Monthly Archives: September 2011

How our monetary system really works

Cullen Roche at PragCap.com has been my teacher on how our monetary system really works.  The school of economic thought is called MMT or Modern Monetary Theory.  I’ve written on the topic, but below is a long comment within one … Continue reading

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This is not a banking crisis

I ran across a PragCap.com article from 2010 describing the real economic crisis we have been experiencing.  Funny that the banks were bailed out when this article so eloquenty makes the case that it is a consumer crisis: When the housing … Continue reading

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The Federal Reserve causes bubbles

The Federal Reserve note only can’t pull us out of this mess, but they caused it.  From John Hussman’s weekly market commentary on Sept 5th: At the point our nation recognizes that the pattern of repeated bubbles, crashes, and misallocation of … Continue reading

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Letter to the Editor, NYTimes re: Krugmen

I just hit send on the following email in response to Paul Krugmen’s op-ed piece about taxing the rich called “The Social Contract”. The Times asks for responses to be 150 words or less, this response is more than double … Continue reading

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Understanding MMT: Why deficits?

Why has our nation run deficits nearly every year? Why has the “debt” gotten so big? If you’ve never heard of MMT or Modern Monetary Theory than you probably still believe the U.S. governement has a “debt” that must be paid … Continue reading

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The American Dream fantasy

Concentration of wealth isn’t in the top 1% it is in the top .05% to .01% or 1 to 5 in 10,000.  According to an anonymous investment advisor to the wealth in this “Who Rules America” article: the American dream … Continue reading

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Death taxes that most shouldn’t care about

Taxes on inheritance have the joyous name of “death taxes”.  The wealthy are very clever at creating scary sounding names for things they want to abolish so that the vast majority of people who don’t benefit from it do the … Continue reading

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Where does money come from?

If you want to get rich, you have to know where money comes from.  Unfortunately the answer is most accurately from someone else. When you get paid a wage, it comes out of your company’s earnings.  Your company is trying … Continue reading

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Don’t go to college

Everyone says you must go to college – after all, study after study proves that college graduates make more money than high school grads or lower.  However, there is an alternative. Today college costs thousands or tens of thousands per year … Continue reading

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For every debtor there is a saver – Not!

The myth that leads to bubbles.  The myth that Bernanke and Greenspan believed, that allowed them to miss the two biggest bubbles in U.S. history….. they believe that for every debtor there is a savor, for every dollar of debt, … Continue reading

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