How to Cope with Your New $50k in Forced Debt This Year March 6, 2009
Posted by Jeff Nabers in : Money, Personal Enjoyment, Personal Productivity, Uncategorized , add a commentThere are about 100 million non-government, non-taxpayer-paid workers in the U.S.
$3 trillion normal government spending + $2 trillion additional emergency spending = $5 trillion government spending in 2009.
That amounts to $50,000 of government spending per non-government, non-taxpayer-paid U.S. worker in a single year.
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Could Obama's Stimulus Really Work? February 20, 2009
Posted by Jeff Nabers in : Health, Money, Personal Enjoyment, Personal Productivity , add a comment
Our economy is 70% consumerism. That means it is mostly based on individuals buying stuff. So the current setup of our economy holds two basic facts:
- Individuals buying more stuff than they can afford to buy (based on their income) has a net effect that is good for the economy.
- When individuals lower their spending and save and invest money, the net effect is bad for the U.S. economy.
That said, should we even care about “the economy” in its current setup? If individuals were really doing what is good for themselves (saving and investing), it would be terrible for the economy.
So could Obama’s stimulus really work? Absolutely not. Not if you consider “it really working” to mean more than just temporarily. We don’t need a stimulus. We don’t need a boosted economy. We need a changed economy. There are only three ways out of (more…)
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…)
CPI Explained – Part 2 – Substitution November 5, 2008
Posted by Jeff Nabers in : Hyperinflation, Money, Personal Enjoyment , add a comment
This picks up where a previous post left off. You may want to read that post first in order for this one make sense.
Looking at the picture above, I can only imagine that this is the way that the following idea was made into government policy. The second major way BLS’s CPI calculation policies were altered is through the concept of subsitution. In brief, this concept argues that as the price of an item rises, consumers start buying cheaper alternatives.
Consumer substitution is absolutely true. It’s a fact; we all do it. It’s a sign of inflation. We know there is significant inflation when prices of things we buy go up in price. Everything doesn’t go up equally all at the same time. As prices are rising, consumers will substitute goods to get the best deal. BLS uses this concept to reduce the mathematical weighting of items in their basket of goods that rise sharply in price. It is an assumption that (more…)
