The economic effects of increasing government interventionism in an economy was perhaps best expressed by M.N. Rothbard in "The Myth of Efficient Government Service," when he states, "[A]ny government operation injects a point of chaos into the economy; and since all markets are interconnected in the economy, every governmental activity disrupts and distorts pricing, the allocation of factors, consumption/investment ratios, etc. Every government enterprise not only lowers the social utilities of the consumers by forcing the allocation of funds to ends other than those desired by the public; it also lowers the utility of everyone (including, perhaps, the utilities of government officials) by distorting the market and spreading calculational chaos. The greater the extent of government ownership, of course, the more pronounced will this impact become."
Rothbard goes on to say, "[G]overnment, however, has no checkrein on itself, i.e., no requirement for meeting a profit-and-loss test of valued service to consumers, to enable it to obtain funds. Private enterprise can get funds only from satisfied, valuing customers and from investors guided by profits and losses. Government can get funds literally at its own whim."
In sum, things can only get worse. |
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Glad to see the reference to treating people like ATMs; this is a simile that has crossed my mind many times but it's the first time I can recall seeing it used by someone else. Even though Michele is talking about us regular people being treated like ATMs, I think that even if we could find a way to apply it just to the Gateses and Buffets of the country, the idea of treating people, even wealthy people, like money machines ("We need money, they've got some, let's just take it") is innately repulsive to most Americans. I think this phrase is something we ought to be using a lot more. |
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Printing money results in inflation unless productivity is increasing at the same time.
None of the money is reaching consumers. It is all being kept by Wall Street and the high muckety mucks. |
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you sound like a moron. This debacle is just in its beginnig stages. The worst will not hit until about 2011. Imagine an economy in a spiraling downfall for the next three years. That is what faces the Dems. Even though this all started in 2007 when the Dems. took control of Congress, they had no idea then and they have no idea now about what to do about the economy.
This is not a GOP problem. The GOP have no responsibility for the outcome. If the outcome by 2011 is good, the Dems get the credit. If the outcome by 2011 is bad, the Dems get the blame. |
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WindowCleaner is a moron. You came close but unlike in the game of horse shoes, you get all the points. BTW, WindowCleaner is a knife that only cuts himself so just ignore him (it?). |
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I think this morning between 800 and 11AM you made a statement about the REPS are to blame for the stock market crash today.
I have notice you havent said anything since the stocks finished higher, OH WHERE OH WHERE
IS MY WINDOW CLEANER
Another WANT-A-BEE-THER, BYE BYE |
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Rahm Emmanuel and Barack Obama........
A Jew and a Muslim.......
How the hell's that gonna work?????? |
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Window Cleaner should go back to cleaning windows. But I wouldn't hire him.
This mess is not going to go away until we get rid of idiots like Pelosi, Ried, and Dodd. Unfortunately, most Americans don't even know they exist. |
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Bailing out, printing money and the government taking over industries, banking, housing is not the way that America works. American's don't have czars. American's don't fear failure. American's don't want the government running their business. If you want that find a communistic and socialist government you'll fit right in.
Tell obama "spit" to get over himself. He's a dirty politican who's being found out!!! Ha Ha. THe annointed one from the left is nothing more than an annointed thug!!!
NUMA
National Unity My A$$ |
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The Dems currently, and always have owned this financial mess.......
And BTW dimbulb........
YOUR TOP RANKED DEMO-RAT SENATOR, Harry Reid, voted AGAINST the auto bailout......
Please explain this, in your infinite knowledge of all things political, of course........
ANXIOUSLY awaiting your "fecal" explanation.....
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Claiming that the GOP has no responsibility may make one comfortable, but it has no basis in fact. Both parties are responsible. The housing market levelled and began sinking in early 2007. The lack of sufficient over-sight at the SEC, Treasury, and the Federal Reserve pertaining to mortgage backed securities, credit default swaps, soaring levels of debt at banks and investment banks, sub-prime lending, and bubble real estate markets fueled by a fed that pumped low interest money into the economy to create a consumer led recovery were all contributing factors. The entire housing bubble transpired in the period of 2002 - 2006. At the Congressional level, attempts to rein in some elements of this, such as F&F, were strangled by both parties. In 2005, when the GOP controlled the house and senate, McCain and 16 senators tried to restrict the actions of Fannie and Freddie, yet 35 GOP Senators refused to support the bill - and so it was never brought to the floor for a vote. The problem for the GOP through-out these years is that conservatives were sidelined within their own party and caucus. The majority of GOP Senators and Congress people joined with the Democrats in ignoring or avoiding their responsibilities. After all, they'd all convinced themselves that the economy was fine - when the reality was that the foundation was rotting. Banks, investment banks, the Federal government, and consumers - all were accumulating massive amounts of debt - and the spending of that debt was the sole reason that unemployment remained low, and the economy appeared - on the surface to be fine.
The system - in it's entirety - took a vacation and borrowed the money to pay for it. Now the bills are coming due. |
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Reid Dodd Franks Polsi are the problem,
the Democrates are the reason why we are in this Finanial meltdown,in the first place,
and Obama is going to spend even more of our taxpayer money,
why not, its other people money anyways,
your so right,
Michele Bachmann,
this will break the backs of the American taxpayers. |
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Reid Dodd Franks Polsi are the problem,
the Democrates are the reason why we are in this Finanial meltdown,in the first place,
and Obama is going to spend even more of our taxpayer money,
why not, its other people money anyways,
your so right,
Michele Bachmann,
this will break the backs of the American taxpayers. |
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Reid Dodd Franks Polsi are the problem,
the Democrates are the reason why we are in this Finanial meltdown,in the first place,
and Obama is going to spend even more of our taxpayer money,
why not, its other people money anyways,
your so right,
Michele Bachmann,
this will break the backs of the American taxpayers. |
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They always been, they always will be. The devil has to have SOMEONE doing his dirty work. |
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Never! I will move to the Bahamas first! |
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When did the decline of the United States start,about the time the Democrats started pushing their, "Liberal-Socialist" agenda. Now they want to have a Constitutional Convention so they can change the law and shove, "child murder", "gay rights", "ban firearms ownership", and all of the other socialist idealist filth down the throats of the American people. Soon, very soon it will come to the point of either give in to this evil or fight like our founding fathers did against the evil of their time. |
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Look, when one looks at the elections in varied states, i.e. Ca., Mich.,Ill, and the East Coast liberal havens plus Wash. state, we see states running deficits up the yin yang. The voters continue to elect liberal Dems in state Legs. as well as Dem CongressReps year after year and then wonder why and how the tax hikes go on, the deficits expand, individual liberties are downtrodden, and the govts. take over from the craddle to the grave. Now many non-productives , all in the Dem Party btw, not the Pub, vote for socialist policies even when they have no idea what that portends. Then the MSM keeps the drumbeat up supporting the liberal Dems and we have what we have with no end in sight. Obama simply took advantage of this ignorance and pushed his socialist pacifist plans with green malarky and Fannie and Freddie failures due to other of his liberal colleagues, and we have the mess we have today. |
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...and it is us. The housing bubble sustained the feux robust economy during the last four years. Then Paulson and Bush started the panic after the financial industry found all of a sudden that it was shuffling paper with inadequate backing. What a government! I guess that historians will eventually be able to point out who made the enormous gains while citizens suffered. |
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With the US Government now owning portions of selected financial institutions would it be a conflict of interest for them to purchase/own government bonds? |
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The usual writers show up to make partisan claims, while ignoring the simple fact that neither party can avoid responsibility for what has transpired. Some Partisan Republicans claim blindly that its all the fault of the Democrats, yet to make that claim, they have to ignore the fact that it is a GOP Administration that has been leading the parade on the bail-outs, and that is now crafting a plan for the Auto Industry. The great irony of the system these days is that having given the keys to the GOP in 2000, they then started giving them back to the Democrats in 2006, precisely because the GOP had acted exactly like the Democrats during that period of power.
And, there is little to suggest that even if McCain had been elected, that he would have been substantially different. He supported the early bailouts, supported the idea of adding home owner mortgages to those bailouts, and believes the US must provide some form of assistance to the Auto Industry.
And so it will. A nation that ran $500 B average deficits from 2000 to 2008, during which time the GOP had the power in Congress and in the Presidency, will simply increase those deficits today.
Fiscal Conservatives are prophets without honor in their own country. The Conservatives within the GOP were sent to the sidelines in 1998, yet everything they warned the GOP leadership about came true. Now, they are still on the sidelines, as the Democrats and a GOP Administration continues down this path they are on.
And it's not over. In fact, it is only beginning. |
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because of the liberal minded fools in this country who will not....can not see the truth.
Until we vote them out, throw them out through impeachment, and march in the streets to get our rights back, they will shove their nefarious, treacherous agenda of complete rule and power over us until until we either rise up with a backbone and a strong voice, or lie down and die under a commie dictatorship like cowardice dogs.
We have a choice now, but we will lose it if we don't use it. Wake up America, and stamp out Liberalism = communism before it's too late. |
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is just around the corner. |
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Some people on this blog state that we are heading toward communism. Communism is the end product of socialism. So, I think that some people may be confusing communism with socialism. Sen. Obama might best be described as a Democratic socialist. The senator certainly isn't advocating communism! |
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Just got done reading "Words that Work," By Dr Frank Luntz. Your words that my dollar is hard earned, and the government must stop using me as an ATM machine to bailout there errors is perfect pitch. |
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Goldman Sachs’s Tax Rate Drops to 1%, or $14 Million (Update1)
By Christine Harper
Dec. 16 (Bloomberg) -- Goldman Sachs Group Inc., which got $10 billion and debt guarantees from the U.S. government in October, expects to pay $14 million in taxes worldwide for 2008 compared with $6 billion in 2007.
The company’s effective income tax rate dropped to 1 percent from 34.1 percent, New York-based Goldman Sachs said today in a statement. The firm reported a $2.3 billion profit for the year after paying $10.9 billion in employee compensation and benefits.
Goldman Sachs, which today reported its first quarterly loss since going public in 1999, lowered its rate with more tax credits as a percentage of earnings and because of “changes in geographic earnings mix,” the company said.
The rate decline looks “a little extreme,” said Robert Willens, president and chief executive officer of tax and accounting advisory firm Robert Willens LLC.
“I was definitely taken aback,” Willens said. “Clearly they have taken steps to ensure that a lot of their income is earned in lower-tax jurisdictions.”
U.S. Representative Lloyd Doggett, a Texas Democrat who serves on the tax-writing House Ways and Means Committee, said steps by Goldman Sachs and other banks shifting income to countries with lower taxes is cause for concern.
“This problem is larger than Goldman Sachs,” Doggett said. “With the right hand out begging for bailout money, the left is hiding it offshore.”
In the first nine months of the fiscal year, Goldman had planned to pay taxes at a 25.1 percent rate, the company said today. A fourth-quarter tax credit of $1.48 billion was 41 percent of the company’s pretax loss in the period, higher than many analysts expected. David Trone, an analyst at Fox-Pitt Kelton Cochran Caronia Waller, expected the fourth-quarter tax credit to be 28 percent |
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Congratulations, the fiscal and social conservatives won 8 years at the helm and here we are on the doorstep of socialism....... Hooray!
8 years of Clinton did not look this bad! |
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Obama was given afree ride by the Media, they even labeled him the Messiah. Given his association with all sorts of shady charactors, some of which are indicted, a little more critical look should have been conducted. Just the fact that Obama is a product of one of the most corrupt political machines in America should have been a red flag. The thing that bothered me most was a statement that he wanted to create a civilian security force as large as the armed forces combined was very disturbing- that harkens back to Julius Caeser, Josef Stalin, and Adolph(Schickelgruber) Hitler just to mention a few. |
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The Democrats have been in charge for the last two years,and look at the mess we are in,
the Democrats are the reason we are in this mess in the first place,
thanks to Reid,Polsi,Franks,Shumor,
and Obama is going to make it worst unless he distance himself from these liberals,
the Democrtas are the problem not the conservatives. |
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