Category: Finance & Economics

Aggregate Effects of the Top 1%

Consumers drive 70% of GDP. Earners in the top 1% of income have received 93% of the income growth since the depths of the Great Recession (Bloomberg). A surprising fact about those high earners. They only consume 21% of their income (Tax Policy Center).

Aggregate Effects in the National Economy

Some people argue that raising the minimum wage will hurt the lowest tier of workers because it will cut the number of jobs that are available to them, yet the statistics show that does not happen. How can such a reasonable line of logic fail to lead to a valid conclusion?

Euro Divergence

When you strip away all the non-economic aspects in Euroland and just focus on the currency, they basically have created fixed currency ratios (only to a single standard rather than to each other’s currencies). Fixed exchange ratios (a la SNAKE) always fail, because there remains different inherent productivity rates which must alter exchange rates –…

Secession of the Rich

The super-rich, the 1% of the 1%, those that can afford to finance superPacs Send their children to private schools Live in gated communities Avoid the constraints of HMOs, Medicare, and Medicaid They see no personal benefit from public services, so their taxes should be cut.  They are against any public policy that requires taxes…

Grand Pursuit – Sylvia Naser

Subtitle – The Story of Economic Genius I’m about ¾ finished.  Too much biographic detail, gives context for economic problems arose in, but too much biography obstructing the view of the theory for my taste. Pre-WWI Panics. Slowly, dawning recognition of relationship between falling prices, amount of currency in circulation Post-WWI Hyperinflation. Printing of money…