David Stockman & Robert Reich Show 3rd Economic Way!

Discussion in 'Economy' started by mascale, Jun 20, 2011.

  1. mascale

    mascale VIP Member

    Feb 22, 2009
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    David Stockman was the Reagan Administration Budget Director. Robert Reich was the Clinton Administration Labor Secretary. On CNN, "Global Public Square," June 19: They actually managed to dialogue themselves into a sense of just how a national economy is supposed to be run.

    Socialist Economies are predictable. Laissez Faire itself ceases to exist when the usual manipulations of arithmetic start to happen in economies. The Rich tend to get Richer. The Poor tend to Get poorer. The economy goes into a collapse mode.

    Date February 29, 1992--of a Great Leap Forward kind of year--" Dear Philip: Thank you for your thorough and helpful briefing on the 1996 default of the U. S. Federal Government. Depression is certainly due proper attention and timely action. I have turned your information over to my saff for review and study. . . .'

    David Stockman was actually employed before The Clinton Administration, and the Ford Administration was even before the Carter Administration. Robert Reich would not be employed until the Clinton Administration(?)--in the era of the famously regarded, "First African American President in U. S. History."

    Then anyone can compare and contrast with the current Administration(?). . . . .This one is famously from Harvard.

    Reich and Stockman offer advice on fixing economy and unemployment - National economic policy | Examiner.com

    The link is a report and not an actual transcript. Stockman is shown to note the $11.0 tril. of corporate deficit in the credit market. The further allusion was made to the $14.0 tril. U. S. federal deficit in the credit market. The $13.0 tril. Consumer Deficit was also noted, if not so stated either: As being a part of the Total Credit Market. There is more and the total exceeds $52.0 tril.

    Both agreed that consumer spending is stalled, and that corporte spending owes--and is therefore stalled. David Stockman tried to show that Keynesian solutions had not worked. Secretary Reich went forward with the unstated observation: That actually Keynes had recommended deficit spending for public works, and those had not happened. The Obama Administration has conceded that only $47.0 bil. of the $800.0 bil. Stimulus went to public works.

    A lot of it went to GOP kinds of tax cuts--which they took away, and now want to take away. A lot of it went to the unons--in the State and local, public employment sector. That means that the teachers who caused it all, got rewarded. FDR New Deal projects did not happen. CCC did not happen. WPA did not happen. The Construction industry is moribund. There has been nothing of major impact to get it back to going--even to the port-a-potties again.

    The Great Marxist agenda, in the Manifesto, is never widely said to focus on the Centralized Credit Market, part of the agenda. Secretary Reich didn't pay it much attention himself. Buget Director Stockman seemed to know more about it. Score One for Dave!

    Money is no longer a commodity. The ruling elite has no monopoly of the commodity, to distribute to an oligarchy, which pays an oppressor police force, and an otherwise unemployed military hierarchy. The credit market can spread the loot around, and so sets up a Widespread Wealth Worldwide. The Great Socialist Outcome would be an anarchy.

    Of itself, the credit market does not spread the loot around. That is a computing flaw. The Obama Stimulus contained Schedule M, the "Make Work Pay Tax Credit," which was refundable. Anyone got a check, even if nothing was owed. It was in a relatively equal amount. The rich got richer, but so did the poor. Purchasing created demand. With any continuation, then even housing might have been able to be purchased. It is not now being purchased very much.

    Back to anarchy. Government is reliant on the scarity of the commodity of exchange. The socialist models are not reliant on that, but on accepatance and on arithmetic. The fallacious reasoning of a "scarcity of material goods" no longer operates. Even in physics, e=mc squared is not about scarity--but is about, "KaBlooie-things."

    And so there is the current economic reality: At least now being put in play. The GOP anti-spenders are wrong. Economic contraction is the outcome they intend, doing their math.

    "Crow, James Crow: Shaken, Not Stirred!"
    (And so from the Liberals of America, what now do we get instead? Aparently in one major, unstated roar, "My Gawd! He is a Schvartz!")
    Last edited: Jun 20, 2011

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