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Shins said:
interesting.  consumption is part of the sum of gross domestic product?

You would think that GDP would be the sum of all the domestic products ergo goods and services.

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It is.

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Shins said:
What about the trade debt, medicare, social security,

let's get a chart for that!

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Those are all part of government expenditures.

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6. interest rates; on the topic of interest rates, who thinks its better to;

a. have a central bank fix the price of money (price fixing

or

b. let the market set the rate (market determination)


7. If you're for the fed,  you're supporting price fixing.  do you think price fixing is good economics?

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meams said:

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zorbman said:
There is a certain conformity or orthodoxy in most professions which eventually leads to group think. The field of economics is no exception.

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QFT.

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I am glad you recognize the risks.

It is a dangerous situation. Those who are supposed to be warning society about a paradigm shift could be trapped in a bubble they cannot see out of.

It seems our civilization has become so complex that there are precious few individuals capable of seeing the big picture..they are only seeing parts which they mistake for the whole. They are mired in their own disciplines disconnected from the macro-environment.

Who's minding the General Store?

Hmm.

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meams said:
Whateverrrrrrrrrrr

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1.  You joke about gold,  but a gold standard is one of the best ways of preventing too large of a government and government over-spending, that's why it's in the constitution.

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Section 10 - Powers prohibited of States

No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.

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Section 8 - Powers of Congress

The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;

To borrow money on the credit of the United States;

To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes;

To establish an uniform Rule of Naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States;

To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures

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zorbman said:

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meams said:
Whateverrrrrrrrrrr

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Thanks for the thoughtful response.

Real thinking is hard stuff, eh?

I'm beginning to see why so many people are ignoring you.

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  Maybe you should make that list a little longer.  It'd save me some time.