Pilant's Business Ethics

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Tag: krugman

Deficit Hawks Ignorant

 

 

 

Deficit Hawks Ignorant

 

I’m now 57 years old and the tale of imminent fiscal catastrophe begins with my awareness of its use by Reagan who ran on fixing the deficit and then cut taxes, of course, increasing the debt. And that is how it has always gone. It’s always a apocalyptic event closing in on us like a relentless tsunami, unless there’s an opportunity for a tax cut, in which case, the deficit hawks or deficit scolds (whatever term you prefer) go silent. They are only loud when talking about cutting social programs. They maintain a studious silence when tax increases are discussed. And do you know why, because deficits can be a problem but for these people, it’s a good problem because it’s a club they can pick up or put away as need arises. When there can be tax cuts, the club is put away and when there can be cuts in the safety net, the club can be wielded fiercely and recklessly.

 

They’re not ignorant. They know exactly what they’re doing. It’s just a tactic.

 

James Pilant

 

Krugman: Deficit scolds “literally have no idea what they’re talking about” – Salon.com

 

http://www.salon.com/2013/10/25/krugman_deficit_scolds_literally_have_no_idea_what_theyre_talking_about/

 

Noting the continued endurance of low levels of inflation and low interest rates, which should contradict the expectations of anyone buying into the looming fiscal catastrophe narrative, Krugman ridicules his opponents for having been so wrong for so long, seemingly without ever giving their beliefs a second thought. “It’s actually awesome, in a way, to realize how long cries of looming disaster have filled our airwaves and op-ed pages,” Krugman writes. He then goes on to cite an Alan Greenspan op-ed in this vein, one that was written nearly three and a half years ago, but that for all intents and purposes could have been published just yesterday.

 

via Krugman: Deficit scolds “literally have no idea what they’re talking about” – Salon.com.

Progressives Need to Politicize Money (via Gerry Canavan)

Progressives Need to Politicize Money (via Gerry Canavan)

Exactly.

One of the most important lessons of the economic meltdown in 2007 and the mortgage crisis that followed was how little bankers and mortgage companies had to fear from the law. It seemed at that time and still does, that there is no action so unprecedented and no cruelty inflicted on borrower or public that can arouse a federal prosecutor to action, while a minor drug charge calls down every weapons of the state from property seizure to fines and imprisonment. Two tiers of justice, two kinds of justice, is one too many.

James Pilant

From a series of legal codes favoring creditors, a two-tier justice system that ignore abuses in foreclosures and property law, a system of surveillance dedicated to maximum observation on spending, behavior and ultimate collection of those with debt and beyond, there’s been a wide refocusing of the mechanisms of our society towards the crucial obsession of oligarchs: wealth and income defense. Control over money itself is the last component of o … Read More

via Gerry Canavan

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Jayaraman Rajah Iyer comments on "Offshoring has Destroyed the US Economy (via Suzie-Q’s Truth and Justice Blog)"

Jayaraman Rajah Iyer comments on "Offshoring has Destroyed the US Economy (via Suzie-Q’s Truth and Justice Blog)"

Jayaraman Rajah Iyer walks his own path and has his own thoughts. Here’s what he things about the afore mentioned post –

Dear JP

US has created a bubble of its own, not just a furious-attack as Krugman says [from WP on the bubble..the response of the right was a furious attack; basically, it was politically incorrect to raise any question about the glorious Bush boom.] but a piranha syndrome on any one who talks against cap… before the ism is even completed, by US – .com, .gov, .edu, .org, in one voice by the dots that stand disconnected otherwise. US.ppl stands completely alienated. An idea when turned over, through a maze of analysts before considered by the CEO led team of experts at a Camp Goliath or some such resorts the incremental cost of the idea is so prohibitive in comparison to the corresponding benefits, that it is thrown in the dust bin. US has expended itself out. No country in the world can afford US Model.

Quotes from Jayaraman Rajah Iyer.

From the web site, Jayaribcm’s Blog.

http://jayaribcm.wordpress.com/2012/11/14/reviving-keynes-animal-spirits-for-your-business/#more-1104

Recently (July 2012) Dr. Manmohan Singh, Prime Minister of India declared “Reverse the climate of pessimism… revive the animal spirits in the country’s economy,” It is indeed surprising the catch-phrase was not made use of all these years and Dr. Manmohan Singh a renowned economist himself had stressed on bringing optimism to his second wave of reforms for revival of Indian economy. Can Animal Spirits be implanted to Indian Economy? What about for Corporate Sector? The note prepared by IBCM© Research is published here with regard to Animal Spirits that John Maynard Keynes stated in the year 1930 and what it means to corporate? ‘Reviving Keynes Animal Spirits for your business –

Measuring by Return on Intangible’ is one that can bring in measurable vibrancy within an organisation. IBCM© Research Consulting shall be the agent of change.

From the web site, Jayaribcm’s Blog.

http://jayaribcm.wordpress.com/2012/09/29/investment-decisions-for-pension-funds-by-intangible-value-capital/

Investment decisions have to go deeper in identifying where to invest so
as to have a long term benefit for both the parties – Investor and
Investee, where Value System takes precedence in measuring to the
expectations. Equity portfolio of the investor will remain the driver to
accelerate towards higher rating by Intangible Value Capital that
measures the value system of the Corporate. Same is true for banks on
credit risks. It is inevitable IBCM© Research’s Intangible Value Capital
would remain as the one foremost Rating methodology necessary for any
investment decision.

From the web site, You Tube. (Click to hear his thoughts on his book.)

Inactivity Based Cost Management by Jayaraman Rajah Iyer  

The theme of the book is: Activity is a Cost Incidence whereas
Inactivity Cost has a Consequence. Inactivity Based Cost Management is
Measuring Intangible: Governance,Ethical & Fiscal Responsibility and
Accountability. Cost Consequence is relevant for only one day, i.e.
today, as a corollary Governance is feasible for only one day, i.e.
today. Inactivity Based Cost Management measures your skills and
energies of Governance, Corporate or Government.

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