Yves Smith, filling in for Glenn Greenwald — who is “away” — writes that the “business needs certainty” meme is a pile of hooey. Highly recommended reading.
See also Steve Rattner, “Republican Extremism, Bad Economics.” The Republican nomination process has become a race to the Right into Crazeeland.
Reinforcing Rattner, Ezra writes about “Rick Perry vs…Milton Friedman?” Wingnut economic theory has left the Ayn Rand acolyte Friedman in the dust.
Bruce Bartlett, “It’s the Aggregate Demand, Stupid.” Wingnut economic theory has left Mr. Bartlett in the dust, too.
Steve Benen, “Right Rejects Buffett’s Good Advice.” Of course they do. Because they are too stupid to grasp that if someone like Buffett wants the wealthy to pay higher taxes, he is not just being altruistic. Buffett is arguing for his own self-interest, which is a politically and economically stable United States. Some bleeping idiot on Faux Nooz actually called Warren Buffett a socialist. Un-bee-lee-vah-bull.
If you don’t believe in Keynes.
And you don’t believe in Friedman.
Whose is the economic theory that DO you believe in?
Jesus?
Nope, can’t be him. He was a Keynesian.
The only thing any, and every, current Republican has as far as an economic theory is:
“Whatever pisses-off Obama, the Democrats, and Liberals.”
On Perry:
Here’s a purported Republican from Texas who’s not at all happy with Perry.
Some stuff about strippers, adultery, a hint at coke use, and other salacious stuff.
http://www.stuffedsuits.com/news/national-politics/721-fraud-rick-perry-is-political-herpes
I’m not sure how true any of this is, if any, but it was sure fun to read!!!
Is it irresponsible to speculate?
It would be irresponsible not to!
Perry’s comment on Bernanke — that it would be “treason” if the Fed did anything to help the economy — reveals the Republican playbook: keep people in misery until the election, the better to defeat Obama. It’s nothing new, but Perry’s particular way of expressing himself is a Texas-sized chunk of red meat that will rouse his base but some independents might find themselves choking on it.
Unless he’s running for the President of Texas, I think he’s off to a questionable start. I don’t think he’ll play nearly as well on the national stage as he does in his home state.
As to the “business needs certainty” meme, the difference between business prescriptions for their own viability and that of its workers is striking and telling. To hear corporate spokespersons explain it not everyone willing to work will win the jobs lotto and whatever doesn’t kill them makes them stronger. But then they want it both ways, using the excuse of harm to workers is their business environment is not cushy and riskless to the max with subsidies and protections that would never motivate them to be lean and mean or to emerge from challenges put to them as the fittest survivors. If only the rest of us could get the guarantees they consider their birthright. Corporations are people now but a higher class of person than the rest of us.
I hear ya Pat; Business is not supposed to sail on the bay if there are white caps, but the working class should play in the hurricane, and be happy they can play?
What crap!
(Pat – You would probably agree that we have managed to invent a system/society in which the privilege of disposable income is contingent on the existence of disposable people.)
As to Friedman – I didn’t weep when he died. “Corporations have no business engaging in socially beneficial acts. Corporations have no social responsibility. Corporations are only responsible for making as much profit as possible.” (Somebody should have run that quote by the SC before it decided that corporations were persons. Or, can we assume from the SC ruling that people also have no social responsibility? That would be a fun place to live.)
Calling him a socialist is of course inaccurate, he’s more of a fascist. He wants State and buisness to ‘cooperate’ to run things for the little people.
The right reply to Buffets supposed deep meaningful conscience was already articulated….Ok Warren, let’s see you write that big check yourself, of your own free will, right now.
And what UFO did you fly in on, dear?
Troops: Should I twit-filter the nitwit now, or do you want to play with him first?
Why, the one from the planet of reality. You should visit it sometime, you might learn something. I’m not surprised to find this blog is one which will shut up opposition.
Buffet profits and has profitted immensely from ‘partnerships’ where his companies suck at the public teat, something I had thought the left would oppose, but of course this is really just payment for something the State wants to have done. This intimate financial and legal backscratching is nothing more than fascism, the other brand of collectivism where the State allows private companies to retain paper title… thus technically not being State owned socialist enterprises. So Buffet exhorts for taxes because he knows his nose will be in the trough of other people’s money farther than anyone elses.
IF Buffet actually thought he should pay more, why then not one single person is stopping him from writing that big fat check for say 40% right off the top. But he won’t, because his interest is in feeding at the trough filled mostly by other folks.
I must say the echo chamber you grow by banning posts is not exactly an exemplary tactic for someone who claims to be open minded. It would appear you’re only open minded to what you already believe.
I do not in fact shut up opposition. But if you post a contrary viewpoint, you are required to offer a supporting argument that includes whatever data is necessary to make you point, plus links or other documentation to your sources (see comment rules, particularly #7).
Calling Warren Buffet a fascist is not a supported argument. If you want to present that argument you are free to do so, but it must be done in the context of a definition of “fascist” that is generally agreed upon among political scientists. You don’t get to call him a fascist just because you disagree with him. It is extremely unusual for righties to be able to do this, I’ve noticed, since most of you just brainlessly repeat whatever nonsense you’ve heard elsewhere without ever thinking about it real hard.
Further, Warren Buffet is not arguing for higher taxes on the rich because it pleases him to pay taxes. He is making that argument because it is in his own long-term financial interest. That’s because much of the continuing erosion of the U.S. economy and way of life has been caused by the Bush tax cuts (see also this), and Buffet is smart enough to know that a financially and politically unstable United States is going to bite him eventually. His just throwing some extra money at the government, however, is not going to benefit him in any way. Thus, the second paragraph of your comment was likewise ignorant.
Regarding echo chambers — at this point I maintain the blog for a group of us who need a refuge from the incessant drone of groupthink and hysteria being perpetually generated by righties like yourself. If we wanted to argue with drooling idiots, we could find plenty of other blogs for that.
I will allow you to post another comment if you wish, but if you don’t play by the rules you will be banned and the comment deleted.
peterp is funny!
Isn’t it amazing how, apparently since 2009, a man over 80 years old was suddenly turned into a “Fascist” by that noted Brownshirted Stormtrooper Obama?
That must be some powerfull juju our Kenyan/Socialist/Communist/Fascist/Atheist/Muslim/Heathen/Islamasist Usurper cast over Buffett!
What a dope. What a maroon!
peterp, please reassure the rest of us, and tell us that you didn’t have any children, so that your families particular moron-gene dies with you.
Understanding the role of taxes in an economy is against wingnut religion. Taxes R OB DE DEBBLE, so anyone who wants them raised (except payroll taxes, of course) must be EEEEE-vul. And what’s more evil than a fascist?
Brainless twits, perhaps?
Understanding ANYTHING is against wingnut religion!
Never have so many, been so proud of being so stupid!