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« Cottoning on to a New Reality | Main | The New Substitution Effect »

November 05, 2008

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welcome back to the real world,I voted for Obama but I fear for the future,
83 years of experience tells me that there are very dark clouds on the horizon

Her Majesty enquires:-
"The Queen spoke for the nation yesterday when she asked how the credit crunch could have taken so many economics experts by surprise.

She described the financial crisis as 'awful' and inquired that, since the meltdown was so massive, 'Why did nobody notice it?'

The royal concern was revealed at the London School of Economics, where she opened its £71 million New Academic Building.

Professor Luis Garicano, director of research at the LSE's management department, said: 'The Queen asked me, "If these things were so large, how come everyone missed them?".'

I'm not Professor Luis Garicano,but my answer to the QUEEN WOULD BE:
3 MAJOR FORCES negate positive thinking
1 if the POPE SAYS THE EARTH IS FLAT,THEN IT IS FLAT,if you where
programed to believe that at 5 years of age good chance you die
with that belief still in your head,2 desire to be right,these
people will gather only information that seems to confirm their
assessment.3 Paycheck:if your income depends on agreeing with
the bosses

The hunger problem Is a terrible thing. I'm one of the common unwashed of the chattering class that didn't believe in the bailout, or at least as extensive as they've been. Imagine how some of that money spent to enrich stock prices and traders could have been used to reduce hunger. The dichotomy between bailing out people that wear shirts and ties to rob us and allowing those who are poor to go hungry is astounding. Food for the hungry or tax breaks and bailouts for those that need it least?

"Through primarily USDA and the Food and Nutrition Service, we have a robust annual budget for domestic nutrition assistance. In 2008, those amounts are estimated to be about $62.5 billion, and for 2009, about $66.6 billion."
http://www.whitehouse.gov/news/releases/2008/05/20080501-23.html

And the total direct cost of all the various bailouts when all is said and done could be 30 times that. Yeah, I did the math.

Just a few days ago I remember seeing an article about hunger in Massachusetts:

"Associated Press - November 2, 2008 9:34 AM ET
BOSTON (AP) - An anti-hunger organization is reporting that more than half a million Massachusetts residents lack enough money to put nutritious food on the table.

Project Bread said more than 8% of the state's households could not afford to buy enough healthy food from 2004 to 2006, the most recent years for which statistics are available.

That's up from the 6% during the years between 2001 to 2003."
http://www.wten.com/Global/story.asp?S=9279461

Hold on tight, at some point this iceberg is going to roll.

Dear Ms. Queenie,

Lots of smart people noticed it, years ago.

Apparently, you didn't read their books or blogs.

I wonder how many of these people lining up for handouts are carrying cell phones and have 150 TV channels at home? Priorities. Ridding one's self of those two items would probably be a big help in meeting the cost of food. And then there is this incessant American need to be driving around all over the damned place and not stay home with their families. How much gas money would you save? Am I talking to myself out here in internet land? It always seems like it.
(I do sympathize with those who really do need help and haven't been living high on the hog and squandering their money foolishly.)

When G.M.'s CEO comes calling at Treasury's door for a hand out, let's "make him an offer he can't refuse": "We will give you ten cents a share, and take over GM. Take it or leave it. We will employ the hungry, the needy, to build your "Volt" and also train them to build solar panels, with which to charge their new automobiles, reducing the need for imported carbon-based fuels, lessening the burden on power plants and best of all, reducing their need to spend their hard earned cash on fuel.... Or you can go bankrupt, and we will just nationalize G.M. Take it or lump it, your choice. You had your chance to build autos the public needs, but instead pissed your cash away doing things like lobbying Bush to remove the mileage requirements, to the point Bush gave tax breaks to those purchasing gas-guzzling SUV's.

Now go stand in line for a bite of turkey."

Talking to Myself said:

I wonder how many of these people lining up for handouts are carrying cell phones and have 150 TV channels at home?


I do, and I don't apologize for one second!

I have a prepaid cell phone - ditched my landline six months ago - which I use primarily for incoming calls (I try to save outgoing calls for times when I have free access to someone else's landline). My cell phone costs me $5 per month. ($5 is the minimum airtime I can add, unused minutes expire after 30 days unless more time/money is added, in which case unused minutes roll over. So there isn't any practical way to get my phone cost below $5 per month. Note that I never had a cell phone until I ditched my landline.

Also, I rent a room in a house with nine people. DirecTV (TM) is included in the rent, i.e. getting rid of it would save me zero dollars.

p.s. Here in Portland, the demand for Section 8 housing subsidies is so great that last fall, when they briefly reopened the waiting list after several years, a lottery was held to determine who got on the waiting list. Over 8,000 people competed for 3,000 positions on the waiting list. (I was not a winner.) It will most likely be several more years until the waiting list is reopened; many Section 8 vouchers are returned unused because even people with Section 8 vouchers cannot find Section 8 housing.

sysin3 said:

Dear Ms. Queenie,

Lots of smart people noticed it, years ago.

Apparently, you didn't read their books or blogs.

People didn't have blogs years ago.

sysin3 said:

Dear Ms. Queenie,

Lots of smart people noticed it, years ago.

Apparently, you didn't read their books or blogs.

People didn't have blogs years ago.

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