26
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27
Jerome Tang Coaches Kansas State Basketball / Awww.... this kid is so cute!
« on: October 20, 2010, 10:05:16 PM »28
Essentially Flyertalk / Laugh It Up, Fuzzball
« on: October 19, 2010, 10:14:19 PM »
http://tvshowsondvd.com/n/14572
Quote
A month ago we updated you about Fox's December 21st plans for Family Guy - It's a Trap! on DVD and Blu-ray Disc. This is the third (and by all reports, final) Star Wars parody for the animated series, and so on the same day Fox also plans to release all three of them in what has previously been referred to as "Family Guy - The Star Wars Trilogy". That's been a bit confusing, however, so now the studio has officially changed the name of that compilation to "Family Guy - The Laugh It Up Fuzzball Trilogy". Also available in both the DVD and high-def Blu-ray Disc formats, it will be available on the same street date as It's a Trap!: December 21st.
Taken from: http://tvshowsondvd.com/n/14572#ixzz12rha0cw8
29
The New Joe Montgomery Birther Pit / The Rent Is Too Damn High Party
« on: October 19, 2010, 12:23:25 PM »
This guy is awesome! And the beard rules! Fear this beard, baby!
http://www.orlandosentinel.com/news/nationworld/sns-viral-video-rent-is-too-damn-high,0,358042.htmlstory
http://www.youtube.com/v/x4o-TeMHys0?fs=1&hl=en_US
http://www.orlandosentinel.com/news/nationworld/sns-viral-video-rent-is-too-damn-high,0,358042.htmlstory
http://www.youtube.com/v/x4o-TeMHys0?fs=1&hl=en_US
30
The New Joe Montgomery Birther Pit / Obama's Aunt
« on: October 19, 2010, 10:32:44 AM »
The problem with America today can be seen in the attitude of this woman.
http://www.youtube.com/v/PBzjLnO-e3o?fs=1&hl=en_US
http://www.youtube.com/v/PBzjLnO-e3o?fs=1&hl=en_US
31
The New Joe Montgomery Birther Pit / Don't forget to call those Obama voters!
« on: October 18, 2010, 12:54:18 PM »32
The New Joe Montgomery Birther Pit / Barney Frank/Sean Bielat
« on: October 18, 2010, 11:44:48 AM »
Frank takes it on the chin...
http://massachusetts-election-2010.com/5711/sean-bielat-crushes-barney-frank-in-debate-on-wgbhs-greater-boston/
Video and summary of the entire debate.
Plus, bonus footage of Barney Frank's boyfriend trying to "get all up in Bielat's face."
http://massachusetts-election-2010.com/5711/sean-bielat-crushes-barney-frank-in-debate-on-wgbhs-greater-boston/
Video and summary of the entire debate.
Plus, bonus footage of Barney Frank's boyfriend trying to "get all up in Bielat's face."
33
The New Joe Montgomery Birther Pit / Absolute best interview you'll see this political season
« on: October 15, 2010, 12:44:08 PM »
This knocks some of the Basil Marceaux interviews down the ladder.
This is SC Dem candidate Alvin Greene, running against Jim DeMint.
http://whfs.cbslocal.com/2010/10/13/strange-alvin-greene-interview-demint-started-the-recession/
http://www.youtube.com/v/_HER2pGdAak&rel=1&fs=1&showsearch=0&showinfo=1&iv_load_policy=1
This is SC Dem candidate Alvin Greene, running against Jim DeMint.
http://whfs.cbslocal.com/2010/10/13/strange-alvin-greene-interview-demint-started-the-recession/
http://www.youtube.com/v/_HER2pGdAak&rel=1&fs=1&showsearch=0&showinfo=1&iv_load_policy=1
34
Kansas State Football / Users
« on: October 14, 2010, 11:19:29 PM »
Jeffy, jmlynch1, j-dub, Gallon Beverage, treysolid, geesiskryst, _33, oneeyedwillie, YoungEMAWney1, ednksu, fallingrock, chuckjames, ksu1420, 06wildcat, jc_jax, SkinnyBenny, Belvis Noland, ArchE_Cat, GoodForAnother, deputy dawg, CrushNasty, Gooch, kcpowercat, sonofdaxjones, caliblue15, dohminator, Benja, BrotherDDay, Poonhound69, Trim, catINdallas, Nuts Kicked, WildCatzPhreak, nicname, Bill Grogans Goat, slimz, Big Sam, gunnar1073, Testy Westy, BostonPancake, Powercat82, unleashthemob, EMAWzified, Lurker, PandaXpanda, pufiZzle, j-vonfeldt, chunkles, WavetheWheat, Houcat, KSU_foo, Beasley30, k-state87, scott8814, ksu1100, maxq, Do Work Son, FP TC etc., O-town Kat, The Minister, ksufan81, HeinBallz and 81 Guests are viewing this board.
35
Essentially Flyertalk / kcnut
« on: October 13, 2010, 10:52:59 PM »
A little late in the day, but...
36
The New Joe Montgomery Birther Pit / Why I'm voting Democrat
« on: October 11, 2010, 10:35:53 AM »
http://www.leftcoastrebel.com/2010/10/why-im-voting-democrat.html
Because I voted Republican for all those years before I died ~ cprater
Because all your freedoms and liberties ARE BELONG TO US ~ crabbycon
Because this country's debt is "a myth" ~ Phil Hare
DYING for the neighbor to redistribute his wife ~ stephenkruiser
Because broadband is a human right ~ conservativela
Because my mother ceased my allowance and told me to get a job. Only the power of Obama can stop her madness ~ spiritofmadison
Because if I don't, the teacher will press a red button and I'll explode ~ exjon
Because I've always wanted to experience the great depression first hand ~ raging_red
Because Barbara Boxer worked so hard for her title, I just can't stand to see her lose it ~ jeffchesnut1
Because every American city can be like Detroit ~ jeromeehudson
I'm too lazy to do my own stealing. ~ iowahawkblog
I'm too lazy to move to Europe. ~ imao_
I want to see where exactly Obama is going with all this. It's even more mystifying than Lost! ~ imao_
Because my racist boss only pays me $23 an hour as an illegal maid ~ msbs05
Because Paul is entitled to Peter's money ~ adamsbaldwin
It's not fair that people with jobs have more money than I do. ~ radishthegreat
Because the Soviet Union would have worked with the right people in charge & we're going to prove it ~johnhawkinsrwn
Who else is compassionate enough to make sure everyone has a chance at poverty? ~djsmuzz
Because global warming is more important than science ~ grivno
Because I'll be called racist if I don't ~ infidelsarecool
Because history is littered with examples of how well socialism has worked ~ alinskydefeater
Because blaming rich people is so much easier than personal responsibility ~ mlmelear
Because I get my news from the Daily Show ~ stix1972
Because paying over 40% of your income to the gov is okay but making a 3% profit is pure evil ~ diggrbiii
Because "at some point I think you've made enough money" ~ jeromeehudson
Because "I don't want my daughters to be punished with a baby" ~ jeromeehudson
Because those who create wealth should be punished for their wrongdoing ~ entropy156
I never did like incandescant light bulbs ~ resisttyranny
Because I'm not here legally ~ thomasgs
Everything wrong in my life is someone else's fault ~ soopertrev
Because I keep blaming Bush for the mess we're in but can't explain what he did to get us here ~ diggrbiii
Because we must never return to the Bush-Cheney nightmare of debt, war, and 7% unemployment ~iowahawkblog
Because somewhere someone is making a profit. Damn it. ~ irishspy
Because it's illegal for me to steal your money myself ~ emile_husson
Why real Democrats are voting for Democrats:
Because I wanna see the RACIST tea party folks suffer ~ mrdaveyd
Because masturbation is awesome ~ disgrasian
Because fascism is just another word for everything left to lose ~ shoq
I Don't thing [sic] My Fellow Americans are Lazy Welfare Bums ~ thenewdeal
Because Tea Partiers can't spell ~ disgrasian
Because the Other 98% of Us need Representation too ~ thenewdeal
Republicans would rather see America fail than Barack Obama be successful. Put Country first. ~ jskcknit
Because I haven't given up on Barack and I never thought he could walk on water ~ uncommonrecords
Fear is a Weapon of Mass Destruction ~ thenewdeal
Because hypocritical judgmental self-righteous teabaggers only accept an unwed teenage mom if her last name is Palin ~ luchialuchia
Bush Tax Cuts Cost Twice as Much as Health Care Reform ~ audnumber [Q: Where does the government get the money that it "spends" on tax cuts]
For me, its a desire to keep up the change we fought so hard for in 08 ~ saralang
I think it's what Jesus would do ~ newtwittier
Because THIS level of achievement hasn't occurred for several generations ~ karoli
Because I voted Republican for all those years before I died ~ cprater
Because all your freedoms and liberties ARE BELONG TO US ~ crabbycon
Because this country's debt is "a myth" ~ Phil Hare
DYING for the neighbor to redistribute his wife ~ stephenkruiser
Because broadband is a human right ~ conservativela
Because my mother ceased my allowance and told me to get a job. Only the power of Obama can stop her madness ~ spiritofmadison
Because if I don't, the teacher will press a red button and I'll explode ~ exjon
Because I've always wanted to experience the great depression first hand ~ raging_red
Because Barbara Boxer worked so hard for her title, I just can't stand to see her lose it ~ jeffchesnut1
Because every American city can be like Detroit ~ jeromeehudson
I'm too lazy to do my own stealing. ~ iowahawkblog
I'm too lazy to move to Europe. ~ imao_
I want to see where exactly Obama is going with all this. It's even more mystifying than Lost! ~ imao_
Because my racist boss only pays me $23 an hour as an illegal maid ~ msbs05
Because Paul is entitled to Peter's money ~ adamsbaldwin
It's not fair that people with jobs have more money than I do. ~ radishthegreat
Because the Soviet Union would have worked with the right people in charge & we're going to prove it ~johnhawkinsrwn
Who else is compassionate enough to make sure everyone has a chance at poverty? ~djsmuzz
Because global warming is more important than science ~ grivno
Because I'll be called racist if I don't ~ infidelsarecool
Because history is littered with examples of how well socialism has worked ~ alinskydefeater
Because blaming rich people is so much easier than personal responsibility ~ mlmelear
Because I get my news from the Daily Show ~ stix1972
Because paying over 40% of your income to the gov is okay but making a 3% profit is pure evil ~ diggrbiii
Because "at some point I think you've made enough money" ~ jeromeehudson
Because "I don't want my daughters to be punished with a baby" ~ jeromeehudson
Because those who create wealth should be punished for their wrongdoing ~ entropy156
I never did like incandescant light bulbs ~ resisttyranny
Because I'm not here legally ~ thomasgs
Everything wrong in my life is someone else's fault ~ soopertrev
Because I keep blaming Bush for the mess we're in but can't explain what he did to get us here ~ diggrbiii
Because we must never return to the Bush-Cheney nightmare of debt, war, and 7% unemployment ~iowahawkblog
Because somewhere someone is making a profit. Damn it. ~ irishspy
Because it's illegal for me to steal your money myself ~ emile_husson
Why real Democrats are voting for Democrats:
Because I wanna see the RACIST tea party folks suffer ~ mrdaveyd
Because masturbation is awesome ~ disgrasian
Because fascism is just another word for everything left to lose ~ shoq
I Don't thing [sic] My Fellow Americans are Lazy Welfare Bums ~ thenewdeal
Because Tea Partiers can't spell ~ disgrasian
Because the Other 98% of Us need Representation too ~ thenewdeal
Republicans would rather see America fail than Barack Obama be successful. Put Country first. ~ jskcknit
Because I haven't given up on Barack and I never thought he could walk on water ~ uncommonrecords
Fear is a Weapon of Mass Destruction ~ thenewdeal
Because hypocritical judgmental self-righteous teabaggers only accept an unwed teenage mom if her last name is Palin ~ luchialuchia
Bush Tax Cuts Cost Twice as Much as Health Care Reform ~ audnumber [Q: Where does the government get the money that it "spends" on tax cuts]
For me, its a desire to keep up the change we fought so hard for in 08 ~ saralang
I think it's what Jesus would do ~ newtwittier
Because THIS level of achievement hasn't occurred for several generations ~ karoli
37
The New Joe Montgomery Birther Pit / Anyone going to the One Nation Working Together Rally?
« on: September 28, 2010, 09:26:52 PM »
It looks like some of your friends are sponsoring it:
Others:
SEIU
Communist Party USA
Ya Ya Network
American Association of University Professors
Chicago Democratic Socialists of America
Democratic Socialists of America
Ex-Offenders Association of PA
Gay, Lesbian and Straight Education Network
National Council of La Raza
And more:
http://www.onenationworkingtogether.org/partners
Others:
SEIU
Communist Party USA
Ya Ya Network
American Association of University Professors
Chicago Democratic Socialists of America
Democratic Socialists of America
Ex-Offenders Association of PA
Gay, Lesbian and Straight Education Network
National Council of La Raza
And more:
http://www.onenationworkingtogether.org/partners
38
The New Joe Montgomery Birther Pit / Letter to the editor
« on: September 15, 2010, 06:17:20 PM »
Dear Sirs:
During my shift in the Emergency Room last night, I had the pleasure of evaluating a patient whose smile revealed an expensive shiny gold tooth, whose body was adorned with a wide assortment of elaborate and costly tattoos, who wore a very expensive brand of tennis shoes and who chatted on a new cellular telephone equipped with a popular R&B ringtone.
While glancing over her patient chart, I happened to notice that her payer status was listed as "Medicaid"! During my examination of her, the patient informed me that she smokes more than one costly pack of cigarettes every day and somehow still has money to buy pretzels and beer.
And, you and our Congress expect me to pay for this woman's health care? I contend that our nation's "health care crisis" is not the result of a shortage of quality hospitals, doctors or nurses. Rather, it is the result of a "crisis of culture", a culture in which it is perfectly acceptable to spend money on luxuries and vices while refusing to take care of one's self or, heaven forbid, purchase health insurance. It is a culture based in the irresponsible credo that "I can do whatever I want to because someone else will always take care of me".
Once you fix this "culture crisis" that rewards irresponsibility and dependency, you'll be amazed at how quickly our nation's health care difficulties will disappear.
Respectfully,
STARNER JONES, MD
From the Clarion Ledger
http://www.snopes.com/politics/soapbox/starner.asp
During my shift in the Emergency Room last night, I had the pleasure of evaluating a patient whose smile revealed an expensive shiny gold tooth, whose body was adorned with a wide assortment of elaborate and costly tattoos, who wore a very expensive brand of tennis shoes and who chatted on a new cellular telephone equipped with a popular R&B ringtone.
While glancing over her patient chart, I happened to notice that her payer status was listed as "Medicaid"! During my examination of her, the patient informed me that she smokes more than one costly pack of cigarettes every day and somehow still has money to buy pretzels and beer.
And, you and our Congress expect me to pay for this woman's health care? I contend that our nation's "health care crisis" is not the result of a shortage of quality hospitals, doctors or nurses. Rather, it is the result of a "crisis of culture", a culture in which it is perfectly acceptable to spend money on luxuries and vices while refusing to take care of one's self or, heaven forbid, purchase health insurance. It is a culture based in the irresponsible credo that "I can do whatever I want to because someone else will always take care of me".
Once you fix this "culture crisis" that rewards irresponsibility and dependency, you'll be amazed at how quickly our nation's health care difficulties will disappear.
Respectfully,
STARNER JONES, MD
From the Clarion Ledger
http://www.snopes.com/politics/soapbox/starner.asp
39
The New Joe Montgomery Birther Pit / The DREAM Act
« on: September 14, 2010, 11:41:05 PM »
More like the Nightmare Act. Amirite??
http://politicalticker.blogs.cnn.com/2010/09/14/reid-adds-controversial-immigration-measure-to-defense-bill/
All the more reason to vote Harry Reid out. Don't let us down, Nevada!
Quote
Washington (CNN) - Senate Majority Leader Harry Reid said Tuesday he will add the DREAM Act, a controversial immigration measure, to a defense policy bill the Senate will take up next week.
The decision means the defense bill, which often passes with bipartisan support, will be home to two major, thorny political issues ? the other being the repeal of the military's "don't ask, don't tell" policy.
Reid called the DREAM Act "really important" and said it should be passed because it provides a path to citizenship for young illegal immigrants who go to college or serve in the military. DREAM is an acronym for Development, Relief and Education of Alien Minors Act.
"I know we can't do comprehensive immigration reform," Reid said at a news conference. "But those Republicans we had in the last Congress have left us."
http://politicalticker.blogs.cnn.com/2010/09/14/reid-adds-controversial-immigration-measure-to-defense-bill/
All the more reason to vote Harry Reid out. Don't let us down, Nevada!
40
Kansas State Football / Anyone taking pics...
« on: September 11, 2010, 04:36:41 PM »
At or on the way to the game today?
41
The New Joe Montgomery Birther Pit / This pretty much sums up the last 6 to 8 years
« on: September 10, 2010, 10:39:55 AM »
42
The New Joe Montgomery Birther Pit / Governor Christie nails it again
« on: September 10, 2010, 10:36:38 AM »43
Essentially Flyertalk / The Walking Dead
« on: September 06, 2010, 02:48:56 PM »
Looks awesome! Love zombies! http://www.amctv.com/originals/The-Walking-Dead/
http://admin.brightcove.com/viewer/us1.24.00.06a/BrightcoveBootloader.swf?purl=http%3A%2F%2Fwww.amctv.com%2Foriginals%2FThe-Walking-Dead%2Fvideo&autoStart=&bgcolor=%23FFFFFF&dynamicStreaming=true&flashID=myExperience&height=546&isUI=true&isVid=true&playerID=86227333001&publisherID=196217268&width=966
http://admin.brightcove.com/viewer/us1.24.00.06a/BrightcoveBootloader.swf?purl=http%3A%2F%2Fwww.amctv.com%2Foriginals%2FThe-Walking-Dead%2Fvideo&autoStart=&bgcolor=%23FFFFFF&dynamicStreaming=true&flashID=myExperience&height=546&isUI=true&isVid=true&playerID=86227333001&publisherID=196217268&width=966
45
The New Joe Montgomery Birther Pit / Republicans Hate Latinos
« on: September 01, 2010, 09:13:07 PM »
http://www.breitbart.tv/obama-labor-dept-shill-praises-hugo-chavez-tells-students-republicans-hate-latinos/
Talking at a public school.
Very nice.
Thanks, Obama. You have some great people surrounding you!
Talking at a public school.
Very nice.
Thanks, Obama. You have some great people surrounding you!
46
The New Joe Montgomery Birther Pit / Standing Up for the Amercan Dream!
« on: August 30, 2010, 09:30:44 AM »
http://www.seiu32bj.org/ne/ITN_1201Budget.asp
Public school workers from Philadelphia and across the state joined Pennsylvania social service workers to urge state electeds not to cut millions in education funds. School aides, bus drivers, mechanics; as well as building engineers, cleaners and maintenance workers rallied alongside public workers from Allentown in front of Chester County government offices and lobbied in Harrisburg to urge No Funding Cuts.
Good job, Philly teachers!
47
The New Joe Montgomery Birther Pit / The butcher, the baker, the candlestick maker.
« on: August 26, 2010, 09:54:31 PM »
Carts and Horses
by Peter Schiff
In a CNBC debate last week, former Labor Secretary Robert Reich presented a set of contradictory beliefs that unfortunately reflect the conventional wisdom of modern economists. In a discussion with Wall Street Journal columnist Stephen Moore, Reich correctly and comprehensively listed the reasons why American consumers could spend so lavishly before the crash of 2008 and why they can no longer keep up the pace. But instead of making the logical conclusion that former levels of spending were unsustainable and that spending should now reflect current conditions, he advocated that government take on additional debt so that tapped out consumers can spend like they used to.
To achieve this, Reich called for lowering taxes on working Americans and raising taxes on the rich. He argued that middle-income Americans are more likely to spend additional dollars while the rich are more likely to save and invest. As a “demand-side” economist, Reich made clear that spending is superior to savings and investing as a catalyst for growth.
To put it simply: Reich believes that the cart pushes the horse. In his worldview, businesses produce goods and services simply because consumers spend. Therefore, anything that increases spending fuels growth. Unfortunately, he fails to see what should be strikingly obvious: capital formation must precede production, which then allows for consumption.
In a complex society like ours, those relationships are hard to see. However, if we break it down to a simpler level, it becomes more obvious (as I try to accomplish in my new book: How an Economy Grows and Why it Crashes). For example, let’s take a look at a simple barter-based economy consisting of only three people: a butcher, a baker, and a candlestick maker.
If the candlestick maker wants cake, he can’t simply demand that the baker hand it over. The cake needs to be produced, and the baker has to expend labor and material to produce it. Unless the candlestick maker offers the baker something of value in exchange, the cakes won’t get baked. The ability of the candlestick maker to demand cake from the baker is a function of his ability to supply candles to trade. Without production, consumption can’t occur.
What if the candlestick maker gets sick and produces no candles? As the baker would be unwilling to give his cakes away, he would likely stop baking cakes for the candlestick maker. Economic activity would naturally contract until the candlestick maker recovers.
But according to Reich, if the candlestick maker doesn’t have anything to trade, the government should step in and give him candles. But where will the government get them? It could take them from the candlestick maker; but if he is not making candles, how will he pay the tax? Even if there were a few candles left to tax, any that the government took would simply transfer demand from the candlestick maker to the government. No new demand is created.
Alternatively, if the butcher is still healthy, the government could tax him, and give his steaks to the candlestick maker to buy cakes. However, this doesn’t create new demand either. It simply transfers demand from the butcher to the candlestick maker.
Some may feel that a barter-based metaphor doesn’t hold water because the ability to expand the money supply and create credit gives an economy far more flexibility. This is a deceptive argument. Although money is more efficient than barter, it doesn’t change the dynamic between production and consumption.
But Reich suggests that printed money can stimulate demand just as effectively as real candlesticks. But what good will the paper offer the baker if there are no candlesticks to buy? All the baker can do is bid up the prices of those goods, like steaks, that continue to be produced. Similarly, if the government simply prints money and gives it to people to spend, no new production occurs. Prices merely rise to reflect the increase in the supply of money relative to the supply of consumer goods.
In a more complex economy, the relationship between production (supply) and spending (demand) still holds. Every consumer either lives off his own productivity or the productivity of someone else. When individuals work, the wages earned result from the productivity of labor. The ability to consume is directly related to the production of goods or services that result from one’s efforts. However, if people waste their labor in unproductive jobs, little real demand is created.
In the Soviet Union, everyone had a job, yet workers had to stand in line for hours for basic necessities. Although everyone worked (for the government), production was too low. This lack of production meant wages delivered relativity little in the way of purchasing power.
Since production cannot be created by government stimulus, neither can demand. To the extent that there are savings, demand can be brought forward by stimulus – but only at the cost of future demand, plus interest. If stimulus could produce demand, then no nation would be poor. Taken to its logical end, Reich’s argument suggests that African poverty would be wiped out if African governments simply printed money more freely. In reality, Africans are not poor because they lack currency to spend; they are poor because their corrupt and inept governments inhibit production by soliciting bribes, denying property rights, abrogating contracts, preventing the accumulation of capital, and nationalizing profits.
Reich is correct about one thing: Americans are indeed broke. But rather than encouraging the country to spend itself deeper into debt, he should call for greater savings so that we have the means to invest in new businesses and new industries. That is the true road back to solvency, but it will only work if we have less government spending, fewer regulations, lower taxes (particularly on those with the highest propensity to save and invest), and higher interest rates.
Unfortunately, Reich and his allies are calling the shots in Washington. The country cannot recover until the only thing politicians stimulate is demand for new economic leadership.
http://www.lewrockwell.com/schiff/schiff109.html
by Peter Schiff
In a CNBC debate last week, former Labor Secretary Robert Reich presented a set of contradictory beliefs that unfortunately reflect the conventional wisdom of modern economists. In a discussion with Wall Street Journal columnist Stephen Moore, Reich correctly and comprehensively listed the reasons why American consumers could spend so lavishly before the crash of 2008 and why they can no longer keep up the pace. But instead of making the logical conclusion that former levels of spending were unsustainable and that spending should now reflect current conditions, he advocated that government take on additional debt so that tapped out consumers can spend like they used to.
To achieve this, Reich called for lowering taxes on working Americans and raising taxes on the rich. He argued that middle-income Americans are more likely to spend additional dollars while the rich are more likely to save and invest. As a “demand-side” economist, Reich made clear that spending is superior to savings and investing as a catalyst for growth.
To put it simply: Reich believes that the cart pushes the horse. In his worldview, businesses produce goods and services simply because consumers spend. Therefore, anything that increases spending fuels growth. Unfortunately, he fails to see what should be strikingly obvious: capital formation must precede production, which then allows for consumption.
In a complex society like ours, those relationships are hard to see. However, if we break it down to a simpler level, it becomes more obvious (as I try to accomplish in my new book: How an Economy Grows and Why it Crashes). For example, let’s take a look at a simple barter-based economy consisting of only three people: a butcher, a baker, and a candlestick maker.
If the candlestick maker wants cake, he can’t simply demand that the baker hand it over. The cake needs to be produced, and the baker has to expend labor and material to produce it. Unless the candlestick maker offers the baker something of value in exchange, the cakes won’t get baked. The ability of the candlestick maker to demand cake from the baker is a function of his ability to supply candles to trade. Without production, consumption can’t occur.
What if the candlestick maker gets sick and produces no candles? As the baker would be unwilling to give his cakes away, he would likely stop baking cakes for the candlestick maker. Economic activity would naturally contract until the candlestick maker recovers.
But according to Reich, if the candlestick maker doesn’t have anything to trade, the government should step in and give him candles. But where will the government get them? It could take them from the candlestick maker; but if he is not making candles, how will he pay the tax? Even if there were a few candles left to tax, any that the government took would simply transfer demand from the candlestick maker to the government. No new demand is created.
Alternatively, if the butcher is still healthy, the government could tax him, and give his steaks to the candlestick maker to buy cakes. However, this doesn’t create new demand either. It simply transfers demand from the butcher to the candlestick maker.
Some may feel that a barter-based metaphor doesn’t hold water because the ability to expand the money supply and create credit gives an economy far more flexibility. This is a deceptive argument. Although money is more efficient than barter, it doesn’t change the dynamic between production and consumption.
But Reich suggests that printed money can stimulate demand just as effectively as real candlesticks. But what good will the paper offer the baker if there are no candlesticks to buy? All the baker can do is bid up the prices of those goods, like steaks, that continue to be produced. Similarly, if the government simply prints money and gives it to people to spend, no new production occurs. Prices merely rise to reflect the increase in the supply of money relative to the supply of consumer goods.
In a more complex economy, the relationship between production (supply) and spending (demand) still holds. Every consumer either lives off his own productivity or the productivity of someone else. When individuals work, the wages earned result from the productivity of labor. The ability to consume is directly related to the production of goods or services that result from one’s efforts. However, if people waste their labor in unproductive jobs, little real demand is created.
In the Soviet Union, everyone had a job, yet workers had to stand in line for hours for basic necessities. Although everyone worked (for the government), production was too low. This lack of production meant wages delivered relativity little in the way of purchasing power.
Since production cannot be created by government stimulus, neither can demand. To the extent that there are savings, demand can be brought forward by stimulus – but only at the cost of future demand, plus interest. If stimulus could produce demand, then no nation would be poor. Taken to its logical end, Reich’s argument suggests that African poverty would be wiped out if African governments simply printed money more freely. In reality, Africans are not poor because they lack currency to spend; they are poor because their corrupt and inept governments inhibit production by soliciting bribes, denying property rights, abrogating contracts, preventing the accumulation of capital, and nationalizing profits.
Reich is correct about one thing: Americans are indeed broke. But rather than encouraging the country to spend itself deeper into debt, he should call for greater savings so that we have the means to invest in new businesses and new industries. That is the true road back to solvency, but it will only work if we have less government spending, fewer regulations, lower taxes (particularly on those with the highest propensity to save and invest), and higher interest rates.
Unfortunately, Reich and his allies are calling the shots in Washington. The country cannot recover until the only thing politicians stimulate is demand for new economic leadership.
http://www.lewrockwell.com/schiff/schiff109.html
48
The New Joe Montgomery Birther Pit / To all you bloggers
« on: August 22, 2010, 06:32:10 PM »
Be glad you don't live in Philly.
http://citypaper.net/articles/2010/08/19/blogging-business-privilege-tax-philadelphia
Quote
For the past three years, Marilyn Bess has operated MS Philly Organic, a small, low-traffic blog that features occasional posts about green living, out of her Manayunk home. Between her blog and infrequent contributions to ehow.com, over the last few years she says she's made about $50. To Bess, her website is a hobby. To the city of Philadelphia, it's a potential moneymaker, and the city wants its cut.
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In May, the city sent Bess a letter demanding that she pay $300, the price of a business privilege license.
"The real kick in the pants is that I don't even have a full-time job, so for the city to tell me to pony up $300 for a business privilege license, pay wage tax, business privilege tax, net profits tax on a handful of money is outrageous," Bess says.
http://citypaper.net/articles/2010/08/19/blogging-business-privilege-tax-philadelphia
49
The New Joe Montgomery Birther Pit / Obamacare to lower costs?
« on: August 22, 2010, 06:26:21 PM »
Oh wait.... the administration isn't even going to spin it this way anymore.
http://www.theweeklystandard.com/blogs/leaked-white-house-memo-advises-democrats-how-spin-obamacare
http://www.theweeklystandard.com/blogs/leaked-white-house-memo-advises-democrats-how-spin-obamacare
Quote
Politico has released a piece that begins as follows: "Key White House allies are dramatically shifting their attempts to defend health care legislation, abandoning claims that it will reduce costs and deficit, and instead stressing a promise to 'improve it.'" This is a truly remarkable sentence. Legislation that the Congressional Budget Office says would cost about $2.5 trillion in its real first decade (2014 to 2023) wouldn't do the one thing that Americans most want out of health-care legislation: cut health care costs. It wouldn't, despite the administration's repeated claims to the contrary, cut deficits. But, on the bright side, it can (allegedly) be improved. That's an amazingly tepid claim to make on behalf of something with Obamacare's price tag.
50
Essentially Flyertalk / Chose your weapon
« on: August 22, 2010, 06:15:18 PM »
You can buy this amazing AK47
http://www.wimp.com/seenlego/
Or you can get a cannon
http://useloos.com/mediaplayer/?itemid=13240
Christmas is coming up, y'know...
http://www.wimp.com/seenlego/
Or you can get a cannon
http://useloos.com/mediaplayer/?itemid=13240
Christmas is coming up, y'know...