Entries Tagged as 'Bush'

Should the rich be spending more to help the economy?

In this very funny open letter to Americas Rich, Daniel Gross urges the wealthy to live up their bargain of all of these tax-cuts and incentives that the Bush administration has been doling out.

“Because we like you, we’ve pretended not to notice your gauche taste and rude manners. (You know you’re benefiting from the greatest concentration of wealth since the 1920s, right? The share of national income taken down by the wealthiest 1 percent rose from 14.6 percent in 2003 to 17.4 percent in 2005, according to Emmanuel Saez of the University of California-Berkeley.) We have sat patiently on JetBlue and Southwest as your private jets clog runways. We continue to bust our butts, defend the borders, and uphold the rule of law in order to protect your fortunes and property.”

In another related article:

“Daniel Gross hoped that an impending recession would force American companies to compete better in the global economy. He also noted that the wealthiest members of society, who have historically voted Republican, are beginning to support Democrats. Tim Harford posited that societies may be predisposed to accept unequal income distribution.”

These are all very interesting articles, especially since they help show how the status quo got us into this mess and it can not maintain this disproportionate equilibrium. As Bush is about to pass out another round of tax refunds it hard not to speculate that they are going to given to the rich again. We already have a strong data set that says the tax refunds of 2001 were ineffective at increasing the money supply. It seems we are choosing crony type favoritism over common sense first year economics. The marginal propensity to consume is much greater for the poor than it is for the rich. Money spend has a multiplier effect that increases the money flow. The rich apparently already have everything they need, they’re just going to save it. It’s the middle income to worse that are still hoping for a win fall that will get them a new flat screen TV.

Link, via Freakonomics

Was Yesterday the Most Depressing Day of the Year?

Dr. Cliff Arnall, a researcher from Cardiff University, thinks so.
“Arnall bases his yearly prediction on a formula he developed, which factors in the weather, consumer debt from holiday spending and failed New Year’s resolutions and arrives at that conclusion that we’ll hit rock bottom on Monday the 21st.”

I think the Economy is contributing to this problem quite a bit. I woke up to the news that the Nikkie has drop the most since 9-11, India’s and Europe’s stock exchange has been plummeting as well. I don’t think Bush’s refund’s are inspiring investment confidence either.

Let’s not forget the weather. Bad weather and natural disaster’s are becoming so frequent that you would think they are fashionable. The reports from the news are so bad in some areas I’m feeling guilty from gripping about parking snow bans.

All this aside though, I think we at Blowingoutlanterns.com have been doing better than we have been in years. I’ve been seeing goals being accomplished and positive results to our work and labor. A few friends have been lost along the way but new ones have been found. More important I think the quality of our interactions has only increased. When I went to bed yesterday I was tired, but it was a good tired. I visited family and had gotten a lot of work done, but I never felt like I was unhappy. If anything I was proud and content. It was odd waking up to the financial report this morning, being an Economics student I was concerned but not worried. I have learned in my life about the resilient spirit of humans. Things may not be ideal, but in these times we are finding more things to be happy about.

If you want to know more about Blue Monday follow the link.

Bush finally gets it!

In almost eight years of fumbled budgets and poor military maneuvers, I think President Bush is finally coming to his senses. His new tax refunds should stimulate a little growth, not to mention possibly uniting the political landscape for the first time since 9-11. His going to the Middle East to finally push a peace plan goes without saying, but most importantly, thanks to England announcing that the War on Terrorist is over, Bush has finally realized what the true terror and threat to mankind is…

The Bush administration

I am a resonably diplomatic person and tend to wait to see the outcome before I state my opinions but is anyone else shrieking “BLOODY HELL” here? 

President Bush is visiting the Saudis this week and he brings with him a magic golden bag containing a rather large arms deal worthy of $20 billion.  This arms deal has what Washington is calling “smart bomb” technology or Joint Direct Attack Munitions.  It will also give 900 of the guided bomb kits that would enable accurate targeting abilities worthy of $123 million.  I am not so much disturbed about the dollar amounts as I am with what it actually is Bush is selling the Saudis and why.  What else is in his magic bag that we are not being told about?  Yes, the Saudis are our Gulf allies but they are also the biggest oil exporter and leading members of OPEC.  This can not set well with an already hostile Iran. 


Photo courtesy of : Reuters

According to the BBC, Bush stated: “I would hope that as OPEC considers different production levels that they understand that if…one of the biggest consumers’ ecomomy suffers it means less purchases, less oil and gas sold.” 

It is expected that Congress will not challenge the opposed arms deal but many have apprehension that the sale of the military technology could be a potential threat to the Pakistans’ adversary and our child, Israel.  However, The Bush administration has stated that Israel is still in the fore front of that technology.  (Phew, good!  I think I might have been worried there for a micro-second, heh.)

It appears that the whole idea behind the arms deal is to bully Iran into a corner and try to force them to lay down their threat of possible nuclear weapons.  Has anyone ever seen what happens when an animal is backed into a corner?  It’s not attractive.

What I am left with is a refuge and light of beacon: 

Days left in Office: 370     Hours: 10     Min: 33     Sec: 0.15