Mosler to speak in Summit NJ 3pm Friday July 3
Posted by WARREN MOSLER on July 2nd, 2009
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July 2nd, 2009 at 11:01 am
Awesome! Except I pay 30% in Taxes and so do most of the people I have spoke with?
Maybe I need a new accountant?
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July 2nd, 2009 at 12:10 pm
Just talked to local bank manager at bofa as I was concerned that they weren’t making enough money after they sent a letter asking me to start paying fees on one of my accounts.
He says this quarter was very profitable….so they didn’t really need the new fees.
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July 2nd, 2009 at 1:46 pm
Warren,
Excellent! Populist. Right on time.
I think your message will really strike a chord with the crowd if you are speaking at a “Tea Party” type of rally.
Just make sure Summitt, NJ isnt within a short march to NYC as after your done with this speech, that crowd may just grab the shovels and pichforks and head for lower Manhattan!
Resp,
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July 2nd, 2009 at 5:41 pm
*Where* in Summit? (The title is self-linking.)
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July 2nd, 2009 at 10:04 pm
Warren, I think the chinese won’t like it if you stop collecting payroll taxes. The chinese own assets that get paid by taxes, ultimately it lets them get oil instead of us by reducing our aggregate demand, why would they want us to get oil and not them?
To your second proposal of giving money to states on a per capita basis, I don’t like this idea, because states that let lots of mexican thug drug dealers illegally immigrate can get more money than states that enforced legal immigration.
As for keeping the crooked doctors working, already they have too many porsches and mt900’s to drive to the golf course when they aren’t cruising in the harbor on thier super yacht. As to keeping the police working, I get tired of seeing them write 200 dollar tickets and tasing grandmothers who went a little fast down the highway inbetween dunkin donuts.
As to the schools staying open, I am tired of seeing useless princesses use the school as party central to drink thier issues away while mommy sends the kids there for adult daycare.
As to your whole meme of letting the states DECIDE what to do with the money - LOL! I have never met a powermonger who wanted less power, the national government wants MORE power, not less. You have seen some banks and some state governers refuse the aid of the national government because they are aware that the devil you know maybe is better than the devil you don’t know and all those national government strings that come attached are hard to cut.
Then you go on to say they can vote in new people if the citizens don’t like how the money is wasted, that is a flat lie. Arnold Kling and many others have said for years now that our whole voting system is totally broken and not serving public purpose, for one there are too few representatives and too many lobbyists and concentrated power in too few hands.
Then you talk about the banks making too much money with rates going from 5% to 0%, well since I know you CARE so much about the people and you have a bank of your own, can I come to your bank and get a 5% CD? Will you loan me money at 3%? Don’t be a hypocrite Warren.
Then you talk about China labor prices, I think Obama wants china labor prices to go up so aggregate global demand for china labor will go down, and maybe some of it will go to America which will give us some jobs. Your way would just send more jobs to china keeping thier labor prices low.
Then you go into contradictions about us wanting a weak dollar but telling china not to sell treasuries, this is where monetary tunnel vision complicates the world and I can clarify for you and all the confused sheeple. Many people want to work, if the government doesn’t give them jobs, they will try and vote out the government - this probably applies to younger working families. Many people also don’t want to work and want China to make everything for us while we live la vida loca off thier labor - this probably applies to older retired americans and useless shopping machines, and our government is also trying to appease these voters as well. So when you give your talk friday, you better do a quick demographic survey, and if you are talking to working folk or folks that like to party and not work, you better adjust your speech.
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July 3rd, 2009 at 1:00 am
Warren, is this presentation open to the general public? Where is it?
In the twelve hours since I’ve begun reading your publications, I have also begun learning about how little I understand the nature of governmental and societal assets and liabilities.
Bruce
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July 5th, 2009 at 9:21 am
Went very well. Good q and a followed.
Hope to have full video to post.
First 4 min on youtube under mosler economics
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July 5th, 2009 at 9:32 am
Warren, I just got through doing some business with some florida bankers. Although I don’t think they are making many ninja loans anymore (no income, no job, no assets) I still feel they are really offering loans beyond the long term ability of some borrowers to repay. Then I read about the government offering 120% loan to value through fannie and such and it really confuses me. Why is all this bearaucracy and red tape to play these silly games beneficial? Why not just let the market price these things and offer suitable loans and not take the japanese path of slow deflation and much long slow gnashing of teeth? Also you constantly advocate using taxes to limit aggregate demand, that seems like such a blunt tool. If we had good loan officers making good loans, that would be a much more focused tool to achieve demand management than a blunt tax no? Local loan officers should be much better at determining a local citizens ability to repay - like you did once with an old woman with a lawn mower. Raising or lowering that old womans taxes after a bad loan has been made to her seems so inefficient.
Why when so many were crying out that bad loans were being made did nobody save william black and a few others cry out for restraint? These people that lied on applications, loan officers, bank regulators that did not enforce good judgement, crooker appraisers, they all seem to be out of work now. I have an idea to help with their unemployment levels, lets arrest them all, put them into prison work camps, have them fix our infrastructure and alternative energy issues, water issues? They wouldn’t even have to be housed in a state paid prison, just put them on house arrest and make them show up to the work crews like they would a regular job.
In one fell swoop this would teach them not to be bad citizens, fix unemployment, teach new skills, and get lots of upgrades done to our nation. 4 birds with one stone, you can take that to the bank!
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Warren Mosler Reply:
July 5th, 2009 at 5:59 pm
you’ve seen my proposal? let the foreclosure process run its course, and have the govt buy the houses at the foreclosure sale if the previous owner wants to rent it from the govt at current, fair market rent, for maybe two years, and then have the govt sell it at market prices.
yes, there are the obvious details to be worked out
and it’s a lot of work, but seems to me far less work and inherently ‘fair’
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July 5th, 2009 at 3:37 pm
Right now your timing is looking pretty good … need publicity, considered asking Palin to be your running mate?
Looks like uptick in bank lending in April/May is reversing in June…
http://www.federalreserve.gov/releases/h8/Current/
Obama better take your advice soon.
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