Economics of Chaos

What is really wrong with our Financial Systems? Non Producers Production of goods and services is essential in any prosperous economy. Can an economy prosper if it is a service economy only? The American economy can not. That however is just part of the answer. The second part of the answer to the question lies in what is considered a service. Care for patients in a nursing home is an extremely important service but it has not always enjoyed much prestige or decent remuneration. Another industry, an altogether different industry, is broadly classified as financial services . Brokerage firms, hedge funds, investment banks, venture capital firms and related businesses are all in this very large financial service sector. All are all very prestigious and the remuneration  is much higher than any part of the American economy. Not even film or sports stars come close to Hedge Fund Managers! My contention is that the American economy is in danger of collapse because the fina

Throw the Bums Out! An interesting notion: Make our Congress Accountable  for their record!! Here is an example of idiocy in Washington. The two most vociferous  proponents of the very policies that have gotten the US Economy in the most trouble have their name on an in name only reform bill that will probably pass. Primarily, the legislation addresses issues that could and should be solved by a FREE MARKET. This is typical. We should simply enforce the laws that are on the books; NOT WRITE MORE. This bill is particularly bad because it actually creates yet another government agency. The Bill  does not go far enough in curbing DERIVATIVES. The Bill does NOT EVEN TOUCH the Housing Crisis or Fannie Mae and Freddie Mac. This alone is enough to justify replacing every member of Congress who would dare go along with this legislative hoax. "National Review notes that the bill is aptly named after two of the leading causes of the financial crisis that preci

American Consensus Our entire economy and even elements of our basic society is in Chaos. Even in chaos, we are still the best society on the planet in many ways but we could do better. Doing better is what Economics of Chaos is all about. This post of the Economics of Chaos Blog is also an introduction to a group  that I am forming.  American Consensus ; the groups' aim is to come to grips with our problems and offer solutions to them and to promote our ideas after a majority of our members have spoken and agreed on the best course of action. I will serve as Chair and moderator until someone better and brighter than me comes along. I welcome your input and assistance. To join or comment; Please E-mail me at: jmcdonough44@gmail.com Our Founding Fathers were great at compromise and consensus. In their own time, the Founders were determined to move the new national ideal of a Free and Equitable America forward. These great men all had strong opinions concerning

'Irish Calendar and Bloomsday Events'

Economics of Chaos Series The Chaos in Immigration Compromise Now! The stakes are high, the future of American Society is at stake. We must make reasonable decisions based on reality.  We cannot roll back the clock and pretend that the  multiple problems that we have will go away. Immigration Reform Now This must happen in 2010!! The impasse: The right wants the borders sealed before anything will happen. The left wants "REFORM" that guarantees a path to citizenship now or Amnesty now. There can be a compromise on this issue that makes sense. Give an opportunity for a  path to citizenship to illegals who have been here for a minimum of two years and who have not broken any laws or received any aid or benefits through fraud. Give these hones and hard working individuals immediate legal status for a modest penalty fee in addition to the regular cost of the application for legal status. There are immediate benefits of this compromise. First it will help

GM Bragging About Paying Back Loan; It Is Only Part of the Story Big Spin more than Big News... The U.S. payments, made Tuesday, April 20, came five years ahead of schedule, and GM CEO, Whitacre said they are a sign that the automaker is on its way 
toward reducing government ownership of the company. Whitacre added a lot more to  his truckload of spin; "Nobody was happy that GM needed government loans — not the 
governments, not the taxpayers and, quite frankly, not the company," 
 Whitacre wrote in an op-ed article that appeared on The Wall Street 
Journal's Web site Tuesday night. "We believe we can best thank the 
citizens of the U.S. and Canada by making sure that their investments 
are hard at work every day, building high quality, fuel-efficient 
vehicles." Nobody was happy!! WHO are we kidding here; almost EVERYBODY was happy: Whitacre, the Unions, the politicians, the lawyers, the lobbyists...everybody except GM stockholders and the Americ