(no subject)
Jan. 25th, 2012 02:11 amhttp://www.alternet.org/newsandviews/article/666369/ron_paul_wasn't_joking_about_letting_uninsured_people_die_--_his_uninsured_staffer_died_of_pneumonia/
Oh yeah.
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http://www.alternet.org/story/153848/the_economic_idiocy_of_economists?page=entire
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http://www.alternet.org/story/153849/occupy_san_francisco_takes_the_fight_to_local_banks_in_ambitious_next_step_for_movement
Oh yeah.
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http://www.alternet.org/story/153848/the_economic_idiocy_of_economists?page=entire
Hello, Mr Holtz-Eakin! Have you ever heard of the US dollar, the world's key reserve currency?
The United States is not going to end up like Greece, any sooner than it will end up like Haiti or Burkina Faso. A country that can pay its foreign public debt in its own currency and runs its own central bank does not end up like Greece.
In fact, even Japan is not going to end up like Greece, and Japan has a gross public debt of about 220% of its GDP, more than twice the size of ours and vastly larger – again, relative to its economy – than that of Greece. And the yen is nowhere near the dollar in its importance as an international reserve currency. But the Japanese government is still borrowing at just 1% interest rates for its ten-year bonds.
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During the discussion, Blinder – who identified himself as a Democrat – expressed his frustration in not being able to convince fellow Democrats to cut social security. Double yuck. The average social security check is about $1,177 a month, and a majority of senior citizens are getting most of their meager income from social security. Why these people insist on creating more poverty among the elderly, especially when the program is solvent for decades to come, is beyond me.
I got to ask the first question for the panel. I called attention to Blinder's presentation of the long-term budget problem as almost completely a problem of the rising price of healthcare. I pointed out that you could take any country with a life expectancy greater than ours – including the other high-income countries – and put their per capita healthcare costs into our budget, and the long-term budget deficit would turn into a surplus.
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http://www.alternet.org/story/153849/occupy_san_francisco_takes_the_fight_to_local_banks_in_ambitious_next_step_for_movement
Back up at 555 California, beyond the big turd-in-a-plaza artwork jokingly called the “banker’s heart,” I came upon an older man in a suit, carrying a sign that said “Give Us Our City Back.” I was intrigued: he was definitely not the usual Occupy protester. But when I asked him who he was, he turned out to be even more unusual than I could have expected. He was Warren Langley, the 69-year-old former head of the Pacific Stock Exchange.
What brought a man with his background out to protest?
“I was in the industry. I worked for an option trading firm that was sold to Goldman Sachs. So I played the game on the other side. But I have two grandkids and two daughters, and I became increasingly concerned that their future wouldn’t offer them the same opportunities that I had as a young man. The income inequities in our society are a huge problem.”
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Langley went on to say that Occupy was sharpening its ideas. “It’s moving to get a more specific message across, from ‘We’re hurting’ to “This is what’s hurting us.’ He said he didn’t see the Occupy movement ever aligning with any political party. “Chuck Schumer does as much damage as John Boehner. In the end, it’s about occupying people’s minds, so people who aren’t down here will see that the system is not fair."