This is hilarious. In a good way!
The budget plan of Rep. Paul Ryan (R-Wis.) reduces the safety net for the unemployed to prevent them from living lives of “dependence and complacency, that drains them of their will and incentive to make the most of their lives.”
Oh noes! We CAN’T have that! It would be just terrible.
But while we’re helping all those poor unemployed people live more productive lives, we should also be helping the wealthy too. It isn’t fair to neglect them!
This sounded reasonable:
raise the inheritance tax, so that heirs must work, and the tax on capital gains, so that people who depend on investment income must work. Otherwise [they could fall prey] to increased indolence and reduced incentives to assist the growth of the economy.
Federal Reserve Bank assets and composition
Hover your cursor over the chart for unit time details. I have no profound insights to offer. Do have a look at the growth though!
Chart via DataMarket.com, a very user-friendly and useful service.
This is the original source: U.S. Debt Clock in real time.
It isn’t particularly credible. I know someone who loathes these real-time debt counters, though not this one in particular. She says they are very inaccurate, has even verified it herself. I believe her because she worked in public finance for years. So enjoy it for the lurid red-and-green colors, rather than content. (It really does jump out at you, almost bounces….)
The first post, see the link above, is about the role intended by the President, Congress and everyone else for the Federal Reserve Bank when it was brought into existence in the early 20th century.
After a look-see, you might want to follow that with a glance at this link, describing how a chastened, post-GAO audited, Dodd-Frank reformed Fed could become all it was originally intended to be:
The New Federal Reserve.
Lost in the footnotes
SEC Study on Fiduciary Standard
This is so dense. And lengthy. That’s because most pages have almost no space available for actual text, as the footnotes take it all, extending nearly to the top of each page!
via blog.wellsfargo.com, “Guided by History” website
THIS was not “fiat currency”.
The housing bubble burst brings a huge impact to people who bought the house at a very high price which they are not able to repay their loan. This is a disaster to the mortgage market, but only a few economists foreseen this bubble burst will lead to the Great Depression and furthermore the…
This is reasonably on target economic analysis. Better than most. And I should know, because I used to issue ratings for CDO’s (collateralized debt obligations). In a prior life. Ten years ago.
Plus this Tumblog has some good pictures. I like it, though it isn’t fluffy reading.
But Tumblr is diverse. We welcome the fluffy and the crunchy alike.
First US President to visit a foreign country while president?
Over 100 years after the founding of the U.S.A.
A man, a plan, a canal.
Thus, my children, did Imperialism pull the U.S. out of it’s isolationism.”
via EncycloMundi - live feed:
Happy PRESIDENT’S Day!
Interactive site from the Pew Research Center’s Project for Excellence in Journalism.