Archive for the 'Economics' Category

The First Annual George Bush & Government, Inc. Bashing Post

Published
by
Jeremy Clifton
on April 23, 2008
in Economics, General Stupidity, Libertarian Party, Life, Politics & Other Objectionable Subjects and Small Business
. 5 Comments

No, I’m not dead. Yes, I know it’s been over a month since I posted anything worthwhile. Hopefully that will change.

I am currently in the midst of making some major decisions about the direction of my business, so that has been occupying my time. I’m also now in charge of audio and computer stuff at church, which took an immense bite out of my time because I had to figure out on my own how all the sound stuff at church worked together because nobody else knew everything about the system. Finally, I’ve been trying to spent more time with my wife and daughter despite all of the above and all my other commitments. Fun times …

This month I did manage to find my way onto television. The Hamilton County Libertarian Party staged its annual tax protest here in town, and I got interviewed since I’m now the party chair. I didn’t do so hot on camera, but I got a small sound bite (and a quote on their web site) nontheless. It’s not what I would have preferred they quoted … but oh well.

On to basic complaining …

Yesterday on the radio I heard a GWB sound bite. It went something like “We’re not in a recession … [pregnant pause] … it’s just a slowdown.”

Um, George … I think “recession” and “slowdown” essentially mean the same thing. What you said is about as logical as saying “I don’t drive a car … I drive an automobile.” Or “We’re no sailing the ocean … we’re sailing the sea.”

Next gripe … there are advertisements on WGOW for the “First Annual Southside Blues Festival.” People, people … don’t call the first ANYTHING the “first annual (fill in blank).” You’ll just look stupid if the whole endeavor goes toes up and you don’t have a second one … and of course having the event for multiple subsequent years is a qualification for something to be “annual.” MAYBE after the first year you can call the next one the “Second Annual _______” but I’d wait until the third year.

It reminds me of when one of my former churches held their “first annual missions conference and dinner” … there was no “second annual missions conference and dinner.” Or, in another vein, it reminds me of when I was on the way to the Outer Banks in 1998 and saw a sign for a restaurant that was “famous since 1996.”

That being said, I hope the blues festival is a great success and we do have it regularly. I hope to be there … it sounds like it’s going to be good.

No Wonder the Economy is in the Toilet …

Published
by
Jeremy Clifton
on March 10, 2008
in Economics and Humor
. 4 Comments

I found this piece of mail in my mailbox a few days ago:

come_again.jpg

Besides being addressed to “Four-Ight-Four Sftwr Works” … I was amused at the idea of “keep[ing] [my] business in the black” while charging stuff to a credit card.

Is it any surprise that our nation is in serious economic trouble when a credit card company can send out something like this (presumably with some modicum of straight-facedness)?

Bernanke Wakes Up

Published
by
Jeremy Clifton
on February 28, 2008
in Economics, Misc. Notes and News
. 2 Comments

So, I saw on CNN this morning that Bernanke is now “concerned” about inflation. Well, it’s about time! Gold started last year at about $600, and ended it at about $800/ounce. As of the last week, only two months into the year, it’s been hovering around $950. Gas prices are up. Food prices are up. And he’s just starting to be concerned? Please. This is like being concerned about a plane crash after the fourth engine on your Flying Fortress flames out and you just got your tail sheared off by anti-aircraft fire. Most people started worrying when the second engine dropped offline. And Bernanke, bless his little heart, now drops hints that he might lower interest rates again. I guess we might as well go ahead and jettison those wings too and make the inevitable happen a little faster there …

Kudos to Sen. Corker

Published
by
Jeremy Clifton
on February 8, 2008
in Economics, News and Politics & Other Objectionable Subjects
. 4 Comments

I know I’m several days late on this … I blame the loss of my dearly beloved Powerbook and the business that accompanied the approaching primary election and my trying to catch up on work.

I’m no fan of Bob Corker. I did not vote for him when he ran for Senate. But … the man deserves recognition for doing the right thing and speaking out against the “stimulus” plan that has swept the government by storm, even though his opposition is unpopular.

Though he said he was happy Americans would get checks, he said he found “something inappropriate about a deficit-ridden federal government borrowing money from our grandchildren and sprinkling it across the country for a short-term fix that will do little, if anything to jump-start our troubled economy.” Hear, hear!

(From “A flawed stimulus plan,” an editorial in the Chattanooga Times-Free Press)

Sen. Corker … thanks for standing up and being willing to calling this exactly what it is … a political ploy.

Proper Education (For Mr. Bernanke)

Published
by
Jeremy Clifton
on February 1, 2008
in Economics
. 0 Comments

(Apologies to Pink Floyd)

We don’t need no mo’ inflation
We don’t need no economic controls
No stimulus packages from the Guv’ment
Bernanke, leave the economy alone.
Hey! Bernanke! Leave the economy alone!
All in all it’s just another nail in the coffin.
All in all you’re just another nail in the coffin.

Paul Volcker Endorses Obama

Published
by
Jeremy Clifton
on January 31, 2008
in Economics, News and Politics & Other Objectionable Subjects
. 0 Comments

Since I’ve invoked Paul Volcker’s name twice in the last couple of weeks, I felt like I should note that he endorsed Obama today (”Paul Volcker, Former Fed Chairman, Endorses Obama“).

“It is only Barack Obama, in his person, in his ideas, in his ability to understand and to articulate both our needs and our hopes that provide the potential for strong and fresh leadership,” Volcker said in an e-mailed statement today.

Hmmmmm. I’d be interested in hearing what Obama thinks about Volcker’s actions during the late seventies/early eighties when he peeved pretty much everybody by hiking the interest rates up, but saved the economy in the process. Obama … do you think we should do the same thing today?

Hat Tip: Lew Rockwell

Paging Paul Volcker …

Published
by
Jeremy Clifton
on January 30, 2008
in Economics and News
. 0 Comments

Paul Volcker, could you please come to the Customer Service Desk at the Federal Reserve, and slap Michael Bernanke a few times for us?

Geez … another interest rate cut, just over a week after the last one. Y’all up there in Washington ever heard of the phrase “like pouring gasoline on a fire”?

If you idiots keep this up, the economic reckoning coming our way is going to be (to use the words of another phrase from ’round where I grew up in the South) “uglier than homemade sin.”

An Economics Lesson in “Baby Blues”

Published
by
Jeremy Clifton
on January 27, 2008
in Economics and Humor
. 0 Comments

I rarely read the comic strip “Baby Blues,” but I did notice this one from Friday (or maybe it was Thursday):

baby_blues.gif

Now, what do you suppose the government would do in a situation like this? Somebody would feel sorry for Zoe, and say she wasn’t able to earn a living wage, and Congress would pass legislation that would prevent Hammie from charging less than a dollar for his quarters, or perhaps they would slap a $0.75 tax on quarters purchased from Hammie to protect Zoe.

More seriously, though, this strip shows how competition in the market works to keep prices at a reasonable level.

Day Two Without My Mac

Published
by
Jeremy Clifton
on January 27, 2008
in Economics, Humor, Life and Misc. Notes
. 0 Comments

Mouth is dry and parched; tongue sticks to the roof. Feeling dizzy and disoriented. Having hallucinations. Trouble sleeping and bizarre dreams when I do. Probably qualified to be the chairman of the Federal Reserve now.

Glenn Beck Validates Ron Paul’s Income Tax Claim

Published
by
Jeremy Clifton
on January 23, 2008
in Economics, Politics & Other Objectionable Subjects and Ron Paul
. 7 Comments

Earlier today Ron Paul was on the Glenn Beck TV show via telephone. I was just reading through a transcript of the show, and this part caught my attention:

GLENN: When you were on my program on television, you said something that I didn’t correct because I didn’t — I mean, it sounded so outlandish but I let it go because I didn’t have the facts and you sounded so convinced of it that I thought, hmmm, I’ve got to check into that and I’ll correct it the next time he’s on or I’ll correct it the next day. What you said was, if we got rid of the income tax, the Government would still take about the same amount of money in as they had ten years ago.

PAUL: Approximately.

GLENN: We looked into it and it’s accurate. Can you explain that and how do we get that message out to people?

I’ve heard people ask Paul time and again in interviews how the Federal government would operate if we completely eliminated the income tax, and he’s always responded that if we did, we’d be taking in the same amount of money we were ten years ago … and without fail the person(s) interviewing him laugh as if the idea is absolutely preposterous.

Here we have Glenn Beck, who was (at first) not a Paul supporter … saying he thought the idea was “outlandish”, and that he checked into it and Paul is correct.

And then there is this gem:

GLENN: I mean, you know, we just — I just happen to disagree with you, but I respect you, sir, for your opinion. I have said this, you know, behind your back. So let me say it to your face. I think you are the closest we have running to a founding father. You seem to be the only guy who has actually read the federalist papers. So I appreciate your efforts, sir.

I think Glenn is starting to like Ron.

Addendum: You can find the transcript of the entire interview here: Ron’s Revolution