'In the 1960s, when the driver’s seat in his Nash Rambler collapsed, Mr. Volcker propped it up with a chair and continued to drive the car. ’ I remember the song about his car.
At work, when we remove the seat(s) to be reupholstered, we sit on plastic buckets to move the truck(s) around the yard
Not to speak ill of the dead but why not fix the dang seat? If you increase production and profits, you can increase wages and promote growth without inflation. Little known fact. If you have high inflation, high interest rates, and fear of the future, people will spend like heck to protect themselves before the products get any higher priced, thus increasing inflation. Another little understood concept. Fighting a depression by creating temporary jobs, gutting corporate profits, and massive regulation, prolongs said depression. Change my mind.
It’s just waaaaay too marvelous how ‘market conditions’ seem to mysteriously evolve to increase the power and wealth of those at the top to the detriment of those at the bottom. I recall that Bowls lady who was trashed for her condemnation of hedge funds/CDSs 20 years ago. It was quite evident at the time that she was just an emotional woman who was unable to comprehend ‘market conditions’ which were profitable to those who were more insightful.
In reality the CDSs were worm holes for the insiders to pour money out of the markets and into their off shore accounts and those worm holes are again perfectly legal, apparently as a result of ‘market conditions.’
Why do you think there is so much gnashing of teeth and screaming by the elite that are having their monopolies and cash cows threatened? Incredible but the louder they scream the more you know you are over the target.
Which elite are you speaking of @Bing?
Well keep your eyes peeled, but a start would be the advertisers on the major news networks.
Hmmm… all this time I thought the elites were supposed to be experts in a technical field or the arts. I wouldn’t call advertisers elites by that measure.
Huh. I thought the subject of this thread was “Paul Volcker’s Nash Rambler,” and not “Paul Volcker’s Enduring Impact on the US Economy.”
Type is too small for me to read in your comic-icon Carolyn. What does the caption say?
It’s a guy kneeling in front of his son on the playground, and it says, “Son, if you can’t say something nice, say something clever but devastating.”
The best advice my father ever gave me was to ‘keep quiet and stay out of the way’. I often wish that I had followed his advice closer.
Huey P Long was a more astute observer of partisan politics than anyone I see these days. According to Huey the only difference in the Dems and Reps is one skins you from the ankle up and the other from the neck down and each party finds success in convincing people on Main St to have faith in their grand schemes.
Heh heh. In the book “The Forgotten Man”, an analysis of the steps taken by Hoover and FDR to combat the Great Depression, Huey was mentioned as advocating free college among other radical positions about 1935. The term “glass house” comes to mind but evidently nothing new under the sun, just regurgitated.
Obviously Bernie shared Huey’s views and Bernie would have likely been elected in '08. Hillary lost on a technicality after all and Bernie was more popular among the ‘progressive’ base than she was.
BTW, I recently heard a conservative congressman trashing FDIC protection for the ignorant, entitled poor. He was angry that the wealthy paid a higher tax to fund the FDIC protection when intelligent people took care of their own money. I honestly couldn’t believe such honest remarks.