tag:blogger.com,1999:blog-6616959642391988608.post5444247518717985520..comments2024-03-28T00:18:25.641-07:00Comments on Calafia Beach Pundit: Why capitalism succeeds and redistribution failsScott Grannishttp://www.blogger.com/profile/14028519647946868684noreply@blogger.comBlogger11125tag:blogger.com,1999:blog-6616959642391988608.post-47381947803047054822012-08-01T22:37:23.734-07:002012-08-01T22:37:23.734-07:00Real GDP since 2000 per your charts increased much...Real GDP since 2000 per your charts increased much more than 10%.<br /><br />I just don't understand these articles. How can you talk about redistribution of wealth without talking about the Federal Reserve or the BOC.<br /><br />Why is my savings account earning .85%? So the Federal Reserve can subsidize the banking and industrial sectors. On a MASSIVE scale.<br /><br />Why is consumption inPublic Libraryhttps://www.blogger.com/profile/00017383928897945054noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-64567844197126532512012-08-01T11:11:54.876-07:002012-08-01T11:11:54.876-07:00If you cherry-pick the data, you can prove almost ...If you cherry-pick the data, you can prove almost anything. To begin with, the NYT article only looks at "government consumption expenditures and gross investment," which conveniently ignores the huge increase in transfer payments, which today are at or near their highest level ever relative to GDP. Total federal expenditures today are about 23.5% of GDP, and while that has indeed Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-91113353464910005562012-08-01T10:53:02.783-07:002012-08-01T10:53:02.783-07:00"While Washington debates whether big governm..."While Washington debates whether big government is holding back the economy, it’s worth keeping a couple of facts in mind: Government has been shrinking steadily for two years, and compared to the size of the overall economy, government is actually slightly smaller today than it has been on average in the postwar era."<br /><br />http://economix.blogs.nytimes.com/2012/07/27/Public Libraryhttps://www.blogger.com/profile/00017383928897945054noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-24167352254020410152012-07-31T16:58:00.714-07:002012-07-31T16:58:00.714-07:00djakel,
No, in the context of the article, the Gr...djakel,<br /><br />No, in the context of the article, the Great Recession happened because the government tried to plan the housing market.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-6825379880358679712012-07-31T14:22:44.884-07:002012-07-31T14:22:44.884-07:00Joe--The 2008-09 recession was definitely not caus...Joe--The 2008-09 recession was definitely not caused by "Bush tax-cuts for the uber-rich." Tax revenue was steadily rising from 2003-07. The recession was caused by the bursting of the housing bubble which, in turn was caused by reckless sub-prime lending and reckless derivative creation and trading. The reason that the recovery is so anemic is the enormous debt overhang and 25% of djakelhttps://www.blogger.com/profile/06247798800719389756noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-45565091700034499832012-07-31T14:16:38.131-07:002012-07-31T14:16:38.131-07:00Joe, I would submit that you either failed to read...Joe, I would submit that you either failed to read or failed to understand what Gilder wrote.Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-52837643315760730302012-07-31T13:41:04.696-07:002012-07-31T13:41:04.696-07:00And it could be so obvious, if we only look at the...And it could be so obvious, if we only look at the historical data instead of ideology. Look at the history of how much income and wealth goes to the top 1% (or alternatively corporate profits as % of GDP). Look at how it ran up in the 1920s and 2000s. While the average Joe consumer had less and less, they stayed in the game via credit. In the course of this they had their last hooray in a Joehttps://www.blogger.com/profile/17141887720434208291noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-10423853409506183362012-07-31T12:33:36.315-07:002012-07-31T12:33:36.315-07:00Wow. "Tax cuts for the uber-rich" are t...Wow. "Tax cuts for the uber-rich" are to blame for the great depression and the great recession?! I would love to hear the logic behind that, as it clearly ignores all other variables impacting economic health. This belief clearly serves a left leaning bias and ignores such things as heavy farm subsidies in the 20s and heavy home ownership subsidies and government intervention L.A.https://www.blogger.com/profile/17235323298066514444noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-15011598291724716132012-07-31T12:03:13.894-07:002012-07-31T12:03:13.894-07:00Good article to summarize the benefits of capitali...Good article to summarize the benefits of capitalism, which is, in a nutshell, solving for the most effective use of accumulated (fruits of past labor) capital, on the 100th birthday of Milton Friedman.<br /><br />Sent from my MacBook Prosgt.red.blue.redhttps://www.blogger.com/profile/08132657702786638326noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-55762174814079173872012-07-31T11:55:36.928-07:002012-07-31T11:55:36.928-07:00I am always astonished how otherwise extremely int...I am always astonished how otherwise extremely intelligent people fall for such ideological nonsense. This so obviously flies into the face of reality of recent years - did the author live in alternate univers?<br />With the percentage of income and wealth of the uber-rich at decades-long record highs we should then be in a decades high of prosperity. Instead, we have just seen the worst Joehttps://www.blogger.com/profile/17141887720434208291noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-75836572517775721932012-07-31T11:29:31.938-07:002012-07-31T11:29:31.938-07:00In a free economy the individual has an open road ...In a free economy the individual has an open road to prosperity and he/she does everything possible to get there. In all types of governmental or rules bound organizations like unions the priority of the individual is to keep his/her job and pension and thus they have no incentive to make things better.<br /><br />In the first case productivity and thus prosperity grows; in the second, by NormanBhttps://www.blogger.com/profile/05986709079442388236noreply@blogger.com