Forum | National Economy

Arian Forrest Nevin on Animated Unemployment Map

Thu, 03 Dec 2009 02:13:22 +0000

It's shocking to watch the change in unemployment in the US over just a two year period. Check this out.

http://cohort11.americanobserv.....final.html

ranthil on Bar to lawyer: You have too many student loans to practice

Sat, 15 Aug 2009 11:31:40 +0000

I think that makes a lot of sense. Every employer should do that. Who needs educated people anyways?

In all seriousness, that's probably the worst reason I've ever heard to deny anyone the right to practice. What is the guy supposed to do? Work at K-Mart bagging groceries to pay off his loans?

ranthil on Recession End--A Year or More?

Sat, 15 Aug 2009 11:30:28 +0000

I think that it will be a very soft recovery, even if the recession ends. Several other economies have posted slight gains recently, but nothing to brag about, and who knows if it will stand afterwards.

Genghis Tron on Potential Costs of Bank Bailout: $80,000/Taxpayer

Mon, 20 Jul 2009 21:48:57 +0000

Mussolini said, "Fascism should more appropriately be called corporatism because it is a merger of state and corporate power." Interesting...

Genghis Tron on Forced to buy health insurance!!!

Mon, 20 Jul 2009 20:59:22 +0000

Yes, herd everyone into 'public option' govt. health care, thereby driving up premiums, and creating more bureaucracy to direct the program, thereby driving up taxes. So, the so-called 'reformed' health care increases spending and decreases the level of care since we no longer have a choice. Obamacare is completely nonsensical and gives us more insight into his incompetency.

Genghis Tron on Potential Costs of Bank Bailout: $80,000/Taxpayer

Mon, 20 Jul 2009 20:44:32 +0000

"The federal government has devoted $4.7 trillion to help the financial sector through its crisis, a level of assistance equal to about one-third of the overall U.S. economy, a watchdog report said Monday.

Under the worst of circumstances, the report said, the government's maximum exposure could total nearly $24 trillion, or $80,000 for every American."

See: http://seattletimes.nwsource.c.....sight.html

On top of that, "[m]any of the banks that got federal aid to support increased lending have instead used some of the money to make investments, repay debts or buy other banks, according to a new report from the special inspector general overseeing the government's financial rescue program."

See: http://seattletimes.nwsource.c.....arp20.html

So... how is it still legal for Banks to require me to pay back student loans?

Genghis Tron on Bar to lawyer: You have too many student loans to practice

Sat, 18 Jul 2009 10:35:13 +0000

By contrast, in New Jersey, a lawyer's possession of cocaine is merely a 3-month suspension, In re McLaughlin, and in some cases just censure, In re Filomeno, meaning the lawyer can continue practicing. Also by contrast, in New York, the same appellate court held in 2008 that an admitted sex offender could not be disbarred, but instead, merely suspended for three years. See In re Lever.

Yet this lawyer, who otherwise appeared in good character with the backing of the bar committee, is denied a license for not paying his loans and for refusing to pay the criminal increase in interest. Outrageous.

nosronfuuk on Forced to buy health insurance!!!

Fri, 17 Jul 2009 02:13:22 +0000

So with people making less money, we will require them to buy in (which they can't afford) or fine them (which they can't afford), seems like a great idea.

Arian Forrest Nevin on Bar to lawyer: You have too many student loans to practice

Wed, 08 Jul 2009 11:26:58 +0000

"In January, the committee of New York lawyers that reviews applications for admission to the bar interviewed Mr. Bowman, studied his history and the debt he had amassed, and called his persistence remarkable. It recommended his approval.

"But a group of five state appellate judges decided this spring that his student loans were too big and his efforts to repay them too meager for him to be a lawyer."

I wonder how he's supposed to pay the debt if he can't work as a lawyer...

http://www.nytimes.com/2009/07.....f=business

RainyDayWoman on Federal Researve to get new powers....

Tue, 07 Jul 2009 17:05:32 +0000

I think I agree more with mrsceptic, I don't think giving private organizations the power to artificially control the economy is a good idea. Actually, I'm not sure giving anyone that power is a good idea in a capitalist nation. The free market should be allowed to fix itself, that is that way it was designed.

RainyDayWoman on California is turning to funny money to solve crisis

Tue, 07 Jul 2009 16:57:20 +0000

I guess this works. I mean... if you don't have money, what else are you going to do? Everyone else is in debt, why not California?

RainyDayWoman on Forced to buy health insurance!!!

Mon, 06 Jul 2009 14:12:17 +0000

Wow, I had heard that Massachusetts did this, but wasn't aware that this was being talked about on a National level. Coming from someone who doesn't have health insurance, I think this is a bad idea. I simply can't afford it, no matter what the cost, period.

RainyDayWoman on Woman Commits Suicide to Avoid Eviction

Mon, 06 Jul 2009 14:06:54 +0000

Ok, this is a sad topic, I will admit, but the fact that the article refers to her posts on Twitter is a little ridiculous... oh wait, it's Fox news, pop culture is somehow relevant to them.

mrsceptic on Federal Researve to get new powers....

Mon, 06 Jul 2009 11:58:24 +0000

Well, I don't exactly agree. My issue is not that the government is trying to expand its powerbase. Quite the opposite. If it were the government that would be exercising these new powers, then I would not be as concerned. My concern is that the fed is NOT a government organization, but rather an organization that was created by the government, but made up of private banking interests. The fed res will always act to support and protect a private money system. Thus, I would argue the government should dismantle the fed and directly assume the responsiblity of the fed res through treasury/commerce department. While I am not exactly sure what the porposed new powers were, I believe it had something to do with monitoring the economy and ensuring that no company or private interest would become "too big to fail" and to predict when the next financial bust cycle will occur (which I understand is an inevitable recurring event given how our current monetary system is set up).

I don't believe that "free market enterprise" and capatalism works in a completely unregulated environment. However, given the proper constraints like we generally have in place, I believe in letting business figure what is in their best interests and act accordingly. The only exception is the financial industry because, as the book National Economy points out, money cannot be the basis of a nation's economic wealth. It is the other side of the economic coin that allows wealth to be evaluated and distributed. Hence, the financial industry should be the most regulated industry of all, and the issuance of new money should be kept within the purvue of the government and not private banking interests as it is now.

So, where does that leave us? Unfortunately not in a good place, because the powers that be: government, finance, and industry do not have a vested interest in fundamentally changing the system. As evidenced by the proposal to give the fed reserve more power, they are only interested in "band aids" that will keep the public mullified.

Arian Forrest Nevin on California is turning to funny money to solve crisis

Sun, 05 Jul 2009 21:14:20 +0000

It would be good if they functioned as money at face value. If they function are money but are discounted (worth less than their face value) everyone who has received them from the state will have suffered a loss.