Followed by 1
Ignored by 2
In United States
Registered Mar 08, 2011
EconPete's most recent comments:
- On 29 Oct 2012
Baby boomers will be poorer than their renting children when housing deflates!,
Another take on the paper by Dean Baker and David Rosnick can be found in this article.
There’s a nice quote from Peter Schiff on the bottom.
- On 1 Aug 2012
Why not reduce the cost of living?,
The answer to your question: http://patrick.net/forum/?p=1213971
What you are describing is free market capitalism. The U.S. is far from it. The list of above high cost, low performing industries are all government protected from competition. Health care is probably the worst example of socialization in the US and the government wants to add to it. Industry inflation is synonymous with socialism and communism. The deflation you are describing is synonymous with free market capitalism. Yes, the goal is to try to restrict well connected industries and individuals from benefiting from our tax base.... Good luck, the people who make government decisions are the people who get to spend our tax money. Does anyone think they will ever decide to reduce the power and control their positions have? I didn’t think so.
Until then, the 99% will just have to keep accepting a declining share of GDP all while assuming more of the hardships.
- On 31 Jul 2012
We have an incentive to steal resources from future generations!,
The first thing people have to learn is that energy cannot be "invented". It just IS. That statement is called the principle of conservation of energy, and is THE most fundamental law of physics. You need to consult with PhysicsPete instead of EconPete.
I was obviously referring to inventions that allow for more efficient energy extraction from a set amount of resources or potential resources that have not been discovered or discovered how to utilize yet.