en-us https://www.intensedebate.com/users/712862 Comments by morganwarstler http://wonkette.com/451700/angry-rich-millionaire-wants-to-eliminate-dept-of-education-to-pay-more-to-executives#IDComment185677972 but somehow they are still the boss of you. Tue, 23 Aug 2011 02:48:22 +0000 http://wonkette.com/451700/angry-rich-millionaire-wants-to-eliminate-dept-of-education-to-pay-more-to-executives#IDComment185677972 http://biggovernment.com/mwarstler/2011/08/19/tea-party-economics-distributism/#IDComment184770568 Thanks aaron, please see my note to Fr Austin above, see if that makes sense. Thanks for your thoughts. They are much appreciated. Sat, 20 Aug 2011 01:40:31 +0000 http://biggovernment.com/mwarstler/2011/08/19/tea-party-economics-distributism/#IDComment184770568 http://biggovernment.com/mwarstler/2011/08/19/tea-party-economics-distributism/#IDComment184770279 Fr Austin. Thx! We just need to change the tax law to treat small-medium business (SMB) owners like investors - they invest in themselves. Right now if you have biz throwing profits, the government gives you a incentive for mal-investment: even if you think the SMB has matured and your profits should be used in another venture... The current tax law unfairly pushes you to keep trying to grow the mature one, its the only way you don't get taxed. Why on earth should SMB owners be encouraged to ride their old horses into the ground? That is exactly what the tax law does. Our Tea Party Freshman should fight for us on this. Sat, 20 Aug 2011 01:38:55 +0000 http://biggovernment.com/mwarstler/2011/08/19/tea-party-economics-distributism/#IDComment184770279 http://www.economonitor.com/lrwray/2011/08/16/paul-krugman-still-gets-it-wrong-modern-money-theory/#IDComment184321336 WINNER! See the moment you admit MMT is social movement - I WIN. Why do you think I do it? Consider it performance art that exposes you as having a social agenda based on government power. You just proved it. Don't worry, countless other guys who claim to be economists get sucked in by me to. Economics is not social justice. Sorry. Thu, 18 Aug 2011 16:22:03 +0000 http://www.economonitor.com/lrwray/2011/08/16/paul-krugman-still-gets-it-wrong-modern-money-theory/#IDComment184321336 http://www.economonitor.com/lrwray/2011/08/16/paul-krugman-still-gets-it-wrong-modern-money-theory/#IDComment184093108 this is not tit tat, the reality is the Tea Party has the money and votes. The left has only votes and the oligarchs have only money. In power terms: The Tea Party is the A power. The oligarchs are the B power. The left is the C power. IN ANY GAME, the best strategy for C is to support A and B back and forth. C will never be in charge. The problem is C has been ONLY partnering with B against A, this has been bad strategy for C (look at the results). Get behind A, and let the Tea Party gut the oligarchs. Look, my side can do battle with both C and B and fight to a draw, and you (C) do all the suffering. Stop trying to argue with the guys who own their own stuff, accept that they are winning for a reason, and ask yourself what you have been doing to support the oligarchs. You won't ever get to be in charge, but you don't have to get the shit kicked out of you either. Wed, 17 Aug 2011 23:42:31 +0000 http://www.economonitor.com/lrwray/2011/08/16/paul-krugman-still-gets-it-wrong-modern-money-theory/#IDComment184093108 http://www.economonitor.com/lrwray/2011/08/16/paul-krugman-still-gets-it-wrong-modern-money-theory/#IDComment184086602 Winslow, I gave you FACTS. The earnings or wealth slice of the 90-99% hasn't changed. And even in top 80% is ti close to even. Everything the top 1% have gotten comes from the bottom end. The ISSUE is the progressive / liberal groups that claim represent the hippies have CUT DEALS with the oligarchs. That's why you see Berkshire and Pimco all advocating higher taxes to help your guys. To try and build government bigger your side SOLD OUT. Right now, my side is VETOING that deal. Look, the best the hippies can do is favor tax law changes that hurt GE / Capital Gains and lower tax rates on the Tea Party. And mark my words, when you see Tax Reform pass the average Tea Party SMB owner is going to get a overall tax cut, and the average oligarch is going to pay more. Google Distributism - thats what is happening. WHICH IS GOOD for hippies. America is moving towards a service economy. You hippies want the wealth spread out more evenly over the top 20%, so there are tens of millions more people buying high end goods and services. Don't be a wishful tard. Don't imagine everyone is as helpless as you. Wed, 17 Aug 2011 23:09:43 +0000 http://www.economonitor.com/lrwray/2011/08/16/paul-krugman-still-gets-it-wrong-modern-money-theory/#IDComment184086602 http://www.economonitor.com/lrwray/2011/08/16/paul-krugman-still-gets-it-wrong-modern-money-theory/#IDComment184073335 It doesn't work that way dude. Just think 1776 all over again, except the British have less guns. To truly understand government and money, you people REALLY need to study the fall of the USSR - smart little guys paid big dumb guys to stand around and protect their hard assets. That's the crystallization right there. The moment the little smart guys have secured the assets in some way and stood their ground and meted out just enough to some big guys to get them to keep protecting the gravy train. That's GOVERNMENT. Going forward all decisions will be run through that basic set up. Look in the last 20 years, the folks who earn in the top 90-99% haven't lost a thing. They held their ground just fine. The top 1% gained against the bottom 90%. Now these groups are porous, but somewhere near 40M people easily spend time in that 90-99% group during part of their earning lifetime, even more in the top 80%. So REALLY what we have are Oligarchs who own a good chunk of wealth and no votes. A block of 40M-60M+ upwardly mobile folks with far more to lose than gain. They ALSO own a big chunk of wealth. They own ALL the guns. They own their house, many have start businesses, their kids go to college. And everyone else. MMT makes the mistake of thinking it can win with everyone else. It can't. NONE of you ever really confront this. Note you tell a fantastical story about what might happen... I'm telling a REAL STORY about what is happening right now. Tax rates aren't going down historically because the oligarchs want it that way. They are going down because MY PEOPLE want it that way. Our government is not printing money and taxing at at any level it wishes because MY PEOPLE don't want that. Our Armed Forces LOVE my people. The police LOVE my people. You can't get from where you are now to where you want to be, if you don't get down and kiss the ass of my people. If you want to change the rules, it has to firs benefit MY PEOPLE. Look, you are dirty hippies. You know it, I know it. And all the chatter about money theory can't get around the fact that MONEY and GOVERNMENT are tools established by a hegemonic influence. And Winslow, until you have the hard assets, votes, guns, and money MMT is per pilpul. Wed, 17 Aug 2011 22:05:46 +0000 http://www.economonitor.com/lrwray/2011/08/16/paul-krugman-still-gets-it-wrong-modern-money-theory/#IDComment184073335 http://www.economonitor.com/lrwray/2011/08/16/paul-krugman-still-gets-it-wrong-modern-money-theory/#IDComment184027833 Randy, you are a dirty hippie. I can't believe I had to read through ALL OF THIS to get to the part where you are exposed as worthless: "Wray: We agree that government cannot go bankrupt (in its own noncovertible, floating rate currency). We agree that too much spending will cause inflation. We agree government can lose fiscal credibility—if it spends too much, causing inflation. The solution is to restore credibility by cutting spending and/or raising taxes—to lower aggregate demand. In addition there are other things that can be done to fight inflation—industrial policy (increasing resources where bottlenecks occur), incomes policy (wage and price controls, for example), encouraging imports to relieve constraints, and management of buffer stocks (releasing strategic reserves of oil, etc). I suspect Krugman agrees with all of this." The GOVERNMENT cannot raise taxes. In theory sure, but in practice - my guys Team Tea Party we have systematically made it harder and harder for the government to increase taxes. So MMT is left with advocating cuts BEFORE unemployment falls at all if balancing the budget matters to you. The problem MMT has is that you are a bunch of folks who have no hard assets, and no real power and you think by DESCRIBING the situation, teaching people how money works... This will change WHO HAS the hard assets and the power. It won't. "Democracy" is a idea, not a fact. When we became a Democracy (1913) we did so in name only. The government is not going to print money to help the bottom 8% who don't have jobs, because the government has to ASK PERMISSION from the guys who: 1. own 200M guns. 2. own the hard assets. 3. have money saved up. 4. VOTE every time all the time. To make MMT work, you have to SERVE THEM. And that's not what you really want to do deep down, huh? Wed, 17 Aug 2011 19:24:02 +0000 http://www.economonitor.com/lrwray/2011/08/16/paul-krugman-still-gets-it-wrong-modern-money-theory/#IDComment184027833 http://biggovernment.com/mwarstler/2011/06/15/obama-invites-four-tea-partiers-to-fix-him-over-dinner/#IDComment163041911 "I view Warstler as an agitator/propagandist." Top of the world ma! Top of the world! Thu, 16 Jun 2011 02:33:05 +0000 http://biggovernment.com/mwarstler/2011/06/15/obama-invites-four-tea-partiers-to-fix-him-over-dinner/#IDComment163041911 http://biggovernment.com/mwarstler/2011/01/04/guaranteed-income-the-christian-solution-to-our-economy/#IDComment119758306 Melvin, here I disagree, the point is EVERYONE can work under this program IF someone will offer you $1 per hour to do it. You are in a wheelchair, and someone wants to route telemarketing calls to you - if you want the GI, you take the job. This is only for those PREPARED to work, not for those UNABLE to work. We only guarantee Income to workers. Thu, 6 Jan 2011 02:09:25 +0000 http://biggovernment.com/mwarstler/2011/01/04/guaranteed-income-the-christian-solution-to-our-economy/#IDComment119758306 http://paul.kedrosky.com/archives/2011/01/what_me_add.html#IDComment119519496 Pure noise. The moment the fifth choice becomes: Cut Public Employee pay, pension, and medical to no better than Private Sector - the "tax the rich" option plummets. With the same productivity gains since 1996 as the private sector, we're running a balanced budget since 2000 (more than $400B per year), and we never had the Housing meltdown. Tue, 4 Jan 2011 20:51:46 +0000 http://paul.kedrosky.com/archives/2011/01/what_me_add.html#IDComment119519496 http://biggovernment.com/mwarstler/2011/01/04/guaranteed-income-the-christian-solution-to-our-economy/#IDComment119504361 Ah see, you are getting it... almost. The point of Guaranteed Income is that it lays the groundwork so we can attach ALL aid, to whether a person works day in, day out - regardless of what their time is worth. Again, this is not perfect. But in order to limit all forms of unconditional aid to the ONLY the truly needy, we need to first sift out the ones who can work and the ones who truly cannot. That must be our first question: can you work? And the correct answer to this question is another question: will anyone pay you anything to do something? The truly infirmed, the mentally handicapped, the young... can be cared for sans work, but with this policy in place, we establish a single hurdle - and from there we can condition correctly all other forms of aid. Tue, 4 Jan 2011 18:51:22 +0000 http://biggovernment.com/mwarstler/2011/01/04/guaranteed-income-the-christian-solution-to-our-economy/#IDComment119504361 http://biggovernment.com/publius/2010/11/05/pelosi-i-am-running-for-dem-leader/#IDComment108030947 GOOOOOOOOOOOOOOOOOOOO! Nancy! Fri, 5 Nov 2010 17:46:09 +0000 http://biggovernment.com/publius/2010/11/05/pelosi-i-am-running-for-dem-leader/#IDComment108030947 http://biggovernment.com/mwarstler/2010/10/19/foreclosure-fraud-can-save-us-economy/#IDComment105273671 Another way to do it is to look at the sale price of your home in the mid-90's. If you aren't comfortable there, SELL. Thu, 21 Oct 2010 17:04:00 +0000 http://biggovernment.com/mwarstler/2010/10/19/foreclosure-fraud-can-save-us-economy/#IDComment105273671 http://biggovernment.com/mwarstler/2010/10/19/foreclosure-fraud-can-save-us-economy/#IDComment105272820 I TOTALLY get what you are saying... let me explain myself... with the foreclosed on forgiven and back out int he system, the FHA can no longer justify 3%. Add to that the TBFT banks are insolvent. The FDIC has taken your deposit and moved it to the local bank of your choice. The local banks are now ONLY loaning 20% down. Do the foreclosed on have that laying around? No. By and large they are out of the market for a bit anyway. It is counter-intuitive, but the supply needs to flood the market, the prices need to go down, and the local banks need to be the ones stepping in... this gets us there. Thu, 21 Oct 2010 16:57:10 +0000 http://biggovernment.com/mwarstler/2010/10/19/foreclosure-fraud-can-save-us-economy/#IDComment105272820 http://biggovernment.com/mwarstler/2010/10/19/foreclosure-fraud-can-save-us-economy/#IDComment105025613 If it weren't for TARP, I'd be right there with you. They should have been driven into bankruptcy and ALL the MBS underlying assets should have flooded the market.... since I can't have that - I'm wiling to forgive the underwater crowd, so I can see the TBTF banks driven into the dirt once and for all... and home prices can fall to where they should have been sans Tarp. Wed, 20 Oct 2010 16:35:31 +0000 http://biggovernment.com/mwarstler/2010/10/19/foreclosure-fraud-can-save-us-economy/#IDComment105025613 http://biggovernment.com/mwarstler/2010/10/19/foreclosure-fraud-can-save-us-economy/#IDComment105025272 The tradeline gets deleted - it is like they never had a mortgage. Wed, 20 Oct 2010 16:33:06 +0000 http://biggovernment.com/mwarstler/2010/10/19/foreclosure-fraud-can-save-us-economy/#IDComment105025272 http://biggovernment.com/mwarstler/2010/10/19/foreclosure-fraud-can-save-us-economy/#IDComment105025112 Then they should be selling said house without the price being propped up by TARP. Wed, 20 Oct 2010 16:31:53 +0000 http://biggovernment.com/mwarstler/2010/10/19/foreclosure-fraud-can-save-us-economy/#IDComment105025112 http://biggovernment.com/mwarstler/2010/10/19/foreclosure-fraud-can-save-us-economy/#IDComment105025018 and we can... as soon as we glut the supply market the way it should have been before TARP. Trust the demand side... cash is on the sidelines, waiting for the price to FINALLY be right. Wed, 20 Oct 2010 16:31:12 +0000 http://biggovernment.com/mwarstler/2010/10/19/foreclosure-fraud-can-save-us-economy/#IDComment105025018 http://biggovernment.com/mwarstler/2010/10/19/foreclosure-fraud-can-save-us-economy/#IDComment105024638 I'm fully aware of the title side... I'm only concerned about the promise of DELETION of the trade-line entirely. You can delete anything the CRA is unable to validate... first they simply verify, then you pres that they validate - suddenly they have to inspect paperwork. My point is Republicans can say, "if MERS was/ is the forecloser, and the owner LEFT the house and demanded deletion, CRA is advised to provide it." My point here is to give the foreclosed a do over if they jingle mail on an underwater home. SInce we're close legally, give it a little push / clarification and the TBTF banks go under. Wed, 20 Oct 2010 16:28:17 +0000 http://biggovernment.com/mwarstler/2010/10/19/foreclosure-fraud-can-save-us-economy/#IDComment105024638