Wed 2010-07-21 10:26 EDT

Professor Jamie Galbraith's testimony to Deficit Commission | Angry Bear

1. Clouds Over the Work of the Commission. ... 2. Current Deficits and Rising Debt were Caused by the Financial Crisis. ... 3. Future Deficit Projections are Generally Based on Forecasts which Begin by Assuming Full Recovery, but this Assumption is Highly Unrealistic. ... 4. Having Cured the Deficits with an Unrealistic Forecast, CBO Recreates them with Another, Very Different, but Equally Unrealistic Forecast. ... 5. The Only Way to Reduce Public Deficits is to Restore Private Credit. ... 6. Social Security and Medicare "Solvency" is not part of the Commission's Mandate. ... 7. As a Transfer Program, Social Security is Also Irrelevant to Deficit Economics. ... 8. Markets are not calling for Deficit Reduction; Now or Later. ... 9. In Reality, the US Government Spends First & Borrows Later; Public Spending Creates a Demand for Treasuries in the Private Sector. ... 10. The Best Place in History (for this Commission) Would be No Place At All.

Angry Bear; deficit Commission; Professor Jamie Galbraith's testimony.

Tue 2008-10-07 00:00 EDT

Angry Bear: Class War; Appropriateness of the Wealthy's strategy

``the Wealthy are irrational in their strategy in fighting the War of Class and are in fact losing the war for everyone.''

Angry Bear; appropriate; Class War; Wealthy's strategy.

Tue 2008-09-23 00:00 EDT

Angry Bear: Some Thoughts on Bailouts

Angry Bear; Bailout; thought.

Tue 2008-09-02 00:00 EDT

Angry Bear: Real GDP Report

Angry Bear; Real GDP Report.

Tue 2008-08-19 00:00 EDT

Angry Bear: Death of the American Empire?

Nouriel Roubini

American Empire; Angry Bear; death.

Sun 2008-07-20 00:00 EDT

Angry Bear: Soc Sec XXXIII: Medicare Finance

Angry Bear; Medicare Finance; Soc Sec XXXIII.

Sat 2008-07-12 00:00 EDT

Angry Bear: Real Trade Report

"May, 2008 real petroleum imports were down 21% from May, 2007"

Angry Bear; Real Trade Report.

Fri 2008-07-04 00:00 EDT

Angry Bear: Who's your daddy?

James K. Galbraith, collapse of monetarism

Angry Bear; Daddy; s.

Mon 2008-06-30 00:00 EDT

Angry Bear: Broken Clock Day

Thomas Friedman accidentally tells truth: "Since President Bush came to office, our national savings have gone from 6 percent of gross domestic product to 1 percent, and consumer debt has climbed from $8 trillion to $14 trillion."

Angry Bear; Broken Clock Day.

Thu 2008-06-19 00:00 EDT

Angry Bear: The Shrinking of Treehorn

packaged goods makers must raise prices or put less stuff in the package

Angry Bear; shrink; Treehorn.

Thu 2008-06-12 00:00 EDT

Angry Bear: Kudlow's Supply-Side Stupidity: Less Savings = More Investment!

Angry Bear: Kudlow's Supply-Side Stupidity: Less Savings = More Investment!; tax deferral not tax cut unless accompanied by spending cuts

Angry Bear; investment; Kudlow's Supply-Side Stupidity; save.

Fri 2008-06-06 00:00 EDT

Angry Bear: Failed Trade Policy: Confessions from Our Guy Who Negotiated China's Entry into the WTO

"Robert Cassidy, former assistant U.S. trade for Asia and for China, and Bill Clinton's point man in negotiating China's entry into the WTO, now admits the agreement was flawed from the start, benefiting two groups: multinationals that moved to China and financial firms that financed those investments."; "how globalization was designed"

Angry Bear; confessed; Failed Trade Policy; guys; Negotiated China's Entry; WTO.

Tue 2008-06-03 00:00 EDT

Angry Bear: Economics as science? No chance.

Angry Bear; chances; economic; science.

Fri 2008-05-30 00:00 EDT

Angry Bear: Noncurrent loans increase

Angry Bear: US bank's noncurrent loans increase; coverage ratio deteriorating

Angry Bear; Noncurrent loans increase.

Wed 2008-05-21 00:00 EDT

Angry Bear: Social Security Zero: the Basics Revisited & Three Myths

Angry Bear: Social Security Zero: the Basics Revisited & Three Myths

Angry Bear; Basics Revisited; myth; Social Security Zero.

Sat 2008-05-17 00:00 EDT

Angry Bear: Index funds influence

CFTC exempts index funds from position limits

Angry Bear; Index funds influence.

Thu 2008-05-08 00:00 EDT

Angry Bear: Auto Loan and credit card debt bonds?

Fed accepting asset-based bonds as collateral

Angry Bear; auto loans; credit card debt bonds.

Sat 2008-04-12 00:00 EDT

Angry Bear: After the Recession: What then?

"We have to ask: What is it that we can trade? In order to compete globally, we must have something to offer the rest of the world, something to trade"

Angry Bear; Recession.

Wed 2008-03-26 00:00 EDT

Angry Bear: Social Security: Rehashing White House Lies

Angry Bear; Rehashing White House Lies; Social Security.