Also note that that the world's gdp took one big leap ahead in the early 1980's as the Soviet Union fell, and another 20 years later when China sobered up.
Also note that that the world's gdp took one big leap ahead in the early 1980's as the Soviet Union fell, and another 20 years later when China sobered up.
Can't be stated enough.
Today’s lack of upward mobility out of poverty and the remaining genuine hunger in the world are are due to dysfunctional political arrangements. In the past, those things were due to a genuine scarcity of usable resources.
--and it's OPEN LINE FRIDAY!!! Anyway stock index gains were modest yesterday in mixed trade and today's futures contacts suggest more of the same --except maybe we'll see a bit more profit taking w/ precious metals as their prices move in to a 'new normal'.
OH BOY --today we hear the latest unemployment number!!!
8:30 AM Nonfarm Payrolls
8:30 AM Nonfarm Private Payrolls
8:30 AM Unemployment Rate
8:30 AM Hourly Earnings
8:30 AM Average Workweek
3:00 PM Consumer Credit
Someone please wake me when they're done 'cause I'll be in the back w/ my nose in this stuff:
Donald or Hillary? Either Way, Investors Can Profit - Ken Fisher, Forbes
'Risk Can Happen Fast' In Interconnected World - Doug Kass, RealMoney
June Jobs Count Expected to Bounce Back - John Crudele, New York Post
U.S. Needs More Flexible Labor Markets - Ryan Nunn, RealClearMarkets
Falling Behind the Jones' Fueled the Rise of Trump - Thomas Edsall, NYT
Trump Is Wrecking the GOP's Free Trade Agenda - Shikha Dalmia, Reason
Einstein Never Knew He'd Help Shell Find Oil - Eric Roston, Bloomberg
Can Fed Increase Credit & Stimulate Booms? - Ben Weingarten, Encounter
Why Don't We Simply Ban The College-Degree Box? - George Leef, Forbes
We're All Keynesians Now Because We Have No Choice - Jeff Snider,RCM
So Obama’s work is not yet done. He must destroy capitalism. He thrives on dissension and inequality. It is just like alleged discrimination and affirmative action; it will never be solved because there is too much power and control to be derived by perpetually continuing the problem.
Would you learn how to read a graph before you type.
GDP is virtually flat from 1980 to 1985 (the early 1980s), increasing much more slowly than in the preceding 5 years. But, it does start to take off in the 1985-1990 time frame, which is the late 1980s.
The System Is So Corrupted and Rigged: The Coming Financial Crisis Will Be The Biggest & Quickest For The History Books
You can see that in Asia, on the verge of starvation after WWII - now even China and Vietnam are food paradises.
headline:
“Developing Nations” Actually Are Developing That certainly is news.
We the people of the United States, in order to form a more perfect union, establish justice, insure domestic tranquility, provide for the common defense,nee promote the general welfare, and secure the blessings of liberty to ourselves and our posterity, do ordain and establish this Constitution for the United States of America.“Posterity” can mean either “descendants” or those who come after. In the latter, more expansive sense, the foundation of the US as a democratic republic is being vindicated anew in the prosperity of nations which had held themselves back with socialism. Even as we ourselves - often literal descendants of the revolutionaries of Eighteenth Century America - have been sliding back towardsocialismgovernmentism.Thomas Paine’s Common Sense told our predecessors/ancestors what it should tell us as well:
SOME writers have so confounded society with government, as to leave little or no distinction between them; whereas they are not only different, but have different origins. Society is produced by our wants, and government by our wickedness; the former promotes our happiness POSITIVELY by uniting our affections, the latter NEGATIVELY by restraining our vices. The one encourages intercourse, the other creates distinctions. The first is a patron, the last a punisher.Socialists love to use euphemisms - “society” when they mean government,“liberal” or “progressive" when they mean socialist, and so on. That is why I insist that it isn’t “social”ism, it is governmentism. They would of course object to that formulation, because it is so clearly a synonym for tyranny. Which is all too clearly where their nostrums inevitably lead.Society in every state is a blessing, but Government, even in its best state, is but a necessary evil; in its worst state an intolerable one . . .
Elizabeth Warren, and the rest of the
Democrats socialistsgovernmentists who follow her lead, insist that “you didn’t build that . . . someone else made that happen.” And that is true.I, Pencil is an article written in 1958 by Leonard E. Read. The burden of the article is how diffuse are the inputs to make a simple item like a pencil. Of course a particular company - Eberhard Faber, in the example instance - made the pencil. But Mr. Eberhard and Mr. Faber did not simply speak the pencil into existence; the company has to have buildings housing machinery, and workers to operate the machines. But beyond that, the Eberhard Faber workers have to have food, shelter, and normal amenities - including those required by their families.Society works together to make the pencil, and all else. But government properly follows society. And society follows organic leaders such as pastors - and businessmen working to a bottom line. When government assays to lead society (LBJ’s “Great Society” is Exhibit A) rather that merely, under laws freely assented to, attacking the enemies of society’s own natural beneficent tendencies, government becomes an autoimmune disease of society. Beneficent socialism is a paper tiger; real socialism produces, not nirvana, but fascism:And the same is true of the vendors who supply Eberhard Faber with the machinery they require, and all the obvious materials - wood, graphite, rubber, and the ferrule material and the enamel. All those vendors have their own equipment, workers, and supply chain. And in all cases the workers need food, shelter, and normal amenities. So although the pencil certainly does not exist without Eberhard Faber, society works together to make the pencil.
Although our modern socialists' promise of greater freedom is genuine and sincere, in recent years observer after observer has been impressed by the unforeseen consequences of socialism, the extraordinary similarity in many respects of the conditions under 'communism' and 'fascism'. As the writer Peter Drucker expressed it in 1939,'the complete collapse of the belief in the attainability of freedom and equality through Marxism has forced Russia to travel the same road toward a totalitarian society of unfreedom and inequality which Germany has been following. Not that communism and fascism are essentially the same. Fascism is the stage reached after communism has proved an illusion, and it has proved as much an illusion in Russia as in pre-Hitler Germany.’No less significant is the intellectual outlook of the rank and file in the communist and fascist movements in Germany before 1933. The relative ease with which a young communist could be converted into a Nazi or vice versa was well known, best of all to the propagandists of the two parties. The communists and Nazis clashed more frequently with each other than with other parties simply because they competed for the same type of mind and reserved for each other the hatred of the heretic. Their practice showed how closely they are related. To both, the real enemy, the man with whom they had nothing in common, was the liberal of the old type. While to the Nazi the communist and to the communist the Nazi, and to both the socialist, are potential recruits made of the right timber, they both know that there can be no compromise between them and those who really believe in individual freedom.What is promised to us as the Road to Freedom is in fact the Highroad to Servitude. For it is not difficult to see what must be the consequences when democracy embarks upon a course of planning. The goal of the planning will be described by some such vague term as 'the general welfare'. There will be no real agreement as to the ends to be attained, and the effect of the people's agreeing that there must be central planning, without agreeing on the ends, will be rather as if a group of people were to commit themselves to take a journey together without agreeing where they want to go: with the result that they may all have to make a journey which most of them do not want at all. — F A Hayek,
The Road to Serfdom (Reader's Digest Condensed Version - April, 1945)