The Scam Continues

Somewhere under the Casey Anthony trial, Weinergate, the Palin emails and wildfires in AZ, there are new rumblings and seismographic red lines on the U.S. economy.  The DOW fell all throughout last week, joblessness grew, and home foreclosures continued to eat up the American Dream. Congress has been on vacation all week to celebrate the Early June Rosebud-opening Holiday.

On Monday CNN will host the first GOP presidential debate. Wow!  That ought to be something to behold. No doubt it will be a contest to see which candidate can remain standing after each one leans as far to the right as possible. It may be a rerun of the “Gary Bowers falls off of the stage” incident of years past. No doubt few Americans will waste their time watching the right-tilt acrobatics. No doubt, nothing of real substance will be debated. Like the economy.  Except for more corporate tax cuts and fewer regulations.

It’s interesting [and way over the heads of most of our citizens] to note that the corporate world has been enjoying the lowest tax rates and fewest regulations ever for the past 10 years. Where are the jobs? Where is the financial security of the citizens? Does anybody out there see that this is all just GOP bullshit once again? Adding to the buffoonery, the tax rate on millionaires and billionaires has been at historic lows for the past 10 years. And where are the jobs?  Where is the financial security of the citizens?

The Grand Ruse has been working quite nicely for 10 straight years. When will someone pull back the curtain and expose the entire lot of charlatans?

Those who get their ‘news’ from Fox are still being bamboozled.  Today I went there to see what the main buzz was all about and found a poll that seemed to be interesting.  The question was:

You Decide

 What should the government do to get the economy moving?


Not surprisingly, here are the current results:

Deregulate businesses 45.3%  (8,082 votes)

Lower corporate taxes 32.56%  (5,809 votes)

Pass another stimulus package 3.85%  (686 votes)

Invest in homegrown fuels 13.77%  (2,457 votes)

Turn Medicare into a voucher system 4.52%  (806 votes)

Total Votes: 17,840
Thoroughly hoodwinked! The scam continues…The People remain an ignorant, easily malleable mass under the control of Corporate America.

35 thoughts on “The Scam Continues

  1. With the markets falling, unemployment, fuel, food and, durable goods prices rising…are you willing to concede that Obama’s plan is failing miserably?

    Unless you’re Spacey the dog, it’s easy to pop into the market or, examine the stock exchange numbers and, currencies to see that bad ideas end in bad results.
    The Chinese stated yesterday the our government has indeed defaulted on it’s debt payments while the Obama administration is claiming otherwise.

    They had also stated that our government’s devaluation of the dollar is a form of theft from our creditors (the chinese) due to Obama lowering the value of their debt holdings on purpose.

    It almost looks as if Obama is the destabilizing factor in our country.

  2. Hey, seppo the clown, Obama is doing exactly the same shit that Bush did. And the people controlling the purse strings and budget. Well…

    If the US has defaulted it’s because of the bozos YOU SUPPORTnot raising the debt limit.

    And as for insults, dickbrain, guess what? You CAN’T insult me since I have no respect for you or your idiotic, ignorant opinions.

    Don’t pin this shit on Obama.

    1. You’re a riot Spacey…
      “Obama is doing exactly the same shit that Bush did.”

      And unlike your sorry ass, I actually had the ‘nads to say something against Bush when he did it instead of defending the moron who followed in the same mistakes.
      I support cutting the fat you fathead! Just allowing that fool to spend to his heart’s content without cutting the bullshit is just plain assinine.
      No wonder you support it.

      1. My friend with the single digit IQ who work slave labour hours tries to insult me.

        When did I defend Obama?

        Of course, seppo talking about economics and politics is a bit like me talking about brain surgery-he’s way out of his league.,70

        Not to mention he knows nothing about US progressive ideas.

        Sorry, seppo, but people who DO know what they are talking about respect my opinions.

        And laugh at yours.

        1. LoL, I’m witnessing “American progressive ideas” hard at work and, as expected, they’re resulting in exactly what I had predicted.

          So genius, without trying to link to something, tell us in YOUR OWN words exactly how devaluation of the dollar and inflation is so damned good for us all.

          Because every time I pay a higher price for something, I must be missing how lucky I am to be paying more.

          1. OK, seppo if you are as informed and intelligent as you believe yourself to be–what happened the last time that the US eliminated the national debt? Guess what, it happened once in 1837!

            Secondly, you keep talking about “devaluation of the dollar”: who is devaluing the dollar? The current US legislature? They are the ones who control the budget per Article I, Section 8, Clause 1 of the United States Constitution. The President proposes and the Legislature provides.

            It’s the policies you support are causing the dollar to tank, buddy, own up to it.

            Inflation’s effects on an economy are various and can be simultaneously positive and negative. That’s probably a hard concept for you to get your head around. First off, you are too willing to be duped into believing whatever horror story the luntatic right proposes that fits your simplisitic understanding of the world. The problem is that inflation is what creates wealth in the capitalist system (command economies can control prices).

            My question for you–would you prefer deflation? That is far worse than inflation since prices go down between the time the product is made and sold. That means the producers LOSE money.

            The real issue, seppo, is that you have a problem with the captialist system, but are too fucking dim to realise that. You are stroked into feeling so good since you hate “socialism” and “communism” which don’t have the problems that you complain about in the US system.

  3. The Bush tax cuts and his two unfunded wars are the major contributors to the economic mess that we now face. Add to that the loosening [and abandoning] of restrictions on the financial markets as well as the many corporate tax loopholes. Stir and simmer for 10 years and what have you got? A pot of toxins, a ladle for each household in America.

    1. The Bush tax cuts WITHOUT cutting pork spending was the problem muddy. Now look at TODAY, we have the Obama tax cuts, still no spending cuts that amount to anything, the same two wars and now we’re also bombing Pakistan, Libya and, Yemen now too.

      The financial markets need to operate freely and legally in order for commerce to take place. Why you seem to think that a command economy dictated by the government is a good thing is beyond reason since you need only to reference history to see what happens to them.

      If you want to regulate something…try regulating the government’s spending!
      Unrestricted government spending is what has caused this mess.
      Wall street didn’t print dollars…the government did!
      The banks didn’t force themselves to offer bad loans…they were required to!

      That pot of toxins you refer to came right from the whitehouse. And, didn’t you vote to change that?
      Well, your guy in the big boy chair has taken EVERY bad Bush policy you used to rave about and, has made them even worse…in just 2 years!

      With ever ebb, there is a flow.
      Increase deficit spending, increase the number of dollars in circulation and you end up with cheaper dollars and higher prices for everthing you purchase.

      There is no magic formula as Spacey believes that overspending, over printing will somehow result in a stronger dollar and stronger economy. It doesent work that way in a reality based world. Just look around you at the results.
      And those results you’re seeing today is just the beginning. The economy is still playing catch-up.

      1. Pork spending such as disaster relief? Or a couple of wars?

        As I said, listening to seppo talk about economics and politics is a serious laugh.

        You don’t know what you are talking about seppo.

        1. Yeah Spacey, those things are the only pork we can cut. It’s impossible to find wastefull government spending anywhere else.
          You are truly a genius.

          1. Seppo shows that he doesn’t understand English and probably shouldn’tr engaes in argumentation with people who know far more than he does..

            “Such as” implies that they are examples, but not an exhaustive list.

            Yes, Seppo, I AM a genius and you are truly a dumbfuck.

  4. One of the real problems is the home mortgages, Fannie May and Freddie Mac. Thanks to the former Senator from TX, Barney Frank, and President Clinton who destroyed the Glass-Steagle Act. The government, Democrat and Republican, asked for the disaster that we have.It’s a dual responsibility, government and investment firms, and they are still in bed together.

    1. You are partly correct, uptheflag, about the destruction of the Glass-Steagle Act, but that was driven entirely by conservatives, and only signed reluctantly by President Clinton. The government that asked for what we have now has been primarily Republican (and some johnny come lately tea partiers even further right).

      I suggest you review the legislative history further.

      Deregulation and the other proposals other than stimulus would benefit us not at all. Perhaps while re-reading about the ending of Glass Steagle, you should also check up on deregulation and, oh, say the Pecorra Commission.

      Deregulation has been consistently a disaster for this country. Other countries WITH far greater regulation do just fine economically – Germany comes to mind as an excellent example, of regulation, strong government spending to assist the economy, and far stronger unions — and far higher EFFECTIVE corporate taxation.

      Your depth of understanding and cherrypicking of the facts don’t really work for presenting a full or productive discussion. It is superficial, and shallow, and inaccurate to present what you have.

      1. Do you know where Germany gets it’s “strong government spending”?

        By banging the average citizen with a 60% income tax rate!

        And, unless you’re a foreigner, Germans who end up in the welfare system have a limit to not only how long they can ride the system but, also what luxury items they can own while using it.
        In America, you can grow up on welfare and subsized housing, turn 18 and get on it yourself forever.
        How much does it cost to feed and house 1 family for a lifetime?
        And then do the same for their children who graduate into the system?

        The Germans have incentives to produce. Americans don’t anymore.

        Germany also has an illegal alien problem. The difference between our country and theirs is that they actually enforce their laws and, penalize employers who hire illegals.
        14% unemployment in Germany makes every job a priority to fill it with a German citizen.
        Our government turns a blind eye to that crap because there is a strong hispanic voting block that every politician wants in his pocket.
        Germany has no such problem.

        So your idea that the German economy is somehow driven by it’s corperate tax rates is just insane.
        It also might occur to you that BMW and Volkswagen are for some strange reason exporting jobs to America that could be employing Germans.
        Why would that be?
        Lower tax rates perhaps?

  5. “The financial markets need to operate freely.” Sepp, this is an impossibility.
    2007-8 ought to be enough of example to prove that it can’t be so. Check out “Too Big to Fail”.

    1. How about quoting me with the entire statement UTF? Freely and legally means able to operate freely within the law.

      I certainly have never advocated allowing financial institutions to act above the law and cheat people.
      But, handing them all over to the government would do more harm than good.

      Who was it? Milton Friedman who said,
      “If we put the government in charge of the Sahara, there would be a sand shortage within a few years there”.

  6. Direct questions for Seppo the Clown:
    1) What is the budget deficit (I’ve posted the answer here in a previous comment)?
    2) What are the methods for a government to generate revenue?

    Unrestricted government spending is what has caused this mess.

    The ideal solution, seppo, would be to go on an austerity budget and raise taxes to reduce the debt, but I don’t see you proposing that one. But, that is what businesses do when facing debt. But government and business are not the same thing.

    And I think you have more than one come out in favour of cutting taxes.

    So, don’t call me spacey, asshole when you have made it clearly evident that you have shit for brains.

    1. I believe that Sepp simply repeats, without any in-depth critical thinking, what he hears, instead of reading.

      That would suggest to me that perhaps Sepp both lacks any significant education in economics, and that he lacks the emotional IQ to think either rationally OR logically, but rather goes with what feels good to him for his opinion.

      That Emotional IQ is pretty important:

      “The earliest roots of emotional intelligence can be traced to Darwin’s work on the importance of emotional expression for survival and, second, adaptation.[1] In the 1900s, even though traditional definitions of intelligence emphasized cognitive aspects such as memory and problem-solving, several influential researchers in the intelligence field of study had begun to recognize the importance of the non-cognitive aspects. For instance, as early as 1920, E.L. Thorndike used the term social intelligence to describe the skill of understanding and managing other people.[2]

      Similarly, in 1940 David Wechsler described the influence of non-intellective factors on intelligent behavior, and further argued that our models of intelligence would not be complete until we can adequately describe these factors.[1] In 1983, Howard Gardner’s Frames of Mind: The Theory of Multiple Intelligences[3] introduced the idea of multiple intelligences which included both interpersonal intelligence (the capacity to understand the intentions, motivations and desires of other people) and intrapersonal intelligence (the capacity to understand oneself, to appreciate one’s feelings, fears and motivations). In Gardner’s view, traditional types of intelligence, such as IQ, fail to fully explain cognitive ability.[4] Thus, even though the names given to the concept varied, there was a common belief that traditional definitions of intelligence are lacking in ability to fully explain performance outcomes.

      Now of course, wikipedia is a fairly simplistic, introductory coverage of the material; the reality is a bit more complex. Rather like economics.

      It requires some education in the subject matter to fully appreciate the application.

      1. “That would suggest to me that perhaps Sepp both lacks any significant education in economics, and that he lacks the emotional IQ to think either rationally OR logically, but rather goes with what feels good to him for his opinion.”

        So Dog, YOU explain (since you’re an economist) what the result should be when the dollar is devalued and the government is perpetually increasing the limits it sets for itsself!

        Bedazzle me with all the “good” you’re convinced this is doing.
        I’m not seeing it.

        1. Seppo, you are total fuckwit when it comes to economics and that comes from someone who has a first in PPE from Balliol.

          I find your comments to be totally laughable and the fact that you refuse to listen to people who know a whole lot more about a topic than you do is totally pathetic.

    2. Spacey, the government already has an income stream. The problem stems from it ALWAYS trying to spend every penny of income it gets.

      Raise taxes? Sure the income stream will result in more money comming in for the short term but, as usual, the government will simply spend the money doing the same stupid things

      They overspend and instead of curbing the habit, they simply allow themselves to spend more while making promises that they won’t spend more.
      Heroin addicts make the same promises as politicians and garner the same results.

      Since you’re main theme is always to counter anything I post, why not take the Chinese government’s word for it?

      They have stated the same thing I’ve been saying and you’ve been denying.

      As far back as 2009, our creditors have been concerned about reckless spending, devaluation, printing money and the constant raising of the debt limit.

      Do you understand what “Debt limit” means Spacey?

      Limit means the end…no more…you’ve spent all you’re allowed to spend.

      According you moonbats like yourself, “spending limit” means the next goal to reach before increasing to a new limit.

      Reality doesent work like that…not that you’re too familiar with reality…in the real world, overspending, massive debts and the value of the money in your pocket are all directly related.

      Unless you’re still living in Mum’s basement, that $10 in your pocket today won’t buy $10 worth of goods next week when it’s been devalued.

      Take a look at gold prices. It also reflects the effect of devaluation and inflation.

      According to your theory, it’s value shouldn’t move at all regardless of how many dollars are printed or, how low they drop in value.

      1. Seppo, how is the dollar “devalued”? Are you implying that the US government has done the same thing that the British Government did with the pound sterling such as 19 September 1949 the government devalued the pound by 30.5% to $2.80 and The pound was eventually devalued by 14.3% to $2.40 on 18 November 1967.

        Can you consider other factors for why the debt limit may rise?

        Yes, I understand “debt limit”, shithead. But do you understand that the primary deficit is defined as the difference between current government spending and total current revenue from all types of taxes. The total deficit (which is often just called the ‘deficit’) is spending, plus interest payments on the debt, minus tax revenues.

        Are you seriously willing to increase taxes, seppo?

        Or are you just an ignorant dumbfuck who parrots rubbish?

  7. Muddy wrote:
    “The Grand Ruse has been working quite nicely for 10 straight years. When will someone pull back the curtain and expose the entire lot of charlatans?

    Those who get their ‘news’ from Fox are still being bamboozled. ;;;

    Thoroughly hoodwinked! The scam continues…The People remain an ignorant, easily malleable mass under the control of Corporate America.”

    I’ve been asking myself the same, or at least similar question, Muddy – why do people act against their own clear self-interest? How is it that not just individuals, but a significant segment of a segment of the political spectrum continue to be persuaded to act in a way which is harmful to themselves.

    I’m writing something right now over on Penigma about the premise of persuasion and EI (Emotional Intelligence) in an effort to understand and explain it. It isn’t easy to make sense of that which is not logical, rational, or even….sane. But we need to undersand it, because in that understanding lies the information that is necessary to connect to that kind of thinking, and in doing so persuade them to act in their own individual self interest, and in the larger national interest for the majority of people. Perhaps the greatest irony is that under higher taxes, more regulation, and democrats in power, even the wealthy do better – as in more people become wealthy, and the wealthy stay wealthy and gain in wealth.

    Conservative politics and conservative economics are greed driven, and selfish-driven, and short term gain driven. They are neither good, nor healthy, nor even productive to anyone in the long run.

  8. Does the date May 4, 1970 mean anything to you ?

    That was what I thought of, today, when I saw the lead story on the CBS Evening News … government soldiers killing civilians in Syria.

    First, let’s applaud CBS for leading with real news … the follow up stories included events in Libya and Afghanistan. They decided that the breaking news about Democratic leaders suggesting that Anthony Wiener resign was not top news … after all, when historians write the record of important events of 2011 Anthony Wiener was just going to be a footnote to all the other sex-scandals that seem to go on everyday.

    If I may correct you, though … Congress has been on vacation all week is not factual … the Senate was in session holding hearings and votes … while the House was in pro-forma session … for example, on Thursday the House started a little later than Wednesday … at 10:30 EST with a Prayer … and after the Pledge of Allegiance, the House adjourned at 10:33 (Wednesday, they started at 10:00 and adjourned at 10:03.) For the House, this was the fourth week in the past eight that they have not worked.
    To me, the House antics are causing much of the Dow’s drop … investors do not like uncertainty … and with all the talk of defaulting (which they are technically doing since the Government is delaying paying all its bills until the drop dead date when the debt ceiling has to be raised or defaults begin), investors are nervous.

    The FOX poll is interesting … the first question for libertarians would be : Does the Government have any responsibility in creating jobs … but that was not asked … now what does it mean “deregulate business” ? There are many that believe (including some federal commissions) that the financial crisis was caused by deregulation of the financial industry … do FOX voters want another TARP ? Or is this just poor wording … are voters implying that they think that businesses should have to comply with less regulation … let’s ask the people in Germany if they think that food safety regulations are necessary ? How about airline safety … heck, they probably realize that those planes landed with sleeping air traffic controllers, so we don’t need them or the regulations … But I suppose that if the regulations requiring the use of E-Verify and the hiring of illegal immigrants were repealed, then there could be some jobs created.
    Cutting Corporate Taxes … heck, I think that Tim Pawlenty personally voted 5,809 times for that one.
    Invest in homegrown fuels … do they want to continue subsidies for ethanol … better call your Senator because Tom Coburn (R-OK) is pushing for a vote next week to kill the subsidies
    Turn Medicare into a voucher system … better tell Paul Ryan (R-WI-01)that he needs to publicize that a little more and it will surely move to the top of the agenda
    And lastly, another stimulus … is this the FOX way of finding out who all the Democrats trolls are that monitor Fox ?

    Oh, and since you mentioned the AZ wildfires … do you think that President Obama called Eric Cantor to get his permission to offer federal assistance before talking to Arizona Governor Jan Brewer ? Cantor wants to authorize funding for Joplin and all the other natural disasters next fiscal year.

    Lastly, for anyone that does not know the significance of May 4 1970 … Governor Jim Rhodes (R-OH) sent Ohio National Guard troops to Kent State University to quell demonstrations protesting the invasion of Cambodia … the guardsmen used tear gas and moved protesters toward an athletic field … then 28 guardsmen fired between 61 and 67 shots in 13 seconds toward the parking lot where the protesters were at least twenty yards away. In the end, four persons died and nine were wounded. Kent State University was closed for the session that afternoon … protests continued at other universities in Ohio … and America started to reevaluate its opinions of the American military role in southeast Asia.

  9. I remember visiting a ‘significant other’ of mine who was finishing up his PhD in psychology at Kent State, the same person who introduced me to the concepts of emotional intelligence in fact. I remember the site where the Kent State shootings occurred; I believe there is a gymnasium that in part covers the site now.

    So Mac, yup, you can count me in for remembering the events at Kent State 31 years ago last month.

    I don’t think the majority of Americans want to see the post office closed; I’ll venture here that TPaws ideas will place him on the fringe instead of the mini-me to Mitt. I think as people across the nation actually see what TPaw is like, he’ll be side-by-side with Bachmann for being considered kooks.

    Because they are nuts, full blown, Minnesota-grown LOON-atics. Loons, they’re not just our state birds, they’re our state politicians as well. We may only be left with the political variety soon, because the state-bird loons, not the politicians, are dying off after toxic poisoning from their winter in the BP oil spill soiled Gulf. Bachmann and Pawlenty on the other hand love to roll in that big oil money; they thrive on big oil.

  10. I appreciate your comment Dog Gone about regulation, but to say the Graham act was”signed reluctantly by President Clinton” is quite the spin. He knew full well what he was doing and so did the Democratic Senators who voted for the act as well. Clinton sold out one of main reforms of the New Deal. I don’t care if he recluctantly signed it so he could get Republican support in the impeachment hearings or whatever he suggests was why he signed it. The repeal of Glass Steagle permitted the financial meltdown of 2008 and the Great Recession that has followed because it ended the distinction between banking and investments. Now, Obama and the House and Senate Democrats caved to Wall Street during the financial reform hearings and basically left the same problems in place with the worderful leadership of Frank and Dodd. Yeah, Dodd was so “reluctant”, that he filled his pockets with Wall Street lobbyist money, so much so that he had to resign his Senate seat. “The Treason of the Senate” is not new in U.S. history.

  11. Oh dear, Seppo the clown fails to provide the answer for how governments generate revenue, but no surprise there since he doesn’t have anyone telling him the answer.

    1) Taxes
    2) Fees (tolls, licences, fines, etc.)
    3) Sales of assets (government surplus, etc.)

    But government primarily receives its income from TAXES.

    And we all know that seppo the clown doesn’t like taxes.

    And we also know that seppo the clown doesn’t know what part of the budget is the largest contributor to the national debt.

  12. Since seppo the clown is so into the capitalist system, he should have noticed that I didn’t mention the sale of US treasury securities in my list of government income streams. That’s because Treasury bills, Treasury notes, Treasury bonds, and Treasury Inflation Protected Securities (TIPS) are DEBT

    A United States Treasury security is government debt issued by the United States Department of the Treasury through the Bureau of the Public Debt. Treasury securities are the debt financing instruments of the United States Federal government, and they are often referred to simply as Treasuries.

    Seppo the clown in his confused, ignorant manner misses that all these “market corrections” are a by product of the capitalist system.

    Debt is a big part of captialism, which involves investments–Seppo, inverstments aren’t gifts, they are debts where the investor (lender) expects repayment at a premium. That’s one of the causes of inflation!

    In economics, inflation is a rise in the general level of prices of goods and services in an economy over a period of time. When the general price level rises, each unit of currency buys fewer goods and services. Consequently, inflation also reflects an erosion in the purchasing power of money – a loss of real value in the internal medium of exchange and unit of account in the economy. A chief measure of price inflation is the inflation rate, the annualized percentage change in a general price index (normally the Consumer Price Index) over time.

    Seppo the clown, the confused commie.

    If he only had a brain!

  13. Seppo the clown has more than demonstrated that he fits the description of:
    Thoroughly hoodwinked! The scam continues…The People remain an ignorant, easily malleable mass under the control of Corporate America.

    He dislikes inflation and debt which are a big part of the capitalist system he fefends.

    He works long hours despite more than enough studies showing that long work hours have been associated with health and safety risks.

    Deep down, seppo is a socialist or communist but he has been persuaded by the media that these systems work against his interests while duping him to believe that the system he truly expresses disgust with its high level of debt and inflation is the best.

    If seppo were capable of thought he would be amusing, but he is pathetically incapable of reasoned thinking.

    Reading seppo’s comments is like going to the mental home to laugh at the feebleminded.

  14. As usual, Spacey makes attacks in leu of answering a single question presented.

    So tell us wise ass, how does the devaluation of the dollar and the massive debt HELP instead of HARM America?

    Will you answer that question or, will you just post another one of your bipolar ravings that bash me as opposed to just answering the fucking question without the child like crap?

    1. Seppo the dumbfuck is unable to understand complex concepts related in my previous posts. This is because he only has a single digit IQ which relates more to bumperstickers and cute cartoons than complex ideas.

      Thus the question must be answered in incredibly simplistic terms that someone who is dumber than a tree can understand.

      1) The capitalist system runs on debt.
      2) The government is the only body that can and is expected to provide its citizens with certain services.
      3) Taxes are the primary source of revenue for a government
      4) If taxes do not cover expenditure, then there is a deficit
      5) If the government is unwilling to honour its debts, it goes into default
      6) Default is a cause for a currency to devalue.

      Seppo is too much of a moron to realise that the last time that the US elimiated the national debt in 1837, it plunged the country into a depression lasting 10 years.

      Seppo advocates the same “cures” for the economy that led to the 1837 crash.

      Simple enough for you seppo, or do I have to draw a comic book and dumb it down some more to explain it to you?

      Maybe if you had some rudamentary intellectual capability seppo I wouldn’t have to insult you, but you demonstrate that you are a complete and total ignoramous when it comes to history, government, politics, and the economy.

  15. BTW, Seppo, inflation good for the economy, and part of a healthy market.

    When the purchasing power of the dollar decreases with inflation, so does the relative amount of one’s debt. E.g., a home mortgage over time.

    When there is an economic recovery, companies will see an increase in demand and can start raising prices, prices they likely dropped or held low because of decreased demand. Consumers may not like seeing higher prices but it’s a sign that a company is growing stronger and it gives them the confidence to hire more workers.

    Inflation and devalued currency force people to spend. Example, When North Korea devalued it’s currency (and capped conversions). the North Korean government had decided to drastically devalue the nation’s currency. The family’s life savings, about $1,560, had been reduced to about $30. In that situation, people spent their money rahter than save.

    While you may bemoan inflation, some inflation is necessary to the capitalist system.

  16. “By banging the average citizen with a 60% income tax rate!”

    First, it’s not 60%–it’s 50%.

    Second, Sepp wants people to forget that in Germany, one’s healthcare is paid for and that one can attend university (or vocational school) almost tuition-free.

    1. Seppo doesn’t realise that the US provides a pretty poor “bang for the buck” when it comes to services provided by the government in relation to the tax dollars spent.

      Loads of other things here such as increasing tax revenues by increasing the amount of taxpayers. That is attempting full employment rather than the purported 9% official US unemployment rate which I believe to be artificially kept incredibly low.

      Of course, seppo wants to work unhealthy hours by doing the work of two people. Perhaps he should pay the tax of two people, but working a regular 40 hour week wouldn’t provide seppo with a livable income.

      Seppo, think of capitalism as a trip to vegas.

      The Bank usually wins. And chumps like you lose.

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