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  • scottzzz 6:58 am on 2011-02-03 Permalink | Reply
    Tags: Fed, , ZH   

    After Trillions Pumped into the Top of the Pyramid, Why is Unemployment Still So High? 

    via zerohedge.com, Tyler Durden:

    Ron Paul has announced that the first Monetary Policy subcommittee meeting will focus on one of those two now forgotten Fed mandates, that of creating jobs. “I’m very pleased to hold our first subcommittee hearing in the new Congress on a topic that could not be more critical, namely unemployment. Despite enormous amounts of monetary and credit expansion by the Federal Reserve in recent years, the nation’s unemployment picture remains bleak. While many focus on the impact of fiscal policies on employment, the effect of monetary policy often goes unexamined. In my view we are now experiencing the bust that inevitably results from the misallocation of capital and human resources in a period of artificially cheap credit. It is important to understand the Federal Reserve’s role in creating today’s unemployment crisis, while also highlighting that high unemployment and low economic growth can persist even in the face of tremendous monetary inflation.”

    http://www.zerohedge.com/article/ron-paul-ask-fed-why-after-trillions-free-money-unemployment-still-sky-high

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  • scottzzz 6:52 pm on 2011-02-02 Permalink | Reply
    Tags: ZH   

    http://www.zerohedge.com/article/tale-outright-fraud-ex-member-citis-corporate-derivatives-team

     
    • scott4mayor 6:57 pm on 2011-02-02 Permalink | Reply

      “Zero Hedge has long claimed that the best stories of Wall Street fraud and corruption come from disenchanted former insiders of the very firms that in 2010 were paid a record $135 billion in compensation.”

      • rob 7:04 pm on 2011-02-02 Permalink | Reply

        the thing that we forget is that there are other forms of currency which have value, and that the form of currency we embrace does not. We should expect to see, and foster the growth of, currencies that are not based on the status quo, have a redeemable value, and outmode the wealth of those in ‘power’ by devaluing that particular dollar which they have alot of and many have little.

        • scott4mayor 7:47 pm on 2011-02-02 Permalink | Reply

          I think we could do something like that at the local level by monetizing social energy–setting aside funds that would allow those who give their time and energy can be reimbursed with credit that may be spent at local businesses, then redeemed by the city. Perhaps this is also a hint at what the City can do to facilitate recycling and bulk hauling and the like.

          • rob 8:22 pm on 2011-02-02 Permalink | Reply

            that’s the general idea, and certainly encourages participation. basically, dollars ARE karma points in one respect or another, except that one receives them for both good and bad karma.

            I personally don’t care about recycling. It’s a sort of automatic thing where if you participate you can get paid. The city might get revenue from making the service more convenient, but that’s really for well established folks and most of them are not going to care about it unless it inconveniences them.

            I would think about things of this nature from the bottom up, and how to help people who have no options or limited options… These points should basically help someone to get things back together if they couldn’t.

            The key to all of it of course is that a person has to somewhat want to help themselves, the obstacle to all of it is that even the simplest job has some barriers to entry.

            What does it really take to get someone ‘off the streets and into society’? Assuming that’s ‘desirable’ to one or all, here’s the deal…

            First thing a homeless guy is going to need is solid clothes, shower, haircut, and the basics of grooming. So… warm up the local DAV which has TONS of decent clothes at low prices. Not the best, but I have some suits I bought for 10 bucks there that are actually top notch.

            Some form of credit to the hair salon that gets him a haircut. A facility where these ‘Clean Credits’ could be traded for a shower. Toothbrush and whatever else in some form of care pack could easily be gotten at a store.
            Dental is going to be a major problem for anyone out there on the streets too.

            Living on the street means either driving a shopping cart or only having what you can carry. So… somehow you’re going to want to set up some form of locker or something, and that’s a service that will need to be managed.

            hmm a couple phone calls threw me off. I think you get the basic jist. the community makes an effort to help the downtrodden, the community gets points, redeemable for xboxes or business expansion or political power in some form or good samaritan credit. that’s how it ought to be.

            dollars are a top down currency for the elite. clean credits are a bottom up currency, for the average joe.

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