"Dear Philip, Thank you for your thorough and helpful briefing on the 1996 Default of the U. S. Federal Government. .. . .Bill Clinton, February, 1992" Reagan-Bush had already blown it. Senator George McGovern had already proposed a $1000.00 payment to every man, woman and child. Senator Humphrey had mocked it. Running For President now, Andrew Yang is proposing $1000.00 Basic Income per month. A kind of geometric progression of proposal amounts is noted.
(My aunt learned about Holocaust from Tim Boyle's mom: At frat events at University of Oregon. (Gert is now gone.) Columbia Sportwear reportedly made a TV commercial mark in the Pacific Northwest. One I have actually seen. Coincidentally, my dad was actually the first dealer to advertise cars on TV in Hollywood / North Hollywood, CA--1/2 page LA Times Article, also unbelieving. It was actually an allied dealer of the three: Haldeman's kid--who made it into federal penitentiary in the Nixon Administration(?)! My grandfather's ranch was across the LA River from what is now NBC Universal. Monitoring the river was a part of Mulholland's job, so they were friends. Grandpa dug only the third successful well ever in the San Fernando Valley. The subsequent, "Miracle of the Swimming Pools," is not recorded in the Testaments, or even in Koran(?)).
What the "Default" was all about was the likely perception that economics in place wasn't working. It was not Keynesian deficit spending. Expert John Kenneth Galbraith had so editorialized. Reagan was taking the federal deficit dollars and sending them off to the already prosperous, instead. The Ford Republicans had done something different. Ford had created the Equal Amount $50.00 tax rebate, subsequent the McGovern plan. To offset the Regressive Pay roll tax, GOP came up with Equal Amount Child Credit as offset.
If Moses had borrowed usury economics from Pharaoh, (Maybe per Acts 7): Then it became applied in Matthew 25: 14-30. The backdrop was normal family/tribal/community arithmetic. All members of a Household prospered equally in a payment plan based in equal amounts--even regardless if everyone had worked the amount of the day or not. So maybe a little kid went to school(?) and worked only one hour. The already educated adults may have worked the whole day, or shorter shifts during the daylight hours--time off to go to market for essentials. Everyone could get the same amount described in Matthew 20: 1-16.
At least Matthew 25 is semi-cloned in the New Testament Luke Gospel: A Greek in fact. The 20th Century Republicans had spotted the regressive Matthew 25 usury math, so-stated in that text. The counter was the equal amount Child Credit like in Matthew 20 story.
With no direct reference, Mohammed would prohibit wealth from riba, (usury interest), in Koran. Adam Smith took no notice of either text(s). Karl Marx would propose centralization of Credit, (usury). Banking was a known concept. Federal Reserve came about in 1913--no more bogus bank notes. If your money was bank-based and failed, so did you.
By 1986 Tax Reform--a basic national COLA kind of arithmetic could be proposed--not like McGovern or Yang, and a basis for indexing the Obama "Make Work Pay" Tax credit. The US Federal Standard Deduction equal amount, and the personal exemption equal amounts: Were raised in equal amounts, and indexed for inflation.
______________________________
A left-right diagonal in a rectangle can represent the usury-based type of raises common in the market place. The existing income level is the left side. Little perpendicular dots out to the diagonal can represent the fixed percentage raises. If there is basis cost-of-living--prices--and people can't pay them (incomes below that, in successively lesser amounts): Then out they go, and rich have no customers on which to rely. So little theoretical lines get drawn in past the diagonal: To the right side of the box. Where there was inequality of raises, there is replacement with the equal amount raises.
Enter the liberals with the federal deficits--allegedly public works to bail-out from recessions. There is actually no repayment basis likely--from massive tax hikes. The lower income market doesn't exist--in successively larger amounts, year by year. So the federal government bails, and Yang's money is way more than McGovern's money.
Further: The little dots are not coins of gold and silver. They are Credit--now about $80.0 tril. total of all the types of credit financing. Go back to the box. There is way more credit than there is personal income to ammortize it.
Go back to the opening of the post.
Obama went into $1.0 tril. spending deficits. End of Great Recession.
Trump has created a $1.0 tril. annual deficit. Start of New Recession.
And Yang's Plan is way more expensive than McGovern's(?)!
The December ISM report of January 3, 2020: Shows a fifth straight month of contraction, and some readings back to 2009--of recent history.
Institute for Supply Management | Established in 1915
Clinton and I are same age: As Trump.
"Crow, James Crow: Shaken, Not Stirred!"
(There was a certain order to the '60's. The Donald John Trump version is way more Fantasy-Laden than anyone might have ever thought possible!)
(My aunt learned about Holocaust from Tim Boyle's mom: At frat events at University of Oregon. (Gert is now gone.) Columbia Sportwear reportedly made a TV commercial mark in the Pacific Northwest. One I have actually seen. Coincidentally, my dad was actually the first dealer to advertise cars on TV in Hollywood / North Hollywood, CA--1/2 page LA Times Article, also unbelieving. It was actually an allied dealer of the three: Haldeman's kid--who made it into federal penitentiary in the Nixon Administration(?)! My grandfather's ranch was across the LA River from what is now NBC Universal. Monitoring the river was a part of Mulholland's job, so they were friends. Grandpa dug only the third successful well ever in the San Fernando Valley. The subsequent, "Miracle of the Swimming Pools," is not recorded in the Testaments, or even in Koran(?)).
What the "Default" was all about was the likely perception that economics in place wasn't working. It was not Keynesian deficit spending. Expert John Kenneth Galbraith had so editorialized. Reagan was taking the federal deficit dollars and sending them off to the already prosperous, instead. The Ford Republicans had done something different. Ford had created the Equal Amount $50.00 tax rebate, subsequent the McGovern plan. To offset the Regressive Pay roll tax, GOP came up with Equal Amount Child Credit as offset.
If Moses had borrowed usury economics from Pharaoh, (Maybe per Acts 7): Then it became applied in Matthew 25: 14-30. The backdrop was normal family/tribal/community arithmetic. All members of a Household prospered equally in a payment plan based in equal amounts--even regardless if everyone had worked the amount of the day or not. So maybe a little kid went to school(?) and worked only one hour. The already educated adults may have worked the whole day, or shorter shifts during the daylight hours--time off to go to market for essentials. Everyone could get the same amount described in Matthew 20: 1-16.
At least Matthew 25 is semi-cloned in the New Testament Luke Gospel: A Greek in fact. The 20th Century Republicans had spotted the regressive Matthew 25 usury math, so-stated in that text. The counter was the equal amount Child Credit like in Matthew 20 story.
With no direct reference, Mohammed would prohibit wealth from riba, (usury interest), in Koran. Adam Smith took no notice of either text(s). Karl Marx would propose centralization of Credit, (usury). Banking was a known concept. Federal Reserve came about in 1913--no more bogus bank notes. If your money was bank-based and failed, so did you.
By 1986 Tax Reform--a basic national COLA kind of arithmetic could be proposed--not like McGovern or Yang, and a basis for indexing the Obama "Make Work Pay" Tax credit. The US Federal Standard Deduction equal amount, and the personal exemption equal amounts: Were raised in equal amounts, and indexed for inflation.
______________________________
A left-right diagonal in a rectangle can represent the usury-based type of raises common in the market place. The existing income level is the left side. Little perpendicular dots out to the diagonal can represent the fixed percentage raises. If there is basis cost-of-living--prices--and people can't pay them (incomes below that, in successively lesser amounts): Then out they go, and rich have no customers on which to rely. So little theoretical lines get drawn in past the diagonal: To the right side of the box. Where there was inequality of raises, there is replacement with the equal amount raises.
Enter the liberals with the federal deficits--allegedly public works to bail-out from recessions. There is actually no repayment basis likely--from massive tax hikes. The lower income market doesn't exist--in successively larger amounts, year by year. So the federal government bails, and Yang's money is way more than McGovern's money.
Further: The little dots are not coins of gold and silver. They are Credit--now about $80.0 tril. total of all the types of credit financing. Go back to the box. There is way more credit than there is personal income to ammortize it.
Go back to the opening of the post.
Obama went into $1.0 tril. spending deficits. End of Great Recession.
Trump has created a $1.0 tril. annual deficit. Start of New Recession.
And Yang's Plan is way more expensive than McGovern's(?)!
The December ISM report of January 3, 2020: Shows a fifth straight month of contraction, and some readings back to 2009--of recent history.
Institute for Supply Management | Established in 1915
Clinton and I are same age: As Trump.
"Crow, James Crow: Shaken, Not Stirred!"
(There was a certain order to the '60's. The Donald John Trump version is way more Fantasy-Laden than anyone might have ever thought possible!)
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