I’d like to invite you all to participate in a new segment here on the blog. That’s right, it’s…
Correct Austin’s Economic Ignorance!
In this episode, I’ll question laissez-faire and trickle-down economics, and you can tell me what’s wrong with my speculations.
In “trickle-down” economics, what’s good for the rich is good for everyone. If the rich have more money, they’ll invest in the economy, creating jobs, helping the poor, etc.
But it seems like money always flows “uphill”, from the rich to the poor. The rich have more money than they can spend, and the poor have to spend everything that they make. On the lower end of the income spetrum, 
income matches or exceeds expenses all the time. People live paycheck to paycheck, and when they spend money some of it goes to the other workers living paycheck to paycheck, and some of it goes to the owner of the means of production, who adds it to his money bin.
This system is broken.
The money needs to be forced into circulation, which means higher taxes for the rich. But they shouldn’t care, because the money will come back to them. This isn’t socialism, it’s making capitalism work. Discuss.
Reason #439 Why I Wish I Could Vote for Obama:
Remember Michael Pollan’s article to the future “Farmer-in-chief”? Obama’s already read it:
I was just reading an article in the New York Times by Michael Pollen [sic] about food and the fact that our entire agricultural system is built on cheap oil. As a consequence, our agriculture sector actually is contributing more greenhouse gases than our transportation sector. And in the mean time, it’s creating monocultures that are vulnerable to national security threats, are now vulnerable to sky-high food prices or crashes in food prices, huge swings in commodity prices, and are partly responsible for the explosion in our healthcare costs because they’re contributing to type 2 diabetes, stroke and heart disease, obesity, all the things that are driving our huge explosion in healthcare costs. That’s just one sector of the economy. You think about the same thing is true on transportation. The same thing is true on how we construct our buildings. The same is true across the board.
Davey and Chris have weighed in on the Palin / Couric interview. Davey has also called me out because of my Palin enthusiasm. This is a response to all that… and more. This blog post comes with a guarantee: Everyone who reaches the end of this post will be transformed into an ardent Palin supporter. » Read the rest of this entry «
No surprise here, but Ron Paul predicted Fannie and Freddie five years ago: » Read the rest of this entry «
