Sunday, October 23, 2011

@15:01, @20:55 10/22/11 4, 8

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http://www.huffingtonpost.com/robert-reich/flat-tax-progressive-tax_b_1026339.html
http://robertreich.org/


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    I could point to several things.
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    • Paul recommended an article:
      Jun 15, 2010
      The Larger Struggle
      A rivalry is growing between democratic capitalist and state capitalist systems.
      David Brooks is wrong From the start to his unsupported conclusion.
      We do indeed need to move away from fossil carbon.
      Global warming is part of it. The constant strain on our balance of payments is another part.  The addictive nature of motor transport and highways and tractors, yet more.  None of these speak to capitalism.
      I do not see the philosophical split Brooks spends most of his space on.  Oligarchy is nasty. Whether it owns the government or is the government makes little difference to those not included in the circle of power.
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    snowchacha@aol.com
    • Paul recommended an article:
      Jun 15, 2010
      The Larger Struggle
      A rivalry is growing between democratic capitalist and state capitalist systems.

      David Brooks is wrong From the start to his unsupported conclusion.
      We do indeed need to move away from fossil carbon.
      Global warming is part of it. The constant strain on our balance of payments is another part.  The addictive nature of motor transport and highways and tractors, yet more.  None of these speak to capitalism.
      I do not see the philosophical split Brooks spends most of his space on.  Oligarchy is nasty. Whether it owns the government or is the government makes little difference to those not included in the circle of power.



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  • TimesPeople recommended a user:
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    agujaloca
  • TimesPeople recommended a user:
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    I just don't want or need a machine that talks at me.
    The data rate is low and translation is demanding for me.
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    4Heavenssake
    • Henry recommended a blog post:
      Mar 7, 2011
      Does IMF Stand for Impressive Macroeconomic Flexibility?
      So the IMF is holding a meeting on rethinking macroeconomic policy (I was invited but couldn’t make the timing work.) And the Fund’s chief economist has already made it clear that he’s open to some serious revision of the prevailing paradigm.

      http://www.guardian.co.uk/business/2011/oct/23/greece-austerity-turns-crisis-into-disaster

      Loans didn't help Greece recover – but it was austerity that turned a crisis into a disaster

      The 'bailout' offered to the Greeks will have seen its economy contract 15% by the end of next year – a chilling illustration of what happens to economies starved of growth

      http://ftalphaville.ft.com/blog/2011/10/21/709076/greece/
      FT Alphaville has also taken a look at “Greece: Debt Sustainability Analysis”, an assessment prepared by European Commission economists for discussion on Friday among European finance ministers. We’ve put it in the usual place (and extensively quoted excerpts below).
      The headline: it suggests private bondholders will be pushed to take 50 or 60 per cent haircuts.

       http://www.telegraph.co.uk/finance/financialcrisis/

      An unstoppable force meets an immovable object

      With a crucial summit this weekend and time running out to save the eurozone, the need to solve a key dispute between France and Germany as never seemed so desperate.
      22 Oct 2011

      Europe's leaders threaten Greek default if banks won't take haircut

      Lenders 'may need €100bn in capital’ as finance ministers battle to reach agreement in Brussels
      22 Oct 2011

      http://www.calculatedriskblog.com/2011/10/europe-update_22.html

      http://krugman.blogs.nytimes.com/2011/10/22/meanwhile-greece/
       
      "October 22, 2011, 5:49 pm

      Meanwhile, Greece

      At this point Greece almost seems like a sideshow. Yet the scale of its coming default matters, especially with some players still denying that such a default is conceivable. So I would be remiss not to mention the awesomely depressing report of European Commission economists, which is marked “strictly confidential” but has, of course, gone viral.
      The opening:
      Since the fourth review, the situation in Greece has taken a turn for the worse, with the economy increasingly adjusting through recession and related wage-price channels, rather than through structural reform driven increases in productivity.
      That in itself is quite a revelation; did they really believe that structural reform was going to save the day? Even aside from doubts about Greek ability/willingness to carry through on promises, the fact is that nobody knows how much if any payoff microeconomic reforms will yield, and nobody in his right mind builds such payoffs into a fiscal plan.
      Anyway, here’s the current outlook:
      And this is with the Greek government assumed to run large primary surpluses — that is, surpluses not including interest payments — year after year in a deeply depressed economy."
       

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    The old guard must wait for the suppression.  As things stand they have no traction
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    • Paul recommended an article:
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    Bill Cunningham | Natty
    Here we go again.
    Less heat, tough times, warm cloths.
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    JoJo
    • JoJo commented on a blog post:
      Feb 9, 2011
      New York Congressman Resigns Over Shirtless Photo
      For those who are asking what has this got to do with whether he's doing a good job? I'm inclined to say the same thing, which is what I said about that good and competent president, Bill Clinton, when the Replutocrats impeached him. Did you say that then also? 

      The Republicans could have spent months yelling around about family values and sniffing out moral turpitude.
      This way they have to figure out other reasons to say no.












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