Microeconomics

Bill Bonner — Hormegeddon: How Too Much of a Good Thing Leads To Disaster — Videos

Posted on July 13, 2019. Filed under: American History, Banking, Blogroll, Books, Business, College, Communications, Computers, Computers, Congress, conservatives, Constitution, Corruption, Crime, Culture, Economics, Education, Elections, Employment, Energy, Faith, Family, Farming, Federal Government, Federal Government Budget, Fiscal Policy, Foreign Policy, Freedom, Friends, government, government spending, Health, history, History of Economic Thought, Immigration, Investments, Journalism, Language, Law, liberty, Life, Links, Literacy, Macroeconomics, media, Microeconomics, Monetary Policy, Money, Money, Narcissism, Newspapers, Non-Fiction, People, Philosophy, Photos, Plays, Police, Political Correctness, Politics, Presidential Candidates, Programming, Psychology, Radio, Radio, Rants, Raves, Raymond Thomas Pronk, Regulations, Reviews, Security, Talk Radio, Tax Policy, Taxation, Taxes, Technology, Terrorism, Trade, Trade Policiy, Transportation, Wealth, Writing | Tags: , , , , , , , |

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Why Public Policy Always Ends in Disaster

It’s Hormeggedon! What Happens When Public Policy Passes the Point of No Return

Bill Bonner Interview: hold on to your cash, the real financial crisis is yet to come

Bill Bonner on the financial markets WORLD.MINDS INTERVIEW

How to Profit from the Death of Retail. Guest Bill Bonner.

Bill Bonner (author)

 MoneyWeek magazine,[2] and his daily financial column Bill Bonner’s Diary.[3]

Contents

Biography

Bonner was born in 1948.[4] He attended the University of New Mexico and Georgetown University Law School, and he began work with Jim Davidson, at the National Taxpayers Union.[citation needed]

Bonner was a director of MoneyWeek from 2003 to 2009.[4]

Works

Bonner co-authored Financial Reckoning Day: Surviving The Soft Depression of The 21st Century and Empire of Debt with Addison Wiggin. He also co-authored Mobs, Messiahs and Marketswith Lila Rajiva. The latter publication won the GetAbstract International Book Award for 2008.[5] He has previously co-authored two short pamphlets with British media historian, John Campbell, and with The Times former editor, Lord William Rees-Mogg, and has co-edited a book of essays with intellectual historian, Pierre Lemieux.[6]

In his two financial books, as well as in The Daily Reckoning, Bonner has argued that the financial future of the United States is in peril because of various economic and demographic trends, not the least of which is America’s large trade deficit. He claims that America’s foreign policy exploits are tantamount to the establishment of an empire, and that the cost of maintaining such an empire could accelerate America’s eventual decline. Bonner argues in his latest book that mob and mass delusions are part of the human condition.[citation needed]

Bonner warned in 2015 that the credit system, which has been the essential basis of the US economy since the 1950s, will inevitably fail, leading to catastrophic failure of the banking system.[7][8]

In June 2016, Bill Bonner, via his company Agora, paid for an advertisement on Reuters describing a new law that would not allow Americans to take money out of their own USA accounts. The ad reads: “New Law Cracks Down on Right to Use Cash. Americans are reporting problems taking their own money out of US banks.” The advertisement does not cite the law (the Foreign Account Tax Compliance Act or FATCA[9]) to which it refers.

References

  1. ^ “Bill Bonner, Author at LewRockwell LewRockwell.com”.
  2. ^ https://moneyweek.com/author/bill-bonner/
  3. ^ Bill Bonner’s Diary
  4. Jump up to:a bhttps://beta.companieshouse.gov.uk/company/04016750/officers
  5. ^ “getAbstract International Book Award”.
  6. ^ Bonner, Bill; Lemieux, Pierre (2003). The Idea of America. Agora Health Books. ISBN 1891434136.
  7. ^ “Bill Bonner: hold on to your cash, the real financial crisis is yet to come”. MoneyWeek. March 3, 2015.
  8. ^ Wiggins, Addison (June 29, 2015). “When Genius Fails Again”. Forbes. Retrieved December 1, 2016.
  9. ^ Sahadi, Jeanne (June 4, 2015). “You’ve never seen IRS penalties like these”CNNMoney. Retrieved 2016-08-01.

External links

https://en.wikipedia.org/wiki/Bill_Bonner_(author)

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March 16, 2018, Story 1: National Debt Hits $21,000,000,000 and Rising Rapidly Burdening American People — Government Spending Is Out of Control — Videos

Posted on March 16, 2018. Filed under: American History, Articles, Banking, Blogroll, Business, College, Computers, Congress, Constitution, Corruption, Crime, Crisis, Culture, Documentary, Economics, Education, Elections, Employment, Faith, Family, Federal Government, Federal Government Budget, Fiscal Policy, Fraud, history, History of Economic Thought, Illegal, Immigration, Inflation, Internal Revenue Service (IRS), Investments, IRS, Journalism, Law, Legal, liberty, Life, Links, Macroeconomics, media, Microeconomics, Monetary Policy, Money, Money, People, Philosophy, Photos, Police, Politics, Radio, Rants, Raves, Raymond Thomas Pronk, Regulations, Spying, Strategy, Talk Radio, Taxation, Taxes, Technology, Terrorism, Trade Policiy, Unemployment | Tags: , , , , |

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U.S. Debt Clock

http://www.usdebtclock.org/

 

David Stockman – 1980’s growth was debt fueled by the Junk bond fiasco

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Can Trump slow down the national debt?

Donald Trump’s $20 Trillion Problem

THIS is How the U.S. Accumulated $21 Trillion in Debt Without COLLAPSING!

Japans Debt Problem Visualized

National debt hits $21 trillion

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Story 1: U.S. Personal Consumption Spending and Inflation Rising — Videos

Posted on December 22, 2017. Filed under: American History, Banking, Blogroll, Business, College, Communications, Computers, Congress, Culture, Economics, Education, Elections, Employment, Faith, Family, Federal Government, Federal Government Budget, Fiscal Policy, Food, Freedom, Friends, government spending, Health, history, Illegal, Immigration, Inflation, Investments, Journalism, Law, Legal, liberty, Life, Links, Macroeconomics, media, Microeconomics, Monetary Policy, Money, Money, People, Philosophy, Photos, Politics, Raves, Raymond Thomas Pronk, Resources, Success, Talk Radio, Tax Policy, Taxation, Taxes, Technology, Video, Welfare, Work, Writing | Tags: , , , , |

Story 1: U.S. Consumption Spending and Inflation Rising — Videos

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U.S. Inflation Gains in Nov., While Core CPI Cools

Will retail earnings get a boost from consumer spending increase?

Gary Shilling Explains Why The US Should Focus Less On Consumption

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U.S. Consumer Spending Tops Forecasts as Inflation Accelerates

U.S. consumer spending rose more than forecast in November and the Federal Reserve’s preferred inflation gauge advanced to an eight-month high, signs of economic vitality that should keep the central bank on track to raise interest rates gradually in 2018.

Purchases rose 0.6 percent after a 0.2 percent advance that was less than previously estimated, Commerce Department figures showed Friday. The median forecast in a Bloomberg survey called for a 0.5 percent gain. Incomes rose 0.3 percent, slightly below projections, though the three-month gain was the fastest since early 2017.

While partly reflecting rising prices and spending related to energy, the results indicate strength in consumption, which accounts for about 70 percent of the economy and is likely to drive U.S. growth again this quarter. Inflation moving closer to the Fed’s target may also reinforce expectations for interest- rate hikes next year under incoming Chairman Jerome Powell, and tax legislation awaiting President Donald Trump’s signature could provide a further boost to the economy.

One caveat: The report showed Americans’ spending is increasingly coming at the expense of storing up funds. The saving rate fell to 2.9 percent in November, the lowest since November 2007, just before the last recession began.

What Our Economists Say…

The results “support Bloomberg Economics’ forecast for consumer-spending growth to accelerate in the fourth quarter to the fastest pace since the beginning of the year. Importantly, robust personal spending is supported by strong income gains in November, suggesting that households are well-positioned to spend in the near term. Income gains should intensify going into the next year as wage pressures increase.”

— Yelena Shulyatyeva, Bloomberg Economics

For more on the data from BE, click here.

The Fed’s preferred inflation gauge — tied to consumption — rose 0.2 percent in November from the previous month and 1.8 percent from a year earlier, the fastest since March. Excluding food and energy, so-called core prices rose 0.1 percent from October and 1.5 percent from November 2016, matching estimates.

Inflation has missed the central bank’s 2 percent target for most of the past five years. While energy prices have helped drive the pickup in headline inflation, the rise in the core gauge should also hearten Fed officials, who expect inflation will slowly reach their goal as transitory downward pressures dissipate.

With steady hiring and rising stock and home prices boosting households’ ability to increase purchases, some analysts project the holiday season will be the best since before the recession began. Recent government figures showed retail sales rose more than forecast in November amid broad-based demand.

The latest results follow Commerce Department figures released Thursday that showed third-quarter gross domestic product grew at a 3.2 percent annualized pace, revised down slightly though still the fastest since early 2015. That reflected a somewhat slower rate of household consumption.

Economists expect growth of 2.7 percent in the October-December period, based on the median estimate in a Bloomberg survey.

Other Details

  • Wages and salaries rose 0.4 percent in November from the prior month; disposable income, or earnings adjusted for taxes and inflation, was up 0.1 percent after a 0.3 percent advance in October
  • Consumer spending on durable goods, adjusted for inflation, rose 0.2 percent for a second month; nondurable goods jumped 0.7 percent after a 0.2 percent advance; recreational goods and vehicles contributed to gains
  • Household outlays on services, adjusted for inflation, rose 0.4 percent after a 0.1 percent decline in prior month; gain reflects spending on electricity and gas

— With assistance by Jordan Yadoo, Catarina Saraiva, and Sophie Caronello

https://www.bloomberg.com/news/articles/2017-12-22/u-s-consumer-spending-tops-forecasts-as-inflation-accelerates

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Todd G. Buchholz — Bringing The Jobs Home: How The Left Created The Outsourcing Crisis — and How We Can Fix It — Videos

Posted on August 12, 2017. Filed under: Banking, Books, College, Communications, Economics, Education, Employment, Energy, Enivornment, Faith, Family, Federal Government, Fiscal Policy, Foreign Policy, Freedom, History of Economic Thought, Macroeconomics, media, Microeconomics, Monetary Policy, Natural Gas, Nuclear Power, Oil, Tax Policy, Wealth, Welfare, Wisdom, Work, Writing | Tags: , |

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Todd G. Buchholz

From Wikipedia, the free encyclopedia

Todd G. Buchholz is an economist and has served as White House director of economic policy under George H.W. Bush and a managing director of the Tiger hedge fund. He was awarded the Allyn Young Teaching Prize by the Harvard University Department of Economics and was named “One of the Top 21 Speakers of the 21st Century” by Successful Meetings magazine. Businessweek and Bloomberg have reported that Buchholz is on the short-list for a White House appointment to the Federal Reserve Board.[1]

The Wall Street Journal named Buchholz’s 2016 book The Price of Prosperity: Why Rich Nations Fail and How to Renew Them, one of eight “must-reads” for the summer of 2016.[2] Buchholz is the inventor of the Math Arrow,[3] a mathematical matrix that makes numbers more intuitive to children. He is the CEO of Sproglit, LLC,[4] which develops software and classroom materials based on the Math Arrow. Martin Cooper (inventor), widely recognized as the inventor of the cellular phone, has called the Math Arrow “ingenious.”

Life and career

A founder of the G7 Group consulting firm, Todd Buchholz holds advanced degrees in law from Harvard Law School and in economics from University of Cambridge. He has also served as a Fellow at Cambridge University.

Buchholz frequently contributes commentaries on political economy, financial markets, business and culture to the New York TimesWall Street Journal and Washington Post, as well as PBSNPR and major television networks. He hosted his own special on CNBC and is the only person to guest-host CNBC’s Squawk Box two days in a row.

His books have been translated into over 15 languages and his first book New Ideas from Dead Economists is listed as a “classic” by the American Economic Association.[5] It has been strongly endorsed by such varied thinkers as Milton Friedman and Lawrence Summers.[6]

Buchholz’s newest book, The Price of Prosperity: Why Rich Nations Fail and How to Renew Them was published by HarperCollins in June 2016. The book received endorsements from prominent Democratic and Republican economists, including Lawrence Summers, Alan Blinder, Michael Boskin and Glenn Hubbard. Former Federal Board vice chair Blinder called it a “crackling read…a tour de force.”[1] Buchholz’s 2011 book Rush: Why You Thrive in the Rat Race was named a top ten book in the social sciences by Publishers Weekly, and a book of the year by the New York Post and Los Angeles Times.[7] Rush is a “synthesis of neuroeconomics and evolutionary psychology.” In 2012, Rush was featured on the Charlie Rose television show.[8] Buchholz’s other works include New Ideas from Dead CEOsLasting Lessons from the Corner OfficeFrom Here to EconomyMarket Shock, and Bringing the Jobs Home.

Buchholz resides primarily in San Diego, California and travels the world delivering keynote presentations on economics, finance, and innovation to such companies as MicrosoftIBM and General Electric, as well as to governmental organizations.[2] He has lectured in the U.K. Parliament, as well as at the White House library and the U.S. Treasury.

He is one of the founding producers of the Broadway musical Jersey Boys; is active in entrepreneurial businesses; holds engineering and design patents; and advises investment funds on business and portfolio strategy. In 2011, he co-founded software companySproglit, LLC.

He is also the author of a mystery novel about a boxer and hedge funds, called The Castro Gene, which won a USA Best Books prize.[9] Buchholz is the coauthor of the musical, Glory Ride, which tells the true story of Italians sneaking children out of Fascist Italy on bicycles. Glory Ride was performed in New York in January 2015, starring Tony Award nominee Josh YoungAlison Luff, and Quinn VanAntwerp. [10]

Economic Theories and Policy Proposals

Buchholz has devised a number of economic theories and policy proposals, which have been presented in books, articles, and lectures:

Law of Fertility, Prosperity, and Immigration

In his book The Price of Prosperity, Buchholz shows that when a nation’s annual average GDP rate exceeds 2.5 percent for two consecutive 25-year periods (two generations), the fertility rate will drop to just over the replacement level, that is, 2.5 children per female. If GDP continues to grow for a third consecutive generation, the fertility rate will tend to drop below 2.1 percent and the population will require immigration to maintain a stable working population. As a corollary, if the fertility rate falls below the replacement rate, the nation will find it extraordinarily difficult to pay down accumulated debt.[11]

Locking in Super Low Rates

On the editorial page of the Wall Street Journal [12] in June 2012, Buchholz proposed that the U.S. Treasury lock in record low borrowing rates by issuing 100-year bonds. With the 10-year Treasury yielding just 1.62%, Buchholz called it the “best deal since Pope Julius paid a pittance to have Michelangelo paint his ceiling.” Fourteen months after the article appeared, yields had risen by 78 percent to 2.88%.[13]

Competition Breeds Cooperation

In his book Rush, Buchholz argues through neuroscience and history that competitive societies achieve longer life expectancy, less disease, and greater measures of cooperation than societies that try to quash competitiveness.[14]

Turning Unemployment Compensation into Signing Bonuses[edit]

In 2011, on the front page of the Washington Post Outlook section, Buchholz proposed turning unemployment compensation into signing bonuses.[15] Instead of collecting 99 weeks of unemployment payments, under Buchholz’s proposal, individuals would receive a signing bonus from the government if they accepted a job sooner.

Crime and Interest Rates

The Buchholz Hypothesis holds that crime is strongly correlated with interest rates.[16] This hypothesis helps solve the puzzle of why crime fell during the Great Depression, even though conventional wisdom suggests that a bad economy leads people to commit more crime.

Free-Rider Effect on National GDP

In his book New Ideas from Dead Economists, Buchholz argues that small countries with large social welfare programs may achieve strong GDP gains because they are able to ride on the gains generated by countries that promote a more competitive structure with less governmental intervention.

Economic Forecasting

In his media and speaking appearances, Buchholz frequently makes forecasts about major economic turns and developments, sometimes with surprising accuracy.

Farmland Price Drop 2014-2015

In January 2014, in an essay entitled “Green Acres Turning Red,” Buchholz forecast a sharp decline in farmland prices, following a sharp multi-year rally. Buchholz stated that prices were “teetering on the slope of something ugly and parabolic.”[3] Over the next two years, farmland rental rates dropped by almost 20 percent.[17]

Oil Price Collapse 2014-2015

In April 2014, with the price of oil at approximately $100 per barrel, Buchholz appeared on Fox Business Channel with Maria Bartiromo and forecast (correctly) that the price of oil would plunge to $50 per barrel.[18]

U.S. Debt Downgrade 2011

In 2011, in keynote speeches and in television and radio interviews, Buchholz forecast that the Standard and Poor’s rating agency (S&P) would downgrade U.S. Treasury debt. On August 5, S&P announced the downgrade of U.S. debt from AAA to AA+[19]

Economic Recovery Forecast 2009

In February 2009, Buchholz was among the first well-known U.S. economists to forecast an economic recovery from the “Great Recession.” In a speech to the Americas Lodging Investment Summit, Buchholz forecast that “we’re going to have an economic recovery just in time for back-to-school sales in September” and that “lodging and hospitality is going to benefit from this upswing as well.” In fact, GDP did turn positive in the third quarter of 2009.[20]

April 2008 Commodities Forecast

In April 2008, on the PBS Nightly Business Report, Buchholz forecast that commodity prices, including oil, would climb higher in the short-term but then tumble during the summer of 2008. On July 13, 2008, addressing the Southern Legislative Conference, when oil prices were $137 per barrel and leading Wall Street analysts were forecasting a move to $200, Buchholz predicted that prices would fall by half over the next six months. His comments were met with criticism from other leading economic analysts, but within the next eight weeks, prices of commodities such as oil, grain, and industrial metals started to crumble, and the price of oil fell significantly.

June 2008 Economic Forecast

In an opening keynote speech at Everything Channel’s 2008 VARBusiness 300 Conference in June 2008, Buchholz said he believed that the U.S. economy, while undoubtedly in a slowdown, would avoid two consecutive quarters of negative GDP, the classic definition of a recession. “I’m convinced we’re not going to have any quarters of negative GDP”, he added. Buchholz cited high employment, lean inventories at manufacturers, and strong exports, spurred by the weaker dollar, as reasons for his beliefs.[21]

Instability of the Eurozone

Buchholz’s 1999 book Market Shock warned that the Eurozone was unstable and headed toward political turmoil.[22] In a chapter subtitled “How European Unity Splinters,” Buchholz pointed out that eventually the Mediterranean nations and Ireland would stumble because those countries required a different monetary policy than the core countries of Germany and France.

References

  1. Jump up^http://www.businessweek.com/bwdaily/dnflash/jul2005/nf20050721_2381_db038.htm
  2. Jump up^ “Eight Summer Vacation Must-Reads from the Wall Street Journal”.
  3. Jump up^ https://www.theguardian.com/science/alexs-adventures-in-numberland/2013/jun/07/mathematics
  4. Jump up^ http://www.sproglit.com/
  5. Jump up^ American Economic Association books
  6. Jump up^ Todd G. Buchholz, New Ideas from Dead Economists (New York: Penguin, 2007)
  7. Jump up^ “Spring 2011 Adult Announcements”Publishers Weekly,
  8. Jump up^ Interview with Charlie Rose
  9. Jump up^ The USA Best Books 2007 Awards, USA Book News
  10. Jump up^ http://www.theatermania.com/new-york-city-theater/news/josh-young-stars-in-glory-ride-reading_71191.html
  11. Jump up^ Buchholz, Todd (2016). The Price of Prosperity. HarperCollins. p. 36. ISBN 9780062405708.
  12. Jump up^https://www.wsj.com/articles/SB10001424052702303836404577475060119430638
  13. Jump up^ https://www.bloomberg.com/news/2013-08-18/gold-holds-gains-as-asian-futures-slip-after-u-s-retreat.html
  14. Jump up^ Todd G. Buchholz (2012) Rush: Why You Thrive in the Rat Race. New York: Hudson Street/Penguin.
  15. Jump up^ http://www.washingtonpost.com/opinions/instead-of-unemployment-benefits-offer-a-signing-bonus/2011/06/08/AG46vHPH_story.html
  16. Jump up^ Todd G. Buchholz, (2007) New Ideas From Dead Economists. New York: Plume. p. 200
  17. Jump up^ “Farmland Values and Credit Conditions” (PDF). Chicagofed.org. Chicago Reserve Bank of Chicago.
  18. Jump up^ http://video.foxbusiness.com/v/3418293666001/oil-headed-for-50-a-barrel/?#sp=show-clips
  19. Jump up^ http://www.marketwatch.com/story/us-may-still-face-debt-downgrade-buchholz-2011-07-31
  20. Jump up^ http://www.hospitalitynet.org/news/4040053.html
  21. Jump up^ Whiting, Rick (June 2008). “Buchholz: U.S. Will Skirt A Recession”. VARBusiness28 (6): 18 =.
  22. Jump up^ Todd G. Buchholz, (1999) Market Shock. New York: Harper Collins. p.146.

External links

https://en.wikipedia.org/wiki/Todd_G._Buchholz

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The Pronk Pops Show — Week In Review — July 28-August 4, 2017 — Videos

Posted on August 5, 2017. Filed under: American History, Banking, Blogroll, Bunker Busters, Business, Central Intelligence Agency (CIA), College, Computers, Congress, Constitution, Corruption, Crime, Crisis, Culture, Defense Intelligence Agency (DIA), Diet, Documentary, Drones, Drug Cartels, Economics, Education, Elections, Employment, Energy, Entertainment, Faith, Family, Federal Bureau of Investigation (FBI), Federal Bureau of Investigation (FBI), Federal Government, Federal Government Budget, Fiscal Policy, Food, Foreign Policy, Fraud, Freedom, Friends, government, government spending, Health, Health Care, history, Illegal, Immigration, Inflation, Internal Revenue Service (IRS), Investments, IRS, Islam, Journalism, Language, Law, Legal, liberty, Life, Links, Literacy, Macroeconomics, media, Microeconomics, Milk, Missiles, Monetary Policy, Money, Music, National Security Agency (NSA), Natural Gas, Newspapers, Nuclear, Nuclear Power, Nuclear Proliferation, Obamacare, Oil, People, Philosophy, Photos, Pistols, Police, Political Correctness, Politics, Press, Programming, Psychology, Radio, Radio, Rants, Raves, Raymond Thomas Pronk, Religion, Rifles, Security, Spying, Strategy, Success, Talk Radio, Tax Policy, Taxation, Taxes, Technology, Television, Terrorism, The Pronk Pops Show, Trade Policiy, Video, War, Wealth, Weapons, Weapons of Mass Destruction, Welfare, Wisdom, Work, Writing | Tags: , |

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The Pronk Pops Show Podcasts

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Pronk Pops Show 924, July 6, 2017

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Pronk Pops Show 921, June 29, 2017

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Pronk Pops Show 919, June 27, 2017

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Pronk Pops Show 911, June 14, 2017

Pronk Pops Show 910, June 13, 2017

Pronk Pops Show 909, June 12, 2017

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Pronk Pops Show 900, May 25, 2017

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Pronk Pops Show 887, May 5, 2017

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Pronk Pops Show 885, May 3, 2017

Pronk Pops Show 884, May 1, 2017

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Image result for cartoons illegal alien invasion of united states

The Pronk Pops Show 940

August 3, 2017

Breaking News — Story 1: Special Counsel Robert Mueller III Impanels Grand Jury for Russian Investigation and Alleged Russia/Trump Collusion Conspiracy Theory — Videos —

Story 2: Proposed Reforming American Immigration for Strong Employment (RAISE) Act will Expose Hypocrisy of Democrats and Republicans In Promoting Open Borders with 30-60 Million Illegal Invasion of United States Over The Last 30 Years and Rising Legal Immigration Instead of Protecting The American Worker and Middle Class — The Betrayal Of American People By The Political Elitist Establishment — Videos

For additional information and videos:

https://pronkpops.wordpress.com/2017/08/03/the-pronk-pops-show-940-august-3-2017-breaking-news-story-1-special-counsel-robert-mueller-iii-impanels-grand-jury-for-russian-investigation-and-alleged-russiatrump-collusion-conspiracy-theory/

August 04, 2017 04:57 PM PDT

The Pronk Pops Show 939

August 2, 2017

Story 1: President Trump For National Unity Furiously Signs Flawed Russia, Iran, and North Korea Sanctions Bill — Videos —

Story 2: Trump Announces New Immigration Policy — Reforming American Immigration for Strong Employment (RAISE) Act — Videos

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August 03, 2017 12:00 PM PDT

The Pronk Pops Show 938

August 1, 2017

Story 1: Vice-President On The Trump Doctrine In Speech Delivered From Estonia, Latvia, and Lithuania — Videos —

Story 2: President Trump Will Sign Sanctions Bill For Russia, North Korea, and Islamic Republic of Iran — Videos — Story 3: Washington War Fever with Neocon Republicans and Progressive Democrats United Against Russia — Masking Incompetency — Videos

For additional information and videos:

https://pronkpops.wordpress.com/2017/08/01/the-pronk-pops-show-938-august-1-2017-story-1-vice-president-on-the-trump-doctrine-in-speech-delivered-from-estonia-latvia-and-lithuania-videos-story-2-president-trump-will-sign-sanction/

 

The Pronk Pops Show 938

August 2, 2017

Story 1: Vice-President On The Trump Doctrine In Speech Delivered From Estonia, Latvia, and Lithuania — Videos —

Story 2: President Trump Will Sign Sanctions Bill For Russia, North Korea, and Islamic Republic of Iran — Videos —

Story 3: Washington War Fever with Neocon Republicans and Progressive Democrats United Against Russia — Masking Incompetency — Videos

For additional information and videos:

https://wordpress.com/post/pronkpops.wordpress.com/26453

July 29, 2017 12:49 PM PDT

The Pronk Pops Show 936

July 27, 2017

Story 1surprisedbama Spy Scandal: Obama Administration Officials Including National Security Adviser Rice, CIA Director Brennan and United Nations Ambassador Power Spied On American People and Trump Campaign By Massive Unmasking Using Intelligence Community For Political Purposes — An Abuse of Power and Felonies Under U.S. Law — Videos

For additional information and videos:

https://pronkpops.wordpress.com/2017/07/28/the-pronk-pops-show-936-story-1obama-spy-scandal-obama-administration-officials-including-national-security-adviser-rice-cia-director-brennan-and-united-nations-ambassador-power-spied-on-american/

July 28, 2017 07:12 PM PDT

The Pronk Pops Show 935

July 26, 2017

Story 1: Trump Targets Transgender Troops — No More Gender Reassignment Surgeries In Military and Veterans Hospital — Cuts Spending By Millions Per Year — What is Next? — No More Free Viagra — Tranny Boys/Girls No More — Videos —

Story 2: Senate Fails To Pass Senator Rand Paul’s Total Repeal Amendment — Tea Party Revival Calling For Primary Challenge Against Rollover Republican Senators Shelley Moore Capito of West Virginia, Susan Collins of Maine, Dick Heller of Nevada, John McCain of Arizona, Rob Portman of Ohio, Lamar Alexander of Tennessee and Lisa Murkowski of Alaska — All Republicans in Name Only — Really Big Government Democrats — Videos —

Story 3: Trump Rally in Ohio — Neither A Rally Nor A Movement Is Not A Political Party That Votes in Congress — New Viable and Winning American Independence Party Is What Is Needed –Videos

For additional information and videos:

https://wordpress.com/post/pronkpops.wordpress.com/26375

July 27, 2017 02:28 PM PDT

The Pronk Pops Show 934

July 26, 2017

Story 1: Pence Breaks Tie — Senate Will Debate How To Proceed With Obamacare Repeal and Replace — Videos —

Story 2: Congress Overwhelming Passes New Sanctions on Russia, Iran and North Korea — Long Overdue — Videos —

Story 3: Trump Again Critical Of Attorney General Sessions Apparently For Not Prosecuting Leakers and Going After Clinton Foundation Crimes — What about Obama Administration’s Spying On Trump — An Abuse of Power Using Intelligence Community for Political Purposes — Will Trump Dump Sessions? If He Does Trump Will Start To Lose His Supporters in Talk Radio and Voter Base — Direct Deputy Attorney Rod Rosenstein To Fire Mueller — If He Won’t Fire Him — Fire Both Mueller and Rosenstein —  Punish Your Enemies and Reward Your Friends President Trump! — “In Your Guts You Know He is Nuts” —  Videos

For additional information and videos:

https://pronkpops.wordpress.com/2017/07/25/the-pronk-pops-show-934-july-24-2017-breaking-breaking-story-1-pence-breaks-tie-senate-will-debate-how-to-proceed-with-obamacare-repeal-and-replace-videos-story-2-congress-overwhel/

 

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David Stockman — Right On The Money, Economy, Trump and The Warfare and Welfare State — You Have Been Warned — Videos

Posted on April 30, 2017. Filed under: American History, Banking, Blogroll, Books, British History, Business, Communications, Congress, conservatives, Constitution, Corruption, Crisis, Cult, Culture, Economics, Education, Elections, Employment, European History, Federal Government Budget, Fiscal Policy, Foreign Policy, Freedom, government spending, history, History of Economic Thought, Illegal, Immigration, Inflation, Investments, Islam, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, Middle East, Monetary Policy, Money, Money, Non-Fiction, People, Philosophy, Photos, Politics, Rants, Raves, Raymond Thomas Pronk, Speech, Strategy, Talk Radio, Tax Policy, Taxation, Taxes, Video, Wahhabism, War, Wealth, Welfare, Wisdom, Writing | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , |

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World’s Greatest Memory and Trump’s La la Land | David Stockman’s Warning

Published on Apr 29, 2017

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[youtube-https://www.youtube.com/watch?v=5exbO-Ros2Q]

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Stockman: Market Will Not Be Pretty Under Trump

[Ed. Note: To see exactly what this former Reagan insider has to say about Trump and specifically what he believes must be done to drain the swamp, David Stockman is sending out a copy of his book Trumped! A Nation on the Brink of Ruin… And How to Bring It Back out to any American willing to listen. To learn how to get your free copy CLICK HERE.]

As bonds break a three day win streak and the U.S market hitting new record highs with a trifecta of records, CNBC was roaring about what to expect going forward. The Daily Reckoning contributor David Stockman joined Courtney Reagan to discuss what to expect going forward.

After the CNBC host positioned the critiques offered by David Stockman of the Trump administration she asked whether that would continue given the state of the market. Stockman did not mix words beginning the conversation with, “What’s going on today is complete insanity. The market is apparently pricing in a huge Trump stimulus package, when if you just look at the real world out there the only thing that is going to happen is a fiscal bloodbath and a White House train wreck like never before in U.S history.

How much more evidence do these so called traders need? Trump is lost in Twitter-land and he is out of control. He is turning out to be a complete jackass in the Oval Office. Co-President Bannon is off the deep end on terrorism, travel bans, Mexican walls, immigrant bashing and protectionism.”

David Stockman is a former Reagan Administration official who was the Office of Management and Budget Director. He also served as a two-term Congressman from the great state of Michigan. His latest book, Trumped! A Nation on the Brink of Ruin… And How to Bring It Back is out now. It offers his insight and exclusive analysis on exactly what the newly elected president must do in order to succeed in the White House. To get your own FREE copy, CLICK HERE to learn how.

“[They are] having nothing to do with the economic agenda and Trump has got an empty economic bench. He’s got no Secretary of the Treasury, no Office of Management and Budget, no Council of Economic Advisor Chairman. By this time, when I was there with the Reagan Administration, the plan was ready to go and he was going to Congress within a couple of days into February. We have a debt ceiling freight train coming down the road which will hit March 15 and then the cash will start running out and the system will be on edge. All of the continuing resolutions expire in April.”

“They are going to spend the year trying to repeal and replace Obamacare and it will be a fiasco. Nothing is going to happen this year. I don’t even think they can pass the budget resolution. There is going to be no tax action this year. If there is any bill next year it is going to be deficit neutral. Which means it is not going to add $15 to earnings like these crazy people expect.”

“Why would you be trading in this market, with this kind of chaos emerging everywhere at twenty six times trailing earnings? That’s where we are. It is completely crazy and it is only a question of how many more days or weeks that this kind of fantasy land can last.”

David Stockman Market In Text 2

Courtney Reagan then pressed back asking, “At what point do you give in and admit that [Trump] is atypical but maybe he could get things done? I mean, look at all of the CEO’s that Trump has met with.” The former Reagan insider remarked that, “CEO’s come and go with every president. They came in with Reagan, they tell a president what they want to hear. These guys are just selling the song and dance about how many jobs they’re going to create in the next five years. They have no clue.”

“If we have a recession in the next five years, which surely we will, because recessions have not been outlawed and we haven’t had one for ten years. None of this stuff is going to happen. This is meaningless. What is meaningful is that Trump is out of control. This tweeting and getting off track on all of this terrorism stuff. This is a sign that there is going to be no governing coalition and that all of this fiscal stimulus expected by Wall Street is a complete fantasy. It can’t happen.”

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When CNBC then turned over the camera to a day trader who asked about the positive sentiment that exists within the market regarding Trump and his plan to deregulate Stockman stayed true to message. “Trump is just putting out press releases and the guise of Executive Orders. All of this stuff is going to get litigated, it goes through a rulemaking process, that takes years. So the relief on regulation will be important, but it way down the road and it won’t be that impactful.”

“The second thing, is we’re at 92 months in this expansion already. It is running out of gas. You can’t expect it to run forever. That is seemingly what is priced in by the market.”

“The third thing is, we have a giant debt and deficit problem. The debt ceiling is coming back into play it will be 20 trillion when it freezes in on March 15th. I’ll tell you this, people aren’t paying attention to the fact that Trump will never get a debt ceiling increase through the Congress without a government shutdown. When that happens it is, “bar the doors” because nobody is expecting it. We need to look at the facts, not the hopes.”

As the CNBC affirmed, it is not clear that the market is just going to drop tomorrow and history will repeat itself, Stockman repositioned. “The market it clearly factoring in a big Trump stimulus and I think anybody down there would admit if it doesn’t happen, if we get zero tax cuts, if we get a fiscal bloodbath in the Washington I am describing – the market is not going to stay where it is today at these absurd multiples of earnings.”

“This is all based on the idea that there is going to be a surge of economic growth and that profits are going to come back from about $89 a share by basis, where they were during the last twelve months, to a potential $110 or $130. My argument is there is not going to be any economic rebound. There is not going to be any profit surge. Therefore the market will be repricing dramatically downward once it is clear.”

Another CNBC analysis asked why – with the positive trends in jobless claims, manufacturing increasing, interest rates at near record lows – would the market not close out the year near record levels? “The market is assuming that profits are going to rebound. That we are not going to have any market dislocation and that nobody is going to be pushing back on Trump. It is hard to understand how people watching the day-to-day action down there could believe that.”

“Everybody is pushing back on Trump, he can’t even get his cabinet approved. He’s going to be bogged down in a Supreme Court fight, he’s going to be bogged down in a fight over a ridiculous travel ban. The idea that there is not going to be pushback is naive. What there is going to be is a train wreck. It is already clear that the people in the White House have no idea what they’re doing and it is only a matter of time before this honeymoon goodwill evaporates and the politicians get down to doing what they do best. Which is to undermine and obstruct anything that might be positive.”

When finally asked whether there is anything positive that would make him turn bullish in the near future he responded affirmably, “No, because Trump is inheriting thirty years of a disaster created by his predecessors. We have to take this $20 trillion of debt seriously. There is $10 trillion more built in under current policy, and that is without a dime of Trump tax cuts, infrastructure or stimulus. There is going to be a tremendous fiscal crisis in the years ahead which will prevent any of the kind of action that the “stimulus junkies” are looking for.

To catch the full interview with David Stockman on CNBC click here. If you would like to claim your own free copy of David Stockman’s bestseller Trumped! Click here to learn how.

Thanks for reading,

Craig Wilson, @craig_wilson7
for the Daily Reckoning

https://dailyreckoning.com/stockman-market-under-trump/

David Stockman

From Wikipedia, the free encyclopedia
David Stockman
David Stockman by Gage Skidmore.jpg
Director of the Office of Management and Budget
In office
January 21, 1981 – August 1, 1985
President Ronald Reagan
Preceded by Jim McIntyre
Succeeded by Jim Miller
Member of the U.S. House of Representatives
from Michigan‘s 4th district
In office
January 3, 1977 – January 21, 1981
Preceded by Edward Hutchinson
Succeeded by Mark Siljander
Personal details
Born David Alan Stockman
November 10, 1946 (age 70)
Fort Hood, Texas, U.S.
Political party Republican
Spouse(s) Jennifer Blei (1983–present)[1]
Education Michigan State University (BA)
Harvard University
Website Official website

David Alan Stockman (born November 10, 1946) is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.

Early life and education

Stockman was born in Fort Hood, Texas, the son of Allen Stockman, a fruit farmer, and Carol (née Bartz).[2] He is of German descent, and his family’s surname was originally “Stockmann”.[3] He was raised in a conservative family, and his maternal grandfather, William Bartz, was a Republican county treasurer for 30 years.[4][5] Stockman was educated at public schools in Stevensville, Michigan. He graduated from Lakeshore High School in 1964[6] and received a B.A. in History from Michigan State University in 1968. He was a graduate student at Harvard University, 1968–1970 studying theology

Political career

Stockman’s Congressional portrait

He served as special assistant to United States Representative and 1980 U.S. presidential candidate John Anderson of Illinois, 1970–1972, and was executive director, United States House of Representatives Republican Conference, 1972–1975.

Congress

Stockman was elected to the United States House of Representatives for the 95th Congress and was reelected in two subsequent elections, serving from January 3, 1977, until his resignation January 21, 1981, to accept appointment as Director of the Office of Management and Budget for U.S. President Ronald Reagan.

Office of Management and Budget

Stockman was one of the most controversial OMB directors ever appointed, also known as the “Father of Reaganomics.” He resigned in August 1985. Committed to the doctrine of supply-side economics, he assisted in the passing of the “Reagan Budget” (the Gramm-Latta Budget), which Stockman hoped would curtail the “welfare state“. He thus gained a reputation as a tough negotiator with House Speaker Tip O’Neill‘s Democratic-controlled House of Representatives and Majority Leader Howard Baker‘s Republican-controlled Senate. During this period, Stockman became well known to the public during the contentious political wrangling concerning the role of the federal government in American society.

Stockman’s influence within the Reagan Administration was weakened after the Atlantic Monthly magazine published the infamous 18,246 word article, “The Education of David Stockman”,[7] in its December 1981 issue, based on lengthy interviews Stockman gave to reporter William Greider.

Stockman was quoted as referring to Reagan’s tax act in these terms: “I mean, Kemp-Roth [Reagan’s 1981 tax cut] was always a Trojan horse to bring down the top rate…. It’s kind of hard to sell ‘trickle down.’ So the supply-side formula was the only way to get a tax policy that was really ‘trickle down.’ Supply-side is ‘trickle-down’ theory.”[7] Of the budget process during his first year on the job, Stockman was quoted as saying, “None of us really understands what’s going on with all these numbers,” which was used as the subtitle of the article.[7]

After “being taken to the woodshed by the president” because of his candor with Greider, Stockman became concerned with the projected trend of increasingly large federal deficits and the rapidly expanding national debt. On 1 August 1985, he resigned from OMB and later wrote a memoir of his experience in the Reagan Administration titled The Triumph of Politics: Why the Reagan Revolution Failed in which he specifically criticized the failure of congressional Republicans to endorse a reduction of government spending to offset large tax decreases to avoid the creation of large deficits and an increasing national debt.

Fiscal legacy

President Jimmy Carter’s last fiscal year budget ended with a $79.0 billion budget deficit (and a national debt of $907,701,000,000 [8] as of September 30, 1980), ending during the period of David Stockman’s and Ronald Reagan’s first year in office, on October 1, 1981.[9] The gross federal national debt had just increased to $1.0 trillion during October 1981 ($998 billion on 30 September 1981, up from $907.7 billion during the last full fiscal year of the Carter administration[8]).

By 30 September 1985, four and a half years into the Reagan administration and shortly after Stockman’s resignation from the OMB during August 1985, the gross federal debt was $1.8 trillion.[8] Stockman’s OMB work within the administration during 1981 until August 1985 was dedicated to negotiating with the Senate and House about the next fiscal year’s budget, executed later during the autumn of 1985, which resulted in the national debt becoming $2.1 trillion at fiscal year end 30 September 1986.[8] Reaganomics had just begun.

In 1981, Stockman received the Samuel S. Beard Award for Greatest Public Service by an Individual 35 Years or Under, an award given out annually by Jefferson Awards.[10]

Business career

After leaving government, Stockman joined the Wall St. investment bank Salomon Brothers and later became a partner of the New York–based private equity company, the Blackstone Group.[11]:125–127 His record was mixed at Blackstone, with some very good investments, such as American Axle, but also failures, including Haynes International and Republic Technologies.[11]:144–147 During 1999, after Blackstone CEO Stephen A. Schwarzman curtailed Stockman’s role in managing the investments he had developed,[11]:146 Stockman resigned from Blackstone to start his own private equity fund company, Heartland Industrial Partners, L.P., based in Greenwich, Connecticut.[12]

On the strength of his investment record at Blackstone, Stockman and his partners raised $1.3 billion of equity from institutional and other investors. With Stockman’s guidance, Heartland used a contrarian investment strategy, buying controlling interests in companies operating in sectors of the U.S. economy that were attracting the least amount of new equity: auto parts and textiles. With the help of about $9 billion in Wall Street debt financing, Heartland completed more than 20 transactions in less than 2 years to create four portfolio companies: Springs Industries, Metaldyne, Collins & Aikman, and TriMas. Several major investments performed very poorly, however. Collins & Aikman filed for bankruptcy during 2005 and when Heartland sold Metaldyne to Asahi Tec Corp. during 2006, Heartland lost most of the $340 million of equity it had invested in the business.[13]

Collins & Aikman Corp.

During August 2003, Stockman became CEO of Collins & Aikman Corporation, a Detroit-based manufacturer of automotive interior components. He was ousted from that job days before Collins & Aikman filed for bankruptcy under Chapter 11 on May 17, 2005.

Criminal and civil charges

On March 26, 2007, federal prosecutors in Manhattan indicted Stockman in “a scheme… to defraud [Collins & Aikman]’s investors, banks and creditors by manipulating C&A’s reported revenues and earnings.” The United States Securities and Exchange Commission also brought civil charges against Stockman related to actions that he performed while CEO of Collins & Aikman.[14] Stockman suffered a personal financial loss, over $13 million, along with losses suffered by as many as 15,000 Collins & Aikman employees worldwide.

Stockman said in a statement posted on his law firm’s website that the company’s end was the consequence of an industry decline, not due to fraud.[15] On January 9, 2009, the US Attorney’s Office announced that it did not intend to prosecute Stockman for this case.[16]

Web site

In March 2014 Stockman launched a web based daily periodical, David Stockman’s Contra Corner featuring both his own articles and those from leading contrarian thinkers on geopolitics, economics, and finance.

Personal life

Stockman lives in the Upper East Side of Manhattan in New York City.[12] He is married to Jennifer Blei Stockman and is the father of two children, Rachel and Victoria. Jennifer Blei Stockman is a chairwoman emerita of the Republican Majority for Choice,[17] and President of the Solomon R. Guggenheim Foundation Board of Trustees.[18] In 2013, Stockman signed an amicus brief to the Supreme Court in favor of same-sex marriage.[19]

Quotes

  • “[Social Security] has to be means-tested. And Medicare needs to be means-tested […] Let the Bush tax cuts expire. Let the capital gains go back to the same rate as ordinary income.”[20]
  • “The Republican Party has totally abdicated its job in our democracy, which is to act as the guardian of fiscal discipline and responsibility. They’re on an anti-tax jihad — one that benefits the prosperous classes.”[21]
  • “I invest in anything that Bernanke can’t destroy, including gold, canned beans, bottled water and flashlight batteries.”[22]
  • “Ninety-two percent of the wealth is owned by five percent of the people.” (Bloomberg TV 2013)
  • “[T]he Republican Party was hijacked by modern imperialists during the Reagan era. As a consequence, the conservative party cannot perform its natural function as watchdog of the public purse because it is constantly seeking legislative action to provision a vast war machine of invasion and occupation.” [23]

Bibliography

  • The Reagan Economic Plan, 1981
  • The Triumph of Politics: Why the Reagan Revolution Failed, Harper & Row, 1986, ISBN 9780060155605
  • The Great Deformation: The Corruption of Capitalism in America, PublicAffairs, 2013, ISBN 9781586489120
  • Trumped!: A Nation on the Brink of Ruin, and How to Bring it Back, 2016

References

  1. Jump up^ “LOSING THE BATTLES AND WINNING THE WAR”. Lexington Herald-Leader. April 7, 1985.
  2. Jump up^ Hunter, Marjorie (December 12, 1980). “Office of Management and Budget David Alan Stockman; Strong Support From Kemp Chosen by House Republicans Views on Economy”. The New York Times.
  3. Jump up^ “News65”. 19 June 1998.
  4. Jump up^ “The Tuscaloosa News – Google News Archive Search”.
  5. Jump up^ “The Montreal Gazette – Google News Archive Search”.
  6. Jump up^ Heibutzki, Ralph (2012-06-04). “Stockman Surprise Speaker at Lakeshore’s Graduation”. The Herald-Palladium. Retrieved 2012-06-04.
  7. ^ Jump up to:a b c William Greider (December 1981). “The Education of David Stockman”. The Atlantic Online.
  8. ^ Jump up to:a b c d Treasury Department’s Historical Debt Outstanding – Annual 1950 – 1999
  9. Jump up^ Office of Management and Budget Historical Tablessee Table 1.1 (Excel Spreadsheet)
  10. Jump up^ “Jefferson Awards”. Jefferson Awards.
  11. ^ Jump up to:a b c David Carey & John E. Morris (2001). King of Capital: The Remarkable Rise, Fall and Rise Again of Steve Schwarzman and Blackstone. Crown.
  12. ^ Jump up to:a b “Collins & Aikman seeks to emerge from bankruptcy,” Bloomberg News article by Jeff Bennett, published in the newspaper The Advocate of Stamford and (identical version, perhaps with changes by the local editor in the common business section for both newspapers) in the Greenwich Time on September 5, 2006, page A7, The Advocate
  13. Jump up^ David Carey and Lou Whiteman, “PE firms find buyer for Metaldyne,” The Deal, Sept. 1, 2006.
  14. Jump up^ Levin, Doris (29 March 2007). “Stockman Outsmarts Self in Detroit”. Bloomberg. Retrieved 19 September 2014.
  15. Jump up^ “Ex-Collins Chief David Stockman Charged With Fraud (Update10)”. Bloomberg. March 26, 2007. Retrieved 2010-08-02.
  16. Jump up^ “Fraud charges dropped against ex-Reagan aide David Stockman”. Chicago Tribune. 10 January 2009. Retrieved 19 September 2014.
  17. Jump up^ About Us Republican Majority for Choice
  18. Jump up^ Trustees, Solomon R. Guggenheim Foundation
  19. Jump up^ [1]
  20. Jump up^ “Why David Stockman Isn’t buying it”. CBS News. March 2, 2012.
  21. Jump up^ Dickinson, Tim (Nov 9, 2011). “How the GOP Became the Party of the Rich”. Rolling Stone. Retrieved 2011-11-10.
  22. Jump up^ David Stockman: I Invest In Anything Bernanke Can’t Destroy, John Carney, CNBC, October 6, 2010
  23. Jump up^ Stockman, David (2013). The Great Deformation — the corruption of capitalism in America. PublicAffairs. p. 688. ISBN 978-1586489120.

External links

United States House of Representatives
Preceded by
Edward Hutchinson
Member of the U.S. House of Representatives
from Michigan’s 4th congressional district

1977–1981
Succeeded by
Mark Siljander
Political offices
Preceded by
Jim McIntyre
Director of the Office of Management and Budget
1981–1985
Succeeded by
Jim Miller
Read Full Post | Make a Comment ( None so far )

Progressive Interventionist Neoconservative Warmonger Senator John McCain — Let The NATO Nations Defend Themselves and Pay For Their Own Defense — Progressive Democrats and Republicans Have Given The American People The Warfare and Welfare State and Replaced The Constitutional American Republic With A Declining and Falling American Empire of The Two Party Tyranny — $20 Trillion in Debt and Unfunced Liabilities Exceeding $210 Trillion and Growing — A Day of Reckoning — United States Is Bankrupt — Steve Bannon and President Trump Know It — Videos

Posted on March 16, 2017. Filed under: Articles, Banking, Blogroll, Books, Business, Communications, Computers, Congress, conservatives, Constitution, Corruption, Culture, Demographics, Diasters, Documentary, Economics, History of Economic Thought, Investments, Macroeconomics, Microeconomics, Monetary Policy, Money, Non-Fiction, Technology, Unemployment, Video, War, Wealth, Weather, Welfare, Wisdom, World War II, Writing | Tags: , , , , , , , , , , , , , , , , , , , , , , |

 “It is our true policy to steer clear of permanent alliance with any portion of the foreign world”

~George Washington

 “Peace, commerce, and honest friendship with all nations-entangling alliances with none.”

~Thomas Jefferson

Image result for quotes george washington on steer clear of permanent alliancesImage result for quotes george washington on alliances

Image result for NATO map

Image result for NATO list of countries and date joined

Image result for NATO list of countries and date joined

Image result for NATO list of countries and date joined

Image result for NATO list of countries and date joined

Image result for quotes george washington on alliances

Image result for quotes george washington on alliancesImage result for thomas jefferson on debt burdening future generationsImage result for thomas jefferson on debt burdening future generations

National Debt Clock

Image result

Sen McCain on Sen. Paul: “The Senator from Kentucky is now working for Vladimir Putin.” (C-SPAN)

Rand Paul ‘John McCain is proof we need term limits’

[youtube3=https://www.youtube.com/watch?v=AGT4wCmKjas]

RAND PAUL VS. JOHN MCCAIN: RAND REACTS TO MCCAIN’S RUSSIAN AGENT CLAIM!!

Rand Paul: McCain ‘past his prime,’ maybe ‘unhinged’

Pence: Time For Allies To Pay Fair Share For NATO

Other NATO members need to pay their fair share?

Trump complains at NATO countries for not paying defense share

Congressman Ron Paul, MD – We’ve Been NeoConned

Steve Bannon Lays Out His AMAZING Political Philosophy

Published on Nov 18, 2016

Speech by Stephen K. Bannon (Steve Bannon), Donald Trump’s senior strategic advisor and architect of his winning 2016 election. In this speech delivered to the Liberty Restoration Foundation, Bannon layed out the poliitical philosophy both he and Trump embrace, and which appealed to the American people in the election. It is conservative, perhaps explaining why the political liberal left has resorted to evidently incorrect allegations of antisemitism or racism to try to derail his appointment. Bannon was a Hollywood producer who invested in the Seinfeld comedy TV series, and later became the chair of the Brietbart News Service, expanding it into one of the leading news sources nationally, as an alternative to liberal media outlets that previously dominated US media. He joined the Trump campaign in June 2016, leading him to victory and the White House. Do you think that Bannon is racist, as the democrats have alleged?

Deficits, Debts and Unfunded Liabilities: The Consequences of Excessive Government Spending

Uploaded on May 10, 2010

Huge budget deficits and record levels of national debt are getting a lot of attention, but this video explains that unfunded liabilities for entitlement programs are Americas real red-ink challenge. More important, this CF&P mini-documentary reveals that deficits and debt are symptoms of the real problem of an excessive burden of government spending. http://www.freedomandprosperity.org

III – Unfunded Liabilities

Rhett Talks – Is the United States Bankrupt?

Laurence Kotlikoff at MTSU November 5, 2015

‘US hides real debt, in worse shape than Greece’

Unfunded Liabilities: James Cox of Silver Bullion interviews Professor Kotlikoff

The Actual Fiscal Gap Is Approximately $210 Trillion Dollars With All The Unfunded Liabilities, The Average Person, Every Man, Woman, And Child Owes……$666,666.667

8 years ago, when Obama took office, the Debt Clock was at 9 TRILLION Dollars.
Today, the US Debt Clock at almost 20 TRILLION Dollars.
http://www.usdebtclock.org/

This is an 87% increase.

The actual Fiscal Gap is approximately $210 TRILLION Dollars.
with all the unfunded liabilities.

With the population of the US is over 315 MILLION People, this means that the average person, every man, woman, and child owes……$666,666.667

Where does this lead?
Look at Brazil, Argentina, Cyprus, Greece, Italy,……

Who ends up with the bill?
THE TAXPAYER!

http://investmentwatchblog.com/the-actual-fiscal-gap-is-approximately-210-trillion-dollars-with-all-the-unfunded-liabilities-the-average-person-every-man-woman-and-child-owes-666666-667/

17 Nobel Laureates and 1200+ Economists Agree with Ben Carson re U.S. Fiscal Gap

I cover economics, personal, national, and international.

Michelle Lee, a fact checker with the Washington Post, just posted a long and, to my mind, highly political column. Her column, read carefully, undermines Presidential candidate Ben Carson’s absolutely correct claim, made in announcing his candidacy, that the true measure of U.S. fiscal debt is not the $13 trillion our government reports as its debt. Instead, our true debt is over $200 trillion. Obviously, most of this true debt has been kept off the books by our politicians.

In this column, I’m going to defend Dr. Carson’s statement. But I want to point out that I don’t know Dr. Carson. I have never spoken with him. And I don’t yet know enough about Dr. Carson’s positions to have a view about his overall suitability for President. I am, however, impressed that out of the gate he is talking about the right measure of our nation’s fiscal condition.

I spoke at length to Michelle Lee prior to her writing her column. She told me she was a fact checker. But when fact checking turns into disguised political commentary, there’s a problem. Fact checkers are supposed to check the facts with experts. When it comes to economics, the experts are PhD economists, not political organizations or people, without real economics training, parading as economists, both of which she quotes in undermining Dr. Carson’s credibility.

Now let me turn to the substance. In referring to $211 trillion in unfunded mandates, Dr. Carson was referencing my calculation of the U.S. fiscal gap. As I explained in a NY Times op ed, the U.S. fiscal gap is $210 trillion. So Dr. Carson was off by $1 trillion – by less than one half of one percent.

The fiscal gap is the present value of all projected future expenditures less the present value of all projected future taxes. The fiscal gap is calculated over the infinite horizon. But since future expenditures and taxes far off in the future are being discounted, their contribution to the fiscal gap is smaller the farther out one goes. The $210 trillion figure is based on the Congressional Budget Office’s July 2014 Alternative Fiscal Scenario projections, which I extended beyond their 75-year horizon.

Dr. Carson referenced $211 trillion as the size of “unfunded mandates.” Michelle Lee correctly points out that Dr. Carson was referencing the U.S. fiscal gap, not the present value of mandatory spending. What she knew (because I told her), but failed to say, is that the present value of mandatory spending is far larger than $210 trillion because the fiscal gap is a net, not a gross number.

Michelle Lee is not a PhD economist. Nor is Bruce Barlett, whose truly absurd statement about the debt being an asset she quotes. Yes, it’s an asset, but it’s an asset that young and future generations must pay off. Social Security benefits are also an asset to their recipients, but again, they must be paid off by people who aren’t getting the benefits.

Michelle Lee apparently takes Bruce Bartell’s views more seriously than the views of 17 Nobel Laureates in economics and over 1200 PhD economists from MIT, Harvard, Stanford, Chicago, Berkeley, Yale, Columbia, Penn, and lesser known universities and colleges around the country. Each of these economists has endorsed The Inform Act, a bi-partisan bill that requires the CBO, GAO, and OMB to do infinite horizon fiscal gap accounting on a routine and ongoing basis.

https://www.forbes.com/sites/kotlikoff/2015/05/13/17-nobel-laureates-and-1200-economists-agree-with-ben-carson-re-u-s-fiscal-gap/#46c13e954d17

National Debt

What You’ll Find

Comprehensive and meticulously documented facts about the national debt. Learn about various measures of the national debt, contributing factors, consequences, and more. For example:


Citation Generator

Introductory Notes

In keeping with the practice of the Congressional Budget Office and other federal agencies that deal with budget policy, many of the federal debt, spending, and revenue figures in this research are expressed as a portion of gross domestic product (GDP). This is because debates about the size of government and the effects of its debt are frequently centered upon how much of a nation’s economy is consumed by government. This measure also accounts for population growth, some of the effects of inflation, and the relative capacity of government to service its debt.

However, the federal government does not have the entire U.S. economy at its disposal to service federal debt. The private sector, which produces the goods and services that comprise most of the economy, utilizes some of these resources, and local and state governments also consume some of the nation’s GDP. Hence, this research sometimes expresses federal debt as a portion of annual federal revenues. This is a more direct measure of the federal government’s capacity to service its debt.

In keeping with Just Facts’ Standards of Credibility, all graphs in this research show the full range of available data, and all facts are cited based upon availability and relevance, not to slant results by singling out specific years that are different from others.

Click here for a video that summarizes some of the key facts in this research.

Quantifying the National Debt

* As of March 1, 2017, the official debt of the United States government is $19.9 trillion ($19,920,418,771,289).[1] This amounts to:

  • $61,365 for every person living in the U.S.[2]
  • $158,326 for every household in the U.S.[3]
  • 106% of the U.S. gross domestic product.[4]
  • 560% of annual federal revenues.[5]
Debt as a Portion of the Economy

[6]

* Publicly traded companies are legally required to account for “explicit” and “implicit” future obligations such as employee pensions and retirement benefits.[7] [8] [9] The federal budget, which is the “government’s primary financial planning and control tool,” is not bound by this rule.[10] [11]

* At the close of the federal government’s 2016 fiscal year (September 30, 2016), the federal government had roughly:

  • $8.5 trillion ($8,542,000,000,000) in liabilities that are not accounted for in the publicly held national debt, such as federal employee retirement benefits, accounts payable, and environmental/disposal liabilities.[12]
  • $29.0 trillion ($29,038,000,000,000) in obligations for current Social Security participants above and beyond projected revenues from their payroll and benefit taxes, certain transfers from the general fund of the U.S. Treasury, and assets of the Social Security trust fund.[13] [14]
  • $32.9 trillion ($32,900,000,000,000) in obligations for current Medicare participants above and beyond projected revenues from their payroll taxes, benefit taxes, premium payments, and assets of the Medicare trust fund.[15] [16]

* The figures above are determined in a manner that approximates how publicly traded companies are required to calculate their liabilities and obligations.[17] [18] [19] The obligations for Social Security and Medicare represent how much money must be immediately placed in interest-bearing investments to cover the projected shortfalls between dedicated revenues and expenditures for all current participants in these programs (both taxpayers and beneficiaries).[20] [21] [22]

* Combining the figures above with the national debt and subtracting the value of federal assets, the federal government had about $84.3 trillion ($84,306,000,000,000) in debts, liabilities, and unfunded obligations at the close of its 2016 fiscal year.[23]

* This $84.3 trillion shortfall is 93% of the combined net worth of all U.S. households and nonprofit organizations, including all assets in savings, real estate, corporate stocks, private businesses, and consumer durable goods such as automobiles and furniture.[24] [25]

* This shortfall equates to:

  • $260,382 for every person living in the U.S.[26]
  • $670,058 for every household in the U.S.[27]
  • 451% of the U.S. gross domestic product.[28]
  • 2,370% of annual federal revenues.[29]

* These figures do not account for the future costs implied by any current policies except those of the Social Security and Medicare programs.[30]

* These figures are based upon current federal law and “a wide range of complex assumptions” made by federal agencies.[31] Regarding this:

  • The Board of Social Security Trustees has stated that “significant uncertainty” surrounds the “best estimates” of future circumstances.”[32]
  • The Board of Medicare Trustees has stated that the program’s financial projections “are highly uncertain, especially when looking out more than several decades.”
  • The Board of Medicare Trustees has stated that the program’s long-term costs may be “substantially higher” than projected under current law. This is because current law includes the effects of the Affordable Care Act, which will cut Medicare prices for “many” healthcare services to “less than half of their level” under prior law. Per the Trustees:
Absent an unprecedented change in health care delivery systems and payment mechanisms, the prices paid by Medicare for health services will fall increasingly short of the costs of providing these services. … Before such an outcome would occur, lawmakers would likely intervene to prevent the withdrawal of providers from the Medicare market and the severe problems with beneficiary access to care that would result.[33]

Causes of the National Debt

Spending and Taxes

Current Expenditures and Receipts

† To measure the entirety of government expenditures and receipts, “total” instead of “current” figures are preferable, but such data (shown in the next graph) only extends back to 1960.[34]

‡ In 2015, receipts consisted of: 97% taxes; 2% premiums, settlements, donations, fines, fees, & penalties; 1% interest & dividends.[35]

[36]

* Data from the graph above:

Year Receipts
(Portion of GDP)
Expenditures
(Portion of GDP)
1930 3% 3%
1940 8% 9%
1950 16% 16%
1960 17% 17%
1970 17% 20%
1980 19% 22%
1990 18% 22%
2000 20% 19%
2010 16% 25%
2015 19% 22%

Total Expenditures and Receipts

[37]

* Data from the graph above:

Year Receipts
(Portion of GDP)
Expenditures
(Portion of GDP)
1960 18% 19%
1970 18% 21%
1980 19% 23%
1990 18% 22%
2000 20% 19%
2010 16% 27%
2015 19% 22%

Spending Distribution

Current Expenditures by Function

† Social programs include income security, healthcare, education, housing, and recreation.

‡ National defense includes military spending and veterans’ benefits.

§ General government and debt service includes the executive & legislative branches, tax collection, financial management, and interest payments.

# Economic affairs includes transportation, general economic & labor affairs, agriculture, natural resources, energy, and space. (This excludes spending for infrastructure projects such as new highways, which is not accounted for in this graph.[38])

£ Public order and safety includes police, fire, law courts, prisons, and immigration enforcement.

[39]

* Data from the graph above:

Category Portion of Total Federal Spending
1960 1970 1980 1990 2000 2010 2015
Social Programs 21% 32% 45% 44% 54% 61% 63%
National Defense 53% 42% 26% 25% 19% 20% 19%
General Government & Debt Service 19% 18% 21% 25% 21% 13% 13%
Economic Affairs & Infrastructure 6% 7% 7% 5% 5% 4% 4%
Public Order & Safety 0% 0% 1% 1% 1% 1% 1%

Tax Distribution

Effective Tax Rates by Income

NOTE: This data does not account for 7% of federal revenues that could not be allocated to households by income group.

[40]

* Data from the graph above:

Average Effective Federal Tax Burdens (2013)
Income Group Household Income Tax Rate Taxes Paid
Lowest 20% $25,400 3.3% $838
Second 20% $47,400 8.4% $3,982
Middle 20% $69,700 12.8% $8,922
Fourth 20% $103,700 17.0% $17,629
Highest 20% $265,000 26.3% $69,695

* Breakdown of the highest 20%:

Income Group Household Income Tax Rate Taxes Paid
81st – 90th $147,100 20.7% $30,450
91st – 95th $201,400 23.0% $46,322
96th – 99th $326,800 26.3% $85,948
Top 1 % $1,571,600 34.0% $534,344

Consequences

* As detailed in publications of the Congressional Budget Office, the Brookings Institution, and Princeton University Press, the following are some potential consequences of unchecked government debt:

  • reduced “future national income and living standards.”[41] [42] [43]
  • “reductions in spending” on “government programs.”[44]
  • “higher marginal tax rates.”[45]
  • “higher inflation” that increases “the size of future budget deficits” and decreases the “the purchasing power” of citizens’ savings and income.”[46] [47]
  • restricted “ability of policymakers to use fiscal policy to respond to unexpected challenges, such as economic downturns or international crises.”[48]
  • “losses for mutual funds, pension funds, insurance companies, banks, and other holders of federal debt.”[49]
  • increased “probability of a fiscal crisis in which investors would lose confidence in the government’s ability to manage its budget, and the government would be forced to pay much more to borrow money.”[50] [51]

* In 2012, the Journal of Economic Perspectives published a paper about the economic consequences of government debt. Using 2,000+ data points on national debt and economic growth in 20 advanced economies (such as the United States, France, and Japan) from 1800–2009, the authors found that countries with national debts above 90% of GDP averaged 34% less real annual economic growth than when their debts were below 90% of GDP.[52]

* The United States exceeded a debt/GDP level of 90% in the second quarter of 2010.[53]

* Per the textbook Microeconomics for Today:

GDP per capita provides a general index of a country’s standard of living. Countries with low GDP per capita and slow growth in GDP per capita are less able to satisfy basic needs for food, shelter, clothing, education, and health.[54]

* In 2013, the Political Economy Research Institute at the University of Massachusetts, Amherst, published a working paper about the economic consequences of government debt. Using data on national debt and economic growth in 20 advanced economies from 1946-2009, the authors found that countries with national debts over 90% of GDP averaged:

  • 31% less real annual economic growth than countries with debts from 60% to 90% of GDP,
  • 29% less real annual economic growth than countries with debts from 30% to 60% of GDP,
  • and 48% less real annual economic growth than countries with debts from 0% to 30% of GDP.[55]

* The authors of the above-cited papers have engaged in a heated dispute about the results of their respective papers and the effects of government debt on economic growth. Facts about these issues can be found in the Just Facts Daily article, “Do large national debts harm economies?

Politics

Responsibility

* The U.S. Constitution vests Congress with the powers to tax, spend, and pay the debts of the federal government. Legislation to carry out these functions must either be:

  • passed by majorities in both houses of Congress and approved by the President; or
  • passed by majorities in both houses of Congress, vetoed by the President, and then passed by two-thirds of both houses of Congress; or
  • passed by majorities in both houses of Congress and left unaddressed by the President for ten days.[56]

* Other factors impacting the national debt include but are not limited to legislation passed by previous congresses and presidents,[57] economic cycles, terrorist attacks, natural disasters, demographics, and the actions of U.S. citizens and foreign governments.[58]


Current Policies

* In 2014, the Congressional Budget Office (CBO) projected the debt that the U.S. government would accumulate under current federal policies.[59] The projection used the following assumptions:

  • Unemployment will incrementally decline from 6.8% in 2014 to 5.8% in 2018 and 5.3% in 2027, where it will remain thereafter.[60] (For reference, the average of the previous 40 years is 6.5%.[61])
  • GDP growth will incrementally decline from an average rate of 3.4% above the rate of inflation in 2015 to 1.9% in 2021 and remain constant thereafter.[62] (The average of the previous 40 years is 2.9%.[63])
  • Federal revenues (i.e., taxes) will incrementally increase from 17.4% of GDP in 2014 to 18.0% in 2024 and remain constant thereafter.[64] (The average of the previous 40 years is 17.4%.[65])
  • Federal spending will incrementally increase from 20.4% of GDP in 2014 to 23.6% in 2025 and 31.8% in 2040.[66] (The average of the previous 40 years is 20.5%.[67])
  • Payments for Medicare services will undergo scheduled reductions that would likely cause “severe problems with beneficiary access to care.”[68] [69]

* Combining these projections with historical data yields the following results:

Revenues and Spending Under Current Policies

[70]

Debt Under Current Policies

† To measure the entirety of the national debt, it would be preferable to show “gross” debt instead of “publicly held” debt, but this data is not presented in this report. Nonetheless, it would make little difference because the excluded debt primarily resides in federal government trust funds that dwindle and become insolvent during the projection period.[71] Facts regarding why and how the federal government keeps its books in this manner are covered in the section of this research entitled “Government Accounting.”

[72]

* Per CBO, postponing action to stabilize the debt will:

  • punish younger generations of Americans, because most of the burden would fall on them.
  • reward older generations of Americans, because “they would partly or entirely avoid the policy changes needed to stabilize the debt.”
  • “substantially increase the size of the policy adjustments needed to put the budget on a sustainable course.”[73] [74]

* The following Ph.D. economists and political scientists have claimed that the level of national debt during World War II is a good reason to not be overly concerned about the modern national debt:

  • Paul Davidson, editor of the Journal of Post Keynesian Economics and author of The Keynes Solution: The Path to Global Economic Prosperity:[75]
Rather than bankrupting the nation, this large growth in the national debt [during World War II] promoted a prosperous economy. By 1946, the average American household was living much better economically than in the prewar days. Moreover, the children of that Depression–World War II generation were not burdened by having to pay off what then was considered a huge national debt. Instead, for the next quarter century, the economy continued on a path of unprecedented economic growth and prosperity….[76]
  • Douglas J. Amy, professor of politics at Mount Holyoke College:[77]
Conservatives are also wrong when they argue that deficit spending and a large national debt will inevitably undermine economic growth. To see why, we need to simply look back at times when we have run up large deficits and increased the national debt. The best example is World War II when the national debt soared to 120% of GDP—nearly twice the size of today’s debt. This spending not only got us out of the Great Depression but set the stage for a prolonged period of sustained economic growth in the 50s and 60s.[78]
  • Paul Krugman, Nobel Prize-winning economist and Princeton University professor:[79]
Right now, federal debt is about 50% of GDP. So even if we do run these deficits, federal debt as a share of GDP will be substantially less than it was at the end of World War II.
Again, the debt outlook is bad. But we’re not looking at something inconceivable, impossible to deal with; we’re looking at debt levels that a number of advanced countries, the U.S. included, have had in the past, and dealt with.[80]

* In the 40 years that followed the end of World War II (1946–1985):

  • federal spending as a percent of GDP averaged 42% lower than the last year of the war.[81]
  • publicly held debt as a percent of GDP decreased by 72 percentage points.[82]

* In 2010, around the time when the statements above were written, the Congressional Budget Office projected that under current policy and a sustained economic recovery over the next 40 years:

  • federal spending as a percent of GDP will average over 78% higher than in the four decades that followed World War II.[83]
  • publicly held debt as a percent of GDP will rise by 277 percentage points.[84]

Alternative Policies

* As alternatives to the CBO’s current policy projections detailed above, the CBO also ran projections for scenarios such as these:

1) Current law:[85]

  • Federal revenues will incrementally increase from 17.6% of GDP in 2014 to 18.0% in 2020, 19.9% in 2044, and 23.5% in 2084.[86] [87] At this point, federal revenues (i.e., taxes) will be 35% higher than the average of the previous 40 years.[88]
  • Federal spending on all government functions will incrementally increase from 20.4% of GDP in 2014 to 21.5% in 2020, and 26.0% in 2040.[89] At this point, spending will be 27% higher than the average of the previous 40 years.[90]
  • Payments for Medicare services will undergo reductions that will likely cause “severe problems with beneficiary access to care.”[91] [92]

2) Republican Congressman Paul Ryan’s 2014 budget resolution, called the “The Path to Prosperity”:[93]

  • Starting in 2024, Medicare beneficiaries will have a choice to enroll in private plans paid for by Medicare or remain in the traditional Medicare program.[94] Also starting in 2024, the eligibility age for Medicare benefits will incrementally rise to correspond with Social Security’s retirement age.[95] Compared to the projections under the current policy scenario, Medicare spending will be 0.5% lower in 2016, 2% lower in 2020, and 4% lower in 2024.[96]
  • Federal Medicaid spending will be converted to an “allotment that each state could tailor to meet its needs, indexed for inflation and population growth.”[97] The expansion of Medicaid manadated by the Affordable Care Act (a.k.a. Obamacare) will be repealed.[98] Compared to the projections under the current policy scenario, Medicaid spending will be 9% lower in 2016, 19% lower in 2020, and 24% lower in 2024.[99]
  • All federal spending related to Obamacare’s exchange subsidies will be repealed.[100]
  • Spending on all government functions except for interest payments on the national debt will incrementally decline from 18.9% of GDP in 2015 to 16% in 2025 before increasing to 16.4% in 2035.[101] (The average of the previous 40 years is 18.3%).[102]
  • Revenues will increase from 18.2% of GDP in 2015 to 18.4% in 2025, 19% in 2032 and stay constant thereafter.[103] (The average of the previous 40 years is 17.4%.[104])

* Combining historical data on the national debt with CBO’s projections for current policy, current law, and the Ryan plan yields the following results:

Debt Under Different Policies

[105] [106]


Public Opinion

* A poll conducted by NBC News and the Wall Street Journal in February 2011 found that:

  • 80% of Americans are concerned “a great deal” or “quite a bit” about federal budget deficits and the national debt.
  • if the deficit cannot be eliminated by cutting wasteful spending, 35% of Americans prefer to cut important programs while 33% prefer to raise taxes.
  • 22% think cuts in Social Security spending will be needed to “significantly reduce the federal budget deficit,” 49% do not, and 29% have no opinion or are not sure.
  • 18% think cuts in Medicare spending will be needed to “significantly reduce the federal budget deficit,” 54% do not, and 28% have no opinion or are not sure.[107]

* Other than interest on the national debt, most of the long-term growth in federal spending (as a percent of GDP) under the CBO’s current policy and current law scenarios stems from Social Security, Medicare, Medicaid, the Children’s Health Insurance Program, and Affordable Care Act (a.k.a. Obamacare) subsidies.[108]

* A poll conducted in November 2010 by the Associated Press and CNBC found that:

  • 85% of Americans are worried that the national debt “will harm future generations.”
  • 56% think “the shortfalls will spark a major economic crisis in the coming decade.”
  • when asked to choose between two options to balance the budget, 59% prefer to cut unspecified government services, while 30% prefer to raise unspecified taxes.[109]

* A poll conducted in July 2005 by the Associated Press and Ipsos found that:

  • 70% of Americans were worried about the size of the federal deficit.
  • 35% were willing to cut government spending.
  • 18% were willing to raise taxes.
  • 1% were willing to cut government spending and raise taxes.[110]

Congresses

* During the first session of the 113th Congress (January–December 2013), U.S. Representatives and Senators introduced 168 bills that would have reduced spending and 828 bills that would have raised spending.[111]

* The table below quantifies the costs and savings of these bills by political party. This data is provided by the National Taxpayers Union Foundation:

Costs/Savings of Bills Sponsored or Cosponsored

in 2013 by Typical Congressman (in Billions)

Increases Decreases Net Agenda
House Democrats $407 $10 $397
Senate Democrats $22 $3 $18
House Republicans $9 $91 -$83
Senate Republicans $6 $165 -$159

[112] [113]

* Click here to look up any member of Congress and see the annual costs or savings from the legislation he or she has sponsored or cosponsored.

* The table below quantifies the net agendas of the political parties in previous Congresses:

Costs/Savings of Bills Sponsored or Cosponsored in the First

Sessions of Congress by Typical Congressman (in Billions)

2011 2009 2007 2005 2003 2001 1999
House Democrats $497 $500 $547 $547 $402 $262 $34
Senate Democrats $24 $134 $59 $52 $174 $88 $15
House Republicans -$130 -$45 $7 $12 $31 $20 -$5
Senate Republicans -$239 $51 $7 $11 $26 $19 -$324
NOTE: Data not adjusted for inflation.

[114]


Presidents

* In February 2001, Republican President George W. Bush stated:

Many of you have talked about the need to pay down our national debt. I listened, and I agree. We owe it to our children and grandchildren to act now, and I hope you will join me to pay down $2 trillion in debt during the next 10 years. At the end of those 10 years, we will have paid down all the debt that is available to retire. That is more debt, repaid more quickly than has ever been repaid by any nation at any time in history.[115]

* From the time that Congress enacted Bush’s first major economic proposal (June 7, 2001[116]) until the time that he left office (January 20, 2009), the national debt rose from 53% of GDP to 74%, or an average of 2.7 percentage points per year.[117]

* During eight years in office, President Bush vetoed 12 bills, four of which were overridden by Congress and thus enacted without his approval.[118] These bills were projected by the Congressional Budget Office to increase the deficit by $26 billion during 2008–2022.[119]


* In February 2009, Democratic President Barack Obama stated:

I refuse to leave our children with a debt that they cannot repay—and that means taking responsibility right now, in this administration, for getting our spending under control.[120]

* From the time that Congress enacted Obama’s first major economic proposal (February 17, 2009[121]) until September 30, 2016, the national debt rose from 74% of GDP to 105%, or an average of 4.0 percentage points per year.[122]

* As of November 4, 2016, President Obama has vetoed twelve bills, one of which has been overridden by Congress and thus enacted without his approval.[123] This bill is projected by the Congressional Budget Office to “have no significant effect on the federal budget.”[124]

Government Accounting

Trust Funds and the Two Main Categories of Debt

* Some federal programs (such as Social Security) have “trust funds” that are legally separated from the rest of the federal government.[125]

* When these programs spend less than the federal government allocates to them, their surpluses are loaned to the federal government. This creates a legal obligation for the federal government to pay money and interest to these programs, thus adding to the national debt.[126] [127] [128] [129] [130]

* The federal government divides the national debt into two main categories:[131] [132]

  1. Money that it owes to federal entities such as the Social Security program.
  2. Money that it owes to non-federal entities such as individuals, corporations, local governments, and foreign governments.[133] Also, money owed to the Federal Reserve is classified under this category, even though the Federal Reserve is a federal entity.[134] [135]

NOTE: Just Facts has identified numerous instances in which politicians and journalists have used terms that technically refer to the overall national debt, when in fact, they are only referring to a portion of it. In order to clear up some of the confusion this has created, below are common terms for the national debt categorized by their proper meanings:

  • Overall national debt: gross debt, federal debt, public debt[136]
  • Portion of the national debt owed to federal entities: debt held by government accounts, government-held debt, intragovernmental holdings[137] [138] [139]
  • Portion of the national debt owed to non-federal entities: debt held by the public, publicly held debt[140][141]

* On September 30, 2016, the national debt consisted of:

  • $5.4 trillion owed to federal entities
  • $14.2 trillion owed to non-federal entities
  • $19.6 trillion owed in total[142]

* The federal law that governs the repayment of the national debt draws no distinction between the debt owed to federal and non-federal entities. Both must be repaid with interest.[143]

* The White House Office,[144] [145] Congressional Budget Office,[146] and other federal agencies[147] sometimes exclude the debt owed to federal entities in their reckonings of the national debt because this portion of the debt “represents internal transactions of the government and thus has no effect on credit markets.”

* Federal programs to which this money is owed, such as Social Security and Medicare, include this money and the interest it generates in their assets and financial projections.[148] [149] [150]

* In the 2000 presidential race, the Gore-Liebermann campaign released a 192-page economic plan that contains over 150 uses of the word “debt.” In none of these instances does the plan mention or account for any of the debt owed to federal entities.[151] The same plan includes the debt owed to federal entities in the assets of the Social Security and Medicare programs.[152]


“Deficits” and “Surpluses”

* During the federal government’s 2010 fiscal year (October 1, 2009 to September 30, 2010[153]), the national debt rose from $12.0 trillion to $13.6 trillion, thus increasing by $1.6 trillion.[154]

* The White House,[155] USA Today,[156] Reuters,[157] and other government and media entities reported that the 2010 federal “deficit” was $1.3 trillion.

* The difference between the national debt increase of $1.6 trillion and the reported deficit of $1.3 trillion is attributable to the following accounting practices:

  • When calculating the reported deficit, the federal government merges the finances of all federal programs into what is called the “unified budget.” Hence, the deficit does not account for the intergovernmental debt that arises when programs such as Social Security loan their surpluses to the federal government.[158]
  • When the federal government lays out money for programs such as TARP and student loans, the outgo is not fully counted in the deficit. The deficit reflects only what the government expects to lose or gain on these loans.[159] [160]

* PolitiFact, a Pulitzer Prize-winning project of the Tampa Bay Times to “help you find the truth in politics,”[161] has stated that there were “several years of budget surpluses” during Bill Clinton’s presidency. This same article cites the rise in “national debt” during the tenure of George W. Bush.[162]

* Using the same criterion PolitiFact applied to Bush’s presidency (change in gross national debt), the national debt rose every year of Clinton’s presidency:

Year National Debt on Inauguration Date†

(billions)

1993 $4,188
1994 $4,501
1995 $4,797
1996 $4,988
1997 $5,310
1998 $5,496
1999 $5,624
2000 $5,706
2001 $5,728
† NOTE: PolitiFact used the inauguration date for its debt baseline.

The national debt also rose every fiscal year of Clinton’s presidency.

[163] [164]

Ownership

* As of September 30, 2016, the national debt consists of:

Amount Owed To: Portion of Total
$14.2 trillion owed to non-federal entities (i.e., publicly held debt) 72%
$5.4 trillion owed to federal entities (i.e., intragovernmental debt) 28%

[165]


Debt Owed to Non-Federal Entities

* Ownership of publicly held debt as of September 30, 2016:

Debt Owed to Non-Federal Entities

* Data from the chart above:

Entities Amount (billions) Portion of Total
Foreign & International $6,148 45%
Federal Reserve[166] $2,462 18%
Other Investors $1,343 10%
Mutual Funds $1,315 10%
State & Local Governments $687 5%
Banks & Savings Institutions $547 4%
Private Pension Funds $540 4%
Insurance Companies $297 2%
U.S. Savings Bonds $172 1%
State and Local Government Pension Funds $164 1%

[167]


Debt Owed to Foreign Entities

* Per the White House Office of Management and Budget (2016):

During most of American history, the Federal debt was held almost entirely by individuals and institutions within the United States. In the late 1960s, foreign holdings were just over $10 billion, less than 5 percent of the total Federal debt held by the public. Foreign holdings began to grow significantly starting in the 1970s and now represent almost half of outstanding [publicly held] debt.[168]

* Ownership of U.S. government debt by foreign creditors as of August 31, 2016:

Debt Owed to Foreign Entities

* Data from the chart above:

Country Amount (billions) Portion of Total
China, Mainland $1,185 19%
Japan $1,144 18%
Ireland $266 4%
Cayman Islands $264 4%
Brazil $256 4%
Switzerland $238 4%
Luxembourg $220 4%
United Kingdom $205 3%
Hong Kong $192 3%
Taiwan $190 3%
Others $2,037 33%
Total $6,196 100%

[169]

* Foreign purchases of U.S. government debt increase the demand for this debt, thus putting downward pressure on U.S. interest rates. Conversely, foreign sales of U.S. government debt place upward pressure on U.S. interest rates.[170] [171]

* Per a 2008 Congressional Research Service report, a “potentially serious short-term problem would emerge if China decided to suddenly” sell its holding of U.S. government debt. Possible effects could include:

  • “a more general financial reaction (or panic), in which all foreigners responded by reducing their holdings of U.S. assets”;
  • “a sudden and large depreciation in the value of the dollar”;
  • “a sudden and large increase in U.S. interest rates”;
  • a stock market fall; and/or
  • “a recession.”[172]

* The same report states:

The likelihood that China would suddenly reduce its holdings of U.S. securities is questionable because it is unlikely that doing so would be in China’s economic interests. First, a large sell-off of China’s U.S. holdings could diminish the value of these securities in international markets…. Second, such a move would diminish U.S. demand for Chinese imports…. A sharp reduction of U.S. imports from China could have a significant impact on China’s economy….[173]

* During a visit to China in February 2009, Secretary of State Hillary Clinton said:

By continuing to support American Treasury instruments [i.e., buy U.S. government debt] the Chinese are recognizing our interconnection. … We have to incur more debt. It would not be in China’s interest if we were unable to get our economy moving again. … The U.S. needs the investment in Treasury bonds to shore up its economy to continue to buy Chinese products.[174]

* In August 2007 during a currency dispute between the U.S. and China, two leading officials of Chinese Communist Party bodies suggested that China use the threat of selling U.S. debt as a “bargaining chip.”[175]

* In February 2009 during a dispute over U.S. arms sales to Taiwan, a Chinese general made the following statements in the state-run magazine Outlook Weekly:

Our retaliation should not be restricted to merely military matters, and we should adopt a strategic package of counterpunches covering politics, military affairs, diplomacy and economics to treat both the symptoms and root cause of this disease. … [W]e could sanction them using economic means, such as dumping some U.S. government bonds.[176]

* One month later while appearing before China’s parliament, the head of China’s State Administration of Foreign Exchange said:

the U.S. Treasury market is important to us. … This is purely market-driven investment behavior. I would hope not to see this matter politicized.[177]

Debt Owed to Federal Entities

* Ownership of intergovernmental debt as of September 30, 2016:

Debt Owed to Federal Entities

* Data from the chart above:

Funds Amount (billions) Portion of Total
Social Security $2,843 53%
Civil Service Retirement and Disability $874 16%
Military Retirement $591 11%
Medicare $256 5%
Department of Defense Retiree Healthcare $213 4%
Postal Service Retiree Health Benefits $51 1%
Other $572 11%

[178]

Media

Budget Cuts

* In April 2011, journalists reported on a $38 billion federal budget cut agreement with the following headlines and phraseology:

  • “New Cuts Detailed in Agreement for $38 Billion in Reductions”; “deep budget cuts in programs for the poor, law enforcement, the environment and civic projects” – Los Angeles Times[179]
  • “Congress Sends Budget Cut Bill to Obama”; “cutting a record $38 billion from domestic spending” – Associated Press[180]
  • “Budget Deal to Cut $38 Billion Averts Shutdown”; “Republicans were able to force significant spending concessions from Democrats….” – New York Times[181]

* None of these articles reported that this figure of $38 billion in cuts was primarily relative to a portion of the budget called “discretionary non-emergency appropriations.”[182] Relative to the entire federal budget, this cut left a projected spending increase of $135 billion from 2010 to 2011. This equates to an inflation-adjusted increase of $49 billion or 0.1 percentage points of GDP:[183]

Federal Outlays

[184]

* None of the articles quoted above contains a budget-wide frame of reference for the cuts. A spending reduction of $38 billion equates to 1.0% of the estimated 2011 budget or 2.7% of the projected deficit:

Budget Cut

[185]


Bush Tax Cuts

* In February 2010, Fareed Zakaria of CNN stated:

Now, please understand that the Bush tax cuts are the single largest part of the black hole that is the federal budget deficit.[186]

* In 2010, the Bush tax cuts lowered federal revenues by about $283 billion.[187] [188] This was equivalent to 8% of the federal budget or 22% of the deficit.[189]

* Per the Congressional Budget Office (CBO), “Most parameters of the tax code are not indexed for real income growth, and some are not indexed for inflation.” Thus, if tax cuts are not periodically implemented, average federal tax rates “increase in the long run.”[190]

* In 2000, the year before the first Bush tax cuts were passed,[191] the federal government collected revenues equal to 20.4% of the nation’s gross domestic product (GDP), the highest level in the history of the United States.[192] Over the previous 30 years, federal revenues averaged 18.3% of GDP.[193]

* In 2000, the stock market “dot.com” bubble burst,[194] the NASDAQ lost 39% of its value,[195] and profits for nonfinancial corporations fell by 18%.[196] In the first quarter of 2001, the nation’s GDP contracted and a recession began.[197] [198]

* In June 2001 and May 2003, Congress passed and President Bush signed laws that implemented various tax cuts.[199] [200]

* After the Bush tax cuts were fully implemented, federal revenues were 17.8% of GDP in 2005, 18.5% in 2006, and 18.6% in 2007.[201] Average federal revenues for the 30 years preceding the Bush tax cuts were 18.4%.[202]

* The Great Recession began in December 2007,[203] and federal revenues declined to 17.7% of GDP in 2008.[204]

* In February 2009, Congress passed and President Obama signed a law that implemented various tax cuts.[205]

* Federal revenues declined to 15.7% of GDP in 2009 and 16.4% in 2010.[206]

* Federal spending rose from 21.0% of GDP in 2007 to 26.5% in 2010.[207] Average federal spending for the 30 years preceding the Great Recession was 21.8%.[208]


The “Do Nothing” Plan

* In April 2011, Ezra Klein of the Washington Post posted a graph of spending and revenue projections based upon CBO’s “current law” scenario and wrote that it:

shows what happens if we do … nothing. The answer, as you can see, is that the budget comes roughly into balance.[209]

* Klein’s graph and commentary omitted the interest and outcome of the national debt under this plan.[210] In the “do nothing” scenario, outlays were projected to exceed revenues every year through 2084, and the publicly held debt was projected to increase from 62% of GDP in 2010, to 74% in 2030, 90% in 2050, and 113% in 2084.[211]

* In the same commentary, Klein wrote that the “current law” scenario is “a pretty good plan” that contains:

a balanced mix of revenues, through returning tax rates to Clinton-era levels and implementing the taxes in the Affordable Care Act, and program cuts … in Medicare….[212]

* Under this scenario:

  • Certain elements of the tax code are not indexed for inflation or wage growth. Consequently, taxpayers are shifted over time into higher tax brackets.
  • According to the Congressional Budget Office, by 2020 revenues “reach higher levels relative to the size of the economy than ever recorded in the nation’s history.”
  • Revenues as a portion of GDP continue climbing through 2084, rising 69% higher than the average of the past 40 years and 47% higher than ever recorded in the history of the United States.[213] [214]
  • As a portion of GDP, federal spending without interest on the national debt rises by 2084 to 68% higher than the average of the past 40 years.[215]

Context

* Without mentioning the role of Congress in taxes, spending, or the national debt,[216] [217] PolitiFact (in the same article cited above) wrote that the national debt increased by $5.73 trillion “under” George W. Bush whereas there were budget surpluses “at the end of the Clinton administration.”[218]

* Below are the fluctuations in national debt organized by the tenures of recent presidents and congressional majorities:

Political Power

Dates

Average Annual Change in National Debt

(Percentage Points of GDP)

Bill Clinton with Democratic House and Senate 1/20/93 – 1/4/95 0.9
Bill Clinton with Republican House and Senate 1/4/95 – 1/19/01 -1.6
George W. Bush with Republican House and Senate 1/19/01 – 6/6/01, 11/12/02 – 1/4/07 0.8
George W. Bush with Republican House and Democratic Senate 6/6/01 – 11/12/02 2.3
George W. Bush with Democratic House and Senate 1/4/07 – 1/20/09 6.5
Barack Obama with Democratic House and Senate 1/20/09 – 1/4/11 9.3
Barack Obama with Republican House and Democratic Senate 1/5/11 – 1/6/15 1.9

[219]

* Other factors impacting the national debt include but are not limited to: legislation passed by previous congresses and presidents,[220] economic cycles, terrorist attacks, natural disasters, demographics, and the actions of U.S. citizens and foreign governments.[221]

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Non-accelarating Inflation Rate of Unemployment (NAIRU) — Phillips Curve — Money and Inflation — No Real Tradeoff Between Price Increases and Unemployment Rate In The Long Run — States and Nations Cutting Taxes Resulted In Higher Growth and Lower Unemployment — Videos

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NAIRU

From Wikipedia, the free encyclopedia

NAIRU is an acronym for non-accelerating inflation rate of unemployment,[1] and refers to a level of unemployment below which inflation rises. It was first introduced as NIRU (non-inflationary rate of unemployment) by Franco Modigliani and Lucas Papademos in 1975, as an improvement over the “natural rate of unemployment” concept,[2][3][4] which was proposed earlier by Milton Friedman.[5]

Monetary policy conducted under the assumption of a NAIRU involves allowing just enough unemployment in the economy to prevent inflation rising above a given target figure. Prices are allowed to increase gradually and some unemployment is tolerated.

Contents

 [show] 

Origins

An early form of NAIRU is found in the work of Abba P. Lerner (Lerner 1951, Chapter 14), who referred to it as “low full employment” attained via the expansion of aggregate demand, in contrast with the “high full employment” which adds incomes policies (wage and price controls) to demand stimulation.

The concept arose in the wake of the popularity of the Phillips curve which summarized the observed negative correlation between the rate of unemployment and the rate of inflation (measured as annual nominal wage growth of employees) for number of industrialised countries with more or less mixed economies. This correlation (previously seen for the U.S. by Irving Fisher) persuaded some analysts that it was impossible for governments simultaneously to target both arbitrarily low unemployment and price stability, and that, therefore, it was government’s role to seek a point on the trade-off between unemployment and inflation which matched a domestic social consensus.

During the 1970s in the United States and several other industrialized countries, Phillips curve analysis became less popular, because inflation rose at the same time that unemployment rose (see stagflation).

Worse, as far as many economists were concerned, was that the Phillips curve had little or no theoretical basis. Critics of this analysis (such as Milton Friedman and Edmund Phelps) argued that the Phillips curve could not be a fundamental characteristic of economic general equilibrium because it showed a correlation between a real economic variable (the unemployment rate) and a nominal economic variable (the inflation rate). Their counter-analysis was that government macroeconomic policy (primarily monetary policy) was being driven by a low unemployment target and that this caused expectations of inflation to change, so that steadily accelerating inflation rather than reduced unemployment was the result. The resulting prescription was that government economic policy (or at least monetary policy) should not be influenced by any level of unemployment below a critical level – the “natural rate” or NAIRU.[6]

The natural rate hypothesis

The idea behind the natural rate hypothesis put forward by Friedman was that any given labor market structure must involve a certain amount of unemployment, including frictional unemployment associated with individuals changing jobs and possibly classical unemployment arising from real wages being held above the market-clearing level by minimum wage laws, trade unions or other labour market institutions. Unexpected inflation might allow unemployment to fall below the natural rate by temporarily depressing real wages, but this effect would dissipate once expectations about inflation were corrected. Only with continuously accelerating inflation could rates of unemployment below the natural rate be maintained.

The analysis supporting the natural rate hypothesis was controversial, and empirical evidence suggested that the natural rate varied over time in ways that could not easily be explained by changes in labor market structures. As a result, the “natural rate” terminology was largely supplanted by that of the NAIRU, which referred to a rate of unemployment below which inflation would accelerate, but did not imply a commitment to any particular theoretical explanation, or a prediction that the rate would be stable over time.

Properties

If {\displaystyle U*}U* is the NAIRU and {\displaystyle U}U is the actual unemployment rate, the theory says that:

if {\displaystyle U<U*}U<U* for a few years, inflationary expectations rise, so that the inflation rate tends to increase;
if {\displaystyle U>U*}U>U* for a few years, inflationary expectations fall, so that the inflation rate tends to slow (there is disinflation); and
if {\displaystyle U=U*}U=U*, the inflation rate tends to stay the same, unless there is an exogenous shock.

Okun’s law can be stated as saying that for every one percentage point by which the actual unemployment rate exceeds the so-called “natural” rate of unemployment, real gross domestic product is reduced by 2% to 3%.

Criticism

The NAIRU analysis assumes that if inflation increases, workers and employers can create contracts that take into account expectations of higher inflation and agree on a level of wage inflation that matches the expected level of price inflation to maintain constant real wages. Therefore, the analysis requires inflation to accelerate to maintain low unemployment. However, this argument implicitly assumes that workers and employers cannot contract to incorporate accelerating inflation into wage expectations, but there is no clear justification for assuming that expectations or contract structures are limited in this way aside from the fact that such wage arrangements are not commonly observed.

The NAIRU analysis is especially problematic if the Phillips curve displays hysteresis, that is, if episodes of high unemployment raise the NAIRU.[7] This could happen, for example, if unemployed workers lose skills so that employers prefer to bid up of the wages of existing workers when demand increases, rather than hiring the unemployed.

Others, such as Abba Lerner (1951, 1967) and Hyman Minsky (1965) have argued that a similar effect can be achieved without the human costs of unemployment via a job guarantee, where rather than being unemployed, those who cannot find work in the private sector should be employed by the government. This theory, and the policy of the job guarantee replaces the NAIRU with the NAIBER (non-accelerating-inflation-buffer employment ratio).[8]

Relationship to other economic theories

Most economists do not see the NAIRU theory as explaining all inflation. Instead, it is possible to move along a short run Phillips Curve (even though the NAIRU theory says that this curve shifts in the longer run) so that unemployment can rise or fall due to changes in inflation. Exogenous supply-shock inflation is also possible, as with the “energy crises” of the 1970s or the credit crunch of the early 21st century.

The NAIRU theory was mainly intended as an argument against active Keynesian demand management and in favor of free markets (at least on the macroeconomic level). There is, for instance, no theoretical basis for predicting the NAIRU. Monetarists instead support the generalized assertion that the correct approach to unemployment is through microeconomic measures (to lower the NAIRU whatever its exact level), rather than macroeconomic activity based on an estimate of the NAIRU in relation to the actual level of unemployment. Monetary policy, they maintain, should aim instead at stabilizing the inflation rate.

Naming

The NAIRU, non-accelerating inflation rate of unemployment, is actually misnamed. It is the price level that is accelerating (or decelerating), not the inflation rate. The inflation rate is just changing, not accelerating.[9]

See also

References

  1. Jump up^ Coe, David T, Nominal Wages. The NAIRU and Wage Flexibility. (PDF), Organisation for Economic Co-operation and Development
  2. Jump up^ Modigliani, Franco; Papademos, Lucas (1975). “Targets for Monetary Policy in the Coming Year”. Brookings Papers on Economic Activity. The Brookings Institution. 1975 (1): 141–165. doi:10.2307/2534063. JSTOR 2534063.
  3. Jump up^ Robert M. Solow, Modigliani and Monetarism, p. 6.
  4. Jump up^ Snowdon, Brian; Vane, Howard R. (2005). Modern Macroeconomics: Its Origins, Development and Current State. Cheltenham: E. Elgar. p. 187. ISBN 1-84376-394-X.
  5. Jump up^ Friedman, Milton (1968). “The Role of Monetary Policy”. American Economic Review. 58 (1): 1–17. JSTOR 1831652.
  6. Jump up^ Hoover, Kevin D, “Phillips Curve”, The Concise Encyclopedia of Economics, The Library of Economics and Liberty, retrieved 16 July 2007
  7. Jump up^ Ball, Laurence (2009), Hysteresis in Unemployment: Old and New Evidence (PDF)
  8. Jump up^ William Mitchell, J. Muysken (2008), Full employment abandoned: shifting sands and policy failures, Edward Elgar Publishing, ISBN 1-85898-507-2
  9. Jump up^ Case, K.E. and Fair, R.C. and Oster, S.M. (2016). Principles of Macroeconomics. Pearson. ISBN 9780133023671.

Further reading

External links

https://en.wikipedia.org/wiki/NAIRU

Phillips curve

From Wikipedia, the free encyclopedia
For the Phillips curve in supernova astrophysics, see Phillips relationship.

The Phillips curve is a single-equation empirical model, named after A. W. Phillips, describing a historical inverse relationship between rates of unemployment and corresponding rates of inflation that result within an economy. Stated simply, decreased unemployment, (i.e., increased levels of employment) in an economy will correlate with higher rates of inflation.

While there is a short run tradeoff between unemployment and inflation, it has not been observed in the long run.[1] In 1968, Milton Friedman asserted that the Phillips curve was only applicable in the short-run and that in the long-run, inflationary policies will not decrease unemployment.[2][3] Friedman then correctly predicted that, in the 1973–75 recession, both inflation and unemployment would increase.[3] The long-run Phillips curve is now seen as a vertical line at the natural rate of unemployment, where the rate of inflation has no effect on unemployment.[4] Accordingly, the Phillips curve is now seen as too simplistic, with the unemployment rate supplanted by more accurate predictors of inflation based on velocity of moneysupply measures such as the MZM (“money zero maturity”) velocity,[5] which is affected by unemployment in the short but not the long term.[6]

Contents

 [show] 

History

Rate of Change of Wages against Unemployment, United Kingdom 1913–1948 from Phillips (1958)

William Phillips, a New Zealand born economist, wrote a paper in 1958 titled The Relation between Unemployment and the Rate of Change of Money Wage Rates in the United Kingdom, 1861-1957, which was published in the quarterly journal Economica.[7] In the paper Phillips describes how he observed an inverse relationship between money wage changes and unemployment in the British economy over the period examined. Similar patterns were found in other countries and in 1960 Paul Samuelson and Robert Solow took Phillips’ work and made explicit the link between inflation and unemployment: when inflation was high, unemployment was low, and vice versa.[8]

In the 1920s, an American economist Irving Fisher noted this kind of Phillips curve relationship. However, Phillips’ original curve described the behavior of money wages.[9]

In the years following Phillips’ 1958 paper, many economists in the advanced industrial countries believed that his results showed that there was a permanently stable relationship between inflation and unemployment.[citation needed] One implication of this for government policy was that governments could control unemployment and inflation with a Keynesian policy. They could tolerate a reasonably high rate of inflation as this would lead to lower unemployment – there would be a trade-off between inflation and unemployment. For example, monetary policy and/or fiscal policy could be used to stimulate the economy, raising gross domestic product and lowering the unemployment rate. Moving along the Phillips curve, this would lead to a higher inflation rate, the cost of enjoying lower unemployment rates.[citation needed] Economist James Forder argues that this view is historically false and that neither economists nor governments took that view and that the ‘Phillips curve myth’ was an invention of the 1970s.[10]

Since 1974, seven Nobel Prizes have been given to economists for, among other things, work critical of some variations of the Phillips curve. Some of this criticism is based on the United States’ experience during the 1970s, which had periods of high unemployment and high inflation at the same time. The authors receiving those prizes include Thomas Sargent, Christopher Sims, Edmund Phelps, Edward Prescott, Robert A. Mundell, Robert E. Lucas, Milton Friedman, and F.A. Hayek.[11]

Stagflation

In the 1970s, many countries experienced high levels of both inflation and unemployment also known as stagflation. Theories based on the Phillips curve suggested that this could not happen, and the curve came under a concerted attack from a group of economists headed by Milton Friedman.[citation needed] Friedman argued that the Phillips curve relationship was only a short-run phenomenon. In this he followed eight years after Samuelson and Solow [1960] who wrote ” All of our discussion has been phrased in short-run terms, dealing with what might happen in the next few years. It would be wrong, though, to think that our Figure 2 menu that related obtainable price and unemployment behavior will maintain its same shape in the longer run. What we do in a policy way during the next few years might cause it to shift in a definite way.”[8] As Samuelson and Solow had argued 8 years earlier, he argued that in the long run, workers and employers will take inflation into account, resulting in employment contracts that increase pay at rates near anticipated inflation. Unemployment would then begin to rise back to its previous level, but now with higher inflation rates. This result implies that over the longer-run there is no trade-off between inflation and unemployment. This implication is significant for practical reasons because it implies that central banks should not set employment targets above the natural rate.[1]

More recent research has shown that there is a moderate trade-off between low-levels of inflation and unemployment. Work by George Akerlof, William Dickens, and George Perry,[12]implies that if inflation is reduced from two to zero percent, unemployment will be permanently increased by 1.5 percent. This is because workers generally have a higher tolerance for real wage cuts than nominal ones. For example, a worker will more likely accept a wage increase of two percent when inflation is three percent, than a wage cut of one percent when the inflation rate is zero.

Today

U.S. Inflation and Unemployment 1/2000 to 4/2013

Most economists no longer use the Phillips curve in its original form because it was shown to be too simplistic.[6] This can be seen in a cursory analysis of US inflation and unemployment data from 1953–92. There is no single curve that will fit the data, but there are three rough aggregations—1955–71, 1974–84, and 1985–92—each of which shows a general, downwards slope, but at three very different levels with the shifts occurring abruptly. The data for 1953–54 and 1972–73 do not group easily, and a more formal analysis posits up to five groups/curves over the period.[1]

But still today, modified forms of the Phillips Curve that take inflationary expectations into account remain influential. The theory goes under several names, with some variation in its details, but all modern versions distinguish between short-run and long-run effects on unemployment. Modern Phillips curve models include both a short-run Phillips Curve and a long-run Phillips Curve. This is because in the short run, there is generally an inverse relationship between inflation and the unemployment rate; as illustrated in the downward sloping short-run Phillips curve. In the long run, that relationship breaks down and the economy eventually returns to the natural rate of unemployment regardless of the inflation rate.[13]

The “short-run Phillips curve” is also called the “expectations-augmented Phillips curve”, since it shifts up when inflationary expectations rise, Edmund Phelps and Milton Friedman argued. In the long run, this implies that monetary policy cannot affect unemployment, which adjusts back to its “natural rate“, also called the “NAIRU” or “long-run Phillips curve”. However, this long-run “neutrality” of monetary policy does allow for short run fluctuations and the ability of the monetary authority to temporarily decrease unemployment by increasing permanent inflation, and vice versa. The popular textbook of Blanchard gives a textbook presentation of the expectations-augmented Phillips curve.[14]

An equation like the expectations-augmented Phillips curve also appears in many recent New Keynesiandynamic stochastic general equilibrium models. In these macroeconomic models with sticky prices, there is a positive relation between the rate of inflation and the level of demand, and therefore a negative relation between the rate of inflation and the rate of unemployment. This relationship is often called the “New Keynesian Phillips curve.” Like the expectations-augmented Phillips curve, the New Keynesian Phillips curve implies that increased inflation can lower unemployment temporarily, but cannot lower it permanently. Two influential papers that incorporate a New Keynesian Phillips curve are Clarida, Galí, and Gertler (1999),[15] and Blanchard and Galí (2007).[16]

Mathematics

There are at least two different mathematical derivations of the Phillips curve. First, there is the traditional or Keynesian version. Then, there is the new Classical version associated with Robert E. Lucas, Jr.

The traditional Phillips curve

The original Phillips curve literature was not based on the unaided application of economic theory. Instead, it was based on empirical generalizations. After that, economists tried to develop theories that fit the data.

Money wage determination

The traditional Phillips curve story starts with a wage Phillips Curve, of the sort described by A.W. Phillips himself. This describes the rate of growth of money wages (gW). Here and below, the operator g is the equivalent of “the percentage rate of growth of” the variable that follows.

{\displaystyle gW=gW^{T}-f(U)}gW=gW^{{T}}-f(U)

The “money wage rate” (W) is shorthand for total money wage costs per production employee, including benefits and payroll taxes. The focus is on only production workers’ money wages, because (as discussed below) these costs are crucial to pricing decisions by the firms.

This equation tells us that the growth of money wages rises with the trend rate of growth of money wages (indicated by the superscript “T”) and falls with the unemployment rate (U). The function f() is assumed to be monotonically increasing with U so that the dampening of money-wage increases by unemployment is shown by the negative sign in the equation above.

There are several possible stories behind this equation. A major one is that money wages are set by bilateral negotiations under partial bilateral monopoly: as the unemployment rate rises, all else constant worker bargaining power falls, so that workers are less able to increase their wages in the face of employer resistance.

During the 1970s, this story had to be modified, because (as the late Abba Lerner had suggested in the 1940s) workers try to keep up with inflation. Since the 1970s, the equation has been changed to introduce the role of inflationary expectations (or the expected inflation rate, gPex). This produces the expectations-augmented wage Phillips curve:

{\displaystyle gW=gW^{T}-f(U)+\lambda .gP^{ex}.}gW=gW^{{T}}-f(U)+\lambda .gP^{{ex}}.

The introduction of inflationary expectations into the equation implies that actual inflation can feed back into inflationary expectations and thus cause further inflation. The late economist James Tobin dubbed the last term “inflationary inertia,” because in the current period, inflation exists which represents an inflationary impulse left over from the past.

It also involved much more than expectations, including the price-wage spiral. In this spiral, employers try to protect profits by raising their prices and employees try to keep up with inflation to protect their real wages. This process can feed on itself, becoming a self-fulfilling prophecy.

The parameter λ (which is presumed constant during any time period) represents the degree to which employees can gain money wage increases to keep up with expected inflation, preventing a fall in expected real wages. It is usually assumed that this parameter equals unity in the long run.

In addition, the function f() was modified to introduce the idea of the Non-Accelerating Inflation Rate of Unemployment (NAIRU) or what’s sometimes called the “natural” rate of unemployment or the inflation-threshold unemployment rate:

[1] gW = gWTf(UU*) + λ·gPex.

Here, U* is the NAIRU. As discussed below, if U < U*, inflation tends to accelerate. Similarly, if U > U*, inflation tends to slow. It is assumed that f(0) = 0, so that when U = U*, the f term drops out of the equation.

In equation [1], the roles of gWT and gPex seem to be redundant, playing much the same role. However, assuming that λ is equal to unity, it can be seen that they are not. If the trend rate of growth of money wages equals zero, then the case where U equals U* implies that gW equals expected inflation. That is, expected real wages are constant.

In any reasonable economy, however, having constant expected real wages could only be consistent with actual real wages that are constant over the long haul. This does not fit with economic experience in the U.S. or any other major industrial country. Even though real wages have not risen much in recent years, there have been important increases over the decades.

An alternative is to assume that the trend rate of growth of money wages equals the trend rate of growth of average labor productivity (Z). That is:

[2] gWT = gZT.

Under assumption [2], when U equals U* and λ equals unity, expected real wages would increase with labor productivity. This would be consistent with an economy in which actual real wages increase with labor productivity. Deviations of real-wage trends from those of labor productivity might be explained by reference to other variables in the model.

Pricing decisions

Next, there is price behavior. The standard assumption is that markets are imperfectly competitive, where most businesses have some power to set prices. So the model assumes that the average business sets a unit price (P) as a mark-up (M) over the unit labor cost in production measured at a standard rate of capacity utilization (say, at 90 percent use of plant and equipment) and then adds in the unit materials cost.

The standardization involves later ignoring deviations from the trend in labor productivity. For example, assume that the growth of labor productivity is the same as that in the trend and that current productivity equals its trend value:

gZ = gZT and Z = ZT.

The markup reflects both the firm’s degree of market power and the extent to which overhead costs have to be paid. Put another way, all else equal, M rises with the firm’s power to set prices or with a rise of overhead costs relative to total costs.

So pricing follows this equation:

P = M × (unit labor cost) + (unit materials cost)
= M × (total production employment cost)/(quantity of output) + UMC.

UMC is unit raw materials cost (total raw materials costs divided by total output). So the equation can be restated as:

P = M × (production employment cost per worker)/(output per production employee) + UMC.

This equation can again be stated as:

P = M×(average money wage)/(production labor productivity) + UMC
= M×(W/Z) + UMC.

Now, assume that both the average price/cost mark-up (M) and UMC are constant. On the other hand, labor productivity grows, as before. Thus, an equation determining the price inflation rate (gP) is:

gP = gWgZT.

Price[edit]

Then, combined with the wage Phillips curve [equation 1] and the assumption made above about the trend behavior of money wages [equation 2], this price-inflation equation gives us a simple expectations-augmented price Phillips curve:

gP = −f(UU*) + λ·gPex.

Some assume that we can simply add in gUMC, the rate of growth of UMC, in order to represent the role of supply shocks (of the sort that plagued the U.S. during the 1970s). This produces a standard short-term Phillips curve:

gP = −f(UU*) + λ·gPex + gUMC.

Economist Robert J. Gordon has called this the “Triangle Model” because it explains short-run inflationary behavior by three factors: demand inflation (due to low unemployment), supply-shock inflation (gUMC), and inflationary expectations or inertial inflation.

In the long run, it is assumed, inflationary expectations catch up with and equal actual inflation so that gP = gPex. This represents the long-term equilibrium of expectations adjustment. Part of this adjustment may involve the adaptation of expectations to the experience with actual inflation. Another might involve guesses made by people in the economy based on other evidence. (The latter idea gave us the notion of so-called rational expectations.)

Expectational equilibrium gives us the long-term Phillips curve. First, with λ less than unity:

gP = [1/(1 − λ)]·(−f(UU*) + gUMC).

This is nothing but a steeper version of the short-run Phillips curve above. Inflation rises as unemployment falls, while this connection is stronger. That is, a low unemployment rate (less than U*) will be associated with a higher inflation rate in the long run than in the short run. This occurs because the actual higher-inflation situation seen in the short run feeds back to raise inflationary expectations, which in turn raises the inflation rate further. Similarly, at high unemployment rates (greater than U*) lead to low inflation rates. These in turn encourage lower inflationary expectations, so that inflation itself drops again.

This logic goes further if λ is equal to unity, i.e., if workers are able to protect their wages completely from expected inflation, even in the short run. Now, the Triangle Model equation becomes:

f(UU*) = gUMC.

If we further assume (as seems reasonable) that there are no long-term supply shocks, this can be simplified to become:

f(UU*) = 0 which implies that U = U*.

All of the assumptions imply that in the long run, there is only one possible unemployment rate, U* at any one time. This uniqueness explains why some call this unemployment rate “natural.”

To truly understand and criticize the uniqueness of U*, a more sophisticated and realistic model is needed. For example, we might introduce the idea that workers in different sectors push for money wage increases that are similar to those in other sectors. Or we might make the model even more realistic. One important place to look is at the determination of the mark-up, M.

New classical version

The Phillips curve equation can be derived from the (short-run) Lucas aggregate supply function. The Lucas approach is very different from that the traditional view. Instead of starting with empirical data, he started with a classical economic model following very simple economic principles.

Start with the aggregate supply function:

{\displaystyle Y=Y_{n}+a(P-P_{e})\,}Y=Y_{n}+a(P-P_{e})\,

where Y is log value of the actual output, Yn is log value of the “natural” level of output, a is a positive constant, P is log value of the actual price level, and Pe is log value of the expected price level. Lucas assumes that Yn has a unique value.

Note that this equation indicates that when expectations of future inflation (or, more correctly, the future price level) are totally accurate, the last term drops out, so that actual output equals the so-called “natural” level of real GDP. This means that in the Lucas aggregate supply curve, the only reason why actual real GDP should deviate from potential—and the actual unemployment rate should deviate from the “natural” rate—is because of incorrect expectations of what is going to happen with prices in the future. (The idea has been expressed first by Keynes, General Theory, Chapter 20 section III paragraph 4).

This differs from other views of the Phillips curve, in which the failure to attain the “natural” level of output can be due to the imperfection or incompleteness of markets, the stickiness of prices, and the like. In the non-Lucas view, incorrect expectations can contribute to aggregate demand failure, but they are not the only cause. To the “new Classical” followers of Lucas, markets are presumed to be perfect and always attain equilibrium (given inflationary expectations).

We re-arrange the equation into:

{\displaystyle P=P_{e}+{\frac {Y-Y_{n}}{a}}}P=P_{e}+{\frac {Y-Y_{n}}{a}}

Next we add unexpected exogenous shocks to the world supply v:

{\displaystyle P=P_{e}+{\frac {Y-Y_{n}}{a}}+v}P=P_{e}+{\frac {Y-Y_{n}}{a}}+v

Subtracting last year’s price levels P−1 will give us inflation rates, because

{\displaystyle P-P_{-1}\ \approx \pi }P-P_{{-1}}\ \approx \pi

and

{\displaystyle P_{e}-P_{-1}\ \approx \pi _{e}}P_{e}-P_{{-1}}\ \approx \pi _{e}

where π and πe are the inflation and expected inflation respectively.

There is also a negative relationship between output and unemployment (as expressed by Okun’s law). Therefore, using

{\displaystyle {\frac {Y-Y_{n}}{a}}=-b(U-U_{n})}{\frac {Y-Y_{n}}{a}}=-b(U-U_{n})

where b is a positive constant, U is unemployment, and Un is the natural rate of unemployment or NAIRU, we arrive at the final form of the short-run Phillips curve:

{\displaystyle \pi =\pi _{e}-b(U-U_{n})+v\,}\pi =\pi _{e}-b(U-U_{n})+v\,

This equation, plotting inflation rate π against unemployment U gives the downward-sloping curve in the diagram that characterises the Phillips curve.

New Keynesian version

The New Keynesian Phillips curve was originally derived by Roberts in 1995,[17] and since been used in most state-of-the-art New Keynesian DSGE models like the one of Clarida, Galí, and Gertler (2000).[18][19]

{\displaystyle \pi _{t}=\beta E_{t}[\pi _{t+1}]+\kappa y_{t}}\pi _{{t}}=\beta E_{{t}}[\pi _{{t+1}}]+\kappa y_{{t}}

where {\displaystyle \kappa ={\frac {\alpha [1-(1-\alpha )\beta ]\phi }{1-\alpha }}}\kappa ={\frac {\alpha [1-(1-\alpha )\beta ]\phi }{1-\alpha }}. The current expectations of next period’s inflation are incorporated as {\displaystyle \beta E_{t}[\pi _{t+1}]}\beta E_{{t}}[\pi _{{t+1}}]

NAIRU and rational expectations

Short-Run Phillips Curve before and after Expansionary Policy, with Long-Run Phillips Curve (NAIRU)

In the 1970s, new theories, such as rational expectations and the NAIRU (non-accelerating inflation rate of unemployment) arose to explain how stagflation could occur. The latter theory, also known as the “natural rate of unemployment“, distinguished between the “short-term” Phillips curve and the “long-term” one. The short-term Phillips Curve looked like a normal Phillips Curve, but shifted in the long run as expectations changed. In the long run, only a single rate of unemployment (the NAIRU or “natural” rate) was consistent with a stable inflation rate. The long-run Phillips Curve was thus vertical, so there was no trade-off between inflation and unemployment. Edmund Phelps won the Nobel Prize in Economics in 2006 in part for this. However, the expectations argument was in fact very widely understood before his work on it.[20]

In the diagram, the long-run Phillips curve is the vertical red line. The NAIRU theory says that when unemployment is at the rate defined by this line, inflation will be stable. However, in the short-run policymakers will face an inflation-unemployment rate tradeoff marked by the “Initial Short-Run Phillips Curve” in the graph. Policymakers can therefore reduce the unemployment rate temporarily, moving from point A to point B through expansionary policy. However, according to the NAIRU, exploiting this short-run tradeoff will raise inflation expectations, shifting the short-run curve rightward to the “New Short-Run Phillips Curve” and moving the point of equilibrium from B to C. Thus the reduction in unemployment below the “Natural Rate” will be temporary, and lead only to higher inflation in the long run.

Since the short-run curve shifts outward due to the attempt to reduce unemployment, the expansionary policy ultimately worsens the exploitable tradeoff between unemployment and inflation. That is, it results in more inflation at each short-run unemployment rate. The name “NAIRU” arises because with actual unemployment below it, inflation accelerates, while with unemployment above it, inflation decelerates. With the actual rate equal to it, inflation is stable, neither accelerating nor decelerating. One practical use of this model was to provide an explanation for stagflation, which confounded the traditional Phillips curve.

The rational expectations theory said that expectations of inflation were equal to what actually happened, with some minor and temporary errors. This in turn suggested that the short-run period was so short that it was non-existent: any effort to reduce unemployment below the NAIRU, for example, would immediately cause inflationary expectations to rise and thus imply that the policy would fail. Unemployment would never deviate from the NAIRU except due to random and transitory mistakes in developing expectations about future inflation rates. In this perspective, any deviation of the actual unemployment rate from the NAIRU was an illusion.

However, in the 1990s in the U.S., it became increasingly clear that the NAIRU did not have a unique equilibrium and could change in unpredictable ways. In the late 1990s, the actual unemployment rate fell below 4% of the labor force, much lower than almost all estimates of the NAIRU. But inflation stayed very moderate rather than accelerating. So, just as the Phillips curve had become a subject of debate, so did the NAIRU.

Furthermore, the concept of rational expectations had become subject to much doubt when it became clear that the main assumption of models based on it was that there exists a single (unique) equilibrium in the economy that is set ahead of time, determined independently of demand conditions. The experience of the 1990s suggests that this assumption cannot be sustained.

Theoretical questions

The Phillips curve started as an empirical observation in search of a theoretical explanation.[citation needed] Specifically, the Phillips curve tried to determine whether the inflation-unemployment link was causal or simply correlational. There are several major explanations of the short-term Phillips curve regularity.

To Milton Friedman there is a short-term correlation between inflation shocks and employment. When an inflationary surprise occurs, workers are fooled into accepting lower pay because they do not see the fall in real wages right away. Firms hire them because they see the inflation as allowing higher profits for given nominal wages. This is a movement along the Phillips curve as with change A. Eventually, workers discover that real wages have fallen, so they push for higher money wages. This causes the Phillips curve to shift upward and to the right, as with B. Some research underlines that some implicit and serious assumptions are actually in the background of the Friedmanian Phillips curve. This information asymmetry and a special pattern of flexibility of prices and wages are both necessary if one wants to maintain the mechanism told by Friedman. However, as it is argued, these presumptions remain completely unrevealed and theoretically ungrounded by Friedman.[21]

Economists such as Milton Friedman and Edmund Phelps reject this theory because it implies that workers suffer from money illusion. According to them, rational workers would only react to real wages, that is, inflation adjusted wages. However, one of the characteristics of a modern industrial economy is that workers do not encounter their employers in an atomized and perfect market. They operate in a complex combination of imperfect markets, monopolies, monopsonies, labor unions, and other institutions. In many cases, they may lack the bargaining power to act on their expectations, no matter how rational they are, or their perceptions, no matter how free of money illusion they are. It is not that high inflation causes low unemployment (as in Milton Friedman’s theory) as much as vice versa: Low unemployment raises worker bargaining power, allowing them to successfully push for higher nominal wages. To protect profits, employers raise prices.

Similarly, built-in inflation is not simply a matter of subjective “inflationary expectations” but also reflects the fact that high inflation can gather momentum and continue beyond the time when it was started, due to the objective price/wage spiral.

However, other economists, like Jeffrey Herbener, argue that price is market-determined and competitive firms cannot simply raise prices.[citation needed] They reject the Phillips curve entirely, concluding that unemployment’s influence is only a small portion of a much larger inflation picture that includes prices of raw materials, intermediate goods, cost of raising capital, worker productivity, land, and other factors.

Gordon’s triangle model

Robert J. Gordon of Northwestern University has analyzed the Phillips curve to produce what he calls the triangle model, in which the actual inflation rate is determined by the sum of

  1. demand pull or short-term Phillips curve inflation,
  2. cost push or supply shocks, and
  3. built-in inflation.

The last reflects inflationary expectations and the price/wage spiral. Supply shocks and changes in built-in inflation are the main factors shifting the short-run Phillips Curve and changing the trade-off. In this theory, it is not only inflationary expectations that can cause stagflation. For example, the steep climb of oil prices during the 1970s could have this result.

Changes in built-in inflation follow the partial-adjustment logic behind most theories of the NAIRU:

  1. Low unemployment encourages high inflation, as with the simple Phillips curve. But if unemployment stays low and inflation stays high for a long time, as in the late 1960s in the U.S., both inflationary expectations and the price/wage spiral accelerate. This shifts the short-run Phillips curve upward and rightward, so that more inflation is seen at any given unemployment rate. (This is with shift B in the diagram.)
  2. High unemployment encourages low inflation, again as with a simple Phillips curve. But if unemployment stays high and inflation stays low for a long time, as in the early 1980s in the U.S., both inflationary expectations and the price/wage spiral slow. This shifts the short-run Phillips curve downward and leftward, so that less inflation is seen at each unemployment rate.

In between these two lies the NAIRU, where the Phillips curve does not have any inherent tendency to shift, so that the inflation rate is stable. However, there seems to be a range in the middle between “high” and “low” where built-in inflation stays stable. The ends of this “non-accelerating inflation range of unemployment rates” change over time.

Joke article

In 2008, Gregor Smith published a joke article in the prestigious Journal of Money, Credit and Banking titled “Japan’s Phillips Curve Looks Like Japan”. This article points out the uncanny resemblance between Japan’s Phillips curve and the country’s geographic shape.[22]

See also

References

  1. ^ Jump up to:a b c Chang, R. (1997) “Is Low Unemployment Inflationary?” Federal Reserve Bank of Atlanta Economic Review 1Q97:4-13
  2. Jump up^ Friedman, Milton (1968). “The role of monetary policy”. American Economic Review. 68 (1): 1–17. JSTOR 1831652.
  3. ^ Jump up to:a b Phelan, John (23 October 2012). “Milton Friedman and the rise and fall of the Phillips Curve”. thecommentator.com. Retrieved September 29, 2014.
  4. Jump up^ “Phillips Curve: The Concise Encyclopedia of Economics – Library of Economics and Liberty”.
  5. Jump up^ “Velocity of MZM Money Stock”. 22 December 2016.
  6. ^ Jump up to:a b Oliver Hossfeld (2010) “US Money Demand, Monetary Overhang, and Inflation Prediction” International Network for Economic Research working paper no. 2010.4
  7. Jump up^ Phillips, A. W. (1958). “The Relationship between Unemployment and the Rate of Change of Money Wages in the United Kingdom 1861-1957”. Economica. 25 (100): 283–299. doi:10.1111/j.1468-0335.1958.tb00003.x.
  8. ^ Jump up to:a b Samuelson, Paul A.; Solow, Robert M. (1960). “Analytical Aspects of Anti-Inflation Policy”. American Economic Review. 50 (2): 177–194. JSTOR 1815021.
  9. Jump up^ Fisher, Irving (1973). “I discovered the Phillips curve: ‘A statistical relation between unemployment and price changes'”. Journal of Political Economy. The University of Chicago Press. 81 (2): 496–502. doi:10.1086/260048. JSTOR 1830534. Reprinted from 1926 edition of International Labour Review.
  10. Jump up^ Forder, James (2014). Macroeconomics and the Phillips Curve Myth. Oxford University Press. ISBN 978-0-19-968365-9.
  11. Jump up^ Domitrovic, Brain (10 October 2011). “The Economics Nobel Goes to Sargent & Sims: Attackers of the Phillips Curve”. Forbes.com. Retrieved 12 October 2011.
  12. Jump up^ Akerlof, George A.; Dickens, William T.; Perry, George L. (2000). “Near-Rational Wage and Price Setting and the Long-Run Phillips Curve”. Brookings Papers on Economic Activity. 2000 (1): 1–60.
  13. Jump up^ Jacob, Reed (2016). “AP Macroeconomics Review: Phillips Curve”. APEconReview.com.
  14. Jump up^ Blanchard, Olivier (2000). Macroeconomics (Second ed.). Prentice Hall. pp. 149–55. ISBN 0-13-013306-X.
  15. Jump up^ Clarida, Richard; Galí, Jordi; Gertler, Mark (1999). “The science of monetary policy: a New-Keynesian perspective”. Journal of Economic Literature. American Economic Association. 37 (4): 1661–1707. doi:10.1257/jel.37.4.1661. JSTOR 2565488.
  16. Jump up^ Blanchard, Olivier; Galí, Jordi (2007). “Real Wage Rigidities and the New Keynesian Model”. Journal of Money, Credit, and Banking. 39 (s1): 35–65. doi:10.1111/j.1538-4616.2007.00015.x.
  17. Jump up^ Roberts, John M. (1995). “New Keynesian Economics and the Phillips Curve”. Journal of Money, Credit and Banking. 27 (4): 975–984. JSTOR 2077783.
  18. Jump up^ Clarida, Richard; Galí, Jordi; Gertler, Mark (2000). “Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory”. The Quarterly Journal of Economics. 115 (1): 147–180. doi:10.1162/003355300554692.
  19. Jump up^ Romer, David (2012). “Dynamic Stochastic General Equilibrium Models of Fluctuation”. Advanced Macroeconomics. New York: McGraw-Hill Irwin. pp. 312–364. ISBN 978-0-07-351137-5.
  20. Jump up^ Forder, James (2010). “The historical place of the ‘Friedman-Phelps’ expectations critique”. European Journal of the History of Economic Thought. 17 (3): 493–511. doi:10.1080/09672560903114875.
  21. Jump up^ Galbács, Peter (2015). The Theory of New Classical Macroeconomics. A Positive Critique. Heidelberg/New York/Dordrecht/London: Springer. doi:10.1007/978-3-319-17578-2. ISBN 978-3-319-17578-2.
  22. Jump up^ Smith, Gregor W. (1 September 2008). “Japan’s Phillips Curve Looks Like Japan”. 40 (6): 1325–1326. doi:10.1111/j.1538-4616.2008.00160.x – via Wiley Online Library.

Further reading

External links

https://en.wikipedia.org/wiki/Phillips_curve

Milton Friedman

From Wikipedia, the free encyclopedia
  (Redirected from Milton friedman)
Milton Friedman
Portrait of Milton Friedman.jpg

Friedman in 2004
Born July 31, 1912
Brooklyn, New York, U.S.
Died November 16, 2006 (aged 94)
San Francisco, California, U.S.
Nationality American
Spouse(s) Rose Friedman
Institution
School or
tradition
Chicago School
Alma mater
Doctoral
advisor
Simon Kuznets
Doctoral
students
Phillip Cagan
Harry Markowitz
Lester G. Telser[1]
David I. Meiselman
Neil Wallace
Miguel Sidrauski
Influences
Influenced
Contributions
Awards
Information at IDEAS / RePEc
Signature
Milton friedman signature.svg
Notes

Milton Friedman (July 31, 1912 – November 16, 2006) was an American economist who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory, and the complexity of stabilization policy.[4] With George Stigler and others, Friedman was among the intellectual leaders of the second generation of Chicago price theory, a methodological movement at the University of Chicago’s Department of Economics, Law School, and Graduate School of Business from the 1940s onward. Several students and young professors that were recruited or mentored by Friedman at Chicago went on to become leading economists; they include Gary Becker, Robert Fogel, Thomas Sowell,[5] and Robert Lucas, Jr.[6]

Friedman’s challenges to what he later called “naive Keynesian” theory[7] began with his 1950s reinterpretation of the consumption function. In the 1960s, he became the main advocate opposing Keynesian government policies,[8] and described his approach (along with mainstream economics) as using “Keynesian language and apparatus” yet rejecting its “initial” conclusions.[9] He theorized that there existed a “natural” rate of unemployment, and argued that employment above this rate would cause inflation to accelerate.[10] He argued that the Phillips curve was, in the long run, vertical at the “natural rate” and predicted what would come to be known as stagflation.[11] Friedman promoted an alternative macroeconomic viewpoint known as “monetarism“, and argued that a steady, small expansion of the money supply was the preferred policy.[12] His ideas concerning monetary policy, taxation, privatization and deregulation influenced government policies, especially during the 1980s. His monetary theory influenced the Federal Reserve’s response to the global financial crisis of 2007–08.[13]

Friedman was an advisor to Republican U.S. President Ronald Reagan[14] and Conservative British Prime Minister Margaret Thatcher.[15] His political philosophy extolled the virtues of a free market economic system with minimal intervention. He once stated that his role in eliminating U.S. conscription was his proudest accomplishment. In his 1962 book Capitalism and Freedom, Friedman advocated policies such as a volunteer military, freely floating exchange rates, abolition of medical licenses, a negative income tax, and school vouchers.[16] His support for school choice led him to found the Friedman Foundation for Educational Choice, later renamed EdChoice.[17]

Milton Friedman’s works include many monographs, books, scholarly articles, papers, magazine columns, television programs, and lectures, and cover a broad range of economic topics and public policy issues. His books and essays have had an international influence, including in former communist states.[18][19][20][21] A survey of economists ranked Friedman as the second-most popular economist of the twentieth century after John Maynard Keynes,[22] and The Economist described him as “the most influential economist of the second half of the 20th century … possibly of all of it”.[23]

Contents

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Early life

Friedman was born in Brooklyn, New York on July 31, 1912. His parents, Sára Ethel (née Landau) and Jenő Saul Friedman,[24] were Jewish immigrants from Beregszász in Carpathian Ruthenia, Kingdom of Hungary (now Berehove in Ukraine). They both worked as dry goods merchants. Shortly after Milton’s birth, the family relocated to Rahway, New Jersey. In his early teens, Friedman was injured in a car accident, which scarred his upper lip.[25] A talented student, Friedman graduated from Rahway High School in 1928, just before his 16th birthday.[26][27]

In 1932, Friedman graduated from Rutgers University, where he specialized in mathematics and economics and initially intended to become an actuary. During his time at Rutgers, Friedman became influenced by two economics professors, Arthur F. Burns and Homer Jones, who convinced him that modern economics could help end the Great Depression.

After graduating from Rutgers, Friedman was offered two scholarships to do graduate work—one in mathematics at Brown University and the other in economics at the University of Chicago.[28] Friedman chose the latter, thus earning a Master of Arts degree in 1933. He was strongly influenced by Jacob Viner, Frank Knight, and Henry Simons. It was at Chicago that Friedman met his future wife, economist Rose Director. During the 1933–1934 academic year he had a fellowship at Columbia University, where he studied statistics with renowned statistician and economist Harold Hotelling. He was back in Chicago for the 1934–1935 academic year, working as a research assistant for Henry Schultz, who was then working on Theory and Measurement of Demand. That year, Friedman formed what would prove to be lifelong friendships with George Stigler and W. Allen Wallis.[29]

Public service

Friedman was initially unable to find academic employment, so in 1935 he followed his friend W. Allen Wallis to Washington, where Franklin D. Roosevelt‘s New Deal was “a lifesaver” for many young economists.[30] At this stage, Friedman said that he and his wife “regarded the job-creation programs such as the WPA, CCC, and PWA appropriate responses to the critical situation,” but not “the price- and wage-fixing measures of the National Recovery Administration and the Agricultural Adjustment Administration.”[31] Foreshadowing his later ideas, he believed price controls interfered with an essential signaling mechanism to help resources be used where they were most valued. Indeed, Friedman later concluded that all government intervention associated with the New Deal was “the wrong cure for the wrong disease,” arguing that the money supply should simply have been expanded, instead of contracted.[32] Later, Friedman and his colleague Anna Schwartz wrote A Monetary History of the United States, 1867–1960, which argued that the Great Depression was caused by a severe monetary contraction due to banking crises and poor policy on the part of the Federal Reserve.[33]

During 1935, he began work for the National Resources Committee, which was then working on a large consumer budget survey. Ideas from this project later became a part of his Theory of the Consumption Function. Friedman began employment with the National Bureau of Economic Research during autumn 1937 to assist Simon Kuznets in his work on professional income. This work resulted in their jointly authored publication Incomes from Independent Professional Practice, which introduced the concepts of permanent and transitory income, a major component of the Permanent Income Hypothesis that Friedman worked out in greater detail in the 1950s. The book hypothesizes that professional licensing artificially restricts the supply of services and raises prices.

During 1940, Friedman was appointed an assistant professor teaching Economics at the University of Wisconsin–Madison, but encountered antisemitism in the Economics department and decided to return to government service.[34][35] From 1941 to 1943 Friedman worked on wartime tax policy for the Federal Government, as an advisor to senior officials of the United States Department of the Treasury. As a Treasury spokesman during 1942 he advocated a Keynesian policy of taxation. He helped to invent the payroll withholding tax system, since the federal government badly needed money in order to fight the war.[36] He later said, “I have no apologies for it, but I really wish we hadn’t found it necessary and I wish there were some way of abolishing withholding now.”[37]

Academic career

Early years

In 1940, Friedman accepted a position at the University of Wisconsin–Madison, but left because of differences with faculty regarding United States involvement in World War II. Friedman believed the United States should enter the war.[38] In 1943, Friedman joined the Division of War Research at Columbia University (headed by W. Allen Wallis and Harold Hotelling), where he spent the rest of World War II working as a mathematical statistician, focusing on problems of weapons design, military tactics, and metallurgical experiments.[38][39]

In 1945, Friedman submitted Incomes from Independent Professional Practice (co-authored with Kuznets and completed during 1940) to Columbia as his doctoral dissertation. The university awarded him a PhD in 1946. Friedman spent the 1945–1946 academic year teaching at the University of Minnesota (where his friend George Stigler was employed). On February 12, 1945, his son, David D. Friedman was born.

University of Chicago

In 1946, Friedman accepted an offer to teach economic theory at the University of Chicago (a position opened by departure of his former professor Jacob Viner to Princeton University). Friedman would work for the University of Chicago for the next 30 years. There he contributed to the establishment of an intellectual community that produced a number of Nobel Prize winners, known collectively as the Chicago school of economics.

At that time, Arthur F. Burns, who was then the head of the National Bureau of Economic Research, asked Friedman to rejoin the Bureau’s staff. He accepted the invitation, and assumed responsibility for the Bureau’s inquiry into the role of money in the business cycle. As a result, he initiated the “Workshop in Money and Banking” (the “Chicago Workshop”), which promoted a revival of monetary studies. During the latter half of the 1940s, Friedman began a collaboration with Anna Schwartz, an economic historian at the Bureau, that would ultimately result in the 1963 publication of a book co-authored by Friedman and Schwartz, A Monetary History of the United States, 1867–1960.

Friedman spent the 1954–1955 academic year as a Fulbright Visiting Fellow at Gonville and Caius College, Cambridge. At the time, the Cambridge economics faculty was divided into a Keynesian majority (including Joan Robinson and Richard Kahn) and an anti-Keynesian minority (headed by Dennis Robertson). Friedman speculated that he was invited to the fellowship, because his views were unacceptable to both of the Cambridge factions. Later his weekly columns for Newsweek magazine (1966–84) were well read and increasingly influential among political and business people.[40] From 1968 to 1978, he and Paul Samuelson participated in the Economics Cassette Series, a biweekly subscription series where the economist would discuss the days’ issues for about a half-hour at a time.[41][42]

Friedman was an economic adviser to Republican presidential candidate Barry Goldwater during 1964.

Personal life

Retirement

In 1977, at the age of 65, Friedman retired from the University of Chicago after teaching there for 30 years. He and his wife moved to San Francisco where he became a visiting scholar at the Federal Reserve Bank of San Francisco. From 1977 on, he was affiliated with the Hoover Institution at Stanford University. During the same year, Friedman was approached by the Free To Choose Network and asked to create a television program presenting his economic and social philosophy.

The Friedmans worked on this project for the next three years, and during 1980, the ten-part series, titled Free to Choose, was broadcast by the Public Broadcasting Service (PBS). The companion book to the series (co-authored by Milton and his wife, Rose Friedman), also titled Free To Choose, was the bestselling nonfiction book of 1980 and has since been translated into 14 foreign languages.

Friedman served as an unofficial adviser to Ronald Reagan during his 1980 presidential campaign, and then served on the President’s Economic Policy Advisory Board for the rest of the Reagan Administration. Ebenstein says Friedman was “the ‘guru’ of the Reagan administration.”[43] In 1988 he received the National Medal of Science and Reagan honored him with the Presidential Medal of Freedom. Milton Friedman is known now as one of the most influential economists of the 20th century.[44][45] Throughout the 1980s and 1990s, Friedman continued to write editorials and appear on television. He made several visits to Eastern Europe and to China, where he also advised governments. He was also for many years a Trustee of the Philadelphia Society.[46][47][48]

Later life

According to a 2007 article in Commentary magazine, his “parents were moderately observant [Jews], but Friedman, after an intense burst of childhood piety, rejected religion altogether.”[49] He described himself as an agnostic.[50] Friedman wrote extensively of his life and experiences, especially in 1998 in his memoirs with his wife Rose, titled Two Lucky People.

Death

Friedman died of heart failure at the age of 94 years in San Francisco on November 16, 2006.[51] He was still a working economist performing original economic research; his last column was published in The Wall Street Journal the day after his death.[52] He was survived by his wife (who died on August 18, 2009) and their two children, David, known for the anarcho-capitalist book The Machinery of Freedom, and Janet.

Scholarly contributions

Economics

Friedman was best known for reviving interest in the money supply as a determinant of the nominal value of output, that is, the quantity theory of money. Monetarism is the set of views associated with modern quantity theory. Its origins can be traced back to the 16th-century School of Salamanca or even further; however, Friedman’s contribution is largely responsible for its modern popularization. He co-authored, with Anna Schwartz, A Monetary History of the United States, 1867–1960 (1963), which was an examination of the role of the money supply and economic activity in the U.S. history. A striking conclusion of their research regarded the way in which money supply fluctuations contribute to economic fluctuations. Several regression studies with David Meiselman during the 1960s suggested the primacy of the money supply over investment and government spending in determining consumption and output. These challenged a prevailing, but largely untested, view on their relative importance. Friedman’s empirical research and some theory supported the conclusion that the short-run effect of a change of the money supply was primarily on output but that the longer-run effect was primarily on the price level.

Friedman was the main proponent of the monetarist school of economics. He maintained that there is a close and stable association between inflation and the money supply, mainly that inflation could be avoided with proper regulation of the monetary base’s growth rate. He famously used the analogy of “dropping money out of a helicopter.”,[53] in order to avoid dealing with money injection mechanisms and other factors that would overcomplicate his models.

Friedman’s arguments were designed to counter the popular concept of cost-push inflation, that the increased general price level at the time was the result of increases in the price of oil, or increases in wages; as he wrote,

Inflation is always and everywhere a monetary phenomenon.

— Milton Friedman, 1963.[54]

Friedman rejected the use of fiscal policy as a tool of demand management; and he held that the government’s role in the guidance of the economy should be restricted severely. Friedman wrote extensively on the Great Depression, which he termed the Great Contraction, arguing that it had been caused by an ordinary financial shock whose duration and seriousness were greatly increased by the subsequent contraction of the money supply caused by the misguided policies of the directors of the Federal Reserve.

The Fed was largely responsible for converting what might have been a garden-variety recession, although perhaps a fairly severe one, into a major catastrophe. Instead of using its powers to offset the depression, it presided over a decline in the quantity of money by one-third from 1929 to 1933 … Far from the depression being a failure of the free-enterprise system, it was a tragic failure of government.

— Milton Friedman, Two Lucky People, 233[55]

Friedman also argued for the cessation of government intervention in currency markets, thereby spawning an enormous literature on the subject, as well as promoting the practice of freely floating exchange rates. His close friend George Stigler explained, “As is customary in science, he did not win a full victory, in part because research was directed along different lines by the theory of rational expectations, a newer approach developed by Robert Lucas, also at the University of Chicago.”[56] The relationship between Friedman and Lucas, or new classical macroeconomics as a whole, was highly complex. The Friedmanian Phillips curve was an interesting starting point for Lucas, but he soon realized that the solution provided by Friedman was not quite satisfactory. Lucas elaborated a new approach in which rational expectations were presumed instead of the Friedmanian adaptive expectations. Due to this reformulation, the story in which the theory of the new classical Phillips curve was embedded radically changed. This modification, however, had a significant effect on Friedman’s own approach, so, as a result, the theory of the Friedmanian Phillips curve also changed.[57] Moreover, new classical Neil Wallace, who was a graduate student at the University of Chicago between 1960 and 1963, regarded Friedman’s theoretical courses as a mess.[58] This evaluation clearly indicates the broken relationship between Friedmanian monetarism and new classical macroeconomics.

Friedman was also known for his work on the consumption function, the permanent income hypothesis (1957), which Friedman himself referred to as his best scientific work.[59] This work contended that rational consumers would spend a proportional amount of what they perceived to be their permanent income. Windfall gains would mostly be saved. Tax reductions likewise, as rational consumers would predict that taxes would have to increase later to balance public finances. Other important contributions include his critique of the Phillips curve and the concept of the natural rate of unemployment (1968). This critique associated his name, together with that of Edmund Phelps, with the insight that a government that brings about greater inflation cannot permanently reduce unemployment by doing so. Unemployment may be temporarily lower, if the inflation is a surprise, but in the long run unemployment will be determined by the frictions and imperfections of the labor market.

Friedman’s essay “The Methodology of Positive Economics” (1953) provided the epistemological pattern for his own subsequent research and to a degree that of the Chicago School. There he argued that economics as science should be free of value judgments for it to be objective. Moreover, a useful economic theory should be judged not by its descriptive realism but by its simplicity and fruitfulness as an engine of prediction. That is, students should measure the accuracy of its predictions, rather than the ‘soundness of its assumptions’. His argument was part of an ongoing debate among such statisticians as Jerzy Neyman, Leonard Savage, and Ronald Fisher.[60]

Statistics

One of his most famous contributions to statistics is sequential sampling. Friedman did statistical work at the Division of War Research at Columbia, where he and his colleagues came up with the technique. It later became, in the words of The New Palgrave Dictionary of Economics, “the standard analysis of quality control inspection”. The dictionary adds, “Like many of Friedman’s contributions, in retrospect it seems remarkably simple and obvious to apply basic economic ideas to quality control; that however is a measure of his genius.”[61]

Public policy positions

Federal Reserve

Due to its poor performance,[62] Friedman believed that the Federal Reserve Board should be abolished.[63][64] Friedman was deeply critical about Federal Reserve policies, even during the so-called ‘Volcker shock’ that was labelled ‘monetarist.’[65] He further believed that if the money supply was to be centrally controlled (as by the Federal Reserve System) that the preferable way to do it would be with a mechanical system that would keep the quantity of money increasing at a steady rate.

Exchange rates

Friedman was a strong advocate for floating exchange rates throughout the entire Bretton-Woods period. He argued that a flexible exchange rate would make external adjustment possible and allow countries to avoid Balance of Payments crises. He saw fixed exchange rates as an undesirable form of government intervention. The case was articulated in an influential 1953 paper, “The Case for Flexible Exchange Rates”, at a time, when most commentators regarded the possibility of floating exchange rates as a fantasy.[66][67]

School choice

In his 1955 article “The Role of Government in Education”[68] Friedman proposed supplementing publicly operated schools with privately run but publicly funded schools through a system of school vouchers.[69] Reforms similar to those proposed in the article were implemented in, for example, Chile in 1981 and Sweden in 1992.[70] In 1996, Friedman, together with his wife, founded the Friedman Foundation for Educational Choice to advocate school choice and vouchers. In 2016, the Friedman Foundation changed its name to EdChoice to honor the Friedmans’ desire to have the educational choice movement live on without their names attached to it after their deaths.[17]

Conscription

While Walter Oi is credited with establishing the economic basis for a volunteer military, Milton Friedman was a proponent, stating that the draft was “inconsistent with a free society.”[71][72] In Capitalism and Freedom, he argued that conscription is inequitable and arbitrary, preventing young men from shaping their lives as they see fit.[73] During the Nixon administration he headed the committee to research a conversion to paid/volunteer armed force. He would later state that his role in eliminating the conscription in the United States was his proudest accomplishment.[12] Friedman did, however, believe a nation could compel military training as a reserve in case of war time.[73]

Foreign policy

Biographer Lanny Ebenstein noted a drift over time in Friedman’s views from an interventionist to a more cautious foreign policy.[74] He supported US involvement in the Second World War and initially supported a hard line against Communism, but moderated over time.[74] He opposed the Gulf War and the Iraq War.[74] In a spring 2006 interview, Friedman said that the USA’s stature in the world had been eroded by the Iraq War, but that it might be improved if Iraq were to become a peaceful independent country.[75]

Libertarianism and the Republican Party

He served as a member of President Reagan’s Economic Policy Advisory Board starting at 1981. In 1988, he received the Presidential Medal of Freedom and the National Medal of Science. He said that he was a libertarian philosophically, but a member of the U.S. Republican Party for the sake of “expediency” (“I am a libertarian with a small ‘l’ and a Republican with a capital ‘R.’ And I am a Republican with a capital ‘R’ on grounds of expediency, not on principle.”) But, he said, “I think the term classical liberal is also equally applicable. I don’t really care very much what I’m called. I’m much more interested in having people thinking about the ideas, rather than the person.”[76]

Public goods and monopoly

Friedman was supportive of the state provision of some public goods that private businesses are not considered as being able to provide. However, he argued that many of the services performed by government could be performed better by the private sector. Above all, if some public goods are provided by the state, he believed that they should not be a legal monopoly where private competition is prohibited; for example, he wrote:

There is no way to justify our present public monopoly of the post office. It may be argued that the carrying of mail is a technical monopoly and that a government monopoly is the least of evils. Along these lines, one could perhaps justify a government post office, but not the present law, which makes it illegal for anybody else to carry the mail. If the delivery of mail is a technical monopoly, no one else will be able to succeed in competition with the government. If it is not, there is no reason why the government should be engaged in it. The only way to find out is to leave other people free to enter.

— Milton Friedman, Friedman, Milton & Rose D. Capitalism and Freedom, University of Chicago Press, 1982, p. 29

Social security, welfare programs, and negative income tax

After 1960 Friedman attacked Social Security from a free market view stating that it had created welfare dependency.[77]

Friedman proposed that if there had to be a welfare system of any kind, he would replace the existing U.S. welfare system with a negative income tax, a progressive tax system in which the poor receive a basic living income from the government.[78] According to the New York Times, Friedman’s views in this regard were grounded in a belief that while “market forces … accomplish wonderful things”, they “cannot ensure a distribution of income that enables all citizens to meet basic economic needs”.[78]

Drug policy

Friedman also supported libertarian policies such as legalization of drugs and prostitution. During 2005, Friedman and more than 500 other economists advocated discussions regarding the economic benefits of the legalization of marijuana.[79]

Gay rights

Friedman was also a supporter of gay rights.[80][81] He never specifically supported same-sex marriage, instead saying “I do not believe there should be any discrimination against gays.”[81]

Economic freedom

Michael Walker of the Fraser Institute and Friedman hosted a series of conferences from 1986 to 1994. The goal was to create a clear definition of economic freedom and a method for measuring it. Eventually this resulted in the first report on worldwide economic freedom, Economic Freedom in the World.[82] This annual report has since provided data for numerous peer-reviewed studies and has influenced policy in several nations.

Along with sixteen other distinguished economists he opposed the Copyright Term Extension Act and filed an amicus brief in Eldred v. Ashcroft.[83] He supported the inclusion of the word “no-brainer” in the brief.[84]

Friedman argued for stronger basic legal (constitutional) protection of economic rights and freedoms to further promote industrial-commercial growth and prosperity and buttress democracy and freedom and the rule of law generally in society.[85]

Honors, recognition, and influence

George H. Nash, a leading historian of American conservatism, says that by, “the end of the 1960s he was probably the most highly regarded and influential conservative scholar in the country, and one of the few with an international reputation.”[86] Friedman allowed the libertarian Cato Institute to use his name for its biannual Milton Friedman Prize for Advancing Liberty beginning in 2001. A Friedman Prize was given to the late British economist Peter Bauer in 2002, Peruvian economist Hernando de Soto in 2004, Mart Laar, former Estonian Prime Minister in 2006 and a young Venezuelan student Yon Goicoechea in 2008. His wife Rose, sister of Aaron Director, with whom he initiated the Friedman Foundation for Educational Choice, served on the international selection committee.[87][88] Friedman was also a recipient of the Nobel Prize in Economics.

Upon Friedman’s death, Harvard President Lawrence Summers called him “The Great Liberator” saying “… any honest Democrat will admit that we are now all Friedmanites.” He said Friedman’s great popular contribution was “in convincing people of the importance of allowing free markets to operate.”[89]

In 2013 Stephen Moore, a member of the editorial forward of the Wall Street Journal said, “Quoting the most-revered champion of free-market economics since Adam Smith has become a little like quoting the Bible.” He adds, “There are sometimes multiple and conflicting interpretations.”[90]

Nobel Memorial Prize in Economic Sciences

Friedman won the Nobel Memorial Prize in Economic Sciences, the sole recipient for 1976, “for his achievements in the fields of consumption analysis, monetary history and theory and for his demonstration of the complexity of stabilization policy.”[4]

Hong Kong

Friedman once said, “If you want to see capitalism in action, go to Hong Kong.”[91] He wrote in 1990 that the Hong Kong economy was perhaps the best example of a free market economy.[92]

One month before his death, he wrote the article “Hong Kong Wrong – What would Cowperthwaite say?” in the Wall Street Journal, criticizing Donald Tsang, the Chief Executive of Hong Kong, for abandoning “positive noninterventionism.”[93] Tsang later said he was merely changing the slogan to “big market, small government,” where small government is defined as less than 20% of GDP. In a debate between Tsang and his rival, Alan Leong, before the 2007 Chief Executive election, Leong introduced the topic and jokingly accused Tsang of angering Friedman to death.

Chile

Main articles: Miracle of Chile and Chicago Boys

During 1975, two years after the military coup that brought military dictator President Augusto Pinochet to power and ended the government of Salvador Allende, the economy of Chile experienced a severe crisis. Friedman and Arnold Harberger accepted an invitation of a private Chilean foundation to visit Chile and speak on principles of economic freedom.[94] He spent seven days in Chile giving a series of lectures at the Universidad Católica de Chile and the (National) University of Chile. One of the lectures was entitled “The Fragility of Freedom” and according to Friedman, “dealt with precisely the threat to freedom from a centralized military government.”[95]

In an April 21, 1975, letter to Pinochet, Friedman considered the “key economic problems of Chile are clearly … inflation and the promotion of a healthy social market economy“.[96] He stated that “There is only one way to end inflation: by drastically reducing the rate of increase of the quantity of money …” and that “… cutting government spending is by far and away the most desirable way to reduce the fiscal deficit, because it … strengthens the private sector thereby laying the foundations for healthy economic growth”.[96] As to how rapidly inflation should be ended, Friedman felt that “for Chile where inflation is raging at 10–20% a month … gradualism is not feasible. It would involve so painful an operation over so long a period that the patient would not survive.” Choosing “a brief period of higher unemployment…” was the lesser evil.. and that “the experience of Germany, … of Brazil …, of the post-war adjustment in the U.S. … all argue for shock treatment“. In the letter Friedman recommended to deliver the shock approach with “… a package to eliminate the surprise and to relieve acute distress” and “… for definiteness let me sketch the contents of a package proposal … to be taken as illustrative” although his knowledge of Chile was “too limited to enable [him] to be precise or comprehensive”. He listed a “sample proposal” of 8 monetary and fiscal measures including “the removal of as many as obstacles as possible that now hinder the private market. For example, suspend … the present law against discharging employees”. He closed, stating “Such a shock program could end inflation in months”. His letter suggested that cutting spending to reduce the fiscal deficit would result in less transitional unemployment than raising taxes.

Sergio de Castro, a Chilean Chicago School graduate, became the nation’s Minister of Finance in 1975. During his six-year tenure, foreign investment increased, restrictions were placed on striking and labor unions, and GDP rose yearly.[97] A foreign exchange program was created between the Catholic University of Chile and the University of Chicago. Many other Chicago School alumni were appointed government posts during and after the Pinochet years; others taught its economic doctrine at Chilean universities. They became known as the Chicago Boys.[98]

Friedman did not criticize Pinochet’s dictatorship at the time, nor the assassinations, illegal imprisonments, torture, or other atrocities that were well known by then.[99] In 1976 Friedman defended his unofficial adviser position with: “I do not consider it as evil for an economist to render technical economic advice to the Chilean Government, any more than I would regard it as evil for a physician to give technical medical advice to the Chilean Government to help end a medical plague.”[100]

Friedman defended his activity in Chile on the grounds that, in his opinion, the adoption of free market policies not only improved the economic situation of Chile but also contributed to the amelioration of Pinochet’s rule and to the eventual transition to a democratic government during 1990. That idea is included in Capitalism and Freedom, in which he declared that economic freedom is not only desirable in itself but is also a necessary condition for political freedom. In his 1980 documentary Free to Choose, he said the following: “Chile is not a politically free system, and I do not condone the system. But the people there are freer than the people in Communist societies because government plays a smaller role. … The conditions of the people in the past few years has been getting better and not worse. They would be still better to get rid of the junta and to be able to have a free democratic system.”[101][102] In 1984, Friedman stated that he has “never refrained from criticizing the political system in Chile.”[95] In 1991 he said: “I have nothing good to say about the political regime that Pinochet imposed. It was a terrible political regime. The real miracle of Chile is not how well it has done economically; the real miracle of Chile is that a military junta was willing to go against its principles and support a free market regime designed by principled believers in a free market. […] In Chile, the drive for political freedom, that was generated by economic freedom and the resulting economic success, ultimately resulted in a referendum that introduced political democracy. Now, at long last, Chile has all three things: political freedom, human freedom and economic freedom. Chile will continue to be an interesting experiment to watch to see whether it can keep all three or whether, now that it has political freedom,that political freedom will tend to be used to destroy or reduce economic freedom.”[103] He stressed that the lectures he gave in Chile were the same lectures he later gave in China and other socialist states.[104]

During the 2000 PBS documentary The Commanding Heights (based on the book), Friedman continued to argue that “free markets would undermine [Pinochet’s] political centralization and political control.”,[105][106] and that criticism over his role in Chile missed his main contention that freer markets resulted in freer people, and that Chile’s unfree economy had caused the military government. Friedman advocated for free markets which undermined “political centralization and political control”.[107]

Iceland

Friedman visited Iceland during the autumn of 1984, met with important Icelanders and gave a lecture at the University of Iceland on the “tyranny of the status quo.” He participated in a lively television debate on August 31, 1984 with socialist intellectuals, including Ólafur Ragnar Grímsson, who later became the president of Iceland.[108] When they complained that a fee was charged for attending his lecture at the University and that, hitherto, lectures by visiting scholars had been free-of-charge, Friedman replied that previous lectures had not been free-of-charge in a meaningful sense: lectures always have related costs. What mattered was whether attendees or non-attendees covered those costs. Friedman thought that it was fairer that only those who attended paid. In this discussion Friedman also stated that he did not receive any money for delivering that lecture.

Estonia

Although Friedman never visited Estonia, his book Free to Choose exercised a great influence on that nation’s then 32-year-old prime minister, Mart Laar, who has claimed that it was the only book on economics he had read before taking office. Laar’s reforms are often credited with responsibility for transforming Estonia from an impoverished Soviet Republic to the “Baltic Tiger.” A prime element of Laar’s program was introduction of the flat tax. Laar won the 2006 Milton Friedman Prize for Advancing Liberty, awarded by the Cato Institute.[109]

United Kingdom

After 1950 Friedman was frequently invited to lecture in Britain, and by the 1970s his ideas had gained widespread attention in conservative circles. For example, he was a regular speaker at the Institute of Economic Affairs (IEA), a libertarian think tank. Conservative politician Margaret Thatcher closely followed IEA programs and ideas, and met Friedman there in 1978. He also strongly influenced Keith Joseph, who became Thatcher’s senior advisor on economic affairs, as well as Alan Walters and Patrick Minford, two other key advisers. Major newspapers, including the Daily Telegraph, The Times, and The Financial Times all promulgated Friedman’s monetarist ideas to British decision-makers. Friedman’s ideas strongly influenced Thatcher and her allies when she became Prime Minister in 1979.[110][111]

Criticism

Econometrician David Hendry criticized part of Friedman’s and Anna Schwartz’s 1982 Monetary Trends.[112] When asked about it during an interview with Icelandic TV in 1984,[113] Friedman said that the criticism referred to a different problem from that which he and Schwartz had tackled, and hence was irrelevant,[114] and pointed out the lack of consequential peer review amongst econometricians on Hendry’s work.[115] In 2006, Hendry said that Friedman was guilty of “serious errors” of misunderstanding that meant “the t-ratios he reported for UK money demand were overstated by nearly 100 per cent”, and said that, in a paper published in 1991 with Neil Ericsson,[116] he had refuted “almost every empirical claim […] made about UK money demand” by Friedman and Schwartz.[117] A 2004 paper updated and confirmed the validity of the Hendry–Ericsson findings through 2000.[118]

Although Keynesian Nobel laureate Paul Krugman praised Friedman as a “great economist and a great man” after Friedman’s death in 2006, and acknowledged his many, widely accepted contributions to empirical economics, Krugman had been, and remains, a prominent critic of Friedman. Krugman has written that “he slipped all too easily into claiming both that markets always work and that only markets work. It’s extremely hard to find cases in which Friedman acknowledged the possibility that markets could go wrong, or that government intervention could serve a useful purpose.”[119]

In her book The Shock Doctrine, author and social activist Naomi Klein criticized Friedman’s economic liberalism, identifying it with the principles that guided the economic restructuring that followed the military coups in countries such as Chile and Indonesia. Based on their assessments of the extent to which what she describes as neoliberal policies contributed to income disparities and inequality, both Klein and Noam Chomsky have suggested that the primary role of what they describe as neoliberalism was as an ideological cover for capital accumulation by multinational corporations.[120]

Visit to Chile

Because of his involvement with the Pinochet government, there were international protests when Friedman was awarded the Nobel Prize in 1976.[121] Friedman was accused of supporting the military dictatorship in Chile because of the relation of economists of the University of Chicago to Pinochet, and a controversial six-day trip[122] he took to Chile during March 1975 (less than two years after the coup that deposed President Salvador Allende). Friedman answered that he never was an adviser to the dictatorship, but only gave some lectures and seminars on inflation, and met with officials, including Augusto Pinochet, while in Chile.[123]

Chilean economist Orlando Letelier asserted that Pinochet’s dictatorship resorted to oppression because of popular opposition to Chicago School policies in Chile.[124] After a 1991 speech on drug legalisation, Friedman answered a question on his involvement with the Pinochet regime, saying that he was never an advisor to Pinochet (also mentioned in his 1984 Iceland interview[95]), but that a group of his students at the University of Chicago were involved in Chile’s economic reforms. Friedman credited these reforms with high levels of economic growth and with the establishment of democracy that has subsequently occurred in Chile.[125][126] In October 1988, after returning from a lecture tour of China during which he had met with Zhao Ziyang, Friedman wrote to The Stanford Daily asking if he should anticipate a similar “avalanche of protests for having been willing to give advice to so evil a government? And if not, why not?”[127]

Capitalism and Freedom

Capitalism and Freedom is a seminal work by Friedman. In the book, Friedman talks about the need to move to a classically liberal society, that free markets would help nations and individuals in the long-run and fix the efficiency problems currently faced by the United States and other major countries of the 1950s and 1960s. He goes through the chapters specifying a specific issue in each respective chapter from the role of government and money supply to social welfare programs to a special chapter on occupational licensure. Friedman concludes Capitalism and Freedom with his “classical liberal” stance, that government should stay out of matters that do not need and should only involve itself when absolutely necessary for the survival of its people and the country. He recounts how the best of a country’s abilities come from its free markets while its failures come from government intervention.[77]

Selected bibliography

  • A Theory of the Consumption Function (1957)
  • A Program for Monetary Stability (Fordham University Press, 1960) 110 pp. online version
  • Capitalism and Freedom (1962), highly influential series of essays that established Friedman’s position on major issues of public policy excerpts
  • A Monetary History of the United States, 1867–1960, with Anna J. Schwartz, 1963; part 3 reprinted as The Great Contraction
  • “The Role of Monetary Policy.” American Economic Review, Vol. 58, No. 1 (Mar., 1968), pp. 1–17 JSTOR presidential address to American Economics Association
  • “Inflation and Unemployment: Nobel lecture”, 1977, Journal of Political Economy. Vol. 85, pp. 451–72. JSTOR
  • Free to Choose: A personal statement, with Rose Friedman, (1980), highly influential restatement of policy views
  • The Essence of Friedman, essays edited by Kurt R. Leube, (1987) (ISBN 0-8179-8662-6)
  • Two Lucky People: Memoirs (with Rose Friedman) ISBN 0-226-26414-9 (1998) excerpt and text search
  • Milton Friedman on Economics: Selected Papers by Milton Friedman, edited by Gary S. Becker (2008)
  • An Interview with Milton Friedman, John B. Taylor (2001). Macroeconomic Dynamics, 5, pp 101–31

See also

Notes

  1. Jump up^ Ebenstein, Lanny (2007). Milton Friedman: A Biography. Palgrave Macmillan. p. 89.
  2. Jump up^ Charles Moore (2013). Margaret Thatcher: The Authorized Biography, Volume One: Not For Turning. Penguin. pp. 576–77.
  3. Jump up^ Lanny Ebenstein (2007). Milton Friedman: A Biography. St. Martin’s Press. p. 208.
  4. ^ Jump up to:a b “Milton Friedman on nobelprize.org”. Nobel Prize. 1976. Retrieved February 20, 2008.
  5. Jump up^ Thomas Sowell (2016-09-16). A Personal Odyssey. Free Press. p. 320. ISBN 0743215087.
  6. Jump up^ The Chicago School: How the University of Chicago Assembled the Thinkers Who Revolutionized Economics and Business
  7. Jump up^ “Milton Friedman”. Commanding Heights. PBS. October 1, 2000. Retrieved September 19, 2011.
  8. Jump up^ Milton Friedman—Economist as Public Intellectual
  9. Jump up^ Mark Skousen (2009-02-28). The Making of Modern Economics: The Lives and Ideas of the Great Thinkers. M.E. Sharpe. p. 407. ISBN 0-7656-2227-0.
  10. Jump up^ Among macroeconomists, the “natural” rate has been increasingly replaced by James Tobin‘s NAIRU, the non-accelerating inflation rate of unemployment, which is seen as having fewer normative connotations.
  11. Jump up^ Nobel prize winner Paul Krugman stated that, “In 1968 in one of the decisive intellectual achievements of postwar economics, Friedman not only showed why the apparent tradeoff embodied in the idea of the Phillips curve was wrong; he also predicted the emergence of combined inflation and high unemployment … dubbed ‘stagflation.” Paul Krugman, Peddling Prosperity: Economic Sense and Nonsense in an Age of Diminished Expectations (1995) p. 43 online
  12. ^ Jump up to:a b Doherty, Brian (June 1, 1995). “Best of Both Worlds”. Reason Magazine. Retrieved October 24, 2009
  13. Jump up^ Edward Nelson, “Friedman’s Monetary Economics in Practice,” Finance and Economics Discussion Series, Divisions of Research & Statistics and Monetary Affairs, Federal Reserve Board, April 13, 2011. Nelson stated, “in important respects, the overall monetary and financial policy response to the crisis can be viewed as Friedman’s monetary economics in practice.” and “Friedman’s recommendations for responding to a financial crisis largely lined up with the principal financial and monetary policy measures taken since 2007.” Nelson, “Review,” in Journal of Economic Literature (Dec, 2012) 50#4 pp. 1106–09
  14. Jump up^ Lanny Ebenstein (2007). Milton Friedman: A Biography. St. Martin’s Press. p. 208.
  15. Jump up^ Charles Moore (2013). Margaret Thatcher: The Authorized Biography, Volume One: Not For Turning. Penguin. pp. 576–77.
  16. Jump up^ Milton Friedman (1912–2006)
  17. ^ Jump up to:a b Sullivan, Maureen (July 30, 2016). “Milton Friedman’s Name Disappears From Foundation, But His School-Choice Beliefs Live On”. Forbes. Retrieved 14 September 2016.
  18. Jump up^ “Capitalism and Friedman” (editorial), The Wall Street Journal November 17, 2006
  19. Jump up^ Václav Klaus (January 29, 2007). “Remarks at Milton Friedman Memorial Service”. Retrieved August 22, 2008.
  20. Jump up^ Johan Norberg, Defaming Milton Friedman: Naomi Klein’s disastrous yet popular polemic against the great free market economist, Reason Magazine, Washington, D.C., Oct. 2008
  21. Jump up^ Friedman 1999, p. 506
  22. Jump up^ Davis, William L, Bob Figgins, David Hedengren, and Daniel B. Klein. “Economic Professors’ Favorite Economic Thinkers, Journals, and Blogs”, Econ Journal Watch 8(2): 126–46, May 2011.
  23. Jump up^ “Milton Friedman, a giant among economists”. The Economist. November 23, 2006. Retrieved February 20, 2008.
  24. Jump up^ “Who’s who in American Jewry”. 1980.
  25. Jump up^ Alan O. Ebenstein, Milton Friedman: a biography (2007) p. 10; Milton & Rose Friedman, Two Lucky People. Memoirs, Chicago 1998, p. 22.
  26. Jump up^ Eamonn Butler, Milton Friedman (2011) ch 1
  27. Jump up^ Alan O. Ebenstein, Milton Friedman: a biography (2007) pp. 5–12
  28. Jump up^ “Milton Friedman and his start in economics”. Young America’s Foundation. August 2006. Retrieved March 12, 2012.
  29. Jump up^ Ebenstein, Milton Friedman: a biography (2007) pp. 13–30
  30. Jump up^ Feeney, Mark (November 16, 2006). “Nobel laureate economist Milton Friedman dies at 94”. The Boston Globe. Retrieved February 20, 2008.
  31. Jump up^ Friedman 1999, p. 59
  32. Jump up^ “Right from the Start? What Milton Friedman can teach progressives.” (PDF). J. Bradford DeLong. Retrieved February 20, 2008.
  33. Jump up^ Bernanke 2004, p. 7
  34. Jump up^ Friedman 1999, p. 42
  35. Jump up^ Friedman 1999, pp. 84–85
  36. Jump up^ Milton Friedman; Rose D. Friedman (1999). Two Lucky People: Memoirs. University of Chicago Press. pp. 122–23. ISBN 9780226264158.
  37. Jump up^ Doherty, Brian (June 1995). “Best of Both Worlds”. Reason. Retrieved July 28, 2010.
  38. ^ Jump up to:a b “Milton Friedman Biography – Academy of Achievement”. Achievement.org. Retrieved 2014-04-22.
  39. Jump up^ Philip Mirowski (2002). Machine Dreams: Economics Becomes a Cyborg Science. Cambridge University Press. pp. 202–03. ISBN 9780521775267.
  40. Jump up^ CATO, “Letter from Washington,” National Review, September 19, 1980, Vol. 32 Issue 19, p. 1119
  41. Jump up^ Rose and Milton Friedman
  42. Jump up^ Inventory of the Paul A. Samuelson Papers, 1933–2010 and undated | Finding Aids | Rubenstein Library
  43. Jump up^ Ebenstein (2007). Milton Friedman: A Biography. p. 208.
  44. Jump up^ “Milton Friedman: An enduring legacy”. The Economist. November 17, 2006. Retrieved February 20, 2008.
  45. Jump up^ Sullivan, Patricia (November 17, 2006). “Economist Touted Laissez-Faire Policy”. The Washington Post. Retrieved February 20, 2008.
  46. Jump up^ Milton Friedman – Biography | Cato Institute
  47. Jump up^ Trustees
  48. Jump up^ Milton Friedman
  49. Jump up^ Lanny Ebenstein, Milton Friedman, Commentary, May 2007, p. 286.
  50. Jump up^ Asman, David (November 16, 2006). “‘Your World’ Interview With Economist Milton Friedman”. Fox News. Retrieved August 2, 2011.
  51. Jump up^ Christie, Jim (November 16, 2006). “Free market economist Milton Friedman dead at 94”. Reuters. Retrieved February 20, 2008.
  52. Jump up^ Peter Robinson (2008-10-17). “What Would Milton Friedman Say?”. forbes.com. Retrieved 2014-12-13.
  53. Jump up^ Optimum Quantity of Money. Aldine Publishing Company. 1969. p. 4.
  54. Jump up^ Friedman, Milton. Inflation: Causes and Consequences. New York: Asia Publishing House.
  55. Jump up^ “Milton Friedman: END THE FED”. Themoneymasters.com. Retrieved 2014-04-22.
  56. Jump up^ Friedman, Milton (1969). Memoirs of an Unregulated Economist. Aldine Publishing Company. p. 4.
  57. Jump up^ Galbács, Peter (2015). The Theory of New Classical Macroeconomics. A Positive Critique. Heidelberg/New York/Dordrecht/London: Springer. doi:10.1007/978-3-319-17578-2. ISBN 978-3-319-17578-2.
  58. Jump up^ Kevin Hoover; Warren Young (2011). Rational Expectations – Retrospect and Prospect (PDF). Durham: Center for the History of Political Economy at Duke University.
  59. Jump up^ “Charlie Rose Show”. December 26, 2005. Missing or empty |series= (help)
  60. Jump up^ David Teira, “Milton Friedman, the Statistical Methodologist,” History of Political Economy (2007) 39#3 pp. 511–27,
  61. Jump up^ The Life and Times of Milton Friedman – Remembering the 20th century’s most influential libertarian
  62. Jump up^ https://www.youtube.com/watch?v=m6fkdagNrjI “There in no institution in the US that has such a high public standing and such a poor record of performance” “It’s done more harm than good”
  63. Jump up^ “My first preference would be to abolish the Federal Reserve” on YouTube
  64. Jump up^ https://www.youtube.com/watch?v=m6fkdagNrjI “I have long been in favor of abolishing it.”
  65. Jump up^ Reichart Alexandre & Abdelkader Slifi (2016). ‘The Influence of Monetarism on Federal Reserve Policy during the 1980s.’ Cahiers d’économie Politique/Papers in Political Economy, (1), pp. 107–50. https://www.cairn.info/revue-cahiers-d-economie-politique-2016-1-page-107.htm
  66. Jump up^ [1]
  67. Jump up^ [2]
  68. Jump up^ Friedman, Milton (1955). Solo, Robert A., ed. “The Role of Government in Education,” as printed in the book Economics and the Public Interest (PDF). Rutgers University Press. pp. 123–144.
  69. Jump up^ Leonard Ross and Richard Zeckhauser (December 1970). “Review: Education Vouchers”. The Yale Law Journal. 80 (2): 451–61. doi:10.2307/795126. JSTOR 795126.
  70. Jump up^ Martin Carnoy (August 1998). “National Voucher Plans in Chile and Sweden: Did Privatization Reforms Make for Better Education?”. Comparative Education Review. 42 (3): 309–37. doi:10.1086/447510. JSTOR 1189163.
  71. Jump up^ Milton Friedman (1991). The War on Drugs. America’s Drug Forum.
  72. Jump up^ Rostker, Bernard (2006). I Want You!: The Evolution of the All-Volunteer Force. Rand Corporation. p. 4. ISBN 978-0-8330-3895-1.
  73. ^ Jump up to:a b Friedman, Milton (November 15, 2002). Capitalism and Freedom. University Of Chicago Press. p. 36.
  74. ^ Jump up to:a b c Ebenstein, Lanny (2007). Milton Friedman: a biography. New York: St. Martin’s Press. pp. 231–32. ISBN 978-0-230-60409-4.
  75. Jump up^ Ebenstein, Lanny (2007). Milton Friedman: a biography. New York: St. Martin’s Press. p. 243. ISBN 978-0-230-60409-4.
  76. Jump up^ Friedman and Freedom. Queen’s Journal. Archived from the original on August 11, 2006. Retrieved February 20, 2008., Interview with Peter Jaworski. The Journal, Queen’s University, March 15, 2002 – Issue 37, Volume 129
  77. ^ Jump up to:a b Milton Friedman; Rose D. Friedman (1962). Capitalism and Freedom: Fortieth Anniversary Edition. U. of Chicago Press. ISBN 9780226264189.
  78. ^ Jump up to:a b Frank, Robert H (2006-11-23). “The Other Milton Friedman: A Conservative With a Social Welfare Program”. New York Times. The New York Times.
  79. Jump up^ “An open letter”. Prohibition Costs. Retrieved November 9, 2012.
  80. Jump up^ “Milton Friedman”. Liberal Democratic Party (Australia). Retrieved February 19, 2013.
  81. ^ Jump up to:a b Alan O. Ebenstein, Milton Friedman: A Biography (2007) p. 228
  82. Jump up^ “Economic Freedom of the World project”. Fraser Institute. Retrieved 16 February 2016.
  83. Jump up^ “In the Supreme Court of the United States” (PDF). Harvard Law School. Retrieved February 20, 2008.
  84. Jump up^ Lessig, Lawrence (November 19, 2006). “only if the word ‘no-brainer’ appears in it somewhere: RIP Milton Friedman (Lessig Blog)”. Lessig.org. Retrieved April 2, 2013.
  85. Jump up^ “A New British Bill of Rights: The Case For”. ISR Online Guide. Retrieved 16 February 2016.
  86. Jump up^ Lanny Ebenstein (2007). Milton Friedman: A Biography. Palgrave Macmillan. p. 260.
  87. Jump up^ Selection Committee Announced for the 2008 Milton Friedman Prize for Advancing Liberty,” Cato Institute, September 5, 2007. Accessed 4 January 2014.
  88. Jump up^ Milton Friedman Prize page at Cato Institute website. Accessed 5 January 2014.
  89. Jump up^ Summers, Larry (November 19, 2006). “The Great Liberator”. The New York Times.
  90. Jump up^ Stephen Moore, What Would Milton Friedman Say?” Wall Street Journal, May 30, 2013 p. A13
  91. Jump up^ Ingdahl, Waldemar (March 22, 2007). “Real Virtuality”. The American. Retrieved February 20, 2008.
  92. Jump up^ Friedman, Milton; Friedman, Rose (1990). Free to Choose: A Personal Statement. Harvest Books. p. 34. ISBN 0-15-633460-7.
  93. Jump up^ Friedman, Milton (October 6, 2006). “Dr. Milton Friedman”. Opinion Journal. Retrieved February 20, 2008.
  94. Jump up^ Letter from Arnold Harberger to Stig Ramel as reprinted in the Wall Street Journal 12/10/1976, and in Two Lucky People: Memoirs By Milton Friedman, Rose D. Friedman. Appendix A, pp. 598–99. Accessible at books.google.com
  95. ^ Jump up to:a b c Milton Friedman (August 31, 1984). Iceland Television Debate (Flash Video) (Television production). Reykjavík: Icelandic State Television. Event occurs at 009:48:00. Retrieved June 27, 2010.
  96. ^ Jump up to:a b [http:// Two Lucky People: Memoirs By Milton Friedman, Rose D. Friedman. Appendix A, pp. 591–93. Letter from Friedman to Pinochet, April 21, 1975.]
  97. Jump up^ Mask II, William Ray (May 2013). The Great Chilean Recovery: Assigning Responsibility For The Chilean Miracle(s) (Thesis). California State University, Fresno.
  98. Jump up^ “Chile and the “Chicago Boys””. The Hoover Institution. Stanford University. Retrieved 20 June 2014.
  99. Jump up^ O’Shaughnessy, Hugh (December 11, 2006). “General Augusto Pinochet”. The Independent. Retrieved February 20, 2008.
  100. Jump up^ Newsweek of June 14, 1976
  101. Jump up^ “Free to Choose Vol. 5”. Archived from the original on February 9, 2008. Retrieved February 20, 2008.
  102. Jump up^ Frances Fox Piven vs. Milton Friedman, Thomas Sowell, debate, 1980, YouTube.
  103. Jump up^ The Smith Center: Milton Friedman’s lecture, “Economic Freedom, Human Freedom, Political Freedom”, by Milton Friedman, delivered November 1, 1991.
  104. Jump up^ Friedman 1999, pp. 600–01
  105. Jump up^ “Interview with Jeffery Sachs on the “Miracle of Chile””. PBS. Retrieved February 20, 2008.
  106. Jump up^ “Commanding Heights: Milton Friedman”. PBS. Retrieved December 29, 2008.
  107. Jump up^ “Milton Friedman interview”. PBS. Retrieved February 20, 2008.
  108. Jump up^ Friedman, Milton; Grímsson, Ólafur Ragnar. Milton Friedman on Icelandic State Television in 1984.
  109. Jump up^ “Mart Laar”. Cato Institute. Retrieved February 20, 2008.
  110. Jump up^ John F. Lyons (2013). America in the British Imagination: 1945 to the Present. Palgrave Macmillan. p. 102.
  111. Jump up^ Subroto Roy & John Clarke, eds., Margaret Thatcher’s Revolution: How it Happened and What it Meant (Continuum 2005)
  112. Jump up^ David F. Hendry; Neil R. Ericsson (October 1983). “Assertion without Empirical Basis: An Econometric Appraisal of ‘Monetary Trends in … the United Kingdom’ by Milton Friedman and Anna Schwartz,” in Monetary Trends in the United Kingdom, Bank of England Panel of Academic Consultants, Panel Paper No. 22, pp. 45–101.See also Federal Reserve International Finance Discussion Paper No. 270 (December 1985), which is a revised and shortened version of Hendry–Ericsson 1983.
  113. Jump up^ “M.Friedman – Iceland TV (1984)”. YouTube. Retrieved 16 February 2016.
  114. Jump up^ van Steven Moore, CMA (1984-08-31). “Milton Friedman – Iceland 2 of 8”. YouTube. Retrieved 2014-04-22.
  115. Jump up^ J. Daniel Hammond (2005). Theory and Measurement: Causality Issues in Milton Friedman’s Monetary Economics. Cambridge U.P. pp. 193–99.
  116. Jump up^ David F. Hendry; Neil R. Ericsson (July 1989). “An Econometric Analysis of UK Money Demand in Monetary Trends in the United States and the United Kingdom by Milton Friedman and Anna J. Schwartz” (PDF). International Finance Discussion Papers: 355. Federal Reserve. Retrieved 2 August 2013.
  117. Jump up^ Hendry, David F. (25 April 2013). “Friedman’s t-ratios were overstated by nearly 100%”. ft.com. Retrieved 1 May 2013.
  118. Jump up^ Escribano, Alvaro (2004). “Nonlinear error correction: The case of money demand in the United Kingdom (1878–2000)” (PDF). Macroeconomic Dynamics. 8 (1): 76–116. doi:10.1017/S1365100503030013.
    Escribano’s approach had already been recognized by Friedman, Schwartz, Hendry et al. (p. 14 of the pdf) as yielding significant improvements over previous money demand equations.
  119. Jump up^ The New York Review of Books, Who Was Milton Friedman?, February 15, 2007
  120. Jump up^ Noam Chomsky (1999). Profit Over People: Neoliberalism and Global Order. New York, NY: Seven Stories Press.
  121. Jump up^ Feldman, Burton (2000). “Chapter 9: The Economics Memorial Prize”. The Nobel Prize: A History of Genius, Controversy, and Prestige. New York: Arcade Publishing. p. 350. ISBN 1-55970-537-X.
  122. Jump up^ O’Shaughnessy, Hugh (11 December 2006). “General Augusto Pinochet”. The Independent.
  123. Jump up^ Friedman, Milton; Friedman, Rose D. “Two Lucky People: One Week in Stockholm”. Hoover Digest: Research and Opinion on Public Policy. 1998 (4).
  124. Jump up^ Orlando Letelier, “Economic Freedom’s Awful Toll”, The Nation, August 28, 1976.
  125. Jump up^ The Drug War as a Socialist Enterprise, Milton Friedman, From: Friedman & Szasz on Liberty and Drugs, edited and with a Preface by Arnold S. Trebach and Kevin B. Zeese. Washington, D.C.: The Drug Policy Foundation, 1992.
  126. Jump up^ YouTube clip: Milton Friedman – Pinochet and Chile
  127. Jump up^ Friedman, Milton; Friedman, Rose D. Two Lucky People: Memoirs. University of Chicago Press. ISBN 9780226264158. Retrieved 18 October 2016.

References

  • Bernanke, Ben (2004). Essays on the Great Depression. Princeton University Press. ISBN 0-691-11820-5
  • Butler, Eamonn (2011). Milton Friedman. Harriman Economic Essentials.
  • Ebenstein, Alan O. (2007). Milton Friedman: a biography.
  • Friedman, Milton (1999). Two Lucky People: Memoirs. University of Chicago Press. ISBN 0-226-26415-7.
  • Wood, John Cunningham, and Ronald N. Wood, ed. (1990), Milton Friedman: Critical Assessments, v. 3. Scroll to chapter-preview links. Routledge.

Further reading

External links

Free to Choose (original series) https://www.youtube.com/watch?v=f1Fj5tzuYBE

Videos

Robert Mundell

From Wikipedia, the free encyclopedia
Robert Mundell
Rmundell.jpg
Born October 24, 1932 (age 84)
Kingston, Ontario, Canada
Nationality Canadian
Institution Johns Hopkins University (1959–61, 1997–98, 2000–01)
University of Chicago (1965–72)
Graduate Institute of International Studies in Geneva, Switzerland (1965–75) [1]
University of Waterloo (1972–74)
McGill University (1989–1990)[2]
Columbia University (1974 – present)
Chinese University of Hong Kong (2009 – present)
Field Monetary economics
School or
tradition
Supply-side economics
Alma mater London School of Economics
UBC Vancouver School of Economics
University of Washington
Massachusetts Institute of Technology
University of Waterloo
Doctoral
advisor
Charles Kindleberger[3]
Doctoral
students
Jacob A. Frenkel
Rudi Dornbusch[4]
Carmen Reinhart[5]
Influences Ludwig Von Mises
Influenced Arthur Laffer
Jude Wanniski
Michael Mussa
Contributions Mundell–Fleming model
Optimum currency areas
Research on the gold standard
Awards Nobel Memorial Prize in Economics (1999)
Information at IDEAS / RePEc

Robert Alexander Mundell, CC (born October 24, 1932) is a Nobel Prize-winning Canadian economist. Currently, he is a professor of economics at Columbia University and the Chinese University of Hong Kong.

He received the Nobel Memorial Prize in Economics in 1999 for his pioneering work in monetary dynamics and optimum currency areas. Mundell is known as the “father”[6] of the Euro, as he laid the groundwork for its introduction through this work and helped to start the movement known as supply-side economics. Mundell is also known for the Mundell–Fleming model and Mundell–Tobin effect.

Background

Mundell was born in Kingston, Ontario, Canada. He earned his BA in Economics at the University of British Columbia in Vancouver, Canada, and his MA at the University of Washington in Seattle. After studying at the University of British Columbia and at The London School of Economics in 1956,[7] he then attended the Massachusetts Institute of Technology (MIT), where he obtained his PhD in Economics in 1956. In 2006 Mundell earned an honorary Doctor of Laws degree from the University of Waterloo in Canada.[8] He was Professor of Economics and Editor of the Journal of Political Economy at the University of Chicago from 1965 to 1972, Chairman of the Department of Economics at the University of Waterloo 1972 to 1974 and since 1974 he was Professor of Economics at Columbia University.[9] He also held the post of Repap Professor of Economics at McGill University.[10][11]

Career

Since 1974 he has been a professor in the Economics department at Columbia University; since 2001 he has held Columbia’s highest academic rank – University Professor. After completing his post-doctoral fellowship at the University of Chicago in 1957, he began teaching economics at Stanford University, and then Paul H. Nitze School of Advanced International Studies at Johns Hopkins University during 1959–1961.[2] In 1961, he went on to staff the International Monetary Fund. Mundell returned to academics as professor of economics at the University of Chicago from 1966 to 1971, and then served as professor during summers at the Graduate Institute of International Studies in Geneva until 1975. In 1989, he was appointed to the post of Repap Professor of Economics at McGill University.,[10][11] In the 1970s, he laid the groundwork for the introduction of the euro through his pioneering work in monetary dynamics and optimum currency forms for which he won the 1999 Nobel Prize in Economics. During this time he continued to serve as an economic adviser to the United Nations, the IMF, the World Bank, the European Commission, the Federal Reserve Board, the United States Department of Treasury and the governments of Canada and other countries. He is currently the Distinguished Professor-at-Large of The Chinese University of Hong Kong.

Among his major contributions are:

Awards

Mundell was awarded the Guggenheim Fellowship in 1971 and the Nobel Memorial Prize in Economics in 1999. In 2002 he was made a Companion of the Order of Canada.

In 1992, Mundell received the Docteur Honoris Causa from the University of Paris. Mundell’s honorary professorships and fellowships were from Brookings Institution, the University of Chicago, the University of Southern California, McGill University, the University of Pennsylvania, the Bologna Center and Renmin University of China. He became a fellow of the American Academy of Arts and Sciences in 1998. In June 2005 he was awarded the Global Economics Prize World Economics Institute in Kiel, Germany and in September 2005 he was made a Cavaliere di Gran Croce del Reale Ordine del Merito sotto il Titolo di San Ludovico by Principe Don Carlo Ugo di Borbone Parma.

The Mundell International University of Entrepreneurship in the Zhongguancun district of Beijing, People’s Republic of China is named in his honor.

International monetary flows

Mundell is best known in politics for his support of tax cuts and supply-side economics; however, in economics it is for his work on currency areas[12] and international exchange rates[13] that he was awarded the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel by the Bank of Sweden (Sveriges Riksbank). Nevertheless, supply-side economics featured prominently in his Bank of Sweden prize speech.

In the 1960s, Canada, of which Mundell is a native, floated its exchange: this caused Mundell to begin investigating the results of floating exchange rates, a phenomenon not widely seen since the 1930s “Stockholm School” successfully lobbied Sweden to leave the gold standard.

In 1962, along with Marcus Fleming, he co-authored the Mundell–Fleming model of exchange rates, and noted that it was impossible to have domestic autonomy, fixed exchange rates, and free capital flows: no more than two of those objectives could be met. The model is, in effect, an extension of the IS/LM model applied to currency rates.

According to Mundell’s analysis:

  • Discipline under the Bretton Woods system was more due to the US Federal Reserve than to the discipline of gold.
  • Demand side fiscal policy would be ineffective in restraining central banks under a floating exchange rate system.
  • Single currency zones relied, therefore, on similar levels of price stability, where a single monetary policy would suffice for all.

His analysis led to his conclusion that it was a disagreement between Europe and the United States over the rate of inflation, partially to finance the Vietnam War, and that Bretton Woods disintegrated because of the undervaluing of gold and the consequent monetary discipline breakdown. There is a famous point/counterpoint over this issue between Mundell and Milton Friedman.[14]

This work later led to the creation of the euro and his prediction that leaving the Bretton Woods system would lead to “stagflation” so long as highly progressive income tax rates applied. In 1974, he advocated a drastic tax reduction and a flattening of income tax rates.

Mundell, though lionized by some conservatives, has many of his harshest critics from the right: he denies the need for a fixed gold based currency or currency board[citation needed] (he still often recommends this as a policy in hyperinflationary environments) and he is both a fiscal and balance of payments deficit hawk. He is well known for stating that in a floating exchange rate system, expansion of the money supply can come about only by a positive balance of payments.

In 2000, he predicted that before 2010, the euro zone would expand to cover 50 countries, while the dollar would spread throughout Latin America, and much of Asia would look towards the yen.[15] Such predictions have proved highly inaccurate.

Nobel Prize winner

Mundell won the Nobel Memorial Prize in Economic Science in 1999 and gave as his prize lecture a speech titled “A Reconsideration of the Twentieth Century”. According to the Nobel Prize Committee, he got the honor for “his analysis of monetary and fiscal policy under different exchange rate regimes and his analysis of optimum currency areas”.

Mundell concluded in that lecture that “the international monetary system depends only on the power configuration of the countries that make it up”. He divided the entire twentieth century into three parts by different periods of time:

  • The first third of the century, from its beginning to the Great Depression of the 1930s, economics was dominated by the confrontation of the Federal Reserve System with the gold standard.
  • The second third of the century was from World War II to 1973, when the international monetary system was dominated by fixing the price of gold with the US dollar.
  • The last third of the century started with the destruction of the old monetary system due to the problem of inflation.

With the destruction of the old monetary system, a new international monetary system was finally founded. Controlling inflation by each country became a main topic during this era.

Television appearances

Mundell has appeared on CBS‘s Late Show with David Letterman. His first appearance was on October 17, 2002[16] where he gave The Top 10 List on “Ways My Life has Changed Since Winning the Nobel Prize.” In March 2004[17] he told “You might be a redneck” jokes followed in May 2004[18] with “Yo Mama” jokes. In September 2004[19] he appeared again, this time to read excerpts from Paris Hilton‘s memoir at random moments throughout the show. In November 2005[20] he told a series of Rodney Dangerfield‘s jokes. On February 7, 2006[21] he read Grammy Award nominated song lyrics, the night before CBS aired the 48th Grammy Awards.

Mundell also appeared on Bloomberg Television many times.

Mundell has also appeared on China Central Television‘s popular Lecture Room series. Professor Mundell was also a special guest making the ceremonial first move in Game Five of the 2010 World Chess Championship between Viswanathan Anand and Veselin Topalov.

Mundell started the Pearl Spring Chess Tournament, a double round robin tournament with six players. The first tournament in 2008 was won by the Bulgarian, Veselin Topalov. The next two: 2009–2010 was won by the Norwegian, Magnus Carlsen.

See also

References

  1. Jump up^ http://www.nobelprize.org/nobel_prizes/economic-sciences/laureates/1999/mundell-bio.html
  2. ^ Jump up to:a b Nobel Prize Winners from Johns Hopkins University
  3. Jump up^ Essays in the theory of international capital movementspage 3. Retrieved September 12, 2016.
  4. Jump up^ RUDI DORNBUSCH by Stanley Fischer – Project Syndicate
  5. Jump up^ Warsh, David (November 1, 2009). “What The Woman Lived”. Economic Principals. Retrieved October 17, 2016.
  6. Jump up^ “Mr. Mundell, known as the father of the euro”[dead link]
  7. Jump up^ “Robert Mundell – Nobel Prize Winners – Key facts – About LSE – Home”. .lse.ac.uk. March 13, 2009. Retrieved January 1, 2012.
  8. Jump up^ [1]
  9. Jump up^ http://www.polyu.edu.hk/iao/nobel2009/mundell_bio.pdf
  10. ^ Jump up to:a b “Robert A. Mundell – Biography”. Nobelprize.org. Retrieved January 1, 2012.
  11. ^ Jump up to:a b “Biography | The Works of Robert Mundell”. Robertmundell.net. Retrieved January 1, 2012.
  12. Jump up^ A Theory of Optimum Currency Areas; The American Economic Review, Vol. 51, No. 4, pp. 657–665, 1961
  13. Jump up^ Capital Mobility, and Stabilization Policy under Fixed and Flexible Exchange Rates; Revue Canadienne d’Economique et de Science Politique, Vol. 29, No. 4, pp. 475–485, 1963
  14. Jump up^ “Mundell-Friedman debate” (PDF). Retrieved January 1, 2012.
  15. Jump up^ Mark Milner and Charlotte Denny (January 14, 2000). “The new endangered species | Business”. London: The Guardian. Retrieved January 1, 2012.
  16. Jump up^ show #1891 Archived August 15, 2006, at the Wayback Machine.
  17. Jump up^ show #2144 Archived October 17, 2006, at the Wayback Machine.
  18. Jump up^ show #2162 Archived May 16, 2006, at the Wayback Machine.
  19. Jump up^ show # 2238 Archived February 23, 2006, at the Wayback Machine.
  20. Jump up^ show #2466 Archived December 15, 2005, at the Wayback Machine.
  21. Jump up^ show #2505 Archived May 16, 2006, at the Wayback Machine.

External links

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Repeal and Replace Obamacare As Soon As Possible With Free Enterprise Health Insurance Plans and Health Saving Accounts — Let Consumer Sovereignty Reign — Balance The Budget In Four Years Or You Are Fired! — Videos

Posted on January 7, 2017. Filed under: American History, Articles, Banking, Blogroll, College, Communications, Congress, Constitution, Corruption, Economics, Education, Employment, Faith, Family, Federal Government, Federal Government Budget, Fiscal Policy, Freedom, government, government spending, Health Care, history, Illegal, Immigration, Language, Law, Legal, liberty, Life, Links, Macroeconomics, media, Microeconomics, Monetary Policy, Money, Money, Obamacare, People, Philosophy, Programming, Rants, Raves, Raymond Thomas Pronk, Regulations, Resources, Security, Taxation, Taxes | Tags: , , , , , , |

Rand Paul: Simultaneous Repeal And Replace Of Obamacare | Morning Joe | MSNBC

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I write about healthcare from the President’s hometown

The mounting U.S. debt and rising deficits that will continue under a proposed Republican budget blueprint may trigger critical votes in Congress to hold off on repealing the Affordable Care Act.

Such a scenario emerged this week when U.S. Sen. Rand Paul, a Kentucky Republican, said he wouldn’t vote for a budget that increased the federal debt even if it included a repeal of the ACA. Paul is a critical vote among the GOP’s 52-member caucus in the Senate, which needs 51 votes to pass a budget that would conceivably include a repeal of the ACA. Democrats are unified in their opposition to a repeal.

A budget resolution the Senate approved this week without Paul’s support is a blueprint that would lead to another nearly $9 trillion to the federal debt, which already stands at about $20 trillion.

“I won’t vote for a terrible budget just to repeal Obamacare,” GOP Sen. Paul told MSNBC’s Morning Joe program on Wednesday. “If I have to weigh the two problems, I actually think the debt is a more important problem than Obamacare.”

“Everybody’s hot and heavy to vote on this budget because they want to repeal Obamacare, but the budget Republicans are going to introduce will add $8.8 trillion to the debt over the next 10 years,” Paul added.

Getting rid of Obamacare will add more to the debt and deficits. A new report from the bipartisan Committee for a Responsible Federal Budget says that “repealing the ACA in its entirety would cost roughly $350 billion through 2027.”

While many of Obamacare’s problems are focused on rising premiums from private individual coverage offered on exchanges, the law also includes myriad reforms that have slowed the growth of spending, particularly in the Medicare health insurance program for seniors.

The ACA’s Medicare reforms have shifted away from fee-for-service medicine that pays doctors and hospitals no matter how patient care turns out to value-based models that reimburse providers based on outcomes and quality measures. Insurers in the Medicare program like Aetna AET -0.20%, UnitedHealth Group UNH +0.14%, Humana HUM +0.50% and others are rated via a star system created by the ACA that many believe has spurred more competition.

Though Republican Senators this week voted to proceed with the budget blueprint, some of them have said they don’t want to proceed with an Obamacare repeal without having a replacement that would continue to cover more than 20 million Americans who have gained benefits since the law was enacted in 2010.

Republicans have yet to provide legislation that would replace the ACA with some calling for a delay of up to four years before they would offer up an idea.

“If you are repealing, show us what you’ll replace it with, then we’ll look at what you have and see what you can do,” Sen. Chuck Schumer, the New York Democrat who leads his party in Congress’ upper chamber, told the New York Times.

Any ACA repeal will now head to committees in the U.S. Senate and House of Representatives.

The committee for a Responsible Federal Budget’s analysis seemed to urge caution to Congress on how they carry out any Obamacare replacement.

“Repealing the entire ACA would leave no funds available for ‘replace’ legislation, and in fact would require further deficit reduction to avoid adding to the debt,” the committee said.

http://www.forbes.com/sites/brucejapsen/2017/01/05/how-the-soaring-u-s-debt-may-save-obamacare/2/#316f503f5258

Rand Paul Defects on Proposed Health Law Repeal

Republican senator says measure to begin process of repealing Affordable Care Act adds too much to federal budget deficit

Sen. Rand Paul, shown at an event on Oct. 27, says the Republicans’ measure to begin repealing the Affordable Care Act would add $9.7 trillion in debt over 10 years to the federal budget.

Sen. Rand Paul, shown at an event on Oct. 27, says the Republicans’ measure to begin repealing the Affordable Care Act would add $9.7 trillion in debt over 10 years to the federal budget. PHOTO: TIMOTHY D. EASLEY/ASSOCIATED PRESS

WASHINGTON—Sen. Rand Paul (R., Ky.) said Wednesday that he would oppose the budget measure Republicans are counting on to begin the process of repealing the Affordable Care Act, leaving the effort in danger of derailing if any other GOP senators defect.

The Senate on Wednesday took its first procedural vote on the budget measure, a vehicle that Republicans can use to repeal the 2010 health-care law with a simple majority vote. Republicans now hold only 52 seats in the Senate, where most legislation needs 60 votes to pass.

Mr. Paul said Wednesday he would vote against the budget measure because it adds too much to the federal budget deficit for fiscal year 2017.

Following Democratic and Republican party meetings on Capitol Hill, Vice President-Elect Mike Pence said repealing Obamacare is President-elect Donald Trump’s ‘first order of business,’ but Democratic Senate Minority Leader Chuck Schumer warned that rolling back the law would ‘make America sick again.’ Photo: AP

“I’m a no,” he said in a brief interview. “It adds $9.7 trillion in debt over 10 years.”

Other Senate Republicans, including Susan Collins of Maine and Lamar Alexander and Bob Corker of Tennessee, have voiced concerns about repealing the health-care law before the GOP has settled on a plan to replace it. However, all three voted to advance the budget in an early procedural vote Wednesday, which passed 51-48, allowing the Senate to consider the measure.

Mr. Paul was the only Republican to join the entire Democratic caucus in voting not to move forward with the budget blueprint. Sen. Dianne Feinstein (D., Calif.) didn’t vote.

Other senators could still raise objections ahead of the final vote—on either the plan to repeal the health-care law or on the budget itself.

Aware of the razor-thin margins, GOP Sens. Ted Cruz of Texas, Mike Lee of Utah and Marco Rubio of Florida wrote Tuesday in a joint letter to GOP Senate leaders that while they understood the budget was “primarily a mechanism to advance [the health law’s] repeal,” the Senate should still abstain from any budget devices that they oppose.

“Our votes in favor of the ‘Obamacare Repeal Resolution’ do not indicate in any way our support for the revenue, spending, and deficit numbers therein, nor for the use of those numbers as the basis for future federal budgets,” the three senators wrote, using the GOP nickname for the budget blueprint.

The next fiscal year’s budget, expected to pass this spring and help Republicans overhaul the tax code, must balance the federal budget in 10 years, they wrote.

Budget blueprints are nonbinding documents used by political parties to signal how they think federal dollars should be spent. The budget document introduced in the Senate Tuesday also starts the process of repealing the health-care law.

The Senate’s budget resolution directs four relevant committees, two in the Senate and two in the House, to write legislation by Jan. 27 that reconciles spending and tax policy with the budget blueprint for the coming fiscal year. Embedded in the committees’ legislation will be provisions that repeal much of the health law.

Democrats, who have paid a heavy political price for the health law’s unpopularity, said Republicans will now bear responsibility for any attempts to gut and replace it.

“Now, they’re gonna own it, and all the problems in the health-care system are going to be on their backs,” Senate Minority Leader Chuck Schumer (D., N.Y.) said Wednesday.

http://www.wsj.com/articles/rand-paul-endangers-health-law-repeal-1483557210

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People vs. “Elites”: Nationalist Capitalism Winning — Global Socialism Losing — Videos

Posted on December 29, 2016. Filed under: American History, Articles, Banking, Blogroll, British History, Business, College, Communications, Constitution, Corruption, Crime, Crisis, Documentary, Economics, Education, Elections, Employment, European History, Faith, Family, Federal Government Budget, Fiscal Policy, Foreign Policy, Fraud, Freedom, Friends, Genocide, government, history, History of Economic Thought, Illegal, Immigration, Law, Legal, liberty, Life, Links, Macroeconomics, media, Microeconomics, Middle East, Monetary Policy, Money, Money, People, Philosophy, Politics, Radio, Rants, Raves, Raymond Thomas Pronk, Religious, Speech, Tax Policy, Trade Policiy, Video, War, Wealth, Wisdom, Writing | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , |

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Dawn of the New World Order: 2017 will be the year EVERYTHING changes

A NEW World Order is set to emerge next year as huge political changes sweep across Europe including the rise of the mega-alliance under Vladimir Putin and Donald Trump.

Europe Right Wing Politics Brexit Donald Trump Vladimir Putin New World Order Polls EUGETTY/DSNEW WORLD ORDER: Vladimir Putin and Donald Trump will trigger a revolution across Europe
Putin’s growing power and Trump’s extraordinary US Election victory are both herald’s of a growing movement against the established world governments.Anti-establishment parties raging against the political class could sweep to victory in a swathes of elections next year and change the face of the West.

From Germany, to France, to the Netherlands – fringe and extremist parties are gaining momentum hand over fist and looked primed to seize power.

Notable victories have already been won – with a shocking referendum win in Italy causing Prime Minister Matteo Renzi to resign in a move said to pave the way for the collapse of the EU.

Europe Right Wing Politics Brexit Donald Trump Vladimir Putin New World Order Polls EUDSEND OF THE EU: Anti-establishment parties are set to sweep to power in Europe

“The new axis between Trump’s America, Putin’s Russia, and European populists represents a toxic mix”

Fredrik Wesslau

Fredrik Wesslau, from the European Council of Foreign Relations, predicted the “unthinkable is now thinkable” after Trump was swept into the White House.

He said the political parties are trying to unseat the “liberal order” in a campaign backed by Putin and Trump.

Politicians look to overthrow the established order are hailing Trump’s election victory as the beginning of the “Patriotic Spring”.

There are six key elections coming up in 2017 which could very easily be won by right-wing parties with nationalist policies which would spell the end of the EU.

Europe Right Wing Politics Brexit Donald Trump Vladimir Putin New World Order Polls EUGETTYGOLDEN DAWN: The Neo-nazi movement in Greece is the most extreme example
Marine Le Pen, leader of France’s National Front, could be poised to take power after the election in May in a move which could pull France out of the EU.
She has described the coming year as a “global revolution” after the election of Trump and the victory of Brexit.Mrs Le Pen has promised to pull france out of NATO and “push migrants who want to come to Europe back into international waters”.The alliance is feared to be a further casualty of the looming political shift – with NATO bosses “preparing for the worst” as they fear Putin will invade Eastern Europe and Trump will pull all US support.
Europe Right Wing Politics Brexit Donald Trump Vladimir Putin New World Order Polls EUGETTYMARINE LE PEN: France’s National Front leader could seize power next year
Europe Right Wing Politics Brexit Donald Trump Vladimir Putin New World Order Polls EUGEERT WILDERS: The Netherlands’ Party for Freedom leader has compared the Koran to Mein Kampf
Meanwhile, anti-Islam and anti-migrant leader of the Party of Freedom Geert Wilders ended 2016 leading the polls in the Netherlands – contesting the general election in March.He tweeted a picture of Angela Merkel with blood on her hands following the Berlin Christmas market attack – and shared the message “they hate and kill us. An nobody protects us”.He has also compared the Koran to Adolf Hitler’s book Mein Kampf – campaigning to have the Muslim holy book banned – and coined the phrase “patriotic spring”.
Europe Right Wing Politics Brexit Donald Trump Vladimir Putin New World Order Polls EUFRAUKE PETRY: Angela Merkel faces losing Chancellor’s seat next year after major unrest
Frauke Petry is also contesting the German federal election next year as the aftermath of the Berlin attack rocks the government of Angelea Merkel.While she does not have a seat in the Bundestag – the German parliament – approval of her Alternative for Germany party has been swelling in wake of backlash against refugees following terrorist attacks.In her first election manifesto she declared “Islam is not part of Germany” and has previously called on border guard to use “firearms if necessary” when dealing with refugees. 
Europe Right Wing Politics Brexit Donald Trump Vladimir Putin New World Order Polls EUGETTYGERMANY: Unrest is sweeping across the European nation after terror attacks
Europe Right Wing Politics Brexit Donald Trump Vladimir Putin New World Order Polls EUGETTYBEPE GRILLO: This comedian turned politician has already struck a blow to the EU
Leader of Italy’s Five Star Movement TV comedian Beppe Grillo has already caused a stir as the the Italian government lost a key referendum.Savagedly anti-EU, he has said “political amateurs are conquering the world”, called Trump’s victory an “extraordinary turning point” and his party won two key mayoral seats in Turin and Rome.He has been called the “Italian Donald Trump” and his party could be a key player with elections expected to be held in 2017.
Europe Right Wing Politics Brexit Donald Trump Vladimir Putin New World Order Polls EUGETTYJIMMIE AKESSON: Sweden Democrats’ outspoken leader led a campaign against migrants
The Czech Republic is also set to hold elections in 2017 while Sweden goes to the polls in 2018, both with own Trump-esque leaders who could make a shocking grab for power.Andrej Babis, the second richest man in the Czech Republic, is expected to win the general election for the ANO party and has been reported to have close ties to Putin’s Russia.While in Sweden, anti-immigration Jimmie Akesson of the Sweden Democrats is gaining in popularity – campaigning against his nation’s membership of the EU and advocating a campaign to tell people not to come to Sweden.
With Europe’s biggest economies set to go to the polls, struggling Greece could also follow suit.The extreme right fringes of their politics is dominated by the neo-nazi party Golden Dawn – who have launched attacks on refugee camps.While it is very unlikely they have any chance at power, their nationalist cause is of the most intense and hate-filed in Europe.Centre-right party New Democracy is the most likely to unseat the government should a snap election be called.
The former EU diplomat Wesslau said: “The new axis between Trump’s America, Putin’s Russia, and European populists represents a toxic mix for the liberal order in Europe.”He added: “Within Europe, populists on the left and right are trying to roll back the liberal order.”This insurgency is being actively backed by Putin’s Russia, and, now, it seems, Trump’s America.”The European Union itself risks being an early casualty.”

The Globalists Have Declared War on Nationalists

 

Trump’s populist views of self-determination are sweeping the planet and the elite are in a sheer panic. Only a few weeks ago, the sheep of the planet were being marched to their Armageddon. The dumbed down masses have managed to mount a ninth inning rally that have sent the elite into frenzy.

 

Hillary Clinton Was Supposed to Usher in the New World Order Through the Fall of America

The lies are exposed. Hillary and Bill cannot unring the bill, the truth has been exposed for millions of people to see.

The lies are exposed. Hillary and Bill cannot unring the bill, the truth has been exposed for millions of people to see.

Two months ago, I called upon the Independent Media to step up their attacks on Hillary Clinton’s criminal behavior in a last-ditch and desperate effort to derail her presidential aspirations. After issuing my plea, I can happily report that I got more than I had hoped for. Merely a year ago, I was one of the few voices that was pounding away at Hillary Clinton’s sociopathic behavior. Today, the attacks are so bombastic and vitriolic, that I am joyfully reporting that I feel that my voice is being drowned out by a relentless chorus of voices that has Hillary Clinton in a death grip and they won’t let go. This is a great time for humanity. Even if the criminal elite unleash genocidal hell on Earth, at least humanity will die on their feet. There is absolutely no way that the criminal elite can stem the tide of rebellion against their corrupt and satanically inspired rule over the people.

The criminal elite had pinned their hopes on Hillary Clinton ushering in the NWO by tearing down what was left of American sovereignty. From a Bilderberg, Trilateral and CFR perspective, this woman was sociopathic enough to do what would need to be done to complete this task. However, the criminal elite forgot to do one thing. They neglected to manage her public image. It is leaders like Clinton and Cameron which have awakened the masses, through their abject criminality, and the people are saying enough is enough.

Clinton’s role in the emails, her treason by selling uranium to the Russians to raise money for her foundation, the Benghazi affair, etc., etc, are exploding on the national scene. Former Clinton campaign leaders and Secret Service personnel are speaking out against this despot. The genie will not fit back into the bottle. The elite know this and they are on the verge of a mass nervous breakdown. The playground bully has just been punched in the nose by the 98 pound weakling.

Zbigniew Brzezinski saw this awakening coming in 2011 which prompted him to say the following:

brzezinski kill a million

This is what wounded animals do, they lash out in an uncontrollable manner.

The following op-ed piece written for the Council on Foreign Relations captures the criminal elite’s sense of desperation.

The Face of Global Elite Arrogance

face of pomposity

Meet the face of global pomposity and unbridled arrogance. His disdain for “your type” is noteworthy and speaks to the desperation of global criminal elite.

His name is James Traub and he and his kind are the absolute enemy of every American. He is the heir to the Bloomingdale industries and a prominent member of the Council on Foreign Relations (CFR).

Traub’s elitist views leave nothing to the imagination. Writing for the mouthpiece of The Council on Foreign Relations, he leaves little doubt that the the evil empire is going to strike back.

It is clear that Traub and his fellow CFR elitist snobs are declaring war on any kind self-determination. He expects every Westerner to relish in their servitude to the globalists as he states the following in the article:

  • “the Brexit vote…utter repudiation of….bankers and economists”…
  • “…establishment political parties in major western countries must combine forces to keep out the nationalists”.
  • “…globalization means culture as well as economics: Older people whose familiar world is vanishing beneath a welter of foreign tongues and multicultural celebrations are waving their fists at cosmopolitan elites.”
  • “…(describes) the pro-Trump Republican base as “know nothing” voters…”

In one fell swoop, Traub validated several conspiracy theories, as being conspiracy facts as his statements admit to the following conspiratorial beliefs held by much of the Independent Media:

  • The bankers are involved in a conspiracy that work against the interests of the common man…all wars are bankers’ wars. 
  • The Democrats and the Republicans are “establishment” parties and for all intents and purposes these two parties are two flavors of the same party. 
  • There is an overt admission that illegal immigration is about decultralizing the west. 
  • The “Know-nothing voters” who support Trump should be viewed with extreme disdain (e.g. extremists and domestic terrorists). 

Conclusion

After reading Traub’s article, there is nothing left to the imagination, the elite are in absolute panic. This is what makes the criminal elite so very dangerous. It is my considered opinion that the panicked elite may resort to one of more of the following to reassert control over dumbed down masses, who are awake to the corruption that has ruled over them for so long:

  1. False flag induced martial law, followed by mass incarcerations and genocide.

  2. A complete economic collapse which will pit one useless eater vs. another useless eater. 

  3. Bankers start world wars of epic proportions. World War III could be right around the corner. 

If this is not the future that you want for your children, you best get off of your backside and get involved in the planet-changing conflict.

http://www.thecommonsenseshow.com/2016/06/29/the-globalists-have-declared-war-on-nationalists/

Getty Images
Appeared in: Volume 12, Number 1
Published on: July 10, 2016
NATIONALISM RISING

When and Why Nationalism Beats Globalism

And how moral psychology can help explain and reduce tensions between the two.

Jonathan Haidt is a social psychologist and professor in the Business and Society Program at New York University—Stern School of Business. He is the author of The Righteous Mind: Why Good People are Divided by Politics and Religion.
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Saul Alinsky — Rules for Radicals — Videos

Posted on October 16, 2016. Filed under: American History, Articles, Banking, Blogroll, Books, Business, College, Communications, Congress, Constitution, Corruption, Documentary, Economics, Education, Elections, Employment, Faith, Family, Federal Government Budget, Fiscal Policy, Freedom, Friends, government spending, history, Illegal, Immigration, Inflation, Law, Legal, liberty, Life, Links, Macroeconomics, media, Microeconomics, Monetary Policy, Money, Non-Fiction, People, Philosophy, Police, Political Correctness, Politics, Speech, Talk Radio, Tax Policy, Taxation, Taxes, Unemployment, Video, War, Wealth, Welfare, Wisdom, Work, Writing | Tags: , , , |

 

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“I’d Organize Hell” – Saul Alinsky TV interview 1966

William F Buckley Jr & Saul Alinsky – Mobilizing The Poor

Rules for Radicals: What Constitutional Conservatives Should Know About Saul Alinsky

Alinsky for Dummies (Mr. Joseph A. Morris – Acton Institute)

Alinsky’s Power Tactics (Rules for Radicals Excerpt)

Saul Alinsky and the IAF

Rules for Radicals: An Analysis

Barack Obama/Saul Alinsky Connection

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Rules for Radicals

From Wikipedia, the free encyclopedia
Rules for Radicals
Rules for Radicals.png
Author Saul Alinsky
Country U.S.A.
Language English
Subject Grassroots, community organizing
Publisher Random House
Publication date
1971
Pages 196 pp
ISBN 0-394-44341-1
OCLC 140535
301.5
LC Class HN65 .A675

Rules for Radicals: A Pragmatic Primer for Realistic Radicals is the last book published in 1971 by activist and writer Saul D. Alinsky shortly before his death. His goal for theRules for Radicals was to create a guide for future community organizers to use in uniting low-income communities, or “Have-Nots”, in order for them to gain social, political, legal andeconomic power.[1] Within it, Alinsky compiled the lessons he had learned throughout his experiences of community organizing from 1939–1971 and targeted these lessons at the current, new generation of radicals.[2]

Divided into ten chapters, Rules for Radicals provides 10 lessons on how a community organizer can accomplish the goal of successfully uniting people into an active organization with the power to effect change on a variety of issues. Though targeted at community organization, these chapters also touch on other issues that range from ethics, education,communication, and symbol construction to nonviolence and political philosophy.[3]

Though published for the new generation of counterculture-era organizers in 1971, Alinsky’s principles have been successfully applied by numerous government, labor, community, and congregation-based organizations, and the main themes of his organizational methods that were elucidated upon in Rules for Radicals have been recurring elements in political campaigns in recent years.

Inspiration for Rules for Radicals

The inspiration for Rules for Radicals was drawn from Alinsky’s personal experience as a community organizer.[1] It was also taken from the lessons he learned from his University of Chicago professor, Robert Park, who saw communities as “reflections of the larger processes of an urban society”.[3] The methods Alinsky developed and practiced were described in his book as a guide on future community organizing for the new generation of radicals emerging from the 1960s.[3][4]

Alinsky believed in collective action as a result of the work he did with the C.I.O and the Institute for Juvenile Research in Chicago where he first began to develop his own, distinct method of community organizing. Additionally, his late work with the Citizens Action Program (CAP) provided some of his most whole and conclusive practices in organizing through the empowerment of the poor, though not well-known. Alinsky saw community structure and the impoverished and the importance of their empowerment as elements of community activism and used both as tools to create powerful, active organizations.[5] He also used shared social problems as external antagonists to “heighten local awareness of similarities among residents and their shared differences with outsiders”.[3] Ironically, this was one of Alinsky’s most powerful tools in community organizing; to bring a collective together, he would bring to light an issue that would stir up conflict with some agency to unite the group. This provided an organization with a specific “villain” to confront and made direct action easier to implement. These tactics as a result of decades of organizing efforts, along with many other lessons, were poured into Rules for Radicals to create the guidebook for community organization.[2]

Themes

Rules for Radicals has various themes. Among them is his use of symbol construction to strengthen the unity within an organization.[3] He would draw on loyalty to a particular church or religious affiliation to create a structured organization with which to operate. The reason being that symbols by which communities could identify themselves created structured organizations that were easier to mobilize in implementing direct action. Once the community was united behind a common symbol, Alinsky would find a common enemy for the community to be united against.

The use of common enemy against a community was another theme of Rules for Radicals, with nonviolent conflict as a uniting element in communities.[6]

Alinsky would find an external antagonist to turn into a “common enemy” for the community within which he was operating. Often, this would be a local politician or agency that had some involvement with activity concerning the community. Once the enemy was established, the community would come together in opposition of it. This management of conflict heightened awareness within the community as to the similarities its members shared as well as what differentiated them from those outside of their organization.[3] The use of conflict also allowed for the goal of the group to be clearly defined. With an established external antagonist, the community’s goal would be to defeat that enemy.[3]

Symbol construction helped to promote structured organization, which allowed for nonviolent conflict through another element in Alinsky’s teaching, direct action. Direct action created conflict situations that further established the unity of the community and promoted the accomplishment of achieving the community’s goal of defeating their common enemy.[2] It also brought issues the community was battling to the public eye. Alinsky encouraged over-the-top public demonstrations throughout Rules for Radicals that could not be ignored, and these tactics enabled his organization to progress their goals faster than through normal bureaucratic processes.[3]

Lastly, the main theme throughout Rules for Radicals and Alinsky’s work was empowerment of the poor.[5] Alinsky used symbol construction and nonviolent conflict to create a structured organization with a clearly defined goal that could take direct action against a common enemy. At this point, Alinsky would withdraw from the organization to allow their progress to be powered by the community itself.[3] This empowered the organizations to create change.[2]

The rules[1]
  1. “Power is not only what you have, but what the enemy thinks you have.” Power is derived from 2 main sources – money and people. “Have-Nots” must build power from flesh and blood.
  2. “Never go outside the expertise of your people.” It results in confusion, fear and retreat. Feeling secure adds to the backbone of anyone.
  3. “Whenever possible, go outside the expertise of the enemy.” Look for ways to increase insecurity, anxiety and uncertainty.
  4. “Make the enemy live up to its own book of rules.” If the rule is that every letter gets a reply, send 30,000 letters. You can kill them with this because no one can possibly obey all of their own rules.
  5. “Ridicule is man’s most potent weapon.” There is no defense. It’s irrational. It’s infuriating. It also works as a key pressure point to force the enemy into concessions.
  6. “A good tactic is one your people enjoy.” They’ll keep doing it without urging and come back to do more. They’re doing their thing, and will even suggest better ones.
  7. “A tactic that drags on too long becomes a drag.” Don’t become old news.
  8. “Keep the pressure on. Never let up.” Keep trying new things to keep the opposition off balance. As the opposition masters one approach, hit them from the flank with something new.
  9. “The threat is usually more terrifying than the thing itself.” Imagination and ego can dream up many more consequences than any activist.
  10. “The major premise for tactics is the development of operations that will maintain a constant pressure upon the opposition.” It is this unceasing pressure that results in the reactions from the opposition that are essential for the success of the campaign.
  11. “If you push a negative hard enough, it will push through and become a positive.” Violence from the other side can win the public to your side because the public sympathizes with the underdog.
  12. “The price of a successful attack is a constructive alternative.” Never let the enemy score points because you’re caught without a solution to the problem.
  13. “Pick the target, freeze it, personalize it, and polarize it.” Cut off the support network and isolate the target from sympathy. Go after people and not institutions; people hurt faster than institutions.

Criticisms

Alinsky received criticism for the methods and ideas he presented. Robert Pruger and Harry Specht noted that much of his instruction has only been effective in urban, low-income areas.[7] Pruger and Specht also criticized his broad statement that Rules for Radicals is a tool for organizing all low-income people. Further, Alinsky’s use of artificially stimulated conflict has been criticized for its ineffectiveness in areas that thrive on unity.[7] According to Judith Ann Trolander, in several Chicago areas in which he worked, his use of conflict backfired and the community was unable to achieve the policy adjustments they were seeking.[2]

Much of the philosophy of community organization found in Rules for Radicals has also come under question as being overly ideological. Alinsky believed in allowing the community to determine its exact goal. He would produce an enemy for them to conflict with, but the purpose of the conflict was ultimately left up to the community. This idea has been criticized due to the conflicting opinions that can often be present within a group.[7] Alinsky’s belief that an organization can create a goal to accomplish is viewed as highly optimistic and contradictory to his creation of an external antagonist. By producing a common enemy, Alinsky is creating a goal for the community, the defeat of that enemy. To say that the community will create their own goal seems backwards considering Alinsky creates the goal of defeating the enemy. Thus, his belief can be seen as too ideological and contradictory because the organization may turn the goal of defeating the common enemy he produced into their main purpose.[7]

Legacy

The scope of influence for Rules for Radicals is a far-reaching one as it is a compilation of the tactics of Alinsky. It has been influential for policymaking and organization for various communities and agency groups, and has influenced politicians and activists educated by Alinsky and the IAF, and other grassroots movements.

Direct impact

After Alinsky died in California in 1972, his influence helped spawn other organizations and policy changes. Rules for Radicals was a direct influence that helped to form the United Neighborhood Organization in the early 1980s.[3] Its founders Greg Galluzzo, Mary Gonzales, and Pater Martinez were all students of Alinsky.[3] The work of UNO helped to improve the hygiene, sanitation, and education in southeastern Chicago.[3] Additionally, the founders of Organization of the North East in Chicago during the 1970s applied Alinsky’s principles to organize multiethnic neighborhoods in order to gain greater political representation.[3]

Rules for Radicals have been dispersed by Alinsky’s students who undertook their own community organizing endeavors. Students of Alinsky’s such as Edward T. Chambers used Rules for Radicals to help form the Industrial Areas Foundation, the Queens Citizens Organization, and the Communities Organized for Public Service. Another student of Alinsky’s, Ernest Cortez, rose to prominence in the late 1970s in San Antonio while organizingHispanic neighborhoods. His use of congregation-based organizing received much acclaim as a popular method of Alinsky’s by utilizing “preexisting solidary neighborhood elements, especially church groups, so that the constituent units are organizations, not individuals.”[5] This congregation-based organizing and symbol construction was taught to him by Edward Chambers and the IAF during his time studying under both.

The methods and teachings of Rules for Radicals have also been linked to the Mid-America Institute, the National People’s Action, the National Training and Information Center, the Pacific Institute for Community Organizations, and the Community Service Organization.[5]

Later influence

The methods from Rules for Radicals have been seen in modern American politics. The use of congregation-based organizing has been linked to Jesse Jackson when he was organizing his own political campaign.[8] The book was praised and used as an organizational guide by the Tea Party conservative group FreedomWorks during Dick Armey‘s tenure as chairman.[9][10]

Publication data

References

  1. ^ Jump up to:a b c Rules for Radicals, by Saul Alinsky
  2. ^ Jump up to:a b c d e Trolander, Judith Ann (1982). “Social Change: Settlement Houses and Saul Alinsky, 1939–1965”. Social Service Review. University of Chicago Press. 56 (3): 346–65. ISSN 1537-5404. JSTOR 30011558 – viaJSTOR. (registration required (help)).
  3. ^ Jump up to:a b c d e f g h i j k l m Reitzes, Donald C.; Reitzes, Dietrich C. (1987). “Alinsky in the 1980s: Two Contemporary Chicago Community Organizations”. The Sociological Quarterly. Midwest Sociological Society.28 (2): 265–83. doi:10.1111/j.1533-8525.1987.tb00294.x. ISSN 1533-8525. JSTOR 4121434 – via JSTOR. (registration required (help)).
  4. Jump up^ “Playboy Interview: Saul Alinsky”. Playboy Magazine. March 1972.
  5. ^ Jump up to:a b c d McCarthy, John D. (1989). “The Alinsky Legacy: Alive and Kicking.by Donald C. Reitzes, Dietrich C. Reitzes”. Contemporary Sociology.American Sociological Association. 18 (1): 46–7. ISSN 1939-8638.JSTOR 2071926 – via JSTOR. (registration required (help)).
  6. Jump up^ Marshall, Dale Rogers (1976). “Rules for Radicals: A Pragmatic Primer for Realistic Radicals by Saul D. Alinsky; How People Get Power: Organizing Oppressed Communities for Action by Si Kahn; Action for a Change: A Student’s Manual for Public Interest Organizing by Ralph Nader, Donald Ross; Winning Elections: A Handbook in Participatory Politics by Dick Simpson; Political Action: A Practical Guide to Movement Politics by Michael Walzer”. The American Political Science Review. American Political Science Association. 70 (2): 620–3. doi:10.2307/1959680. ISSN 1537-5943.JSTOR 1959680 – via JSTOR. (registration required (help)).
  7. ^ Jump up to:a b c d Pruger, Robert; Harry Specht (June 1969). “Assessing Theoretical Models of Community Organization Practice: Alinsky as a Case in Point”.Social Service Review. 43 (2): 123. doi:10.1086/642363.JSTOR 30020552.
  8. Jump up^ Swarts, Heidi (2011). “Drawing New Symbolic Boundaries Over Old Social Boundaries: Forging Social Movement Unity in Congregation-Based Community Organizing”. Sociological Perspectives. Sage Publications. 54(3): 453–77. doi:10.1525/sop.2011.54.3.453. ISSN 1533-8673.JSTOR 10.1525/sop.2011.54.3.453 – via JSTOR. (registration required (help)).
  9. Jump up^ Knickerbocker, Brad (January 28, 2012). “Who is Saul Alinsky, and why is Newt Gingrich so obsessed with him?”. Christian Science Monitor. Retrieved July 22, 2016.
  10. Jump up^ Vogel, Kenneth P. (October 22, 2010). “Right loves to hate, imitate Alinsky”. Politico. Retrieved September 11, 2016.

Further reading

External links

https://en.wikipedia.org/wiki/Rules_for_Radicals

Saul Alinsky

From Wikipedia, the free encyclopedia
Saul Alinsky
Saul Alinsky.jpg
Born Saul David Alinsky
January 30, 1909
Chicago, Illinois, U.S.
Died June 12, 1972 (aged 63)
Carmel-by-the-Sea, California, U.S.
Cause of death Heart attack
Nationality American
Ethnicity Ashkenazi Jewish
Education University of Chicago, Ph.B.1930
U. of Chicago Graduate School, criminology, 1930–1932
Occupation Community organizer, writer,political activist
Known for Political activism, writing,community organization
Notable work Rules for Radicals (1971)
Spouse(s)
  • Helene Simon (m. 1932; d. ?)
  • Jean Graham (m. 1952;div. 1970)
  • Irene McInnis Alinsky (m. 1971)
Children Katherine and David (by Helene)
Awards Pacem in Terris Award, 1969
Notes

Saul David Alinsky (January 30, 1909 – June 12, 1972) was an American community organizer and writer. He is generally considered to be the founder of modern community organizing. He is often noted for his 1971 book Rules for Radicals.

In the course of nearly four decades of political organizing, Alinsky received much criticism, but also gained praise from many public figures. His organizing skills were focused on improving the living conditions of poor communities across America. In the 1950s, he began turning his attention to improving conditions in the African-American ghettos, beginning with Chicago’s and later traveling to other ghettos in California, Michigan, New York City, and a dozen other “trouble spots”.

His ideas were adapted in the 1960s by some U.S. college students and other young counterculture-era organizers, who used them as part of their strategies for organizing on campus and beyond.[5] Time magazine wrote in 1970 that “It is not too much to argue that American democracy is being altered by Alinsky’s ideas.”[6] Conservative author William F. Buckley Jr. said in 1966 that Alinsky was “very close to being an organizational genius”.[7]

Biography

Early life

Saul David Alinsky was born in 1909 in Chicago, Illinois, to Russian Jewish immigrant parents, the only surviving son of Benjamin Alinsky’s marriage to his second wife, Sarah Tannenbaum Alinsky.[8] Alinsky stated during an interview that his parents never became involved in the “new socialist movement.” He added that they were “strict Orthodox, their whole life revolved around work and synagogue … I remember as a kid being told how important it was to study.”[4] He attended Marshall High School in Chicago until his parents divorced and then went to live with his father who moved to California, graduating from Hollywood High School[9] in 1926.

Because of his strict Jewish upbringing, he was asked whether he ever encountered antisemitism while growing up in Chicago. He replied, “it was so pervasive you didn’t really even think about it; you just accepted it as a fact of life.”[4] He considered himself to be a devout Jew until the age of 12, after which time he began to fear that his parents would force him to become a rabbi.

I went through some pretty rapid withdrawal symptoms and kicked the habit … But I’ll tell you one thing about religious identity…Whenever anyone asks me my religion, I always say—and always will say—Jewish.[4]

At the same time, he was also an agnostic.[10][11][12]

University of Chicago

In 1930, Alinsky graduated with a Bachelor of Philosophy from the University of Chicago, where he majored in archaeology, a subject that fascinated him.[4] His plans to become a professional archaeologist were changed due to the ongoing economic Depression. He later stated, “Archaeologists were in about as much demand as horses and buggies. All the guys who funded the field trips were being scraped off Wall Street sidewalks.”[4]

Employment

After attending two years of graduate school at the University of Chicago, he accepted work for the state of Illinois as a criminologist. On a part-time basis, he also began working as an organizer with the Congress of Industrial Organizations (CIO). By 1939, he became less active in the labor movement and became more active in general community organizing, starting with the Back of the Yards and other poor areas on the South Side of Chicago. His early efforts to “turn scattered, voiceless discontent into a united protest” earned the admiration of Illinois governor Adlai Stevenson, who said Alinsky’s aims “most faithfully reflect our ideals of brotherhood, tolerance, charity and dignity of the individual.”[4]

As a result of his efforts and success at helping slum communities, Alinsky spent the next 10 years repeating his organization work across the nation, “from Kansas City and Detroit to the barrios of Southern California.” By 1950 he turned his attention to the black ghettos of Chicago. His actions aroused the ire of Mayor Richard J. Daley, who also acknowledged that “Alinsky loves Chicago the same as I do.”[4] He traveled to California at the request of the San Francisco Bay Area Presbyterian Churches to help organize the black ghetto in Oakland. Hearing of his plans, “the panic-stricken Oakland City Council promptly introduced a resolution banning him from the city.”[4]

Community organizing and politics

In the 1930s, Alinsky organized the Back of the Yards neighborhood in Chicago (made infamous by Upton Sinclair‘s 1906 novel, The Jungle, which described the horrific working conditions in the Union Stock Yards). He went on to found the Industrial Areas Foundation while organizing the Woodlawn neighborhood; IAF trained organizers and assisted in the founding of community organizations around the country.

In Rules for Radicals (his final work, published in 1971 one year before his death), Alinsky wrote at the end of his personal acknowledgements:

Lest we forget at least an over-the-shoulder acknowledgment to the very first radical: from all our legends, mythology, and history (and who is to know where mythology leaves off and history begins or which is which), the first radical known to man who rebelled against the establishment and did it so effectively that he at least won his own kingdom – Lucifer.[13]

In the book, he addressed the 1960s generation of radicals, outlining his views on organizing for mass power. In the opening paragraph Alinsky writes,

What follows is for those who want to change the world from what it is to what they believe it should be. The Prince was written by Machiavelli for the Haves on how to hold power. Rules for Radicals is written for the Have-Nots on how to take it away.[13]

Alinsky did not join political parties. When asked during an interview whether he ever considered becoming a Communist Party member, he replied:

Not at any time. I’ve never joined any organization—not even the ones I’ve organized myself. I prize my own independence too much. And philosophically, I could never accept any rigid dogma or ideology, whether it’s Christianity or Marxism. One of the most important things in life is what Judge Learned Hand described as ‘that ever-gnawing inner doubt as to whether you’re right.’ If you don’t have that, if you think you’ve got an inside track to absolute truth, you become doctrinaire, humorless and intellectually constipated. The greatest crimes in history have been perpetrated by such religious and political and racial fanatics, from the persecutions of the Inquisition on down to Communist purges and Nazi genocide.[4]

He did not have much respect for mainstream political leaders who tried to interfere with growing black–white unity during the difficult years of the Great Depression. In Alinsky’s view, new voices and new values were being heard in the U.S., and “people began citing John Donne‘s ‘No man is an island.'”[4] He observed that the hardship affecting all classes of the population was causing them to start “banding together to improve their lives,” and discovering how much in common they really had with their fellow man.[4]

Alinsky once explained that his reasons for organizing in black communities included:

Negroes were being lynched regularly in the South as the first stirrings of black opposition began to be felt, and many of the white civil rights organizers and labor agitators who had started to work with them were tarred and feathered, castrated—or killed. Most Southern politicians were members of the Ku Klux Klan and had no compunction about boasting of it.[4]

Alinsky’s tactics were often unorthodox. In Rules for Radicals he wrote,

[t]he job of the organizer is to maneuver and bait the establishment so that it will publicly attack him as a ‘dangerous enemy.’ [According to Alinsky], the hysterical instant reaction of the establishment [will] not only validate [the organizer’s] credentials of competency but also ensure automatic popular invitation.[14]

As an example, after organizing FIGHT (an acronym for Freedom, Independence [subsequently Integration], God, Honor, Today) in Rochester, New York,[15] Alinsky once threatened to stage a “fart in” to disrupt the sensibilities of the city’s establishment at a Rochester Philharmonic concert. FIGHT members were to consume large quantities of baked beans after which, according to author Nicholas von Hoffman, “FIGHT’s increasingly gaseous music-loving members would tie themselves to the concert hall where they would sit expelling gaseous vapors with such noisy velocity as to compete with the woodwinds.”[16] Satisfied with his threat yielding action, Alinsky later threatened a “piss in” at Chicago O’Hare Airport. Alinsky planned to arrange for large numbers of well-dressed African Americans to occupy the urinals and toilets at O’Hare for as long as it took to bring the city to the bargaining table. According to Alinsky, once again the threat alone was sufficient to produce results.[16] In Rules for Radicals, he notes that this tactic fell under two of his rules: Rule #3: Wherever possible, go outside the experience of the enemy; and Rule #4: Ridicule is man’s most potent weapon.

Alinsky described his plans for 1972 to begin to organize the white middle class across the United States, and the necessity of that project. He believed that many Americans were living in frustration and despair, worried about their future, and ripe for a turn to radical social change, to become politically active citizens. He feared the middle class could be driven to a right-wing viewpoint, “making them ripe for the plucking by some guy on horseback promising a return to the vanished verities of yesterday.”[4] His stated motive: “I love this goddamn country, and we’re going to take it back.”[4]

Death

Alinsky died at the age of 63 from a heart attack near his home in Carmel, California, on June 12, 1972. He was cremated in Carmel and his ashes were interred at Mt. Mayriv Cemetery (the cemetery is now included in Zion Gardens Cemetery) in Chicago.[17][18] Shortly before his death he had discussed life after death in Playboy:[4]

ALINSKY: … if there is an afterlife, and I have anything to say about it, I will unreservedly choose to go to hell.
PLAYBOY: Why?
ALINSKY: Hell would be heaven for me. All my life I’ve been with the have-nots. Over here, if you’re a have-not, you’re short of dough. If you’re a have-not in hell, you’re short of virtue. Once I get into hell, I’ll start organizing the have-nots over there.
PLAYBOY: Why them?
ALINSKY: They’re my kind of people.

Legacy and honors

The documentary, The Democratic Promise: Saul Alinsky and His Legacy, states that “Alinsky championed new ways to organize the poor and powerless that created a backyard revolution in cities across America.”[19] Based on his organizing in Chicago, Alinsky formed the Industrial Areas Foundation (IAF) in 1940. After he died, Edward T. Chambers became its Executive Director. Hundreds of professional community and labor organizers, and thousands of community and labor leaders have been trained at its workshops. Fred Ross, who worked for Alinsky, was the principal mentor for Cesar Chavez and Dolores Huerta. Other organizations following in the tradition of the Congregation-based Community Organizing pioneered by IAF include PICO National Network, Gamaliel Foundation, Brooklyn Ecumenical Cooperatives, founded by former IAF trainer, Richard Harmon and Direct Action and Research Training Center (DART).[20][21][22]

Several prominent American leaders have been influenced by Alinsky’s teachings,[21] including Ed Chambers,[19] Tom Gaudette, Ernesto Cortes, Michael Gecan, Wade Rathke, and Patrick Crowley.[23][24] Alinsky is often credited with laying the foundation for the grassroots political organizing that dominated the 1960s.[19] Jack Newfield, writing in New York magazine, included Alinsky among “the purest Avatars of the populist movement”, along with Ralph Nader, Cesar Chavez, and Jesse Jackson.[25]

Although Alinsky held little respect for elected officials,[26] he has been described as an influence on several notable politicians in both the Democratic and Republican parties.

In 1969, while a political science major at Wellesley College, Hillary Rodham chose to write her senior thesis on Alinsky’s work, with Alinsky himself contributing his own time to help her.[27][28] Although Rodham defended Alinksy’s intentions in her thesis, she was critical of his methods and dogmatism.[27][29] (Years later when she became First Lady, the thesis was not made publicly available by the school based upon a White House request.[30])

According to biographer Sanford Horwitt, U.S. President Barack Obama was influenced by Alinsky and followed in his footsteps as a Chicago-based community organizer. Horwitt asserted that Barack Obama’s 2008 presidential campaign was influenced by Alinsky’s teachings.[31] Alinksy’s influence on Obama has been heavily emphasized by some of his detractors, such as Rush Limbaugh and Glenn Beck. Thomas Sugrue of Salon.com writes, “as with all conspiracy theories, the Alinsky-Obama link rests on a kernel of truth”.[26] For three years in the mid 80s, Obama worked for the Developing Communities Project, which was influenced by Alinsky’s work, and he wrote an essay that was collected in a book memorializing Alinsky.[26][32] Newt Gingrich repeatedly stated his opinion that Alinsky was a major influence on Obama during his 2012 presidential campaign, equating Alinsky with “European Socialism”, although Alinsky was U.S.-born and was not a Socialist.[33] Gingrich’s campaign itself used tactics described by Alinsky’s writing.[34]

Adam Brandon, a spokesman for the conservative non-profit organization FreedomWorks, one of several groups involved in organizing Tea Party protests, says the group gives Alinsky’s Rules for Radicals to its top leadership members. A shortened guide called Rules for Patriots is distributed to its entire network. In a January 2012 story that appeared in The Wall Street Journal, citing the organization’s tactic of sending activists to town-hall meetings, Brandon explained, “[Alinsky’s] tactics when it comes to grass-roots organizing are incredibly effective.” Former Republican House Majority Leader Dick Armey also gives copies of Alinsky’s book Rules for Radicals to Tea Party leaders.[35]

In 1969, Alinsky was awarded the Pacem in Terris Peace and Freedom Award, an annual award given by the Diocese of Davenport to commemorate an encyclical by Pope John XXIII.[36]

See also

Works

  • Reveille for Radicals, Chicago: University of Chicago Press, 1946.
  • John L. Lewis: An Unauthorized Biography. New York: Putnam, 1949.
  • Rules for Radicals: A Pragmatic Primer for Realistic Radicals. New York: Random House, 1971.
  • The Philosopher and the Provocateur: The Correspondence of Jacques Maritain and Saul Alinsky. Bernard E Doering (ed.). Notre Dame, IN: University of Notre Dame Press, 1994.

https://en.wikipedia.org/wiki/Saul_Alinsky

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Lawrence B. Lindsey

From Wikipedia, the free encyclopedia
Lawrence B. Lindsey
Director of the National Economic Council
In office
January 20, 2001 – December 12, 2002
President George W. Bush
Preceded by Gene Sperling
Succeeded by Steve Friedman
Personal details
Born July 18, 1954 (age 62)
Peekskill, New York, U.S.
Political party Republican
Spouse(s) Susan Lindsey
Children 3
Alma mater Bowdoin College
Harvard University

Lawrence B. Lindsey was director of the National Economic Council (2001–2002), and the assistant to the president on economic policy for the U.S. President George W. Bush. He played a leading role in formulating President Bush’s $1.35 trillion tax cut plan, convincing candidate Bush that he needed an “insurance policy” against an economic turndown. He left the White House in December 2002 and was replaced by Stephen Friedman after a dispute over the projected cost of the Iraq War. Lindsey estimated the cost of the Iraq War could reach $200 billion, while Defense Secretary Donald Rumsfeld estimated that it would cost less than $50 billion.[1]

Biography and achievements

Lindsey was born on July 18, 1954 in Peekskill, New York. He graduated from Lakeland Senior High School in Shrub Oak, New York in 1972. An alumnus of Alpha Rho Upsilon fraternity at Bowdoin College, he received his A.B. magna cum laude and Phi Beta Kappa from Bowdoin and his A.M. and Ph.D. in economics from Harvard University.

He is the author of The Growth Experiment: How the New Tax Policy is Transforming the U.S. Economy (Basic Books, New York, 1990, ISBN 978-0465050703), Economic Puppetmasters: Lessons from the Halls of Power (AEI Press, Washington, D.C., 1999, ISBN 978-0844740812), What A President Should Know …but most learn too late: An Insiders View On How To Succeed In The Oval Office (Rowman & Littlefield Publishers, Inc., Maryland, 2008, ISBN 978-0742562226), and Conspiracies of the Ruling Class: How to Break Their Grip Forever (Simon & Schuster, 2016, ISBN 978-1501144233). Also he has contributed numerous articles to professional publications. His honors and awards include the Distinguished Public Service Award of the Boston Bar Association, 1994; an honorary degree from Bowdoin College, 1993; selection as a Citicorp/Wriston Fellow for Economic Research, 1988; and the Outstanding Doctoral Dissertation Award from the National Tax Association, 1985.

During the Reagan Administration, he served three years on the staff of the Council of Economic Advisers as Senior Staff Economist for Tax Policy. He then served as Special Assistant to the President for Policy Development during the first Bush administration

Lindsey served as a Member of the Board of Governors of the Federal Reserve System for five years from November 1991 to February 1997. Additionally, Lindsey was Chairman of the Board of the Neighborhood Reinvestment Corporation, a national public/private community redevelopment organization, from 1993 until his departure from the Federal Reserve.

From 1997 to January 2001, Lindsey was a Resident Scholar and holder of the Arthur F. Burns Chair in Economics at the American Enterprise Institute in Washington, D.C. He was also Managing Director of Economic Strategies, an economic advisory service based in New York City. During 1999 and throughout 2000 he served as then-Governor George W. Bush’s chief economic advisor for his presidential campaign. He is a former associate professor of Economics at Harvard University.

Lindsey is Chief Executive Officer of the Lindsey Group, which he runs with a former colleague from the National Economic Council and writes for The Wall Street Journal, Weekly Standard and other publications. He is a visiting scholar at the American Enterprise Institute.

Controversies

Lindsey is famous for spotting the emergence of the late 1990s U.S. stock market bubble back in 1996 while a Governor of the Federal Reserve. According to the meeting transcripts for September of that year, Lindsey challenged the expectation that corporate earnings would grow 11½ percent a year continually. He said, “Readers of this transcript five years from now can check this fearless prediction: profits will fall short of this expectation.” According to the Bureau of Economic Analysis, corporate profits as a share of national income eroded from 1997 until 2001. Stock prices eventually collapsed, starting their decline in March 2000, though the S&P500 remained above its 1996 level, casting doubt on the assertion that there was a stock market bubble in 1996.

In contrast to Chairman Greenspan, Lindsey argued that the Federal Reserve had an obligation to prevent the stock market bubble from growing out of control. He argued that “the long term costs of a bubble to the economy and society are potentially great…. As in the United States in the late 1920s and Japan in the late 1980s, the case for a central bank ultimately to burst that bubble becomes overwhelming. I think it is far better that we do so while the bubble still resembles surface froth and before the bubble carries the economy to stratospheric heights.” During the 2000 Presidential campaign, Governor Bush was criticized for picking an economic advisor who had sold all of his stock in 1998.[citation needed]

According to the Washington Post,[2] Lindsey was on an advisory board to Enron along with Paul Krugman before joining the White House. Lindsey and his colleagues warned Enron that the economic environment was riskier than they perceived.

Cost of the Iraq War

On September 15, 2002, in an interview with the Wall Street Journal, Lindsey estimated the high limit on the cost of the Bush administration’s plan in 2002 of invasion and regime change in Iraq to be 1–2% of GNP, or about $100–$200 billion.[3][4] Mitch Daniels, Director of the Office of Management and Budget, discounted this estimate as “very, very high” and Defense Secretary Donald Rumsfeld stated that the costs would be under $50 billion.[1] Rumsfeld called Lindsey’s estimate “baloney”.[5]

As of 2007 the cost of the invasion and occupation of Iraq exceeded $400 billion, and the Congressional Budget Office in August 2007 estimated that appropriations would eventually reach $1 trillion or more.[6]

In October 2007, the Congressional Budget Office estimated that by 2017, the total costs of the wars in Iraq and Afghanistan could reach $2.4 trillion. In response, Democratic Representative Allen Boyd criticized the administration for firing Lindsey, saying “They found him a job outside the administration.”[7]

References

  1. ^ Jump up to:a b Wolk, Martin (2006-05-17). “Cost of Iraq war could surpass $1 trillion”. MSNBC. Retrieved 2008-03-10. Back in 2002, the White House was quick to distance itself from Lindsey’s view. Mitch Daniels, director of the White House budget office, quickly called the estimate “very, very high.” Lindsey himself was dismissed in a shake-up of the White House economic team later that year, and in January 2003, Defense Secretary Donald Rumsfeld said the budget office had come up with “a number that’s something under $50 billion.” He and other officials expressed optimism that Iraq itself would help shoulder the cost once the world market was reopened to its rich supply of oil.
  2. Jump up^ Once a Friend and Ally, Now a Distant Memory. Washington Post
  3. Jump up^ Davis, Bob (September 16, 2002). “Bush Economic Aide Says the Cost Of Iraq War May Top $100 Billion”. The Wall Street Journal. Reprinted in Congressional Record, vol. 148, issue 117, 107th Congress, pp. S8643-S8644.[dead link]
  4. Jump up^ Engel, Matthew (September 17, 2002). “Cost of war put at $200bn, but that’s nothing, says US adviser”. The Guardian. Retrieved July 23, 2011.
  5. Jump up^ Bryne, John (2008-03-18). “Price of Iraq war now outpaces Vietnam”. The Raw Story. Archived from the original on 2008-03-21. Retrieved 2008-03-18.
  6. Jump up^ Bender, Bryan (2007-08-01). “Analysis says war could cost $1 trillion”. The Boston Globe. Retrieved 2008-03-10.
  7. Jump up^ “Congress told of war costs up to $2.4 trillion by 2017”. The Register-Guard. October 25, 2007. Retrieved 2007-10-25.[dead link]

External links

Political offices
Preceded by
Gene Sperling
Director of the National Economic Council
2001–2002
Succeeded by
Steve Friedman
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Arthur C. Brooks — The Road To Freedom: How To Win The Fight For Free Enterprise — Revised and Updated — Videos

Posted on September 17, 2016. Filed under: American History, Banking, Blogroll, Books, Business, College, Communications, Computers, Congress, Constitution, Economics, Education, Elections, Employment, Faith, Family, Federal Government, Federal Government Budget, Fiscal Policy, Food, Foreign Policy, Freedom, government, government spending, Health Care, Heroes, history, History of Economic Thought, Internal Revenue Service (IRS), Investments, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, Monetary Policy, Money, Money, Non-Fiction, People, Philosophy, Photos, Political Correctness, Politics, Raves, Raymond Thomas Pronk, Resources, Security, Talk Radio, Tax Policy, Taxation, Taxes, Technology, Trade Policiy, Unemployment, Vacations, Video, War, Wealth, Welfare, Wisdom, Work, Writing | Tags: , , , , , , , , , , , , |

 

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Wealth, Poverty, and Politics

Hoover Institution fellow Thomas Sowell discusses poverty around the world and in the United States. Poverty in America, he says, compared to the rest of the world, is not severe. Many poor people in poverty in the United States have one or two cars, central heating, and cell phones. The real problem for the poor is the destruction of the family, which Sowell argues dramatically increased once welfare policies were introduced in the 1960s.

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Jim Powell — Triumph of Liberty — VideosThe Triumph of Liberty: A 2,000-Year History, Told through the Lives of Freedom’s Greatest Champions

Posted on September 3, 2016. Filed under: American History, Banking, Blogroll, Books, British History, College, Congress, Constitution, Documentary, Economics, Education, Employment, European History, Faith, Family, Freedom, Friends, government, government spending, Heroes, history, History of Economic Thought, Investments, Law, liberty, Life, Links, Literacy, Macroeconomics, media, Microeconomics, Middle East, Monetary Policy, Money, Newspapers, Non-Fiction, People, Philosophy, Photos, Police, Political Correctness, Politics, Psychology, Radio, Rants, Raves, Raymond Thomas Pronk, Religious, Reviews, Speech, Spying, Strategy, Talk Radio, Taxation, Taxes, Technology, Television, Television, Trade, Wealth, Welfare, Wisdom, Work, Writing | Tags: , , , , , , , , , , |

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The Triumph of Liberty: A 2,000-Year History, Told through the Lives of Freedom’s Greatest Champions

“The Triumph of Liberty” Book Review

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Why is the Wealth of Nations So Damn Long? — Increasing Returns For Pinheads — Videos

Posted on August 20, 2016. Filed under: Articles, Blogroll, Books, College, Data, Defense Intelligence Agency (DIA), Documentary, Economics, Education, Elections, Employment, Macroeconomics, Microeconomics, Monetary Policy, Trade Policiy | Tags: , , , , , , , , , , , , , , , , |

Four Horsemen – Feature Documentary – Official Version

The Real Adam Smith: Ideas That Changed The World – Full Video

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Cato Events – On the Wealth of Nations

Increasing Returns and the New World of Business

The Law of Increasing Returns

By Ronald A. Bailey
This essay originally appeared in the National Interest.

Two hundred years after Thomas Robert Malthus published An Essay on the Principle of Population, demographers, ecologists, economists, biologists and policymakers still debate his theory of population. Leading foundations spend scores of millions of dollars on population programs, while the United Nations holds international conferences on the topic and even has a specialized agency, the United Nations Population Fund, devoted to the issue. Last year the Fund portentously declared that the world’s population reached six billion on October 12. Every year, hundreds of weighty studies and books pour from the universities and think tanks discussing what is to be done.Malthus advanced two propositions that he regarded as completely self-evident. First, that “food is necessary for the existence of man”, and second, that “the passion between the sexes is necessary and will remain nearly in its present state.” Based on these propositions, Malthus famously concluded that “the power of population is indefinitely greater than the power in the earth to produce subsistence for man. Population, when unchecked, increases in a geometrical ratio. Subsistence increases only in an arithmetical ratio. A slight acquaintance with numbers will show the immensity of the first power in comparison with the second.”

Malthus illustrated his hypothesis using two sets of numbers: “the human species would increase in the ratio of—1, 2, 4, 8, 16, 32, 64, 128, 256, 512, &c. and subsistence as—1, 2, 3, 4, 5, 6, 7, 8, 9, 10, &c.” He further asserted that “population does invariably increase where there are the means of subsistence.” Malthus’ dismal summary of the situation in which humanity finds itself is that some portion of mankind must forever be starving to death; and, further, efforts to aid the starving will only lead to more misery, as those initially spared from famine bear too many children to feed with existing food supplies.

In his first edition of the Essay, Malthus argued that there were two “checks” on population, “preventive” and “positive.” Preventive checks, those that prevent births, include abortion, infanticide and prostitution; positive checks include war, pestilence and famine. In later editions, he added a third check that he called “moral restraint”, which includes voluntary celibacy, late marriage and the like. Moral restraint is basically just a milder version of the earlier preventive check. If all else fails to keep human numbers under control, Malthus chillingly concludes,

“Famine seems to be the last, the most dreadful resource of nature. The power of population is so superior to the power in the earth to produce subsistence for man, that premature death must in some shape or other visit the human race. The vices of mankind are active and able ministers of depopulation. They are the precursors in the great army of destruction, and often finish the dreadful work themselves. But should they fail in this war of extermination, sickly seasons, epidemics, pestilence, and plague, advance in terrific array, and sweep off their thousands and ten thousands. Should success be still incomplete, gigantic inevitable famine stalks in the rear, and with one mighty blow, levels the population with the food of the world.”

Malthus’ principle of population has proved to be one of the most influential and contested theories in history. It provided a crucial insight for Charles Darwin as he was developing his theory of natural selection. In his autobiography, Darwin wrote that in October 1838,

“I happened to read for amusement Malthus on Population, and being well prepared to appreciate the struggle for existence which everywhere goes on, from long-continued observation of the habits of animals and plants, it at once struck me that under these circumstances favourable variations would tend to be preserved, and unfavourable ones would be destroyed. The result of this would be the formation of a new species. Here, then, I had at last got a theory by which to work.”

Naturalists, biologists and ecologists have since applied Malthusian theory not only to animals and plants, but to humans as well. Undeniably, his principle of population has an appealing simplicity, and has proved a fruitful hypothesis for ecology and population biology. It undergirds such biological concepts as carrying capacity, which is a measure of the population that a given ecosystem can support. The Kaibab Plateau deer, for example, is a famous case of an animal population outstripping its food supply. In the 1920s, the deer population expanded dramatically. In the absence of predators, a forage shortage ensued, which in turn led to a dramatic reduction of the deer population.

If the concept of carrying capacity can explain fluctuations in animal populations, some intellectuals have reasoned in the second half of the twentieth century, it should apply equally well to human populations. As Stanford University entomologist Paul Ehrlich has explained: “To ecologists who study animals, food and population often seem like sides of the same coin. If too many animals are devouring it, the food supply declines; too little food, the supply of animals declines… . Homo sapiens is no exception to that rule, and at the moment it seems likely that food will be our limiting resource.”

In the late 1960s, Ehrlich was one of many biologists and agronomists who began to issue dire warnings about human “overpopulation”, the most famous of which appeared in his book, The Population Bomb (1968). “The battle to feed all of humanity is over”, Ehrlich wrote. “In the 1970s, the world will undergo famines—hundreds of millions of people are going to starve to death in spite of any crash programs embarked on now.” Later, in an article for the first Earth Day in 1970, Ehrlich outlined a horrific scenario in which 65 million Americans and 4 billion other people would die of starvation in a “Great Die-Off” between 1980 and 1989. And in 1990 Ehrlich and his wife Anne published The Population Explosion, where they once again asserted that, “One thing seems safe to predict: starvation and epidemic disease will raise the death rates over most of the planet.” In these gloomy forecasts, Ehrlich was far from alone. In 1967, William and Paul Paddock asserted in their book, Famine 1975!, that, “The famines which are now approaching … are for a surety, inevitable… . In fifteen years the famines will be catastrophic.” Today, the Worldwatch Institute, a Washington, dc environmentalist advocacy group chaired by Lester Brown, still has a solid Malthusian focus.

Food is not the only resource said to be in short supply. In 1972 the Club of Rome, a group of politicians, businessmen and senior international bureaucrats, famously commissioned The Limits to Growth report, which concluded: “If the present growth trends in world population, industrialization, pollution, food production, and resource depletion continue unchanged, the limits to growth on this planet will be reached sometime in the next one hundred years. The probable result will be a rather sudden and uncontrollable decline in both population and industrial capacity.”

This is Malthus writ large: not only will humanity run out of food, but it will also run out of non-renewable resources like minerals and fossil fuels… .

The Primacy of Ideas

For decades, economists essentially used a two-factor model in which economic growth was accounted for by adding more labor and more capital to create more goods. The problem with this model is that over time growth must halt when the marginal value of the goods produced equals the cost of the labor and capital used to produce them. This neoclassical model of economic growth was elaborated in the 1950s by Nobelist Robert Solow and his colleagues, and was later incorporated into The Limits to Growth computer model. Relying on it, MIT researchers predicted eventual collapse as the inevitable result of continued economic and population growth.

In the last two decades, economic forecasters, following the lead of economist Paul Romer, have made a conceptual breakthrough that has enabled them to describe more rigorously and accurately—and differently—how economic growth occurs and how, with the proper social institutions, it can continue for the foreseeable future. Romer explains this approach, which has come to be known as the New Growth Theory:

“New growth theorists now start by dividing the world into two fundamentally different types of productive inputs that can be called ‘ideas’ and ‘things. ’ Ideas are nonrival goods that could be stored in a bit string. Things are rival goods with mass (or energy). With ideas and things, one can explain how economic growth works. Nonrival ideas can be used to rearrange things, for example, when one follows a recipe and transforms noxious olives into tasty and healthful olive oil. Economic growth arises from the discovery of new recipes and the transformation of things from low to high value configurations.”

Decoding the clunky economic terminology, “rival” goods are simply things that cannot be used by two or more persons at once, e.g., cars, drill presses, computers, even human bodies and brains. “Nonrival” goods can be used by any number of people simultaneously, e.g., recipes for bread, blueprints for houses, techniques for growing corn, formulas for pharmaceuticals, scientific principles like the law of gravity, and computer programs.

To understand the potency of ideas, consider that a few decades ago silicon was used primarily to make glass. Today it is a crucial component in microchips and optical fibers. Again, until fairly recently petroleum was known mainly as a nuisance for people engaged in drilling water wells; its use as a cheap lighting replacement for increasingly scarce whale oil only began in the 1890s, and soon after came the internal combustion engine.

We make ourselves better off, then, not by increasing the amount of resources on planet earth—that is, of course, fixed—but by rearranging resources we already have available so that they provide us with more of what we want. This process of improvement has been going on ever since the first members of our species walked the earth. We have moved from heavy earthenware pots to ultrathin plastics and lightweight aluminum cans. To cook our food we have shifted from wood-intensive campfires to clean, efficient natural gas. By using constantly improving recipes, humanity has avoided the Malthusian trap while at the same time making the world safer and more comfortable for an ever larger portion of the world’s population.

In fact, increasing, rather than diminishing, returns characterize many economic activities. For example, it may cost $150 million to develop the first vial of a new vaccine to prevent Lyme disease. Yet every vial after that is essentially free. The same is true for computer programs: it may cost Microsoft $500 million for the first copy of Windows 98, but each subsequent copy is merely the cost of the disk on which it is stored. Or in the case of telecommunications, laying a fiber optic network may cost billions of dollars, but once operational it can transmit millions of messages at virtually no added cost. And the low costs of each of these inventions make it possible for the people who buy them to be even more productive in their own activities—by avoiding illness, expediting word processing, and drastically increasing the tempo of information exchanges.

What modern Malthusians who fret about the depletion of resources miss is that it is not oil that people want; they want to cool and heat their homes. It is not copper telephone lines that people want; they want to communicate quickly and easily with friends, family and businesses. They do not want paper; they want a convenient and cheap way to store written information. In short, what is important is not the physical resource but the function to be performed; and for that, ideas are the crucial input. Robert Kates notes that technological discoveries have “transformed the meaning of resources and increased the carrying capacity of the Earth”; economist Gale Johnson concludes that history has clearly confirmed that “no exhaustible resource is essential or irreplaceable”; and economist Dwight Lee asserts that “the relevant resource base is defined by knowledge, rather than by physical deposits of existing resources.”

Romer sums it up this way: “Every generation has perceived the limits to growth that finite resources and undesirable side effects would pose if no new recipes or ideas were discovered. And every generation has underestimated the potential for finding new recipes and ideas. We consistently fail to grasp how many ideas remain to be discovered. The difficulty is the same one we have with compounding. Possibilities do not add up. They multiply.”

This, it should be noted, is the mirror image of Malthus’ argument about exponential growth. Here, however, ideas grow much faster than population.

By using a number of simple calculations, Romer illustrates the point that the number of possible discoveries and inventions is incomprehensibly vast. Take, for example, the chemical combinations one can derive from the periodic table of elements. There are about 100 different elements and if one serially combined any four, one would get about 94 million combinations. Romer further assumes that these elements could be combined in differing proportions ranging from 1 to 10. This yields 3,500 proportions times 94 million combinations and provides 330 billion different recipes in total. At the rate of 1,000 recipes per day, it would take scientists nearly a million years to evaluate them all. What is more, this vastly underestimates the actual number of combinations available, since one could combine more than four elements, in different proportions, at different temperatures and pressures—and so on and on.

Again, consider the number of computer programs that could be installed on a single computer hard disk drive. Romer calculates that the number of distinct software programs that can be put on a one-gigabyte hard disk is roughly one followed by 2.7 billion zeros. By comparison, the total number of seconds that have elapsed since the beginning of the universe is only about 1 followed by 17 zeros, and the total number of atoms in the universe is equal to about 1 followed by 100 zeros.

In short, then, people possess a nearly infinite capacity to rearrange physical objects by creating new recipes for their use. Yet some committed Malthusians object that Romer and others who hold that economic growth is potentially limitless not only violate the law of diminishing returns but transgress an even more fundamental physical law: the second law of thermodynamics. According to the second law, in a closed system disorder tends to increase. Think of a droplet of ink as a highly ordered pigment that is diluted when it is dropped into a ten-gallon aquarium. When the pigment’s molecules spread evenly throughout the water, disorder is at a maximum—that is, it becomes virtually impossible to reconstitute the droplet. The idea, then, is that the maintenance of order in one part of the system (heating a house) requires an increase of disorder elsewhere (burning oil).

In fact, the solution to the puzzle of life and of a growing economy is that the earth is not a closed system—the energy that drives it comes principally from the sun. It is true that the sun’s energy is being dissipated. But it will not burn out for another four to five billion years. Hence, the recipes that humans could devise for obtaining and using energy are for all practical purposes limitless. Until medieval times, people inefficiently heated and cooked with open fires in their homes. Then someone in Europe invented the chimney, which dramatically increased the efficiency of heating and cooking. In the eighteenth century, Benjamin Franklin invented the cast iron stove, which again boosted efficiency—and so on, to today’s modern electric heat pumps and gas furnaces. And new ideas and designs continue to be developed all the time, among them passive solar homes, solar cells, fuel cells and nuclear power plants. It seems safe to conclude that so long as the sun shines, the second law of thermodynamics is not terribly relevant.

Indeed, trying to forecast today the energy mix for the next hundred years, especially given the current rate of technological innovation, is as fruitless as someone in 1900 trying to predict our current energy requirements. A person in 1900 would surely not have anticipated scores of millions of automobiles and trucks, thousands of jet planes, and millions of refrigerators. Because of this, the wisest course is for humanity to support institutions and incentive systems that will encourage future scientists, inventors and entrepreneurs to discover, finance and build the technologies that will supply human needs and protect the natural world in the coming century.

Reframing the Problems

Insights from New Growth Theory reframe many environmental problems and suggest some surprising solutions. For example, one of the global environmental problems most commonly attributed to population and economic growth is the loss of tropical forests. But is growth really to blame? According to the Consultative Group on International Agricultural Research, the chief factor that drives deforestation in developing countries is not commercial logging but “poor farmers who have no other option to feeding their families other than slashing and burning a patch of forest… . Slash-and-burn agriculture results in the loss or degradation of some 25 million acres of land per year.”

By contrast, the United States today farms less than half of the land that it did in the 1920s but produces far more food now than it did then. The key, of course, is technology. In fact, available farming technology from developed countries could prevent, and in many cases reverse, the loss of tropical forests and other wildlife habitat around the globe. Unfortunately, institutional barriers, the absence of secure property rights, corrupt governments and a lack of education prevent its widespread diffusion and, hence, environmental restoration.

Another environmental problem frequently attributed to population growth is pollution. In 1972 The Limits to Growth computer model projected that pollution would skyrocket as population increased: “Virtually every pollutant that has been measured as a function of time appears to be increasing exponentially.” But once again, the new Malthusians had things exactly backward. Since 1972, America’s population has risen 26 percent and its economy has more than doubled. Western Europe and Japan have experienced similar rates of growth. Yet, instead of increasing as predicted, air pollutants have dramatically declined.

In fact, a growing body of literature suggests that in most cases there are thresholds of wealth at which the amount of a pollutant begins to decline. Department of Interior analyst Indur Goklany calls these thresholds the “environmental transition.” What this means is that when people rise above mere subsistence, they begin demanding amenities such as clean air and water. The first environmental transition is clean drinking water. Goklany has found that the level of fecal coliform bacteria in rivers, which is a good measure of water pollution, peaks when average per capita incomes reach $1,400 per year. The next transition occurs when particulates like smoke and soot peak at $3,200. And again, levels of sulfur dioxide peak at about $3,700.

Not surprisingly, committed Malthusians reject such findings. Paul Ehrlich, for instance, stubbornly insists that, “Most people do not recognize that, at least in rich nations, economic growth is the disease, not the cure.” [emphasis in original] To counteract the “disease” of economic growth, Maurice King recommends that people in the “privileged North” should engage in “the deliberate quest of poverty” to curb their “luxurious resource consumption.”

The favored target of such critiques is the United States, whose citizens are supposedly consuming more than their fair share of the world’s goods and causing more than their fair share of its ills. The average American, however, is not only a consumer but a producer of both goods and ideas. Americans and Europeans get more done with relatively less because of their higher levels of education, greater access to productive tools, superior infrastructure, democratic governments and free markets. As a consequence, output per hour of labor in the United States today is ten times what it was a hundred years ago. Thus, the average Westerner creates far more resources, especially knowledge and technology, than she or he consumes. Thus, too, both Western economies and environments are improving simultaneously.

All that said, if the right social institutions are lacking—democratic governance, secure private property, free markets—it is possible for a nation to fall into the Malthusian trap of rising poverty and increasing environmental degradation. The economies of many countries in Africa are declining, not because of high population growth rates or lack of resources, but because they have failed to implement the basic policies for encouraging economic growth: namely, widespread education, secure property rights and democratic governance.

Democratic governance and open markets have in fact proved indispensable for the prevention of famine in modern times. Nobel Prize-winning economist Amartya Sen notes that “in the terrible history of famines in the world, there is hardly any case in which a famine has occurred in a country that is independent and democratic, with an uncensored press.” Why is this? Because, says Sen, “So long as famines are relatively costless for the government, with no threat to its survival or credibility, effective actions to prevent famines do not have the urgency to make them inescapable imperatives for the government.”6 Along with Romer and other theorists, Sen also argues that general economic growth, not just growth in food output, is crucial to ending the threat of famine in Africa. He calls “for measures to encourage and enhance technical change, skill formation and productivity—both in agriculture and in other fields.”

Contemporary Malthusians liken humanity to a car travelling one hundred miles per hour on a foggy road. And they warn of dire consequences if we do not slow down. But if we adopt institutions and regulations that slow the pace of innovation, we may find ourselves depleting our current energy supplies before they can be replaced by new ones. New Growth Theory suggests that a better analogy might be that human society is an airplane cloaked in clouds flying at a speed of six hundred miles per hour. If the plane slows down, it will lose air speed and may crash before arriving safely at its destination.

We cannot deplete the supply of ideas, designs and recipes. They are immaterial and limitless, and therefore not bound in any meaningful sense by the second law of thermodynamics. Surely no one believes that humanity has already devised all of the methods to conserve, locate and exploit new sources of energy, or that the flow of ideas to improve houses, transportation, communications, medicine and farming has suddenly dried up. Though far too many of our fellow human beings are caught in local versions of the Malthusian trap, we must not mistake the situation of that segment as representing the future of all of humanity and the earth itself; it is, instead, a dwindling remnant of an unhappy past. Misery is not the inevitable lot of humanity, nor is the ruin of the natural world a foregone conclusion.

http://www.cato.org/publications/commentary/law-increasing-returns

Returns to scale

From Wikipedia, the free encyclopedia

In economics, returns to scale and economies of scale are related but different terms that describe what happens as the scale of production increases in the long run, when all input levels including physical capitalusage are variable (chosen by the firm). The term returns to scale arises in the context of a firm’s production function. It explains the behavior of the rate of increase in output (production) relative to the associated increase in the inputs (the factors of production) in the long run. In the long run all factors of production are variable and subject to change due to a given increase in size (scale). While economies of scale show the effect of an increased output level on unit costs, returns to scale focus only on the relation between input and output quantities.

The laws of returns to scale are a set of three interrelated and sequential laws: Law of Increasing Returns to Scale, Law of Constant Returns to Scale, and Law of Diminishing returns to Scale. If output increases by that same proportional change as all inputs change then there are constant returns to scale (CRS). If output increases by less than that proportional change in inputs, there are decreasing returns to scale(DRS). If output increases by more than that proportional change in inputs, there are increasing returns to scale (IRS). A firm’s production function could exhibit different types of returns to scale in different ranges of output. Typically, there could be increasing returns at relatively low output levels, decreasing returns at relatively high output levels, and constant returns at one output level between those ranges.[citation needed]

In mainstream microeconomics, the returns to scale faced by a firm are purely technologically imposed and are not influenced by economic decisions or by market conditions (i.e., conclusions about returns to scale are derived from the specific mathematical structure of the production function in isolation).

Example

When all inputs increase by a factor of 2, new values for output will be:

  • Twice the previous output if there are constant returns to scale (CRS)
  • Less than twice the previous output if there are decreasing returns to scale (DRS)
  • More than twice the previous output if there are increasing returns to scale (IRS)

Assuming that the factor costs are constant (that is, that the firm is a perfect competitor in all input markets), a firm experiencing constant returns will have constant long-run average costs, a firm experiencing decreasing returns will have increasing long-run average costs, and a firm experiencing increasing returns will have decreasing long-run average costs.[1][2][3] However, this relationship breaks down if the firm does not face perfectly competitive factor markets (i.e., in this context, the price one pays for a good does depend on the amount purchased). For example, if there are increasing returns to scale in some range of output levels, but the firm is so big in one or more input markets that increasing its purchases of an input drives up the input’s per-unit cost, then the firm could have diseconomies of scale in that range of output levels. Conversely, if the firm is able to get bulk discounts of an input, then it could have economies of scale in some range of output levels even if it has decreasing returns in production in that output range.

Formal definition

Formally, a production function {\displaystyle \ F(K,L)}\ F(K,L) is defined to have:

  • Constant returns to scale if (for any constant a greater than 0) {\displaystyle \ F(aK,aL)=aF(K,L)}\ F(aK,aL)=aF(K,L)
  • Increasing returns to scale if (for any constant a greater than 1) {\displaystyle \ F(aK,aL)>aF(K,L),}\ F(aK,aL)>aF(K,L),
  • Decreasing returns to scale if (for any constant a greater than 1) {\displaystyle \ F(aK,aL)<aF(K,L)}\ F(aK,aL)<aF(K,L)

where K and L are factors of production—capital and labor, respectively.

In a more general set-up, for a multi-input-multi-output production processes, one may assume technology can be represented via some technology set, call it {\displaystyle \ T}\ T, which must satisfy some regularity conditions of production theory.[4][5][6][7][8] In this case, the property of constant returns to scale is equivalent to saying that technology set {\displaystyle \ T}\ T is a cone, i.e., satisfies the property {\displaystyle \ aT=T,\forall a>0}\ aT=T,\forall a>0. In turn, if there is a production function that will describe the technology set {\displaystyle \ T}\ T it will have to be homogeneous of degree 1.

Formal example

The Cobb-Douglas functional form has constant returns to scale when the sum of the exponents adds up to one. The function is:

{\displaystyle \ F(K,L)=AK^{b}L^{1-b}}\ F(K,L)=AK^{{b}}L^{{1-b}}

where {\displaystyle A>0}A>0 and {\displaystyle 0<b<1}0<b<1. Thus

{\displaystyle \ F(aK,aL)=A(aK)^{b}(aL)^{1-b}=Aa^{b}a^{1-b}K^{b}L^{1-b}=aAK^{b}L^{1-b}=aF(K,L).}\ F(aK,aL)=A(aK)^{{b}}(aL)^{{1-b}}=Aa^{{b}}a^{{1-b}}K^{{b}}L^{{1-b}}=aAK^{{b}}L^{{1-b}}=aF(K,L).

But if the Cobb-Douglas production function has its general form

{\displaystyle \ F(K,L)=AK^{b}L^{c}}\ F(K,L)=AK^{{b}}L^{{c}}

with {\displaystyle 0<c<1,}0<c<1, then there are increasing returns if b + c > 1 but decreasing returns if b + c < 1, since

{\displaystyle \ F(aK,aL)=A(aK)^{b}(aL)^{c}=Aa^{b}a^{c}K^{b}L^{c}=a^{b+c}AK^{b}L^{c}=a^{b+c}F(K,L),}\ F(aK,aL)=A(aK)^{{b}}(aL)^{{c}}=Aa^{{b}}a^{{c}}K^{{b}}L^{{c}}=a^{{b+c}}AK^{{b}}L^{{c}}=a^{{b+c}}F(K,L),

which is greater than or less than {\displaystyle aF(K,L)}aF(K,L) as b+c is greater or less than one.

See also

References

  1. Jump up^ Gelles, Gregory M.; Mitchell, Douglas W. (1996). “Returns to scale and economies of scale: Further observations”. Journal of Economic Education. 27 (3): 259–261. JSTOR 1183297.
  2. Jump up^ Frisch, R. (1965). Theory of Production. Dordrecht: D. Reidel.
  3. Jump up^ Ferguson, C. E. (1969). The Neoclassical Theory of Production and Distribution. London: Cambridge University Press. ISBN 0-521-07453-3.
  4. Jump up^ • Shephard, R.W. (1953) Cost and production functions. Princeton, NJ: Princeton University Press.
  5. Jump up^ • Shephard, R.W. (1970) Theory of cost and production functions. Princeton, NJ: Princeton University Press.
  6. Jump up^ • Färe, R., and D. Primont (1995) Multi-Output Production and Duality: Theory and Applications. Kluwer Academic Publishers, Boston.
  7. Jump up^ Zelenyuk, V. (2013) “A scale elasticity measure for directional distance function and its dual: Theory and DEA estimation.” European Journal of Operational Research 228:3, pp 592–600
  8. Jump up^ Zelenyuk V. (2014) “Scale efficiency and homotheticity: equivalence of primal and dual measures” Journal of Productivity Analysis 42:1, pp 15-24.

Further reading

External links

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Sam Vaknin — Malignant Self Love: Narcissism Revisited — Vidoes

Posted on July 30, 2016. Filed under: American History, Articles, Blogroll, Business, Central Intelligence Agency (CIA), Communications, Congress, Constitution, Corruption, Crime, Crisis, Culture, Documentary, Economics, Education, Elections, Employment, Entertainment, Faith, Farming, Federal Bureau of Investigation (FBI), Federal Bureau of Investigation (FBI), Federal Government Budget, Fiscal Policy, Foreign Policy, Fraud, Freedom, Friends, government, government spending, history, History of Economic Thought, Homicide, Illegal, Immigration, IRS, Law, Legal, liberty, Life, Links, Literacy, Macroeconomics, Math, media, Microeconomics, Money, Movies, Music, Narcissism, National Security Agency (NSA), National Security Agency (NSA_, People, Philosophy, Photos, Police, Political Correctness, Politics, Presidential Candidates, Press, Programming, Psychology, Radio, Rants, Raves, Raymond Thomas Pronk, Religious, Securities and Exchange Commission, Speech, Strategy, Talk Radio, Tax Policy, Taxation, Taxes, Video, War, Water, Wealth, Weapons | Tags: , , , , , |

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Thomas F. Madden — Empires of Trust: How Rome Built and Amerca Is Building A New World — Chalmers Johnson — Dismantling The Empire: America’s Last Best Hope — Videos

Posted on July 26, 2016. Filed under: American History, Banking, Blogroll, Books, British History, College, Communications, Computers, Computers, Congress, Corruption, Crisis, Diasters, Documentary, Economics, Education, Employment, European History, Federal Government, Federal Government Budget, Fiscal Policy, Foreign Policy, Freedom, Friends, government, government spending, history, Illegal, Immigration, Language, Law, Legal, liberty, Life, Links, Macroeconomics, media, Microeconomics, Middle East, Monetary Policy, Money, National Security Agency (NSA), Non-Fiction, People, Philosophy, Photos, Politics, Private Sector, Public Sector, Rants, Raves, Raymond Thomas Pronk, Strategy, Talk Radio, Tax Policy, Taxation, Taxes, Technology, Terrorism, Trade Policiy, Unemployment, Unions, Video, War, Wealth, Welfare, Wisdom | Tags: , , , , , , |

“A nation can be one or the other, a democracy or an imperialist, but it can’t be both.

If it sticks to imperialism, it will, like the old Roman Republic, on which so much of our system was modeled, lose its democracy to a domestic dictatorship.”

~ Chalmers Johnson

(1931-2010)

empires of trustjpgmadden 2thomas f maddendismantling_the_empirenemisis_12the sorrows of empireblowbackchalmers_johnson

Remembering Chalmers Johnson and Frank W. Lewis

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Thomas Madden

From Wikipedia, the free encyclopedia
For other people named Thomas Madden, see Thomas Madden (disambiguation).
Thomas F. Madden
Madden2012.JPG

Madden, 2012
Born 1960
Residence St. Louis, Missouri
Nationality US
Alma mater University of New Mexico,University of Illinois
Occupation Historian
Employer Saint Louis University
Known for Crusades historian, Venicehistorian
Title Professor of History, Director of the Center for Medieval and Renaissance Studies, SLU
Website http://www.thomasmadden.org

Thomas F. Madden (born 1960) is an American historian, a former Chair of the History Department at Saint Louis University in St. Louis, Missouri, and Director of Saint Louis University’s Center for Medieval and Renaissance Studies.[1] A specialist on the Crusades, he has often commented in the popular media after the events of September 11, to discuss topics such as how Muslims have viewed the medieval Crusades and their parallels to today’s interventions in the Middle East.[2][3][4][5] He has frequently appeared in the media, as a consultant for various programs on the History Channel and National Public Radio.[6] In 2007, he was awarded the Haskins Medal from the Medieval Academy of America, for his book Enrico Dandolo and the Rise of Venice, also a “Book of the Month” selection by the BBC History magazine. In 2012, he was named a Fellow of theJohn Simon Guggenheim Memorial Foundation.

Biography

Madden received his bachelor’s degree from the University of New Mexico in 1986, and his Masters (1990) and PhD (1993) degrees in History from the University of Illinois.

Madden is active in the Society for the Study of the Crusades in the Latin East,[7] and organizes panels for the Annual Symposium on Medieval and Renaissance Studies in Saint Louis, Missouri.[8] He is the Director of the Crusades Studies Forum and the Medieval Italy Prosopographical Database Project, both housed at Saint Louis University.

Awards

Writing

Madden has written numerous books and journal articles, including the “Crusades” entry for the Encyclopædia Britannica. His research specialties are ancient and medieval history, including the Fourth Crusade, as well as ancient and medieval Italian history. His 1997 book The Fourth Crusade: The Conquest of Constantinople was a selection of the History Book Club. He is also known for speaking about the ways that the history of the Crusades is often used for manipulation of modern political agendas.[13] His book, The New Concise History of the Crusades has been translated into seven foreign languages.

His book Enrico Dandolo and the Rise of Venice won multiple awards, including the 2007 Haskins Medal from the Medieval Academy of America and the Otto Gründler Prize from the Medieval Institute.[9][10] According to the Medieval Review, with this book “Madden more than ever stakes out his place as one of the most important medievalists in America at present.”[14]

His 2008 book, Empires of Trust, was a comparative study that sought elements in historic republics that led to the development of empires. In the case of Rome, he argued that their citizens and leaders acquired a level of trust among allies and potential enemies that was based upon an unusual rejection of hegemonic power. His most recent book, Venice: A New History is the culmination of decades of work in the archives and libraries of Venice.

Books

  • Venice: A New History, 2012, Viking
  • Crusades: Medieval Worlds in Conflict, 2010 Ashgate
  • Empires of Trust, 2008, Dutton/Penguin
  • The Fourth Crusade: Event, Aftermath, and Perceptions, 2008, Ashgate
  • Crusades: The Illustrated History, 2005, University of Michigan Press
  • Enrico Dandolo and the Rise of Venice, 2003, Johns Hopkins University Press
  • The Crusades: The Essential Readings, 2002, Blackwell
  • The New Concise History of the Crusades, 1999, Rowman & Littlefield
  • Medieval and Renaissance Venice, 1999, University of Illinois Press
  • The Fourth Crusade: The Conquest of Constantinople, 1997, University of Pennsylvania Press

Select popular articles

Select scholarly articles

  • “The Venetian Version of the Fourth Crusade: Memory and the Conquest of Constantinople in Medieval Venice,” Speculum 87 (2012): 311-44.
  • “The Latin Empire of Constantinople’s Fractured Foundation: The Rift Between Boniface of Montferrat and Baldwin of Flanders,” in The Fourth Crusade: Event, Aftermath, and Perceptions (Brookfield: Ashgate Publishing, 2008): 45-52.
  • “Food and the Fourth Crusade: A New Approach to the ‘Diversion Question,'” in Logistics of Warfare in the Age of the Crusades, John H. Pryor, ed. (Brookfield: Ashgate Publishing, 2006): 209-28.
  • “Venice, the Papacy, and the Crusades before 1204,” in The Medieval Crusade, Susan J. Ridyard, ed. (Woodbridge: Boydell and Brewer, 2004): 85-95.
  • “The Enduring Myths of the Fourth Crusade,” World History Bulletin 20 (2004): 11-14.
  • “The Chrysobull of Alexius I Comnenus to the Venetians: The Date and the Debate,” Journal of Medieval History 28 (2002): 23-41.
  • “Venice’s Hostage Crisis: Diplomatic Efforts to Secure Peace with Byzantium between 1171 and 1184,” in Ellen E. Kittell and Thomas F. Madden, eds., Medieval and Renaissance Venice (Urbana: University of Illinois Press, 1999): 96-108.
  • “Outside and Inside the Fourth Crusade,” The International History Review 17 (1995): 726-43.
  • “Venice and Constantinople in 1171 and 1172: Enrico Dandolo’s Attitude towards Byzantium,” Mediterranean Historical Review 8 (1993): 166-85.
  • “Vows and Contracts in the Fourth Crusade: The Treaty of Zara and the Attack on Constantinople in 1204,” The International History Review 15 (1993): 441-68.
  • “Father of the Bride: Fathers, Daughters, and Dowries in Late Medieval and Early Renaissance Venice,” Renaissance Quarterly 46 (1993): 685-711. (with Donald E. Queller)
  • “The Fires of the Fourth Crusade in Constantinople, 1203-1204: A Damage Assessment,” Byzantinische Zeitschrift 84/85 (1992): 72-93.
  • “The Serpent Column of Delphi in Constantinople: Placement, Purposes, and Mutilations,” Byzantine and Modern Greek Studies 16 (1992): 111-45.

Recorded lectures

History Channel documentaries

Notes

  1. Jump up^ Townsend, Tim (December 1, 2007). “Louis IX’s spirit of charity lives on in work of a city church”. St. Louis Post-Dispatch.
  2. Jump up^ Thompson, Bob (May 9, 2005). “How Muslims View the Crusades”. Washington Post.
  3. Jump up^ Mahoney, Dennis M. (May 6, 2005). “New view of Crusades abandons simple stereotypes”. Columbus Dispatch.
  4. Jump up^ Derbyshire, John (November 25, 2001). “For all their crimes, medieval Crusaders were our spiritual kin”. Star-Tribune (Minneapolis).
  5. Jump up^ Davis, Bob (September 23, 2001). “A war that began 1,000 years ago”. Fort Worth Star-Telegram.
  6. Jump up^ Media | Thomas F. Madden
  7. Jump up^ http://sscle.slu.edu/
  8. Jump up^ Annual Symposium on Medieval and Renaissance Studies
  9. ^ Jump up to:a b WMU News – Grundler Prize awarded for book on Venetian leader
  10. ^ Jump up to:a b MAA Haskins Medal Winner
  11. Jump up^ Fellow of the Medieval Academy of America
  12. Jump up^ [1]
  13. Jump up^ Madden, Thomas F. (November 2, 2001). “Crusade Propaganda”. National Review. Retrieved 2007-12-03.
  14. Jump up^ Johns Hopkins University Press | Books | Enrico Dandolo and the Rise of Venice

References

https://en.wikipedia.org/wiki/Thomas_Madden

Chalmers Johnson

From Wikipedia, the free encyclopedia
Chalmers Johnson
Born August 6, 1931
Phoenix, Arizona
Died November 20, 2010 (aged 79)
Cardiff-by-the-Sea, California
Occupation President, Japan Policy Research Institute, University of San Francisco; Professor emeritus of the University of California, San Diego
Genre Political Science
Literary movement Japan revisionists
Notable works Peasant Nationalism and Communist Power
MITI and the Japanese Miracle
Blowback
The Sorrows of Empire
Nemesis: The Last Days of the American Republic
Notable awards Before Columbus Foundation(2001)
Website
www.americanempireproject.com/johnson/index.asp

Chalmers Ashby Johnson (August 6, 1931 – November 20, 2010)[1] was an American author and professor emeritus of the University of California, San Diego. He served in the Korean War, was a consultant for the CIAfrom 1967 to 1973, and chaired the Center for Chinese Studies at the University of California, Berkeley from 1967 to 1972.[2] He was also president and co-founder with Steven Clemons of the Japan Policy Research Institute (now based at the University of San Francisco), an organization promoting public education about Japan and Asia.[3]

He wrote numerous books including, most recently, three examinations of the consequences of American Empire: Blowback, The Sorrows of Empire, and Nemesis: The Last Days of the American Republic. A former cold warrior, his fears for the US changed:

“A nation can be one or the other, a democracy or an imperialist, but it can’t be both. If it sticks to imperialism, it will, like the old Roman Republic, on which so much of our system was modeled, lose its democracy to a domestic dictatorship.”[4]

Biography

Johnson was born in 1931 in Phoenix, Arizona. He earned a BA in economics in 1953 and an M.A. and a Ph.D. in political science in 1957 and 1961 respectively. Both of his advanced degrees were from the University of California, Berkeley. Johnson met his wife Sheila, a junior at Berkeley, in 1956, and they were married in Reno, Nevada in May 1957.[5]

During the Korean War, Johnson served as a naval officer in Japan.[6] He was the communications officer on a ship (the LST 883) “tasked with ferrying Chinese prisoners of war from South Korea back to North Koreanports.”[5] He taught political science at the University of California from 1962 until he retired from teaching in 1992. He was best known early in his career for his scholarship on the subjects of China and Japan.[7]

Johnson set the agenda for 10 or 15 years in social science scholarship on China with his book on peasant nationalism. His book MITI and the Japanese Miracle, on the Japanese Ministry of International Trade and Industry was the preëminent study of the country’s development and it created the subfield of what could be called, the political economy of development. He coined the term “developmental state“. As a public intellectual, he first led the “Japan revisionists” who critiqued American neoliberal economics with Japan as a model; their arguments faded from view as the Japanese economy stagnated in the mid-90s and beyond. During this period, Johnson acted as a consultant for the Office of National Estimates, part of the CIA, contributing to analysis of China and Maoism.[8]

Johnson was elected a Fellow of the American Academy of Arts and Sciences in 1976. He served as Director of the Center for Chinese Studies (1967–72[2]) and Chair of the Political Science Department at Berkeley, and held a number of important academic posts in area studies. He was a strong believer in the importance of language and historical training for conducting serious research. Late in his career he became well known as a critic of “rational choice” approaches, particularly in the study of Japanese politics and political economy.

Johnson is, perhaps, best known today as a sharp critic of American imperialism. His book Blowback (2000) won a prize in 2001 from the Before Columbus Foundation, and was re-issued in an updated version in 2004. Sorrows of Empire, published in 2004, updated the evidence and argument from Blowback for the post-9/11 environment, and Nemesis concludes the trilogy. Johnson was featured as an expert talking head in the Eugene Jarecki-directed film Why We Fight,[3] which won the 2005 Grand Jury Prize at theSundance Film Festival. In the past, Johnson has also written for the Los Angeles Times, the London Review of Books, Harper’s Magazine, and The Nation.

The Blowback series

Johnson believed that the enforcement of American hegemony over the world constitutes a new form of global empire. Whereas traditional empires maintained control over subject peoples via colonies, since World War II the US has developed a vast system of hundreds of military bases around the world where it has strategic interests. A long-time Cold Warrior, he applauded the dissolution of the Soviet Union: “I was a cold warrior. There’s no doubt about that. I believed the Soviet Union was a genuine menace. I still think so.”[9] At the same time, however, he experienced a political awakening after the dissolution of the Soviet Union, noting that instead of demobilizing its armed forces, the US accelerated its reliance on military solutions to problems both economic and political. The result of this militarism (as distinct from actual domestic defense) is more terrorism against the U.S. and its allies, the loss of core democratic values at home, and an eventual disaster for the American economy. Of four books he wrote on this topic, the first three are referred to as The Blowback Trilogy:

  • Blowback: The Costs and Consequences of American Empire

Chalmers Johnson summarized the intent of Blowback in the final chapter of Nemesis.

“In Blowback, I set out to explain why we are hated around the world. The concept “blowback” does not just mean retaliation for things our government has done to and in foreign countries. It refers to retaliation for the numerous illegal operations we have carried out abroad that were kept totally secret from the American public. This means that when the retaliation comes – as it did so spectacularly on September 11, 2001 – the American public is unable to put the events in context. So they tend to support acts intended to lash out against the perpetrators, thereby most commonly preparing the ground for yet another cycle of blowback. In the first book in this trilogy, I tried to provide some of the historical background for understanding the dilemmas we as a nation confront today, although I focused more on Asia – the area of my academic training – than on the Middle East.”[10]
  • The Sorrows of Empire: Militarism, Secrecy, and the End of the Republic

Chalmers Johnson summarizes the intent of The Sorrows of Empire in the final chapter of Nemesis.

The Sorrows of Empire was written during the American preparations for and launching of the invasions and occupations of Afghanistan and Iraq. I began to study our continuous military buildup since World War II and the 737 military bases we currently maintain in other people’s countries. This empire of bases is the concrete manifestation of our global hegemony, and many of the blowback-inducing wars we have conducted had as their true purpose the sustaining and expanding of this network. We do not think of these overseas deployments as a form of empire; in fact, most Americans do not give them any thought at all until something truly shocking, such as the treatment of prisoners at Guantanamo Bay, brings them to our attention. But the people living next door to these bases and dealing with the swaggering soldiers who brawl and sometimes rape their women certainly think of them as imperial enclaves, just as the people of ancient Iberia or nineteenth-century India knew that they were victims of foreign colonization.”[10]
  • Nemesis: The Last Days of the American Republic

Chalmers Johnson summarizes the intent of the book Nemesis.

“In Nemesis, I have tried to present historical, political, economic, and philosophical evidence of where our current behavior is likely to lead. Specifically, I believe that to maintain our empire abroad requires resources and commitments that will inevitably undercut our domestic democracy and in the end produce a military dictatorship or its civilian equivalent. The founders of our nation understood this well and tried to create a form of government – a republic – that would prevent this from occurring. But the combination of huge standing armies, almost continuous wars, military Keynesianism, and ruinous military expenses have destroyed our republican structure in favor of an imperial presidency. We are on the cusp of losing our democracy for the sake of keeping our empire. Once a nation is started down that path, the dynamics that apply to all empires come into play – isolation, overstretch, the uniting of forces opposed to imperialism, and bankruptcy. Nemesis stalks our life as a free nation.”[10]
  • Dismantling the Empire: America’s Last Best Hope

Johnson outlines how the United States can reverse American hegemony and preserve the American state. Dismantling the Empire was listed by the CIA in “The Intelligence Officer’s Bookshelf: Intelligence in Recent Public Literature”,[11] compiled and reviewed by Hayden B. Peake.[12]

Audio and video

Bibliography

Death

On November 20, 2010, Chalmers Johnson died after a long illness from complications of rheumatoid arthritis at his home in Cardiff-by-the-Sea. [14]

Notes

  1. Jump up^http://www.theatlantic.com/international/archive/2010/11/chalmers-johnson/66853/
  2. ^ Jump up to:a b “CCS History”, Center for Chinese Studies, Institute of East Asian Studies, University of California, Berkeley
  3. ^ Jump up to:a b AMY GOODMAN (February 27, 2007). “Chalmers Johnson: Nemesis: The Last Days of the American Republic”.Democracy Now!. Retrieved 2009-04-04.
  4. Jump up^ Chalmers Johnson, 1931–2010, on the Last Days of the American Republic
  5. ^ Jump up to:a b Sheila K. Johnson (2011-04-11) Chalmers Johnson vs. the Empire, Antiwar.com
  6. Jump up^ Chalmers Ashby Johnson. Blowback, Second Edition: The Costs and Consequences of American Empire (January 4, 2004 ed.). Holt Paperbacks. p. 288. ISBN 0-8050-7559-3.
  7. Jump up^ Johnston, Eric, “Japan hand Chalmers Johnson dead at 79“,Japan Times, 23 November 2010, p. 2.
  8. Jump up^ Nic Paget-Clarke (2004). “Interview with Chalmers Johnson Part 2. From CIA Analyst to Best-Selling Scholar”. In Motion Magazine. Retrieved 2009-04-04.
  9. Jump up^ Tom Engelhardt (March 22, 2006). “Cold Warrior in a Strange Land – Tom Engelhardt interviews Chalmers Johnson”. antiwar.com. Retrieved 2009-04-04.
  10. ^ Jump up to:a b c Nemesis: The Last Days of the American Republic By Chalmers Johnson, 2006, Page 278, ISBN 978-0-8050-7911-1
  11. Jump up^ https://www.cia.gov/library/center-for-the-study-of-intelligence/csi-publications/csi-studies/studies/vol.-55-no.-1/the-intelligence-officers-bookshelf.html
  12. Jump up^ https://www.cia.gov/library/center-for-the-study-of-intelligence/csi-publications/csi-studies/studies/vol50no4/contributors.html
  13. Jump up^ Listing on Allrovi.com
  14. Jump up^ Shapiro, T. Rees (November 25, 2010). “Renowned Asia scholar Chalmers Johnson dies at 79”. The Washington Post.

External links

https://en.wikipedia.org/wiki/Chalmers_Johnson

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12 Dallas Police Officers Shot In Ambush Assassination with 5 Killed –Shooter Killed By Robot With Explosive Device — Black Lives Matters Provoking Black Racism — Lying Lunatic Left — Dallas Police Chief Brown, Former President George W. Bush and President Barack Obama Speech at Dallas Memorial Service Honoring Police Officers — Videos

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Story 1: 12 Dallas Police Officers Shot In Ambush Assassination  with 5 Killed  –Shooter Killed By Robot With Explosive Device — Black Lives Matters Provoking Black Racism — Lying Lunatic Left — Dallas Police Chief Brown, Former President George W. Bush and President Barack Obama Speech at Dallas Memorial Service Honoring Police Officers — Videos

long shotdallas-memorial-071226group picturefive slain victims

DALLAS, TX - JULY 12: Police officers arrive at an interfaith memorial service, honoring five slain police officers, at the Morton H. Meyerson Symphony Center on July 12, 2016 in Dallas, Texas. A sniper opend fire following a Black Lives Matter march in Dallas killing five police officers and injuring 12 others. (Photo by Tom Pennington/Getty Images)

DALLAS, TX – JULY 12: Police officers arrive at an interfaith memorial service, honoring five slain police officers, at the Morton H. Meyerson Symphony Center on July 12, 2016 in Dallas, Texas. A sniper opend fire following a Black Lives Matter march in Dallas killing five police officers and injuring 12 others. (Photo by Tom Pennington/Getty Images)

flags on seats160712131731-slain-dallas-officers-large-169Obama_Police_Shootings.barack obamaObama-Bush-Dallas-police-chief-others-salute-fallen-officers-at-memorial-servicebush-obama-dallas-memorial-2016 candles dallas police officer with candledart and dallas police cars.jpg1224972-woman-places-flowers-at-memorialAPTOPIX-Police-Shootings-Protests-Dallas-5DPD-memorial-signdallas car headquarters police are flowerspolice officers car flowersflowers support of police police and child

city of dallas map cops bank of americacar

A Police officer stands guard at a baracade following the sniper shooting in Dallas on July 7, 2016. A fourth police officer was killed and two suspected snipers were in custody after a protest late Thursday against police brutality in Dallas, authorities said. One suspect had turned himself in and another who was in a shootout with SWAT officers was also in custody, the Dallas Police Department tweeted. / AFP / Laura Buckman (Photo credit should read LAURA BUCKMAN/AFP/Getty Images)

A Police officer stands guard at a baracade following the sniper shooting in Dallas on July 7, 2016.

police cars in dallas

david-brown-prsser-cu

545521786-dallas-mayor-mike-rawlings-looks-on-during-a-press.jpg.CROP.promovar-mediumlargeKNXV Dallas Police Department Generic

DALLAS, TX - JULY 8: Flags fly at half mast at Dallas City Hall following the fatal shootings of five police officers on July 8, 2016 in Dallas, Texas. Micah Xavier Johnson has been identified as the suspected sniper in the fatal shooting of five police officers, and injuring seven more at a Black Lives Matter demonstration held on July 7, 2016 in Dallas, Texas. Stewart F. House/Getty Images/AFP

DALLAS, TX – JULY 8: Flags fly at half mast at Dallas City Hall following the fatal shootings of five police officers on July 8, 2016 in Dallas, Texas. Micah Xavier Johnson has been identified as the suspected sniper in the fatal shooting of five police officers, and injuring seven more at a Black Lives Matter demonstration held on July 7, 2016 in Dallas, Texas. Stewart F. House/Getty Images/AFP

Obama: ‘We are one American family

President Obama calls for unity as 5 slain Dallas police officers remembered

FULL SPEECH George W Bush Dallas Memorial Service July 12, 2016

Dallas Police Chief Brown speaks at Dallas police memorial service

Paul Ryan gives statement about police officers killed in Dallas

Dallas PD Chief Opens Up About Burdens on Laws Enforcement ‘We’re Asking Cops to Do Too Much’

Police Chief reveals the impact of Dallas cop killings

Dallas Black Lives Matter Protest Police Murders Chief David O. Brown Kill White People

Dallas Police Chief: ‘We are Hurting’

FNN: Dallas Police Chief Calls Out “Irresponsible” Reporters Who Claimed Shots Fired at Police HQ

Dallas Police chief says gunman wanted to “kill white people”

Memorial Grows for Fallen Dallas Officers

DART officer killed in Dallas sniper attack identified

O’Reilly: ‘Martin Luther King Would Not Participate In A Black Lives Matter Protest’

Bill O’Reilly Scolds Racial Provocateurs Calls Black Lives Matter Hate America Group – 7/8/16

Murdering cops in Dallas

The Truth About The Alton Sterling and Philando Castile Shootings

The Truth About Michael Brown and the Ferguson Riots

Michael Bautista captured part of downtown Dallas shooting during Facebook Live

Eyewitness video of downtown Dallas shooting

Mayor Mike Rawlings on robot

Shooting at Protest In Dallas Texas

Culprits Behind Dallas Police Massacre Revealed

Secrets Of Black Lives Matter Dallas Police Massacre Revealed

Rudy Giuliani: When You Say Black Lives Matter, It’s Inherently Racist

Obama/Soros Behind Black Lives Matter Massacre of Police

George Soros, Puppet Master

O’Reilly Scolds Racial ‘Provocateurs,’ Calls Black Lives Matter a ‘Hate America Group’

Video: 5 officers killed in ambush at Dallas protest

Dallas police shooting: 5 officers killed by snipers during anti-cop violence rally

DALLAS SHOOTING: 5 Police Officers killed, 6 injured at Black Lives Matter Protest, On-Scene Footage

Dallas Police Shooting: 11 Officers Shot, 5 Killed | True News

Dallas Shooting: 5 Police Officers Dead, More Injured

Full speech Obama comments on the 

Lester Holt’s interview with Hillary Clinton on Dallas police shooting and emails

sors

Who is George Soros, and Why Does Hillary Clinton Praise Him?

Emails Show Clinton Worked With George Soros To Run Shadow Gov’t

Bill Clinton Admits Hillary-Soros Connection

RWW News: Glenn Beck Reveals George Soros’ Plot To Make Hillary Clinton President

George Soros Exposed – Puppet master Glenn Beck

Bill O’Reilly – George Soros – Black Lives Matter

Soros Revelations in His Own Words

Black Lives Matter Boss Is An Old White Nazi Worth Billions

Ben Shapiro: Do Black Lives Matter to Black Lives Matter?

George Soros’s Race War Plans Revealed

Roy Masters Calls Out George Soros – Sunday Conversations With Roy Masters (Clip)

Roy Masters Calls Out George Soros | Sunday Conversations

America: Civil War Is Coming – Roy Masters

South Park Parody of Police Brutality and White Privilege – Scout’s Honor

Black Lives Matter Threaten Violence Against Whites Who Vote Trump

Megyn Kelly CONFRONTS #BLACKLIVESMATTER Activist Over RACIST Video THREATENINGTo KILL “CRACKAS”

Megyn Kelly’s Response to a ‘#BlackLivesMatter’ Activist Had Viewers Calling it ‘A Thing of Beauty’

Negro Slaves And Black Lives Matter Is Sponsored By George Soros

Armed Black Militants Prep for War

Armed Black Panthers Declare War On Texas Cops

The About ‘Black Lives Matter’ || Louder With Crowder

ZoNation: Black Lives Matter, So They Should Vote Republican

PJTV: ZoNation: Liberals and Democrats Are Racist, Not Republicans!

Obama meets with Black Lives Matter leaders

The Worst of Black Lives Matter

Sheriff Clarke on “Black Lives Matter”: “It’s a vile vulgar slimy movement”

Black Lives Matter, Racism: A Conservative Perspective (Larry Elder Interview)

Obama Holds Klansmen Meeting in White House w/ Hate Leaders NAACP & #BlackLivesMatter

Obama On Police Killing Philando Castile And Alton Sterling

Another black person shoots another cop, this time in Ballwin

MN Governor On Philando Castile – Full News Conference

Philando Castile FULL Press Conference 7/7/16

Minnesota officer kills Black man

Police shoot black man in Minnesota (7/6/16) (OurBlackNews-MN)

Louisiana Cop Shooting Alton Sterling CAUGHT On Camera-Why Always BLACK?!!!!

Baton Rouge Police under Investigation for the Shooting of an Armed Black Male

Video: Protests break out after Louisiana fatal police shooting

Lone Gunman Laughed, Sang During Standoff: Sources

Micah Xavier Johnson was killed by an explosive device attached to a robot after talks broke down. He was laughing and singing and not at all anxious during the standoff, a source said.

A North Texas Army veteran has been identified as the lone gunman responsible for the sniper attacks that killed five police officers and injured seven others in Dallas, authorities say.

Micah Xavier Johnson, of Mesquite, ambushed officers at a peaceful protest against nationwide police-involved shootings in Dallas on Thursday, police said.

The investigation into Johnson’s attack is still ongoing, and much remains is still unknown. But a picture is beginning to emerge of what went on inside the standoff — a source tells NBC Investigates that the 25-year-old was wounded by gunfire before being killed by a robot outfitted with a bomb — and how he prepared for the deadly assault.

LONE GUNMAN
Dallas Mayor Mike Rawlings confirmed Friday what multiple senior U.S. law enforcement officials had told NBC News Friday afternoon: Micah Xavier Johnson was the lone gunman in the rampage.

Police Search Micah Xavier Johnson’s Home

[DFW] Police Search Micah Xavier Johnson's Home

Dallas police searched the home Friday where shooting suspect Micah Xavier Johnson lived in North Texas. (Published Friday, July 8, 2016)

“This was a mobile shooter that had written manifestos on how to shoot and move, shoot and move, and he did that. He did his damage,” Rawlings said.

Officials told NBC News the investigation so far has yielded no additional suspects that may have played a role in the shooting. Texas Gov. Greg Abbott said Friday that there is no information about additional co-conspirators, but if any are found, they will be brought to justice.

Sources tell NBC News they have found no ties between Johnson and any extremist groups so far.

“We believe now, that the city is safe,” Rawlings said. “The suspect is dead, and we can move on to healing.”

We believe now, that the city is safe. The suspect is dead and we can move on to healing.

Dallas Mayor Mike Rawlings

INSIDE THE STANDOFF
Johnson was laughing and singing and not at all anxious during the standoff at the El Centro College building, a law enforcement source with knowledge of the incident told NBC 5 Investigates senior reporter Scott Friedman.

Johnson told police he had specifically been training for this event and working out in preparation for Thursday night. NBC 5 Investigates has also learned Johnson was wearing a military-style bulletproof vest.

Johnson told police he spent time in the military and was carrying a military-style rifle.

Johnson was hit by gunfire before going into the El Centro college building and that officers followed Johnson’s blood trail into the building, according to a law enforcement source.

Officers found him on the second floor, and then fired more rounds through a wall, apparently hitting Johnson again and wounding him.

After that, the negotiations began and spanned several hours. Johnson threatened many times to charge the officers, according to the source.

Johnson at first said that he only wanted to talk to black police officers – he said he didn’t want to have anything to do with white people. He shared police conspiracies and his dislike for police officers, a law enforcement source said.

Officers cornered Johnson and negotiated with him for hours before talks broke down, police said.

Army Veteran Identified As a Gunman in Dallas Protest Shootings

[DFW] Army Veteran Identified As a Gunman in Dallas Protest Shootings

A law enforcement source describes Micah Xavier Johnson’s behavior Thursday as cold and unafraid, saying he was laughing and singing during the hours-long standoff with police. (Published Friday, July 8, 2016)

Dallas Police Chief David Brown said Johnson told officers he was upset about recent shootings involving police and “wanted to kill white people, especially white officers.”

After an exchange of gunfire, officers attached an explosive device to a bomb robot and detonated it near Johnson, killing him, Brown said.

A police source tells NBC 5 Investigates that the robot carried 3/4 of a pound of C-4, a plastic explosive. The robot reportedly suffered some damage but may not be a total loss.

The decision on how much to use was made by Dallas SWAT officers trained in explosives along with ATF experts on the scene.

Reporter Recounts Experience After Shots Were Fired

[DFW] Reporter Recounts Experience After Shots Were Fired

(Published Friday, July 8, 2016)

A law enforcement source told Friedman on a scale of 1 to 10 this situation was a 30.

MILITARY HISTORY

The Army said Johnson served in the Army Reserve and did one tour of duty in Afghanistan, from November 2013 to July 2014.

Johnson was a private first class and his military occupational specialty was carpentry and masonry.

His service dates, as provided by the Army, were March 2009 to April 2015.

Dallas police said Johnson has no criminal history.

During a search of his home Friday, detectives found bomb making materials, ballistic vests, rifles, ammunition and a personal journal of combat tactics, police said.

Lone Gunman Laughed, Sang During Standoff: Sources | NBC 5 Dallas-Fort Worth

http://www.nbcdfw.com/news/local/Dallas-Police-Identify-Gunman-in-Dallas-Protest-Shootings-386015971.html#ixzz4DvwXgqSv

 

Dallas shooting victims: three police officers identified as colleagues mourn

Tributes pour in for transit officer Brent Thompson, who was recently married, and Dallas police officers Patrick Zamarripa and Michael Krol

victoms
From left to right: Michael Krol, Patrick Zamarripa and Brent Thompson.

The identities of three of the five officers who died in the mass shooting that targeted police in Dallas emerged on Friday morning, as family, friends and the public paid tribute.

They include a newlywed transit officer, a Dallas police department officer who had expressed love for his job and his country, and a Detroit-area native whose family said it was his life’s dream to become an officer. Seven other officers were injured as sniper fire broke out while police were patrolling a peaceful protest in Dallas on Thursday evening organized to demonstrate against the police shooting deaths of Philando Castile in Minnesota and Alton Sterling in Louisiana earlier this week.
Dallas police shootings: what we know so far

Brent Thompson

Brent Thompson, 43, was killed in the gunfire and was the first officer of the Dallas area rapid transit (Dart) division to be killed in the line of duty since the department was established in 1989. The force provides law enforcement on the city’s bus, light rail, commuter rail and high-occupancy road lanes in a transit system serving Dallas and 12 suburbs in the greater metropolis.

Thompson joined the division in 2009. The Dart chief, James Spiller, said: “He was an outstanding patrol officer as well as a rail officer.”

Thompson married a fellow Dart officer just last month, said Spiller on NBC Today.

“He was recently married in the last two weeks, so this is very heartbreaking. We will definitely miss him, and we are also making sure his family is taken care of,” he said.

A statement from Dart said: “Our hearts are broken.”

A picture was posted on Twitter of Thompson with his grandson.

Before joining the mass transit police, Thompson worked with US police officers in Iraq and Afghanistan for the military contractor Dyncorp, according to his LinkedIn page.

Patrick Zamarripa
Tributes were posted on social media for the Dallas police department officer Patrick Zamarripa, 32, on Friday morning, with a family member sharing a picture of the officer with his father.

One post from his stepbrother, Dylan Martinez, read: “No father should have to bury his son. You are a hero, Patrick. Love you man.…”

Patrick Zamarripa

Patrick Zamarripa. Photograph: @KDylanMartinez/Twitter
He was described as a family man and a military veteran who had survived three tours in Iraq, according to the Washington Post.

On Zamarripa’s Twitter page, he had written: “Addicted to the thrill of this job. I own the night. I love my Country, Texas, Family, God, Friends, and Sports! Don’t Tread on Me! ’Merica.”

On the Fourth of July, Zamarripa posted a patriotic tweet, saying: “Happy Birthday to the greatest country on the face of this planet. My beloved America!”

He had also tweeted about getting ready to police a recent rally for Donald Trump in Dallas and posted in support of the victims of the mass shooting at the gay nightclub Pulse, in Orlando.

He has been hailed as a hero on social media.

 

Michael Krol

Michael Krol, 40, became an officer in the Dallas police department in 2007 after previously working in his local county jail system in Michigan.

Krol worked for the Wayne County sheriff’s office in the county jail system from 2003-2007, according to a statement.

His uncle, Jim Ehlke, told WDVI his nephew had a passion for helping people and that being an officer was his life dream.

“He got into law enforcement and worked really hard to be a police officer. He spent some time at the correctional facility. It wasn’t quite what he was looking for, so he worked pretty hard to find a job and got one in Dallas,” Ehlke said. “He was all in, he was all in.”
“He knew the danger of the job but he never shied away from his duty as a police officer,” Krol’s mother, Susan Ehlke, told WXYZ. “He was a great, caring person and wanted to help people. A wonderful son, brother, uncle, nephew and friend.”

He lived in the Dallas-Fort Worth area with his girlfriend, ABC also reported.

The Wayne County sheriff’s office issued a statement on Friday morning.

“We are saddened by the loss of the dedicated officers in Dallas – one of whom was a former member of this agency – and also the wounding of the other officers,” said sheriff Benny Napoleon . “Those officers made the ultimate sacrifice and died honoring their oaths to protect and serve. Our thoughts and prayers go out to their families and also the Dallas police department,” he added.

The other victims are believed to be Dallas police officers, but they have not yet been identified.

https://www.theguardian.com/us-news/2016/jul/08/dallas-protest-shooting-police-victims-named-brent-thompson-patrick-zamarripa

Army Veteran Identified As a Gunman in Dallas Protest Shootings

Micah Xavier Johnson was killed by an explosive device attached to a robot after talks broke down. He was laughing and singing and not at all anxious during the standoff, a source said.

A North Texas Army veteran has been identified as the lone gunman responsible for the sniper attacks that killed five police officers and injured seven others in Dallas, authorities say.

Micah Xavier Johnson, of Mesquite, ambushed officers at a peaceful protest against nationwide police-involved shootings in Dallas on Thursday, police said.

The investigation into Johnson’s attack is still ongoing, and much remains is still unknown. But a picture is beginning to emerge of what went on inside the standoff — a source tells NBC Investigates that the 25-year-old was wounded by gunfire before being killed by a robot outfitted with a bomb — and how he prepared for the deadly assault.

LONE GUNMAN
Dallas Mayor Mike Rawlings confirmed Friday what multiple senior U.S. law enforcement officials had told NBC News Friday afternoon: Micah Xavier Johnson was the lone gunman in the rampage.

We believe now, that the city is safe. The suspect is dead and we can move on to healing.

Dallas Mayor Mike Rawlings

“This was a mobile shooter that had written manifestos on how to shoot and move, shoot and move, and he did that. He did his damage,” Rawlings said.

Officials told NBC News the investigation so far has yielded no additional suspects that may have played a role in the shooting. Texas Gov. Greg Abbott said Friday that there is no information about additional co-conspirators, but if any are found, they will be brought to justice.

Sources tell NBC News they have found no ties between Johnson and any extremist groups so far.

“We believe now, that the city is safe,” Rawlings said. “The suspect is dead, and we can move on to healing.”

Dallas Shooter Laughed, Sang During Standoff: Source

[DFW]Dallas Shooter Laughed, Sang During Standoff: Source

A North Texas Army veteran has been identified as a gunman responsible for the sniper attacks that killed five police officers and injured seven others in Dallas, according to authorities. According to a law enforcement source, Micah Xavier Johnson laughed and sang during an hours-long standoff with police. (Published 3 hours ago)

INSIDE THE STANDOFF
Johnson was laughing and singing and not at all anxious during the standoff at the El Centro College building, a law enforcement source with knowledge of the incident told NBC 5 Investigates senior reporter Scott Friedman.

Johnson told police he had specifically been training for this event and working out in preparation for Thursday night. NBC 5 Investigates has also learned Johnson was wearing a military-style bulletproof vest.

Johnson told police he spent time in the military and was carrying a military-style rifle.

Johnson was hit by gunfire before going into the El Centro college building and that officers followed Johnson’s blood trail into the building, according to a law enforcement source.

Officers found him on the second floor, and then fired more rounds through a wall, apparently hitting Johnson again and wounding him.

After that, the negotiations began and spanned several hours. Johnson threatened many times to charge the officers, according to the source.

Johnson at first said that he only wanted to talk to black police officers – he said he didn’t want to have anything to do with white people. He shared police conspiracies and his dislike for police officers, a law enforcement source said.

Officers cornered Johnson and negotiated with him for hours before talks broke down, police said.

Dallas Police Chief, Mayor 7:30 A.M. Update (Raw Video)

[DFW] Dallas Police Chief, Mayor 7:30 A.M. Update (Raw Video)

Dallas Police Chief David Brown and Mayor Mike Rawlings provided a 7:30 a.m. update on the shootings in downtown Dallas. “It has been a long, long morning,” said Mike Rawlings, mayor of Dallas. Here is the full 17-minutes of remarks with what was known at the time, including the use of a robot bomb used to kill the suspect. (Published Friday, July 8, 2016)

Dallas Police Chief David Brown said Johnson told officers he was upset about recent shootings involving police and “wanted to kill white people, especially white officers.”

After an exchange of gunfire, officers attached an explosive device to a bomb robot and detonated it near Johnson, killing him, Brown said.

A law enforcement source told Friedman on a scale of 1 to 10 this situation was a 30.

MILITARY HISTORY

AG Lynch: ‘The Answer Is Never Violence’

[NATL] Attorney General: 'The Answer Is Never Violence'

Attorney General Loretta Lynch denounced the sniper attack that killed five police officers in Dallas on Thursday, urging people to reflect on “the country that we want to build and the kind of society that we are choosing to pass on to our children.” (Published 3 hours ago)

The Army said Johnson served in the Army Reserve and did one tour of duty in Afghanistan, from November 2013 to July 2014.

Johnson was a private first class and his military occupational specialty was carpentry and masonry.

His service dates, as provided by the Army, were March 2009 to April 2015.

Dallas police said Johnson has no criminal history.

During a search of his home Friday, detectives found bomb making materials, ballistic vests, rifles, ammunition and a personal journal of combat tactics, police said.


 

http://www.nbcdfw.com/news/local/Dallas-Police-Identify-Gunman-in-Dallas-Protest-Shootings-386015971.html

What we know – and what we don’t know – about the Dallas protest shooting

What we know

  • Five police officers have been killed and at least seven more injured after shots were fired during an anti-violence protest in Dallas, Texas, on Thursday evening.
  • Three officers have been identified. One of the dead officers has been named as Brent Thompson, 43 – the first Dart (transit) officer to be killed in the line of duty. Another was identified by his family as officer Patrick Zamarripa. Michael Krol, a native of Detroit who joined the Dallas police department in 2007, was named on Friday.
https://interactive.guim.co.uk/uploader/embed/2016/07/dallas_aerial/giv-12515klE9qBu6X4vR/
  • Barack Obama condemned the killings as “a vicious, calculated and despicable attack on law enforcement”. Speaking in Warsaw, where he is attending a two-day Nato summit, Obama again called for gun control. “When people are armed with powerful weapons unfortunately it makes attacks like these more deadly and more tragic,” he said.
  • Three people have been detained by police: a woman who was stopped close to the garage, plus two people who were stopped in a dark Mercedes.
  • A fourth suspect was identified as Micah Johnson, 25, a Texas law enforcement official told the AP. Johnson died after an armed standoff with police on a second floor parking lot close to El Centro College. The mayor of Dallas, Mike Rawlings, said he did not know how the man died or what weapons had been found on him, but that police had used explosives to “blast him out”. Johnson said he wanted to “kill white people, especially white officers”, according to Dallas police chief David Brown. During hours of negotiations with police, Johnson said he was unaffiliated with any groups and “did this alone”. Brown said the suspect was upset about Black Lives Matter, the recent shootings and white people.
  • Johnson was a US army reservist and veteran of the Afghanistan war, the US army has confirmed. He had no known criminal record or ties to terrorism, a law enforcement official told CNN.
  • A police robot was used to kill Johnson. Dallas police used a bomb-disposal robot with an explosive device on its manipulator arm. Experts believe it was the first time a lethally armed robot has been used by police.
  • No bombs were found after two police searches. Major Max Geron of Dallaspolice tweeted: “Primary and secondary sweeps for explosives are complete and no explosives found.”
  • One civilian was also wounded: Shetamia Taylor, who was attending the protest with her sons, was shot in the leg but her injuries are not thought to be life-threatening.
  • Mark Hughes, who mistakenly became a suspect after being pictured holding a long rifle in a photo circulated by the police department, has been released after turning himself in. “I could easily have been shot,” he told CBS, adding that he was not satisfied with a police apology after getting death threats on social media.

What we don’t know

  • The motive for the killing. The shootings came at the end of a peaceful Black Lives Matter protest sparked by the killing of two black men by police officers in separate incidents earlier this week. Obama said: “We will learn more about their twisted motivations, but let’s be clear; there is no possible justification for these kinds of attacks or any violence against law enforcement.”
  • How many shooters were involved? At least one shooter opened fire from an elevated position. It is unclear whether more than one opened fire.
  • Whether the suspects worked together to launch the attack. Johnson told police that he “did this alone”. Brown later told a crowd at an interfaith vigil that the attack, “was a well planned, well thought out, evil tragedy by these suspects, and we won’t rest until we bring everyone involved to justice.”
  • The names of two victims. Three officers have been identified.

https://www.theguardian.com/us-news/2016/jul/08/dallas-shootings-what-we-know-so-far

Lynch to Dallas protesters: ‘Do not be discouraged’

Attorney General Loretta Lynch on Friday encouraged protesters not to allow the “heinous violence” that occurred in Dallas to silence their “important” voices.
Five police officers died and seven more were wounded in an ambush during a peaceful rally in Dallas on Thursday to protest the deaths of black men in Louisiana and Minnesota who were shot dead by police this week. Two civilians were also injured Thursday.
Story Continued Below

Lynch stressed that she is “deeply grateful” to law enforcement’s commitment to difficult and dangerous work to keep America safe but vowed that the Justice Department would do all it can to help. And she urged peaceful protesters not to give up.

“I want you to know that your voice is important,” Lynch said Friday during a news conference at the Justice Department. “Do not be discouraged by those who would use your lawful actions as cover for their heinous violence. We will continue to safeguard your constitutional rights and to work with you in the difficult mission of building a better nation and a brighter future.”
Lynch announced that the Justice Department will offer assistance to local law enforcement in Dallas, a city she described as a community “severely shaken and deeply scarred by an unfathomable tragedy.” She said DOJ and the agencies within it, including the FBI and U.S. Attorney’s Office, will work alongside state and local officials there.
“We intend to provide any assistance we can to investigate this attack and also to help heal a community that has been severely shaken and deeply scarred by an unfathomable tragedy,” she said. “This is an unfolding situation. We will be providing additional information when it is available and appropriate. But more so, this has been a week of profound grief and heartbreaking loss.”
Thursday’s protest was held in the wake of the fatal shootings of Alton Sterling, a 37-year-old whose death outside a Baton Rouge convenience store was captured on video, and Philando Castile, a 32-year-old whose fiancée filmed the aftermath of his death via Facebook live in Falcon Heights.
The Justice Department has opened a civil rights investigation into the Louisiana encounter, and Lynch said DOJ will offer assistance to local officials leading the investigation in Minnesota.

Lynch mourned the “devastating loss” of the slain officers and empathized with the sentiments of much of the country, as Americans try to cope with the back-to-back police-involved killings this week that each gained national attention.
“Americans across our county are feeling a sense of helplessness, of uncertainty and of fear,” Lynch said. “And these feelings are understandable, and they are justified. But the answer must not be violence. The answer is never violence.”
The answer, Lynch maintained, is action — “calm, peaceful, collaborative and determined action,” she said. “We must continue working to build trust between communities and law enforcement. We must continue working to guarantee every person in this country equal justice under the law. And we must take a hard look at the ease with which wrongdoers can get their hands on deadly weapons and the frequency with which they use them.”
The DOJ chief called on Americans to consider what kind of country they want to pass on to future generations and to shun divisive impulses.
“We must reflect on the kind of country that we want to build and the kind of society that we are choosing to pass on to our children,” Lynch said. “And above all, we must reject the easy impulses of bitterness and rancor and embrace the difficult work — but the important work, the vital work — of finding a path forward together. And above everything, we must remind ourselves that we are all Americans, and that as Americans, we share not just a common land but a common life.”
And those lives lost this week, Lynch said, came from different neighborhoods and backgrounds but will be grieved by all.
“Today, they’re mourned by officers, by residents, by family and friends, by men and women and children who loved them, who needed them and who will miss them always,” she said. “They are mourned by all of us. To the families of all who lost their lives in this series of tragedies, we share your pain and your loss.”

http://www.politico.com/story/2016/07/loretta-lynch-dallas-shooting-225296#ixzz4Ds2Xz5Y1

 

SICK: ‘BLACK LIVES MATTER’ SUPPORTERS CELEBRATE MURDER OF DALLAS COPS

BLM agitators joyful about slaughter of “pigs”

‘Black Lives Matter’ supporters responded to the sniper attack in Dallas by celebrating the murder of the five police officers who were gunned down in cold blood.

BLM sympathizers took to Twitter to express their joy at the carnage, with one commenting, “Y’all pigs got what was coming for y’all.”

“Next time a group wants to organize a police shoot, do like Dallas tonight, but have extra men/women to flank the Pigs!,” added another.

“Dude hell yeah someone is shooting pigs in dallas. Solidarity,” commented another user.

“DALLAS keep smoking dem pigs keep up the work,” remarked another.

Last night’s events in Dallas were as painfully predictable as they were tragic.

As I wrote almost a year ago after BLM supporters had plotted to bomb a police station in Ferguson, “Black Lives Matter cannot be described as anything other than a domestic terrorist organization.”

This is what I wrote nearly a year ago about , but the media kept giving the group a free pass.

One had to look no further than the fact that the ideological guru behind ‘Black Lives Matter’ – the individual whom its founders cite as their inspiration – Assata Shakur – is a convicted cop killer who is on the FBI’s ‘Most Wanted Terrorists’ list.

BLM protesters have also repeatedly invoked violent rhetoric. During a march in New York, demonstrators chanted, “What do we want? Dead cops. When do we want it? Now!”

BLM agitators have also used the refrain “pigs in a blanket, fry ’em like bacon!” on numerous occasions to promote violence against police officers.

A selection of tweets illustrating how ‘Black Lives Matter’ supporters are celebrating last night’s sniper attack appears below.

dude hell yeah someone is shooting pigs in dallas. solidarity

THE ROOTS OF BLACK LIVES MATTER UNVEILED

Special report reveals stunner: Except for website, there is no actual organization

Published: 01/16/2016
Read more at http://www.wnd.com/2016/01/the-roots-of-black-lives-matter-unveiled/#D1DZi6TVEDpfQLRh.99

Editor’s Note: This is a special report from the AIM Center for Investigative Journalism.

By James Simpson

image: http://www.wnd.com/files/2016/01/BLM1.jpg

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The Black Lives Matter movement (BLM) casts itself as a spontaneous uprising born of inner city frustration, but is, in fact, the latest and most dangerous face of a web of well-funded communist/socialist organizations that have been agitating against America for decades. Its agitation has provoked police killings and other violence, lawlessness and unrest in minority communities throughout the U.S. If allowed to continue, that agitation could devolve into anarchy and civil war. The BLM crowd appears to be spoiling for just such an outcome.

Nevertheless, BLM appears to be exercising considerable leverage over the Democratic Party, in part by pressuring and intimidating Democratic candidates such as Hillary Clinton and Bernie Sanders (VT) into embracing their cause. The movement could also assist President Obama’s exploitation of racial divisions in society beyond his final term in office.

This report examines in detail, for the first time, how communist groups have manipulated the cause of Black Lives Matter, and how money from liberal foundations has made it all possible.

Leftist origins

Exploiting blacks to promote Marxist revolution is an old tactic. The late Larry Grathwohl, former FBI informant in the Weather Underground, understood from personal experience how white communists exploited blacks and other minority groups. He said that Weather Underground terrorists Bill Ayers and Bernardine Dohrn regarded Barack Obama, whose political career they sponsored, as a tool – a puppet – to use against white America. Obama’s legacy at home will certainly include more racial division.

BLM launched in 2013 with a Twitter hashtag, #BlackLivesMatter, after neighborhood watchman George Zimmerman was acquitted in the Trayvon Martin killing. Radical Left activists Alicia Garza, Patrisse Cullors and Opal Tometi claim credit for the slogan and hashtag. Following the Michael Brown shooting in August 2014, Dream Defenders, an organization led by Working Families Party (ACORN) activist and Occupy Wall Street anarchist Nelini Stamp, popularized the phrase “Hands Up–Don’t Shoot!” which has since become BLM’s widely recognized slogan.

Garza, Cullors and Tometi all work for front groups of the Freedom Road Socialist Organization (FRSO), one of the four largest radical Left organizations in the country. The others are the Communist Party USA (CPUSA), Democratic Socialists of America (DSA), and the Committees of Correspondence for Democracy and Socialism (CCDS). Nelini Stamp’s ACORN – now rebranded under a variety of different names – works with all four organizations, and Dream Defenders is backed by the Service Employees International Union (SEIU), the ACLU, the Southern Poverty Law Center and others.

FRSO is a hereditary descendant of the New Communist Movement, which was inspired by Mao and the many communist revolutions throughout the world in the 1960s and 1970s. FRSO split into two separate groups in 1999, FRSO/Fight Back and FRSO/OSCL (Freedom Road Socialist Organization/Organizaciόn Socialista del Camino para la Libertad). Black Lives Matter and its founders are allied with the latter group. Future references to FRSO in this article refer to FRSO/OSCL.

FRSO is comprised of dozens of groups. The radical Left model is based on alliances of many organizations that are working on separate issues but dedicated ultimately to the same thing: overthrowing our society in order to replace it with a hardcore socialist (read communist) one.

The goal is to present the appearance of a formidable mass of organizations. Some are large, but many are little more than a website or Facebook page. When necessary, they can all come together to promote the cause du jour. The deaths of Trayvon Martin, Michael Brown and others were mere pretexts for socialist agitation. The real enemy is “the system.” This is why the BLM crowd denies the facts of those cases. As Stamp has said, “we are actually trying to change the capitalist system we have today because it’s not working for any of us.”

BLM is one of many projects undertaken by the FRSO. Except for the website, blacklivesmatter.com, there is no actual organization. The website implicitly acknowledges this, describing #BlackLivesMatter as “an online forum intended to build connections between Black people and our allies to fight anti-Black racism, to spark dialogue among Black people, and to facilitate the types of connections necessary to encourage social action and engagement.”

FRSO membership is disproportionately represented by blacks, gays and women, and self-consciously emphasizes those issues. Garza, who penned a “Herstory” of BLM, is a ” queer,” black veteran activist involved in numerous FRSO organizations. Her resumé includes:

Cullors describes herself as a “working class, queer, black woman.” She claims the country killed her father, a drug addict. At a 2015 Netroots Nation conference, Cullors led chants shouting, “If I die in police custody, burn everything down… rise the f— up! That is the only way mother—–s like you will listen!” Cullors founded and directs Dignity and Power Now (DPN), which claims to seek “dignity and power of incarcerated people, their families, and communities.”

Cullors was trained by Eric Mann, a former Weather Underground leader who exhorts followers to become “anti-racist, anti-imperialist” activists. Mann runs another FRSO front, the Labor/Community Strategy Center. Like most professional leftists, he makes good money – over $225,000 annually – living in “the system” he advocates destroying.

Tometi is the daughter of illegal aliens from Nigeria. While in college, she worked for the ACLU defending illegal aliens against “vigilantes” opposed to illegal immigration. She is currently the executive director of Black Alliance for Just Immigration (BAJI).

The funding

FRSO/BLM organizations are generously supported by a universe of wealthy foundations. Some, like those employing BLM founders Garza and Tometi, receive money directly. Others, like Cullors’ DPN, are financed by organizations designed specifically to underwrite the activities of others. Amounts reflect donations received over approximately the past decade.

NDWA (Garza) – 2013 revenues were $5.5 million. The NDWA board includes two members of CASA de Maryland, the Illegals’ version of ACORN. CASA also received a grant from NDWA in 2013, as did the radical Left Institute for Policy Studies. NDWA receives funding from the following foundations:

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POWER (Garza) – 2013 revenues were $456,676, including $92,173 in government grants. POWER evolved from the now defunct communist group STORM (Standing Together to Organize a Revolutionary Movement). Obama’s former “Green Jobs Czar” the self-described communist, Van Jones, served on STORM’s board.

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RTTC (Garza) – 2013 revenues were $248,190. RTTC is a nationwide network of activist organizations that resists the gentrification of inner cities because it displaces “low-income people, people of color, marginalized LGBTQ communities, and youths of color…”

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SOUL (Garza) – Despite its small size (2013 revenues at $110,304), SOUL claims to have trained 679 organizers in 2013.

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BAJI (Tometi) – 2013 revenues were $321,570. This modest organization only lists two full-time staff, yet receives support from many recognizable foundations.

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Cullors’ DPN is underwritten by Community Partners, a Los Angeles based non-profit with a $24 million budget (including $4 million in government grants) that fiscally sponsors non-profits. It is not an FRSO organization.

Advancement Project (AP) – an FRSO group that funds a variety of radical causes. AP sees America as a racist, oppressive nation and, according to Discover the Networks, “works to organize ‘communities of color’ into politically cohesive units while disseminating its leftist worldviews and values as broadly as possible by way of a sophisticated communications department.” Its 2013 revenues were $11.3 million.

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Movement Strategy Center (MSC) – also facilitates funding, development and advancement of FRSO organizations. Its 2013 revenues were $7.5 million, including $156,032 in government grants.

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The return of Van Jones

Mainstream funders have helped fund BLM as well. For example, United Way has partnered with A&E and iHeartMedia to create Shining the Light Advisors, a committee of “nationally known experts and leaders in racial and social justice,” to oversee grant disbursements. These “advisors” include such radicals as Van Jones, Advancement Project co-director Judith Browne Dianis, and Rinku Sen, president of the Applied Research Center (ARC).

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BLM’s mission includes a kitchen sink of favored radical Left causes, including support of poverty elimination programs, prison deinstitutionalization, illegal immigration and gay rights. Highlighting FRSO’s orientation toward gay blacks, it describes how “Black, queer and trans folks bear a unique burden from a hetero-patriarchal society that disposes of us like garbage and simultaneously fetishizes us and profits off of us, and that is state violence.”

Its wide network of affiliates and partner organizations like CPUSA and ACORN allows BLM to turn out large crowds. Many participate simply to protest, commit violence, loot or all three.

FRSO was prominent at the Ferguson protests and videoed the event. It has even created a Black Lives Matter button. Following are more FRSO organizations involved with BLM. (Funding estimates provided when known).

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BLM groups have also joined with CPUSA, CCDS, DSA, SEIU, Color of Change and many others. Anarchist and top OWS organizer Lisa Fithian, who orchestrated the 1999 Seattle World Trade Organization riots, trained Ferguson protesters. Fithian says “Create crisis, because crisis is that edge where change is possible.”

Fithian echoes Richard Cloward and Frances Fox Piven – creators of the infamous Cloward/Piven Crisis Strategy – who spent decades attempting to provoke ghetto blacks to riot, because “Poor people can advance only when ‘the rest of society is afraid of them.’” Rasheen Aldridge, seen above meeting President Obama, was a leader of the Ferguson protests. He has participated in numerous CPUSA events in 2013, 2014 and 2015. Another prominent CPUSA member active in BLM protests is Michael McPhearson, who leads the Don’t Shoot Coalition.

Carl Davidson and Pat Fry, co-chairs of CCDS, exploited the revolutionary atmosphere of the Ferguson riots to create an eight-point plan for “Left Unity” demanding “a common aspiration for socialism.”

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Missourians Organizing for Reform and Empowerment (MORE) is Missouri’s rebranded ACORN group. It created an illustrative chart offering a snapshot of the Left’s grievance agenda. Capitalism is always the problem. Socialism is always the solution.

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Interestingly, MORE doesn’t believe in socialism when it is footing the bill. MORE promised to pay Ferguson protesters $5,000/month to hang out and cause trouble. But just as ACORN stiffed its employees while preaching socialist generosity, MORE stiffed the protesters.

Islamist organizations have also jumped on the BLM bandwagon, reminding us of the unholy alliance that exists between them and the radical Left. In September 2015, the Muslim Brotherhood front-group Council on American Islamic Relations (CAIR) joined BLM activists in storming California Governor Jerry Brown’s office. CAIR also participated in the Ferguson protests. Meanwhile ISIS is recruiting American blacks for its cause.

Intellectual genealogy of Black Lives Matter

“We must be ready to employ trickery, deceit, law-breaking, withholding and concealing truth… We can and must write in a language which sows among the masses hate, revulsion, and scorn toward those who disagree with us.” – Vladimir Lenin

That quote from the Soviet Union’s first leader captures the entire essence of the Left’s strategy. No matter what the issue, no matter what the facts, the Left advances a relentless, hate-filled narrative that America is irredeemably evil and must be destroyed as soon as possible. The BLM movement is only the latest but perhaps most dangerous variant on this divisive theme.

Communists use language and psychology as weapons. Their constant vilification is a form of psychological terror. It puts America and Americans on trial. The verdict is always guilty. Facts don’t matter because the Left does not want to resolve the problems they complain about. They use those problems to agitate and provoke, hoping conflict becomes unavoidable – thereby creating a self-fulfilling prophecy. Their hatred is tactical.

Obama’s favorite Harvard professor Derrick Bell devised Critical Race Theory, which exemplifies Lenin’s strategy as applied to race. According to Discover the Networks:

“Critical race theory contends that America is permanently racist to its core, and that consequently the nation’s legal structures are, by definition, racist and invalid … members of ‘oppressed’ racial groups are entitled – in fact obligated – to determine for themselves which laws and traditions have merit and are worth observing…”

Bell’s theory is in turn an innovation of Critical Theory – developed by philosophers of the communist Frankfurt School. The school was founded in Frankfurt, Germany in 1923. Its Jewish communist scholars fled Hitler’s Germany in the 1930s, relocating to Columbia Teachers College in New York. Critical Theory – which discredits all aspects of Western society – rapidly infected the minds of newly-minted college professors, who then spread its poison throughout the university system. We know it today as political correctness.

White privilege

The “racist” narrative was turbocharged with the concept of “White Privilege,” the notion that whites – the dominant group in capitalist America – are irretrievably racist, sexist, homophobic, xenophobic, fill-in-the-blank-ophobic, imperialistic oppressors who exploit everyone. Whites are the only true evil in the world and should be exterminated.

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The “White Skin Privilege” idea was created in 1967 by Noel Ignatiev, an acolyte of Bell and professor at Harvard’s W.E.B. Du Bois Institute (Du Bois was a Communist black leader who helped found the NAACP). Ignatiev was a member of CPUSA’s most radical wing, the Maoist/Stalinist Provisional Organizing Committee to Reconstitute the Marxist-Leninist Communist Party (POC). POC was the intellectual forerunner to FRSO.

Writing under the alias Noel Ignatin, Ignatiev co-authored an SDS pamphlet with fellow radical Ted Allen, titled “White Blindspot.” In 1992 he co-founded “Race Traitor: Journal of the New Abolitionism.” Its first issue coined the slogan, “Treason to whiteness is loyalty to humanity.” Its stated objective was to “abolish the white race.” More specifically, the New Abolitionist newsletter stated:

“The way to abolish the white race is to challenge, disrupt and eventually overturn the institutions and behavior patterns that reproduce the privileges of whiteness, including the schools, job and housing markets, and the criminal justice system. The abolitionists do not limit themselves to socially acceptable means of protest, but reject in advance no means of attaining their goal (emphasis added).”

But do not be confused; “White” does not mean white. “White” in radical construction means anyone of any race, creed, nationality, color, sex, or sexual preference who embraces capitalism, free markets, limited government and American traditional culture and values. By definition, these beliefs are irredeemably evil and anyone who aligns with them is “white” in spirit and thus equally guilty of “white crimes.” Ignatiev still teaches, now at the Massachusetts College of Art.

The Black Lives Matter movement carries this narrative to unprecedented heights, claiming that only whites can be racists. And while justifying violence to achieve “social justice,” the movement’s goal is to overthrow our society to replace it with a Marxist one. Many members of the black community would be shocked to learn that the intellectual godfathers of this movement are mostly white Communists, “queers” and leftist Democrats, intent on making blacks into cannon fodder for the revolution.

James Simpson is an economist, former White House budget analyst, businessman and investigative journalist. Follow Jim on Twitter & Facebook. Veteran researcher Trevor Loudon and Matthew Vadum (Senior Editor, Capital Research Center) contributed materially to this report.
 http://www.wnd.com/2016/01/the-roots-of-black-lives-matter-unveiled/#D1DZi6TVEDpfQLRh.99

 

Black Lives Matter

From Wikipedia, the free encyclopedia
Black Lives Matter
BLM Letterhead.png
Formation July 13, 2013; 2 years ago
Founders
Type Social movement
Location
  • United States
Key people
Shaun King
Website BlackLivesMatter.com

Black Lives Matter die-in protest atMetro Green Line against allegations of police brutality in Saint Paul, Minnesota.

Black Lives Matter (BLM) is an international activist movement, originating in the African-American community, that campaigns against violence toward black people. BLM regularly organizes protests around the deaths of black people in killings by law enforcement officers, and broader issues of racial profiling, police brutality, andracial inequality in the United States criminal justice system.

In 2013, the movement began with the use of the hashtag#BlackLivesMatter on social media, after the acquittal of George Zimmerman in the shooting death of African-American teen Trayvon Martin. Black Lives Matter became nationally recognized for its street demonstrations following the 2014 deaths of two African Americans: Michael Brown, resulting in protests and unrest in Ferguson, and Eric Garner in New York City.[1][2]

Since the Ferguson protests, participants in the movement have demonstrated against the deaths of numerous other African Americans by police actions or while in police custody, including those of Tamir Rice, Eric Harris, Walter Scott, Jonathan Ferrell, Sandra Bland, Samuel DuBose, and Freddie Gray, which led to protests and rioting in Baltimore. In the summer of 2015, Black Lives Matter began to publicly challenge politicians—including politicians in the 2016 United States presidential election—to state their positions on BLM issues. The overall Black Lives Matter movement, however, is a decentralized network and has no formal hierarchy or structure.[3]

Founding

Nekima Levy-Pounds speaks during a Black Lives Matter demonstration inMinneapolis.

In the summer of 2013, after George Zimmerman‘s acquittal for the shooting death of Trayvon Martin, the movement began with the hashtag #BlackLivesMatter.[4] The movement was co-founded by three black community organizers: Alicia Garza, Patrisse Cullors, and Opal Tometi.[5][6]

BLM claims inspiration from the African-American Civil Rights Movement, the Black Power movement, the 1980s Black feminist movement, Pan-Africanism, Anti-Apartheid Movement, Hip hop, LGBTQ social movements and Occupy Wall Street.[7]

Garza, Cullors and Tometi met through “Black Organizing for Leadership & Dignity” (BOLD), a national organization that trains community organizers.[7] They began to question how they were going to respond to the devaluation of black lives after Zimmerman’s acquittal. Garza wrote a Facebook post titled “A Love Note to Black People” in which she wrote: “Our Lives Matter, Black Lives Matter”. Cullors replied: “#BlackLivesMatter”. Tometi then added her support, and Black Lives Matter was born as an online campaign.[7]

In August 2014, BLM members organized their first in-person national protest in the form of a “Black Lives Matter Freedom Ride” to Ferguson, Missouri after the shooting of Michael Brown.[7] More than five hundred members descended upon Ferguson to participate in non-violent demonstrations. Of the many groups that descended on Ferguson, Black Lives Matter emerged from Ferguson as one of the best organized and most visible groups, becoming nationally recognized as symbolic of the emerging movement.[7]Since August 2014, Black Lives Matter has organized more than one thousand protest demonstrations. On Black Friday in November, Black Lives Matter staged demonstrations at stores and malls across the United States.[7]

In 2015, after the death of Freddie Gray in Baltimore, Maryland, black activists around the world modeled efforts for reform on Black Lives Matter and the Arab Spring.[7] This international movement has been referred to as the “Black Spring”.[8][9] Connections have also been forged with parallel international efforts such as the Dalit rights movement.[10] Expanding beyond street protests, BLM has expanded to activism, such as the 2015 University of Missouri protests, on American college campuses.[11]

Currently, there are at least twenty-three Black Lives Matter chapters in the U.S., Canada, and Ghana.[12] Other Black Lives Matter leaders include: DeRay Mckesson, Shaun King, Marissa Johnson, Nekima Levy-Pounds, and Johnetta Elzie.

Tactics

Black Lives Matter protest against police brutality in St. Paul, Minnesota

Black Lives Matter originally used social media—including hashtag activism—to reach thousands of people rapidly.[7] Since then, Black Lives Matters has embraced a diversity of tactics.[13] BLM generally engages in direct action tactics that make people uncomfortable enough that they must address the issue.[14]

BLM has been known to build power through protest.[15] BLM has held rallies and marches, including one for the death of Corey Jones in Palm Beach, Florida.[16] BLM has also staged die-ins and held one during the 2015 Twin Cities Marathon.[17]

Political slogans used during demonstrations include the eponymous “Black Lives Matter”, “Hands up, don’t shoot” (a later discredited reference attributed to Michael Brown[18]), “I can’t breathe”[19][20] (referring to Eric Garner), “White silence is violence”,[21] “No justice, no peace”,[22][23] and “Is my son next?”,[citation needed] among others.

Most of the protesters actively distinguish themselves from the older generation of black leadership, such as Al Sharpton, by their aversion to middle-class traditions such aschurch involvement, Democratic Party loyalty, and respectability politics.[24][25]

It is important to note that music is an important repertoire of contention for the black lives matter movement. Rappers such as Kendrick Lamar have used music to promote structural conduciveness necessary for a social movement to maintain momentum according to value added theory.[26] Songs such as “Alright” have been used as a rallying call.[27]Beyoncé‘s most recent production lemonade featured Mike Brown and Trayvon Martin’s mothers crying while holding the last images they have of their sons, in effect propelling the issue of police brutality to a national stage.[28] The video for her single “Formation” (2016) celebrates southern black culture and features a line of policemen holding up their hands while a hooded black boy dances in front of them. The video also features a shot of graffiti on a wall reading “stop shooting us”.[29]

Memes are also important in garnering support for and against the Black Lives Matter new social movement. Information communication technologies such as Facebook and Twitter spread memes and are important tools for garnering web support in hopes of producing a spillover effect into the offline world.[30] The use of ICTs facilitate the spread of the message “All Lives Matter” as a response to the Black Lives Matter hashtag as well as the “Blue Lives Matter” hashtag as a response to Beyonce’s halftime performance speaking out against police brutality.[31][32]

Philosophy

Black Lives Matter protest at Union Square, Manhattan

Black Lives Matter incorporates those traditionally on the margins of black freedom movements.[7] The organization’s website, for instance, states that Black Lives Matter is “a unique contribution that goes beyond extrajudicial killings of black people by police and vigilantes” and, embracing intersectionality, that “Black Lives Matter affirms the lives ofblack queer and trans folks, disabled folks, black undocumented folks, folks with records, women and all black lives along the gender spectrum.”[33]

Founder Alicia Garza summed up the philosophy behind Black Lives Matter as follows: “When we say Black Lives Matter, we are talking about the ways in which Black people are deprived of our basic human rights and dignity. It is an acknowledgement Black poverty and genocide is state violence. It is an acknowledgment that 1 million Black people are locked in cages in this country–one half of all people in prisons or jails–is an act of state violence. It is an acknowledgment that Black women continue to bear the burden of a relentless assault on our children and our families and that assault is an act of state violence.”

Garza went on: “Black queer and trans folks bearing a unique burden in a hetero-patriarchal society that disposes of us like garbage and simultaneously fetishizes us and profits off of us is state violence; the fact that 500,000 Black people in the US are undocumented immigrants and relegated to the shadows is state violence; the fact that Black girls are used as negotiating chips during times of conflict and war is state violence; Black folks living with disabilities and different abilities bear the burden of state-sponsored Darwinian experiments that attempt to squeeze us into boxes of normality defined by White supremacy is state violence. And the fact is that the lives of Black people—not ALL people—exist within these conditions is consequence of state violence.”[34]

Influence

Black Lives Matter protest at Herald Square, Manhattan

In 2014, the American Dialect Society chose #BlackLivesMatter as their word of the year.[35][36] Over eleven hundred black professors expressed support for BLM.[37] Several media organizations have referred to BLM as “a new civil rights movement”.[1][38][39] #BlackLivesMatter was voted as one of the twelve hashtags that changed the world in 2014.[40]

In 2015, Serena Williams expressed her support for Black Lives Matter, writing to BLM: “Keep it up. Don’t let those trolls stop you. We’ve been through so much for so many centuries, and we shall overcome this too.”[41]

As a part of a general assembly, the Unitarian Universalist Church passed a resolution in support of BLM and staged a die-in in Portland, Oregon.[42]Patrisse Cullors, Opal Tometi, and Alicia Garza—as “The Women of #BlackLivesMatter” — were listed as one of the nine runners-up for The Advocates Person of the Year.[43]

The February 2015 issue of Essence Magazine and the cover was devoted to Black Lives Matter.[44] In December 2015, BLM was a contender for the Time MagazinePerson of the Year award. Angela Merkel won the award while BLM came in fourth of the eight candidates.[45]

On May 9, 2016 Delrish Moss was sworn in as the first permanent African-American police chief in Ferguson, where he acknowledges he faces such challenges as diversifying the police force, creating dramatic improvements in community relations, and addressing issues that catalyzed the Black Lives Matter movement.[46]

Notable protests and demonstrations

2014

Black Lives Matter protester atMacy’s Herald Square.

In August 2014, during Labor Day weekend, Black Lives Matter organized a “Freedom Ride”, that brought more than 500 African-Americans from across the United States intoFerguson, Missouri, to support the work being done on the ground by local organizations.[47]

Black Lives Matter members and supporters rode in from New York City, Newark, Boston, Chicago, Columbus, Miami, Detroit, Houston, Oakland, San Francisco, Los Angeles, Nashville, Portland, Tucson, Washington, D.C., and more, in a similar way to that of the Freedom Riders in the 1960s.[48] The movement has been generally involved in theFerguson unrest, following the death of Michael Brown.[49]

In November in Oakland, California, fourteen Black Lives Matter activists were arrested after they stopped a Bay Area Rapid Transit (BART) train for more than an hour onBlack Friday, one of the biggest shopping days of the year. The protest, which was led by Black Lives Matter co-founder Alicia Garza, was organized in response to the grand jury decision not to indict Darren Wilson for the death of Mike Brown. [50][51]

A Black Lives Matter protest of police brutality in the rotunda of the Mall of America in Bloomington, Minnesota

In December, 2,000–3,000 people gathered at the Mall of America in Bloomington, Minnesota, to protest the killings of unarmed black men by police.[52] At least twenty members of a protest that had been using the slogan were arrested.[53] In Milwaukee, Wisconsin, BLM protested the Shooting of Dontre Hamilton, who died in April.[54] Black Lives Matter protested the Shooting of John Crawford III.[55] The Shooting of Renisha McBride was protested by Black Lives Matter.[56]

Also in December, in response to the decision by the grand jury not to indict Darren Wilson on any charges related to the death of Michael Brown, a protest march was held inBerkeley, California. Later, in 2015, protesters and journalists who participated in that rally filed a lawsuit alleging “unconstitutional police attacks” on attendees.[57]

2015

In March, BLM protested at Chicago Mayor Rahm Emanuel‘s office, demanding reforms within the Chicago Police Department.[58] In Cobb County, Georgia, the movement protested the death of Nicholas Thomas who was shot and killed by the police.[59]

In April, Black Lives Matter across the United States protested over the death of Freddie Gray which included the 2015 Baltimore protests.[60][61] Black Lives Matter organizers supported the fast food strike in solidarity with fast food workers, and to oppose racial income inequality.[62] On April 14, BLM protested across U.S. cities.[63] In Zion, Illinois, several hundred protested over the fatal shooting of Justus Howell.[64] After the shooting of Walter Scott, Black Lives Matter called for citizen oversight of police.[65]

In May, a protest by BLM in San Francisco was part of a nationwide protest decrying the police killing of black women and girls, which included the deaths of Meagan Hockaday, Aiyana Jones, Rekia Boyd and others.[66] In Cleveland, Ohio, after an officer was acquitted at trial in the Shooting of Timothy Russell and Malissa Williams, BLM protested.[67] In Madison, Wisconsin, BLM protested after the officer was not charged in the Shooting of Tony Robinson.[68]

In June, after a shooting in a historically black church in Charleston, South Carolina, BLM issued a statement and condemned the shooting as an act of terror.[69] BLM across the country marched, protested and held vigil for several days after the shooting.[70][71] BLM was part of a march for peace on the Arthur Ravenel Jr. Bridge in South Carolina.[72] After the Charleston shooting, a number of memorials to the Confederate States of America were graffitied with “Black Lives Matter” or otherwise vandalized.[73][74]Around 800 people protested in McKinney, Texas after a video was released showing an officer pinning a girl—at a pool party in McKinney, Texas—to the ground with his knees.[75]

In July, BLM protesters shut down Allen Road in Toronto, Ontario, protesting the shooting deaths of two black men in the metropolitan area—Andrew Loku and Jermaine Carby—at the hands of police.[76] BLM activists across the United States began protests over the death of Sandra Bland, an African-American woman, who was allegedly found hanged in a jail cell in Waller County, Texas.[77][78] In Cincinnati, Ohio, BLM rallied and protested the Death of Samuel DuBose after he was shot and killed by a University of Cincinnati police officer.[79] In Newark, New Jersey, over a thousand BLM activists marched against police brutality, racial injustice, and economic inequality.[80]

In August, BLM organizers held a rally in Washington, D.C., calling for a stop to violence against transgender women.[81] In St. Louis, Missouri, BLM activists protested the death of Mansur Ball-Bey who was shot and killed by police.[82] In Charlotte, North Carolina, after a judge declared a mistrial in the trial of a white Charlotte police officer who killed an unarmed black man, Jonathan Ferrell, BLM protested and staged die-ins.[83] In Philadelphia, Pennsylvania, Janelle Monae, Jidenna and other BLM activists marched through North Philadelphia to bring awareness to police brutality and Black Lives Matter.[84]

Around August 9, the one-year anniversary of Michael Brown’s death, BLM rallied, held vigil and marched in St. Louis and across the country.[85][86]

One-year commemoration of the Shooting of Michael Brown and the Ferguson unrest at Barclays Center in Brooklyn, New York. In September, BLM activists shut down streets in Toronto, rallied against police brutality, and stood in solidarity with marginalized black lives. Black Lives Matter was a featured part of the Take Back the Night event in Toronto.[87] In Austin, Texas, over five hundred BLM protesters rallied against police brutality, and several briefly carried protest banners onto Interstate 35.[88] In Baltimore, Maryland, BLM activists marched and protested as hearings began in the Freddie Graypolice brutality case.[89] In Sacramento, California, about eight hundred BLM protesters rallied to support a California Senate bill that would increase police oversight.[90] BLM protested the Shooting of Jeremy McDole.[91]

Black Lives Matter protest against St. Paul police brutality at Metro Green Line

In October, Black Lives Matters activists were arrested during a protest of a police chiefs conference in Chicago.[92] Activists in Los Angeles Black Lives Matter activists were among several organizations that disrupted a community meeting with Los Angeles Mayor Eric Garcetti at a church in South L.A. [93] The protesters said that Garcetti had broken a promise to work with their organization to plan a meeting. The pastor of the church that hosted the meeting denied that Black Lives Matter organizers had been excluded. [94]

“Rise Up October” straddled the Black Lives Matter Campaign, and brought several protests.[95]Quentin Tarantino and Cornel West, participating in “Rise Up October”, decried police violence.[96] A Dunkin Donuts employee in Providence, Rhode Island wrote “black lives matter” on a police officer’s cup of coffee which resulted in protests.[clarification needed][97] At UCLA, students protested “Black Bruins Matter” after some students wore blackface to a Kanye West-themed fraternity party.[98]

In November, BLM activists protested after Jamar Clark was shot by Minneapolis Police Department.[99] Later that month, after continuous protest at the Minneapolis 4th Precinct Police Station, a march was organized to honor Jamar Clark, from the 4th Precinct to downtown Minneapolis. After the march, masked men carrying firearms appeared and began calling the protesters racial slurs. After protesters asked the armed men to leave, the men opened fire, shooting five protesters.[100] All injuries required hospitalization, but were not life-threatening. The men fled the scene only to later be found and arrested. The men arrested were young, one white, one Hispanic, both believed to be white supremacists.[101]

In November 2015, students at Dartmouth College held a peaceful meeting and march after a Black Lives Matter art installation on the campus was vandalized. After the march, a smaller group of students entered the university library and conducted a protest there.[102]The Dartmouth Review, a conservative campus publication, reported that the protesters had shoved other students and used profanity. Campus police and college officials claimed they had not observed any incidents of shoving or other physical violence.[103]

2016

In late May, BLM activists[disputed ] disrupted a speech by Milo Yiannopoulos at DePaul University. Security did not intervene to stop the protests, despite the university requiring organizers to cover the cost of additional security.[104][105]

2016 presidential election

In the summer of 2015, Black Lives Matter began to publicly challenge politicians—including 2016 United States presidential candidates—to state their positions on BLM issues.[106]

Influence

Bernie Sanders and Black Lives Matter activists in Westlake Park, Seattle

In August 2015, the Democratic National Committee passed a resolution supporting Black Lives Matter.[107]

In the first Democratic debate, the presidential candidates were asked whether black lives matter or all lives matter.[108] In reply, Bernie Sanders stated “black lives matter.”[108]Martin O’Malley said, “Black lives matter,” and that the “movement is making is a very, very legitimate and serious point, and that is that as a nation we have undervalued the lives of black lives, people of color.”[109]Jim Webb, on the other hand, replied: “as the president of the United States, every life in this country matters.”[108]Hillary Clinton was not directly asked the same question, but was instead asked: “What would you do for African Americans in this country that President Obama couldn’t?”[110]

In response to what she would do differently from President Obama for African-Americans, Hillary Clinton pushed for criminal justice reform, and said, “We need a new New Deal for communities of color.”[111] Clinton had already met with Black Lives Matter representatives in August 2015, and expressed skepticism in the movement’s practical application.[clarification needed][112] In June 2015, Clinton was reported to have said “All lives matter.”[113]

Republican candidates have been mostly critical of BLM. In August 2015, Ben Carson, the only African American vying for the presidency, called the movement “silly”.[114]Carson also said that BLM should care for all black lives, not just a few.[115] In the first Republican presidential debate, which took place in Cleveland, only one question referenced Black Lives Matter.[116] In response to the question, Scott Walker did not acknowledge Black Lives Matter and advocated for the proper training of law enforcement.[116]

Republican presidential candidate Scott Walker blamed the movement for rising anti-police sentiment,[117] while Marco Rubio was the first candidate to publicly sympathize with the movement’s point of view.[118]

Several conservative pundits have labeled the movement a “hate group”.[119] Candidate Chris Christie, the New Jersey Governor, criticized President Obama for supporting BLM, claiming the movement calls for the murder of police officers,[120] which was condemned by New Jersey chapters of the NAACP and ACLU.[121]

BLM activists called on the Democratic National Committee and the Republican National Committee to have a presidential debate focused on issues of racial justice.[122] Both parties, however, declined to alter their debate schedule, and instead the parties support a townhall or forum.[123]

Protests

Black Lives Matter on Black Friday2014 at Times Square

At the Netroots Nation Conference in July 2015, dozens of Black Lives Matter activists took over the stage at an event featuring Martin O’Malley and Bernie Sanders. Activists, including Black Lives Matter co-founder Patrisse Cullors, asked both candidates for specific policy proposals to address deaths in police custody.[124] The protesters chanted several slogans, including “if I die in police custody, burn everything down”. After conference organizers pleaded with the protesters for several minutes, O’Malley responded by pledging to release a wide-ranging plan for criminal justice reform. Protesters later booed O’Malley when he stated “Black lives matter. White lives matter. All lives matter.”[125]O’Malley later apologized for his remarks, saying that he didn’t mean to disrespect the black community.[125]

On August 8, 2015, a speech by Democratic presidential candidate and civil rights activist Bernie Sanders was disrupted by a group from the Seattle Chapter of Black Lives Matter including chapter co-founder Marissa Johnson[126] who walked onstage, seized the microphone from him and called his supporters racists and white supremacists.[127][128][129] Sanders issued a platform in response.[130]

Nikki Stephens, the operator of a Facebook page called “Black Lives Matter: Seattle” issued an apology to Sanders’ supporters, claiming these actions did not represent her understanding of BLM. She was then sent messages by members of the Seattle Chapter which she described as threatening, and was forced to change the name of her group to “Black in Seattle”. The founders of Black Lives Matter stated that they had not issued an apology.[131]

In August, activists chanting “Black Lives Matter” interrupted the Las Vegas rally of Republican presidential candidate Jeb Bush.[132] As Bush exited early, some of his supporters started responding to the protesters by chanting “white lives matter” or “all lives matter”.[133]

In October, a speech by Hillary Clinton on criminal justice reform and race at Atlanta University Center was interrupted by BLM activists.[134]

In November, a BLM protester was physically assaulted at a Donald Trump rally in Birmingham, Alabama. In response, Trump said, “maybe he should have been roughed up because it was absolutely disgusting what he was doing.”[135] Trump had previously threatened to fight any Black Lives Matter protesters if they attempted to speak at one of his events.[136]

In March 2016, Black Lives Matter helped organize the 2016 Donald Trump Chicago rally protest that forced Trump to cancel the event.[137][138] Four individuals were arrested and charged in the incident. Two were “charged with felony aggravated battery to a police officer and resisting arrest”, one was “charged with two misdemeanor counts of resisting and obstructing a peace officer”, and the fourth “was charged with one misdemeanor count of resisting and obstructing a peace officer”.[139] A CBS reporter was one of those arrested outside the rally. He was charged with resisting arrest.[140]

“All Lives Matter”

Some[who?] have responded to the Black Lives Matter movement by countering that the phrase “All Lives Matter” would be a more proper title. Tim Scott has defended the usage of the “All Lives Matter” term.[141]

On Real Time with Bill MaherBill Maher expressed support of the “Black Lives Matter” phrase, stating that “‘All Lives Matter’ implies that all lives are equally at risk, and they’re not”.[142] Founders have responded to criticism of the movement’s exclusivity, saying, “#BlackLivesMatter doesn’t mean your life isn’t important – it means that Black lives, which are seen without value within White supremacy, are important to your liberation.”[143]

In a video interview with Laura Flanders, Garza discussed how “changing Black Lives Matter to All Lives Matter is a demonstration of how we don’t actually understand structural racism in this country”. She went on to discuss how other lives are valued more than black lives, which she strongly feels is wrong, and that to take blackness out of this equation is inappropriate.[144]

The movement challenges the “universalizing politics” implied in the notion of a Post-racial America, and the phrase ‘All Lives Matter’ reflects a view of “racial dismissal, ignoring, and denial”, according to critical race theory scholar David Theo Goldberg.[145]

President Barack Obama spoke to the debate between Black Lives Matter and All Lives Matter.[146] Obama said, “I think that the reason that the organizers used the phrase Black Lives Matter was not because they were suggesting that no one else’s lives matter … rather what they were suggesting was there is a specific problem that is happening in the African American community that’s not happening in other communities.” He also said “that is a legitimate issue that we’ve got to address.”[14]

On February 24, 2016, Mark Zuckerberg, CEO of Facebook, sent out a company-wide internal memo to employees formally rebuking employees who had crossed out handwritten “Black Lives Matter” phrases on the company walls and had written “All Lives Matter” in their place. Facebook allows employees to free-write thoughts and phrases on company walls. The memo was then leaked by several employees. As Zuckerberg had previously condemned this practice at previous company meetings, and other similar requests had been issued by other leaders at Facebook, Zuckerberg wrote in the memo that he would now consider this overwriting practice not only disrespectful, but “malicious as well”.[147]

According to Zuckerberg’s memo, “Black Lives Matter doesn’t mean other lives don’t – it’s simply asking that the black community also achieves the justice they deserve.” The memo noted that the act of crossing something out in itself, “means silencing speech, or that one person’s speech is more important than another’s”.[148][149][150]

Criticism

Issues protested

African-American critics of the movement include neurosurgeon and former Republican presidential candidate Ben Carson, minister Johnathan Gentry of the West Angeles Church of God in Christ, and author and minister Barbara Ann Reynolds.[151][152]

Deroy Murdock questioned the number of black people killed by police that is reported by BLM. He wrote, “But the notion that America’s cops simply are gunning down innocent black people is one of today’s biggest and deadliest lies.”[153] The hashtag #BlueLivesMatter was created by supporters who stood up for police officers’ lives.[154] Some critics also accuse Black Lives Matter of “anti-white and anti-police radicalism”.[155]

Many individuals in law enforcement have been critical of BLM. Sheriff David A. Clarke, Jr of Milwaukee County has been critical of Black Lives Matter, stating that there is no police brutality problem in America and that “there is no racism in the hearts of police officers”.[156] John McWhorter said that the Black Lives Matter movement should take on black-on-black crime.[157]

Seattle SeahawksRichard Sherman said about the “Black Lives Matter” movement, “I dealt with a best friend getting killed, and it was [by] two 35-year-old black men. There was no police officer involved, there wasn’t anybody else involved, and I didn’t hear anybody shouting ‘black lives matter’ then.”[158]

Breitbart journalist Milo Yiannopoulos has criticized the structure and main goals of the BLM movement.[159]

Tactics

See also: Ferguson effect

Some black civil rights leaders, such as Rev. Cecil “Chip” Murray, Najee Ali, Earl Ofari Hutchinson, have criticized the tactics of BLM.[160] Marchers using a BLM banner were recorded in a video chanting, “Pigs in a blanket, fry ’em like bacon” at the Minnesota State Fair. Law enforcement groups said that the chant promotes death to police. The protest organizer disputed that interpretation.[161]

A North Carolina police chief retired after calling BLM a terrorist group.[162] A police officer in Oregon was removed from street duty following a social media post in which he said he would have to “babysit these fools”, in reference to planned BLM event.[163]

Some commentators and law enforcement have said that BLM has made it hard for police to do their job, leading to a rise in crime rates.[153] Commentators have referred to this as the “Ferguson effect.”[153]FBI DirectorJames Comey, for example, suggested that the movement is partly leading to a national rise in crime rates because police officers have pulled back from doing their jobs.[164] However, there had been even larger crime spikes prior to the events in Ferguson.[165]

White groups

In response to BLM, Facebook pages purporting to represent “White Student Unions” with the slogan “White Lives Matter” have been linked to college campuses in the United States.[166] The pages often promise a “safe space” for white students and condemn alleged anti-white racism on campus.[167] However, many of the groups were not verified as legitimate student organizations registered with their respective universities.[166]

Media depictions

  • Black Lives Matter appeared in an episode of Law & Order: SVU.[4][34]
  • The TV drama Scandal depicted Black Lives Matter on their March 5, 2015, episode that showed an unarmed black teen shot by a police officer.[168]
  • The documentary short film Bars4Justice features brief appearances by various activists and recording artists affiliated with the Black Lives Matter movement. The film is an official selection of the 24th AnnualPan African Film Festival.
  • Macklemore & Ryan Lewis both rap and sample protest chants in their single, “White Privilege II“, including the eponymous chant, “black lives matter,” as well as “it’s not about you!” and “no justice, no peace”.

See also

https://en.wikipedia.org/wiki/Black_Lives_Matter

Hillary Clinton Blames Whites, Cops for Deaths of Young Black Men

Hillary Clinton used a CNN interview on Friday to completely embrace the Democrats’ claim that white people and cops must change to help reduce the number of African-Americans killed in tense exchanges with cops.

by NEIL MUNRO

“I will call for white people, like myself, to put ourselves in the shoes of those African-American  families who fear every time their children go somewhere, who have to have ‘The Talk,’ about, you now, how to really protect themselves [from police], when they’re the ones who should be expecting protection from encounters with police,” Clinton told CNN’s Wolf Blitzer.

I’m going to be talking to white people, we’re the ones who have to start listening to the legitimate cries coming from our African-American fellow citizens,” she said.

“We’ve got to figure out what is happening when routine traffic stops, when routine arrests, escalate into killings … Clearly, there seems to be a terrible disconnect between many police departments and officers and the people they have sworn to protect,” she said.

Federal policing guidelines are needed because “we have 18,000 police departments… [some of which need more training to] go after systemic racism, which is a reality, and to go after systemic bias,” she said. 

“We’ve got to start once again respecting and treating each other with the dignity that every person deserves,” she said.

The statement echoed a tweet from Friday morning. 

White Americans need to do a better job of listening when African Americans talk about the seen and unseen barriers you face every day.

To win in November, Clinton need a high turnout of African-American voters. 

Neither Blitzer nor Clinton suggested that African-American communities have a role in reducing police-encounter deaths, which usually occur in tense engagements between a few cops and a few suspects with extensive criminal histories.

In general, young African-American men are far more likely to commit crimes than young white men, young Asian men or young Latino men. A November 2011 report by the Justice Department showed that young African-American men are just 1 percent of the population, yet are responsible for a disproportionate percentage of murders in the nation. 

Clinton suggested that people who disagree with her agenda are racists. “There is so much more to be done… we can’t be engaging in hateful rhetoric or incitement of violence, we need to be bringing people together … we need more love and kindness.”

http://www.breitbart.com/2016-presidential-race/2016/07/08/hillary-clinton-blame-whites-cops-shooting-deaths-young-black-men/

 

Black Lives Matter protesters sprayed with tear gas in Phoenix as rally spirals out of control and thousands demonstrate against police brutality, with cops on high alert following Dallas massacre

Black Lives Matter protesters have been sprayed with tear gas in Phoenix after a march against police brutality spiraled out of control.

Police also fired bean bag rounds and pepper spray at the protesters, who were seen running away and shielding their eyes.

One image showed a white man holding a Donald Trump ‘Make America Great Again’ placard interrupting the protest on Friday night.

Less than three hours after the demonstration began at 8pm, police declared the protest an ‘unlawful assembly’ and ordered people to leave after objects were thrown at officers, the Arizona Republic reported.

In Rochester, New York, the SWAT team arrived and police arrested 74 protesters who were blocking the streets. One organizer, Ashley Gantt, said they sat down because they did not want any movement to be misinterpreted as violence after the shootings in Dallas.

Other protests were calmer, with an estimated 5,000 people marching peacefully along a highway in Atlanta as they demanded justice for black men killed by police officers in recent days.

There was a heavy police presence at the Atlanta rally as protesters halted traffic, with officers on high alert following Thursday’s massacre in Dallas.

Gunman Micah Xavier Johnson, 25, shot 12 officers and two civilians on a rampage that killed five Dallas cops.

Friday evening’s protest came as police forces across the country braced for any fall-out from the horrific shooting in Texas.

Black Lives Matter protesters have been sprayed with tear gas in Phoenix after a march against police brutality spiraled out of control. Pictured, a white man holding a Donald Trump 'Make America Great Again' placard interrupting the protest on Friday night

Black Lives Matter protesters have been sprayed with tear gas in Phoenix after a march against police brutality spiraled out of control. Pictured, a white man holding a Donald Trump ‘Make America Great Again’ placard interrupting the protest on Friday night

A protester gets help after being knocked to the ground after being pepper sprayed by police as marchers numbering nearly 1,000 take to the streets to protest against the recent fatal shootings of black men by police

A protester gets help after being knocked to the ground after being pepper sprayed by police as marchers numbering nearly 1,000 take to the streets to protest against the recent fatal shootings of black men by police

Demonstrators crowd around the man and try to ease the burning with several jugs of milk, which is commonly used as an antidote against capsicum, the same chemical found in hot chili pepper

Experts advise using water or saline instead, before washing the area with non-oil based soap

Demonstrators try to ease the burning with several jugs of milk, which is commonly used as an antidote against capsicum, the same chemical found in hot chili peppers. Experts advise using water or saline instead, before washing the area with non-oil based soap

A protester raises him arms in front of a police blockade as marchers take to the streets to demonstrate against the recent fatal shootings of black men by police

A protester raises him arms in front of a police blockade as marchers take to the streets to demonstrate against the recent fatal shootings of black men by police

Police in riot gear move in to break up a group of marchers as hundreds take to the streets to protest against the fatal shootings 

Police in riot gear move in to break up a group of marchers as hundreds take to the streets to protest against the fatal shootings

Police declared the protest an ‘unlawful assembly’ by 11pm and ordered people to leave after objects were thrown at officers, the Arizona Republic reported (pictured, two protesters in downtown Phoenix last night)

Peaceful protests erupted around the country to protest the recent deaths of Alton Sterling and Philando Castile, but tensions were high in Phoenix

Peaceful protests erupted around the country to protest the recent deaths of Alton Sterling and Philando Castile, but tensions were high in Phoenix

Three people were arrested, according to Phoenix police. Crowds had thinned out considerably by 11pm as police repeatedly asked people to return home

Three people were arrested, according to Phoenix police. Crowds had thinned out considerably by 11pm as police repeatedly asked people to return home

People began gathering outside Phoenix City Hall for the march scheduled at 8pm on Friday. By 10pm, police had begun using pepper spray to control the crowds

People began gathering outside Phoenix City Hall for the march scheduled at 8pm on Friday. By 10pm, police had begun using pepper spray to control the crowds

Civil rights leader Reverend Jarrett Maupin led the march and tried to shut down the freeway at one point before diverting the crowds. Police had blocked off the ramps to Interstate 10 as a precaution (pictured, one man kneeling with his arms up before police in riot gear)

In Rochester, New York, the SWAT team arrived and police arrested 74 protesters who were blocking the streets

One organizer, Ashley Gantt, said they sat down because they did not want any movement to be misinterpreted as violence

Police shot bean bags into the crowd after rocks were reportedly thrown at them. While bean bags are meant to deliver a blow without penetrating the body like a bullet would, they can cause internal bleeding or break bones

Police departments around the country have taken extra precautions following the shooting at a protest in Dallas. Gunman Micah Xavier Johnson shot dead five police officers and injured seven more (pictured, demonstrators at the rally in Phoenix)

Police departments around the country have taken extra precautions following the shooting at a protest in Dallas. Gunman Micah Xavier Johnson shot dead five police officers and injured seven more (pictured, demonstrators at the rally in Phoenix)

In Rochester, New York, the SWAT team arrived and police arrested 74 protesters who were blocking the streets (pictured, one demonstrator in Phoenix holding the flag upside down, a signal for dire distress)

In Rochester, New York, the SWAT team arrived and police arrested 74 protesters who were blocking the streets (pictured, one demonstrator in Phoenix holding the flag upside down, a signal for dire distress)

Thousands more people took part in smaller protests across America, with demonstrations in Arkansas, Colorado, Louisiana, Massachusetts, Michigan, Nebraska, Pennsylvania, Utah and Washington, DC

Thousands more people took part in smaller protests across America, with demonstrations in Arkansas, Colorado, Louisiana, Massachusetts, Michigan, Nebraska, Pennsylvania, Utah and Washington, DC

Thousands more people took part in smaller protests across America, with demonstrations in Arkansas, Colorado, Louisiana, Massachusetts, Michigan, Nebraska, Pennsylvania, Utah and Washington, DC.

Also, in Los Angeles, rappers Snoop Dogg and The Game led a peaceful march to the LAPD’s headquarters, where they met with the mayor and police chief and urged improved relations between authorities and minority communities. Protests were also planned in Oakland and San Francisco on Friday night.

In Atlanta, demonstrators flooded the streets and brought traffic to a standstill Friday after gathering at the National Center for Civil and Human Rights near Centennial Olympic Park.

Police break up a group outside a store as nearly 1,000 protesters march in the streets to protest against the recent fatal shootings of two black men by police

Police break up a group outside a store as nearly 1,000 protesters march in the streets to protest against the recent fatal shootings of two black men by police

Police send out tear gas to break up marchers numbering nearly 1,000 as they take to the streets to protest 

Police send out tear gas to break up marchers numbering nearly 1,000 as they take to the streets to protest

Thousands of protesters have blocked a highway in Atlanta as they march through the city to demonstrate against police brutality

Thousands of protesters have blocked a highway in Atlanta as they march through the city to demonstrate against police brutality

'Who do you call when the murderer wears a badge?' An estimated 5,000 people halted traffic as they demanded justice for black men killed at the hands of police officers

‘Who do you call when the murderer wears a badge?’ An estimated 5,000 people halted traffic as they demanded justice for black men killed at the hands of police officers

There was a heavy police presence during the peaceful protest (pictured), with officers on high alert following Thursday's massacre of cops in Dallas

There was a heavy police presence during the peaceful protest (pictured), with officers on high alert following Thursday’s massacre of cops in Dallas

Friday evening's protest came as police forces across the country braced for any fall-out from the horrific shooting in Texas

Friday evening’s protest came as police forces across the country braced for any fall-out from the horrific shooting in Texas

Micah Johnson

Micah Johnson (pictured) told officers he was upset about recent shootings and wanted to kill whites, 'especially white officers'

Killer: Dallas gunman Micah Johnson (pictured) told officers he was upset about recent shootings and wanted to kill whites, ‘especially white officers’

Protesters chanted: ‘Hands up, don’t shoot.’

People protesting police brutality in Dallas on Thursday evening were belting out the same chant when Johnson first opened fire.

Tonight’s protests have been peaceful and no arrests have been made.

The marches are in response to the recent shootings of black men Alton Sterling and Philando Castile, who were shot by white police officers in Louisiana and Minnesota respectively.

 

'Hands up don't shoot': Demonstrators march through downtown Atlanta to protest the shootings of two black men by police officers

‘Hands up don’t shoot’: Demonstrators march through downtown Atlanta to protest the shootings of two black men by police officers

The marches are in response to the recent shootings of black men Alton Sterling and Philando Castile, who were shot by white police officers in Louisiana and Minnesota respectively

The marches are in response to the recent shootings of black men Alton Sterling and Philando Castile, who were shot by white police officers in Louisiana and Minnesota respectively

Sterling (pictured) was killed following a confrontation outside a Baton Rouge convenience store early Tuesday morning

Castile, 32, was shot dead by a cop during a traffic stop in Minnesota

Sterling (left) was killed following a confrontation outside a Baton Rouge convenience store early Tuesday morning. Castile (right), 32, was shot dead by a cop during a traffic stop in Minnesota

Police chiefs in New York, Washington, D.C, Boston, Las Vegas, St. Louis, and Nassau County have ordered officers to partner up for assignments.

The NYPD’s chief of department James O’Neill said until further notice, officers are banned from responding to calls alone. 

‘Effective immediately and until further notice, all uniform members of service are to be assigned in pairs,’ an internal memo from O’Neill says, according to WPIX reporter Myles Miller.

Demonstrators march through downtown Atlanta

Demonstrators march through downtown Atlanta

O’Neill added: ‘There will be no solo assignments citywide.’

Washington’s police chief Cathy Lanier ordered officers and supervisors in the capital to also pair up while on duty.

‘Looking at the type of attack that happened in Dallas, a two-man car, a four-man car, a 10-man car, isn’t going to make much of a difference,’ Lanier said, according to the Washington Post.

‘But it makes the officers feel much safer.’

Meanwhile, Cincinnati police spokeswoman Tiffaney Hardy says police will use two-officer patrols throughout the weekend, ‘then we will re-evaluate.’

A police union official says some officers had expressed desire to be in two-officer cars for increased safety.

Boston Police Department tweeted: ‘In light of the tragedy in Dallas and in the best interests of officer safety, all #BPD patrols will be conducted by two-officer units.’

The Las Vegas Police Department said officers will be operating in pairs because of reports of planned protests in cities across the country.

‘Based on reports of protests in several major cities across the US, on-duty #LVMPD officers will be working in pairs until further notice,’ the department tweeted.

In St Louis, Missouri, police chief Sam Dotson said all officers will also be required to wear bulletproof vests.

In a statement, Dotson said late on Thursday night: ‘Due to events unfolding in Dallas, Texas, effective immediately, all on-duty officers will work in pairs until further notice.

‘No police officers, park rangers or mashals will be sent or handle any assignments without a partner.

‘In addition to this, all personnel leaving any of the stations for enforcement activities will be required to wear their ballistic vest.’

He added: ‘Although locally we are not experiencing any civil unrest, this decision is precautionary and is to maximize the safety of officers and our community.’

The Nassau County Police Department officials said that all necessary steps were being taken to ensure the safety of police officers and the public.

In a statement on Friday, the department said: ‘Our thoughts and prayers are with the victims of this heinous act of violence and their families.

‘The NCPD is taking all necessary steps to ensure the safety of the public and our police officers.

‘We will intensify patrols in areas of public gatherings and near critical infrastructure.

‘Social media outlets will be intensely monitored and we request the public’s assistance in any way possible to stop threats to public safety.’

Five Dallas police officers were fatally shot and seven others wounded during a protest over the deaths of black men killed by police this week in Louisiana and Minnesota – the deadliest day for U.S. law enforcement since the September 11, 2001, terrorist attacks.

Police officers are on alert across the country in the wake of deadly sniper attacks in Dallas on Thursday that left five cops dead. Above, Dallas police chief David Brown (left) and Dallas Mayor Mike Rawlings 

Police officers are on alert across the country in the wake of deadly sniper attacks in Dallas on Thursday that left five cops dead. Above, Dallas police chief David Brown (left) and Dallas Mayor Mike Rawlings

Police chiefs in New York, Washington, D.C, Boston, Las Vegas, St. Louis, and Nassau County have ordered officers to partner up for assignment

Police chiefs in New York, Washington, D.C, Boston, Las Vegas, St. Louis, and Nassau County have ordered officers to partner up for assignment

http://www.dailymail.co.uk/news/article-3681287/Police-officers-alert-nationwide-wake-Dallas-shooting.html#ixzz4Dw2QrUBo

 

BLACK LIVES MATTER: PROGRESSIVE FINANCED VANGUARD OF SOCIALIST CONTROL

CIA sponsored Cloward–Piven strategy bankrolled by liberal dupes aims for race war and order out of chaos

Kurt Nimmo – JULY 10, 2016

Black Lives Matter: Progressive Financed Vanguard of Socialist Control

Is it possible liberal billionaires would support a racist group that markets white guilt for political gain and embraces activists calling for the lynching of white people and cops?
In November, members of Black Lives Matter (BLM) met behind closed doors with Democracy Alliance, a coterie of wealthy liberals who have pledged to fund leftist organizations.
The donor club was founded by former Clinton Treasury official Rob Stein. Members include the billionaire “philanthropist” George Soros, Taco Bell silver spoon baby Rob McKay, uber liberal Norman Lear, “meathead” Rob Reiner, co-founder of Tides Network Drummond Pike, SEIU boss Anna Burger (members of the union like to beat up opponents), and former Rockefeller Family Fund president Anne Bartley.
“The DA, as the club is known in Democratic circles, is recommending its donors step up check writing to a handful of endorsed groups that have supported the Black Lives Matter movement. And the club and some of its members also are considering ways to funnel support directly to scrappier local groups that have utilized confrontational tactics to inject their grievances into the political debate,” Politico reported.

Investigative journalist James Simpson has exposed connections between BLM and a constellation of leftist and Marxist groups, a number of them established as fronts by the Freedom Road Socialist Organization (FRSO).
“BLM is one of many projects undertaken by the FRSO,” writes Simpson. He points out that FRSO and BLM receive funding through the National Domestic Workers Alliance (NDWA). “FRSO/BLM organizations are generously supported by a universe of wealthy foundations. Some, like those employing BLM founders [Alicia Garza and Opal Tometi] receive money directly.”
Many FRSO connected leftist and Marxist groups are also funded by other wealthy individuals, foundations, and corporations, including Kellogg, Ben & Jerry’s, Soros Funds, Hewlett, Rockefeller, Heinz, and others.
The Ford Foundation tops the list of NDWA financial contributors. It has funded CIA cultural fronts since the 1950s.
“At times it seemed as if the Ford Foundation was simply an extension of Government in the area of international cultural propaganda. The Ford Foundation had a record of close involvement in covert actions in Europe, working closely with Marshall Plan and CIA officials on specific projects,” writes the author of The Cultural Cold War: The CIA and the World of Arts and Letters, Frances Stonor Saunders.
It may seem contradictory for the state and wealthy liberals—many undoubtedly brainwashed dupes—to support organizations and individuals calling for abolishing capitalism and advocating the most severe form of Marxist ideology.
As the late Gary Allen so eloquently pointed out (None Dare Call It Conspiracy), socialism is a perfect mechanism for controlling humanity.
“If one understands that socialism is not a share-the-wealth program, but is in reality a method to consolidate and control the wealth, then the seeming paradox of superrich men promoting socialism becomes no paradox at all. Instead it becomes the logical, even the perfect tool of power-seeking megalomaniacs. Communism, or more accurately, socialism, is not a movement of the downtrodden masses, but of the economic elite.”

http://www.infowars.com/black-lives-matter-progressive-financed-vanguard-of-socialist-control/

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Trump Rattles The American Okie Doke Obama Into Stuttering Empty Suit –The Great Pretender — The Truth Hurts — Get Out of Our Lives — Roll It Back To A Full Employment Growing Booming Economy with 67% Labor Participation Rate and Less Than 3% Unemployment Rate — Make America Great Again — Catch Me If You Can — Videos

Posted on June 4, 2016. Filed under: American History, Articles, Babies, Banking, Blogroll, Business, College, Communications, Congress, Constitution, Corruption, Crime, Culture, Documentary, Economics, Education, Elections, Employment, Entertainment, Faith, Family, Federal Government, Federal Government Budget, Films, Fiscal Policy, Foreign Policy, Freedom, Friends, government, government spending, Health Care, history, Illegal, Immigration, Internal Revenue Service (IRS), Investments, IRS, Language, Law, Legal, liberty, Life, Links, Literacy, Macroeconomics, media, Microeconomics, Monetary Policy, Money, Money, Movies, Narcissism, Newspapers, Obamacare, People, Philosophy, Photos, Police, Politics, Psychology, Radio, Radio, Rants, Raves, Raymond Thomas Pronk, Regulations, Resources, Security, Strategy, Talk Radio, Tax Policy, Taxation, Taxes, Television, Television, Television, The Pronk Pops Show, Unemployment, Video, War, Wealth, Welfare, Wisdom, Work, Writing | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

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Story 1: Trump Rattles The American Okie Doke Obama Into Stuttering Empty Suit –The Great Pretender — The Truth Hurts — Get Out of Our Lives — Roll It Back To A Full Employment Growing Booming Economy with 67% Labor Participation Rate and Less Than 3% Unemployment Rate — Make America Great Again — Catch Me If You Can — Videos

-A joke played on someone. Someone getting played for a fool.

-Also, someone who is fake or is a joke.

“I felt like a dumbass when that nigga hit me with the okie doke.”

“I keep it real homeboy. I ain’t no okie doke.”

Psychological projection is a theory in psychology in which humans defend themselves against their own unpleasant impulses by denying their existence while attributing them to others. For example, a person who is habitually rude may constantly accuse other people of being rude. It incorporates blame shifting.

Immigration moderation. Before any new green cards are issued to foreign workers abroad, there will be a pause where employers will have to hire from the domestic pool of unemployed immigrant and native workers. This will help reverse women’s plummeting workplace participation rate, grow wages, and allow record immigration levels to subside to more moderate historical averages.

https://www.donaldjtrump.com/positions/immigration-reform

sgs-empLabor-force-participation-under-Obama the-labor-force-participation-rate-tanked--heres-the-not-so-scary-reason-why 1606-Labor-Force-Participation Participation Rate1 U.S.-Nonfarm-Payrolls

George Carlin – The American Okie Doke

U.S. Labor Participation Rate – Graph of Reagan vs obama

Obama Tries to Trash Donald Trump and Turns into a Stuttering Mess

Obama attacks Trump in Indiana speech but won’t use his name

Obama Busts GOP Economic Myths

Obama takes a victory lap over Elkhart, Indiana’s resurgence

Why doesn’t Obama say Donald Trump’s name?

The Great Pretender Obama Says Don’t Fall For The Okie-Doke

No Help Wanted – Labor Participation Rate Lowest Since 1977 – Fox & Friends.

Labor participation has hit a 38-year low, and that’s a problem

Labor participation rate is down to unprecedented levels

Unemployment and the Unemployment Rate

Types of Unemployment

Top 10 Greatest Con Artists in Movies

Catch me if you can best scenes

Catch Me If You Can Movie- Check Fraud

Catch Me If You Can Trailer

To Tell the Truth: Frank William Abagnale Jr. (1977)

The Real Frank Abagnale, “Catch me if you can” man – CNN Red Chair

Catch Me If You Can: Frank Abagnale’s Story

Frank Abagnale, who evolved from being a brilliant young mastermind of international deception and fraud into one of the world’s most respected authorities on forgery and embezzlement, tells his life story. His intercontinental saga prompted Steven Spielberg to turn Abagnale’s life into the movie Catch Me If You Can starring Leonardo DiCaprio.

The Platters – The Great Pretender – HD (1955)

Data extracted on: June 2, 2016 (4:31:21 PM)

Labor Force Statistics from the Current Population Survey

Series Id:           LNS11300000
Seasonally Adjusted
Series title:        (Seas) Labor Force Participation Rate
Labor force status:  Civilian labor force participation rate
Type of data:        Percent or rate
Age:                 16 years and over

Download:
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
1980 64.0 64.0 63.7 63.8 63.9 63.7 63.8 63.7 63.6 63.7 63.8 63.6
1981 63.9 63.9 64.1 64.2 64.3 63.7 63.8 63.8 63.5 63.8 63.9 63.6
1982 63.7 63.8 63.8 63.9 64.2 63.9 64.0 64.1 64.1 64.1 64.2 64.1
1983 63.9 63.8 63.7 63.8 63.7 64.3 64.1 64.3 64.3 64.0 64.1 64.1
1984 63.9 64.1 64.1 64.3 64.5 64.6 64.6 64.4 64.4 64.4 64.5 64.6
1985 64.7 64.7 64.9 64.9 64.8 64.6 64.7 64.6 64.9 65.0 64.9 65.0
1986 64.9 65.0 65.1 65.1 65.2 65.4 65.4 65.3 65.4 65.4 65.4 65.3
1987 65.4 65.5 65.5 65.4 65.7 65.5 65.6 65.7 65.5 65.7 65.7 65.7
1988 65.8 65.9 65.7 65.8 65.7 65.8 65.9 66.1 65.9 66.0 66.2 66.1
1989 66.5 66.3 66.3 66.4 66.3 66.5 66.5 66.5 66.4 66.5 66.6 66.5
1990 66.8 66.7 66.7 66.6 66.6 66.4 66.5 66.5 66.4 66.4 66.4 66.4
1991 66.2 66.2 66.3 66.4 66.2 66.2 66.1 66.0 66.2 66.1 66.1 66.0
1992 66.3 66.2 66.4 66.5 66.6 66.7 66.7 66.6 66.5 66.2 66.3 66.3
1993 66.2 66.2 66.2 66.1 66.4 66.5 66.4 66.4 66.2 66.3 66.3 66.4
1994 66.6 66.6 66.5 66.5 66.6 66.4 66.4 66.6 66.6 66.7 66.7 66.7
1995 66.8 66.8 66.7 66.9 66.5 66.5 66.6 66.6 66.6 66.6 66.5 66.4
1996 66.4 66.6 66.6 66.7 66.7 66.7 66.9 66.7 66.9 67.0 67.0 67.0
1997 67.0 66.9 67.1 67.1 67.1 67.1 67.2 67.2 67.1 67.1 67.2 67.2
1998 67.1 67.1 67.1 67.0 67.0 67.0 67.0 67.0 67.2 67.2 67.1 67.2
1999 67.2 67.2 67.0 67.1 67.1 67.1 67.1 67.0 67.0 67.0 67.1 67.1
2000 67.3 67.3 67.3 67.3 67.1 67.1 66.9 66.9 66.9 66.8 66.9 67.0
2001 67.2 67.1 67.2 66.9 66.7 66.7 66.8 66.5 66.8 66.7 66.7 66.7
2002 66.5 66.8 66.6 66.7 66.7 66.6 66.5 66.6 66.7 66.6 66.4 66.3
2003 66.4 66.4 66.3 66.4 66.4 66.5 66.2 66.1 66.1 66.1 66.1 65.9
2004 66.1 66.0 66.0 65.9 66.0 66.1 66.1 66.0 65.8 65.9 66.0 65.9
2005 65.8 65.9 65.9 66.1 66.1 66.1 66.1 66.2 66.1 66.1 66.0 66.0
2006 66.0 66.1 66.2 66.1 66.1 66.2 66.1 66.2 66.1 66.2 66.3 66.4
2007 66.4 66.3 66.2 65.9 66.0 66.0 66.0 65.8 66.0 65.8 66.0 66.0
2008 66.2 66.0 66.1 65.9 66.1 66.1 66.1 66.1 66.0 66.0 65.9 65.8
2009 65.7 65.8 65.6 65.7 65.7 65.7 65.5 65.4 65.1 65.0 65.0 64.6
2010 64.8 64.9 64.9 65.2 64.9 64.6 64.6 64.7 64.6 64.4 64.6 64.3
2011 64.2 64.1 64.2 64.2 64.1 64.0 64.0 64.1 64.2 64.1 64.1 64.0
2012 63.7 63.8 63.8 63.7 63.7 63.8 63.7 63.5 63.7 63.8 63.6 63.7
2013 63.6 63.4 63.3 63.4 63.4 63.4 63.3 63.2 63.3 62.8 63.0 62.9
2014 62.9 63.0 63.2 62.8 62.8 62.8 62.9 62.9 62.8 62.9 62.9 62.7
2015 62.9 62.8 62.7 62.7 62.8 62.6 62.6 62.6 62.4 62.5 62.5 62.6
2016 62.7 62.9 63.0 62.8

Series Id:           LNS14000000
Seasonally Adjusted
Series title:        (Seas) Unemployment Rate
Labor force status:  Unemployment rate
Type of data:        Percent or rate
Age:                 16 years and over

Download:
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
1980 6.3 6.3 6.3 6.9 7.5 7.6 7.8 7.7 7.5 7.5 7.5 7.2
1981 7.5 7.4 7.4 7.2 7.5 7.5 7.2 7.4 7.6 7.9 8.3 8.5
1982 8.6 8.9 9.0 9.3 9.4 9.6 9.8 9.8 10.1 10.4 10.8 10.8
1983 10.4 10.4 10.3 10.2 10.1 10.1 9.4 9.5 9.2 8.8 8.5 8.3
1984 8.0 7.8 7.8 7.7 7.4 7.2 7.5 7.5 7.3 7.4 7.2 7.3
1985 7.3 7.2 7.2 7.3 7.2 7.4 7.4 7.1 7.1 7.1 7.0 7.0
1986 6.7 7.2 7.2 7.1 7.2 7.2 7.0 6.9 7.0 7.0 6.9 6.6
1987 6.6 6.6 6.6 6.3 6.3 6.2 6.1 6.0 5.9 6.0 5.8 5.7
1988 5.7 5.7 5.7 5.4 5.6 5.4 5.4 5.6 5.4 5.4 5.3 5.3
1989 5.4 5.2 5.0 5.2 5.2 5.3 5.2 5.2 5.3 5.3 5.4 5.4
1990 5.4 5.3 5.2 5.4 5.4 5.2 5.5 5.7 5.9 5.9 6.2 6.3
1991 6.4 6.6 6.8 6.7 6.9 6.9 6.8 6.9 6.9 7.0 7.0 7.3
1992 7.3 7.4 7.4 7.4 7.6 7.8 7.7 7.6 7.6 7.3 7.4 7.4
1993 7.3 7.1 7.0 7.1 7.1 7.0 6.9 6.8 6.7 6.8 6.6 6.5
1994 6.6 6.6 6.5 6.4 6.1 6.1 6.1 6.0 5.9 5.8 5.6 5.5
1995 5.6 5.4 5.4 5.8 5.6 5.6 5.7 5.7 5.6 5.5 5.6 5.6
1996 5.6 5.5 5.5 5.6 5.6 5.3 5.5 5.1 5.2 5.2 5.4 5.4
1997 5.3 5.2 5.2 5.1 4.9 5.0 4.9 4.8 4.9 4.7 4.6 4.7
1998 4.6 4.6 4.7 4.3 4.4 4.5 4.5 4.5 4.6 4.5 4.4 4.4
1999 4.3 4.4 4.2 4.3 4.2 4.3 4.3 4.2 4.2 4.1 4.1 4.0
2000 4.0 4.1 4.0 3.8 4.0 4.0 4.0 4.1 3.9 3.9 3.9 3.9
2001 4.2 4.2 4.3 4.4 4.3 4.5 4.6 4.9 5.0 5.3 5.5 5.7
2002 5.7 5.7 5.7 5.9 5.8 5.8 5.8 5.7 5.7 5.7 5.9 6.0
2003 5.8 5.9 5.9 6.0 6.1 6.3 6.2 6.1 6.1 6.0 5.8 5.7
2004 5.7 5.6 5.8 5.6 5.6 5.6 5.5 5.4 5.4 5.5 5.4 5.4
2005 5.3 5.4 5.2 5.2 5.1 5.0 5.0 4.9 5.0 5.0 5.0 4.9
2006 4.7 4.8 4.7 4.7 4.6 4.6 4.7 4.7 4.5 4.4 4.5 4.4
2007 4.6 4.5 4.4 4.5 4.4 4.6 4.7 4.6 4.7 4.7 4.7 5.0
2008 5.0 4.9 5.1 5.0 5.4 5.6 5.8 6.1 6.1 6.5 6.8 7.3
2009 7.8 8.3 8.7 9.0 9.4 9.5 9.5 9.6 9.8 10.0 9.9 9.9
2010 9.8 9.8 9.9 9.9 9.6 9.4 9.4 9.5 9.5 9.4 9.8 9.3
2011 9.1 9.0 9.0 9.1 9.0 9.1 9.0 9.0 9.0 8.8 8.6 8.5
2012 8.3 8.3 8.2 8.2 8.2 8.2 8.2 8.1 7.8 7.8 7.7 7.9
2013 8.0 7.7 7.5 7.6 7.5 7.5 7.3 7.3 7.3 7.2 6.9 6.7
2014 6.6 6.7 6.7 6.2 6.2 6.1 6.2 6.2 6.0 5.7 5.8 5.6
2015 5.7 5.5 5.5 5.4 5.5 5.3 5.3 5.1 5.1 5.0 5.0 5.0
2016 4.9 4.9 5.0 5.0

Series Id:           LNS13327709
Seasonally Adjusted
Series title:        (seas) Total unemployed, plus all marginally attached workers plus total employed part time for economic reasons, as a percent of all civilian labor force plus all marginally attached workers
Labor force status:  Aggregated totals unemployed
Type of data:        Percent or rate
Age:                 16 years and over
Percent/rates:       Unemployed and mrg attached and pt for econ reas as percent of labor force plus marg attached

Download:
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
1994 11.8 11.4 11.4 11.2 10.8 10.9 10.7 10.5 10.4 10.3 10.1 10.0
1995 10.2 9.9 9.9 10.0 10.0 10.1 10.1 10.0 10.1 9.9 10.0 10.0
1996 9.8 10.0 9.8 9.9 9.7 9.6 9.7 9.3 9.4 9.4 9.3 9.5
1997 9.4 9.4 9.1 9.2 8.8 8.8 8.6 8.6 8.7 8.4 8.3 8.4
1998 8.4 8.4 8.4 7.9 7.9 8.0 8.1 7.9 7.9 7.8 7.6 7.6
1999 7.7 7.7 7.6 7.6 7.4 7.5 7.5 7.3 7.4 7.2 7.1 7.1
2000 7.1 7.2 7.1 6.9 7.1 7.0 7.0 7.1 7.0 6.8 7.1 6.9
2001 7.3 7.4 7.3 7.4 7.5 7.9 7.8 8.1 8.7 9.3 9.4 9.6
2002 9.5 9.5 9.4 9.7 9.5 9.5 9.6 9.6 9.6 9.6 9.7 9.8
2003 10.0 10.2 10.0 10.2 10.1 10.3 10.3 10.1 10.4 10.2 10.0 9.8
2004 9.9 9.7 10.0 9.6 9.6 9.5 9.5 9.4 9.4 9.7 9.4 9.2
2005 9.3 9.3 9.1 8.9 8.9 9.0 8.8 8.9 9.0 8.7 8.7 8.6
2006 8.4 8.4 8.2 8.1 8.2 8.4 8.5 8.4 8.0 8.2 8.1 7.9
2007 8.4 8.2 8.0 8.2 8.2 8.3 8.4 8.4 8.4 8.4 8.4 8.8
2008 9.2 9.0 9.1 9.2 9.7 10.1 10.5 10.8 11.0 11.8 12.6 13.6
2009 14.2 15.2 15.8 15.9 16.5 16.5 16.4 16.7 16.7 17.1 17.1 17.1
2010 16.7 17.0 17.1 17.1 16.6 16.4 16.4 16.5 16.8 16.6 16.9 16.6
2011 16.2 16.0 15.9 16.1 15.8 16.1 15.9 16.1 16.4 15.8 15.5 15.2
2012 15.2 15.0 14.6 14.6 14.8 14.8 14.8 14.6 14.8 14.4 14.4 14.4
2013 14.5 14.3 13.8 14.0 13.8 14.2 13.8 13.6 13.7 13.7 13.1 13.1
2014 12.7 12.6 12.6 12.3 12.1 12.0 12.2 12.0 11.8 11.5 11.4 11.2
2015 11.3 11.0 10.9 10.8 10.7 10.5 10.4 10.3 10.0 9.8 9.9 9.9
2016 9.9 9.7 9.8 9.7

Obama in Elkhart: Voters should beware of politicians ‘preying’ on economic fears

President Barack Obama says people should beware of politicians who are “preying” on Americans’ anxieties about the economy in a bid to win headlines and votes.

Obama isn’t naming names. But he says some politicians are running on anti-trade, anti-immigrant policies in an effort to play to people’s fears.

Obama made the remarks during a visit to Elkhart, Indiana. He’s holding up the manufacturing community as a symbol of the nation’s climb from recession to recovery.

Obama says his administration’s “smart” decisions played a part in helping Elkhart come back. He says he wants to bust “myths” that Democratic policies are bad for the economy.

Indiana’s Republican governor, Mike Pence, says Elkhart had rebounded “in spite of Obama’s policies” and that those policies inflicted onerous federal burdens on Indiana.

To Obama, lingering challenges aren’t enough to forestall a planned victory lap. Arguing that his controversial $840 billion stimulus package was ultimately vindicated, Obama will call on the next president to be willing to spend big to enable further economic growth.

The president is making his eighth visit to the state since taking office in January 2009. Here are details on the visits:

  • Feb. 2, 2009: Travels to Elkhart for his first event outside the Washington area since taking office 13 days earlier and speaks about his economic stimulus plan at Concord High School as Elkhart County’s unemployment rate was about 15 percent.
  • May 17, 2009: Delivers commencement address at the University of Notre Dame in South Bend, an appearance that drew weeks of criticism from many Catholic bishops and abortion opponents. Then travels to Indianapolis for two Democratic Party fundraisers.
  • Aug. 5, 2009: Visits Monaco RV factory in Wakarusa and announces $2.4 billion in grants for electric car production.
  • Nov. 23, 2010: Obama and Vice President Joe Biden both fly into Grissom Air Reserve Base then travel to a Chrysler transmission factory in Kokomo, where Obama promotes the U.S. auto industry revival.
  • May 6, 2011: Travels to an Allison Transmission factory in Indianapolis and speaks about how the hybrid transmissions made there can help reduce the country’s need for imported oil.
  • Oct. 3, 2014: Travels to Millennium Steel Services, a minority-owned steel processor near Princeton, and speaks about the nation’s manufacturing gains and the improving U.S. economy.
  • Feb. 6, 2015: Visits an Ivy Tech Community College campus in Indianapolis to tout his proposal for offering two years of college free.
  • June 1, 2016: Scheduled to speak about the economy at Concord Community High School in Elkhart and then take part in a PBS town hall at Elkhart’s Lerner Theatre.

Obama in Elkhart: Voters should beware of politicians ‘preying’ on economic fears

Psychological projection

From Wikipedia, the free encyclopedia
Part of a series of articles on
Psychoanalysis
Unofficial psychoanalysis symbol

Psychological projection is a theory in psychology in which humans defend themselves against their own unpleasant impulses by denying their existence while attributing them to others.[1] For example, a person who is habitually rudemay constantly accuse other people of being rude. It incorporates blame shifting.

According to some research, the projection of one’s negative qualities onto others is a common process in everyday life.[2]

Historical precursors

A prominent precursor in the formulation of the projection principle was Giambattista Vico,[3][4] and an early formulation of it is found in ancient Greek writer Xenophanes, which observed that “the gods of Ethiopians were inevitably black with flat noses while those of the Thracians were blond with blue eyes.”[citation needed] In 1841, Ludwig Feuerbach was the first to employ this concept as the basis for a systematic critique of religion.[5][6][7]

Psychoanalytic developments

Projection (German: Projektion) was conceptualised by Freud in his letters to Wilhelm Fliess,[8] and further refined by Karl Abraham and Anna Freud. Freud considered that in projection thoughts, motivations, desires, and feelings that cannot be accepted as one’s own are dealt with by being placed in the outside world and attributed to someone else.[9] What the ego repudiates is split off and placed in another.[10]

Freud would later come to believe that projection did not take place arbitrarily, but rather seized on and exaggerated an element that already existed on a small scale in the other person.[11] (The related defence of projective identification differs from projection in that there the other person is expected to become identified with the impulse or desire projected outside,[12] so that the self maintains a connection with what is projected, in contrast to the total repudiation of projection proper.)[13]

Melanie Klein saw the projection of good parts of the self as leading potentially to over-idealisation of the object.[14] Equally, it may be one’s conscience that is projected, in an attempt to escape its control: a more benign version of this allows one to come to terms with outside authority.[15]

Theoretical examples

Projection tends to come to the fore in normal people at times of crisis, personal or political[16] but is more commonly found in the neurotic or psychotic[17] in personalities functioning at a primitive level as in narcissistic personality disorder or borderline personality disorder.[18]

Carl Jung considered that the unacceptable parts of the personality represented by the Shadow archetype were particularly likely to give rise to projection, both small-scale and on a national/international basis.[19] Marie-Louise Von Franz extended her view of projection, stating that “wherever known reality stops, where we touch the unknown, there we project an archetypal image”.[20]

Psychological projection is one of the medical explanations of bewitchment used to explain the behavior of the afflicted children at Salem in 1692. The historian John Demos asserts that the symptoms of bewitchment experienced by the afflicted girls were due to the girls undergoing psychological projection of repressed aggression.[21]

Practical examples

  • Victim blaming: The victim of someone else’s accident or bad luck may be offered criticism, the theory being that the victim may be at fault for having attracted the other person’s hostility.[22]
  • Projection of marital guilt: Thoughts of infidelity to a partner may be unconsciously projected in self-defence on to the partner in question, so that the guiltattached to the thoughts can be repudiated or turned to blame instead, in a process linked to denial.[23]
  • Bullying: A bully may project his/her own feelings of vulnerability onto the target(s) of the bullying activity. Despite the fact that a bully’s typically denigrating activities are aimed at the bully’s targets, the true source of such negativity is ultimately almost always found in the bully’s own sense of personal insecurityand/or vulnerability.[24] Such aggressive projections of displaced negative emotions can occur anywhere from the micro-level of interpersonal relationships, all the way up through to the macro-level of international politics, or even international armed conflict.[19]
  • Projection of general guilt: Projection of a severe conscience[25] is another form of defence, one which may be linked to the making of false accusations, personal or political.[19]
  • Projection of hope: Also, in a more positive light, a patient may sometimes project his or her feelings of hope onto the therapist.[26]

Counter-projection

Jung wrote, “All projections provoke counter-projection when the object is unconscious of the quality projected upon it by the subject.”[27] Thus, what is unconscious in the recipient will be projected back onto the projector, precipitating a form of mutual acting out.[28]

In a rather different usage, Harry Stack Sullivan saw counter-projection in the therapeutic context as a way of warding off the compulsive re-enactment of apsychological trauma, by emphasising the difference between the current situation and the projected obsession with the perceived perpetrator of the original trauma.[29]

Clinical approaches

Drawing on Gordon Allport‘s idea of the expression of self onto activities and objects, projective techniques have been devised to aid personality assessment, including the Rorschach ink-blots and the Thematic Apperception Test (TAT).[30]

Projection may help a fragile ego reduce anxiety, but at the cost of a certain dissociation, as in dissociative identity disorder.[31] In extreme cases, an individual’s personality may end up becoming critically depleted.[32] In such cases, therapy may be required which would include the slow rebuilding of the personality through the “taking back” of such projections.[33]

Criticism

Some studies were critical of Freud’s theory. Research supports the existence of a false-consensus effect whereby humans have a broad tendency to believe that others are similar to themselves, and thus “project” their personal traits onto others. This applies to good traits as well as bad traits and is not a defense mechanism for denying the existence of the trait within the self.[34]

Instead, Newman, Duff, and Baumeister (1997) proposed a new model of defensive projection. In this view, people try to suppress thoughts of their undesirable traits, and these efforts make those trait categories highly accessible—so that they are then used all the more often when forming impressions of others. The projection is then only a by-product of the real defensive mechanism.[35]

See also

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Yaron Brook — Free Market Revolution — Videos

Posted on April 17, 2016. Filed under: American History, Banking, Blogroll, Books, Business, College, Constitution, Documentary, Economics, Education, Employment, Federal Government Budget, Fiscal Policy, Freedom, government, government spending, history, History of Economic Thought, Law, Life, Links, Literacy, Macroeconomics, media, Microeconomics, Monetary Policy, Money, Non-Fiction, People, Philosophy, Photos, Rants, Raves, Tax Policy, Trade Policiy, Video, Wealth, Welfare, Wisdom, Work | Tags: , , , , , , |

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Yaron Brook: Free Market Revolution

Inequality: Should We Care?

Objectivism Is Radical (and Applying It Can Be Hard) (OCON 2013)

Why Bad Economics Won’t Go Away

Yaron Answers: How Can Scandinavian Countries Perform So Well Economically?

The Power of Choice: The Life and Ideas of Milton Friedman

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Trump Attacked By Protester and Secret Service Reacts In Dayton, Ohio — Trump Postpones Chicago Rally Due To George Soros Funded Moveon.org, Occupy Wall Street, Anarchists, Socialists, Communist Inspired Protest — Lying Lunatic Left Losers — The Obama Legacy — Videos

Posted on March 12, 2016. Filed under: American History, Articles, Blogroll, Communications, Congress, Constitution, Corruption, Crisis, Demographics, Employment, Faith, Family, Federal Government, Foreign Policy, Freedom, Friends, government, government spending, history, liberty, Life, Links, Macroeconomics, media, Microeconomics, People, Philosophy, Photos, Police, Political Correctness, Politics, Rants, Raves, Resources, Strategy, Talk Radio, Taxation, Taxes, Unemployment, Unions, Video, Welfare, Wisdom, Work | Tags: , , , , , , , , , , , |

moveongoerge sorosObama_soros_atspeech soros-mediamatterssoros005

DONALD TRUMP Almost Got Attacked By Protester At Dayton OHIO RALLY

Saturday, March 12, 2016: At a Donald Trump for President rally in Dayton, OH, the U.S. Secret Service had to step in to protect Mr. Trump after a scare from a protester.

LIVE Donald Trump Dayton Ohio Rally at the Dayton International Airport (3-12-16)

LIVE Donald Trump Dayton Ohio Rally – Donald Trump’s speech at the rally in Dayton, Ohio at the Dayton International Airport on Saturday, March 12, 2016.

Donald Trump on Cancelling Chicago Rally On Fox & Friends

Donald Trump Interview On Violent Protesters & Why Chicago Rally Was Cancelled 3/11/2016

Donald Trump Chicago Riots (3-11-16) Trump Chicago Rally Turns To Riot! (Police Fight Clash & Chaos)

Kelly File: March 11, Donald Trump rally cancelled in Chicago, security concerns, Clash at Rally

Trump Cancels Rally, Scuffles Erupt

Donald Trump Protesters And Chicago Police CLASH

The Moment Donald Trump Chicago Rally Was Cancelled & The Chaos That Ensued (3-11-16)

Friday, March 11, 2016: GOP Presidential front-runner Donald Trump planned to hold a rally in Chicago at the University of Illinois Chicago Pavilion. The event was cancelled due to security concerns.

Watch the moment it was announced the rally was cancelled and the chaos that ensued.

MoveOn.Org Endorses Bernie Sanders

O’Reilly on George Soros

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Richard Epstein, George Soros, and Bruce Caldwell Discuss Hayek’s Constitution of Liberty

Bill O’Reilly says satircal ad by MoveOn org a ‘threat from the far left’ and Obama’s ‘culpable’

Far-Left Anarchists With MoveOn.Org and Bernie Sanders Take Credit For Chicago Political Mayhem…

It appears the origin for the violence in Chicago tonight originates from the alignment of various left wing teams: Occupy Wall Street, Anarchists, the Soros funded MoveOn.Org, F**k The Police, Black Lives Matter, and organized with the campaign team of Bernie Sanders:

bernie protests
bernie protest 3
bernie protests 2

MoveOn.Org has now officially taken credit for the chaos – Statement HERE – and below.

move on 2

(Link To Statement)

FTP chicago

FTP means “F**k The Police”

MoveOn has been an advocacy group for the Bernie Sanders campaign as noted below in their celebration of the win in Michigan:

move on 1

(link to prior statement)

The alignment of Occupy Wall Street, Anarchists, F**k The Police (FTP) and Black Lives Matter (BLM) groups has been growing since 2010/2011.  The events in Ferguson, Missouri in 2014/2015 brought in the Pro-Islamist contingents to also coordinate the anti-American sentiment.

Saint Louis University

Occupy Wall Street 2011

Occupy Wall Street 2011

Ferguson 2014

Tonight’s outcome in Chicago is entirely caused by these same Left-Wing ideologues, professional provocateurs, communists and all the progressive antagonists who hate America, and the concept of American Exceptionalism…

http://theconservativetreehouse.com/2016/03/11/far-left-anarchists-with-moveon-org-and-bernie-sanders-take-credit-for-chicago-political-mayhem/

SOROS FUNDED MOVEON.ORG TAKES CREDIT FOR VIOLENCE IN CHICAGO

A precursor to activity the organization will engage in as as the election approaches

Donald Trump addressed crowds in Ohio Saturday to condemn last night’s bloody scenes as ‘disgusting’, saying it would have been a ‘tremendous rally’ but descended into violence because of what he called a ‘planned attack’ by ‘professional wiseguys’.

But his speech was disturbed after one crowd member tried to rush the stage and threw an object -it is unclear what – causing four Secret Service personnel to quickly leap to the stage in his aid.

The Republican candidate looked visibly rattled as the offending person was escorted out.

Trump did not explain what had happened, but said: ‘Thank you for the warning. I was ready for ’em, but it’s much better if the cops do it, don’t we agree?’

Trump visibly shaken by security breach during rally

Trump's speech was disturbed after one crowd member tried to rush the stage and threw an object -it is unclear what

The disturbance caused four Secret Service personnel to quickly leap to the stage in his aid

The disturbance caused four Secret Service personnel to quickly leap to the stage in his aid

The man has since been arrested and is due to face assault charges.

In his first official address since last night’s Chicago rally, which went into melt down after bloody brawls and loud demonstrations broke out amid racial tensions, he went on to defend his ‘nice’ supporters and blamed Obama for ‘dividing the country’.

As the dust settled in Chicago, hundreds gathered in Wright Brothers Aero Hangar near Dayton, many of whom had queued since midnight last night and packed out the venue to full capacity.

The billionaire businessman denounced Obama’s leadership for ‘dividing America’, despite the obvious division seen between the 10, 000 protesters and Trump supporters seen in Chicago last night.

He referred to a border that is like a piece of ‘Swiss cheese’ as one of the factors that has ‘divided the country, black versus white, income groups and congress’.

The Secret Service agents then form a protective shield around Trump after someone tried to jump the barrier

The Secret Service agents then form a protective shield around Trump after someone tried to jump the barrier

The Republican candidate looked visibly rattled as the offending person was escorted out

The Republican candidate looked visibly rattled as the offending person was escorted out

He then pointed to the back of the room: ‘And if there’s a group over there, let’s just throw them out’, amid cheers from the crowd. Several people were escorted out during Trump’s address.

Trump also addressed his rivals, who were quick to denounce last night’s scenes as a result of the ‘toxic environment’ that he has created.

He said: ‘I watched little Marco and Liar Ted… They said: ‘At our rallies we would never have anything like that’

But they don’t have any people at their rallies ! No one cares! Their rallies are called Town hall meetings because about four people show up.’

Where's Trump? Supporters wait for the much anticipated appearance of the republican frontrunner, who eventually showed up nearly an hour late

Where’s Trump? Supporters wait for the much anticipated appearance of the republican frontrunner, who eventually showed up nearly an hour late

Donald Trump says Chicago scuffles were caused by ‘wise guys’

He added: ‘They wan’t me to stand up today and tell my people to be nice, my people are nice!

‘They were taunted, they were harassed. A lot of those represented Bernie, our Communist friend. Not too many Hillary – no fervor.’

He went one further and later tweeted: ‘It is Clinton and Sanders people who disrupted my rally in Chicago – and then they say I must talk to my people. Phony politicians!’

But Bernie Sanders has since released a statement calling Trump out as a ‘pathological liar’ and strongly denied that he was the incentive behind the anti-Trump protesters at the Chicago rally.

But those who were expecting the Republican candidate to extend a peace offering at today’s Ohio event, will have been disappointed.

Trump showed no signs of backing down on his most divisive policy: The building of a wall around the border of Mexico.

He said: ‘We have people that are so amazing, loyal to the country and want to see things happen.

They want great security, strong military, care for our vets… they want a border and they want a wall!’

The jubilant crowd then erupted into cheers and began chanting: ‘Build a wall! Build a wall!’

To which Trump replied: ‘We will build a wall don’t you worry folks.’

Bloody brawl: Tensions reached breaking point last night as Trump's Chicago rally was forced to be shut down after a series of physical brawls and loud demonstrations

Torn in half: An opponent of Businessman and Republican presidential candidate Donald Trump holds up a campaign torn in half as a Trump campaign rally is cancelled for public safety reasons

Temperatures rose as the clash between anti-Trump protesters and pro-Donald supporters led many to be escorted out by police 

Temperatures rose as the clash between anti-Trump protesters and pro-Donald supporters led many to be escorted out by police

Earlier that day: Republican presidential candidate Donald Trump speaks during a campaign rally in St. Louis. Multiple law enforcement sources told DailyMail.com that there was a credible threat against Trump in Chicago

Spilling into the streets: Protesters and attendees at the trump rally fought in the streets after the rally was cancelled due to what Trump said was a safety concern 

Spilling into the streets: Protesters and attendees at the trump rally fought in the streets after the rally was cancelled due to what Trump said was a safety concern

The GOP front-runner is scheduled to campaign Saturday in Ohio — Dayton and Cleveland — before an evening event in Kansas City, Missouri.

Trump also responded to last night’s Chicago rally meltdown earlier today, condemning yesterday’s ‘thugs’ for ‘energizing America’.

His tweet: ‘The organized group of people, many of them thugs, who shut down our First Amendment rights in Chicago, have totally energized America!’

Last night saw unprecedented scenes inside the University of Illinois at Chicago Pavilion between an anti-Trump mob and Chicagoans who came to hear the Republican front-runner speak.

Chicago police say two officers were injured when supporters during the clashed with protesters Friday after he abruptly canceled a campaign rally.

Police say the two officers were taken to a hospital for treatment and released.

While outside, an impatient group of thousands more massed. Temperatures rose.

Around 10, 000 protesters were to said to have RSVP’d to the event.

Multiple law enforcement sources told DailyMail.com that there was a credible threat against Trump from groups of protesters who planned to storm the stage.

News of the shutdown in Chicago came hours after a black activist in St.Louis, who gave his name as Anthony Cage, was filmed being escorted into a police van by two St. Louis officers with blood across his face and down the front of his sweater after clashing with Trump supporters.

After the campaign event was officially canceled, raucous protesters spilled out onto the street of Chicago and clashed with law enforcement officers.

Police confirmed at least six arrests. One journalist was reportedly detained as well.

Donald Trump responded with this message the morning after his rally in Chicago got shut down on Twitter

Donald Trump responded with this message the morning after his rally in Chicago got shut down on Twitter

Heated: Unprecedented scenes inside the University of Illinois at Chicago Pavilion between an anti-Trump mob and Chicagoans who came to hear the Republican front-runner speak

Heated: Unprecedented scenes inside the University of Illinois at Chicago Pavilion between an anti-Trump mob and Chicagoans who came to hear the Republican front-runner speak

Multiple law enforcement sources told DailyMail.com there was a credible threat against Trump from groups of protesters who planned to storm the stage

Multiple law enforcement sources told DailyMail.com there was a credible threat against Trump from groups of protesters who planned to storm the stage

Blows: Police confirmed at least six arrests and one journalist was reportedly detained as well

Blows: Police confirmed at least six arrests and one journalist was reportedly detained as well

On the street: Trump supporters and protesters clash outside the UIC Pavilion after the cancelled rally for the Republican presidential candidate in Chicago

On the street: Trump supporters and protesters clash outside the UIC Pavilion after the cancelled rally for the Republican presidential candidate in Chicago

Screaming crowd of protesters take over Trump’s Chicago rally

RESPONSE TO TRUMP’S RALLY BEING SHUT DOWN

Ted Cruz: Ted Cruz is responding to Donald Trump’s cancellation of his Chicago rally, saying the billionaire has created ‘an environment that encourages this sort of nasty discourse.’ The Texas senator is calling it a ‘sad day.’

He says, ‘Political discourse should occur in this country without the threat of violence, without anger and rage and hatred directed at each other.’

Cruz says blame for the events in downtown Chicago rests with the protesters but ‘in any campaign responsibility starts at the top.’

Cruz says, ‘When the candidate urges supporters to engage in physical violence, to punch people in the face, the predictable consequence of that is that is escalates. Today is unlikely to be the last such incidence.’

Marco Rubio: Senator Marco Rubio said Friday night that this is a ‘very disturbing moment in our political discourse’ and pointed to ‘real significant anger and frustration at the direction of the country.’

‘America is better than this,’ Rubio said on a call to Fox News. ‘We don’t have to tear each other apart.’

Rubio said Trump is not entirely to blame for tonight’s events but the Republican front-runner ‘does bear responsibility for other things that have happened at his events,’ he said before pointing to an example in which Trump said he wished he could punch a protester in the face.

Rubio also blamed President Obama for the current divide in America. He said: ‘President Obama has spent the last eight years dividing Americans along haves and have-nots, along ethnic lines, racial lines in order to win elections.’

‘I think this has gone to the next level here and I think we’re seeing the consequences in it,’ Rubio added.

Rubio called some of Trump’s dissenters ‘professional protesters’ he claims were paid to be there and said that leftists have a mentality that,’  if you don’t like what someone’s saying, you can just shut them down.’

John Kasich: ‘Tonight the seeds of division that Donald Trump has been sowing this whole campaign finally bore fruit, and it was ugly. Some let their opposition to his views slip beyond protest into violence but we can never let that happen,’ reads a statement from the Ohio Governor.

‘I urge people to resist that temptation and rise to a higher level. Now is the time for Americans to come together and stand firm for what we know is true: We are reat because we are a peacefule people who live by the rule of Law,’ it continues.

We are stronger together, we will reject those who try to divide us for personal gain and we will do it the right way- at the ballot box,’ it concludes.

Hillary Clinton: ‘The divisive rhetoric we are seeing should be of grave concern to us all. We all have our differences, and we know many people across the country feel angry. We need to address that anger together. All of us, no matter what party we belong to or what views we hold, should say loudly and clearly that violence has no place in our politics, we should use our words and deeds to bring Americans together. Last year in Charleston, South Carolina an evil man walked into a church and murdered 9 people. The families of those victims came together and melted hearts in the statehouse and the confederate flag came down. That should be the model we for to overcome painful divisions in our country.’

Police:  A spokesman for the Chicago Police Department says the agency never recommended that Republican presidential candidate Donald Trump cancel his campaign rally in the city.

CPD spokesman Anthony Guglielmi told The Associated Press that the department never told the Trump campaign there was a security threat at the University of Illinois at Chicago venue. He said the department had sufficient manpower on the scene to handle any situation.

Guglielmi says the university’s police department also did not recommend that Trump call off the event. He says the decision was made ‘independently’ by the campaign.

Trump cancelled the rally in Chicago due to what organizers said were safety concerns after protesters packed into the arena where it was to take place.

Trump afterward told MSNBC in a telephone interview that he canceled the event because he didn’t ‘want to see people hurt or worse.’ He said he thinks he ‘did the right thing.’

Guglielmi says Trump never arrived at the Chicago venue.Reports swirled that rioters were smashing cars parked in the venue’s main garage. One outburst caught on a police scanner suggested a protester in the resulting scrum brandished a firearm.

Chicago police confirmed that two officers were injured, including one who suffered a deep gash when he was struck by a flying bottle.

‘It is unfortunate that parties on both sides allowed their political views to become confrontational,’ Police Interim Superintendent John Escalante said Friday night.

Trump appeared on MSNBC, lamenting how he was squelched, while live video of the chaos played.

‘We have a country that’s so divided that even you don’t understand it,’ he told anchor Chris Matthews. ‘I’ve never seen anything like it, and this has been going on for years.’

‘There’s a lot of anger in the country, and it’s very sad to see actually,’ he said.

‘We had literally over 25,000 people who wanted to come today. It’s incredible,’ Trump explained, saying that he had made the decision to cancel his appearance.

Busy night: Police break up skirmishes between demonstrators and supporters of Republican presidential candidate Donald Trump that broke out after it was announced a rally at the University of Illinois at Chicago would be postponed

Busy night: Police break up skirmishes between demonstrators and supporters of Republican presidential candidate Donald Trump that broke out after it was announced a rally at the University of Illinois at Chicago would be postponed

 Trump protesters and supporters clashed outside of the Chicago rally after it was cancelled due to the teeming number of protesters at the event 

 Trump protesters and supporters clashed outside of the Chicago rally after it was cancelled due to the teeming number of protesters at the event

Trump protesters and supporters clash outside Chicago rally

‘Nobody was hurt and hopefully we can keep that going. That’s why I did this today: we don’t want anyone to get hurt, or worse.’

Asked what he would tell the protesters who seem to hate him so much, Trump said America needed an influx of jobs – especially for African-Americans whose unemployment rate is as high as 59 per cent.

‘You have to bring back jobs! I’d be angry too,’ he said. ‘We have to bring jobs back. These kids are not getting jobs.’

Chris Matthews asked Trump why he mocked a protester earlier, telling him to go get a job. Trump said:

‘He was a very nasty guy, he was very very loud, very boisterous and he was swinging his fists. He just looked to me like somebody that frankly… Maybe he did have a job maybe he did not. But there’s nothing wrong with saying go get a job, but the fact is it’s not easy to get jobs.’

‘He was mad long before I said that. He was jumping up and down, he could have been dangerous.’

‘Some of these protesters are very dangerous people.’

The real estate tycoon predicted that fallout from Friday’s clashes wouldn’t hurt his White House bid.

‘You can’t even have a rally in this country anymore without violence,’ Trump lamented. ‘I think a lot of people think that it was wrong that we were stopped.’

‘We can’t have a rally in a major city in this country!’ he complained. ‘What happened to the right to free speech?’

Cheering: A supporter of Republican presidential candidate Donald Trump tries to pump up the crowd before a rally on the campus of the University of Illinois-Chicago on Friday 

Supporters: Trump supporters hold signs after Republican U.S. presidential candidate Donald Trump cancelled his rally at the University of Illinois at Chicago

Supporters: Trump supporters hold signs after Republican U.S. presidential candidate Donald Trump cancelled his rally at the University of Illinois at Chicago

Confrontations in Chicago boil overnight

Matthews challenged Trump on the wisdom of staging a rally in a racial powderkeg city like Chicago.

‘It shouldn’t matter,’ he fired back. ‘Whoever lives in this city, it shouldn’t make a difference. We shouldn’t be restricted from having a rally here because of ethnic makeup.’

‘I think we did the right thing,’ he said. ‘A lot of people are saying we did the right thing and it looks like it’s going to be just fine.’

Following the cancellation of the rally, Ben Carson, who recently endorsed Trump, said: ‘If your expression is shutting down somebody else’s planned expression, you’re interfering with their rights.’

Fox anchor Sean Hannity spoke with Donald Trump on Friday night who said of the protesters: ‘This is a very organized group and I think not a good group that really stifled first amendment rights. And you know, I think it’s interesting if we ever did that to them it would be a national disgrace, a national story and the likes of which you’ve never seen.’

‘But when they do it to us it’s a very big deal,’ he added.

Simmering racial tensions were at the heart of last night's fracas. Here, an anti-Trump supporter wears a Black Lives Matter T-Shirt 

Simmering racial tensions were at the heart of last night’s fracas. Here, an anti-Trump supporter wears a Black Lives Matter T-Shirt

Chicago protests at Trump rally Friday night

Inside the arena an hour earlier, ‘fine’ was the last word witnesses would have used to describe the scene as left-wing activists had their own seating section – or five.

They shouted ‘Bernie! Bernie! Bernie!’ and ‘We did it!’ as a public address announcement declared the night over.

Community organizers were out in force, chanting ‘Latinos Unidos’ slogans and jawing en masse at the Republican front-runner’s supporters.

By the time the event was officially ‘postponed,’ activist chants of ‘Si! Se puede!’ and ‘We don’t give a f***’ dueled with pro-Trump groups screaming ‘USA! USA!’ at the top of their lungs.

The groups kept screaming at each other, waving signs – both physical posters and gang signs – long after the announcement.

Political commentators noted last night that known protesters were admitted into the convention room despite the clear intention that they were intending to disrupt proceedings

A Facebook group that calls itself ‘Trump Rally Protest – Chicago’ gained interest of 19, 000 supporters in the lead up to last night’s fracas.

The group said it would be protesting against Trump’s ‘complete and total shutdown of all Muslims entering the United States’, because he ‘has generalized the entire Mexican immigrant community as criminals and rapists’ and because of his ‘childlike temperament that would jeopardize our national security and potentially start unnecessary conflicts’ among other things.

One Facebook group called on anti Trump supporters to attend the Chicago rally last night and peacefully protest

One Facebook group called on anti Trump supporters to attend the Chicago rally last night and peacefully protest

In another state: Police detained Anthony Cage after a fight between supporters and opponents of U.S. Republican presidential candidate Donald Trump, ahead of his speech outside the Peabody Opera House in St. Louis on Friday

In another state: Police detained Anthony Cage after a fight between supporters and opponents of U.S. Republican presidential candidate Donald Trump, ahead of his speech outside the Peabody Opera House in St. Louis on Friday

Bloodied protester escorted out of Trump St Louis rally

Two fistfights broke out. Police raced to one corner of the arena, and then the next. Cheers rose and fell like the jangle of fans at a bullfight.

‘Attention! The event is now over. Please exit the building!’ the public address announcer blared repeatedly. No one cared.

Bernie Sanders campaign signs waved. One man hoisted a brightly colored poster that read: ‘Trump Hates Puppies.’

A twentysomething woman got in his face.

‘Build that wall!’ she screamed. ‘Build it now! Build it high! Build it ten feet higher!’

The Trump campaign issued a statement as chaos reached its apex.

‘Mr. Trump just arrived in Chicago and after meeting with law enforcement has determined that for the safety of all of the tens of thousands of people that have gathered in and around the arena, tonight’s rally will be postponed to another date,’ it read.

Thank you very much for your attendance and please go in peace.’

Postponement: Left-wing activists had their own seating section – or five. They shouted 'Bernie! Bernie! Bernie!' as a public address announcer declared that 'for the safety of all the tens of thousands of people, tonight's rally will be postponed'

Postponement: Left-wing activists had their own seating section – or five. They shouted ‘Bernie! Bernie! Bernie!’ as a public address announcer declared that ‘for the safety of all the tens of thousands of people, tonight’s rally will be postponed’

Opposing views: Protesters at Donald Trump's first Chicago campaign rally (pictured) were so numerous on Friday that they shut the event down

Opposing views: Protesters at Donald Trump’s first Chicago campaign rally (pictured) were so numerous on Friday that they shut the event down

‘Nobody wants to hurt each other anymore’: Trump on protesters

‘Law enforcement acknowledged that the intensity of the protesters, and their numbers, came as a surprise.

‘It’s like 10 per cent of them are here to shut it down,’ a Chicago police officer told DailyMail.com, requesting anonymity to speak freely.

Asked if it was more than law enforcement had prepared for, he said: ‘Affirmative.’

That 10 per cent figure turned out to be an understatement.

More than an hour before Trump’s appointed 6:00 p.m. starting time, scuffles broke out inside. And a riot-threatening crowd gathered outside, pressing against police lines that separated them from rally-goers who were still trying to get in.

More than an hour before Trump's appointed 6:00 p.m. starting time, scuffles broke out inside the University of Illinois at Chicago Pavilion. Pictured here are protesters standing outside 

More than an hour before Trump’s appointed 6:00 p.m. starting time, scuffles broke out inside the University of Illinois at Chicago Pavilion. Pictured here are protesters standing outside

Verbal exchange: Trump supporter exchanges words with a demonstrator  after Republican U.S. presidential candidate Donald Trump cancelled his rally at the University of Illinois at Chicago 

Verbal exchange: Trump supporter exchanges words with a demonstrator  after Republican U.S. presidential candidate Donald Trump cancelled his rally at the University of Illinois at Chicago

Trump aides and Secret Service agents refused at 5:15 and 5:45 to speculate on whether or not the campaign event would be called off for the candidate’s safety.

A federal agent deflected the question as his eyes followed a young black man wearing a purple backpack.

‘I don’t know,’ he said. ‘I guess if they cleared Secret Service, then it’s okay. I guess.’

One group of black audience members jeered a white man wearing a confederate-flag hat who told them they likely had no stake in the election. They couldn’t vote, he yelled, according to two witnesses, because they were all felons.

Cancellation: An empty podium stands on the stage after protestors forced the cancellation of a Businessman and Republican presidential candidate Donald Trump campaign rally out of concern for public safety

Cancellation: An empty podium stands on the stage after protestors forced the cancellation of a Businessman and Republican presidential candidate Donald Trump campaign rally out of concern for public safety

Inside the pavilion: Hundreds of protesters clashed with the frontrunner's supporters and police struggling to maintain order

Most of the venom, however, came from a section of anti-Trump forces numbering in the hundreds, clustered in the rear of the arena. They provided off-and-on fireworks and attracted police attention minute by minute.

‘F*** the police!’ a black woman screamed to no one in particular, repeatedly.

‘¡Pendejos!’ one Hispanic man yelled over and over again. ‘¡Pendejos!’

The word, a generic but crude insult, is Spanish for ‘public hair.’

Both found hails of wadded-up food wrappers and paper cups thrown in their direction as chants of ‘We Want Trump!’ rang out in response.

The multi-ethnic lake of humanity, surrounded by a larger sea of Trump supporters, included blacks, whites, Latinos, Indians and women wearing headscarves.

They shouted ‘Kick him out! Kick him out! Kick him out!’ at a white man who had held a Trump rally sign over his head in the wrong place at the wrong time.

An African-American protester grabbed it, tore it in two, and held it aloft like a trophy. His friends flipped middle fingers to a scrum of journalists watching from behind barricades on the arena floor.

For a moment there was no screaming. No slogans. Just a moment’s show of dominance before uniformed Chicago police gently led him out.

The man whose sign he took flashed a sheepish grin and retreated to another section of seating, sweat visible on his brow.

Joy for some: Protesters against Republican presidential candidate Donald Trump celebrate after it was announced that a rally for Trump was canceled

The multi-ethnic lake of humanity, surrounded by a larger sea of Trump supporters, included blacks, whites, Latinos, Indians and women wearing headscarves

Some in the protest crowd shouted ‘Undocumented! Unafraid!’ over and over, competing with the Rolling Stones on Trump’s pre-show playlist.

The adventures in protesting had begun when three young men wearing undershirts reading ‘Muslims United Against Trump’ were ushered out of the arena near the stage.

Witnesses said they were turned away at the door, left, and returned wearing hooded sweatshirts over their magic-markered messages.

Protesters are nothing new at Donald Trump rallies. Typically an hour-long speech stops a dozen times – sometimes more – so social justice warriors can vent their spleens.

Trump has turned mocking them into an art form. But Friday night’s display was different.

An anti-Donald Trump protester is removed by security during a Trump rally at the UIC Pavilion in Chicago on Friday. Republican White House hopeful Donald Trump cancelled his appearance at a Chicago rally Friday amid extraordinary scenes of chaos

Tidying up the damage: Members of the cleaning crew sweep the floor at the UIC Pavilion after Republican U.S. presidential candidate Donald Trump cancelled his rally for safety reasons

Tidying up the damage: Members of the cleaning crew sweep the floor at the UIC Pavilion after Republican U.S. presidential candidate Donald Trump cancelled his rally for safety reasons

The atmosphere was supercharged early on by news that a similar rally in St. Louis hours earlier generated 32 arrests including one for 3rd degree assault.

By 5:30, Trump’s staff locked reporters inside the ‘pen,’ a barricaded-in area that journalists are not allowed to leave while The Donald is speaking.

Typically the lockdown happens ten minutes before ‘go time’ and exceptions are made for bathroom breaks. Not on Friday.

‘I don’t care,’ one Trump aide told journalists. ‘Stay in there. You don’t come out.’

As soon as the event was canceled, however, there was no candidate to protect. The floodgates opened and journalists flooded out – some with cameras, others with notepads – to document the continuing melee.

‘This is all your fault!’ one young man boomed at no one in particular. ‘You damned media people. You’ve ruined Donald Trump for all of us!’

BLOODIED PROTESTER IS ESCORTED FROM TRUMP RALLY IN ST.LOUIS

A bloodied protester was filmed being escorted from a Donald Trump rally in St Louis on Friday as demonstrators shut the event down for ten minutes.

The black activist, who gave his name as Anthony Cage, was filmed being escorted into a police van by two St Louis officers with blood across his face and down the front of his sweater.

There had been signs of trouble as early as 8am when people began queuing outside the Peabody Opera House to get tickets, with large groups of pro and anti-Trump fans shouting at one another.

After a large number of demonstrators sneaked into the event and began a coordinated protest inside, Trump told the crowd: ‘Part of the problem and part of the reason it takes so long is nobody wants to hurt each other anymore, right?

‘And they’re being politically correct the way they take them out. So it takes a little bit longer,’ the River Front Times reported.

It is not clear how the activist was injured, but there were multiple scuffles between Trump supporters and demonstrators.

Other reports indicated that the man was not arrested, but instead had his wounds treated and was allowed to walk free.

The fresh scenes of violence come after Trump supporter John McGraw, 78, was caught on camera hitting Rakeem Jones, 26, at another event in Fayetteville, North Carolina, on Wednesday.

Quizzed by Inside Edition on why he hit the black demonstrator, McGraw responded ‘we don’t know if he’s ISIS’, before adding: ‘Next time we see him, we might have to kill him.’

http://www.dailymail.co.uk/news/article-3488651/Trump-rally-called-Chicago-credible-threat-protesters-planned-storm-stage-Trump-s-speech-black-protester-bloodied-St-Louis.html#ixzz42inhuJgI

BREAKING: TERRORIST BILL AYERS PROTESTS DONALD TRUMP IN CHICAGO

Obama buddy and domestic terrorist Bill Ayers was seen protesting Donald Trump in Chicago today.

Thousands of leftwing protesters were expected today to protest Donald Trump at the University of Chicago Illinois campus.
5,000-7,000 people were already inside the pavilion at 5 PM Central. Thousands more were still in a line that stretched several blocks.
trump lines chicago
Trump supporters lined up early to see the GOP frontrunner in Chicago. (Progressives Today)

Guess who was outside protesting Donald Trump?
…Domestic terrorist Bill Ayers.
bill ayers trump
(Progressives Today)

PHOTOS VIA REBEL PUNDIT

Bill Ayers, a former leader of the Weather Underground, participated in bombings of the New York City police headquarters in 1970.

Barack Obama started his political career in Bill Ayers’ living room.

Actual terrorist Bill Ayers protests against Trump in Chicago.

http://www.thegatewaypundit.com/2016/03/bill-ayers-protests-trump-in-chicago/

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Microeconomics — Elasticity of Demand and Elasticity of Demand Coefficients — Income Elasticity – Supply Elasticity — Videos

Posted on February 28, 2016. Filed under: Blogroll, Economics, liberty, Links, media, Microeconomics, Programming, Rants, Raves, Wealth, Welfare, Wisdom | Tags: , , , , , , , , , , |

normal good and inferior gooddeterminants of elasticitycalculating the elasticity of demanddemand elasticityelasticity of demandSlide11P&B 4.3 Inelastic & Elastic Demand10-2-price-elasticity-of-demand4-1_Own_Price_Elas_08 demand-is-price-elastic-small Elasticity of demand elasticity Price_Elasticity_of_DemandSlide03elasticity

 

Elasticity of Demand

Calculating the Elasticity of Demand

Applications Using Elasticity

Elasticity of Supply

Elasticity and the Total Revenue Test- Micro 2.9

Elasticity of Demand Coefficients- Micro 2.10 (Cross-Price and Income Elasticity)- AP Microeconomics

AS-Level Economics – Video 9: Price Elasticity of Demand (PED)

AS-Level Economics Video 10 – Income Elasticity of Demand [YED]

AS-Level Economics Video 11 Cross Elasticity of Demand [XED]

AS-Level Economics Video 12 – Price Elasticity of Supply (PES)

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John Mauldin & Jonathan Tepper — Code Red: How to Protect Your Savings from the Coming Crisis — Videos

Posted on February 21, 2016. Filed under: Banking, Blogroll, Books, Business, Communications, Constitution, Corruption, Crime, Crisis, Economics, Employment, Federal Government Budget, Fiscal Policy, History of Economic Thought, Investments, Law, liberty, Macroeconomics, Microeconomics, Monetary Policy, Money, Non-Fiction, People, Philosophy, Photos, Radio, Rants, Raves, Regulations, Tax Policy, Taxation, Taxes, Video, War, Wealth, Welfare, Wisdom, Work, Writing | Tags: , , , , , , , , , , , |

 

code red book coverJohn_Mauldin

John Mauldin: If I Were Janet Yellen

Code Red – Exclusive interview with John Mauldin & Jonathan Tepper

“The Bernanke” explains Financial Repression

Financial Repression — wealth transfer from savers to debtors

Lecture 08 Unconventional Monetary Policy: The Fallacies underlying Quantitative Easing

Overdose: The Next Financial Crisis

Federal Reserve and the IRS American Dream (Animation)

Few Good Man ‘ You Can’t Handle the Truth ‘ Courtroom Scene

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Trump Wins, Kasich Second, Cruz Third — Five Person Race Until March 2, 2016 –Videos

Posted on February 20, 2016. Filed under: American History, Banking, Blogroll, Books, College, Economics, Education, Elections, Employment, Faith, Family, Federal Government, Federal Government Budget, Fiscal Policy, Freedom, Friends, history, Illegal, Immigration, Law, Legal, liberty, Life, Links, Macroeconomics, media, Microeconomics, Monetary Policy, Money, Newspapers, People, Philosophy, Photos, Presidential Candidates, Press, Radio, Rants, Raves, Security, Taxation, Taxes, Television, Video, War, Wealth, Welfare, Wisdom, Work, Writing | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

Project_1

The Pronk Pops Show Podcasts

Pronk Pops Show 621: February 10, 2016

Pronk Pops Show 620: February 9, 2016

Pronk Pops Show 619: February 8, 2016

Pronk Pops Show 618: February 5, 2016

Pronk Pops Show 617: February 4, 2016

Pronk Pops Show 616: February 3, 2016

Pronk Pops Show 615: February 1, 2016

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Pronk Pops Show 603: January 13, 2016

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Pronk Pops Show 600: January 8, 2016

Pronk Pops Show 599: January 6, 2016

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Pronk Pops Show 591: December 11, 2015 

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Pronk Pops Show 585: December 2, 2015 

Pronk Pops Show 584: December 1, 2015 

Pronk Pops Show 583: November 30, 2015 

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Pronk Pops Show 581: November 24, 2015 

Pronk Pops Show 580: November 23, 2015  

Pronk Pops Show 579: November 20, 2015 

Pronk Pops Show 578: November 19, 2015 

Pronk Pops Show 577: November 18, 2015 

Pronk Pops Show 576: November 17, 2015

Pronk Pops Show 575: November 16, 2015  (more…)

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Global Economy Goes Into Recession — Today’s 62.7% U.S. Labor Participation Rate Same As February 1978 — 158,000 Jobs Created in January 2016 — Unemployment Rates U-3: 4.9% and U-6: 9.9% — Videos

Posted on February 20, 2016. Filed under: American History, Banking, Blogroll, Business, College, Crisis, Demographics, Economics, Education, Elections, Employment, Entertainment, Family, Federal Government, Federal Government Budget, Fiscal Policy, history, Inflation, Investments, Law, liberty, Life, Macroeconomics, media, Microeconomics, Monetary Policy, Money, People, Philosophy, Politics, Press, Radio, Radio, Rants, Raves, Regulations, Talk Radio, Tax Policy, Taxation, Taxes, Television, Television, Unemployment, Video, Wealth, Welfare, Wisdom, Work, Writing | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

Project_1

The Pronk Pops Show Podcasts

Pronk Pops Show 618: February 5, 2016

Pronk Pops Show 617: February 4, 2016

Pronk Pops Show 616: February 3, 2016

Pronk Pops Show 615: February 1, 2016

Pronk Pops Show 614: January 29, 2016

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Pronk Pops Show 611: January 26, 2016

Pronk Pops Show 610: January 25, 2016

Pronk Pops Show 609: January 22, 2016

Pronk Pops Show 608: January 21, 2016

Pronk Pops Show 607: January 20, 2016

Pronk Pops Show 606: January 19, 2016

Pronk Pops Show 605: January 15, 2015

Pronk Pops Show 604: January 14, 2016

Pronk Pops Show 603: January 13, 2016

Pronk Pops Show 602: January 12, 2016

Pronk Pops Show 601: January 11, 2015

Pronk Pops Show 600: January 8, 2016

Pronk Pops Show 599: January 6, 2016

Pronk Pops Show 598: January 5, 2016

Pronk Pops Show 597: December 21, 2015

Pronk Pops Show 596: December 18, 2015

Pronk Pops Show 595: December 17, 2015

Pronk Pops Show 594: December 16, 2015

Pronk Pops Show 593: December 15, 2015

Pronk Pops Show 592: December 14, 2015 

Pronk Pops Show 591: December 11, 2015 

Pronk Pops Show 590: December 10, 2015 

Pronk Pops Show 589: December 9, 2015 

Pronk Pops Show 588: December 7, 2015 

Pronk Pops Show 587: December 4, 2015 

Pronk Pops Show 586: December 3, 2015 

Pronk Pops Show 585: December 2, 2015 

Pronk Pops Show 584: December 1, 2015 

Pronk Pops Show 583: November 30, 2015 

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Pronk Pops Show 581: November 24, 2015 

Pronk Pops Show 580: November 23, 2015  

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Pronk Pops Show 578: November 19, 2015 

Pronk Pops Show 577: November 18, 2015 

Pronk Pops Show 576: November 17, 2015

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Capitalism vs. Socialism — Videos

Posted on January 9, 2016. Filed under: Agriculture, American History, Articles, Babies, Blogroll, Business, College, Communications, Congress, Constitution, Crime, Crisis, Culture, Documentary, Economics, Education, Employment, Entertainment, Faith, Family, Federal Government, Fraud, government spending, Heroes, history, History of Economic Thought, Homicide, Illegal, Immigration, Inflation, Law, Legal, liberty, Life, Links, Literacy, Macroeconomics, media, Microeconomics, Money, Movies, Non-Fiction, People, Philosophy, Photos, Political Correctness, Politics, Radio, Rants, Raves, Security, Strategy, Talk Radio, Taxation, Taxes, Technology, Television, Terrorism, Transportation, Video, War, Wealth, Welfare, Wisdom, Work, Writing | Tags: , , , , , , , , , , |

mith marxsocialism capitalism 2capitalism_socialism_communismcapitalism-vs-socialism-vs-communismcommunism-vs-capitalism capitalism-socialism-and-communism-spelled-out-in-their-pros-political-poster   nolan-chart-basicphilosophies
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Capitalism vs Socialism

Cartoon – Ronald Reagan on Big Government Programs

Reagan and Obama Face-off in the Ring – I Want Your Money Movie Clip

Adam Smith, Ludwig von Mises, Friedrich Hayek, Ayn Rand, Milton Friedman & Capitalism?

Ayn Rand on Socialism and Dictatorship

Ayn Rand Schools Socialist Phil Donahue

Ayn Rand on Donahue 1979

Atlas Shrugged – ‘The Money Speech’ Mike Maloney

Ayn Rand ‘Man’s Rights’ From ‘Capitalism: The Unknown Ideal’

Milton Friedman – Socialism vs. Capitalism

Milton Friedman – Socialism is Force

Odc.3 – Milton Friedman – Free to Choose (1990) – The Failure of Socialism Napisy PL

Thomas Sowell and a Conflict of Visions

Thomas Sowell (former Marxist) Dismantles Leftist Ideology

Thomas Sowell on Capitalism Part 1/2

Thomas Sowell on Capitalism Part 2/2

Uncommon Knowledge: Thomas Sowell on the Vulgar Pride of Intellectuals

Friedrich Hayek: Why Intellectuals Drift Towards Socialism

Friedrich Hayek on Socialism

Friedrich Hayek: Free Market vs Socialism

Friedrich von Hayek: His Life and Thought

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Prager University — Videos

Posted on January 7, 2016. Filed under: American History, Articles, Babies, Blogroll, Books, Catholic Church, College, Communications, Congress, Constitution, Corruption, Crime, Crisis, Culture, Documentary, Economics, Education, Elections, Employment, Energy, Faith, Family, Federal Government, Federal Government Budget, Fiscal Policy, Foreign Policy, Fraud, Freedom, Friends, government, government spending, history, History of Economic Thought, Homicide, Illegal, Immigration, Investments, Law, Legal, liberty, Life, Links, Macroeconomics, media, Microeconomics, Monetary Policy, Money, Non-Fiction, People, Philosophy, Radio, Rants, Raves, Regulations, Religion, Religious, Religious, Resources, Reviews, Speech, Strategy, Talk Radio, Tax Policy, Taxation, Video, War, Wealth, Welfare, Wisdom, Work, Writing | Tags: , , , , , , , , , , , , , , , |

Prager University

Is Evil Rational?

The Most Important Question About Abortion

Don’t Judge Blacks Differently

Who Are the Racists: Conservatives or Liberals?

How Do We Make Society Better? Left vs. Right #5

What is Social Justice?

The War on Work

What Matters Most in Life?

What Did Your Parents Most Want You to Be?

How the Liberal University Hurts the Liberal Student

The Speech Every 2015 College Grad Needs to Hear

What Every Graduate Should Know

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Kevin Phillips – Bad Money: Reckless Finance, Failed Politics, and The Global Crisis of American Capitalism — Videos

Posted on December 26, 2015. Filed under: American History, Banking, Blogroll, British History, Congress, Constitution, Economics, European History, Faith, Family, Fiscal Policy, government spending, Investments, Language, Law, liberty, Life, Links, Literacy, Macroeconomics, media, Microeconomics, Middle East, Monetary Policy, Money, People, Philosophy, Photos, Politics, Presidential Candidates, Radio, Talk Radio, Tax Policy, Taxation, Taxes, Television, Video, Wealth, Welfare, Wisdom, Work, Writing | Tags: , , , , , , , , , , , , |

Kevin Phillips – Bad Money: the Global Crisis of American Capitalism

Bad Money: Crisis of American Capitalism

Kevin Phillips – Bad Money: the Global Crisis of American Capitalism

Which Currency Will Replace the Dollar? Finance and the Crisis of Capitalism (2008)

Former GOP Strategist Kevin Phillips on Roots of American Revolution, Future of US Politics

Kevin Phillips Discusses the Role Played by Money, Debt, & Trade in the American Revolution

WALL STREET MELTDOWN Bill Moyers !!!! FULL 1 of 3

WALL STREET MELTDOWN Bill Moyers !!!! FULL 2 of 3

WALL STREET MELTDOWN Bill Moyers !!!! FULL 3 of 3

Kevin Phillips on Bad Money (US money system)-1/2

Kevin Phillips on Bad Money (US money system)-2/2

Book TV: Kevin Phillips on his Writing Habits

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Black Bearded Paul Ryan (Open Borders Advocate) Plays Santa Claus Socialism — Stealing From Taxpayers Their Hard Earned Money — No Hope — No Change — The Political Elitist Establishment Disregarding The American People — Enforce Immigration Law — Illegal Aliens Go Home or Face Deportation — Rubio Voted For Amnesty and Cruz Voted Against Amnesty (Gang of 8 Bill Was Defeated in The House — American People Oppose Citizenship, Amnesty, A Pathway To Citizenship and Legalization For All 30-50 Million Illegal Aliens in United States — Neither Marco Rubio Nor Hillary Clinton Can Be Trusted! — Videos

Posted on December 23, 2015. Filed under: Articles, Banking, Blogroll, Business, Communications, Congress, Constitution, Corruption, Economics, Employment, Family, Federal Government Budget, Fiscal Policy, Fraud, government, government spending, Macroeconomics, media, Microeconomics, Monetary Policy, Money, Political Correctness, Politics, Presidential Candidates, Radio, Wealth, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

Project_1

The Pronk Pops Show Podcasts

Pronk Pops Show 595: December 17, 2015

Pronk Pops Show 594: December 16, 2015

Pronk Pops Show 593: December 15, 2015

Pronk Pops Show 592: December 14, 2015 

Pronk Pops Show 591: December 11, 2015 

Pronk Pops Show 590: December 10, 2015 

Pronk Pops Show 589: December 9, 2015 

Pronk Pops Show 588: December 7, 2015 

Pronk Pops Show 587: December 4, 2015 

Pronk Pops Show 586: December 3, 2015 

Pronk Pops Show 585: December 2, 2015 

Pronk Pops Show 584: December 1, 2015 

Pronk Pops Show 583: November 30, 2015 

Pronk Pops Show 582: November 25, 2015 

Pronk Pops Show 581: November 24, 2015 

Pronk Pops Show 580: November 23, 2015  

Pronk Pops Show 579: November 20, 2015 

Pronk Pops Show 578: November 19, 2015 

Pronk Pops Show 577: November 18, 2015 

Pronk Pops Show 576: November 17, 2015

Pronk Pops Show 575: November 16, 2015  (more…)

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