Posts Tagged With: economics

GENETIC PREDISPOSITIONS: PART II

When I was young, (yes, electricity had already been discovered and was in general use) there was term often used by newspapers and other media to disparage or otherwise shame certain members of society. That term was “being on the dole” and it came to signify those unfortunates that were having a tough time financially and required governmental assistance to get thru the transactions of day-to-day living. That phrase originated in England in 1917 and was in reference to benefits being “doled” out by the government to generally poor souls that couldn’t otherwise provide for themselves. Since the U.S. at the time, had a hard-core, laissez-faire, capitalistic type of thinking ingrained into most people’s psyches, having to receive government assistance was considered especially shameful. The mark of a slacker, one too lazy or otherwise too indolent to provide for themselves. Indeed, according to newspapers that were published in those days, no criminal’s deeds were as heinous as that of someone “being on the dole.”

With the advent of FDR’s New Deal, however, the use of that term began to lose it’s luster. It turned out that with the creation of Social Security and Medicare legislation, virtually all seniors were eventually “on the dole,” so to speak. More social programs regarding veterans benefits, student loans, housing and other government assistance came into being, so it seemed almost everyone “was on the dole” at some point in their lives, and that inglorious phrase was eventually tossed into the dustbin of history. It was to some degree revived in a new form during the Ronald Reagan administration in the 1980s. The term “welfare queens” suddenly came into existence as racist code to denote single black mothers who were supposedly having babies out of wedlock in order to receive larger government welfare checks. When it was pointed out that the preponderance of welfare payments were being made to white people, that derogatory phrase also faded from the public forum. But the on-going efforts of the fortunate to stigmatize the unfortunate in some shape or manner continues on unabated.

This is kind of a long way around to come to the main point of how genetics is often the determining factor in the way our lives will unfold and the destinies in store for all of us. Some time back I wrote a piece called “Genetic Predispositions” which still receives “views” years later, and I thought I would update the original with additional insights. In the original, I cited some extreme examples of how one’s genes are often the determining factor of the life being led. How, due to genetic malfunction, some fetus brains are bathed in an overdose of serotonin while in the womb. Hence, when these individuals grow into adulthood, they cannot derive pleasure or comfort from those activities that normally satisfy most of us, and thus, are often likely to turn out to be brutish rapists or serial killers to satisfy their lusts. Even when the brain develops normally, genetic make-up is usually the name of the game.

Those whose DNA is formed with a talent for fiscal matters often do the best in our capitalistic society. Bankers, Wall Street brokers, hedge fund managers, entrepreneurs etc. often accomplish the most financially, and are able to lead the most luxurious materialistic lives. Not that such bountiful materialism necessarily translates into lifelong happiness and serenity. Just ask those who knew Elvis Presley, Marilyn Monroe, Michael Jackson or Whitney Houston for starters. All four of whom had not only acquired immense riches, but, also millions of adoring fans and worldwide fame; but still managed to kill themselves at a fairly young age. On the the other hand, those whose DNA thrusts them into the artistic side of human performance usually receive the short end of the stick from a capitalistic oriented society. Very few writers, artists, musicians, etc. receive just compensation for their efforts and often live in poverty throughout their lives. This could also result in early demise. Think Vincent Van Gogh or Edgar Allen Poe, neither of whom caught a break as far as public recognition of their talents while they were still alive, and who also died at an early age

Most of the rest of us are somewhere in the middle, living anywhere from relatively lower middle class, to reasonably comfortable lifestyles, depending on the talent programmed into our DNA. But what I didn’t mention last time are the environmental factors that one grows up with, that also have a huge influence on our future lives, and must be considered along with genes as one of life’s determining forces. An Irish poet put it best when he wrote that “They fuck you up your Mum and Dad; they fuck you up real good.” Those coming from abusive or dysfunctional homes where parents might be alcoholics, druggies, or child molesters, hardly have a chance in life, no matter how strong their genes may be. Some hearty, brave souls do manage to escape an horrendous upbringing, however, and go on to thrive in life.

It the end it virtually all comes down to a matter of genetic inheritance and environmental upbringing. I think, though, that genes are more of the determinant factor. As for me, at this stage of my life, I’m quite content to be “on the dole” and receive my government benefits.

Categories: A malfunctioning psche, Economics, Health Care, Obamacare, human affairs, politics, Ronald Reagan, the Depression | Tags: , , , , , , , , , , , , , , , , | Leave a comment

THE UN-TRUMP

As the Trump Administration lurches from one pending disaster to the next, the latest being the ill-conceived firing of FBI Director James Comey, one would think that the Democrats would have at least several young, ambitious, potential candidates to challenge The Donald in the next scheduled mud-wrestling challenge. Sadly, the Democrats appear to be too demoralized and apathetic to even enter the arena. They’re truly in a state of shambles. There seems to be no Young Lochinvar to ride in from the west on his trusty steed to save the country from the machinations of a demagogic president and his henchmen. But if there were such a bold, brazen Democratic senator for example, he or she might want to pursue the following path to a likely victory come the next election. He or she could start out by visiting college campuses and deliver the following speech.

“Good evening fellow students of LSU. I say fellow students because I am an alumni of this fine institution, being an under-graduate not that many years ago. Let me start off by saying that I am the Un-Trump. I live in a state of reality and sanity, rather than in a parallel universe of delusional paranoia. I don’t indulge in pathological narcissism, and I don’t try to cover-up wrong-doings that might of occurred on my watch with serial mendacity. I don’t indulge, every other day, in Twitter tirades against perceived critics or enemies, with all the fervor of an adolescent teen-ager whose ego has been absurdly bruised. I would not continue on the campaign trail long after the election is over, in a pathetic attempt to boost my sagging poll numbers. I would not enlist the help of Russia or any other country to hack my opponents computers or otherwise spread false news to assist my election effort. I would not attempt to bar peaceful citizens of any country, or nationality or religion from entering the U.S. for legitimate reasons. And if I am elected your president, I would not have members of the Alt-Right white supremacist movement as my closest advisors in the White House. To the contrary, I would employ the strongest of civil rights advocates. As I’ve said, I am The Un-Trump.

“And one other matter above all else. I surely would never build that hideous 2000 mile monstrosity on the Mexican border that will become known as the Trump Wall, if it does become a reality. Erecting such a barrier would not only be the biggest boondoggle in U.S. history, costing tens of billions of dollars in taxpayer money, its effectiveness in keeping out criminals or terrorists would range between negligible to non-existent. And that’s one of the reasons I’m appearing before you tonight. I need your help in assuring that the Trump Wall never becomes a reality. If, in fact, it appears that construction is about to begin on this fiasco, who among you will join me at the Mexican border to stand in the way of the tractors and earth-movers. In civil protest and disobedience, Ghandi-style. If a few thousand of us come down to the border and stand in the way of construction crews, this wall will not be built. Perhaps, if as many as 10 or 20 or 50 or even 100 thousand people show up to block construction, this hideous wall will never see the light of day. They couldn’t possibly lock up that many protesters. But remember, this would be an act of civil disobedience, with emphasis on “civil.” There can be absolutely no violence on our part, which would only serve to discredit such a protest. It must be 100% civil, the way Ghandi employed such tactics to free India from British colonial rule.

“In coming weeks I plan to visit more college campuses and other venues to elicit as much support as I can to block this impending insanity. So I ask, one more time, who will join with me in this act of conscience. Let me see a show of hands. Ahh, good. I see most of you are willing to support me in this crusade. It bodes well for the resistance. If it keeps growing, we can end all this craziness within a few short years. Remember, above all else- I am the Un-Trump.”

Alas, it appears, however, that there is no such young Democrat on the horizon that has that kind of energy and inventiveness. You might say Bernie Sanders; but he would be about 78 come next election, which really is too old. Elizabeth Warren is a possibility, but she’s not exactly a spring chicken herself. Lacking a Young Lochinvar, all you young people are faced with the bleak likelihood of enduring the Trump insanity for 8 long years.

One other thing. The crude vulgarity that Trump employed to fire James Comey was beyond comprehension, even for Trump. Comey had to learn about being dumped from a third party source as he was about to give a speech. It was obviously in retribution for the ongoing FBI investigation into the Trump team’s collusion with Russia to alter the final election results. The unceremonious firing was ironic also, since it was Comey that handed Trump the election victory on a silver platter. It was Comey, who 12 days before the election, stated that the FBI was re-opening it’s investigation into Hillary Clinton’s emails processed on a private server in Clinton’s basement. If Comey had kept his mouth shut, Hillary would now be sitting in the Oval Office. And for that, the thanks that Comey received from the president this past week was to be sacked as if he was the janitor in the J. Edgar Hoover building in Washington D.C.

Categories: A malfunctioning psche, Brexit, Donald Trump, Alan Greenspan, Donald Trump, Hillary Clinton, Bernie Sanders, Ted Cruz, John Kasich, presidential polls,, Economics, Health Care, Obamacare, human affairs, Israeli-Palestinan Relations, Joe McCarthy, McCarthyism, World War II, Viet-Nam, Anti-Communist Witch Hunts, Army-McCarthy hearings, Islamic Jihadist terrorism, Soviet Union, Red China, politics | Tags: , , , , , , , , , | Leave a comment

THE ACCIDENTAL PRESIDENT

It’s late 2015 and Donald Trump is having a small gathering at his penthouse at Trump Towers in Manhattan. His family is there including his children and grandchildren, as well as some friends and associates his known over the years. The conversation invariably begins to dwell on politics and how the upcoming 2016 primaries are starting earlier and earlier. Suddenly, Donnie Jr. loudly comments that- “You know, Dad, you could take another run at it. It’s not too late to get your name on the ballot for the Iowa caucuses.” “Right,” replies Trump. “Because it worked out so well for me in 2012.” But Donnie Jr. is persistent. “The only reason that went bust was because you let Corey talk into running as a “birther.” (He’s referring to Corey Lewandowski, Trump’s campaign manager in 2012, and the first half of the 2016 campaign.) “That was a losing issue from the beginning. There just wasn’t enough true believers in the Republican base to convince that Obama was secretly born in Kenya. Besides this time, you would be running against Hillary, a much weaker candidate than Obama ever was.”

“This time you can focus on the stuff that has the Republican base all in tizzy,” continues  Donnie Jr. “Like all the Mexican illegals pouring over the border. Most Republicans really hate that. And ISIS terrorism and the flood of Moslems coming into this country as well as Europe are certainly issues to rile people up. Look at the recent attacks in Europe and California. Both of these areas could give you plenty of traction in the primaries.” “I don’t know Dad,” injects Ivanka, speaking for the first time. “Aren’t there like 20 guys running for the nomination. How are you going to stand out from the rest.” “By being different than rest, and politically incorrrect” declares Steve Bannon,” a close associate of Trump over the years, and head of the Alt-Right propaganda outlet called Breitbart News.  “I mean, look who he would be running against. Jeb Bush? Give me a break. Not only has his time come and gone maybe a dozen years ago, but I don’t believe the country is ready for still another Bush in the White House. Ted Cruz? Outside of Texas, his drawing power is diddly-squat. Rubio? Too young and inexperienced. The rest are just political pigmies.”

Trump turned to Melania seated next to him, and said- “You know, the kids pretty much run the business on a day-to-day basis as it is. It’s not like I don’t have the time.” “But you would be out campaigning for about the next year,” she protested. “I’d still make time to come home to you, every now and then,” Trump replied. Melania did not look pleased, but said nothing. Turning to everyone else Trump declared that- “If I did do this, I’m not going to spend a lot of my own money, I’ll tell you that. It will be a like a take it or leave proposition. This is who I am, take it or leave it.” And the rest, as the cliche goes, is history.

Trump entered the Republican primaries with 16 other potential candidates. His ratings alongside the others stood at about 5%. That’s when he decided to be as politically incorrect as possible, as Steve Bannon had advised. He denigrated Senator John McCain’s service to his country when he was captured and held prisoner by the Viet-Cong in the hellish “Hanoi Hilton” for 6 long years. Trump stated that he- “liked people that weren’t captured.” (I’m still trying to figure out in what universe that’s a coherent statement.) When Megyn Kelly, Fox News host, was critical of him during a debate, Trump stated that “she had blood coming out of her whatever.” He said that Mexico was deliberately sending us “their rapists and murderers,” and promised to build a 2000 mile long wall to keep them out. He said he would bar Moslems from entering the country, and would “bomb the shit out of ISIS.” (I’m still waiting on some action concerning that last promise.) But the more outlandish the Trump remarks were, the more his poll numbers shot up. From 5% to about the 35-40% range.

Because Trump’s comments were considered so utterly vile, NBC fired him from their “Celebrity Apprentice” show. Macy’s fired him from being one of their spokespersons. But a large chunk of the Republican base really liked what they heard. Every white supremacist organization from the KKK on down considered Trump “their kind of guy.” The “Bikers of America” flocked to the Cleveland Convention Center to provide the necessary protection and muscle to assure that for the first time in their lives, they would have a kindred spirit occupying the White House. To this day, the large and growing white supremacy movement in the U.S. maintains nothing but adoration for Trump and his cohorts.

Despite his demagogic appeal to white racists and bigots, Trump still would have lost the election had his campaign not suppressed the voter turnout amongst blacks, Latinos and other minorities that normally vote Democratic. As I’ve said many times, elections are often decided more by the people who stay home and fail to vote, then by the numbers that do cast a ballot. The Trump campaign cast Hillary in such a derogatory light, that many voters that would have normally turned out for her were too discouraged to make the effort. Also, of course, if we didn’t have this unfathomable electoral college system, Hillary would be occupying the Oval Office today.

I wrote last time about the upcoming French presidential election (this Sunday), where the female version of Donald Trump is trying to use the same tactics of voter suppression on her opponents base. Marine Le Pen, the candidate of the far right, who hopes to become the new French president, is telling her opponent’s base voters that it’s not worth their effort to come out and cast a ballot on Sunday.  It would be much more pleasant for them to take a liesurly stroll in the park. Interesting to see if that tactic will work a second time.

Categories: A malfunctioning psche, Brexit, Donald Trump, Alan Greenspan, Donald Trump, Hillary Clinton, Bernie Sanders, Ted Cruz, John Kasich, presidential polls,, Economics, Health Care, Obamacare, human affairs, politics, Uncategorized | Tags: , , , , , , , , , , , , , , | Leave a comment

DEPRESSION AT ITS ROOTS

I thought that, for a change of pace, we would discuss a really fun topic like depression. No not the mental breakdown type, but the fiscal meltdown type instead. Although if you have a financial breakdown, it’s sure to cause a plethora of the mental type, so maybe we’ll wind up talking about both. They say that money can’t buy happiness, but tell that to the homeless guy sleeping in a cardboard box in a back alley or under a bridge somewhere. Or to the recent winners of the mega-millions jackpot as they were popping the champagne corks. It’s hard to imagine any individual or family where money doesn’t play a central role.

Throughout American history there’s been at least a dozen major depressions, or panics as they were sometimes called, starting as early as 1807. There was also a few milder recessions thrown in for good luck. (Ronald Reagan used to say that a recession is when your neighbor loses his job, and a depression is when you are thrown out of work. Not a bad definition.) But the depression I would like to focus on is the one back in the thirties. Not the 1930s, but the 1830s, or 1837 to be exact. It’s hard to believe they could have a depression back then when the entire U.S. population was only about 17 million. But not only did they have a depression, it was just as severe and destructive to people’s lives as the 1930s joyride. Those that are such strong advocates of capitalism somehow never get around to talking about capitalism’s failures, and how numerous they have been.

The U.S. government in 1837 was a modern day tea party’s dream come true in that it hardly did anything and hardly spent any money. It had a small Army and a few ships they called a Navy, a State Department that conducted a limited amount of foreign affairs, a small Attorney General’s office, and perhaps something that looked like an agriculture department to help out farmers. Even then people recognized that food was too important to deny at least some government involvement to help offset  the hardships that droughts or flooding rains may have caused farmers. But outside of these limited functions there was little government activity. Revenues came primarily from tariffs on imported goods, so tax rates on rich or poor was a non-factor.

In November of 1836, the only man in U.S. history to be elected from the House of Representatives directly to the White House, Martin Van Buren, became president in the following year, succeeding the the 8 year presidency of Andrew Jackson. Economic times were good at the start of the Van Buren presidency, as land values started to sky rocket in value because of increasing numbers of people pushing west. One might say there was a growing real-estate bubble, not unlike the one that has led to our current economic down-turn. Banks were eagerly encouraging people to borrow money and invest in real estate to keep land values rising.  Sound familiar? However, with all the cheap money flooding the market, inflation started to soar, and the government, in its infinite wisdom, declared that outstanding debt would have to be repaid in gold or silver, which made all the paper money on the market almost valueless. Instantly, there was widespread panic, as people rushed to their banks to withdraw their life’s savings while they could. Almost overnight, 40% of the banks in the U.S. had to close their shutters, since they were unable to meet their financial obligations. Financial destruction and ruin ensued on a massive scale in most people’s lives, from which  they would never recover.

Since governments in those days didn’t do much of anything outside of defense and foreign affairs, Van Buren was clueless as to what remedial actions the government might take to alleviate the hard financial times. So in the end he did nothing, and the unrelenting depression dragged on for 6  years until finally the economy started to improve in 1843. The depression caused Van Buren to lose his re-election bid in 1840, and he probably went to his grave insisting it was not government’s role to bail out the economy. Sort of like today’s far right, who are still monumentally upset that the current administration bailed out General Motors and Chrysler in their time of need,  instead of letting them go out of business, with a few hundred thousand more jobs going down the drain.

What is the relevance of the 1837 depression to our current world affairs? It’s not that capitalism is bad. Indeed, it’s probably the only real workable economic system at this stage of man’s evolutionary development. Even Communist China recognized that when they went to a market economy. But capitalism does have some deep fault lines that are ripe for exploitation by the unscrupulous. For example, when my wife and I bought our first house, people acquired real estate primarily for living purposes. We were required to put 20% of the purchase as a down payment. But early in the 21st century the fast-buck artists felt there was a quick killing to be made by constantly inflating real-estate values through convincing potential home-buyers to secure mortgages they could ill-afford with virtually no down payment. Real-estate prices could only go up, they told dubious buyers, before the crash came and all the foreclosures with it. And all the people now sitting in their homes with mortgages that are under-water. The 1930s depression was caused by the same-type of fast-buck artists that were exploiting the stock market, causing ever-increasing and unsustainable stock prices until the crash came.

So in the end it doesn’t matter whether it’s capitalism or socialism, or any other ism. What matters is the honesty and integrity of the people participating in what ever system is put in place. What’s important is to have the safeguards necessary to prevent the dishonest, the unscrupulous, and the out-and-out scammers from perverting whatever the chosen system of economics is. One final note. Mitt Romney has secured the GOP nomination, but during the primaries he referred to himself as a “severe conservative.” I wonder if that’s like a severe depression. Maybe it’s just a severe mental breakdown.

 

 

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