My Thoughts on Our Economic Mess
Economics is not an exact science. Anyone that claims that they know why we are in the mess we are in today and know exactly what will get us out, lives in fantasy land.
Just because we do x does not mean that y or z will result. Economist use the SWAG system (Scientific Wild Ass Guess). The best that an economist can give us is a probability of what may happen.
What one can say though is what actions taken are morally reprehensible.
The United States and our European allies are facing the greatest economic challenge in our lifetime. Everyone is calling for austerity and sacrifice but it appears that it is to be on the backs of those that are powerless and can least afford it.
It is morally reprehensible to take funds away from education.
It is morally reprehensible to take funds away from the sick and disabled.
It is morally reprehensible to take funds away from those who live in abject poverty.
It is morally reprehensible to take funds away from our older folks that have paid their dues.
It is morally reprehensible to take funds away from those who have lost their jobs because of the greed of Corporate America.
and John SCORES!!!!
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I think the Tea Party is a political terrorist group… not in the sense of a Middle-East terrorist, but a terrorist nonetheless. They demand their ideology be adopted or they threaten to sink the ship… they demand their way or the highway and openly are anti-democratic and anti-compromise. This is the definition of political terrorism and I surely hope enough Americans wake up and see what they are doing before it is too late to save anything that is left in their path of destruction.
Later!!!!!!!!! :love:
The failings of economists are not because they were talking wild ass guesses. It was because they were basing what they thought was sound sound analysis on flawed assumptions. Markets are not infallible, as Republicans would have us believe.
I am not going to give up on the science of economics though. I think that if we can understand how the economy works, it will better allow us to make important decisions based upon what is best for the society as a whole. Although I agree that all of the special groups you describe above must be considered in light of a compassionate valuation that goes beyond the cold numbers of dollars and cents, at the same time, we must be cautious about allowing emotions to dictate our analysis of economics.
You speak of morality.
The definition of society itself is a negotiated moral order.
In our efforts to protect the morality that we share in the negotiation that defines who we are as a society, I will not give up on the tools of science, i.e., economics. Blast the discipline all you want, but it is not entirely without value, and the stakes of what we’re fighting for are such that I will not set aside any tool that will be useful in determining where our society goes next.
*2 Kudos*
It is always a relief to see a confirmation of what I believe to be f*cked up is also what someone else feels. Sometimes I wonder if I know the difference between right and wrong anymore, strange as that may sound.
Anyway good entry man, and there is no way as you said, to predict what the hell might happen when you have an equation with human beings, and money, as two of the variables. It would require that a standard exist for rational human behavior first… or at minimum a way of predicting the rate of change which occurs in most humans when they are looking at dollar signs, or the lack of them. And calculus just does not cover something like that, not yet anyway. That’s the way I look at it.
Economics does not figure in the human factor strongly enough, I don’t think. {Human factor: We will generally f*ck up any plan if it relies upon logic and sense to any degree]
😐
The Debt Compromise was not a Compromise at all.
The Simple Truth is, That when Consumers do not have money, they do not buy anything.
Our Government has been AntiConsumer for 30 years. and we are now living with the result.
Obama and the Republicans Pro-Business spending will not impact the economy at all. It will make the current recession worse.
“It is morally reprehensible to take funds away from education.”
I agree with that. But, I must have fail to notice that Congress is attempting to remove funds from education. If you want to talk about it on the state level, than agree. But, each state has its own priority in what to cut. Most states cut education and health care. In Louisiana, the state will cut education and health care so dam bad, that some technical college is on the verge of closing its downs on their students. It is in the Louisiana constitunets to drastically cut education and health care and what seems like never cut from any other revenue especially businesses. I mean, fuck! It sucks to know that I may not finish school because of the lack of credits I need for a class. I don’t know how bad our health care is because I am still in good health, physically.
My worst nightmare. To gradulation from school and not be able to find a dam job in the field I went to school for. I think, I will have a second major depression if that happens again.
Hey! Any one noticed why Louisiana business is still thriving? Yet, notice that we lack workers will good skills… WTF!
I wish Obama and Congress would change the patient’s right. At least when it comes to people that have or developed mental problems and addicted to illegal drugs. Ever tried to help a family member that is an adult get help? Psht…the law is not on your side. You must watch your family member suffer, which takes a heavy toll on the whole family…
Economics is not an exact science, but it is a statistical science. Whenever we have tried Supply Side economics, we have gotten a Depression, or a Recession. Whenever we invest in Infrastructure or try Demand Side economics, we get a recovery, or an economic boom
So the very things the Republicans are saying we can’t afford to do right now, are the very things which would fix our economic problems