I've already mentioned my initial thoughts on the Occupy Wall Street movement (#OWS). Here's some snippets from a couple of others with some interesting insights. First, historian William Hogeland writes at his blog Hysteriography. He notes how the #OWS movement is a deeply American movement. It has roots in the American revolutionary period as much … Continue reading Some Other Interesting Perspectives on OccupyWallStreet
Both official Washington and the chattering political classes have spent most of the past 12 months debating how to cut the government budget, reduce deficits, and limit debt. Key groups, and perhaps the most vocal and strident groups in the debate, have been the self-described "constitutional conservatives" and Tea Party types. They have staked out … Continue reading Founding Fathers Would Have Opposed A Balanced Budget Amendment – The Purpose of National Government Was to Borrow
I don't enjoy scary movies. Never have. I also don't enjoy scary "amusement" park rides.* I know I'm kind of a fluke in our U.S. culture this way. I just find that there's enough excitement, thrills, and fright in the real world if you just open your eyes. An example of real world things to … Continue reading This Is No Movie Folks. It’s Real and It’s Scary.
Apparently, the Republicans and Tea Partiers are insisting that the federal government budget be balanced immediately (the demand for no increase in the debt ceiling) and that it be done entirely from spending cuts (the "no tax increases" pledge) to discretionary spending. This is enough to demonstrate that they simply are not dealing in reality … Continue reading Arithmetic, Reality, and Dreams of A Balanced Budget
Economists widely believe themselves to be social scientists. And gosh-darn rigorous scientists at that - I mean just look at all that esoteric math! Why, why it looks just like physics! (well, 19th century physics at least). As everybody knows, real scientists observe things. They observe nature, experiments, phenomena.Economists are supposed to observe and … Continue reading Economists For Sale
I'm cross-posting the following with permission from New Deal 2.0. This should be of particular interest to students of American history. Our current struggles and political battles over the relative power and influence of banks and the monied class vs. ordinary citizens, workers, and small businesses, most of whom are dependent on sources of financial … Continue reading Bankers vs. Democratic Finance at The Constitutional Convention
From the Wall St Journal via Yves Smith at nakedcapitalism. Self explanatory. Even Tea Party Members Do Not Support Cutting Social Security It seems that the efforts of the austerians to cow the public into cutting Social Security and Medicare are not getting traction. And Tea Party adherents are breaking with the Republican party line … Continue reading