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2009-02-08 – Economic Tidbits

  • Apparently Republican Economic Theory has returned to the Treasury View which is summed up as “Government spending crowds out private spending or investment, and thus has no net impact.” which is sorta weird since it’s a return to the macro-economic theory of the 1920/30s.
  • We dodged a bullet called Bush’s Social Security Privatization which had an implicit assumption that 1) the market only goes up on a 10 year basis and 2) you can trust the risk evaluations of securities. Both of which has been proven false in this current crises.
  • The recent crises is destroying the illusion of increasing wealth/lifestyle afforded by credit. This leaves the stagnation of medium incomes, which demonstrates that trickle-down theory is BS.

Random Links for 2008/01/22

  • Lilly’s Big Day
    I’m left speechless that the republican version of being business friendly is to attempt to uphold a technicality that destroys such a common sense law (capped at $300,000 btw).
  • A Stimulus For Today And Tomorrow, And That’s OK

    the Director of the CBO estimated the multipliers for both "purchases of goods and services by the federal government" and transfers to states for infrastructure spending at 1-2.5, for transfers to persons at 0.8-2.2, and for "temporary, well-targeted tax cuts" at 0.5-1.7.

  • Principles of the American Cargo Cult
    A set of underlying popular media assumptions.
  • Life at Wall Mart
    A wired chief gets a different view of Wall Mart employment. I’d have to say that I think he focuses exclusively on the positive in the assumption you’ve read the negative in a different book.
  • On the Slate Political Gabfest this week, they did a good job explaining the disincentives for republicans to work or vote for any stimulus. However after years of ignoring fiscal responsibility, it’s bizarre to malicious to swing so hard the other way on a stimulus bill in the midst of such a problematic economy. Even worse is to again show that they only have one “solution” to any situation.
  • Airlines Defining Anyone Disruptive as Terrorists
    This was 100% predictable.