Closing Down the Blog

2009/04/30

June 1st I take it off the net. Huxley wins, Orwell loses.


Ronald Reagan

2009/04/15

Reagan Myth one: he lowered taxes. This is not true. He did lower marginal income tax rates a benefit that accrued to those with the highest incomes. Then — ELEVEN TIMES — he raised taxes. He invented a new name for taxes, calling them user fees, and revenue enhancements, after that there was loophole tightening. The net effect was to raise taxes across the board, while narrowing the gap between what the haves and have not’s paid.

What other Reagan myth’s would people like to hear about?


Madoff Was A Piker — America’s Big Banks Are a Far Larger Fraudulent Ponzi Scheme | Corporate Accountability and WorkPlace | AlterNet

2009/04/07

Moyers Journal: Madoff Was A Piker — America's Big Banks Are a Far Larger Fraudulent Ponzi Scheme | Corporate Accountability and WorkPlace | AlterNet.

I have said this for years. To have believed all the hype over the last fifteen years one would have to believe in magic. Most of the wealth in this country as calculated by the dollar value of all notional currency is inherently false. Call it inflation, call it fraud, it is not real. All pension plans derive their ability to pay from current production regardless of notional contributions. We have an 18th century cash drawer mentality for a economy that is mismatched to that era’s ethos. If that fundamental contridiction is not addressed we will revist this again, the burst bubble, and want in a land of plenty.