The Economy is NOT a Bowl of Cherries

Economics is not a bowl of Cherries

The problem is not that there are problems. The problem is expecting otherwise and thinking that having problems is a problem. – Theodore Rubin Too many people suffer disillusion in life because they expect life to be a bowl of cherries. There is much complaining these days about the rancor in politics. Usually those complaining loudest are those who believe they are losing the battle. If only the other side would compromise more to my position, if only they other guys hadn’t done such and such we wouldn’t be in…

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Liz Peek vs. Paul Krugman | Budgeting During A Time Of War

Bombing during the Libya War

Over at a so-called financial writer, Liz Peek, posted an article criticizing Paul Krugman, who criticized Paul Ryan about his budget proposal. Liz Peek, shows her ignorance of the true American financial state of affairs when she writes the following: “government spending, now cruising along above 24 % of GDP – an unprecedented peace-time level “ America is currently we are involved in 3 wars, hardly a peaceful time. Never in the article do I read where she excludes military government spending from  her calculations of government spending.  How…

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Robert Reich | Aftershock – a synopsis

Robert Reich in his book Aftershock describes the deteriorating state of financial affairs for Middle America leading up to the financial meltdown in September 2008. Much like the crash in 1929 that lead to the great depression, much of it was caused by income disparity in the nation. The chasm between rich and middle class was too wide. The narrative starts with income disparity in the 1950’s through the first decade of the 21st century. As more and more wealth is concentrated in fewer and fewer people, consuming has to…

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