God's partner renders unto... well, the US justice system for a bribery charge.
This is a bit glib - Greg Mankiw declares that we are all supply-siders but I think as a start we need comparisons of per-capita GDP growth under different tax regimes to complete the case.
Health insurance mandates unconstitutional? What gets priority, the Constitution or God's partner? [No Sale from J Adler of the Volokhs.]
SATURDAY EVENING:
From the Times: Critics Driven by Racial Bias, Paterson Says
Nonsense - it's because he's handicapped.
Ignatz - I pray you are correct.
Now for something completely different, OT, from Joe Buzz on Belmont Club:
HEY…. anybody want to help me start a company selling polar shift offsets? We can provide folks with something real, something substantial, something they can carry around in their pocket, hold in their palm or hang from their necks(recycled refrigerator magnets complete with instructions on how to keep them properly oriented for maximum offset affect). Anybody know a wildlife biologist that could gin up a big paper explaining that Canada geese have quit migrating because they have sensed the pending pole shift. We need some real science to get these magnet sales rolling!! Who finds the idea attractive?
Posted by: Frau Quatsch | August 22, 2009 at 04:37 PM
Hot--dang it..you're right.
Posted by: clarice | August 22, 2009 at 04:38 PM
I sorta saw it coming with DoT. Growing up at the beach, I learned to duck under a giant wave and wait for it to pass by.
Posted by: Frau Butterbrot | August 22, 2009 at 04:41 PM
When the poles shift, does that mean all my d-i-l's refrigerator magnets are going to fall to the floor?
Posted by: Sara (Pal2Pal) | August 22, 2009 at 04:46 PM
Frau butterbrot, the fougasse is for dinner tonight--it looks great though.As for the shifting poles, We could start selling picks of water going down the drains the usual way so people can see it before the shift--of course they could always go to Argentina for a preview.
Posted by: clarice | August 22, 2009 at 04:50 PM
*pics of water*
Hit not "hot"
Man, I;m tired from cooking all day.
Posted by: clarice | August 22, 2009 at 04:56 PM
Clarice:
Hit not "hot"
Not that I disagree with that assessment of my physical appearance, but, did you have to go and tell everyone?
Posted by: hit and run | August 22, 2009 at 05:06 PM
I'm lying of course cause I'm getting to old to mud wrestle all the wymans here for you, Hit.
Posted by: clarice | August 22, 2009 at 05:09 PM
http://hotair.com/archives/2009/08/22/video-marine-goes-nuclear-on-democrat-over-obamacare/>You have got to watch this video. And if you aren't standing and cheering with him, well, I just hope it is because you are unable to stand up.
Posted by: Sue The Bastard | August 22, 2009 at 05:14 PM
I'm getting to old to mud wrestle all the wymans here for you, Hit.
Hah!The old "briar patch" ruse. This is the woman with the D.C. pike concession.
Posted by: Frau Butterbrot | August 22, 2009 at 05:45 PM
Naturally, Frau. Michelle's too busy with the produce stuff to sell pikes though looking at her face and body language lately I am getting the impression she wants oine of my pikes and she knows where she wants to shove it. (Don't you think she looks very angry?)
Posted by: clarice | August 22, 2009 at 05:48 PM
Sue, Brian Baird (D-WA) gets lots of support from KozKidz netrooters. A Baird defender blogged in major projectionist mode:
"There is a place for dissent in our democracy. A loyal, vocal opposition keeps the majority honest. However, shouting down members of Congress and engaging in unruly behavior and painting swastikas on their office signs is not democracy. It’s mob behavior, criminal in some cases, and has no place in a civilized society.
To be clear, teabaggers and deathers are not looking for reform. They’re trying to subvert democracy by turning town halls into chaos. They’re not interested in civilized conversation that leads to compromise and better public policy. They want more of the same fearmongering and inaction on the most important issues that we’ve had for the last eight years." Ken Camp of Northwest Progressive Institute Advocate (The Advocate is authored by the staff of the Northwest Progressive Institute, a strategy center fighting to restore the American promise.)
Teabaggers, Birthers and now Deathers! How many hats can a dissenter wear?
American promise = Soros's promise of his Open Society. Pfui!
Posted by: Frau Butterbrot | August 22, 2009 at 05:49 PM
George Society's Open Sore.
Posted by: PeterUK | August 22, 2009 at 05:58 PM
What the hell is wrong with the New York Yankees?
They just gave up another homerun.
Posted by: RichatUF | August 22, 2009 at 06:02 PM
I can testify that Hit is hot.
Posted by: bad s##t | August 22, 2009 at 06:03 PM
Geez, Frau, that's a whole lotta lyin goin on in one paragraph.
Posted by: Pofarmer | August 22, 2009 at 06:09 PM
This does illustrate a pattern in the media
coverage of protesters and ethical/legal controversies, a legacy of the Alinskyite
pattern, demonize the person, not the institution, we've seen this done all too frequently. That Steyn Hewitt podcast casts
a humorous angle on it.
Posted by: the bishop | August 22, 2009 at 06:09 PM
AS Breitbart says(and Rush has elaborated on) you can tell who are the truly effective leaders, by the venom of the opponents, such is the example of veteran anti globalist, one time Sadr fan, Naomi Klein, in her one year anniversary of Sarah's selection as VP for the progressive. It illustrates the Sorosphere
mindset to a tee:
Posted by: the bishop | August 22, 2009 at 06:18 PM
Sue, I'm totally in love with that Marine. Mr. bad and I were cheering him on and fist pumping during that video.
That needs to played on the news channels.
Posted by: bad s##t | August 22, 2009 at 06:19 PM
bad s##t (did I tell you I love that, btw?),
Absolutely. One commenter at Hot Air said it succinctly...the Marines have landed.
Posted by: Sue The Bastard | August 22, 2009 at 06:25 PM
Yes, Clarice, there's not much of a sunny disposition to our FLOTUS (fennel-lettuce-onions-tomatoes unlicensed salesperson), Shelly of Shady Acres.
Teabaggers, Birthers and now Deathers! How many hats can a dissenter wear, I ask? It all comes under the umbrella of the Dissenting Mob. Venn diagrams, please.
Posted by: Frau Butterbrot | August 22, 2009 at 06:28 PM
bishop - Ewww, how do I clean my eyes after reading Naomi's dump? Who let this Canadian leftist in the country?
PUK - your words fit Uncle Soros's sorry face. Unfortunately, it's a face of nightmares and a record to match.
Posted by: Frau Butterbrot | August 22, 2009 at 06:41 PM
As long as Kruathammer talks up wet dishrags like Pawlenty and Romney, while dismissing Sarah Palin, I ain't gonna be thinking much of his acumen in general.
Me neither.
In a real life-and-death fight, anyone would support an ally who's been stabbed, shot, and, still dripping blood, hangs on to help take on the enemy. It would be inconceivable to turn one's nose up on such a fellow warrior.
So it's obviously not a real fight to these snooty, pompous assholes (Lowry, Bainbridge, Krauthammer, Noonan, and on and on). Just a parlor game.
Posted by: Extraneus | August 22, 2009 at 06:43 PM
bad s##t - thanks for the video recommendation. Woo Hoo! We can always count on the Marines!
Posted by: centralcal | August 22, 2009 at 06:43 PM
Naomi Klein isn't cracking any empty nuts. The usual upper class lefty.
Posted by: PeterUK | August 22, 2009 at 06:49 PM
I can't believe the people the "pro Obamacare" people send to defend it. Right now on Fox, the good lady doctor defending it is telling us she doesn't believe what we are saying are our fears about Obamacare.
Posted by: Sue The Bastard | August 22, 2009 at 06:56 PM
They’re not interested in civilized conversation that leads to compromise and better public policy.
I'll just note that to a leftist, better policy always = more govt.
Posted by: Pofarmer | August 22, 2009 at 07:03 PM
Speaking of Mankiw (well, TM was) - he pointed me to this Atlantic article on health care.
Can anyone reconcile these two quotes?
If the amount we spend on care had grown only at the general rate of inflation since 1970, annual health-care costs now would be roughly $5,000 less per American
v
The average insured American and the average uninsured American spend very similar amounts of their own money on health care each year—$654 and $583, respectively. But they spend wildly different amounts of other people’s money—$3,809 and $1,103, respectively.
...
How could holding the rate of increase to inflation result in a per capita savings of $5,000 if the average spending of an insured person is only $4,463 (and the average spending of an uninsured person is less)?
Posted by: bgates | August 22, 2009 at 07:05 PM
--Can anyone reconcile these two quotes?--
Perhaps the first was referring to all Americans including those on medicare and medicaid while the second was only referring to private insureds vs uninsureds?
Posted by: Ignatz | August 22, 2009 at 07:12 PM
Right now on Fox, the good lady doctor defending it is telling us she doesn't believe what we are saying are our fears about Obamacare.
A symptom of someone who believes they know what's best for us.
Posted by: Rob Crawford | August 22, 2009 at 07:15 PM
bgates,
I believe it's a trivial matter of taking the 105th root of $537 and then subtracting the mean pop. density / per sq km to infinity. I misplaced my slide rule, so I'm afraid I can't do the ciphering myself straight away.
Posted by: PaulL | August 22, 2009 at 07:18 PM
Rob,
She actually said we weren't afraid of government take over of our healthcare, we weren't afraid of higher taxes, etc., what we were really afraid of was losing our jobs and not having healthcare. That's it. Her argument.
Posted by: Sue The Bastard | August 22, 2009 at 07:48 PM
May have been linked already but here is Iowahawk's riff on the Barry and God partnership.
Posted by: Ignatz | August 22, 2009 at 07:53 PM
Perhaps the first ...
Maybe.
I don't want to give anyone the impression that that one inscrutable bit is representative of the whole article. It's actually quite good. The author mentions up front that he's a Democrat, but in terms of this issue he comes across as some kind of free-market Moby - "I'm a lifelong Democrat, but the growth of health care expenditures is caused by private actors responding to incentives set up by poorly thought out regulation, so establishing a giant new entitlement won't work."
He slips into a bit of the mandate fetish so typical of Democrats - anything worth doing is worth using the threat of jail time to force other people to do - but quite a lot of it is sound.
Posted by: bgates | August 22, 2009 at 07:55 PM
Iowahawk: U.S. Government Unveils Health Care Partnership With God Inc.
Posted by: Extraneus | August 22, 2009 at 07:59 PM
You beat me to it, Ig.
Posted by: Extraneus | August 22, 2009 at 08:01 PM
Jennifer Rubin who is on vacation (and sorely missed, I might add), sends a report from her travels:
We miss you Jennifer! But, the reporting is excellent as always!
Posted by: centralcal | August 22, 2009 at 08:02 PM
Thanks for that report from Rubin, centralcal. I think she's right and we know the MSM loves a bandwagon. Still, there is plenty to worry about. People do ugly things when they're desperate.
Posted by: Porchlight | August 22, 2009 at 08:20 PM
CC: I think Jennifer is so astute. Think about it, this downward spiral started to break hard when Obama showed his "race face" with the Professor and the Cop. Normal folks got a slap in the face. Some literati backed off, too. He is not the magnificent cool leader he told the electorate he was. Then you add his disdain for we the people when we actually started voicing our rights in the townhalls--on the stimulus, car co. takeover/bank bailouts, out of control drain of tax money for trips for dems, but denial of funds for republican mailouts. And to add the cherry on top--Obamacare. His lies cannot be ignored. It is not just Rush or Sarah, anymore. It is the wonderful mob, of which I am a part!
Posted by: glenda | August 22, 2009 at 08:26 PM
"What has coalesced, it seems, over the past week is the perception that Obama is angry, panicky, and without a game plan, and that his critics no longer cower."
What has changed is,people are laughing at him. Once a leader becomes a figure of ridicule,that leader is finished.
Posted by: PeterUK | August 22, 2009 at 08:40 PM
Don't forget we are *all* sore losers on this bus, The Dissenters' Express.
Why do I keep thinking Uncle Soros has found his spiritual son in Barry? I see both as rootless, devoid of familial love/devotion, lacking love of a country (or countries, even) and consumed by enormous self-love and delusions of grandeur ending in god-like abilities.
Yes, Barry is angry. No one told him he would have to be in the Oval Office once in a while. He is out of touch because he was never in touch.
Posted by: Frau Butterbrot | August 22, 2009 at 08:40 PM
Critics Driven by Racial Bias, Paterson Says
We're not opposed to blacks in government, we want government in the black (not trillions in the red).
We have no problems with black males, but we hate blackmail ("I'm the only thing between you and the pitchforks", "our economy might never recover" unless Obama's bills are passed unread, etc).
What races are we biased against?
The race to pass laws before the people can read them
The race to spend money we don't have
The race to demonize anyone who disagrees with the government
Posted by: bgates | August 22, 2009 at 08:41 PM
It is the wonderful mob, of which I am a part!
Amen, Glenda and dittoes!!!
Jennifer does make one muse . . . if more of the "beltway" took vacations somewhere besides just across the county line, if they wouldn't be more afraid for their boy wonder.
Posted by: centralcal | August 22, 2009 at 08:42 PM
bgates, amen.
Posted by: Frau Butterbrot | August 22, 2009 at 08:43 PM
Did you see this Marine tear Rep. Baird (D-WA) a new one?
http://www.youtube.com/watch?v=_rRE5UK6NQU&eurl=http%3A%2F%2Face.mu.nu%2F&feature=player_embedded
Posted by: ben | August 22, 2009 at 08:46 PM
The upside (yes, there is one) of the Obama regime is that he demonstrates to the vast majority of ordinary people who are not really paying attention what truly insular, humorless, arrogant and fundamentally clueless people the academic left are. (I know, I withstood 7 years of indoctrination at a couple of our leading institutions of liberal arts). Once the muddle starts to understand that the MSM consists of people of the same club--one that doesn't think much of them, doesn't think like them, and, when you get right down to it, doesn't really like them--things can and will change.
The Republicans have not previously been able to get traction because they've been successfully portrayed as cartoons by the MSM. Now that the muddle has to pay attention to what's really happening (barring some sort of major game-changer) I'm not certain that Barry or the Dems can reverse the trend. They can't change who they are (Hint--Bill Clinton wasn't really one of them).
Posted by: Boatbuilder | August 22, 2009 at 08:48 PM
Whoops, I see the video is already mentioned above.....but its worth seeing twice.
Posted by: ben | August 22, 2009 at 08:48 PM
What could go wrong?
Posted by: Sara (Pal2Pal) | August 22, 2009 at 08:54 PM
If the Republicans were smart...which they are not.
They should found the PRIVATE CHARITY:
THE TED KENNEDY HEALTHCARE FUND FOR THE NEEDY.
Then ask Pelosi, Reid, Obama, Frank, Feingold, Feinstein, Weiner, and the rest to donate at least 10 percent of the annual income and 50% of their book royalties to go to voluntarily pay for healthcare for poor people.
Then ask President Obama to ask his 50 Million voters to give 5% of their income and you have completely solved paying for the uninsured who can't afford healthcare.
This could be done in a weekend and a one page document and noone has to lose any freedoms.
Posted by: Pops | August 22, 2009 at 08:56 PM
Rule 12, is a bummer when it boomerangs on you, huh, it's no fun anymore. That's the difference between this August and last, the turning point, that caused him to 'wee wee' in reflection. You know thatCongressman
Baird isn't one of the netroots favorites, he's caught grief over support for Iraq among other issues. But Mr. hedrick(USMC) proves the old line, about dog food, when regards to this pathetic plan. I got a catch in my throat when I saw it.
Posted by: the bishop | August 22, 2009 at 08:57 PM
ben,
I watched it 4 times.
Posted by: Sue The Bastard | August 22, 2009 at 09:04 PM
((There is something badly amiss when we are told that checks must be held up until the paper work is done correctly, yet no one cares whether the bill to authorize the programs,in the first place,are done correctly.))
From Pagar @12:57...about cash for clunkers...SO TRUE. Along the same line, I'm always wondering why I've got to obey a law that the guy that passed it hasn't even read.
If congress doesn't know what the bill says, do we have to obey it?
Posted by: Janet | August 22, 2009 at 09:22 PM
I think the best quote to explain the left obsession with passion for nationalize health comes from one of my favorite TV series “Yes, Minister” The episode name Compassionate Society. The minister, Jim Hacker (Paul Eddington) is upset that a new hospital has no patients. He argued the point of a hospital was to heal the sick. Sir Humphrey Appleby (Nigel Hawthorne) tells the minister that not the point of NHS. It is to make people feel better about themselves for helping the poor.
Posted by: Mark from Houston | August 22, 2009 at 09:38 PM
"If congress doesn't know what the bill says, do we have to obey it?"
Once you jump off the cliff its hard to stop falling. While most Democrats don't know what's in the bill, they know that it leads to bigger government and bigger bureaucracies and less free enterprise, and that is what they deem important.
Posted by: ben | August 22, 2009 at 09:47 PM
Mark from Houston... Hello, neighbor! :)
Posted by: glenda | August 22, 2009 at 09:56 PM
Mark from Houston, great illustration. The left (especially squishy liberals) will not be detached from the idea that universal health care is an intrinsic good, because they live to feel good about themselves. Any little quibble about loss of liberty or the overwhelming cost of the damn thing is just a "detail." How does one argue with this?
Posted by: Porchlight | August 22, 2009 at 10:09 PM
I want to mention again what magnificent people we have at the Carolinas Rehabilitation Center and at the High Point Regional Hospital. When I hear our pres. speaking of their cohorts profiteering for tonsillectomy's ...
My son is improving exponentially, his release date has been forwarded 6 days. In time for their 1st anniversity. LUN for their wedding. Don't tell him I told you.
Posted by: StrawmanCometh | August 22, 2009 at 10:14 PM
Awww, Strawman, what a handsome boy you have. I'n so happy to hear he's doing so well. Bless you all and the doctors caring for him.
Posted by: Porchlight | August 22, 2009 at 10:23 PM
That's fantastic, SC.
Posted by: Elliott | August 22, 2009 at 10:25 PM
Strawman,
I loved it! Mums the word, will never tell. And I'm so glad he is improved.
Posted by: Sue The Bastard | August 22, 2009 at 10:28 PM
You are blessed Strawman.
Posted by: bad s##t | August 22, 2009 at 10:29 PM
Oh, SC, that is so great.
And your boy is so handsome. You know I love the handsome boys. :-)
Posted by: MayBee | August 22, 2009 at 10:32 PM
I am indeed. He's got some work to do, but he's all there.
Posted by: StrawmanCometh | August 22, 2009 at 10:38 PM
That's awesome to hear, Strawman.
And...best personal video linked at JOM EVAH!!!
Posted by: hit and run | August 22, 2009 at 10:39 PM
From Pagar @12:57...about cash for clunkers...SO TRUE. Along the same line, I'm always wondering why I've got to obey a law that the guy that passed it hasn't even read.
If congress doesn't know what the bill says, do we have to obey it?
I always figured one of the essential elements of the rule of law was that the law be knowable to the average person. If you cannot tell if you are acting inside the law because the law is written to be opaque, you're at the mercy of the enforcers and interpreters.
I don't think it's arguable whether a body of legislators who pass multi-thousand page bills that have never existed in their final form are involved in the rule of law -- they're not. What that means for the rest of us poor sods is an open question...
Posted by: Rob Crawford | August 22, 2009 at 10:39 PM
What great news, Strawman! And ditto on the handsome...hubba hubba.
Posted by: Ann | August 22, 2009 at 10:43 PM
The left (especially squishy liberals) will not be detached from the idea that universal health care is an intrinsic good, because they live to feel good about themselves. Any little quibble about loss of liberty or the overwhelming cost of the damn thing is just a "detail." How does one argue with this?
You don't argue with it, at the appropriate time you squash em like a bug. They aren't arguing from a position of logic.
Posted by: Pofarmer | August 22, 2009 at 10:45 PM
I don't think it's arguable whether a body of legislators who pass multi-thousand page bills that have never existed in their final form are involved in the rule of law -- they're not. What that means for the rest of us poor sods is an open question...
It's what the second amendment was included for. Removing those in power when those in power don't want to go voluntarily, or, have become so corrupt as a class that they must be diminished to the point they can do no further harm. The hard part ain't throwing the old gaurd out. The hard part is what comes after.
Posted by: Pofarmer | August 22, 2009 at 10:53 PM
The hard part ain't throwing the old gaurd out. The hard part is what comes after.
Yep. Not too many revolutions end well.
Posted by: Rob Crawford | August 22, 2009 at 10:54 PM
Yep. Not too many revolutions end well.
Well, one did, so we have a precedent.
The one in Honduras looks like it's going O.K.
Posted by: Pofarmer | August 22, 2009 at 11:02 PM
off?
Posted by: PD | August 22, 2009 at 11:04 PM
about cash for clunkers
During the Packers game tonight the camera was on some wag in the stands holding up a sign saying "Cash for Clunkers!" above a line showing what the Vikings are paying Favre.
Posted by: PD | August 22, 2009 at 11:06 PM
There was another sign saying "Brett Who?"
Packers fans are normally very loyal. I think these signs indicate how well Mr. Favre's antics have gone over in GB.
Posted by: PD | August 22, 2009 at 11:07 PM
Sorry.
Posted by: Pofarmer | August 22, 2009 at 11:07 PM
PD,
Did you hear RUSH call the death panels "Cash for Caskets"? I thought that was very clever.
Posted by: Ann | August 22, 2009 at 11:21 PM
SC-
Thanks for the vid, there is nothing more revealing than singing for one's supper.
I add my congratulations on his recovery, and my prayers for its pace to hasten.
Posted by: Melinda Romanoff | August 22, 2009 at 11:32 PM
And Po-
We're back in the 50's around here. I hope all is going well.
This "no sleep" stuff is for the birds.
G'Night all.
Posted by: Melinda Romanoff | August 22, 2009 at 11:35 PM
SC - What a wonderful way to end the evening. Thank you for sharing your family.
Posted by: Frau Butterbrot | August 22, 2009 at 11:47 PM
Strawman...many blessings to you all!
Posted by: glenda | August 22, 2009 at 11:47 PM
And Po-
We're back in the 50's around here. I hope all is going well.
This "no sleep" stuff is for the birds.
G'Night all.
Low tonight possibly in the 40's.
Gnight.
Posted by: Pofarmer | August 22, 2009 at 11:53 PM
SC--Hit took the words out of my mouth. Smooches to you all.
Posted by: clarice | August 23, 2009 at 12:08 AM
I recall an SF short story in which a well-run planet had a Board of Dunces consisting of 12 randomly chosen non-lawyer citizens who read each new law. (There was a new board for each new law.) If the Board of Dunces either: a) couldn't understand the law, or; b) couldn't decide unanimously what it meant, the law was considered null and void.
I believe they also had a 1000 law rule (if you wrote a 1001st law, an old one had to be repealed), and a limit on how many words (perhaps 200?) a law could contain.
I could live with that, I think.
Posted by: JorgXMcKie | August 23, 2009 at 01:08 AM
Strawman, your son and DIL are beautiful and I am thrilled that all is going well. Thanks for letting us share.
Posted by: caro "three arm" crusher | August 23, 2009 at 01:42 AM
Policeman: "Ignorance of the Law is no excuse."
Congressman: "Ignorance of the Law is our excuse."
Posted by: daddy | August 23, 2009 at 03:28 AM
"Policeman: "Ignorance of the Law is no excuse."
Congressman: "Ignorance is our excuse."
Posted by: PeterUK | August 23, 2009 at 08:07 AM
Strawman - thanks for the wonderful start to my Sunday morning! I echo all the others on what a handsome son you have and what a lucky parent you are!
Posted by: centralcal | August 23, 2009 at 08:22 AM
I believe they also had a 1000 law rule (if you wrote a 1001st law, an old one had to be repealed), and a limit on how many words (perhaps 200?) a law could contain.
I've thought for some time that our overlords have such a zeal for enacting laws and regulations that each time they want to enact a new one, it'd be good if they had to repeal one first.
Of course, if such a rule went into effect, you know what the first one to be repealed would be.
Posted by: PD | August 23, 2009 at 10:15 AM
Thanks for fixing that P'UK.
Posted by: daddy | August 23, 2009 at 03:48 PM
"I believe they also had a 1000 law rule (if you wrote a 1001st law, an old one had to be repealed), and a limit on how many words (perhaps 200?) a law could contain."
I always chuckle at that bit in Heroditus when he describes how the ancient Persian Parliament worked. Any decision they made sober, they had to reconvene later, after they were all drunk, and reconsider their decision. If they still felt the same way, then the ruling was abided by. If not, then back to square one.
Conversely, any decision made while drunk, they had to reconvene when sober, and the same rules applied. I'll drink to that.
Posted by: daddy | August 23, 2009 at 03:52 PM
That was an interesting article on the rich and how well the economy is doing. I must be part commie, becasue I def think there is a limit to how rich the rich should get. I think this worship of the rich is silly.
The rich have their place. They are good for investment. However, there comes a point where investment is overdone and the consumption suffers. We seem to have gotten to that point with the inflated real estate and stock market, just like we did in the 1920's.
It seems there is some a natural limit on that, and that's an economic depression. However, I think with tax and financial policy we could cut back on those swings and keep things a little more smooth. We need to figure out exactly where this happy medium between rich and poor lies and try to gear our policies toward it.
Posted by: sylvia | August 24, 2009 at 03:41 PM
One thing I was wondering about. When the real estate prices go up, how exactly does that affect us? Your mortgage payments go up - those go into the financial systems, and the average purchasing power goes down. However, interest rates tend to go down when prices go up, so that mutes that effect a little bit.
Basically it's a transfer of wealth to older people, as they are the ones selling and capitalizing on the price gains. And a transfer of wealth to the wealthy as the more expensive houses rise the most in price. Large holding landlords get the most money.
Some in the middle class win the house price increase lottery, if they happen to live in the right place and sell at the right time.
So although some gain, many more lose. Anyway, I would like to see some economic study on that someday. Must google I suppose.
Posted by: sylvia | August 24, 2009 at 03:48 PM