Roberts, Krugman, new tax structure
0 views
Skip to first unread message
kathleen
Jan 21, 2008, 2:25:28 AM1/21/08
to corrupticourts
To: Spin...@yahoogroups.com, kshe...@calea.org, fit...@gmail.com,
patrick.f...@usdoj.gov, model...@sbcglobal.net,
jdr...@nejm.org, let...@courant.com, Jgerb...@cdc.gov,
len...@courant.com, michae...@po.state.ct.us,
con...@po.state.ct.us, executiv...@nytimes.com, managing-
edi...@nytimes.com, news...@nytimes.com, the-...@nytimes.com,
biz...@nytimes.com, for...@nytimes.com, me...@nytimes.com,
nati...@nytimes.com, dv...@cdc.gov, brigidc...@optonline.net,
tr...@hotmail.com, ubi...@courant.com, ma...@concentric.net,
camp...@courant.com, jhorn...@fff.org, thomas...@usdoj.gov,
thoma...@po.state.ct.us, kur...@washpost.com,
georg...@washpost.com, hor...@courant.com,
commissi...@po.state.ct.us, cohen...@aol.com,
FalN...@aol.com, brans...@comcast.net, vts...@comcast.net,
o...@po.state.ct.us, da...@davila-dilzer.com,
scott....@po.state.ct.us, govern...@po.state.ct.us,
attorney...@po.state.ct.us, randall...@usdoj.gov
Cc: fra...@ucia.gov, dr-ahma...@president.ir,
eugener...@washpost.com, hor...@courant.com,
bmi...@newstimes.com, tr...@hotmail.com, rast...@aol.com,
billc...@gmail.com, thomas...@usdoj.gov, amcg...@rms-law.com,
rjmu...@aol.com, paulcrai...@yahoo.com,
sidney_b...@yahoo.com, criminal...@usdoj.gov,
karla.d...@usdoj.gov, christophe...@usdoj.gov
Subject: Roberts, Krugman, new tax structure
Date: Jan 21, 2008 2:17 AM
(ROBERTS, below, KRUGMAN on REAGANOMICS, all over the net)
1) I recommend that "non-profits" get an immediate second look. If
they
are research institutions that take free government funds and then
turn around and
patent those items - monopolizing their use and denying their use for
the common
good - they are not non-profits (Yale, Tufts, the Mayo Clinic...).
2) A non-non-profit is Kaiser-Permanente, if they are training MDs at
New York Medical
College, wherein we see Russian bioweapons defectors publishing
garbage on behalf
of their government and private supporters:
http://www.actionlyme.org/BOGUS_RUSSIAN_NYMC_ARTICLES.htm
In the above link is a link (Number 6) where we see Russian scientists
at NYMC stating
that the intracellular spirochetes, and the cyst form or dormant form
are not intracellular,
while at the same time, all the crooks have referenced the URIN report
where they
acknowledge that the dormant form reverts to intact spirochetes within
one minute
of rabbit blood.
That means intracellular spirochetes are protected from ceftriaxone,
as explained
by CDC officer Mark Klempner:
http://www.actionlyme.org/KLEMPNER.htm
"Lyme Disease" is all one big lie, and Kaiser is central to it.
Kaiser and the patent profiteers.
Kaiser is training MDs at New York Medical College, and supplying the
New York Medical
board with their perjuring "experts:"
http://www.actionlyme.org/JUNE_13_2005_LETTER_TO_SPITZER.htm
New York's AG Cuomo is looking at whether offshoring students brings
worthwhile
education, when he should be looking at whether Kaiser-trained MDs is
a worthwhile
education, especially when such outrageous lies as "Lyme Disease,"-
the
disease which is so terrible we needed to rush through two vaccine
trials for it,
while at the same time stating that Lyme is easily diagnosed and cured
in, miraculously,
shorter and shorter Rx'd lengths of antibiotic treatment.
Under scrutiny for this nonsense, the Kaiser crooks scream,
"ANTIBIOTIC RESISTANCE
IS DANGEROUS!!"
Wherein, we scream, "THEN TAKE IT OUT OF ANIMAL FEED, since the SWINE
LAGOONS
are the biggest breeders of antibiotic resistance in the
environment!!!"
http://www.ncbi.nlm.nih.gov/sites/entrez?Db=pubmed&Cmd=DetailsSearch&Term=(%22swine%22%5BMeSH+Terms%5D+OR+(%22sus+scrofa%22%5BTIAB%5D+NOT+Medline%5BSB%5D)+OR+%22sus+scrofa%22%5BMeSH+Terms%5D+OR+swine%5BText+Word%5D)+AND+lagoons%5BAll+Fields%5D+AND+(%22microbial+drug+resistance%22%5BText+Word%5D+OR+%22drug+resistance,+microbial%22%5BMeSH+Terms%5D+OR+antibiotic+resistance%5BText+Word%5D)&WebEnv=0R5LSaHkmxRKvntovwntBSVcxSvttgcowZm8HNITwTmK9c1NNKDfvixcb7NPqd-7z67Bf-HYg5S-cJ%4025631EEC6FE066A0_0067SID&WebEnvRq=1
Besides, why would Lyme victims be singled out as the perps behind
antibiotic resistance
when we all know we can't sneeze Lyme onto other people? The
mechanism of antibiotic
resistance is that bugs transfer efflux pumps genes between other
organism, so we
wonder, are Lyme victims expected to believe we're such walking
laboratories
of disease, that our bugs pool somewhere inside of each of us and do
the gene swap
thang?
If so, where is this pool, and why can't the crooks perform
swinelagoon-ectomies
on us? We will be all too happy to have a simple procedure where the
little labs
inside us are removed.
3) KAISER, et al is influencing treatment "guidelines."
*All* of the insurance companies deploy the non-scientist, psychiatry,
to determine
we're all fakers.
This is "a FRAUD on the government," easily proven by the Lyme crooks
own published scientifically valid markers of disease:
http://www.actionlyme.org/BIOMARKERS2.htm
4) http://www.AHRQ.gov That's a dot guv? Look who is on the advisor
list.
People trained by BigInsurance or BigPharma, or who *ARE* BigInsurance
or BigPharma.
Get rid of it. They're not real scientists. We don't need
politicians
re-barfing up this research garbage and calling it dot guv endorsed
"expertise."
5) BIGPHARMA is hiding bad drug data and have been doing so for
years. It ought
to be charged as FRAUD. Especially if they are charging Medicare/
Medicaid for these
non-drugs, especially psychotropics, which are known to wreck further
people with
real neurologic disease.
No psych drug to my knowledge ever held a trial on any set of "crazy"
people, wherein all the scientifically valid markers of known diseases
processes
have been ruled out, especially in brain-disintegrating diseases like
autism and
schizophrenia (the Alzheimer's-like dementia kind; there are 4
different kinds).
This, too, is FRAUD.
6) BIGPHARMA builds wildly large new plants and then writes that down
as a tax deduction,
100%. For example: take a look at Pfizer. They took down all their
manufacturing
and completely rebuilt it in Groton. All new, state of the art,
batch synthesis.
Amazing high tech drug manufacturing. Just a few years later, they
are shutting
the whole thing down and manufacturing off shore. Puerto Rico,
Riggaskiddy Ireland,
etc.
Then they build a 100 million dollar new Central Research Building
smack in the
middle of the campus between the service labs and the old Bldg 118
Central Research.
They paid no taxes re that investment, either.
Number One BigPharma pays no taxes? And so much of it is redundant
nonsense?
If the FDA claims they don't have the money or time to be the FDA,
then fine,
by all means, get rid of it. We seem to find out about all the
terrible drugs via
independent law firms anyway. Why are we dumping tax money into
entities like the
NIH, CDC, and the FDA when they're all well known to be either idiots
or insider
investor biotech profiteers?
Start taxing them all immediately at 33% off the top, no deductions,
and start DOJ
investigations as a replacement for the FDA we thought we were paying
for.
This will dump relatively real dollars into the IRS. In the case of
the fake non-profits,
like Yale and Kaiser, they have really real assets like investments in
oil and timber.
That's just the medical field. The other three wings of US Corporate
Fraud and
global monopolies where fraudware are in engineered seeds, military-
tech, and BigOil.
The MILITARY?
Such paranoia is not my expertise, but clearly there are enough ex-
military and
intelligence agents who could point the finger at fraud and waste, not
the least
of which was what happened on 911.
SOMEONE pulled those WTC buildings, and they were given access by
Silverstein Properties.
I have no expertise on what happened to the Pentagon or in
Pennsylvania.
I have no expertise on who is selling what nuclear secrets to Turks
and the Pakistani
ISI.
OIL COMPANIES?
Impeach Cheney and get the information on who knew Iraq would be
attacked and divvied
up. The facts were being fixed around the policy. Plame was outed to
discredit
the truth about fake Niger forgery. The Turk/AIPAC/ISI spy network
was allegedly
warned to stay away from Plame's front company:
http://www.timesonline.co.uk/tol/news/world/us_and_americas/article3216737.ece
If Bush Senior's Carlyle Group companies got contracts related to Iraq
and Afghanistan,
by all means, let's have a look at when who got what contract.
If Iran is hiding an underground nuke facility, by all means, let's
see that
HAARP earth tomogram.
Kidnap and render to Guantanamo the Halliburton execs who now call
Dubai home.
Torture out of them details of Making War With Dick.
Take their properties; all assets. Use this equipment and capital to
build new
US New Energy Infrastructure.
The debacle of 20 years of Reagan-Bush-BushII, incompetent "DHHS" and
other "agencies," and the Israeli spooks, demands restitution.
Nevermind this new Bushie 800 "dollars" re-run of the Rockefeller Dime-
Chuck.
Nevermind the Faith-Based distractions.
If we can't find any US lawyers with the balls to take down these
corporate
crooks, let's import some from Pakistan.
KMDickson
===========================
VDARE.COM - http://vdare.com/roberts/080120_stimulus.htm
January 20, 2008
Bush To Abandon Supply-Side Economics?
By Paul Craig Roberts
With his tax rebate policy, President Bush has put economic policy
back on a Keynesian
basis. Will it work?
During the two decades it was in effect, supply-side economics had
restorative effects
on the American economy. Its predecessor, Keynesian demand
management, stimulated
demand more than supply. Consequently, over time the trade-offs
between employment
and inflation worsened, and for a while it appeared that inflation and
unemployment
would rise together. The breakdown of the Keynesian policy opened the
door for
the Reagan administration's supply-side approach.
By following Nobel economist Robert Mundell's advice to "reverse the
policy
mix," the supply-side policy allowed the US economy to grow without
paying
for the growth with rising rates of inflation. However, the new
macroeconomic policy
was not a cure-all, and its success in banishing worsening "Philips
curve"
trade-offs between inflation and employment masked the appearance of
new problems,
such as the loss of jobs and GDP growth to offshoring, problems from
deregulation,
and the growing concentration of income in fewer hands.
The Bush administration is turning to tax rebates, because problems in
the financial
system and the amount of consumer debt hinder the Federal Reserve's
ability to pump
money to consumers through the banking system. Like an easy credit,
low interest
rate policy, the purpose of a tax rebate is to put money in consumers'
hands in
order to boost consumer demand.
Will consumers spend the rebate, or will they use it to pay down their
debts? If
they spend the rebate on consumer goods, will it provide much boost to
the economy?
Many Americans are overloaded with debt and will have to use the
rebate to pay down
credit card debt. The gift of $800 per means-tested taxpayer is really
just a partial
bailout of heavily indebted consumers and credit card companies.
The percentage of the rebate that survives debt reduction will be
further drained
of effect by Americans' dependency on imports. According to reports,
70% of the
goods on Wal-Mart shelves are made in China. During 2006, Americans
spent $1,861,380,000,000
on imported goods, that is, 23% of total personal consumption
expenditures were
spent on imports (including offshored goods). This means that between
one-fifth
and one-fourth of new consumption expenditures will stimulate foreign
economies.
Americans worry about their dependency on imported energy, but the
$145,368,000,000
paid to OPEC in 2006 is a small part of the total import bill.
Americans imported
$602,539,000,000 in industrial supplies and materials;
$418,271,000,000 in capital
goods; $256,660,000,000 in automotive vehicles, parts and engines;
$423,973,000,000
in manufactured consumer goods; and $74,937,000,000 in foods, feeds
and beverages.
The Keynesian policy of driving the economy through consumer demand
was applied
to a different economy than the one we have today. In those days the
goods Americans
purchased, such as cars and appliances, were mainly made in America.
Construction
workers were not illegals sending their wages back to Mexico. The US
had a robust
manufacturing workforce. When consumer demand weakened, companies
would reduce
their output and lay off workers. Government policymakers would
respond to the
decline in employment and output with monetary and fiscal policies
that boosted
consumer demand. As consumer spending picked up, companies would call
back the laid
off workers in order to increase output to meet the rising demand.
Today Americans are losing jobs for reasons that have nothing to do
with recession.
They are losing their jobs to offshoring and to foreigners brought in
on work visas.
Today many American brands are produced offshore in whole or part with
foreign labor
and imported to the US for sale in the American market. In 2007,
prior to the onset
of the 2008 recession, 217,000 manufacturing jobs were lost. The US
now has fewer
manufacturing jobs than it had in 1950 when the population was half
the current
size.
US job growth in the 21st century has been confined to low-pay
domestic services.
During 2007, waitresses and bartenders, health care and social
assistance, and wholesale
and retail trade, transportation and utilities accounted for 91% of
new private
sector jobs.
When a population drowning in debt is hit with unemployment from
recession on top
of unemployment from offshoring, will the people spend their rebates
in eating places
and bars, thus boosting employment among waitresses and bartenders?
Will they spend
their rebates in shopping malls, thus boosting employment for retail
clerks? If
they become ill, the lack of medical insurance will direct their
rebates to doctors'
bills.
Economists and other shills for globalism told Americans not to worry
about the
loss of manufacturing jobs. Good riddance, they said, to these "old
economy"
jobs. The "new economy" would bring better and higher paying jobs in
technical and professional services that would free Americans from the
drudgery
of factory work.
So far, these jobs haven't shown up, and if they do, most will be
susceptible to
offshoring, just like the manufacturing jobs.
The Bush administration has in mind a total rebate of
$150,000,000,000. As the
government's budget is already in deficit, the money will have to be
borrowed.
As the US saving rate is about zero, the money will have to be
borrowed abroad.
Foreigners are already concerned about the US government's
indebtedness, and foreigners
are bailing out some of our most important banks and Wall Street firms
that foolishly
invested in subprime derivatives.
Under pressure from budget and trade deficits, the US dollar has been
losing value
against other traded currencies. Having to borrow another $150
billion abroad will
further erode the dollar's value.
Meanwhile, Congress passed a $700 billion "defense" bill so that the
Bush
administration can continue its wars in the Middle East.
Our leaders in Washington are out to lunch. They have no idea of the
real challenges
our country faces and America's dependence on foreign creditors.
The rebate will help Americans reduce their credit card debt.
However, adding $150
billion to an existing federal budget deficit that will be worsened by
recession
could further alarm America's foreign creditors, traders in currency
markets, and
OPEC oil producers. If the rebate loses its punch to consumer debt
reduction, imports,
and pressure on the dollar, what will the government do next?
As long as offshoring continues, the US cannot close its trade
deficit. Offshoring
increases imports and reduces the supply of potential exports. With
Washington's
Middle East wars, with private companies ceasing to provide health
coverage and
pensions, with political spending promises in an election year, and
with recession,
the outlook for the federal budget deficit is dismal as well.
The US is moving into a situation in which the government could find
it impossible
to close the twin deficits without massive tariffs to curtail imports
and offshoring
and without pursuing peace instead of war. The outlook for the United
States will
continue to worsen as long as hegemonic superpower and free trade
delusions prevail
in Washington.
COPYRIGHT CREATORS SYNDICATE, INC.
Paul Craig Roberts [email him] was Assistant Secretary of the Treasury
in the Reagan
Administration. He is the author of Supply-Side Revolution : An
Insider's Account
of Policymaking in Washington; Alienation and the Soviet Economy and
Meltdown:
Inside the Soviet Economy, and is the co-author with Lawrence M.
Stratton of The
Tyranny of Good Intentions : How Prosecutors and Bureaucrats Are
Trampling the Constitution
in the Name of Justice. Click here for Peter Brimelow's Forbes
Magazine interview
with Roberts about the recent epidemic of prosecutorial misconduct.
The articles on VDARE.com are brought to you by the VDARE Foundation.
We are supported
by generous donations from our readers. Contributions are tax
deductible and appreciated.
Contribute...
[ Home ] [ Up ] [ Why VDARE.com / The White Doe? ] [ FAQ ] [ Blog ]
[ e-Bulletins
] [ Contact Us ] [ VDARE.com People Pages ] [ Links ] [ Search ]
[ Blog Search ]
[ Archive ] [ Letters ] [ The VDARE Foundation ] [ Make A Tax-
Deductible Contribution
]
RSS 2.0 Feed...
Copyright (c) 1999 - 2008 VDARE.com
patrick.f...@usdoj.gov, model...@sbcglobal.net,
jdr...@nejm.org, let...@courant.com, Jgerb...@cdc.gov,
len...@courant.com, michae...@po.state.ct.us,
con...@po.state.ct.us, executiv...@nytimes.com, managing-
edi...@nytimes.com, news...@nytimes.com, the-...@nytimes.com,
biz...@nytimes.com, for...@nytimes.com, me...@nytimes.com,
nati...@nytimes.com, dv...@cdc.gov, brigidc...@optonline.net,
tr...@hotmail.com, ubi...@courant.com, ma...@concentric.net,
camp...@courant.com, jhorn...@fff.org, thomas...@usdoj.gov,
thoma...@po.state.ct.us, kur...@washpost.com,
georg...@washpost.com, hor...@courant.com,
commissi...@po.state.ct.us, cohen...@aol.com,
FalN...@aol.com, brans...@comcast.net, vts...@comcast.net,
o...@po.state.ct.us, da...@davila-dilzer.com,
scott....@po.state.ct.us, govern...@po.state.ct.us,
attorney...@po.state.ct.us, randall...@usdoj.gov
Cc: fra...@ucia.gov, dr-ahma...@president.ir,
eugener...@washpost.com, hor...@courant.com,
bmi...@newstimes.com, tr...@hotmail.com, rast...@aol.com,
billc...@gmail.com, thomas...@usdoj.gov, amcg...@rms-law.com,
rjmu...@aol.com, paulcrai...@yahoo.com,
sidney_b...@yahoo.com, criminal...@usdoj.gov,
karla.d...@usdoj.gov, christophe...@usdoj.gov
Subject: Roberts, Krugman, new tax structure
Date: Jan 21, 2008 2:17 AM
(ROBERTS, below, KRUGMAN on REAGANOMICS, all over the net)
1) I recommend that "non-profits" get an immediate second look. If
they
are research institutions that take free government funds and then
turn around and
patent those items - monopolizing their use and denying their use for
the common
good - they are not non-profits (Yale, Tufts, the Mayo Clinic...).
2) A non-non-profit is Kaiser-Permanente, if they are training MDs at
New York Medical
College, wherein we see Russian bioweapons defectors publishing
garbage on behalf
of their government and private supporters:
http://www.actionlyme.org/BOGUS_RUSSIAN_NYMC_ARTICLES.htm
In the above link is a link (Number 6) where we see Russian scientists
at NYMC stating
that the intracellular spirochetes, and the cyst form or dormant form
are not intracellular,
while at the same time, all the crooks have referenced the URIN report
where they
acknowledge that the dormant form reverts to intact spirochetes within
one minute
of rabbit blood.
That means intracellular spirochetes are protected from ceftriaxone,
as explained
by CDC officer Mark Klempner:
http://www.actionlyme.org/KLEMPNER.htm
"Lyme Disease" is all one big lie, and Kaiser is central to it.
Kaiser and the patent profiteers.
Kaiser is training MDs at New York Medical College, and supplying the
New York Medical
board with their perjuring "experts:"
http://www.actionlyme.org/JUNE_13_2005_LETTER_TO_SPITZER.htm
New York's AG Cuomo is looking at whether offshoring students brings
worthwhile
education, when he should be looking at whether Kaiser-trained MDs is
a worthwhile
education, especially when such outrageous lies as "Lyme Disease,"-
the
disease which is so terrible we needed to rush through two vaccine
trials for it,
while at the same time stating that Lyme is easily diagnosed and cured
in, miraculously,
shorter and shorter Rx'd lengths of antibiotic treatment.
Under scrutiny for this nonsense, the Kaiser crooks scream,
"ANTIBIOTIC RESISTANCE
IS DANGEROUS!!"
Wherein, we scream, "THEN TAKE IT OUT OF ANIMAL FEED, since the SWINE
LAGOONS
are the biggest breeders of antibiotic resistance in the
environment!!!"
http://www.ncbi.nlm.nih.gov/sites/entrez?Db=pubmed&Cmd=DetailsSearch&Term=(%22swine%22%5BMeSH+Terms%5D+OR+(%22sus+scrofa%22%5BTIAB%5D+NOT+Medline%5BSB%5D)+OR+%22sus+scrofa%22%5BMeSH+Terms%5D+OR+swine%5BText+Word%5D)+AND+lagoons%5BAll+Fields%5D+AND+(%22microbial+drug+resistance%22%5BText+Word%5D+OR+%22drug+resistance,+microbial%22%5BMeSH+Terms%5D+OR+antibiotic+resistance%5BText+Word%5D)&WebEnv=0R5LSaHkmxRKvntovwntBSVcxSvttgcowZm8HNITwTmK9c1NNKDfvixcb7NPqd-7z67Bf-HYg5S-cJ%4025631EEC6FE066A0_0067SID&WebEnvRq=1
Besides, why would Lyme victims be singled out as the perps behind
antibiotic resistance
when we all know we can't sneeze Lyme onto other people? The
mechanism of antibiotic
resistance is that bugs transfer efflux pumps genes between other
organism, so we
wonder, are Lyme victims expected to believe we're such walking
laboratories
of disease, that our bugs pool somewhere inside of each of us and do
the gene swap
thang?
If so, where is this pool, and why can't the crooks perform
swinelagoon-ectomies
on us? We will be all too happy to have a simple procedure where the
little labs
inside us are removed.
3) KAISER, et al is influencing treatment "guidelines."
*All* of the insurance companies deploy the non-scientist, psychiatry,
to determine
we're all fakers.
This is "a FRAUD on the government," easily proven by the Lyme crooks
own published scientifically valid markers of disease:
http://www.actionlyme.org/BIOMARKERS2.htm
4) http://www.AHRQ.gov That's a dot guv? Look who is on the advisor
list.
People trained by BigInsurance or BigPharma, or who *ARE* BigInsurance
or BigPharma.
Get rid of it. They're not real scientists. We don't need
politicians
re-barfing up this research garbage and calling it dot guv endorsed
"expertise."
5) BIGPHARMA is hiding bad drug data and have been doing so for
years. It ought
to be charged as FRAUD. Especially if they are charging Medicare/
Medicaid for these
non-drugs, especially psychotropics, which are known to wreck further
people with
real neurologic disease.
No psych drug to my knowledge ever held a trial on any set of "crazy"
people, wherein all the scientifically valid markers of known diseases
processes
have been ruled out, especially in brain-disintegrating diseases like
autism and
schizophrenia (the Alzheimer's-like dementia kind; there are 4
different kinds).
This, too, is FRAUD.
6) BIGPHARMA builds wildly large new plants and then writes that down
as a tax deduction,
100%. For example: take a look at Pfizer. They took down all their
manufacturing
and completely rebuilt it in Groton. All new, state of the art,
batch synthesis.
Amazing high tech drug manufacturing. Just a few years later, they
are shutting
the whole thing down and manufacturing off shore. Puerto Rico,
Riggaskiddy Ireland,
etc.
Then they build a 100 million dollar new Central Research Building
smack in the
middle of the campus between the service labs and the old Bldg 118
Central Research.
They paid no taxes re that investment, either.
Number One BigPharma pays no taxes? And so much of it is redundant
nonsense?
If the FDA claims they don't have the money or time to be the FDA,
then fine,
by all means, get rid of it. We seem to find out about all the
terrible drugs via
independent law firms anyway. Why are we dumping tax money into
entities like the
NIH, CDC, and the FDA when they're all well known to be either idiots
or insider
investor biotech profiteers?
Start taxing them all immediately at 33% off the top, no deductions,
and start DOJ
investigations as a replacement for the FDA we thought we were paying
for.
This will dump relatively real dollars into the IRS. In the case of
the fake non-profits,
like Yale and Kaiser, they have really real assets like investments in
oil and timber.
That's just the medical field. The other three wings of US Corporate
Fraud and
global monopolies where fraudware are in engineered seeds, military-
tech, and BigOil.
The MILITARY?
Such paranoia is not my expertise, but clearly there are enough ex-
military and
intelligence agents who could point the finger at fraud and waste, not
the least
of which was what happened on 911.
SOMEONE pulled those WTC buildings, and they were given access by
Silverstein Properties.
I have no expertise on what happened to the Pentagon or in
Pennsylvania.
I have no expertise on who is selling what nuclear secrets to Turks
and the Pakistani
ISI.
OIL COMPANIES?
Impeach Cheney and get the information on who knew Iraq would be
attacked and divvied
up. The facts were being fixed around the policy. Plame was outed to
discredit
the truth about fake Niger forgery. The Turk/AIPAC/ISI spy network
was allegedly
warned to stay away from Plame's front company:
http://www.timesonline.co.uk/tol/news/world/us_and_americas/article3216737.ece
If Bush Senior's Carlyle Group companies got contracts related to Iraq
and Afghanistan,
by all means, let's have a look at when who got what contract.
If Iran is hiding an underground nuke facility, by all means, let's
see that
HAARP earth tomogram.
Kidnap and render to Guantanamo the Halliburton execs who now call
Dubai home.
Torture out of them details of Making War With Dick.
Take their properties; all assets. Use this equipment and capital to
build new
US New Energy Infrastructure.
The debacle of 20 years of Reagan-Bush-BushII, incompetent "DHHS" and
other "agencies," and the Israeli spooks, demands restitution.
Nevermind this new Bushie 800 "dollars" re-run of the Rockefeller Dime-
Chuck.
Nevermind the Faith-Based distractions.
If we can't find any US lawyers with the balls to take down these
corporate
crooks, let's import some from Pakistan.
KMDickson
===========================
VDARE.COM - http://vdare.com/roberts/080120_stimulus.htm
January 20, 2008
Bush To Abandon Supply-Side Economics?
By Paul Craig Roberts
With his tax rebate policy, President Bush has put economic policy
back on a Keynesian
basis. Will it work?
During the two decades it was in effect, supply-side economics had
restorative effects
on the American economy. Its predecessor, Keynesian demand
management, stimulated
demand more than supply. Consequently, over time the trade-offs
between employment
and inflation worsened, and for a while it appeared that inflation and
unemployment
would rise together. The breakdown of the Keynesian policy opened the
door for
the Reagan administration's supply-side approach.
By following Nobel economist Robert Mundell's advice to "reverse the
policy
mix," the supply-side policy allowed the US economy to grow without
paying
for the growth with rising rates of inflation. However, the new
macroeconomic policy
was not a cure-all, and its success in banishing worsening "Philips
curve"
trade-offs between inflation and employment masked the appearance of
new problems,
such as the loss of jobs and GDP growth to offshoring, problems from
deregulation,
and the growing concentration of income in fewer hands.
The Bush administration is turning to tax rebates, because problems in
the financial
system and the amount of consumer debt hinder the Federal Reserve's
ability to pump
money to consumers through the banking system. Like an easy credit,
low interest
rate policy, the purpose of a tax rebate is to put money in consumers'
hands in
order to boost consumer demand.
Will consumers spend the rebate, or will they use it to pay down their
debts? If
they spend the rebate on consumer goods, will it provide much boost to
the economy?
Many Americans are overloaded with debt and will have to use the
rebate to pay down
credit card debt. The gift of $800 per means-tested taxpayer is really
just a partial
bailout of heavily indebted consumers and credit card companies.
The percentage of the rebate that survives debt reduction will be
further drained
of effect by Americans' dependency on imports. According to reports,
70% of the
goods on Wal-Mart shelves are made in China. During 2006, Americans
spent $1,861,380,000,000
on imported goods, that is, 23% of total personal consumption
expenditures were
spent on imports (including offshored goods). This means that between
one-fifth
and one-fourth of new consumption expenditures will stimulate foreign
economies.
Americans worry about their dependency on imported energy, but the
$145,368,000,000
paid to OPEC in 2006 is a small part of the total import bill.
Americans imported
$602,539,000,000 in industrial supplies and materials;
$418,271,000,000 in capital
goods; $256,660,000,000 in automotive vehicles, parts and engines;
$423,973,000,000
in manufactured consumer goods; and $74,937,000,000 in foods, feeds
and beverages.
The Keynesian policy of driving the economy through consumer demand
was applied
to a different economy than the one we have today. In those days the
goods Americans
purchased, such as cars and appliances, were mainly made in America.
Construction
workers were not illegals sending their wages back to Mexico. The US
had a robust
manufacturing workforce. When consumer demand weakened, companies
would reduce
their output and lay off workers. Government policymakers would
respond to the
decline in employment and output with monetary and fiscal policies
that boosted
consumer demand. As consumer spending picked up, companies would call
back the laid
off workers in order to increase output to meet the rising demand.
Today Americans are losing jobs for reasons that have nothing to do
with recession.
They are losing their jobs to offshoring and to foreigners brought in
on work visas.
Today many American brands are produced offshore in whole or part with
foreign labor
and imported to the US for sale in the American market. In 2007,
prior to the onset
of the 2008 recession, 217,000 manufacturing jobs were lost. The US
now has fewer
manufacturing jobs than it had in 1950 when the population was half
the current
size.
US job growth in the 21st century has been confined to low-pay
domestic services.
During 2007, waitresses and bartenders, health care and social
assistance, and wholesale
and retail trade, transportation and utilities accounted for 91% of
new private
sector jobs.
When a population drowning in debt is hit with unemployment from
recession on top
of unemployment from offshoring, will the people spend their rebates
in eating places
and bars, thus boosting employment among waitresses and bartenders?
Will they spend
their rebates in shopping malls, thus boosting employment for retail
clerks? If
they become ill, the lack of medical insurance will direct their
rebates to doctors'
bills.
Economists and other shills for globalism told Americans not to worry
about the
loss of manufacturing jobs. Good riddance, they said, to these "old
economy"
jobs. The "new economy" would bring better and higher paying jobs in
technical and professional services that would free Americans from the
drudgery
of factory work.
So far, these jobs haven't shown up, and if they do, most will be
susceptible to
offshoring, just like the manufacturing jobs.
The Bush administration has in mind a total rebate of
$150,000,000,000. As the
government's budget is already in deficit, the money will have to be
borrowed.
As the US saving rate is about zero, the money will have to be
borrowed abroad.
Foreigners are already concerned about the US government's
indebtedness, and foreigners
are bailing out some of our most important banks and Wall Street firms
that foolishly
invested in subprime derivatives.
Under pressure from budget and trade deficits, the US dollar has been
losing value
against other traded currencies. Having to borrow another $150
billion abroad will
further erode the dollar's value.
Meanwhile, Congress passed a $700 billion "defense" bill so that the
Bush
administration can continue its wars in the Middle East.
Our leaders in Washington are out to lunch. They have no idea of the
real challenges
our country faces and America's dependence on foreign creditors.
The rebate will help Americans reduce their credit card debt.
However, adding $150
billion to an existing federal budget deficit that will be worsened by
recession
could further alarm America's foreign creditors, traders in currency
markets, and
OPEC oil producers. If the rebate loses its punch to consumer debt
reduction, imports,
and pressure on the dollar, what will the government do next?
As long as offshoring continues, the US cannot close its trade
deficit. Offshoring
increases imports and reduces the supply of potential exports. With
Washington's
Middle East wars, with private companies ceasing to provide health
coverage and
pensions, with political spending promises in an election year, and
with recession,
the outlook for the federal budget deficit is dismal as well.
The US is moving into a situation in which the government could find
it impossible
to close the twin deficits without massive tariffs to curtail imports
and offshoring
and without pursuing peace instead of war. The outlook for the United
States will
continue to worsen as long as hegemonic superpower and free trade
delusions prevail
in Washington.
COPYRIGHT CREATORS SYNDICATE, INC.
Paul Craig Roberts [email him] was Assistant Secretary of the Treasury
in the Reagan
Administration. He is the author of Supply-Side Revolution : An
Insider's Account
of Policymaking in Washington; Alienation and the Soviet Economy and
Meltdown:
Inside the Soviet Economy, and is the co-author with Lawrence M.
Stratton of The
Tyranny of Good Intentions : How Prosecutors and Bureaucrats Are
Trampling the Constitution
in the Name of Justice. Click here for Peter Brimelow's Forbes
Magazine interview
with Roberts about the recent epidemic of prosecutorial misconduct.
The articles on VDARE.com are brought to you by the VDARE Foundation.
We are supported
by generous donations from our readers. Contributions are tax
deductible and appreciated.
Contribute...
[ Home ] [ Up ] [ Why VDARE.com / The White Doe? ] [ FAQ ] [ Blog ]
[ e-Bulletins
] [ Contact Us ] [ VDARE.com People Pages ] [ Links ] [ Search ]
[ Blog Search ]
[ Archive ] [ Letters ] [ The VDARE Foundation ] [ Make A Tax-
Deductible Contribution
]
RSS 2.0 Feed...
Copyright (c) 1999 - 2008 VDARE.com
Reply all
Reply to author
Forward
0 new messages