Why We Really Need to End the Empire: “We Can’t Cut Spending – Forbes.com”

Bruce Bartlett explains why a "balanced budget" for the US federal government is an impossibility.  Unfortunately, most people who strenously object to the deficit and want a balanced budget simply don't understand the realities.  They often confuse "millions" and "billions" (it takes 1000 millions to equal a billion).  They further operate from greatly distorted ideas … Continue reading Why We Really Need to End the Empire: “We Can’t Cut Spending – Forbes.com”

Unemployment In Michigan – Aug 2009

The unemployment rate in Michigan in August 2009 was 15.2%, up slightly from 15.0% in July, and the same as 15.2% of June.   The good news here for Michiganders is that it appears that it has stablized.  The uptick of 0.2% in one month could easily be noise.  The data are calculated from a stratified … Continue reading Unemployment In Michigan – Aug 2009

Angry Bear explains how US businesses failed in the late 20th century

Angry Bear explains how mistaken thinking in the US business community from 1960's onward set the stage for the loss of world-wide economic and technology leadership in many industries. A fable: The Guitar Player who sold his gear or, Bruce Henderson vs. Gordon Moore ~ Angry Bear. I spent much of my career from the … Continue reading Angry Bear explains how US businesses failed in the late 20th century

We need a better measure than GDP

Nobel winner Joseph Stiglitz explains why GDP is NOT a good measure of society's well-being and offers ideas on better measures.  It's a good critique of GDP. National income statistics such as GDP and gross national product were originally intended as a measure of market economic activity, including the public sector. But they have increasingly … Continue reading We need a better measure than GDP