Warm Southern Breeze

"… there is no such thing as nothing."

Posts Tagged ‘economic infrastructure’

The Direction America Should Go In, Is…

Posted by Warm Southern Breeze on Tuesday, October 13, 2020

Most polls which ask the question “Do you think America is headed in the right direction?” find that an exceeding majority of respondents answer “NO” to that very simple, straight-forward question.

Since January 2009 to today (October 13, 2020), those who believe the country is on the wrong track has ranged from a high of 76.5% to a low of 45.8%, with the majority occurring in the 60% range for most of that time, who think the country is headed in the wrong direction. That’s according to the averaged aggregate polling data collected by RealClearPolitics from a variety of polling organizations.

About the President, some have intoned sarcastically, “Poor ol’ Trump is the only President that has ever made mistakes.”

No, of course not, and it’s easy to understand the tenor and gist of such sarcasm.

Flooding by Hurricane Katrina in New Orleans

I can say, have said, and will say this, however, and it is that, to date, in our nation’s history, he is the ONLY President whom has NEVER held any office of Public Trust of any kind, whatsoever – neither elected nor appointed – nor has he EVER volunteered for or with any kind of Public Service in ANY capacity with any public policy or public service-based organization. And for that reason, he is as unfit for duty as his bone spurs made him during Vietnam.

While many criticize and make political hay out of regarding a candidate’s “inexperience,” and tout that as being a strong point of benefit, there is this to consider – which I’ll explain using analogy.

Most people are employees. They have a job to do, and do it well. But they’ve never owned, nor run a company of any kind.

So it would be utterly preposterous, absurd, and even stupid, to imagine that just anyone would be able to step into Jeff Bezos’s shoes (Amazon’s Founder, President, CEO) and perform his job at least as good as he does.

We would be utter failures… just like the President is.

Another part of that problem is that the President’s “mistakes,” or “failures,” as they’re properly called, affects 330,441,455 people, and the world’s LARGEST economy.

And on that note, I’ll make this observation:

As the world’s 3rd most populous nation, to China and India, respectively, each with over 1 BILLION MORE people than we have, it is the height of absurdity and preposterousness to imagine for even a moment that somehow, with that many people and STILL GROWING, that we should somehow have a “smaller” government is not merely stupid, it is moronic.

Analogously again, it’s like imagining that you should wear smaller clothes the bigger you get. It’s nonsensical on the order of Alice in Wonderland.

VERY few people want to talk about it, and even FEWER want to hear it, but… because our elected officials Read the rest of this entry »

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Common Sense: An Endangered Species?

Posted by Warm Southern Breeze on Wednesday, August 19, 2020

Perhaps it’s been said before – “common sense isn’t so common anymore.”

Maybe even, at one time, or another, you’ve said as much.

Common sense, of course, is a thought process that implies a.) one is thinking, and b.) one is using process of reasoning.

And, without exception, EVERYONE thinks. Not everyone exercises good judgment.

Some take common sense for granted, while others do not.

Common sense may arise from experience, and/or education, and sometimes, experience is a harsh taskmaster – lessons learned aren’t always learned the easiest, or best way. But, it’s education nevertheless.

Point being, is that when we think, we use our highest and best faculties, which separates us and makes us unique in the animal kingdom.

So let’s quickly talk about common sense and politics – an area in which many seem to disagree, some even vehemently, and unfortunately, sometimes violently.

When we fight, we often “lose our mind,” and are motivated and actuated by feelings… which can often betray us. Yet, even in structured fighting, such as war, we employ our faculties of reason to win the victory. War, its strategies and tactics, is studied, and taught. So that very act itself demonstrates that our thinking faculties are a higher order than feeling.

Note that instead of saying “I think,” many people say, “I feel.”

That, I think, is a mistake to say that one “feels” rather than “thinks” when expressing an opinion, for it – the feeling – is something which rationally, one cannot argue against. Feelings may be pleasant, or unpleasant. And if one feels this way, or that way, it is a merely a feeling – and may be, and often is, fleeting, or passing – it is temporal, and lasts only briefly. Consider the feeling of being sad, bloated, or even gassy.

This too, shall pass.

But let’s not delve too deeply into the matter, not to become too philosophical or analytical, per se, and suffice it to say that we want to share some common sensical thoughts – ones that many, if not most, or, even all, could agree upon – in the realm of politics.

It is, after all, political season, and we human beings are political animals. Read the rest of this entry »

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To Reboot the Economy, $pend on Economic Infrastructure!

Posted by Warm Southern Breeze on Sunday, June 7, 2020

This is nothing new, per se.

The American Society of Civil Engineers has been saying this for quite some time, as well, which is that throughout America – coast-to-coast – we need to repair, enhance, and expand American economic infrastructure.

And, I’ve been saying that what we TRULY need to reinvigorate the economy since the onset of economic woes via the novel coronavirus, aka COVID-19, began to take its toll on our nation’s economy, is a wholesale reinvestment – top to bottom – in a repair, and expansion of our nation’s economic infrastructure.

While the “bailouts” for the individual citizens was good, and some of the Paycheck Protection Program for small businesses was also good, we STILL need to do MUCH, MUCH MORE!

And there’s something else which – of necessity – must be done. And that is, to CHANGE the Income Tax structure for ALL Americans, to expand and increase the Personal and Corporate Income Tax brackets (which since about 1980 has been compressed and reduced, so that now, the net effect is a flat tax), and to increase the rates upon the rich, wealthy, and well-to-do, and to lower, or eliminate them upon the impoverished, and disabled. And that includes ELIMINATING the Income Taxes Reagan imposed upon Social Security, and the “Paris Hilton Tax Cuts.”

Such a measure WILL “pay for itself” through enhanced, and expanded economic capability and capacity, and will prepare America for the next 50 or more years.

Oh!

And one more thing.

In 2016, the ASCE published a document titled “Failure to Act: Closing the Infrastructure Investment Gap for America’s Economic Future,” which stated in part the following:

“The cost of deteriorating infrastructure takes a toll on families’ disposable household income and impacts the quality and quantity of jobs in the U.S. economy. With deteriorating infrastructure, higher business costs will be incurred in terms of charges for services and efficiency, which will lead to higher costs incurred by households for goods and services due to the rising prices passed on by businesses.

“As a consequence, U.S. businesses will be more inefficient. As costs rise, business productivity falls, causing GDP to drop, cutting employment, and ultimately reducing personal income.

“From 2016 to 2025, each household will lose $3,400 each year in disposable income due to infrastructure deficiencies; and if not addressed, the loss will grow to an average of $5,100 annually from 2026 to 2040, resulting in cumulative losses up to almost $34,000 per household from 2016 to 2025 and almost $111,000 from 2016 to 2040 (all dollars in 2015 value).

“Over time, these impacts will also affect businesses’ ability to provide well-paying jobs, further reducing incomes. If this investment gap is not addressed throughout the nation’s infrastructure sectors by 2025, the economy is expected to lose almost $4 trillion in GDP, resulting in a loss of 2.5 million jobs in 2025.

“Moreover, workers who are employed will earn lower wages, and in the long term, many higher paying jobs in technology and other leading sectors will be replaced by jobs that fulfill needs brought on by the inefficiencies of deteriorating infrastructure.

“Closing each infrastructure investment gap is possible, and the economic consequences caused by these gaps are avoidable with investment.”

You can read that, and other entries associated with economic infrastructure, on this site by searching for the term “economic infrastructure.”

A final, parting thought:

We aren’t out of the woods yet… not by a long shot. Such economic prognostication is shared by many within, and without various universities, educational institutions, economic think-tanks, governmental, and non-governmental agencies throughout this, and other nations. And economic infrastructure spending would be like putting the country on a defibrillator, and giving it steroids, all at the same time.

The Chinese have.


Rebuild the Stalled Economy With Infrastructure Investment

By Scott Paul
Scott Paul is president of the Alliance for American Manufacturing.

There are two discussion topics that federal policymakers should be having right now: relief and recovery. Relief, for the estimated 40 million people this pandemic has put out of work as well as the millions of others impacted by the steps taken to slow its spread. Recovery, for the day when it’s safe to return to work but the demand for goods and services is still missing.

Some economists predict many jobs will simply disappear as industries use this moment to reorganize, compounding the economic crisis our nation faces.

But, as we all know, this isn’t the first time we’ve faced an economic crisis. In the 1932 presidential election, Franklin D. Roosevelt decisively beat President Hoover because of the latter’s inability to revive the economy in the early years of the Great Depression. Democrats eschewed Hoover’s volunteerism and leveraged the power of government to spur an economic revival, passing a landmark domestic preference bill that the lame duck president signed – the Buy American Act of 1933 – and then cleared the way as FDR expanded the federal response to the crisis.

The banking system was reorganized. Labor protections were established in exchange for regulating industrial production levels and price coordination. Farms were Read the rest of this entry »

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Report: U.S. to LOSE $4 TRILLION GDP, 2.5 MILLION Jobs in 5 Years

Posted by Warm Southern Breeze on Monday, May 11, 2020

“Over time, these impacts will also affect businesses’ ability to provide well-paying jobs, further reducing incomes. If this investment gap is not addressed throughout the nation’s infrastructure sectors by 2025, the economy is expected to lose almost $4 trillion in GDP, resulting in a loss of 2.5 million jobs in 2025.

“Moreover, workers who are employed will earn lower wages, and in the long term, many higher paying jobs in technology and other leading sectors will be replaced by jobs that fulfill needs brought on by the inefficiencies of deteriorating infrastructure.”

There you have it!

Why focus upon repairing, rebuilding, replacing, and expanding America’s deteriorated economic infrastructure?

Because not only will YOU lose money and unemployment will increase, but American Gross Domestic Product will seriously decline, and that means reduced profitability for businesses of all types and all sizes – from Mom & Pop small and minority-owned businesses, to corporate giants, as well.

That finding is from the American Society of Civil Engineers (ASCE), and their report “Failure to Act: Closing the Infrastructure Investment Gap for America’s Economic Future,” which was published in May 2016, as the final update from four previous reports in the Failure to Act series published in 2011 and 2012. In those reports, the ASCE examined 10 infrastructure sectors critical to American economic prosperity.

Those reports were followed by a fifth, comprehensive final report entitled “Failure to Act: The Impact of Infrastructure Investment on America’s Economic Future,” which focused upon the total economic loss which would occur because of America’s failure to act in more than one sector.

The purpose of the report was to provide a total overall analysis of the economic implications of continuing to fail to invest in multiple infrastructure categories.

Even the Central Intelligence Agency sees America’s problems for what they are. It’s as plain as the nose on one’s face. And it’s NOT a partisan, Republican versus Democrat type of issue. It’s a matter of NATIONAL SECURITY.

Even America’s spy agency, the Central Intelligence Agency (CIA), sees the problem clearly, and has recognized not only it, but the increasing inequities of income distribution, as well.

“Long-term problems for the US include stagnation of wages for lower-income families, inadequate investment in deteriorating infrastructure…

“…the rise of low-wage producers such as China, has put additional downward pressure on wages and upward pressure on the return to capital. Since 1975, practically all the gains in household income have gone to the top 20% of households. Since 1996, dividends and capital gains have grown faster than wages or any other category of after-tax income.”

Now that we’ve identified the problem, let’s consider a workable solution.

Nothing is free in this nation, nor anywhere else, for that matter. And EVERY government runs on taxes, and has done so at least since the time of the Roman empire. And face it… if the Romans built aqueducts and roads that have lasted for at least 2000 years, we can too – and should.

Simply put, income tax rates WILL Read the rest of this entry »

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Guess What’s a Matter of National Security?

Posted by Warm Southern Breeze on Sunday, May 10, 2020

Even our spooks see it.
Why?
It’s a matter of National Security.
Period.
End of conversation.
“Long-term problems for the US include stagnation of wages for lower-income families, inadequate investment in deteriorating infrastructure, rapidly rising medical and pension costs of an aging population, energy shortages, and sizable current account and budget deficits.”  
 
“But the globalization of trade, and especially the rise of low-wage producers such as China, has put additional downward pressure on wages and upward pressure on the return to capital. Since 1975, practically all the gains in household income have gone to the top 20% of households. Since 1996, dividends and capital gains have grown faster than wages or any other category of after-tax income.”
The ONLY question remaining is:

What are we Read the rest of this entry »

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“Radical reforms” are needed to stabilize economy.

Posted by Warm Southern Breeze on Monday, April 6, 2020

The Financial Times is no slouch organization – neither are they “left-leaning,” nor “liberal,” per se – at least not in the common, modern political sense.

They’re as “conservative” as they come.

And to read that “an irregular and precarious labour market,” combined with “monetary loosening by central banks [that] will help the asset-rich,” the loss of income by ” the young and active,” multiplied by

In short, nothing but “radical reforms” – defined as “reversing the prevailing policy direction of the last four decades” – will save individual nations’ economies, and the global economy at large.

The “laissez faire” attitude toward business, economy, and finance must be replaced by governments taking “a more active role in the economy,” including making “labour markets less insecure.”

Investing in public economic infrastructure, i.e, considering “public services as investments,” reconsidering the notion of “redistribution” of wealth, in conjunction with eliminating “the privileges of the elderly and wealthy,” and implementing “basic income and wealth taxes” will no longer be “considered eccentric.”

In short, “you must offer a social contract that benefits everyone.”

Suddenly (it seems), Bernie’s ideas aren’t so “radical,” anymore.

Suddenly (it seems), Elizabeth Warren’s ideas aren’t “way out in left field.”

Suddenly (it seems), Andrew Yang’s “Freedom Dividend” isn’t “extremist.”

Suddenly (it seems), everything old is new again.

But, you know the saying,

“Progress, far from consisting in change, depends on retentiveness. When change is absolute there remains no being to improve and no direction is set for possible improvement: and when experience is not retained, as among savages, infancy is perpetual. Those who cannot remember the past are condemned to repeat it.”

–– George Santayana (1863-1952), Spanish philosopher, writing in The Life of Reason: The Phases of Human Progress (1905-1906), “Vol. I, Reason in Common Sense”

The post-WWII Bretton Woods agreement, which pegged international currencies to the U.S. Dollar, which was itself based upon the “Gold Standard,” will again be in the fore of discussion, and was unilaterally abolished by then-POTUS Richard Nixon through a series of measures called the “Nixon Shock” which effectively destroyed the Agreement, which was created when the world’s nations assembled in Bretton Woods, New Hampshire to establish a globally stabilizing economic system.

The Federal Reserve writes this about the Bretton Woods agreement:

“The international monetary system after World War II was dubbed the Bretton Woods system after the meeting of forty-four countries in Bretton Woods, New Hampshire, in 1944. The countries agreed to keep their currencies fixed (but adjustable in exceptional situations) to the dollar, and the dollar was fixed to gold. Since 1958, when the Bretton Woods system became operational, countries settled their international balances in dollars, and US dollars were convertible to gold at a fixed exchange rate of $35 an ounce. The United States had the responsibility of keeping the dollar price of gold fixed and had to adjust the supply of dollars to maintain confidence in future gold convertibility.”

Up until the time of the “Nixon Shock,” employees’ wages in the United States had generally kept pace with increases in GDP, or economic output. But after the “Nixon Shock” in 1971, wages have essentially flat-lined, while GDP has risen.

In response to Nixon’s unilateral decision, the ten leading developed nations in the world – Belgium, Canada, France, Germany, Italy, the Netherlands, Japan, Sweden, the United Kingdom, and the United States – entered into an agreement monikered as the Smithsonian Agreement which was a temporary agreement negotiated in 1971 which adjusted the system of fixed exchange rates established under the Bretton Woods Agreement and created a new standard for the dollar, to which other industrialized nations then pegged their currencies to the U.S. dollar.

As Certified Financial Analyst Michael Lebowitz, wrote in 2016, “unshackling the U.S. monetary system from the discipline of a gold standard, allowed the Fed to play a leading role in replacing the Virtuous Cycle with an Un-Virtuous Cycle. Eliminating the risk of global redemption of U.S. dollars for gold also eliminated the discipline, the checks and balances, on deficit spending by the government and its citizens. As the debt accumulated, the requirement on the Federal Reserve to drive interest rates lower became mandatory to enable the economic system to service that debt. And this effectively changed the course of U.S. economic history.”

These observations, and others, are, and have been, borne out by others, as well, such as in February 14, 2019, by Bloomberg writer Noah Smith, who wrote about wage stagnation in part that, “Workers lost a lot of ground between 1973 and 1994, and didn’t make up enough of it between 1994 and 2009. Stronger worker representation within companies, as well as government health care, would help restore some of those losses.”

But perhaps the simplest explanation I’ve ever heard, or read, about the value of good, strong and effective regulation is one which I’ve said for many years, which is this:

Regulations strengthen markets the same way that regulations create competitive sports, and operate machinery. Remove regulations and games become a pointless free-for-all, while removing or changing regulations on an automobile engine (such as through changing timing), and it will self-destruct fairly quickly.

But again, it seems that “Those who cannot remember the past are condemned to repeat it.”

Are our memories truly that Alzheimered?

Or, do we just not give a damn?

I contend that for some, Read the rest of this entry »

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Government Spending

Posted by Warm Southern Breeze on Wednesday, April 24, 2019

About that “government spending” thing being a boost to the economy:

Yes, it’s true. We found that out early on, which was how our nation recovered from the Great Depression.

So… here’s the spending we need now (no, it’s not the “Green New Deal”) – INFRASTRUCTURE!!

Oh, and EVERY red cent that “we the people” spend through our government comes from the Private Sector.

Every material – raw or finished – and all manpower comes from the Private Sector; and only after public notices via competitive open (public) bidding.

Yeah. Think about that one for a while.

There is NO “government factory” in our nation. Never has been, never will be.

So, yeah… every four years, the American Society of Civil Engineers rates the overall quality of American economic infrastructure “in the familiar form of a school report card—assigning letter grades based on the physical condition and needed investments for improvement.”

In 2017, American Economic Infrastructure’s quality was graded as Read the rest of this entry »

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Economic Infrastructure Strained By Severe Weather And Climate Change

Posted by Warm Southern Breeze on Sunday, February 10, 2019

Updated Saturday, 31 October 2020

Increasingly, there’s a political tie-in to almost every news story published these days. And frankly, I’d much rather write about other, more benign, or even pleasant topics. But, these matters affect us all, and our very lives and livelihoods are at stake. So, because these are pressing matters, I give heed to them, as I hope you do also.

Recently, NPR News published a story while our nation was in the throes of the “Polar Vortex,” which is the name now given to a severe “cold snap” which plunged much of the Midwest and East into literally Arctic temperatures. In fact, as we we’re told by numerous meteorologists and other weather / climate scientists and researchers, the Arctic was actually warmer than many places affected, most notably including Chicago, the Twin Cities (Minneapolis–Saint Paul), Iowa, Pennsylvania, and other states up through the area, with some locales suffering from temperatures which dipped down into the -23ºF range, or lower. Many Low Temperature records were surpassed, and when combined with Wind Chill Factors, temperatures feel like at least double that (-40ºF), and more.

A Minnesotan is extremely bundled up protecting every square inch of exposed skin while awaiting public transportation outdoors during extremely dangerous cold conditions which occurred during the 2019 Polar Vortex.

By all estimates, it was one of the most severe such events in recorded history, and was also the cause of numerous deaths of people of all ages and sexes (21 at last count, not all who were homeless), due of course, to cold temperature extremes. Homeless shelters throughout the affected areas were literally accepting anyone and everyone, and numerous other organizations and agencies created emergency shelters for others to avoid the deadly conditions. Area residents were severely warned to avoid going outdoors at all costs, simply because inadequate dressing, or any exposed skin would certainly suffer frostbite, or worse.

But there was another, largely overlooked problem which was only given cursory attention. And that was the effects and strains the severe climatic conditions placed upon infrastructure, which is often called economic infrastructure.

Essentially, infrastructure describes a nation’s internal facilities that enable business activity, which are fundamental requirements for economic development, which is vital to improvements in a country’s standard of living, and consists of facilities, activities and services that assist to increase overall economic productivity at a national level.

Infrastructure has two broad component parts: 1.) Social Infrastructure, consisting of basic services such as education, training, including health, sanitation, potable water supply, housing, sewerage, etc., while; 2.) Physical Infrastructure directly supports economic production, and consists primarily of supporting the production and distribution of products and services including agriculture, industry, and trade, supports, and directly increases productivity.

An example of Physical Infrastructure would be the production of hydroelectric dams by the Tennessee Valley Authority, creation of electrical power, communication, and natural gas delivery grids, roads, waterways, airports and railways for transportation, and potable water and waste treatment plants and their related delivery mechanisms and systems.

All those components must not only be created and developed, but they must be continually maintained, and improved as necessary, to continue to provide services vital to the economy. And it is maintenance which proves frequently to be the Read the rest of this entry »

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Citizens United Ruling Violates Equal Protection Clause

Posted by Warm Southern Breeze on Monday, February 6, 2017

Nick Hanauer, a multi-billionaire about whom few have likely heard, authored a highly publicized article not too long ago warning about wealth inequity. Increasingly, the wealthy are realizing that a strategy of cutting taxes upon the wealthy and their corporations is not a recipe for American success, precisely for the reason that it adversely affects economic infrastructure, and jobs, among other damages.

However, one needn’t be wealthy to realize and understand that money, and the unreasonable desire for it known as avarice (an extreme form of greed), and the unwieldy power that accompanies it, are corrupting influences in any nation, and particularly in our United States because of SCOTUS ruling in the 2010 Citizens United v Federal Election Commission decision which Read the rest of this entry »

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The Power of One Small Idea: How Alabama could hit a home run WITHOUT raising taxes in the budget crisis.

Posted by Warm Southern Breeze on Sunday, May 17, 2015

Creativity is in short supply in Monkeytown, Alabama.

I refer, of course, to Montgomery.

And to be certain, there is a backstory on the nickname.

Seems the Montgomery Zoo was originally located in Oak Park, and then named Oak Park Zoo. The zoo also had an island of monkeys, which once escaped. Hence, the nick name.

For what it’s worth, the Montgomery City Planetarium, formerly known as Gayle Planetarium, is also located in Oak Park. I encourage you to go there, sometime! I have.

But back to the creativity thing.

Alabama is in dire straits fiscally. But, then again, that’s nothing new. Governor Bentley has promised (and broken) numerous pledges in his first & second campaigns. The one bothering most folks is the “read my lips… no new taxes” promise he unwisely made while campaigning for a second term.

It may not be the lie the second time around, as much as it is the entire deception thing from the get-go. Because he, the AL GOP, and the entire Legislature knew all about this well in advance. They knew there would come a day when the monies they “borrowed” from the Alabama Trust Fund must be repaid. That day has come… and is now gone. They’re essentially reneging on their promise, which not only makes them liars, but thieves as well, since money is involved.

So, you’re damn skippy the people are hopping mad!

Again, to be certain, Alabama is in a Read the rest of this entry »

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In Defense of #Infrastructure Spending

Posted by Warm Southern Breeze on Saturday, February 22, 2014

At the federal level, TEApublican types have decried our national deficit, much – if not most – of which came about as a result of placing the price of a decade of warfare on a proverbial credit card. I refer, of course, to the Persian Gulf War, Gulf War II, Operation Desert Shield/Storm and the invasion of Afghanistan, etc., all of which occurred during the previous administration.

Compounding that problem was that corporate and personal income tax rates upon the wealthiest was cut, while simultaneously, the veritable house of cards was crumbling, having been built upon the miry, sinking sands of Wall Street deregulation & greed gone wild.

Nevertheless, as our nation has struggled and clawed its way back to some semblance of fiscal sanity, there have been voices arising whom assert that the federal government’s “bailout” of banks & other large, corporate enterprise has been a gross mistake, and that such a bailout should have never occurred. And, while there will doubtless be volumes written, and debates held about the good and the bad of the ordeal, what’s been done, has been done, and it’s practically all over, but the crying. So the only thing we can do now, is live & learn, and move on.

And yet, respecting one underlying problem which arose corollary to the matter, is the loss of jobs here at home. Again, it was complicated by ‘globalization,’ which – good, bad, or indifferent – is Read the rest of this entry »

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Remarks by President Barack Obama at Chattanooga, Tennessee’s Amazon Distribution Center on Jobs for the Middle Class, 07/30/13

Posted by Warm Southern Breeze on Tuesday, July 30, 2013

The White House

Office of the Press Secretary

July 30, 2013

Remarks by the President on Jobs for the Middle Class, 07/30/13

Amazon Chattanooga Fulfillment Center
Chattanooga, Tennessee

2:00 P.M. EDT

THE PRESIDENT:  Hello, Chattanooga!  (Applause.)  It is good to be back in Tennessee.  (Applause.)  It’s great to be here at Amazon.  (Applause.)

I want to thank Lydia for the introduction and sharing her story.  Give Lydia a big round of applause.  (Applause.)  So this is something here.  I just finished getting a tour of just one little corner of this massive facility — size of 28 football fields.  Last year, during the busiest day of the Christmas rush, customers around the world ordered more than 300 items from Amazon every second, and a lot of those traveled through this building.  So this is kind of like the North Pole of the south right here.  (Applause.)  Got a bunch of good-looking elves here.

Before we start, I want to recognize your general manager, Mike Thomas.  (Applause.)  My tour guide and your vice president, Dave Clark.  (Applause.)  You’ve got the Mayor of Chattanooga, Andy Berke.  (Applause.)  And you’ve got one of the finest gentlemen I know, your Congressman, Jim Cooper.  (Applause.)  So thank you all for being here.

So I’ve come here today to talk a little more about something I was discussing last week, and that’s what we need to do as a country to secure a better bargain for the middle class -– a national strategy to make sure that every single person who’s willing to work hard in this country has a chance to succeed in the 21st century economy.  (Applause.)

Now, you heard from Lydia, so you know — because many of you went through it — over the past four and a half years, we’ve been fighting our way back from the worst recession since the Great Depression, and it cost millions of Americans their jobs and their homes and their savings.  And part of what it did is it laid bare the long-term erosion that’s been happening when it comes to middle-class security.

But because the American people are resilient, we bounced back.  Together, we’ve righted the ship.  We took on a broken health care system.  We invested in new American technologies to reverse our addiction to foreign oil.  Changed a tax code that had become tilted too much in favor of the wealthy at the expense of working families.  Saved the auto industry, and thanks to GM and the UAW working together, we’re bringing jobs back here to America, including 1,800 autoworkers in Spring Hill.  (Applause.)  1,800 workers in Spring Hill are on the job today where a plant was once closed.

Today, our businesses have created 7.2 million new jobs over the last 40 months.  This year, we’re off to our best private-sector jobs growth since 1999.  We now sell more products made in America to the rest of the world than ever before.  (Applause.)  We produce more renewable energy than ever.  We produce more natural gas than anybody else in the world.  (Applause.)  Health care costs are growing at the slowest rate in 50 years.  Our deficits are falling at the fastest rate in 60 years.  (Applause.)

So thanks to hardworking folks like you, thanks to the grit and resilience of the American people, we’ve been able to clear away some of the rubble from the financial crisis.  We’ve started to lay a new foundation for a stronger, more durable America — the kind of economic growth that’s broad-based, the foundation required to make this century another American century.

But as I said last week, and as any middle-class family will tell you, we’re not there yet.  Even before the financial crisis hit, we were going through a decade where a few at the top were doing better and better, but most families were working harder and harder just to get by.  And reversing that trend should be Washington’s highest priority.  (Applause.)  It’s my highest priority.

But so far, for most of this year, we’ve seen Read the rest of this entry »

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High-Speed Trains in Slow Lane for USA

Posted by Warm Southern Breeze on Saturday, December 29, 2012

High-speed, magnetic levitation, monorail trains are the future of transportation across America. When will we realize the benefits that could accrue to our nation & it’s people & economy as a result of constructing such a network across our union?

China Holds Test Run on World’s Longest High-Speed Railway Link

By Bloomberg News – Dec 23, 2012

China tested its 2,298-kilometer (1,428-mile) high-speed rail line, the longest in the world, as it prepares to start passenger service in two days.

Bullet-trains on the line from Beijing to southern Chinese city of Guangzhou can run at an average speed of 300 kilometers per hour, the official Xinhua news agency said. It will shorten the rail travel time from the capital to the Pearl River Delta to about eight hours from the previous 24 hours.

Chinese high speed train

A China Railways CRH3 high speed train is parked at the Beijing South station in Beijing, China. Nelson Ching/Bloomberg

China is accelerating railway investment again after it introduced new safety measures following a deadly bullet-train crash in Wenzhou that killed 40 people in July 2011. Railway investment as of October rose almost 250 percent from a year earlier as the government stepped up fiscal measures to help growth.

“Government-driven investment has quick effects on boosting growth in the short term,” said Yuan Gangming, a researcher with the Chinese Academy of Social Sciences, a government think-tank based in Beijing. “But you can’t rely on investment to drive growth forever.”

Yuan said China had a “great leap forward” in spending on railways since 2008 and this is expected to “normalize” in coming years with the completion of major lines such as the Beijing-Guangzhou high-speed link.

More than 100 Chinese and international journalists were invited to join the Dec. 22 test run, Xinhua said.

Hong Kong

The bullet-train line will be extended to Hong Kong in the future and will add to competition for Read the rest of this entry »

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The Biggest Economic Challenge of Obama’s Second Term

Posted by Warm Southern Breeze on Monday, September 10, 2012

Investing in economic infrastructure is ALWAYS a sound decision because
1.) Materials and Manpower ALWAYS comes from the private sector (and always will), and;
2.) Economic capacity and economic opportunity expands.

Note also these two remarks:

Corporations won’t hire more workers just because their tax bill is lower and they spend less on regulations. In case you hadn’t noticed, corporate profits are up. Most companies don’t even know what to do with the profits they’re already making. Not incidentally, much of those profits have come from replacing jobs with computer software or outsourcing them abroad.

“Meanwhile, the wealthy don’t create jobs, and giving them additional tax cuts won’t bring unemployment down. America’s rich are already garnering a bigger share of American income than they have in eighty years. They’re using much of it to speculate in the stock market. All this has done is drive stock prices higher.”

The Biggest Economic Challenge of Obama’s Second Term

Monday, September 10, 2012

The question at the core of America’s upcoming election isn’t merely whose story most voting Americans believe to be true – Mitt Romney’s claim that the economy is in a stall and Obama’s policies haven’t worked, or Barack Obama’s that it’s slowly mending and his approach is working.

If that were all there was to it, last Friday’s report from the Bureau of Labor Statistics showing the economy added only 96,000 jobs in August – below what’s needed merely to keep up with the growth in the number of eligible workers — would seem to bolster Romney’s claim.

But, of course, congressional Republicans have never even given Obama a chance to try his approach. They’ve blocked everything he’s tried to do – including his proposed Jobs Act that would help state and local governments replace many of the teachers, police officers, social workers, and fire fighters they’ve had to let go over the last several years.

The deeper question is what should be done starting in January to boost a recovery that by anyone’s measure is still anemic. In truth, not even the Jobs Act will be enough.

At the Republican convention in Tampa, Florida, Romney produced Read the rest of this entry »

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How to End This Depression

Posted by Warm Southern Breeze on Sunday, July 29, 2012

It’s been said that ‘everything should be made as simple as possible, but not simpler.’

The distinguished Dr. Krugman – who accurately foretold in 2001 that the “Bush Tax Cuts” would create significant deficit (and they did) – understands the role of government in providing opportunity for entrepreneurs and private enterprise, and the equally important role that government has in responsibility to protect public health and safety.

The long and short of it is this: Government spending on economic infrastructure (including education) is a good investment because it yields significant immediate and long-term results.

Why?

Because Materials and Manpower ALWAYS come from the private sector.

Regular readers of this blog will be familiar with the aforementioned premise, and the numerous times about which I have written in detail about the same. This entry illustrates with three excellent examples of that principle.

Naysayers and critics miss one very important factor in their analogy, which is that the Federal government has the power and authority to print money. The way that factor relates to the issue at hand is this: While the government could – in theory, and in reality – print enough money to give $10,000 to every man, woman and child in this nation the net effect of so doing would be to devalue the money, which would be resulting from inflation.

How to correct, resolve or work within the guidelines of that factor is to understand that one very important role of government is to provide OPPORTUNITY for entrepreneurs and private enterprise. By providing opportunity, government is also encouraging private enterprise and entrepreneurship. And, for the strict Constitutionalists, courts have continued to uphold and acknowledge that such power is contained within the Preamble’s clause “to promote the general welfare.”

Further, for the “anti-Big Government” naysayers, it is preposterous (contrary to reason or common sense; utterly absurd or ridiculous) to imagine that, in this era, with every technological advance, invention and discovery which has been made since 1776, and with our population (now approaching 312,000,000), that we would have fewer laws, rules and regulations than when we first began.

And, for those who say we should balance our budget, I would agree. However, I hasten to point out, that the last time that was done was under Eisenhower and LBJ. That does not excuse us from an ongoing civil discussion and debate about how to effectively manage our nation’s budget. Perhaps a formula of some type which would take into account GDP, debt (outstanding Treasury notes), trade deficit, population growth, birth rate, and other factors – with an “escape” mechanism for times of civil emergency or war, of course.

For such, we need technocrats – experts in areas of operations – rather than bureaucrats. Perhaps in an advisory role. But then again, we have those.

So… why don’t we work together as we ought?

Politics.

It seems that “Everybody’s got something to hide except for me and my monkey.”

How to End This Depression

May 24, 2012

Paul Krugman

The depression we’re in is essentially gratuitous: we don’t need to be suffering so much pain and destroying so many lives. We could end it both more easily and more quickly than anyone imagines—anyone, that is, except those who have actually studied the economics of depressed economies and the historical evidence on how policies work in such economies.
Obama in Master Lock factory Milwaukee

President Obama on a tour of the Master Lockfactory in Milwaukee with the company’s senior vice-president, Bon Rice, February 2012; Susan Walsh/AP Images

The truth is that recovery would be almost ridiculously easy to achieve: all we need is to reverse the austerity policies of the past couple of years and temporarily boost spending. Never mind all the talk of how we have a long-run problem that can’t have a short-run solution—this may sound sophisticated, but it isn’t. With a boost in spending, we could be back to more or less full employment faster than anyone imagines.

But don’t we have to worry about long-run budget deficits? Keynes wrote that “the boom, not the slump, is the time for austerity.” Now, as I argue in my forthcoming book*—and show later in the data discussed in this article—is the time for the government to spend more until the private sector is ready to carry the economy forward again. At that point, the US would be in a far better position to deal with deficits, entitlements, and the costs of financing them.

Meanwhile, the strong measures that would all go a long way toward lifting us out of this depression should include, among other policies, increased federal aid to state and local governments, which would restore the jobs of many public employees; a more aggressive approach by the Federal Reserve to quantitative easing (that is, purchasing bonds in an attempt to reduce long-term interest rates); and less timid efforts by the Obama administration to reduce homeowner debt.

But some readers will wonder, isn’t a recovery program along the lines I’ve described just out of the question as a political matter? And isn’t advocating such a program a waste of time? My answers to these two questions are: not necessarily, and definitely not. The chances of a real turn in policy, away from the austerity mania of the last few years and toward a renewed focus on job creation, are much better than conventional wisdom would have you believe. And recent experience also teaches us a crucial political lesson: Read the rest of this entry »

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More evidence that Government $pending boo$t$ economy

Posted by Warm Southern Breeze on Thursday, July 26, 2012

Recollect the brouhaha over Vice President Joe Biden‘s remark Thursday, July 16, 2009 in Alexandria, Virginia?

He was speaking at an AARP-sponsored town hall meeting also attended by AARP CEO A. Barry Rand, Health and Human Services Secretary Kathleen Sebelius and Nancy Ann DeParle, Director of the White House Office of Health Reform.

Vice President Biden said, “Now people, when I say that, look at me and say, ‘What are you talking about, Joe? You’re telling me we have to go spend money to keep from going bankrupt?’ The answer is ‘yes,’ that’s what I’m telling you.”

{ref: http://cnsnews.com/node/51162}

“And folks look, AARP knows – and the people with me here today know, the president knows, and I know – that the status quo is simply not acceptable. Its totally unacceptable. And its completely unsustainable. Even if we wanted to keep it the way we have it now. It can’t do it financially, Were going to go bankrupt as a nation. Now, people when I say that look at me and say, ‘What are you talking about, Joe? You’re telling me we have to go spend money to keep from going bankrupt?’ The answer is ‘yes,’ I’m telling you.”

Of course, Vice President Biden was speaking in context of the Affordable Care Act – also commonly known as “ObamaCare” – which the Government Accountability Office has shown has already demonstrated significant cost savings and proven to be business-stimulating legislation, and that to eliminate it’s protections would cost the federal government even more in the long-term.

Analogously, it’d be like having a fuel inefficient automobile – one that only got about 5 miles/gallon, or less. If you were to purchase even a used vehicle with twice the fuel economy – 10mpg – you could realize significant overall long-term savings. Simply ceasing driving will not solve any problem, but would rather create more problems.

Similarly, could you imagine having an inefficient Heating/Ventilation & Air Conditioning (HVAC) system? You gotta’ stay cool in the summer and warm in the winter – there’s no way around it. And to lower your average monthly utility bills by even 1/3 would be beneficial.

So, here’s a shocker for armchair philosophers, political pundits, amateur economists, Radical Republicans, TEA Party types and more: Government spending – in part – is a significant driver of our nation’s economy. And, spending on economic infrastructure is ALWAYS a most wise investment.

Why?

Because 1.) Materials and Manpower ALWAYS come from the PRIVATE SECTOR, and; Read the rest of this entry »

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Weather Extremes Not Just in United States

Posted by Warm Southern Breeze on Sunday, July 8, 2012

Here is Wisdom.

(Either that, or pragmatism.)

If there is nothing humans can to to lessen the severity or frequency of these, and other extreme weather events, then the very least that should be done is to significantly improve infrastructure to more effectively manage them, and to mitigate potential for damage.

And that is spelled I – N – F – R – A – S – T – R – U – C – T – U – R – E.

What’s “infrastructure”?

A definition of infrastructure from the New Oxford American Dictionary: “the basic physical and Read the rest of this entry »

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