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Nobel Prize Comparison

Tue, 14 Oct 2008 01:16:51 GMT

clipped by: Rustee

According to a news report about Paul Krugman’s selection to receive the Nobel Memorial Prize in Economic Sciences:

“This is terrifying,” he said, comparing it to the financial crisis that gripped Asia in the 1990s. “I had never thought that in my lifetime I would see anything that resembles the Great Depression, but this in fact does.”

This statement shows either (1) that Krugman knows nothing about economic conditions during the Great Depression or (2) that he knows nothing about economic conditions at present. An unemployment rate of 20-25 percent is not comparable to an unemployment rate of 6 percent. A decline in real GDP of 30 percent is not comparable to ongoing growth in real GDP. Approximately 10,000 commercial bank failures are not comparable to a handful of such failures recently. Deflation of 20-25 percent is not comparable to the inflation we presently experience.

Tags: economics

More on the Obama tax "plan"

Mon, 13 Oct 2008 19:17:26 GMT

clipped by: sillysam
clipper's remarks: Because Mr. Obama's tax credits are phased out as incomes rise, they impose a huge "marginal" tax rate increase on low-income workers. The marginal tax rate refers to the rate on the next dollar of income earned. As the nearby chart illustrates, the marginal rate for millions of low- and middle-income workers would spike as they earn more income.

Some families with an income of $40,000 could lose up to 40 cents in vanishing credits for every additional dollar earned from working overtime or taking a new job. As public policy, this is contradictory. The tax credits are sold in the name of "making work pay," but in practice they can be a disincentive to working harder, especially if you're a lower-income couple getting raises of $1,000 or $2,000 year. One mystery -- among many -- of the McCain campaign is why it has allowed Mr. Obama's 95% illusion to go unanswered.

Clip Source: online.wsj.com

The total annual expenditures on refundable "tax credits" would rise over the next 10 years by $647 billion to $1.054 trillion, according to the Tax Policy Center. This means that the tax-credit welfare state would soon cost four times actual cash welfare. By redefining such income payments as "tax credits," the Obama campaign also redefines them away as a tax share of GDP. Presto, the federal tax burden looks much smaller than it really is.

The political left defends "refundability" on grounds that these payments help to offset the payroll tax. And that was at least plausible when the only major refundable credit was the earned-income tax credit. Taken together, however, these tax credit payments would exceed payroll levies for most low-income workers.

Obama & Taxes

Mon, 13 Oct 2008 16:02:13 GMT

clipped by: keith0718

Clip Source: online.wsj.com

One of Barack Obama's most potent campaign claims is that he'll cut taxes for no less than 95% of "working families." He's even promising to cut taxes enough that the government's tax share of GDP will be no more than 18.2% -- which is lower than it is today.

t's a clever pitch, because it lets him pose as a middle-class tax cutter while disguising that he's also proposing one of the largest tax increases ever on the other 5%. But how does he conjure this miracle, especially since more than a third of all Americans already pay no income taxes at all? There are several sleights of hand, but the most creative is to redefine the meaning of "tax cut."

crazy 08

Sun, 12 Oct 2008 14:22:20 GMT

clipped by: doodleicious
clipper's remarks: this whole article is pretty good......things that make ya go hmmmm

Clip Source: www.smirkingchimp.com

Crazy '08

Iceland goes bankrupt. Iceland is not Zimbabwe. I don't mean that to be taken racially. Iceland is about as steady a ship as a nation can get. It has had a representative government for over a thousand years, with a break of about 50 years in the early 19th Century when the Danes took over. The Althing, Iceland's legislative body, was re-established in 1845 and the Icelanders began a laborious process to become a free nation once again, regaining full independence in 1944. In quality of life issues, it always ranks near the top of nations. It has the 4th best nominal GDP and the 5th best purchasing power of all the countries in the world. It is often a leader in low infant mortality rates, competing with countries like Japan, Sweden and Singapore.

Leave it to a guy with Bush's criminal record, almost all of it involving intoxication, not to know the difference between a hangover and a life threatening case of alcohol poisoning.

Tags: economy

人口日本とEU

Thu, 09 Oct 2008 15:42:32 GMT

clipped by: maquee

Clip Source: www.stat.go.jp

Clip Source: www.share-project.org

Figure 8 Public pension expenditures as percentage of GDP, 2000 and 2040

Source: Economic Policy Committee/ECFIN/655/01-EN final. CH: Eurostat: ESSPROS

Figure 1 Population pyramids in the SHARE countries, 2000

Source: Eurostat: Population by sex and age on 1st January of each year

Figure 2 Population Ageing in the EU, France and Italy, 2000-2050

Source: Eurostat: Population by sex and age on 1st January of each year. Population projections baseline scenario (Eurostat projections 1995, revision 1999)

Another bailout story

Thu, 09 Oct 2008 09:31:22 GMT

clipped by: comy1234
clipper's remarks: Honestly, the world has always been about money and power. If you're not rich, just try to enjoy the ride as we see the end to the world as we know it

Clip Source: www.alternet.org

They're Stealing from You and Me -- Where's the Outrage?

Where were the cops?

Poor Senator Larry Craig got a truckload of moral condemnation for tapping his wingtips in the men's john, but his party proposes to spend 5 percent of the GDP to buy up bad loans made by men who walk away with their fortunes intact while retirees see their 401(k) go pffffffff like a defunct air mattress, and it's business as usual.

John McCain is a lifelong deregulator and believer in letting brokers and bankers do as they please -- remember Lincoln Savings and Loan and his intervention with federal regulators in behalf of his friend Charles Keating, who then went to prison?

McCain now decries greed on Wall Street and suggests a commission be formed to look into the problem. This is like Casanova coming out for chastity.

Confident men took leave of common sense and bet on the idea of perpetual profit in the real estate market and crashed. But it wasn't their money. It was your money they were messing with.

Tags: bailout, mccain, economy, accountability

Miserable???? They got your number....

Thu, 09 Oct 2008 00:05:29 GMT

clipped by: mooner-one

Clip Source: en.wikipedia.org

Misery index (economics)

The misery index is an economic indicator, created by economist Arthur Okun, and found by adding the unemployment rate to the inflation rate. It is assumed that both a higher rate of unemployment and a worsening of inflation both create economic and social costs for a country.^[1] It is often incorrectly attributed to Chicago economist Robert Barro in the 1970s, due to the Barro Misery Index that additionally includes GDP and the bank rate.^[2]

During the Presidential campaign of 1976, Democratic candidate, Jimmy Carter, made frequent references to the Misery Index, which by the summer of 1976 was at 13.57%. Carter stated that no man responsible for giving a country a misery index that high, had a right to even ask to be President. Carter won the 1976 election. However, by 1980, when President Carter was running for re-election against Ronald Reagan, the Misery Index had reached an all-time high of 21.98%. Carter lost the election to Reagan.

Bush sets 50-year record

Wed, 08 Oct 2008 16:03:55 GMT

clipped by: spirithiker
clipper's remarks: Need more proof that republican economic policies are not working for the American taxpayer?

Clip Source: zfacts.com

Media Missed the Point. This is the 2nd Financial Crisis/Bailout.

McCain admitted guilt and returned some money—that makes up for petty corruption. But the point is policy not corruption.

The 1989 S&L crisis warned of the danger of banking deregulation. McCain missed the warnings and stuck by his de-regulation advisor, Phil Gramm

McCain says that in September he finally got it—bankers need to be regulated.

The gross national debt compared to GDP (how rich we are) reached its lowest level since 1931 as Reagan took office. It skyrocketed for 12 years through Bush I. Clinton reversed it at a peak of 67%. Bush II crossed that line on Sept. 22 and hit 69% on Sept 30. That's the highest it's been since 1955 (53 years ago).

Bush did three things to skyrocket the debt from $5.7 trillion to $10 trillion:

1. He lowered taxes on the rich (by far the biggest item).
2. He invaded Iraq instead of winning in Afghan-Pakistan (another $600 B).
3. He loosened controls on Wall Street.

McCain backed all three

Tags: economics

Guangzhou-overview

Tue, 07 Oct 2008 16:54:58 GMT

clipped by: michaeljoelee

Clip Source: www.chinapages.com

980 to 1993, Guangzhou's GDP increased by an average of 13.98% annually, and its financial revenue increased by an average of 16.4 % annually

980, Guangzhou's GDP amounted to 5.8 billion yuan which was 63.8% and 42.9% that of Beijing and Shanghai respectively

1990, Guangzhou's GDP reached 31 .96 billion yuan which was 63.8% and 42.9% that of Beijing and Shanghai respectively

lopment speed was 12.2%

Guangzhou's financial sector is developing fast

ore than 2000 financial organizations

Guangzhou has become the central city in South China, which has greatest financing ability

increased its investment in communication, transportation and telecommunication

enjoying favorable climatic and geographical conditions

Comparison with the great depression

Mon, 06 Oct 2008 06:25:16 GMT

clipped by: RskikR

Clip Source: www.theage.com.au

It is now equivalent to 2.9 years of GDP - and that doesn't include the net debt involved in the $US500 trillion derivatives market. So the debt situation is almost twice as bad.

Atlas of the Real World

Wed, 01 Oct 2008 21:08:51 GMT

clipped by: JohnWaterman

Clipmarks | Gdp Clips

Nobel Prize Comparison

More on the Obama tax "plan"

Obama & Taxes

crazy 08

人口日本とEU

Another bailout story

Miserable???? They got your number....

Bush sets 50-year record

Guangzhou-overview

Comparison with the great depression

Atlas of the Real World

Land area

International immigrants

Tourist destinations

Net incoming tourism

Aircraft travel

Rail travel

Mopeds and motorcycles

Wealth in the year 1

Wealth in the year 1900

Projected wealth in the year 2015

Housing prices

HIV prevalence

Alcohol consumption

Nuclear weapons

Armed forces at war 1945-2004

War deaths 1945-2002

Increase in emissions of carbon dioxide

Decrease in emissions of carbon dioxide

Why the Wall St bailout is a bad idea

McCAIN'S BIZARRE ECONOMICS

McCain's bizarre earmark obsession

On Raising Taxes..Oh MY..!

Social welfare programs do not keep a country from prosperity