Comments on: The angel is in the detail http://blogs.reuters.com/edward-hadas/2012/11/14/ethical-economy-the-angel-is-in-the-detail/ Wed, 07 Oct 2015 17:23:32 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: M.C.McBride http://blogs.reuters.com/edward-hadas/2012/11/14/ethical-economy-the-angel-is-in-the-detail/comment-page-1/#comment-919 Fri, 16 Nov 2012 14:03:07 +0000 http://blogs.reuters.com/edward-hadas/?p=343#comment-919 Edward Hadas the problem is your logic assumes “angels” will just materialize and solve all the problems that have been problems for years in numerous sectors of the economy. Keep praying and wondering why “your magical thinking” doesn’t solve our problems. If the problems are so wide spread, it would take a powerful central government and powerful state governments to solve all of them. It would be good to have a media that used some scientific thinking, so we can all start working together in a coordinated fashion to start solving them.

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By: PotomacOracle http://blogs.reuters.com/edward-hadas/2012/11/14/ethical-economy-the-angel-is-in-the-detail/comment-page-1/#comment-918 Fri, 16 Nov 2012 09:12:41 +0000 http://blogs.reuters.com/edward-hadas/?p=343#comment-918 Since Capitalism survives on sales which depend upon disposable income the quintessential solution to most problems within our economy is the availability of money.

We have debt money and non-debt money. The former comprises 99.7% of all money in circulation. The remainder is made up of coins. Since, the collapse of Bretton Woods brought about mainly by American deficit spending, debt money has gradually forced investment preferences from productive assets to financial assets which contribute little or nothing to economic growth and progress for a majority of Americans.

We’ve seen the ineffectual Bernanke Helicopter Drops QE to the nth power, frittered away simply because the drops were in the wrong sectors. In the meantime debt money has and will continue to extract its rent from an economy needing to retain some of its surplus to rebuild. Yet, the annual debt service $450 B in 2011 is seldom mentioned as major issue. Debt service will decline in 2012 by almost $100 B due to much lower interest rates, not less borrowing.

What is not mandated ad infinitum is the need for a sovereign nation to borrow. Current law indeed the Constitution provides for the issuance of non-interest bearing legal tender in the form of coins. And in 1996 the Congress authorized platinum coins in 31 USC 5112(k) (“with such specifications, designs, varieties, quantities, denominations, and inscriptions as the Secretary, in the Secretary’s discretion, may prescribe…”). If deficit spending was paid for (eliminated actually) with miscellaneous receipts revenue generated by selling the Fed jumbo denomination coins, and since the Federal Fund Rate can now be pegged with Interest on Reserve payments in lieu selling Treasuries to drain excess reserves, Tsy could fund govt operations indefinitely without ever raising the statutory debt limit.

This link fully describes Platinum Coin Seigniorage and its operational alternatives for eliminating all discussion of the fiscal cliff, debt ceiling, Sequestration etc. Also included at this link is the speech the President should give resolving the issues of austerity and default.

THU AUG 02, 2012 AT 06:30 AM PDT
Beyond Debt/Deficit Politics: The $60 Trillion Plan
by Letsgetitdone

http://tinyurl.com/cjzlt82

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By: ArmenPapazian http://blogs.reuters.com/edward-hadas/2012/11/14/ethical-economy-the-angel-is-in-the-detail/comment-page-1/#comment-916 Thu, 15 Nov 2012 21:41:13 +0000 http://blogs.reuters.com/edward-hadas/?p=343#comment-916 I think this piece is quite pathetic!!!
See why:
http://www.keipr.com/sitebuildercontent/ sitebuilderfiles/seammaec011112final.pdf

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By: Renox http://blogs.reuters.com/edward-hadas/2012/11/14/ethical-economy-the-angel-is-in-the-detail/comment-page-1/#comment-915 Thu, 15 Nov 2012 21:23:30 +0000 http://blogs.reuters.com/edward-hadas/?p=343#comment-915 Clearly the time has come to get rid of these economic charlatans, so called leaders who are nothing more than mascots of Maffia cartels. Corrupt, belligerent, immoral failures like Mr Obama the Peace Prize winning War criminal.

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By: Oma http://blogs.reuters.com/edward-hadas/2012/11/14/ethical-economy-the-angel-is-in-the-detail/comment-page-1/#comment-914 Thu, 15 Nov 2012 16:34:30 +0000 http://blogs.reuters.com/edward-hadas/?p=343#comment-914 We the consumer, are part of the problem. We buy things we co not understand and we don’t read our receipts.

We cannot add and subtract quickly in our heads, we are rushed through checkout lines, and should we find a mistake in our receipts, we then have to stand in another line at customer service if we want it corrected. I find several mistakes in favor of the store each year, usually under one dollar. Usually I don’t have time or energy for customer service, so over the years I have developed a mind set of allowing myself to be cheated.

We buy things we do not understand. The worst are insurance, mortgages, things with warranties, automotive mechanics and medical/dental services. There is a new urban truisim: “The only thing sure about insurance is that you pay premiums.”

Re-empowerment of consumers would be part of the solution.

We need to re-learn the habit of reading our receipts. Perhaps significant financial compensation for store errors — ten dollars or ten percent of the overcharge, whichever is more?

Children need to learn to add and subtract.

Insurance, mortgages and warranties need to be made simple enough for a high school graduate to understand, and recourse should be affordable and quick. Ditto auto mechanics, doctors/dentists, contractors and government.

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By: xit007 http://blogs.reuters.com/edward-hadas/2012/11/14/ethical-economy-the-angel-is-in-the-detail/comment-page-1/#comment-912 Wed, 14 Nov 2012 18:48:54 +0000 http://blogs.reuters.com/edward-hadas/?p=343#comment-912 At least you put the right perspective on the real engine in the U.S. – it is us. Problem is that the small problems of our early government has twisted the decision making and has enabled the Government to overstep its bounds. Tell where crony politics has not corrupted our governing body. Tax code is corrupted(lobbied), agencies are run by political hacks, government spending suffers for all of this. The politicians just trade favors – I’ll vote for you guys contract if you let me go…this is government d’jour . They will find anyway to spend and feel good about spreading it around. MR. Hadas – you are right – it takes well qualified and gifted people to solve these issues. We have too many incompetent cooks..over our broth. I wasn’t ecstatic about Romney – but he knew how the private sector worked and Obama only know how government programs work….now we are back to the social tinkering and spending – hope is all we have left.

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By: ALLSOLUTIONS http://blogs.reuters.com/edward-hadas/2012/11/14/ethical-economy-the-angel-is-in-the-detail/comment-page-1/#comment-911 Wed, 14 Nov 2012 17:41:44 +0000 http://blogs.reuters.com/edward-hadas/?p=343#comment-911 So?

Yes, the United States and most nations of the Western world have huge problems. They are not going to be solved; they may be resolved by natural forces. This will mean massive unemployment, shrinking economies, huge debt defaults, etc. There is even the possibility of riots, looting and worse.

Why?

Stupid, incompetent, corrupt politicians; too many entrenched special interest groups(this does NOT mean business); the focus on ideologies; the people looking to the wrong sources for solutions.

These problems are very solvable; but not the way anybody wants.

Solutions are available at http://trueproblems.wordpress.com/

The facts no one wants to read.

Learn to think for yourself.

Banned from huffpost.

Censorship is evil.

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By: LysanderTucker http://blogs.reuters.com/edward-hadas/2012/11/14/ethical-economy-the-angel-is-in-the-detail/comment-page-1/#comment-910 Wed, 14 Nov 2012 16:55:07 +0000 http://blogs.reuters.com/edward-hadas/?p=343#comment-910 Once an economy tanks and the mindsets of the people as a whole change from spending and borrowing (buy now pay later) to scrimping and saving (plan for the future and put back for tough times), it will be a while before those mindsets change. Usually it’s a generational change that takes time. It took years to cause this issue bit by bit till it imploded. It’ll take years to get out of it, if we can. I keep thinking back to the phrase “too big to fail” that came out of all this. Does the government think they are too big to fail? If Congress as a whole doesn’t understand income vs expenditure, how are we to have any faith in them for all the intricacies that this article suggests?

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