More good economic news

[paladin1991]

I ain't watching no damned Denzel Washington movie. Hello, 1995 wants its actors back. I do like Gene Hackman though. It's actually submarine movies that I generally avoid. I get weird after watching them; The Hunt for Red October for example makes me pine away for the Soviet Union, Ronald Reagan and Thatcher and then I wake back up and see Joan Rivers alleging that Michelle Obama is a transsexual, the border's gone, and Premiere won't let Art come out of retirement. It's like living in the fucking twilight zone.

Alleging? What?  NO!  She's a Wookie. 

[b_dubb]

Alleging? What?  NO!  She's a Wookie.

I did it all for the Wookie

[PB the Deplorable]

Here is a link talking about why the Trillions of dollars of new money in the system haven't caused massive inflation or destroyed the currency.  Yet.  It's just an article on a new Fed report, and not all inclusive, but they are on the right track.

The article is from CNBC.com.  Hopefully that site is acceptable to those who denounce anyone explaining how the money supply and 'velocity' actually work in the real world as a 'Neocon'.

I also realize the people at the Fed who put out the report are economists who haven't sold out to the Obama Administration yet, the way Robert Reich and Paul Krugman have, so I get that they will probably also be suspect.

http://www.cnbc.com/id/101963821

[NowhereInTime]

Here is a link talking about why the Trillions of dollars of new money in the system haven't caused massive inflation or destroyed the currency.  Yet.  It's just an article on a new Fed report, and not all inclusive, but they are on the right track.

The article is from CNBC.com.  Hopefully that site is acceptable to those who denounce anyone explaining how the money supply and 'velocity' actually work in the real world as a 'Neocon'.

I also realize the people at the Fed who put out the report are economists who haven't sold out to the Obama Administration yet, the way Robert Reich and Paul Krugman have, so I get that they will probably also be suspect.

http://www.cnbc.com/id/101963821

You left out Joseph Stiglitz and Thomas Piketty, who would concur with Reich, Krugman, and Michael Pento; consumers are not "hoarding" cash - they don't have any.  The article correctly identifies that banks are sitting on nearly 3 trillion (that they're not lending) and "households" just over 2 trillion.
The St Louis Fed doesn't factor out how many (or, actually, how few) of these households control the cash. Those in the upper 5% have the cash but no need to spend while the lower 95% don't have cash but would like to spend. They took stimulus money to pay down debt.
This is why home sales are still soft, auto sales tepid and no movement in the interest rates.  The Fed can start ramping up interest if they want to, but to what end? Stagflation?
No, if you read the article completely (and I commend your source -I actually post there often; it is a great site), you will see the St Louis Fed fails to substantiate the foundation of their assertion. And no other Fed has joined in.
More failure from St Louis? Sound familiar?

[Gd5150]

"Fed: US consumers have decided to 'hoard money'"

Shows how totally out of touch the federal govt is. US consumers don't have any money. Wages are a joke, and thats if you're one of the lucky ones who has a job. Add to that the price of everything has gone up a zillion percent while take home pay has tanked. Ask anyone who's working, or unemployed, they'll tell you how bad the economy is. From middle wagers buried by student loans, to small business owners buried in taxes and regulations, to middle and upper management being canned or hung with double and triple responsibility. Doesn't matter what the administration, the media says or the stock market is. The last 8 years have been the worst since the depression and there is no reason to think they'll get better. Baffoons who are totally out of touch and clueless run the country. The only people doing well are the 1/2%, hence why the stock market is booming. The money is still in the economy, its just in a lot fewer people's hands.

[Quick Karl]

"Fed: US consumers have decided to 'hoard money'"

Shows how totally out of touch the federal govt is. US consumers don't have any money. Wages are a joke, and thats if you're one of the lucky ones who has a job. Add to that the price of everything has gone up a zillion percent while take home pay has tanked. Ask anyone who's working, or unemployed, they'll tell you how bad the economy is. From middle wagers buried by student loans, to small business owners buried in taxes and regulations, to middle and upper management being canned or hung with double and triple responsibility. Doesn't matter what the administration, the media says or the stock market is. The last 8 years have been the worst since the depression and there is no reason to think they'll get better. Baffoons who are totally out of touch and clueless run the country. The only people doing well are the 1/2%, hence why the stock market is booming. The money is still in the economy, its just in a lot fewer people's hands.

Wasn't it Charles Foster Kane of New York Inquirer fame, that hired the best journalists available and rose to power by successfully manipulating public opinion regarding the Spanish American War, that said the news was whatever he said it was?

[PB the Deplorable]

... consumers are not "hoarding" cash - they don't have any.  The article correctly identifies that banks are sitting on nearly 3 trillion (that they're not lending) and "households" just over 2 trillion...

Consumers are anyone who spends money - individuals, corporations, governments.  Often it's borrowed from a bank before it's spent.  Banks would much rather loan money - as long as they are going to be repaid - than just sit on it.

So it's incorrect to claim the collective 'they' don't have any.  As the article points out, and you agree, individuals and banks have 5 trillion siting on the side lines.  Plus however much corporate America has stashed away.

With an anti-business President, a poor recovery, economic uncertainty, plenty of political uncertainty worldwide - and not to mention the next ObamaCare shoe to drop in January, few are expanding or hiring more than the absolute minimum.


By the way, inflation is not 2%, or whatever the 'official' stated rate is.  The reported rate does not include key consumer items, including - if I remember correctly - food, energy, housing, because they are considered too 'volatile' and would 'skew' the inflation. rate.  So as long as a person isn't eating, putting gas in their vehicle, or paying rent, they aren't seeing much inflation yet.

[onan]

So how is the economy, wages, and inflation different today than 8 years ago? 12, 16, or 20?

Big business has been putting downward pressure on (especially) blue collar workers for more than 3 decades. If your average and most plentiful consumers can't afford to spend money, capitalism tanks, at best, and if worse than that becomes cannabalistic.

[PB the Deplorable]

... Big business has been putting downward pressure on (especially) blue collar workers for more than 3 decades...

This is a direct result of our immigration policy.  And I'm not talking about the current situation on our southern border.

When we have low skilled or moderately skilled workers immigrating here from all over, it's going to put downward pressure on middle class and lower middle class jobs and pay.  Supply and demand.  It absolutely decimates the poor (the undereducated and unskilled) and the jobs and pay available to them.

In a well functioning competitive economy (and this is not one), companies don't set pay rates, the market does.  If a company wants to hold down pay, workers leave for other jobs. 


Of course there are other factors - exporting jobs overseas is a big one, people stuck or simply want to stay in an area without many job options, etc.  But it's not like a bunch of CEOs woke up one day and said, 'hey why are we paying all these people so much' and decided to start slashing pay.

[PB the Deplorable]

So how is the economy, wages, and inflation different today than 8 years ago? 12, 16, or 20?...

Have you seen how much we've added to the national debt, what the balance is now, what percentage of GDP the balance is now?  Or the amount the actual money supply (M3) has increased? (the M3 growth rate is so bad the Fed doesn't even release the number anymore, but they release enough other data that people can still calculate and follow it).

I'm not sure which is more alarming.  It's certainly is not sustainable, and history is not on our side as far as what ultimately follows.  I wouldn't hold much in $US or $US denominated assets.

[onan]

But it's not like a bunch of CEOs woke up one day and said, 'hey why are we paying all these people so much' and decided to start slashing pay.

It is exactly that. Maybe not in so few words, but it is exactly that.

[onan]

Have you seen how much we've added to the national debt, what the balance is now, what percentage of GDP the balance is now?  Or the amount the actual money supply (M3) has increased? (the M3 growth rate is so bad the Fed doesn't even release the number anymore, but they release enough other data that people can still calculate and follow it).

I'm not sure which is more alarming.  It's certainly is not sustainable, and history is not on our side as far as what ultimately follows.  I wouldn't hold much in $US or $US denominated assets.

Our debt keeps growing because we don't collect the taxes we should. North Carolina just lost Toyota moving one of their assembly plants to the state. North Carolina offered more than 50 million in tax breaks... and it wasn't incentive enough... WTF is wrong with elected officials? No one should be giving companies that kind of break.

[albrecht]

Our debt keeps growing because we don't collect the taxes we should. North Carolina just lost Toyota moving one of their assembly plants to the state. North Carolina offered more than 50 million in tax breaks... and it wasn't incentive enough... WTF is wrong with elected officials? No one should be giving companies that kind of break.

Usually they are lining their own pockets in some fashion; either outright (rarer but still done) or just politically: "look I brought 4,000 jobs and a new factory!" (then politician gets more votes, gets those union funds (depending on state prob- not in NC), gets donations from the corporation, etc.) He doesn't care that a decade later the state or county or city has yet to re-coup what they are losing in taxes or that as soon as the "deal" is over that the company might shut-down or move. Or that it is a from a crony-capitalism that hurts the local businesses or competitors because they don't get the sweet-heart deal.

I also don't the "light-rail" scams. Huge deals, prominent press, "going green", but usually mismanaged, goes places people don't want to go at wrong times, and goes over-budget by millions. And guarantee "jobs" and contracts from the company who builds the boondoggle. Also building stadiums and race-tracks for multibillionaire owners and sports franchises. WTF? If they are profitable then the business man or sports franchise should pay for building them. City could help with zoning, etc but not tax-payer build it all so they can make money?!?

Politicians don't usually look after the people's interests or even those of their city, county, state, country....

[PB the Deplorable]

Business is evil, government is good.  People who earn their way should be stripped of it and given to those who don't.  Government has first claim on our earnings and they know best how to spend it.  If a crisis does come, it will be because people kept too much of their own money.

It's too bad Marx and the 'Progressives' couldn't repeal the laws of economics while they were creating their Utopia.

[onan]

Business is evil, government is good.  People who earn their way should be stripped of it and given to those who don't.  Government has first claim on our earnings and they know best how to spend it.  If a crisis does come, it will be because people kept too much of their own money.

It's too bad Marx and the 'Progressives' couldn't repeal the laws of economics while they were creating their Utopia.

It all depends on your perspective, I suppose. No not everyone in business is evil. Continuously pushing for higher productivity and cutting staff doesn't make a case for caring of employees. In 2010 (IIRC) Time Warner made a gross profit of over 44% and a net profit of almost 10%. So they decided they could make more by outsourcing to another country. Not Snidley Whiplash evil but certainly uncaring to those they had employed for years previously.

[albrecht]

It all depends on your perspective, I suppose. No not everyone in business is evil. Continuously pushing for higher productivity and cutting staff doesn't make a case for caring of employees. In 2010 (IIRC) Time Warner made a gross profit of over 44% and a net profit of almost 10%. So they decided they could make more by outsourcing to another country. Not Snidley Whiplash evil but certainly uncaring to those they had employed for years previously.

I think it is more of like what Lord Acton said. Unfortunately what we have is a system that encourages both government and businesses to get way too big and has a symbiotic relationship. The government (on all levels) writes laws, tax codes or abatements, and enacts onerous regulations, to help select corporations/groups by regulatory capture, in exchange for political donations. Top people move in between government and the so-called private sector.

The system they are trying for, (I hope not the Chinese model) is a German model some of which still works today where you have several very large corporations to give jobs to the masses, ensure social stability (but not so much social mobility), and pays taxes to the bloated government who in turn writes laws/regulations to keep competition away and keep the people happy in their station in life (football, beer, healthcare, schooling/training for future job, steady employment, etc.)

This is a relatively benign model compared to efforts before so this type of corporate/government relationship tried by countries, incl Germany in the past and certainly in theory good also "go wrong." But seems to work in that culture at least. But it does hurt individual freedom, hurt small and mid-size businesses who find it hard to comply with the regulations and don't get tax-deals, and provides less social mobility (but more of a so-called "safety-net" for those at the bottom. And can be threatened by unexpected economic hits (so we get the "too big to fail" situation at DB or Siemens, for example.)

[NowhereInTime]

Consumers are anyone who spends money - individuals, corporations, governments.  Often it's borrowed from a bank before it's spent.  Banks would much rather loan money - as long as they are going to be repaid - than just sit on it.

So it's incorrect to claim the collective 'they' don't have any.  As the article points out, and you agree, individuals and banks have 5 trillion siting on the side lines.  Plus however much corporate America has stashed away.

With an anti-business President, a poor recovery, economic uncertainty, plenty of political uncertainty worldwide - and not to mention the next ObamaCare shoe to drop in January, few are expanding or hiring more than the absolute minimum.


By the way, inflation is not 2%, or whatever the 'official' stated rate is.  The reported rate does not include key consumer items, including - if I remember correctly - food, energy, housing, because they are considered too 'volatile' and would 'skew' the inflation. rate.  So as long as a person isn't eating, putting gas in their vehicle, or paying rent, they aren't seeing much inflation yet.

You are making a semantic point; 95% of consumers do not have discretionary or disposable means to send the economy into an overheated position that might require interest rates to rise.
As i said before, the 5% who do have no impetus to spend; they could move the economy but they want for nothing. So much for getting rid of the "death tax".
As to the argued true inflation? I agree with you; I've never understood why consumables aren't measured, only durable goods.  I've made the point before that the truth on consumable commodity inflation stems as much from speculative play (by the aforementioned 5%, who want for nothing but want more) as it does from true demand.
Commodity inflation is not so much a function of monetary policy as it is (admittedly simplisticly) the rich taxing the poor. Maybe that's why it isn't included in the inflation estimates.

[NowhereInTime]

Business is evil, government is good.  People who earn their way should be stripped of it and given to those who don't.  Government has first claim on our earnings and they know best how to spend it.  If a crisis does come, it will be because people kept too much of their own money.

It's too bad Marx and the 'Progressives' couldn't repeal the laws of economics while they were creating their Utopia.

Your rant is cynical and I realize you despise progressives.  The purpose of our government is to reflect the will of the governed. Conservatives have done a lot to create our current dystopia of economic tyranny where 1% have will and whim over the rest of us. They abrogate our rights, violate our privacy, exploit our work ethic and goodwill, force us to live lives of uncertainty so that they may collect ever more material wealth.
The only recourse we have left is our government of the people, by the people, for the people.

[Quick Karl]

Conservatives have done a lot to create our current dystopia of economic tyranny where 1% have will and whim over the rest of us. They abrogate our rights, violate our privacy, exploit our work ethic and goodwill, force us to live lives of uncertainty so that they may collect ever more material wealth.
The only recourse we have left is our government of the people, by the people, for the people.

"Conservatives" didn't do this - lying cocksucking thieving scumbags pretending to be conservatives AND liberals did this. THAT is a point I have tried to make over and over again and again on this forum, to naught.

When you vote for a lying cocksucking thieving scumbag because he said something you supported, but he does something else once elected, and you still support him, even though it is plainly obvious he is incompetent and ruining the country, no matter what cesspool political party he crawled out of and no matter what color he is, then it is you (the collective you) that is really to blame.

Lying cocksucking thieving scumbags rely on that dynamic to keep doing what they are doing. They would prefer you (the collective you) argue over homosexual marriage than say hey wait the fuck a a minute you mother fuckers are screwing the entire PLANET.

So people that want to reach an accord with me, and share respect mutually, are going to have to get with that sentiment full time.

The bottom line is, I don't give two shits about insignificant personal/social issues because there are way the fuck bigger problems that need fixin' and they will never get fixed while people refuse to work together because one or the other believes in magic or fairly tales.

Thank you - no applause necessary.

[PB the Deplorable]

...  The purpose of our government is to reflect the will of the governed...

This is not a democracy, it is a republic.  Officials being sworn in do not pledge to reflect the will of the people, they pledge to uphold the Constitution.  The ultimate purpose of government is to keep us secure, and to uphold the rule of law, not to distribute handouts.

We have rights as individuals that are unalienable - that cannot be taken away or denied, regardless of 'the will of the governed'.  We have a national government that was created by the states - it was to have limited power only in specific areas.

Why?  Because that's what is best for everyone, regardless of temporary whims, regardless of what some politician or group of politicians dream up and try to set in motion.  Regardless of what Obama thinks, the Constitution is never up for election.

The reason we are in the economic and social messes we are in is because much damage has been done to the Constitution.  The Federal government has expanded well beyond it's original role, and the results are this huge bloated intrusive wasteful leviathan that is way out of control.  Given to us over time by the very people who think as you do, that the end justifies the means, and they know better and are somehow smarter than the founders of the country.

... Conservatives have done a lot to create our current dystopia of economic tyranny where 1% have will and whim over the rest of us...

Conservatives have done none of that.  I debunked your idea that the Conservatives are the 1% or run Wall St or the banks or the big international corporations long ago.  The Democrats are the Party of Big Government.  It is they who have set up a system where corporations need to bribe officials with campaign cash in order to be spared confiscatory tax rates and crippling regulations.  It is they who run the schools and have mis-educated too many, who've gotten too many able bodied Americans hooked on handouts, who keep racism alive, who do what they can to strangle the economy. 

[albrecht]

This is not a democracy, it is a republic.  Officials being sworn in do not pledge to reflect the will of the people, they pledge to uphold the Constitution.  The ultimate purpose of government is to keep us secure, and to uphold the rule of law, not to distribute handouts.

We have rights as individuals that are unalienable - that cannot be taken away or denied, regardless of 'the will of the governed'.  We have a national government that was created by the states - it was to have limited power only in specific areas.

Why?  Because that's what is best for everyone, regardless of temporary whims, regardless of what some politician or group of politicians dream up and try to set in motion.  Regardless of what Obama thinks, the Constitution is never up for election.

The reason we are in the economic and social messes we are in is because much damage has been done to the Constitution.  The Federal government has expanded well beyond it's original role, and the results are this huge bloated intrusive wasteful leviathan that is way out of control.  Given to us over time by the very people who think as you do, that the end justifies the means, and they know better and are somehow smarter than the founders of the country.




Conservatives have done none of that.  I debunked your idea that the Conservatives are the 1% or run Wall St or the banks or the big international corporations long ago.  The Democrats are the Party of Big Government.  It is they who have set up a system where corporations need to bribe officials with campaign cash in order to be spared confiscatory tax rates and crippling regulations.  It is they who run the schools and have mis-educated too many, who've gotten too many able bodied Americans hooked on handouts, who keep racism alive, who do what they can to strangle the economy.

This will fall on deaf ears. Not only don't most people understand the Constitution, or even the idea of a Republic and limited powers (and separation of powers) versus a "democracy"- but much of the left who do is totally against this idea because it stops "progress" towards the eventual utopia Lenin spoke about, the "fundamental transformation" Obama promised, and "change" from happening too quickly.

They equate capitalism with "too big to fail" bailouts, regulatory capture, rent-seeking, and political corruption- all of which has nothing to do with capitalism but with the corruption of it by having a Federal government with too much power. They equate honest businesses with "you didn't build that." And taxes with "redistribution" or even "retribution" for those evil people who employ people (exploit the worker and render his labor into just a unit of capital which in their twisted mind will alienate the worker and lead to the revolution.) Instead of the worker buying a better tv, improving his house, getting a better education, going on vacation with his kids, putting food on his table, starting his own business, etc.

[Quick Karl]

This is not a democracy, it is a republic.  Officials being sworn in do not pledge to reflect the will of the people, they pledge to uphold the Constitution.  The ultimate purpose of government is to keep us secure, and to uphold the rule of law, not to distribute handouts.

I wish that more people would acknowledge this fact.

If someone doesn't like that it IS a Representative Republic, they can do what they want politically to try and change it, but saying it is something it is clearly not, is disingenuous.

[DigitalPigSnuggler]

So people that want to...share respect mutually, are going to have to agree with me.

Wetting myself, I am laughing so hard. 

It's like watching the Three Stooges rolled into one personality.

[Gd5150]

If someone doesn't like that it IS a Representative Republic, they can do what they want politically to try and change it, but saying it is something it is clearly not, is disingenuous.

Unfortunately the representatives are or are controlled by the .10%ers. 1st thing that has to be done is massive term limits getting rid of career politicians at all levels. The middle class is what makes the country strong. To bring it back you need a government controlled by the middle class. Seems impossible these days.

Some kind of law regulating how much the top people can make in relation to entry level employees needs to be written. A CEO cannot exists without 100s-1000s of employees. No one person is worth 7 8 9 figures. They can only work 80-100hrs a week max, and those CEOs don't.

Boards of directors move companies that were established before they were even born overseas. Can 1000's of middle class employees, and then give themselves 9 figure bonuses for doing nothing.

1 person making 10 million only eats 3 meals a day. Only buys 3-5 cars. Maybe 2-3 houses. Takes 3-5 vacations a year. Take that same 10 million and pay 100 people 100k and they buy 100 houses, buy 200-300 cars. Eat 300 meals per day, take 1000 vacations per year and so on. The myth that ultra wealthy funnel money back into the economy in the same way is a myth. They dump it into the stock market and other tax sheltered investments. And thus you have an economy that benefits a few, and a stock market that booms, just like now.

Republican and Democrat representatives have let this happen. They are generating huge amounts of wealth for themselves so they aren't going to change a thing.

[albrecht]

1 person making 10 million only eats 3 meals a day. Only buys 3-5 cars. Maybe 2-3 houses. Takes 3-5 vacations a year. Take that same 10 million and pay 100 people 100k and they buy 100 houses, buy 200-300 cars. Eat 300 meals per day, take 1000 vacations per year and so on. The myth that ultra wealthy funnel money back into the economy in the same way is a myth. They dump it into the stock market and other tax sheltered investments. And thus you have an economy that benefits a few, and a stock market that booms, just like now.

The place the real "trickle down" works very effectively is when a non middle-class or rich person gains vast wealth quickly: Hollywood, Lotto winners, Athletes, etc. And drug-addled heirs. The real rich quickly ensconce their wealth in Foundations, safe diversified investments, off-shore tax shelters (though it is getting harder and harder to do), etc. And try to protect it from drug or alcohol addled ne'er-do-well heirs with Trust Funds, etc.

But you would be surprised how quickly how many Hollywood types, super-star athletes, and lotto winners end up in bankruptcy court. All their wealth "trickled down" to car dealerships, entourages, waitresses, ex-wives, drug dealers, stupid real estate transactions (buying mansions, islands, or even castles without thinking of taxes, maintenance, etc costs), partying at the club, etc. Multi-millions can be gone through amazingly quickly.

[paladin1991]

Our debt keeps growing because we don't collect the taxes we should. North Carolina just lost Toyota moving one of their assembly plants to the state. North Carolina offered more than 50 million in tax breaks... and it wasn't incentive enough... WTF is wrong with elected officials? No one should be giving companies that kind of break.

Too fucking right.  They are more than willing to tax the shit out of the populace and then loan out that cash as incentives or, with Washington magic, pay companies in the form of tax breaks (our taxes!) to move here or there.

[paladin1991]

"Conservatives" didn't do this - lying cocksucking thieving scumbags pretending to be conservatives AND liberals did this.

Oh, for a sec I was confused.  You almost lost me using all those adjectives describing politicians

[paladin1991]

I wish that more people would acknowledge this fact.

If someone doesn't like that it IS a Representative Republic, they can do what they want politically to try and change it, but saying it is something it is clearly not, is disingenuous.

And dangerous.  Too many fucking idiots too lazy to bother understanding the difference.  But more than willing to regurgitate what they heard as their 'own' belief. 

[Quick Karl]

Unfortunately the representatives are or are controlled by the .10%ers. 1st thing that has to be done is massive term limits getting rid of career politicians at all levels. The middle class is what makes the country strong. To bring it back you need a government controlled by the middle class. Seems impossible these days.

Some kind of law regulating how much the top people can make in relation to entry level employees needs to be written. A CEO cannot exists without 100s-1000s of employees. No one person is worth 7 8 9 figures. They can only work 80-100hrs a week max, and those CEOs don't.

Boards of directors move companies that were established before they were even born overseas. Can 1000's of middle class employees, and then give themselves 9 figure bonuses for doing nothing.

1 person making 10 million only eats 3 meals a day. Only buys 3-5 cars. Maybe 2-3 houses. Takes 3-5 vacations a year. Take that same 10 million and pay 100 people 100k and they buy 100 houses, buy 200-300 cars. Eat 300 meals per day, take 1000 vacations per year and so on. The myth that ultra wealthy funnel money back into the economy in the same way is a myth. They dump it into the stock market and other tax sheltered investments. And thus you have an economy that benefits a few, and a stock market that booms, just like now.

Republican and Democrat representatives have let this happen. They are generating huge amounts of wealth for themselves so they aren't going to change a thing.

In the end, we (the collective we) ARE directly to blame for what the .10% and their lackeys in the White House and Congress ARE doing to US. When we (the collective we) let personal whims prevent us from aligning with other legitimate American Citizens in the interest of ridding Washington of scum, we (the collective we) deserve what they do to us and the rest of the world.

[Quick Karl]

Too fucking right.  They are more than willing to tax the shit out of the populace and then loan out that cash as incentives or, with Washington magic, pay companies in the form of tax breaks (our taxes!) to move here or there.

Q. Who is to blame for this?

A. Scumbags from Harvard and Yale and the fools that keep reelecting them and their cronies.

If you want a fair government and a fair business climate - you first HAVE to educate yourself on what Free Market Capitalism was actually supposed to be, and fully comprehend what The Founder's thought your role as a citizen really was supposed to be. If you did that, you might be surprised by what they really thought and wrote, but you will NEVER learn it in any University, simply because they do not teach it anymore.

The Creation of the American Republic by Gordon S. Wood. http://www.amazon.com/The-Creation-American-Republic-1776-1787/dp/0807847232/ref=sr_1_1?ie=UTF8&qid=1409795681&sr=8-1&keywords=the+creation+of+the+american+republic

"One of the half dozen most important books ever written about the American Revolution."--New York Times Book Review