I.O.U.S.A viewing this weekend on CNN January 9, 2009
Posted by Jeff Nabers in : Health, Money, Personal Enjoyment, Personal Productivity, real estate, Self Directed IRA Solo 401k , add a comment
CNN to Broadcast I.O.U.S.A. | Obama Foresees Trillion-Dollar
Deficits |
A Bipartisan Plea for Fiscal Responsibility | The Government We
Deserve
CNN to Broadcast I.O.U.S.A.
The public has spoken, and we’ve listened. In response to demand
for information about our country’s financial challenges, CNN/U.S.
will air the broadcast premiere of the acclaimed documentary
I.O.U.S.A. on on Saturday, January 10 at 2:00 p.m. EST and on
Sunday, January 11 at 3:00 p.m. EST. Accompanying the documentary
will be an unscripted panel discussion with policy leaders about
various economic solutions currently under consideration.
This exclusive televised event will air only on CNN, and will be
hosted by Ali Velshi and Christine Romans, co-anchors of CNN’s
Your $$$$$, the network’s weekend business roundtable program.
Throughout I.O.U.S.A.’s broadcast premiere, Velshi and Romans will
engage a distinguished group of panelists, including Pete
Peterson, Chairman of the Peter G. Peterson Foundation and former
U.S. Commerce Secretary; Dave Walker, President and CEO of the
Peter G. Peterson Foundation and former U.S. Comptroller General;
Alice Rivlin, noted economist and former Director of the Office of
Management and Budget; and Bill Bradley, a Managing Director of
Allen & Company and former U.S. Senator and Democratic
presidential candidate, in discussions about issues raised in the
film and their ties to current economic events.
Learn more about the film at www.IOUSAtheMovie.com. And be sure to
spread the word about the U.S. broadcast premiere!
Obama Foresees Trillion-Dollar Deficits
CNNMoney.com reported on Tuesday that when President-elect Barack
Obama takes office on January 20, he’ll inherit an economy deeper
in debt than ever.
Obama commented on the unprecedented deficit, saying, (more…)
Asset-based thinking in the real economy October 16, 2008
Posted by Jeff Nabers in : Money, Personal Enjoyment, Precious Metals, real estate, Self Directed IRA Solo 401k , add a comment
I’m reposting some of my thoughts from a blog comment discussion from last week.
I agree with the perspective that our currency should go back to being pegged to gold. This would force individuals, corporations, and governments to play by the same rules of economics. The side effect is that we wouldn’t really have bubbles and manias, there wouldn’t be as much real estate development and expansion (or “economic expansion” in general) because we would have a supply-side cap of money rather than an unlimited amount of money based on lending. We would be an asset-based society that rewards actual success rather than a debt-based society that builds its wealth by taking it from the people.
An asset-based society isn’t really wanted by many people who are wealthy thanks to debt. For instance, if you run a corporation that sells a product that people don’t have a strong desire or necessity for, then in an asset-based society you wouldn’t really sell them. In a debt-based society, people will buy your product using debt – by selling their future time simply because they don’t understand the true ramifications of their decision.
In an asset-based society, it’s much harder to start and run a successful business… the only products and services that will sell well are those that people want so much that they will buy them with their actual money. In a debt-based society, people just have to say “yes” to buy something. The decision itself is the form of payment. Unfortunately, that decision is also the forfeiture of future time in their life that could be spent doing enjoyable activities. Instead, the debt-funded “yes” sayer will be working with their future time because they have to in order to fulfill their “yes” obligations. The same concept applies to debts of government, but it’s the people who will pay the obligations through taxes and inflation.
Keep in mind, being “Pro-Dollar” may be anti-American. American principles include (more…)
What Causes Inflation? (You may be surprised) – Part 1 July 7, 2008
Posted by Jeff Nabers in : Money , 5comments
Some of the most prominent explanations of the cause of inflation can be extremely confusing and often end up leading the reader/inquirer to conclude “Ahh, it’s just too complicated. We can’t really put our finger on it, and there are many different factors.” In this post, I aim to undo that surrender of understanding and replace it with a simple, accurate explanation.
What is inflation?
Inflation is the steady, continual rise in the price of goods. It is typically measured using a “basket of goods”. In this approach, the prices of many different goods are tracked and then integrated using some sort of logical weighting calculation.
The Cause… Theory #1 – Demand-Pull Inflation
“Too much money chasing too few goods”. This is the theory that says inflation is caused by demand out pacing supply. Believers of this theory pat themselves on the back about inflation as if it is evidence of a growing economy. This kind of fantastical belief is possible only through naivety. A global review of inflation teaches us that some of the most rapid inflation occurs in economies that aren’t growing at all. Conclusion: False.
The Cause… Theory #2 – Cost-Push Inflation
“When companies’ costs go up, they have to raise their prices to maintain a profit margin.” This may explain fragmented price fluctuations, but remember that inflation is the steady rise in price of goods (in general). If prices are stable across the board, but wheat spikes in price, it won’t single handedly result in substantial inflation. Even if wheat is in the “basket of goods” that we use to calculate inflation, its rise in price will minimally affect the overall computation for inflation. Another thing to note is this: What is causing the companies costs to go up? The Cost-Push Inflation theory is almost like saying “Rising prices are caused by rising prices”. Huh? Conclusion: False.
Supply & demand of goods have nothing to do with inflation. Let’s look at the rising price of oil, and examine (more…)
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