|Last Updated: Mar 25th, 2013 - 16:46:15
Thought for the Day
So, we are proud that our unemployment statistics show that our unemployment rate has come down to only 3.9%! Helen talks about this on TV and worries that it might go up again past 4%.
I have become, of late, very suspicious of government statistics and information. I suspect that it is more propaganda than helpful data for serious consideration so I asked the Statistics Department a serious question:
"Your definition of unemployed people is given as:
"Unemployed: All persons in the working-age population who during the reference week were without a paid job, available for work and had either actively sought work in the past four weeks ending with the reference week, or had a new job to start within the next four weeks.""
"Does this mean that if a person was in the working age population during the reference week, was without a paid job and did not have a new job to start within the next four weeks AND who had not actively sought work in the past four weeks that person would not be considered unemployed?"
Yes, was the answer I received.
So if any young slacker couldn't be bothered seeking work last month this defined him as "not unemployed"!
My supplementary question was:
"To what group would he be assigned?"
And the answer came back:
"S/he would be counted in two ways.
- Jobless available for work but not actively seeking (published in tables of Jobless);
- Not in labour force (published in any overall summary of labour force status).
*** *** *** ***
And of course if you had accidentally worked for one hour during the previous four weeks you would not be unemployed either. You would be employed!
So now you know. It is quite hard to get into the unemployed category.
I no longer know what our unemployment statistics mean. I cannot tell how we compare with other countries. These government statistics are more propaganda than information.
Why should we pay taxes for the current rubbish posing as unemployment figures? Normally, people would only pay for useful information.
We should privatise the Statistics Department and only pay if the results are meaningful.
Nov 6, 2008, 11:00
Big Interest Rate Cuts In Britain And Europe
The Bank of England drops interest rates by 1.5% according to this Reuters report. Some analysts expect more cuts to come.
Is panic setting in?
Nov 7, 2008, 09:11
Playing The Tax Credit Card
I greatly admire what Obama has done but that doesn't mean that I agree with his understanding of economics.
When Michael Cullen became Minister of Finance he raised the tax for earnings over $60,000. The politics of envy of "Rich Pricks".
As a result, according to IRD figures, a large number of people began earning exactly $60,000 and not a penny more! This result was of course entirely predictable.
Obama has similar ideas (and similar to our Welfare for Families idea) for the American people. It is clear that debt has a long way to go in the USA and the results will be as sad as they are predictable.
America will lose its right to the dollar being the Reserve Currency For the World - China will take over.
Should be interesting.
Nov 6, 2008, 17:53
An Interview With Ron Paul
Representative Ron Paul has been shaking up the political arena in America since 1976, when he first ran for Congress as a proponent of free market economics and started railing against the Federal Reserve system. In 2007, Dr. Paul turned heads once again with his grassroots presidential campaign by breaking two fund-raising records: one for the largest single-day donation total among Republican candidates, and twice receiving the most money received via the Internet in a single day by any presidential candidate in history.
This interview is available by clicking the heading to this article.
Here is a short extract of the interview with Dr. Paul:
Ron Paul: "Well, the worst thing is that the dollar’s value is being eroded systematically every day, and that is since 1913. Since we’ve had the Federal Reserve, we have lost about 96 percent of the value of the dollar. If we don’t course-correct, we’re going to have a crash in the remaining value of the dollar, and you could lose it quickly. When a currency gets up to end stages, it goes quickly. A lot of people remember what happened in Germany when the German mark lost all its value. When that happens, there’s runaway inflation, no controls, and economic breakdown. This usually invites a dictator – that’s what helped usher Hitler into power. So many countries have bitten the dust through inflation, even in ancient times. They didn’t have printing presses, but they would dilute the metal or clip the coins and deceive and steal from the people – things the government shouldn’t be doing."
Paper money has a lot to answer for!
Nov 6, 2008, 10:31
The World Tires Of Dollar Hegemony
The Central Bankers are looking for a better system - because they blame the US for their current predicament.
They will not bring back a sound money system using REAL Money - gold and silver. That would not suit.
What can they possibly do?
Nov 5, 2008, 10:46
More Signs Of A Silver Shortage
The advantage of understanding REAL Economics as opposed to ordinary economics is that it is possible to make predictions of major dislocations in markets. We do not follow the "smooth" curves and fancy maths of the computer models that merely predict more of the same all the time. We understand human nature and how this manifests itself in the market place.
Booms and Busts with the associated manias are not mere aberrations but the logical consequences of our system of paper money. This paper money system benefits bankers, who get cheap money to lend, Politicians, who can promise anything and still pay for it later, and also ordinary economists who are employed by bankers and governments (90% of them??).
They are not going to change the system but unfortunately for all of us this paper money system does have consequences. The boom inevitably turns to bust.
We are currently living in a recession which will be the longest one in most people's life time. The ordinary solution is to supply trillions more dollars in paper money. If this tactic wins the fight this time there will be big inflation to follow this current deflation. While they fight it out they may produce stagflation; Asset deflation and money inflation!
Meanwhile the powers that be continue to depress the price of gold and silver. And as we have seen in so many places when a government institutes price controls they get a shortage of what is controlled.
The amount of silver above ground is only 20% of the quantity of gold available above ground. Silver is five times more rare than gold!
It is becoming more and more difficult to get silver and industries that need it for their manufacturing plants will soon start to get into trouble. They can't close! So the bidding war for silver will start. Already there are a large number of investors who see this situation developing and who are taking delivery of large amounts of silver. Silver mines are closing! The price is too low and they are uneconomic.
The stage is set for a new boom in silver and the silver rush will turn into a new mania as punters discover this new way to spend all the paper dollars they are accumulating.
What a merry time we shall all have!
[ Visit Website ]
Nov 5, 2008, 10:18
The Fed As Central Bank To The World
The Central Bank of America - the "Fed" - is playing Central Bank to other Central Banks. The Europeans want a new financial order with them having more say but what sort of order can this be that would prove to be better than the "almighty" dollar?
All the currencies are diminishing except the Chinese yuan and the Japanese yen. China, with 1,300,000,000 people, is becoming the economic powerhouse of the world. When the US dollar fails will the Chinese take over financial control?
A new empire is arising!
Nov 4, 2008, 12:06
No Soothing Salve For Economic Ills
All fiat currency is essentially worthless. Why then, are some people touting the idea that gold – tangible money – is too volatile to back this cash? Apparently flooding the markets with more worthless paper is a better solution. The Mighty Mogambo expounds...
Nov 4, 2008, 10:13
Quote for the Week
Subject: On Politics - I'm Glad The Elections are Almost Over
“If you don’t read the newspaper you are uninformed, if you do read the newspaper you are misinformed.”
- Mark Twain
Suppose you were an idiot.
And suppose you were a member of Congress....
But then I repeat myself.
I contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.
A government which robs Peter to pay Paul can always depend on the support of Paul.
- George Bernard Shaw
A liberal is someone who feels a great debt to his fellow man, which debt he proposes to pay off with your money.
-G Gordon Liddy
Democracy must be something more than two wolves and a sheep voting on what to have for dinner.
-James Bovard, Civil Libertarian (1994)
Foreign aid might be defined as a transfer of money from poor people in rich countries to rich people in poor countries.
-Douglas Casey, Classmate of Bill Clinton at Georgetown University
Giving money and power to government is like giving whiskey and car keys to teenage boys.
-P.J. O’Rourke, Civil Libertarian
Government is the great fiction, through which everybody endeavours to live at the expense of everybody else.
-Frederic Bastiat, French Economist (1801-1850)
Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.
-Ronald Reagan (1986)
I don’t make jokes I just watch the government
and report the facts.
If you think health care is expensive now,
wait until you see what it costs when it’s free!
In general, the art of government consists of taking as much money as possible from one party of the citizens to give to the other.
Just because you do not take an interest in politics doesn’t mean politics won’t take an interest in you!
-Pericles (430 B.C.)
No man’s life, liberty, or property is safe while the legislature is in session.
-Mark Twain (1866 )
Talk is cheap...except when Congress does it.
The government is like a baby’s alimentary canal, with a happy appetite at one end and no responsibility at the other.
The inherent vice of capitalism is the unequal sharing of the blessings. The inherent blessing of socialism is the equal sharing of misery.
The only difference between a tax man and a taxidermist is that the taxidermist leaves the skin.
The ultimate result of shielding men from the effects of folly is to fill the world with fools.
-Herbert Spencer, English Philosopher (1820-1903)
There is no distinctly Native American criminal class...save Congress.
What this country needs are more unemployed politicians.
-Edward Langley, Artist (1928 - 1995)
A government big enough to give you everything you want, is strong enough to take everything you have.
Jul 6, 2008, 11:42