Recent content by Pksimon2007

- They don't require a math test to join the Tea Party.

- Agreed. I think increasing productivity has something to do with it as well. A lot of skilled manufacturing work is now done robotically. The biggest payoff in automation is when you can get machines to do your highest paid workers' jobs. That's the sweet spot.

- Most stealing isn't against the law. It's called capitalism.

- Manufacturing jobs aren't what they once were anyway. Many manufacturing jobs have, in fact, come back to the U.S. With our labor surplus, though, they don't pay squat.

Yup.

- China needs automation. Their working population is going to drop drastically. Their problem is the opposite of most countries.

- Ad hominem. Perfect. Exactly what we expected from you.

- Thinking fun? You ought to try it sometime. Show me the evidence of 30 million jobs being shipped elsewhere, and why they were shipped. Evidence. Not preening and self-stroking. Evidence.

- How do you explain the difference between income inequality in the U.S. and elsewhere? How do you know the income of the rich is not a result of stealing?

- A rising tide floats all boats. The problem is, most people don't own a boat.

Maybe the neoliberals should have listened to Ross Perot rather than to Milton Friedman.

- Teabag logic: "we need to open the doors to free international capital flows to increase efficiency. It will be good for America and the middle class!" "Hey, where did all the jobs go?" "We need to lower wages so we can compete with Bangladeshis!" Maybe the best way to have an economy which...

- lolwut?

- No, you can't have exponential real growth forever. Eisenstein is just wrong that our monetary system requires that. Sustainability is our next big challenge. That may require some unloveable institutional and social changes.

Eis - Eisenstein is really wrong on one level and right on another. Where he is wrong is in his analysis of money. Endogenous money created through bank lending is created as interest-bearing debt. Exogenous money is not actually created by the central bank, but by federal deficit spending...