Saturday, September 13, 2008
Monday, August 4, 2008
Economic Stupidity
Well, Obama has shown his true colors. He is in favor of a windfall profits tax. Last time it was done, under the Carter administration, it caused an increase in the price of oil and oil products, a decrease in domestic production, and an increase in dependence on foreign oil. The worst possible economic situation. So why is he in favor of doing something that is just plain stupid economics? Because he is owned and operated by the far left socialist wing of the Democratic party. Only they would support something that stupid. And they support it because it is anti-capitalist and all they care about is tearing down capitalism.
Harry Reid, Nancy Pelosi and the rest of the Democrat members of the House and Senate believe the same. They talk about nonsense like wind power and solar power because that is what the extreme left of the Democrat party wants to hear. It doesn't matter that it is economic nonsense. They echo what their supporters want to hear.
They say that drilling won't help because we can't pump enough new oil to make a difference. They are wrong again. The world uses about 86,000,000 barrels of oil a day. It consumes about 86,000,000 barrels of oil a day. By increasing our production, we increase the supply and that decreases the price because there is more supply than demand. That is a law of economics. It is called simply supply and demand.
Liberals, Socialists, Communists don't believe in the law of supply and demand. The proof is simply that they refuse to drill here and drill now, because it is their belief that increasing supply will not decrease price. They don't believe that there is such a thing as cause and effect in economics, all they believe in is government forcing things to happen by passing laws and new regulations.
Harry Reid, Nancy Pelosi and the rest of the Democrat members of the House and Senate believe the same. They talk about nonsense like wind power and solar power because that is what the extreme left of the Democrat party wants to hear. It doesn't matter that it is economic nonsense. They echo what their supporters want to hear.
They say that drilling won't help because we can't pump enough new oil to make a difference. They are wrong again. The world uses about 86,000,000 barrels of oil a day. It consumes about 86,000,000 barrels of oil a day. By increasing our production, we increase the supply and that decreases the price because there is more supply than demand. That is a law of economics. It is called simply supply and demand.
Liberals, Socialists, Communists don't believe in the law of supply and demand. The proof is simply that they refuse to drill here and drill now, because it is their belief that increasing supply will not decrease price. They don't believe that there is such a thing as cause and effect in economics, all they believe in is government forcing things to happen by passing laws and new regulations.
Tuesday, May 27, 2008
What to believe?
The average person doesn't know what to believe or who to believe. For example, I watch business programs
on television and they all tell me that the economy is weak but
growing. Other people listen to democrat party politicians who say we
are in a recession. This is the same thing that happened in the 2000
election cycle. Democrat party politicians convinced people that the
economy was doing poorly to help get Al Gore elected, when in fact the
economy was growing quite well.
gains and dividends to 25%. He has no understanding that it will slow
up the economy and maybe throw it into a recession. Hillary wants to
raise capital gains to 25% and in a bizarre opinion thinks that
dividend taxes should be at, I think it is, 39.6% Talk aboutdestroying
the economy. What is it with these politicians. Can they really be that
stupid? Are they just pandering to a certain constituency? What gives?
on television and they all tell me that the economy is weak but
growing. Other people listen to democrat party politicians who say we
are in a recession. This is the same thing that happened in the 2000
election cycle. Democrat party politicians convinced people that the
economy was doing poorly to help get Al Gore elected, when in fact the
economy was growing quite well.
gains and dividends to 25%. He has no understanding that it will slow
up the economy and maybe throw it into a recession. Hillary wants to
raise capital gains to 25% and in a bizarre opinion thinks that
dividend taxes should be at, I think it is, 39.6% Talk aboutdestroying
the economy. What is it with these politicians. Can they really be that
stupid? Are they just pandering to a certain constituency? What gives?
Sunday, February 3, 2008
Stupid
Last weekend, I went to a local jewelry store to pick up my Rollex watch. They had fixed it. I had a conversation with one of the jewerly salesmen at the store and I was shocked at how little he knew about economics and business.
He said that the new economic stimulus package was a great bipartisan package that would get the economy going. I said it was all smoke and mirrors. It doesn’t matter whether you spend a dollar or the US government spends it; It is the same dollar. The package is just a political stunt by politicians to make it look like they are doing something about ending the recession we are not in but they say we are.
He said something like, no that I don’t understand. …that I have a lot of money so I don’t understand how much the tax rebate will help people. I said, ” Yes it will help people but it won’t stimulate the economy, again, a dollar spent by individual tax payers or a dollar spent by the US government is still the same dollar. The way to stimulate the economy is to create new wealth. And you create new wealth by cutting taxes so successful businesses and rich people can reinvest their money instead of seeing it taxed away.”
He then told me, again, that I don’t understand. if the my business slows up I just lay off 200 people and have the remaining 300 do all of the work and I make just as much money. I told him that if my business slows up, it means I make less sales, less profits and therefore less money in my pocket. He said, no you just lay off people.
I repeated myself and said if my business slows up that means less sales, less profits, and less money in my pocket. He told me that I don’t understand.
I told him the same things for the third time.
He looked at the ceiling, said, ” Uh,” and walked away
How could anyone be that stupid? How could someone who makes his living selling expensive watches and jewelry to rich people have such a completely wrong concept of how capitalism works? How could he think that if my business slows up I just lay people off and make just as much money? If your business slows up, it slows up! What part of that didn’t he understand?
He said that the new economic stimulus package was a great bipartisan package that would get the economy going. I said it was all smoke and mirrors. It doesn’t matter whether you spend a dollar or the US government spends it; It is the same dollar. The package is just a political stunt by politicians to make it look like they are doing something about ending the recession we are not in but they say we are.
He said something like, no that I don’t understand. …that I have a lot of money so I don’t understand how much the tax rebate will help people. I said, ” Yes it will help people but it won’t stimulate the economy, again, a dollar spent by individual tax payers or a dollar spent by the US government is still the same dollar. The way to stimulate the economy is to create new wealth. And you create new wealth by cutting taxes so successful businesses and rich people can reinvest their money instead of seeing it taxed away.”
He then told me, again, that I don’t understand. if the my business slows up I just lay off 200 people and have the remaining 300 do all of the work and I make just as much money. I told him that if my business slows up, it means I make less sales, less profits and therefore less money in my pocket. He said, no you just lay off people.
I repeated myself and said if my business slows up that means less sales, less profits, and less money in my pocket. He told me that I don’t understand.
I told him the same things for the third time.
He looked at the ceiling, said, ” Uh,” and walked away
How could anyone be that stupid? How could someone who makes his living selling expensive watches and jewelry to rich people have such a completely wrong concept of how capitalism works? How could he think that if my business slows up I just lay people off and make just as much money? If your business slows up, it slows up! What part of that didn’t he understand?
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