Looks like The Wall Street Journal is losing faith in our High Priest Central Planners/Banksters at our public/privately Central Fascist Cathedral The Federal Reserve Bank of New York. Interesting that this should be happening right in the middle of "The" Great Recovery from "The" Great Recession.... Of course, if you own stocks or have a penchant for picking the meat off the bones via 'good deals' on taking houses off the poor (and renting back to them once they get on welfare) then probably Bernankio's centrally planned 'recovery' worked quite well indeed. Let's see how that works out for us in the long run. Ooooh, I see the NSA Spying Act.... errr, I mean "The" USA Freedom Act is rolling around..... LOL, Orwell would get a real kick out of that one. Thank the Gods for Central Planners. Everything is Awesome in the Land of the Fleeced, Home of the Slave.
So you have swallowed the latest WSJ revision and bs - gullible little guy, aren't you? The WSJ has been predicting high inflation rates from US Federal borrowing right along, just as Bernanke pointed out, and preserving deniability by contracting this politically motivated agenda to various columnists and suchlike it prints by the ream does not hide the strings. Here: http://www.wsj.com/articles/SB124458888993599879 or here: http://smallbusiness.house.gov/news/documentsingle.aspx?DocumentID=203975 or here http://www.wsj.com/articles/SB10001424052748704893604576198703033844010 or here: http://www.sanders.senate.gov/newsr...-set-to-reach-decade-high-wall-street-journal And so forth and so on.
Well an opinion piece in a Rupert Murdoch rag isn't news. It's just red meat for the idiots. The fact is Bernanke did a great job. He was innovative and aggressive and given our circumstances that is exactly what was needed. It's kind of funny to hear Republicans complain Bernanke didn't do enough when Republicans did everything within their power to thwart the recovery. Congressional Republicans had effectively taken fiscal stimulus and remedies off the table, so all hope a continued recovery lay with the Fed. Fortunately for the nation Bernanke and other members of the Fed stepped up to the plate and created some innovative solutions and they obviously worked. And now Republicans are complaining that they didn't work well enough or fast enough. Well where were they when all this was going down? They were trying to subvert the recovery. If Republicans had been willing participants in the recovery instead of trying to torpedo it at every opportunity (e.g. multiple debt default threats, and an actual government shut down, etc.), then their complaints could be taken more seriously. But that wasn't the case.
SSO: Wage Statistics for 2013 May 11, 2015 Please Register or Log in to view the hidden image! -39 percent of American workers make less than 20,000 a year. -52 percent of American workers make less than 30,000 a year. -63 percent of American workers make less than 40,000 a year. -72 percent of American workers make less than 50,000 a year. SO? What happens when we raise the minimum wage? Well, those who are worth $X dollars an hour get to keep their jobs. Those that aren't - don't. But, as a consultation prize they do get to keep the inflation. The path to prosperity is lined with freedom / FREE MARKETS, sound money and laws that protect property and uphold contract. As a matter of fact, these bring out the best in people. The ONLY way to make money in such a society is through voluntary trade with the free people around you. Making a profit in such a society is a virtue. Being profitable is virtuous. It means you're providing people with the goods and services they desire WITHOUT initiating violence against them. Outside of (maybe) the internet, we don't make 'profit'[ in the USA. We make spoils. Whether those spoils are made virtuously, is anyone's guess. But people simply hate living in a free society. They'd much prefer to live as tax chattel. Tax chattel to a king, an emperor, a shogun, a sultan, a caliph. They like their alpha male monkeys telling them what they can do, who they can do it with and how they can do it. It makes them feel safe knowing their one chattel in a big herd of other chattel. All with the same identity stamp. American, Christian, German, Muslim, Jew, etc.... Thus, rich societies must collapse back down to poor societies. Poor enough to be forced into becoming free again - and this can only occur once they can no longer afford to feed both themselves as well as their farmers. If there's even a hint of food to support their farmers, they'll go without and do so for the 'insert collective' so-called good. Luckily for us, we have a LOT of energy stuffed in the ground. More than enough to support both the farmer and the farmers and charade of 'social good' for many decades. So, we'll have to wait until our big fat planet starts to die off first. Thus, while you're enjoying the New Economy, our Regulators maintain for themselves - please take a little time out to wave a flag for one of your highly paid regulators. Perhaps Hilary or Bush III?
This painting just sold for a record $180 million dollars. Good thing Bernankio bailed out the richest 0.1% and other crony capitalists. Yes, my father says thank you - he's living pretty good on his $5000 a month GM pension. Has been since he was 47. A lot of his friends are telling him he's also eligible for a whole host of other goodies like disability payments. How nice of the State to bailout an incompetently run automotive company and then buy the votes off the union members who helped run it into the ground. Good thing the Government 'regulates' the markets making sure we're all safe from one another. State violence for the 'Good' of society / the oxymoron that is Progressive Socialism. Now we don't have to worry about all those free-market voluntary jobs that would have been created. Nope. Most Americans can instead work as functionally illiterate State certified hyper-regulated-cogs on State mandated minimum wage on the State farm. Please Register or Log in to view the hidden image! Do make sure you enjoy "The" Great Recovery.
As an aside, let's think about The Company Town and it's Company Store. Every now and again you'll hear someone say 'free markets' means we'll all have to live in a company town, where practically all stores and housing are owned by the one company - that is the only employer. The "Company" provides infrastructure (housing, stores, transportation, sewage and water) to enable workers to move there and live. Thus making it nearly impossible to leave. But get this, you ARE free to leave. You do NOT have to pay back your loans, you may legally enter into bankruptcy. And you DO have freedom of movement. You can leave and move thousands of miles away and start over - even if it means walking. You ARE free to do this. Want to know what's better than owning a Company Town? Running a State. See, in the State, the State owns everything - you pay your property 'tax' / rent to the State 'for the Good of Society' and there's no leaving. You are NOT free to leave. You are also liable to whatever debts the State has incurred from before you where even born. You must pay for those too. If you're an average joe, and not one of the 0.1%, then you're probably paying 40 - 50% of your productive capacity to the State in various taxes and hidden fees and market inefficiencies. And you love your State. Your State provides you with extremely low quality 'education' where you pledge yourself to it as symbolized in a peace of cloth (and graduate as a functional illiterate) and happily accept your role to die as cannon fodder in it's phony wars or work in it's hyper-regulated 'markets' as a labor cog on minimum State mandated wage. Oh, and the nice thing is, unlike The Company Store, the State can legally kill you - even when you're innocent. Perhaps The Company should have invested in 'Schooling' for it's citizens.... errrr "employees". Perhaps it did? Nice to see Bernankio bailed out the crony Bankers who own our Central Bank. Instead of living in the poor house, they're buying $180 million dollar Piccaso's. If you're lucky, maybe they'll drum up some 'work' as cannon fodder in the next War on "insert adjective".
In reality, the Company does not "provide" housing, stores, transportation, etc. Instead, the resident purchases them, as in any capitalist setup. What the Company does is eliminate the "free market" sometimes involved in such capitalist exchanges. Capitalists make much more money (short term) without free markets, which is why they work so hard to get rid of them, and why one's government has to put so much effort into keeping them from succeeding in their efforts and establishing, for example, Company Towns. And in reality, people trapped in such circumstances are not usually able to leave. For starters, most of them are children or have children. Continuing: They do not enjoy the privilege of bankruptcy to cancel their debts to the Company - the Company legal department wrote those laws - and they do not have the resources to escape even by walking (one needs shoes, food, water, etc). Should they be in the unusual position of being able to escape - healthy, childless, not in debt to the Company, able to feed themselves by foraging in the ditches, etc - there remains the question of where they are to go. No other Company will accept them, of course, so employment or residency in another town is not an option. In the days of feudalism, such refugees joined wilderness gangs. In the days of plantation slavery, they joined wilderness gangs. In the modern Chinese and similar Asian operations they often have rural homes to return to, a kind of populated "wilderness", but not much in the way of freedom is gained thereby. We are a bit short of both wilderness and rural homes, these days in the US, but we have inner city slums that work as outlaw refuges so far - that's where the black people fleeing the company town setups of the Confederacy usually ended up. Is that what you had in mind?
Now go take a good look at Government Welfare ghettos. You talk about the Government 'protecting' free markets?! Give me a f*cking break. The Government IS the Company. Only worse, the Government can also initiate violence against totally innocent people. If you wanted to start a competing company - you'd be shot. That's treason. And ALL markets are regulated by The Company/Government. Don't worry, things will continue on until the ecosystems of Earth begin to collapse. Then we can all live as Citizens of various quazi neo-Feudalistic Corporations who function in the role of Lords of the various States. Which is pretty much how is is today. The People are more than happy to sell off their children to maintain the statuesque. It doesn't matter what type of rulers they're selling to. It's what they do.
1) It was not (and could easily be made not) legal to contractually prevent someone from discharging debts via bankruptcy. While this itself is an interesting question as to how a totally free society would deal with people voluntarily selling themselves into debt-slavery, historically this was dealt with by bankruptcy. Also, it's certainly not legal to sell your children's labor contractually. Of course, now the State / The Company does sell generational debt - all of which cannot be written off in bankruptcy other than through inflation wiping out everyone who hold said currency. 2) Up until Whites pasted minimum wage Laws backed by violence of the State, Blacks were moving off the company towns (get this, it's pretty easy for one moral good middle class person to buy or hire a bus and load up 100 people and take them off the Plantation to elsewhere) and moving up to New York where they were working and creating value in construction. SO much so they had a LOWER divorce rate and were rapidly becoming richer than Whites! Without ANY HELP from the State their literacy rates were skyrocketing and they were becoming rich. Kind of like the Chinese of today. Of course, Whites used the State to put an end to this - thus setting up and finally ushering in The Great Society where Blacks were resigned to live in State run Welfare Ghettos for "the Good of Society' and because they "use the roads". ** Note: Good thing for those of use who BUY electronics and automobiles Whites lack the ability to pass wage laws in Japan, Taiwan, Hong Kong, Korea and China. If Whites had their way, only the rich would afford an iPhone. Or MAYBE you'd get a smart phone loan out to go with your car loan.
Again, you cannot see what's in front of your face. Go to a State run Government Welfare Ghetto. In the Ghetto where the roads, houses, schools, police, parks, - everything, is owned and run by the State. Where State enforced regulatory capture has ensured there are NO ways of providing value without State licencing scams (for the Good of Society because We Use the Roads) you'll find those very same GANGS you're talking about. And get this, they're there for the exact SAME reason you talk about! But, again, we needn't worry. So long as we can pollute the earth, then we can continue on with this insanity. I think, that's for some time to come.
That enrichment came after, not before, the New Deal minimum wages. They were of course learning to read and write in government schools, where before in their Company Town schools they were not learning to read and write - in fact were historically forbidden to read and write, and were still persecuted for undue diligence in education. Government schools, like government bans on racial segregation etc, government protection from Company Town thugs, etc, count as "help from the State". And the entire migration was based on finding a State that had more stringent regulations on its Companies. Because Company Towns are bad news. We all depend on our government to prevent them, or failing that break them up.
