Economics has failed us: but where are the fresh voices?

"And it will be the rest of us who pay the price"

WAVING HANDS FRANTICLY & SCREAMING!!!!

What do you mean "It WILL be" I have been paying the price for 3.5yrs now & I hate to break it to you folks, it' NOT getitng better.

4 more yrs of "Hope & Change" will kill me.

I hate to talk polotics- - it is sooo easy to blame who ever sits in the oval office...well, except for a few actual blunders like Iraq's weapons of mass, well they said destruction, but in fact it was disruption...without the wars, there actually may have been financial stabilization,let alone feet with shoes at airports...but the big elephant in the room is the fact that with almost seven billion pairs of hands outstretched for a coin, everything will cost more,so that as the profit/cost gets spread around, one of each of those pairs of hands gets some form of mammon....there is that great phrase about how riches get shared by few, and misery gets shared by many..(I basterdised a great Churchill..)...and then there are our mercenary (private for pay)soldiers..OH, did I say WE pay them, too? via taxes? hmmm?well, any ways, don't blame the guy with the white house key, they just give that to the current scape goat, no matter who.....lets just blame everybody but us,cause we here in the village would love currency with Floyd's picture, and it would/could be worth more than a Washinton about now......(the coin op mirror makes change for 1&5 Floids)

"When in trouble, when in doubt, flap your arms and run about!"  Motto of the Royal Navy's Midshipmen.

The "Fresh Voices" are not equipped with the knowledge of History that enables them to understand the Problem(s) nor to be qualified to comment on them ...
 
The Voices of The Old Guard, the Veterans, the Learned/Experienced ... have been selectively ignored, in the name of Liberalism and Political Correctitude, and other Socialist ideas ... Therefore, some of us have reached the, "Why Bother" stage, with learned conviction that a lot of people, just don't want to hear the Truth ... because it will cause them to impeach their own judgement, which we are all loathe to do ... and quite possibly(God Forbid) have to admit that we were wrong ... (I can feel a universal attack of the vapors and the attending Nose Bleed coming on now ... )
 
But I Promise, on my Honor ... from the Bottom of my Heart ... perhaps even with some difficulty ... NOT,   to say, I Told You So !!!  I am a lot of rotten things, but chickenshit is not one of them ... even tho' one might deserve it .......
 
A comfort that can be counted upon from the Old and Not So Fresh Voices ... is that  We Never Quit !!!  Count Upon Those Who Work For a Living, Not those who Vote for a living ...

I have nothing on global fiscal matters. Maybe the 'new voice' of RY printing Floydollars would be as good as anything else. Of course, we Villagers would be advantaged, as we invented Floyd.

The Prophets of Doom are on my sidebar. End of the world as we know it this year.

The inherent vice of capitalism is the unequal sharing of blessings; the inherent vice of socialism is the equal sharing of miseries. - Winston Churchill

Rings - I'm with you on this one.......we simply can't afford more.

I believe in destiny for after embracing the Von Mises and the Austrian School of Economics, I met a refugee of the Holocaust who fled Vienna with $10 after losing everything. We have had many discussions on freedom, our most valued commodity. In The Circle Bastiat a recent article states in "Classical Liberalism and the Austrian School, Ralph Raico recently stressed that there never has been any such thing as "classical" liberalism. There was and is only liberalism, an intellectual movement centred around the notion that society is working by itself and does not need to be supported, or reigned in, by coercive government. True, the word liberalism has also been adopted by various enemies of liberty and turned into the opposite of its traditional meaning. But this perversion of language is by and large limited to the Anglo-Saxon world. On the old Continent, despite recent efforts by social democrats and other statists to appropriate the labels of liberty and liberalism, the latter is still being used in its original meaning. And the liberal movement is thriving even in those countries where coercive government is omnipresent." The freshest of all voices takes the Truth and applies it, sticks with it, sometimes suffers (I lost a company once in bankruptcy like Mr. P & that can shake your underpinnings) and still understands that globally begins locally and locally begins individually. And that behind every voice must be a hand willing to do something Adam Smithesque...anything for action has and always will speak louder than words. Instead of can't I wish the new mantra was why the hell not? We used to love a good fight.

kudos to all of you.

I'm surprised no one commented yet on the photo at the top of the article, I LUFFED the Young Ones!  "Neil, you're bedroom's on fire!".  Econ and polisci are too taxing for me before 8am on a Monday morning.  Time to walk the dog and get ready for work.

RY, I hear you and cannot find a way to lay blame in one place in the political whirl of things either.  I can lay blame on greed, but whose is certainly spread about.
 
Tommy, you have confused me a bit, and I do want to know what you consider an "Anglo-Saxon World."  Just looking at the British Isles let alone the USA your term really threw me.  Not picking on you, just trying to get your reference. 

Rusty ~ Certainly it's greed and it just keeps getting worse.  It's always been the case, though that doesn't excuse it.  Those in private industry would be in jail for doing what our politicians do.  Getting rid of lobbyists would be a good place to start.  Having those in power really listen to those who have elected them.  Really listen, I mean to listen after election.  Simplistic?  Perhaps, but I do think that it's outrageous that there are not more simplistic approaches to handling things.  A way for all of us to understand what is going on and what the laws being passed even say........the tax code, for instance.  All of us could go on and on, there's so much anger and not enough pride.  A lot of blowing smoke (secret service agents and prostitutes so we won't notice bills being passed, laws put into effect....) and not enough plain talk.

Rusty- No problem. To clarify, that is Mr. Raico's terminology not mine as my use of it has for the most part in my life been in reference to days of yore in England although WASP from the 60's has a somewhat negative connotation. I tried to make sure the part that was not mine in the post was in quotes. I took it to mean that the term "liberal" has taken on a different meaning than its original intent based on my experience with American politics. The term "Anglo-Saxon" can be used in a variety of contexts but again I took it in this case to identify the English-speaking world's distinctive language, culture, technology, wealth, markets, economy, and legal systems and I suspect that he meant that other cultures perhaps have not made a political football out of a word that at its core means liberty and equality for all. These topics often take so long to discuss and be precise without running the risk of being misunderstood that I often stick to wine and food and travel rather than long explanations. Sorry to be a bore. My philosophy in the simplest of terms is love all love hate all hate and I have written enough words for the entire day, maybe week so I will leave it to the experts. I prefer working together rather than name calling and pigeon holing people with labels that are at best imprecise. Rusty, you didn't pick on me. You simply reminded me of what my wife says all the time. Just shut up Tommy Boy.

MISS HAZEL:  Your Poet Laureate, DANNIE ABSE, has received some BIG Recognition in the last two days ... Not bad for an Eighty-Eight year old Yid who isn't wearing sandals and carrying Tablets .......

I hate politics. Anything, from sports to government, when you pit evil versus evil or not-so-evils verses evil, you lose me.

"Economics has failed us".................and words fail me.

Is it really economics that has failed us or did we create problems as a society by turning a blind eye to sound financial principles, hard work, and generosity?  What happened to neighbor helping neighbor?  What happened to saving for a rainy day/retirement/everything?  What happened to getting a second or third job? 
 
I'm tired of people I know who are capable of getting extra work but feel like they deserve to only work one job and that it "isn't fair" and just want to complain instead of getting their hands dirty at an extra job and forgoing some luxuries for the sake of keeping things going.  If I have one more person who rode the economic boom to privilege now complain that they HAD to sell their boat and they can't afford a 2 week vacation rental in Cabo any more and their kids HAVE to go to public school...I swear I will scream.

Thanks, Tommy.  Now I get it.  You see I love those Anglo-Saxons even though my heritage is Welsh, Scottish and Norman which only says there's some Viking in there somewhere.
 
Andy, I do have to agee that the public gets poor information about what is really happening in the House and Senate.  I'm not to sure, though, who is putting up the smoke screen.  I ask myself often why the media hangs onto the scandles like they were gold and really important news such as you mentioned slides by withouot a notation on page 20.  Maybe some of us have to learn to believe that what we get is what the majority want to get.  Scaary, isn't it?

The economics of lotlot in 25 words or less:

I earn what I can.

I pay my bills.

I save/invest/enjoy the rest.

I do not spend more than I earn.

I would argue that greed is not the problem, but I would
argue it another day.  I believe that
greed is innate and like a gun is, in itself, neutral to be used for either
good or evil.  Can you be generous
without first being greedy enough to accumulate more than you need?

I would argue that weapons of mass destruction were found,
but I would argue it another day.  If a
tree falls in the forest and CNN doesn’t report it, does that mean the tree did
not fall?

I’m just not in a mood to toss those petards today.  Instead I would like to introduce a concept
for y’all to mull over.  That would be
the concept of Capitalism.  For some
reason, our (what Aditya called) taxpayer funded intellectuals insist
that there are economic systems other that Capitalism.  If you look very closely at wealth and the
accumulation of wealth you will find that there is no other economic
system.  The first law of capitalism is this:  You are the Capital.  Whether you are your own Capital or someone
else’s capital, YOU are the capital. In this respect a farmer, a prostitute, a monk,
a banker or a slave are all the same. 
The minute you take a job, you are a capitalist.  A socialist or a communist system cannot
PRODUCE anything.  These systems can only
distribute what the capital has produced. 
Not that distribution is bad, it’s when there is no exchange or an
unfair exchange, that distribution turns into flat out theft. This is really a
simple concept.  It doesn’t take a book
to explain or a PhD to understand it.  In
fact some of the lowest of the low understand it well…pimps and slavers, to
name several tens-of-thousands if not more.

Nothing fresh here.

so here's a plot twist; the secret service guys were 'outed', and found to have attention defecit, they are supposed to be watching the President's back...they share a problem with Lincoln's,Kennedy's, both Kennedys actually, as these Presidents seemed to not reflect the likes of those self same guys that sign the back of the US debt interest cheques...so this president (or someone close to him) blew the cover, and will now hire a more varied (Blacks and Latinos and Women)Secret Service, thereby covering the backside that has a literal target on it prior to this election.         I'm only proposing this as a good story outline...if it sells, I'd like to be paid in crisp Floyds....

That song from the 20's "Ain't We Got Fun" is called to mind, especially the lyrics "There's nothing surer: The rich get rich and the poor get babies".

From the beginning of the Secret Service "scandal" I have been thinking of the movie "Wag the Dog." I cannot help but think it is a giant diversionary tactic to take our attention from other things, and now that we can walk around and get our "news" from our phones or google anything we want on the internet, it behooves us to be more careful than ever before not to be manipulated by the media or government. We must either exercise due diligence in finding out what is really going on or be quiet. No single source for news can be relied on. Everyone has an agenda.

PAOLOS, I agree with you completely about capitalism. LOTLOT great 25 words but unfortunately not always possible. Good goal.

Sooo many shades of gray

Paolos~ If you come up with "something fresh", could you give us a little advance notice so we can have ourintellectual loins girded up as it were.

"?)

Unless I missed it or this subject is just too depressing, aren't we usually on food by now?

Goodness sakes, will somebody start cooking? I made a cheap and cheerful shepherds pie today, with yet more of that curly kale for a veg. I'm watching a travel programme and they are eating bat curry in West Africa. Yum yum.

haze, shepherds pie.

Ummmm!

Sounds perfect.

Do you deliver?

....stroganoff and Yukon Golds mashed.....salad with only a superb Picholine Extra Virgin Olive Oil drizzled over it--purchase just this a.m. from our new Olive Oil/Balsamic Vinegar store.  It's so fun!! They have all the oils and vinegars in stainless steel "barrels"with spigots.  There are small cups available (condiment cups, like for catsup, etc.) for tasting and wonderful descriptions of the product.  They also provide serving suggestions--which I didn't follow tonight,.....What a fun experience!  What wonderfully tasty products!!!  

OOps!!!! also came home with two different balsamic vinegars.....one (a Serrano) recommended for strawberrries----and I could really taste how that would be great......the other a dark cherry recommended pairing with bleu or feta cheeses.....I'll bring the vinegars and cheeses and fruits to the club car tonight and we can all be the judge!

...in the interest of the topic I didn't use sirloin....I used round steak cut into strips.....Still very yummy!

O thanks, I feel better now. Duvet time in Wales, so Nos Da dear people. x

Thanks Paolos, and thanks also to Guest. And IVAN.  Intelligent voices - much better than a Fresh voice...we don't need Fresh.  Let Fresh spend some time in the fridge and see how it ages, 

Economists: different to but not better than the guys who…
A) Thought it might be a nice idea to offer mortgages to unexamined applicants many of whom had almost no chance of repaying.
B)Sold those mortgages
C) Bundled them and offered them as a product to investors.
D) And, at the same time, hedged their bets by betting against the success of that product.

Were I God, none of them would be offered a seat at the table… or a toilet come to that.

Ivan ~
You were the soul of self-restraint. I hope nothing blew.

The premise of the article, that mainstream economic models failed us is a load of hooey.  It is not that economics failed us, it's that we have failed economics.  There is one question I have...does money have any spiritual value?  Other than indulgences, that were bundled and offered as a product to sinners.  Probably the same group, different incarnation.

MISS P4, STONEY:  Bless You both, and Thanks !!!
 
The deflation of exasperation makes it less likely that anything will blow anymore, but Thank Y'all for the Notice .......

We failed economists in the same sense that meteorologists feel letdown by the towns built in the paths of tornadoes.

I didn't say we failed economists, I said we failed economics...the course 101, 201 &c...put your spectacles on Archimedes.

http://www.youtube.com/watch?v=2ADo7tkXE6Q

I suppose, by that logic, persons taken out by chemo, radiation or the surgeon's knife could be said to have failed science.

Logic?  Who said anything about logic?  Now I know you couldn't have been addressing me.  G'night Master Stoney and have a pleasant tomorrow.

Ivan, 5:28 AM post...love it!