Amazing that Mr. Gramm could misinterpret “It’s a Wonderful Life” so badly. I remember watching the movie for the first time a few years ago and thinking it was a critique of capitalism run amok and how it can ruin communities if left unchecked; in the move George and his virtue and emphasis on community serve as the check.
Your comment on Phil Gramm and George Baily reminded me of my favorite description of an economy occasionally referenced by Michael Pettis "former Fed Chairman (1932-48) Marriner Eccles, ... from his memoir, Beckoning Frontiers (1966): As mass production has to be accompanied by mass consumption, mass consumption, in turn, implies a distribution of wealth – not of existing wealth, but of wealth as it is currently produced – to provide men with buying power equal to the amount of goods and services offered by the nation’s economic machinery. Instead of achieving that kind of distribution, a giant suction pump had by 1929-30 drawn into a few hands an increasing portion of currently produced wealth. This served them as capital accumulations. But by taking purchasing power out of the hands of mass consumers, the savers denied to themselves the kind of effective demand for their products that would justify a reinvestment of their capital accumulations in new plants. In consequence, as in a poker game where the chips were concentrated in fewer and fewer hands, the other fellows could stay in the game only by borrowing. When their credit ran out, the game stopped."
And a good segway into your highlight of the SHIPS Act for the imperative of investment and growth as the long-term solution to our budget crisis. Thanks for the wonderful work, and Merry Christmas to all!
I don't think the issue with Musk is a new turn towards corporatism. The issue is that he has yet to show he has any interest in policy beyond a good Twitter post. At some point the Doggy Commision needs to show some depth over his desire for attention and entertainment.
I would double check your comments about immigrant labor and Florida. I just discussed the subject with a friend of mine over Thanksgiving who owns a flooring business in Florida.
Flooring businesses used to charge $2 / square foot to install flooring in new homes, which is what they paid their installers. Immigration over the last couple of years lowered the market price to $1, where it is today.
My friend can’t get a job if he bids $2 / square foot for the labor and the installers he used to use can’t make a living at $1. To make ends meet immigrant laborers are living in squalid conditions in over crowded housing.
And the prevailing attitude of the business owners in Florida’s construction industry does not appear to be in favor of deporting anybody.
Joe and Camella in charge? Never were. The deepstate runs this place. Has since the end of WWII and especially since the berlin wall fell. The powers in charge are in compliance with each other and are Wall St, Silicone Valley, Security apparatus (top 5 defense industry companies, CIA DOS DOD), Multi-corporations, and the Bankers who finance this. These entities cohort with one another through unelected officials. China really has thrown a wrench into their workings. China just won't play the game, and now that frisky Russia, (Doesn't Russia remember what John McCain said, Russia is just a gas station stop). They just won't mind their places.
Blow them up and then lend them money to rebuild. Wash and repeat.
HINT: no i am not a fan of China or Russia, they both are many times over worst than us. Just answering the question who is in charge is what i have tried to do.
Oren i really tried to watch Phil Gramm because i like you so much but I'm sorry i couldn't do it. Just listening to his voice is so nauseating. I'm 70 years old and had to listen to him growing up, yuck. His type republicans are the reason i left the party 30 years ago. Mouth piece for the deepstate.
George Bailey seems to have had 3 children at the time of the movie, perhaps more later. This would be most difficult today because of the car seat tax. Rather than getting rid of the car seats which do have some benefit, get rid of the CAFE standards which prevent normal people from getting more than 2 in. There are other benefits of this.
Amazing that Mr. Gramm could misinterpret “It’s a Wonderful Life” so badly. I remember watching the movie for the first time a few years ago and thinking it was a critique of capitalism run amok and how it can ruin communities if left unchecked; in the move George and his virtue and emphasis on community serve as the check.
Your comment on Phil Gramm and George Baily reminded me of my favorite description of an economy occasionally referenced by Michael Pettis "former Fed Chairman (1932-48) Marriner Eccles, ... from his memoir, Beckoning Frontiers (1966): As mass production has to be accompanied by mass consumption, mass consumption, in turn, implies a distribution of wealth – not of existing wealth, but of wealth as it is currently produced – to provide men with buying power equal to the amount of goods and services offered by the nation’s economic machinery. Instead of achieving that kind of distribution, a giant suction pump had by 1929-30 drawn into a few hands an increasing portion of currently produced wealth. This served them as capital accumulations. But by taking purchasing power out of the hands of mass consumers, the savers denied to themselves the kind of effective demand for their products that would justify a reinvestment of their capital accumulations in new plants. In consequence, as in a poker game where the chips were concentrated in fewer and fewer hands, the other fellows could stay in the game only by borrowing. When their credit ran out, the game stopped."
And a good segway into your highlight of the SHIPS Act for the imperative of investment and growth as the long-term solution to our budget crisis. Thanks for the wonderful work, and Merry Christmas to all!
I don't think the issue with Musk is a new turn towards corporatism. The issue is that he has yet to show he has any interest in policy beyond a good Twitter post. At some point the Doggy Commision needs to show some depth over his desire for attention and entertainment.
I would double check your comments about immigrant labor and Florida. I just discussed the subject with a friend of mine over Thanksgiving who owns a flooring business in Florida.
Flooring businesses used to charge $2 / square foot to install flooring in new homes, which is what they paid their installers. Immigration over the last couple of years lowered the market price to $1, where it is today.
My friend can’t get a job if he bids $2 / square foot for the labor and the installers he used to use can’t make a living at $1. To make ends meet immigrant laborers are living in squalid conditions in over crowded housing.
And the prevailing attitude of the business owners in Florida’s construction industry does not appear to be in favor of deporting anybody.
Joe and Camella in charge? Never were. The deepstate runs this place. Has since the end of WWII and especially since the berlin wall fell. The powers in charge are in compliance with each other and are Wall St, Silicone Valley, Security apparatus (top 5 defense industry companies, CIA DOS DOD), Multi-corporations, and the Bankers who finance this. These entities cohort with one another through unelected officials. China really has thrown a wrench into their workings. China just won't play the game, and now that frisky Russia, (Doesn't Russia remember what John McCain said, Russia is just a gas station stop). They just won't mind their places.
Blow them up and then lend them money to rebuild. Wash and repeat.
HINT: no i am not a fan of China or Russia, they both are many times over worst than us. Just answering the question who is in charge is what i have tried to do.
Oren i really tried to watch Phil Gramm because i like you so much but I'm sorry i couldn't do it. Just listening to his voice is so nauseating. I'm 70 years old and had to listen to him growing up, yuck. His type republicans are the reason i left the party 30 years ago. Mouth piece for the deepstate.
George Bailey seems to have had 3 children at the time of the movie, perhaps more later. This would be most difficult today because of the car seat tax. Rather than getting rid of the car seats which do have some benefit, get rid of the CAFE standards which prevent normal people from getting more than 2 in. There are other benefits of this.