 2009, 10:34:57 PM »

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"The free fall of the economy has been stopped, the collapse of the financial system averted," Soros said, according to Bloomberg News. "National economic stimulus measures are starting to work. Part of the money that had been parked on the sidelines is coming back into financial markets."

That’s a much sunnier view than he had as recently as Feb. 20, when he said at a Columbia University dinner that the world had "witnessed the collapse of the financial system. It was placed on life support, and it's still on life support. There's no sign that we are anywhere near a bottom."

http://latimesblogs.latimes.com/money_co/2009/05/unless-something-has-been-lost-in-the-translation-george-soros-no-longer-is-preparing-for-the-end-times--the-legendary-fina.html

How do common people measure the health of the economy?

Is it the availability of good paying jobs?  The national debt that is enslaving generations of Americans?

Maybe the best thing for Americans would have been the collapse of the bankrupt financial institutions.  There would be no need for all this debt, and healthy institutions could have taken up the slack.

I haven't seen the Obama administration do anything to build some good financial firewalls for America.  The past few administrations destroyed the important safeguards put in place after the first Depression.

Our financial future is being decided by people who thought Freddie/Fannie were sound.  People who chose to ignore the red flags from those institutions for at least a decade.

Barack is pushing for healthcare reform and ignoring the 40-50 million illegal aliens who will be added to the national healthcare tab.  A quick look at California's problems should show what is instore for the nation that has to deal with Medicare, Medicaid, and Social Security bankruptcy.

How much will it cost to insure another 40-50 million people when they get in line for citizenship?  How many this year?  How many next year?

What about the millions that do not have jobs, are underemployed, and are watching the the gluttony and money orgy in Washington on TV as they lose their homes? 

What is the measure of economic health?  Financial profits for super rich individuals?  Or, the misery of the common man?

I do not see the Obama agenda as one of socialization.  I see it as a mission to destroy America.  How often Obama expressed any pride in this country?

I don't see any stimulus for the common man.  Just for rich big banks, rich individuals, and super rich global corporations.  Jobs keep leaving, our debt is rising, and Obama jets to New York for a date.

jmho = just my humble opinions
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All my posts are just my humble opinions.  Please take with a grain of salt.  Smile

It doesn't do any good to hate anyone,
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WhiskeyGirl
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« Reply #1 on: May 31, 2009, 10:44:32 PM »

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U.N. Red And U.S. "Progressives" Plan Socialist World Government

While meaningless United Nations hand-wringing over the North Korean nuclear weapons program garners the headlines, the world body is moving ahead with a global conference to lay the groundwork for world government financed by global taxes. The communist head of the U.N. General Assembly is leading the effort, but he is getting crucial support from "progressive" economists who advise the Obama Administration and the Democratic Party.

The United Nations Conference on the World Financial and Economic Crisis and Its Impact on Development, previously scheduled for June 1-3, will now take place on June 24-26.

U.N. General Assembly President Miguel D'Escoto is the U.N. point man on these "global governance" ...

D'Escoto, the Times said, believes the way out of the global financial crisis "should be lined with all manner of new global institutions, authorities and advisory boards," including the Global Stimulus Fund, the Global Public Goods Authority, the Global Tax Authority, the Global Financial Products Safety Commission, the Global Financial Regulatory Authority, the Global Competition Authority, the Global Council of Financial and Economic Advisers, the Global Economic Coordination Council, and the World Monetary Board.

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The problem is that the Times, in its story, "At U.N., a Sandinista's Plan for Recovery," didn't mention until the 13th paragraph that the official U.N. list of "experts" behind the plan include an American economist, Joseph E. Stiglitz, a Nobel Prize-winning professor from Columbia University who supported and contributed to Obama's presidential campaign and advises Congressional Democrats on economic policy.

Stiglitz, an advocate of nationalizing U.S. banks, is also a member of the Socialist International Commission on Global Financial Issues...
 

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Stiglitz, a former Clinton official and financial contributor to the Democratic Party and its candidates, wrote the book, Making Globalization Work, in which he argues for a variety of global tax schemes that would cost American taxpayers billions of dollars. Last October he met behind closed doors with congressional Democrats, including House Speaker Nancy Pelosi, to devise the economic "stimulus" plan of more federal spending and debt.


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Incredibly, Stiglitz was quoted in a U.N. press release last October as saying that the United Nations, which is notorious for corruption, had to intervene in the financial crisis because it was "the one institution that was inclusive and had political legitimacy..."

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However, other than being too outspoken about the elaborate plans for new global institutions and world government that are being drawn up, it would appear that D'Escoto's goals and those of the Obama Administration correspond nicely. Perhaps that is because they share some of the same economic "experts" and Marxist philosophy.
 

read the rest here -
http://www.postchronicle.com/commentary/article_212234077.shtml

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All my posts are just my humble opinions.  Please take with a grain of salt.  Smile

It doesn't do any good to hate anyone,
they'll end up in your family anyway...
WhiskeyGirl
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« Reply #2 on: May 31, 2009, 10:57:21 PM »

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Housing supply, affordability and squatting

Never make a crisis go to waste' - Rahm Emanuel - White House chief of staff

Social science, by contrast, filters knowledge through vested interests, with the result that we suffer consequences even when they are predictable. Take the world financial crisis, for example. Many respected thinkers - Roubini, Stiglitz, Soros, Buffet, said the collapse which took place in September 2008 was inevitable. And they said why. There was asymmetric information between buyers and sellers of a pyramid of sophisticated but tainted financial instruments. As a result of total world wealth being concentrated in a few financial centres, US$4 trillion will be realised in bank losses, credit has contracted and the world is in recession. Like the experimental laboratory frog, we didn't feel the heat until it was too late - and suffered the consequences.

Somehow, other thinkers, like Frank, didn't see any problem with Fannie/Freddie.  They push forward with deficit spending, more lending, and no meaningful reform.

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But what we did not notice was that the international agencies, one by one, walked away from us, with the official explanation that Jamaica had been classified as 'middle income' and was no longer eligible for development funds for housing. What they meant was that we were squandering our wealth upon consumption, emphasised by chronic Budget deficits and, yes, corruption, denying ourselves our potential for development. Hence 'Structural Adjustment'' followed, with nothing for housing, save and except for the NHT. This is an indigenous institution of which we were all justly proud, as its selection policies were demonstrably impartial, its solutions were delivered in respectable numbers which gave us all, hope, and they were affordable.


Sounds a lot like what is happening in the U.S.

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Let's look at affordability. The lowest paid worker, the sugar worker, could in 1977 (Sugar Industry Housing Limited Archives) afford a completely built two-bedroom unit costing $12,500 on a single wage of $2,500 per annum, utilising a graduated payment mortgage (GPM), which established a wage/mortgage ratio of 1:5. This was achieved with annual interest charges of eight per cent to 10 per cent. The graduation meant that workers paid a constant percentage of income, 25 per cent to 30 per cent, for the life of the mortgage, which was fair to those who received benefits, and fair to those in the queue...

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It now requires eight minimum wages to afford a two-bedroom 700 sq ft house...

I think this is what the U.S. worker has to look forward to.  High inflation and devaluation of the U.S. dollar - the rape of future generations.

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Renowned urban geographer Mike Davis in his book published in 2006, Planet of Slums, paints a grim picture of a world overrun with 'favelas' or otherwise described slums comprising one-third of the world's urban population of three billion out of a total of six billion from Latin America through Africa and South East Asia to China in which there will be apocalyptic, never-ending contests between haves and have-nots and in which the favelas are a natural haven for insurrection against established nation states.

The stimuli for insurrection may vary from religious fundamentalism, narco-terrorism or just plain opportunism if there is a power vacuum. We already have evidence of an incipient threat through the power of gangs rooted in some of our settlements.

Tsunami of people, drugs, and gang violence spilling accross our borders...

I remember a liberal somewhere saying something like - well if the dollar collapses won't it be great that we have all this great spending and building to live off of for years? 

The real loss is opportunity and prosperity.  Will there be a new Bill Gates or Warren Buffet?  Or, is the opportunity lost for generations?

http://www.jamaica-gleaner.com/gleaner/20090531/focus/focus5.html

jmho = just my humble opinions
Logged

All my posts are just my humble opinions.  Please take with a grain of salt.  Smile

It doesn't do any good to hate anyone,
they'll end up in your family anyway...
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