Comments by MMTSB

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Posted on March 14 at 8:32 a.m.

I wonder if Mr Ford will give some money to the community after reaping such a reward. I doubt it. He will probably give it to Romney.

On Union Bank Buys SBB&T for $1.5 Billion

Posted on December 15 at 9:20 a.m.

Both left and right are wrong again....

Reagan's deficits helped the United States recover from recession.

The last thing we need now is balanced budgets. The market knows this. Hence why the interest rates are at the lowest rates ever.

With higher deficits we get lower interest rates. The opposite of knee jerk economic theory that both left and right point at.

Yeah we need to make the tax code more understandable and take away most deductions but a flat tax with our income inequality is no panacea. In fact it is more destabilizing. Capitalism cannot work without both producers and consumers. Kill the consumer with lack of income and higher taxes, kill the economy. The way the consumer kept up with producers is by going into debt. Those days are over. The balance sheet recession era has begun.

On Bring Back Reagan Economics

Posted on November 29 at 4:45 p.m.

bill great idea.

1. Too many people in debt./Foreclosure crisis killing income.
2. Too little money coming from the federal government. (California receives 80 cents on the dollar it pays in federal taxes)
3. Housing prices still too high.
4. Race to the bottom states paying less wages.

There I did it for you.

On By the Sweat of the Dog

Posted on November 18 at 4:11 p.m.

waz - Sorry you got that from my post. That is not what I was implying. I am showing that more Socialism/less Socialism is a false dichotomy. It is not one or the other because as you can see being more Socialist does not cause the problems for Norway as we have seen in Greece. Which are more similar to each other than either are to the USA.

So if it isn't Socialism? What is it?

1. Lack of taxing power.
2. Hiding of debts.
3. Loss of monetary sovereignty.
4. Too strong of Euro.
5. Austerity is counterproductive in a deflationary environment.

As for our country. I have not called for more Socialism. I have called for more tax cuts for the working class, infrastructure spending plus higher minimum wages.

On Living High On the Hog

Posted on November 16 at 4:29 p.m.


I agree, there always has to be social spending. For the young, the poor, the disabled, the slackers, and the old

About decent wages... Shouldn't work be rewarded? Work is production.

We are in control of the dollar, not the Chinese. That is a myth. They choose to peg to our currency. They use us because we are great consumers. Our consumer infrastructure is the best in the world. They buy Treasuries because they have no other choice. They are getting paid in our dollars. If they don't buy Treasuries, they will lose that peg. If they lose that peg, they lose us as customers. If they lose us as customers, they cannot employ their masses.

Our Congress are the ones that can control spending and tax rates. Two tools that the Chinese do not have. They set the rules for debt ceiling and the sort. Not the Chinese.

On Living High On the Hog

Posted on November 16 at 3:01 p.m.


Not enough oil here. Even if we pump every place we can. King Hubbert already said this in the 1950s. It is the reason the Suadis are the price setters, not the Texas Railroad Commission.

Externalities like pollution and spills do matter. Hence why there is even a tiny bit of regulation even in our great nation.

Social welfare is not needed if people are paid a decent wage for the work they do. Are you for increasing minimum wages? How about decreasing payroll taxes?

The US government is the price setter for taxes and minimum wages, not the private sector. The government controls the dollar.

On Living High On the Hog

Posted on November 16 at 10:19 a.m.

waz -
I don't deny private capital is part of the more socialist state of Norway. I never called them Socialist. I said more Socialist than Greece.

For instance, Norway and Germany have more public sector employees per workforce than Greece. You are trying to tell me that Greece is more socialist than those northern countries?

Remember I don't post out of ignorance.

If the Founders did not set up guarantees why did Alexander Hamilton guarantee the debt of the States and Federalized it?

The dollar is a government monopoly. It grants rights to banks/credit unions to create it through charters. But in the end it is always guaranteed by the state and given power by the state.

On Living High On the Hog

Posted on November 14 at 4:44 p.m.

waz - I don't post in ignorance...

Statoil the biggest oil company in all of Scandinavia. And is majority owned, 66%, by the Norwegian government.

On Living High On the Hog

Posted on November 11 at 3:30 p.m.

Let the 1% swim in their money like Uncle Scrooge. The 99% don't need it. What we need is income and employment.

waz - Greece is less Socialist than the richest and most Social per capita country in the world.... Norway.

Wait what... Norway has oil. So it doesn't take corporate capitalism to extract wealth for the people.

On Living High On the Hog

Posted on November 4 at 4:48 p.m.

CommonsenseSB - Adam Smith knew that money in too few hands was a bad idea. Remember capitalism pretty much overthrew feudalism. So if you read his quote carefully it is not saying that a flat tax is fair but taxes on unproductive rents is fair. It is more of a Georgist idea than a pure progressive income tax idea. The reason for a progressive income tax is pretty much the same as what Adam Smith and Henry George was promoting.

Why do you keep on saying that we don't have the money. If we didn't have the money than it couldn't be spent. It is obvious to me that it is spent. Of course we account for this by the Government issuing Treasuries. But no one is forced to buy them. Remember earlier this year when S&P downgraded the USAs debt. Predictions of higher interest rates were thrown about. I said nonsense. There is nothing safer than Treasuries if money is denominated in dollars.

Greece does not control their money, the Euro, while the Fed/Government controls the dollar. If you actually did investing on what your political beliefs were you would lose money.

On Americans Deserve Jobs Act

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