Friday, October 24, 2008

Doubled Down

Well, that didn't take long.

Comes an e-mail from David Plouffe,

The Republican National Committee is distributing a mail piece that says "Terrorists" on the front and opens to a big picture of Barack saying "Not Who You Think He Is."

So I just sent Obama $60.

Your move, McCain.

Wednesday, October 22, 2008

Doubling Down On Obama

The McCain campaign, having determined that negative campaigning isn't working very well, has decided to double the intensity. Robocalls are assaulting the electorate with lies and innuendos. McCain and Palin accuse their opponent of terrorism. Surrogates call him a socialist, a communist.

Meanwhile, the e-mails from the Obama campaign invite the reader to contribute toward ending the slew of slime. They don't attack McCain's person, his associates, or his personal history. When his supporters boo McCain's name, Obama tells them to forget booing - get out there and vote.

So I contributed.

Five dollars at first. Then fifteen, because it was the end of the month and it was matched by some other donor's giving.

When the slime worsened into bullying, I contributed thirty. This voter remembers a painful childhood.

Keep it up, McCain. I'll send them sixty.

Tuesday, October 14, 2008

Could Estate Taxes Support Social Security?

Estate taxes, which George Bush gratuitously eliminated, once brought in to the government tens of billions of dollars a year.

If this cash flow is restarted, and it probably will be, what would happen to America if it were redirected into the Social Security trust fund?

Social Security paid out 584.9 billion dollars to Social Security and Disability recipients in 2007.

In 2001, the estate tax brought in 23 billion dollars. Who knows what it would bring in today? Even if it were the same and had not grown, 23 billion is 4 percent of 585 billion. Today's revenue from the tax would be much larger.

Added to the fund and invested wisely, it could ensure that Social Security lives forever, and with it, the American dream.

Friday, October 10, 2008

Parasailing With Sarah Palin

Maybe you're pulled by a distant boat. Maybe you jump from a cliff. But suddenly you're airborne, and your game is to see how long you can stay up there.

Gravity attracts. So you want to find updrafts. You look for hot air rising.

Your baggage pulls you down. You told them when they picked you that you had baggage. "Just scream louder", they said. As the baggage gets heavier and heavier, you fall. The bright bird flittering about becomes a squawky scolder on a limb.

And now you have fallen off the limb.

The nice man who invited you to fly back in August has scolded your followers for believing what you said. Your home government has scolded you for using your heroic gubernatorial powers to smite your ex-brother-in-law.

Mitt Romney stands in the wings. Wearing his wings.

Suspend Short Selling

If leaders were to suspend short selling around the world, then the markets can recover, can return to a cash-up-front economy, and credit - which is an extension of cash - will recover.

Thursday, October 09, 2008

Own Your Own Economy

"Own Your Own Government" has always seemed an idea worth fighting for.

I never thought that the economy would come with it. But the new President who takes office in a couple of months will be running a government that is officially responsible for managing the economy and which in fact owns some bits and pieces of it. A few banks, a piece of an insurance company. "Buy me, too!" a thousand companies will say as they fall into the dust.

Will the government manage its new acquisitions competitively?

Wednesday, October 08, 2008

Workers And Investors Revolt

Senator and Obama just now spoke of the workers and investors revolting against Wall Street.

Forty years ago, it was the workers revolting against the investors and Wall Street. The investors were on the side of Wall Street, back then.

Wall Street's end may be near, if both the workers and investors think so little of it. Is it really necessary?

Wednesday, October 01, 2008

Is There A Shortage Of Good Borrowers?

Although the supply of credit seems to be faltering, the price of credit stays low. Usually when a supply falters, demand drives the price upwards. What is happening here?

Could there be a lack of credit-worthy borrowers?

Has seven years of no increase to real income depleted the supply of credit-worthy borrowers?

In bad times, many people who once were credit-worthy lose that status.

Perhaps if they had better jobs, they would be more credit-worthy and that would drive the price of credit up. That would make the banks happy.

Banks need good borrowers.

When The Working People Bail Out Wall Street

When the working people bail out Wall Street, you have to wonder where value comes from.