Economics


Fixing Market Madness

“The focus by elites on making money out of money rather than making real goods and services has led to wealth for the few, and overall national economic decline. In a financialized economy, the financial tail is wagging the economic dog.” Steve Denning, (Forbes magazine, May 31, 2015)America used to make things, but now we make financial deals. Leveraged buy-outs, mergers, hostile takeovers, and similar stock manipulation games don't actually grow the real economy. None of this increases sales or production. None of it improves the financial security of the majority ...

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THE UNIVERSAL ECONOMY UNIT XIX: MONEY IS A CONCEPT – NOT A THING

Money is a concept – not a thing. We have the physical resources – the matter, the energy, the man power, the machine power, the knowledge – to rebuild our infrastructure, to repair our crumbling roads. We have the physical resources – the matter, the energy, the man power, the machine power, the knowledge – to provide healthcare for all. We have the physical resources, the knowledge, to put an end to the use of global warming fossil fuels and switch to safe alternative energies. We have the physical resources, the knowledge, to provide food for everyone on the ...

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Questions on the “Markets”

The stock market had a crazy year in 2018. Several times there were huge swings in the market indexes. Any good investment adviser will tell you to ignore the daily ups and downs of the markets. But people are worried. Somehow Wall Street speculation has the power to crash the real economy. When the bubble bursts, like in 2008, severe problems result. Main street businesses go under, people are laid off, and retirement “nest eggs” disappear overnight. The economy can take years to recover.Why does this happen? How can speculation crash the whole economy? Why do we ...

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HAVE THE TAX CUTS TRICKLED DOWN TO YOU?

HAVE THE TAX CUTS TRICKLED DOWN TO YOU?By Jeanne LarsonIn December 2017, the Republican majority rushed tax-cut legislation through Congress before the Congressional Budget Office (CBO) analysis of the 505-page bill could be properly scrutinized.On April 9, 2018, reuters.com reported that the CBO estimates the immense tax cuts signed into law -- which Republicans said would pay for themselves -- will balloon the deficit for years to come. In just one year, 2017 to 2018, the deficit expands from $665 billion to $804 billion.On September 28, ...

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THE UNIVERSAL ECONOMY UNIT XVIII: LESSONS FROM MONOPOLY

Most of us (especially elders like myself) have played the board game “Monopoly.” Interestingly, in spite of huge growth in electronic gaming, sales of “Monopoly” continue to do well. The face to face social interaction in board games is regaining its appeal. But the game of “Monopoly” also provides many lessons in understanding the current state of economic affairs. It is a microcosm of a macrocosm – specifically, macroeconomics.A quick review. . .The “Monopoly” board has various properties, utilities, railroads and other locations where players land ...

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RETIREMENT FOR ALL

For years polls have shown the general public to be more supportive of specific policy issues than the close partisan elections would indicate. People from across the political spectrum want action on affordable health care, adequate public school funding, and rebuilding our crumbling public infrastructure. This is a golden opportunity for Democrats to LEAD even if they control only one of the branches of government. A bold agenda that addresses people's real needs and concerns could turn the “blue wave” of 2018 into a tsunami in 2020. As this week's special legisl...

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Don’t Celebrate – Organize

“If there is no struggle, there is no progress.” Frederick Douglass“Don't mourn – organize.” Joe Hill, labor activistWe, thankfully, don't have to mourn the last election. But the job is not done. Now is not the time to kick back and wait for the next election. This would be tempting and we all need a rest from politics. But, progressives must continue to oppose the destructive policies of Republicans and to push Democrats to do what is needed for people. Don't celebrate – organize.Democrats made some gains in the last election. Wisconsin elected a ...

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SODDY, FULLER AND MODERN MONETARY THEORY

Portions of this article have been previously published in Middle Wisconsin but the concepts are hopefully useful in understanding current economic issues confronting America and the world.Born in the late 1800’s, Frederick Soddy and R. Buckminster Fuller led extraordinary lives. Soddy won the Nobel Prize in chemistry in 1921 and Fuller became known for his work in architecture, the geodesic dome and visionary thinking. Soddy was a British citizen, Fuller an American. Both were deeply rooted in science and the laws of physics, and both spent the latter half of their ...

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WISCONSIN AND NICARAGUA ARE PARTNERS

Wisconsin and Nicaragua are partners. For fifty years, programs have provided assistance to people in Nicaragua of all ages. Programs help with natural resources and cultural diversity, with health and education.For fifty years, the Wisconsin/ Nicaragua partnership has shown that working together brings good results.Wisconsin and Nicaragua have commonalities:++Each approximately 57,000 square miles++Extensive stretches of coastline++Large inland lake++Valuable forest areas++Agricultural productionThe headquarters are in Nelson Hall of UWSP campus, Stevens ...

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THE UNIVERSAL ECONOMY UNIT XVI: THE MISLEADING USE OF TRADITIONAL ACCOUNTING/ECONOMIC TERMINOLOGY

The U.S. Government never – ever – borrows money. The U.S. Government is never – ever – in debt.Ah, the heresy! How can one make such a ridiculous statement! Look at the National Debt Clock! It’s the end of the world! We’re mortgaging our great, great, great, great grandchildren into infinity! China will own us! It’s the end of the world!!!! Be afraid! Be very afraid! And on and on the insanity goes.But let us ask ourselves - - - since the U.S. Government is the Constitutionally authorized creator of the nation’s money, why on Earth would it ever ...

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