You linked to a blog on the
Washington Post web-site here....
Obama was right: To boost the economy, spread the wealth
I don't know anything about the
Washington Post. I do know about the reports prepared by the Church Committee and the House Select Committee on Assassinations, and a few other congressional commissions or committees, who prove with irrefutable evidence that the CIA was planting "news" in major dailies and other periodicals in the Cold War Era.
The CIA
confessed and admitted it....how much more evidence do you want?
I'm not real big on newspapers or the network news (which I haven't seen in 15+ years).
Your blog articles says this....
Oxfam? Are you serious?
Sure, I could be ensnared in the pitfalls of numerous fallacies, but let's be real, Oxfam has a very clear agenda, which they love to rub in your face.
Anyway....clicking on this link....
research ...takes you here...to the IMF web-site.....
Finance & Development, September 2011 - Equality and Efficiency
...where you see this...
I guess the point is that before you make a comment like this....
..
.you might want to actually read the report, because Arthur Okun's name is in the first freaking sentence of the first paragraph of the report.
Do you need a minute to wipe the egg off your face?
He is relevant, because he's the one who foisted this lie of "Income Inequality."
Why don't we ask Andrew Berg and Jonathan Ostry why Okun is relevant....oh, looky here...in their very own words....
In case you missed it, Berg and Ostry state in their own words that Okun is "
influential" which is what makes him relevant.
Do you need a minute to wipe that cheese omelet off your face?
Did it never occur to you that the IMF might have an agenda?
I have repeatedly demanded that "Income Inequality" (snicker) be defined objectively in no uncertain terms, and yet to date, no one has. You could ask Berg and Ostry, but the only thing they'd do is bore you to death with a lot of highfalutin words and then not even define it.
What are you doing about Athletic Inequality?
It's grossly unfair that those people profit off of their talent. Shouldn't we take their salary and wealth accrued from their salary and redistribute it?
Music and Book-Writing Inequality? Shouldn't Stephen King be forced to distribute the money he makes to those who are Writing Challenged?
What about Plumbing Inequality?
It's not fair that people have an innate talent and profit off of it. The wealth of Plumbers should be redistributed.
What about Betty Homemaker?
She has the innate ability to manage finances and establish budgets. Because she does, her children are involved in sports and music and lots of activities, and she and her husband dine out frequently at fine restaurants, and the whole family travels around on long weekends and Summer vacation on holiday.
Why don't you take Betty Homemaker's money and give it to Billy Dopehead?
It's morally wrong and unfair that Billy Dopehead and Cathy Crackuser can't manage their household finances. They can only sell so many Food Stamps for cash to buy beer and dope, and their 13 year old daughter can only turn 8 tricks a night....$80 won't buy a lot of DVDs or heroin.
Some people know how to manage money, some can even manage other people's money, while other still know how to make money, and then a very limited number of people know how to invest.
Investing is an Art, no different than music or sculpting, painting, pottery, cabinet making, writing or anything else.
Taking money from investors to redistribute to the general public who have no clue how to invest, isn't very bright.
Just as a guitar player needs Capital --- a guitar --- to make money, investors need Capital --- cash -- to invest.
If investors don't have money to invest, then how does the economy in a State grow? Where does the need money come from?
Oh.....I get it....
the State should borrow money from the IMF to invest.
Do you need a minute to get that chicken off your face?
Property Theories answer the question,
"Who should control Capital?"
Capitalism states that individuals should control Capital, because individuals are more responsive or sensitive to the needs of the Market, and to changes in the Market.
Socialism is group control of Capital. Quite often, the group controlling the Capital is a government, or bureaucracy, but it may also include non-governmental organizations and oligarchies.
Unions are Socialist. What Capital does a union control? Labor.
Are unions responsive or sensitive to Market needs, or changes in the Market?
Nope.
Dead people have faster reflexes than unions --- or government.
What is the IMF?
Socialist.
The Free Market and the Command System are the two primary Economic Systems which answer three basic questions:
1]
What shall we produce?
2]
How shall we produce it?
3]
For whom shall we produce?
The Economic System itself is the answer to the questions.
Shall we produce corn? The Market will decide. Who is the Market? All classes of consumers.
For whom shall we produce? The Market will decide. Households are a class of consumers that are part of the Market. Households demand corn in the husk, corn on the cob, frozen corn, canned corn, creamed corn, succotash and popcorn, no?
Ethanol producers demand corn, so do ranches for livestock, wholesalers, retailers, restaurants, all kinds of business and industry, apparently including producers of dog food.
In a Command System, you have a Command Group which may be government, a bureaucracy within government, a non-governmental organization or an oligarchy who decides what is produced, how it is produced and for whom it is produced.
Take the Soviet Union:
Shall we produce denim jeans? Command Group says, "Not no, but Hell no."
Additionally, Command Groups often set prices and quotas, like this Command Group did....
Dairy Farmers of America joins $158.6M milk price fixing settlement - Kansas City Business Journal
Are you okay?
I know you're all broke up and just devastated by this.
I'm sure all of the ACA supporters held a candle-light vigil in support of the Dairy Farmers of America who are a Soviet-style Command Group.
ACA supporters ardently believe that price-fixing is good, and it's good for you, and good for America.
There is no denying that, since the American Hospital Association is also a Command Group and engages in price-fixing.
The American Hospital Association fixes prices for medical costs that are double, triple, quadruple and quintuple Free Market rates...and that is good for America.....ACA supporters say so. That money rightly and justly belongs to the executives and administrators of the American Hospital Association, and since Americans will not of their own free will hand over their money to them, then price-fixing to gouge Americans is justified.
Price-fixing medical costs also forces Americans to pay more money for health insurance than they should be paying, and that is good for America, too.
Obama supports price-fixing by the American Hospital Association to price-gouge Americans, and the proof is that Obama has never made any attempt to end price-fixing...in fact, the ACA supports and encourages the practice.
So, what is the IMF?
In addition to being a Socialist group that control Capital --- mainly cash and credit, the IMF is a Soviet-style Command Group that sets interest rates independent of Free Market interest rates.
Additionally, the IMF attaches numerous strings to its loans, dictating political, social and economic policies for States.
What you want.....and what your overly-praised IMF PhD economists want, is to redistribute the wealth of Cameroon, by taking money from investors, so that Cameroon has no Capital to invest to grow its economy.
The IMF wants Cameroon to come on its hands and knees begging the IMF to grant loans with lots of strings attached.
And even that wouldn't be so bad, except that if the people of Cameroon demanded organic produce and meats, there is no Capital to shift to the production of organic produce or meats, and Cameroon would have to beg the IMF, who would refuse to loan money to Cameroon for purposes of engaging in organic agriculture and livestock production for domestic consumption and local, regional or international export.
However, the IMF would gladly loan money to Cameroon to produce GMO Franken-Food and Franken-Meats by Monsanto, Cargil, Con-Agra and others.
I hope you feel better now....
Mircea
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