Group items tagged

"Excluding census hiring, jobs increase 224,000; jobless rate rises to 9.9%"

Most Americans, regardless of political party, don't understand how we can ask a senior citizen to pay more for her Medicare before we ask corporate jet owners and oil companies to give up tax breaks that other companies don't get. How can we ask a student to pay more for college before we ask hedge fund managers to stop paying taxes at a lower rate than their secretaries? How can we slash funding for education and clean energy before we ask people like me to give up tax breaks we don't need and didn't ask for?

"Pollin, Robert | Heintz, James | Diomande, M. Ahmed Why U.S. Financial Markets Need a Public Credit Rating Agency Publication Date: 7/10/2009"

Both Republicans and Democrats have been explaining that "There Is No Alternative," we need public policies promoting austerity because government is "out of money." The question seems to be not "do we need austerity?" but "will we be austere sooner or austere later?" Meanwhile, the bipartisan consensus is that the government is definitely out of money. But these assertions are at odds with the common knowledge that the U.S. government literally creates its own money. Unlike the euro, the dollar is a sovereign, fiat currency, unconstrained by exchange rates or treaties. And since Nixon closed the gold window, government can issue dollars without waiting for gold or silver mines to provide any backing for them. So we can't possibly be "out of money," any more than the Bureau of Weights and Measures can be "out of inches."

Agenda: Developments in Financial Markets and the Federal Reserve's Balance Sheet , Term Asset-Backed Securities Loan Facility (TALF), Overall Economy and Consumer Spending, Federal Funds Rate and Unexpected Declines, LIBOR, Broad Stock Price Indices,

*I've been very critical of HCR (1+ / 0-)Obama, and the whole process and what appears that the end result will be.  What would be enough for the democrats opposed to the bill to support it? Personally speaking, I recognize that it's never going to be perfect.  But the sticking point is forcing people to buy a product from a private company without any effective cost control measures.  That's it, anything else I can work with. So for me, I would need either the mandate taken out, strict cost regulation added, or a non-profit pulic option added. What about the rest of you? by Skellen on Tue Mar 09, 2010 at 11:59:13 AM PST[ Reply to This | Recommend ] REPLY by .@avivao: Mandate to buy private insurance? (0 / 0)Exactly. A mandate to buy from private insurers (who're already raising rates in advance of the bill's passage--a way of gaming medical loss ratios, etc.) must be counterbalanced by a substantive public plan (Medicare for All or Medicare for More would be the most expeditious way to go, I suspect). Also, the mandate will surely cause suffering "down the road" unless regulation of insurers is actually enforceable. Still, we must pass this #HCR bill, I think. I'm extremely worried about (1) passing it with a unilateral mandate; (2) not passing it because of a unilateral mandate. How did we get trapped like this? What went wrong? Sure; a lot has gone right. I don't deny it. I'm glad. But we're backed into a corner now on passing this health bill. If we don't pass it, the news is very, very bad. If we do pass it, the news is probably very,very bad (for a different constellation of reasons). I say: #PassTheDamnBill. But I'm very disturbed by the potential consequences of doing so. There are many benefits to this bill; I pray that the liabilities don't outweigh them. We'll see. by avivagabriel on Wed Mar 10, 2010 at 11:56:59 AM PST[ Parent | Reply to This ]

Employers add jobs (224,000); but jobless rate rises (to 9.9%)

"The true inflation rate in America? It's certainly at least 6 or 7 percent, the US government lies about it, as you know, everybody who shops knows that prices are up, everybody except the US government. Rogers repeated his view that the Fed's quantitative easing program is "debasing the currency" and said he was "extremely worried" about the fate of the dollar over the long term. Asia is the region where investors should go, as countries in that region have strong reserves while once-strong economies such as the US and the UK are now in debt, he said.

NATO's own figures revealed that the number of civilians killed by NATO in Afghanistan had well more than doubled year over year.

Who is Standard & Poor's to tell America how much debt it has to shed in order to keep its credit rating?