OT: James Arthur, the perfect market and the perfect op amp

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Sorry John, it is a simple sleigh-of-hand right-wing sound-bite. James Arthur has - deliberately - confused the separate and independent targets of getting the economy out of recession, and growing the economy once you've got it out of recession.

In a recession pump-priming money spent on food stamps and unemployment insurance is particularly effective because it goes to the poor who can be relied on to spend all of it.

Once the economy is out of recession, and there are jobs to be had, you don't have to pay out as much unemployment insurance or dish out as many food stamps, and it's worth your while to try and get even the less employable into some kind of job.

You failed to spot the deliberate equation of apples and pears.

This isn't New Math - just Tea Party propaganda, in the Karl Rove style.

-- Bill Sloman, Nijmegen

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-- Bill Sloman, Nijmegen

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But not - you'll note - by James Arthur's though they are pretty simple and transparent.=A0

Few of them share James Arthur's and John Larkin's mutual delusion that John Maynard Keynes was a "goofy theoretician" whose insights had no relation to reality.

The objective observer might try to estimate the probablity that 98% of economist might have got it wrong, as against the probability that two right-wing nitwits might be allowing their political prejudices to over-ride their - demonstrably feeble - grasp of reality.

-- Bill Sloman, Nijmegen

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Whaddya mean? The USB 2.0 master specification sans collateral documents is a mere 650 pages.

It is only going to get worse.

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I just go to FedEx to get stuff printed for maybe 10 cents a page, double sided. But I don't do much printing. They also have the best Sony photo printers at 39 cents a print for 4X6.

-Bill

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What blather. I bet none of these theorists ever had a real job.

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So, if Bush managed to stimulate the economy and create a bubble with tax cuts, why can't Obama do the same? We could use another bubble about now.

Maybe Rick Perry (another governor from Texas) will bail us out after the next election?

-Bill

I'm talking about __all__ of the seminal parts. Plus, I'm thinking about 3.0.

Yeah. What I'd like to see is a blanket legal statement put in the public domain by ALL of the electronics firms regarding their datasheets providing unequivocal legal rights to ANYONE to print their datasheets. That way I can simply go to Lulu or Amazon and just tell them "print that bastard for me" without getting a free argument which I don't want.

Jon

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Addition and subtraction is partisan? I hadn't considered that. Adding up the revenue and expenses directly off the financials -- the Monthly Treasury Statements -- was my very first impulse, second nature -- yet it's clearly all one giant mystery to you.

I'll walk you through it.

Here's the latest issue:

o The Social Security outlays are in Table 5, page 17. $50B monthly for basics, $11B for disability. o Debt service (the amount needed to avoid default) was $27B, Table

5, near the bottom of page 14. o Total receipts were just $166B, a slack month. Summer vacation and all, you know. (Table 4, bottom of pg. 6)

So, they 1. received $166B, and 2. needed only about $89B to a) not default and b) pay SS, and still had 3. $77B in spending / mad money left over.

Oh dear, was that partisan? Maybe you're right. I suppose I should've let some poly sci major predigest it for me on the Daily Kos.

-- Cheers, James Arthur

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Splendidly non-specific. Which theorists did you have in mind? And what would count as "a real job".

I imagine the being a university professor wouldn't satisfy your rather restricted idea of what constitutes "a real job". It isn't as if you value what universities do for their better students, and signally failed to do for you.

-- Bill Sloman, Nijmegen

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The macroeconomists. And a real job is one that produces something useful. You wouldn't understand.

My BSEE from Tulane seems to be working a lot better for me than you PhD from wherever.

John

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Your partisan habits show up in what you chose to add and subtract.

You don't consider much that isn't conveniently aligned with your political prejudices.

There no mystery in it. Your implicit assumption was that your psychotic friends in the Tea Party couldn't find a way of messing up the neat arithmetic that ought to guarantee the the SS cheques get paid. People who didn't share your positive opinion of the politicians involved had no idea how far their relentless pursuit of electoral advantage would take them - they certainly didn't hesitate to behave badly enough to get Standard and Poor's to down-grade the US credit rating.

As usual, you choose to miss the point. The risk to the SS checks should have been minmal, but the Tea Party niwits were grandstanding in a thoroughly irresponsible manner, and Barack Obama had legitimate anxieties about precisely how far they might go - anxieties that you aren't likely to share, since you think that the sun shines out of the seats of their trousers, and that's why your pontiifcations on the subject are more than a little partisan.

-- Bill Sloman, Nijmegen

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That's not what I said - as I pointed out later in my post, in the part that you snipped without marking the snip - the bubble came later. Bush's tax cuts may have raised house prices, but it wasn't a dramatic rise and can't be described as a bubble. The bubble was blown up - and burst - by the ninja bank loans which didn't get going until a few year later.

Since he is a Republican - these days - the chances are vanishingly small. The simple rule is that Republicans screw up the economy, and the Democrats glue it back together, usually accompagnied by a Republican chorus that is busilyy claiming that they doing it wrong by failing to starve enough widows and orphans.

-- Bill Sloman, Nijmegen

"An economist is someone who sees something that works in practice and wonders if it would work in theory." --R. Reagan

James

Was that said during his first term - when his Alzheimers was merely incipient - or during his second term where it was definitely perceptible?

-- Bill Sloman, Nijmegen

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That's what it looks like to you. Your BSEE from Tulane does seem to have complemented your congenital enthusiasm for doing electronics, but it doesn't seem to have educated you much about anything else.

My Ph.D. in Chemistry didn't involve my sitting through many lectures on electronics - though there were a couple - but it did teach me how to mine the university library for useful information whenever I had a problem to solve, and that let me learn enough about electronics to allow me to subsequently make a a career in the business (despite my lack of formal qualifications in the area). Since I've got a couple of electronics patents - and you haven't - our skills in electronics would seem to be of the same order (not that I've got a lot of respect for the patent-granting process).

Your skills in finding about stuff outside of electronics are negligible, and if Tulane had been able to get your attention and give you some idea of what libaries were good for, your head might not now be quite so thoroughly contaminated with the nonsense that you persist in spreading around here.

There is the problem that you have an exaggerated idea of your own competence, which means that once some daft idea has got into your head, you can't really conceive that it's wrong. University teaching - if it is done right - can instill the kind of self-critical attitude that could have helped here.

-- Bill Sloman, Nijmegen

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I learned a lot in a bunch of other classes: physics, psychology, economics, materials science, thermo, engineering drawing, and especially beginners tumbling.

Chemistry and English were annoying wastes of time. I took advanced math courses, ditto.

John

Nice ramble. You've got no point. He had the money. He said otherwise.

What could a few citizens concerned about Barack's spending--and who support SS generally--possibly have done to affect August's checks in any way? What? Was he afraid the Tea Party would spirit the binary bits out of the Treasury's computer, put them in a knapsack of savings and vanish into the night?

Enlighten us Bill.

-- Cheers, James Arthur

English was one of the best courses I took. I had a genius professor. Taught me lots about analyzing prose, i.e., distilling messy stuff into clear thought, extracting inferences and implications.

I'm still learning brevity--that's harder. It takes a lot of blabber to distill a Sloman. It shouldn't. Like above--basically, the President lied, and Sloman doesn't care. He admires it, thinks it's skillful politics. That's what it boils down to.

-- Cheers, James Arthur