Tag: #economy

  • Shopping Doesn’t Solve All Problems

    I know that I am writing this on Cyber-Monday, and full disclosure, I have purchased an item on Amazon for my daughter. Our Christmas shopping is almost done, and the wife and I are taking advantage of the sales. These purchases are just little add on’s, and we are staying within budget. We’re being good and responsible.

    But I bring up this “shopping” observation not to shit on capitalism or commercialism. I am saying “shopping doesn’t solve all problem” because this past Sunday, on the morning political shows, pundits, on both sides, were saying that the way out of our national problems is for “normal people” to just “go shopping.”

    I’m sorry, but that answer, that America should just go shopping to solve all its problems, has be thrown around for at least twenty-one years, and it hasn’t solved anything. After 9/11, Bush said we should all go shopping. The Great Recession, Obama said go shopping. The Pandemic, Trump said go shopping. Now with supply chain issues, again they all say go shopping.

    During the Great Depression, FDR wasn’t telling America to shop their way out it.

    How did we get to the point where people spending money on things, which they don’t need, was the answer to everything?

    Buying a tv doesn’t make rents affordable. A new iPad doesn’t lower health care costs. A new coat won’t make your productivity match your compensation.

    Shopping only keeps things the way they are; basically, treading water. There are systemic issues that have been building in our national economy for the past forty years, and a robust Holiday shopping season won’t solve it.

    So, when I hear a pundit say that we should shop more to get the economy going, then that person is an idiot going for the sound bite, and not a real answer.

  • Cyber Attacks are the New Privateers

    I am sure that you have seen in the news, if not been personally affected by the recent cyber-attacks on the Colonial Pipeline and the JBS Meat plants. Biden is in Europe getting our allies’ support in confronting Putin over this, as most of the hackers are based in Russia, if not Russian. Cyber-attacks, or ransomware, has been going on for a while. I think Gray’s Anatomy did an episode on it, and the company my brother used to work for got hacked, and ransomed. I don’t think its hyperbole when the Director of the FBI and CIA say that these hacks are a national threat to our security and economy.

    But when people, especially politicians, say that the world has never seen attacks on nations like this before; I disagree.

    What I think of is the Age of Privateers, or as it is also known, The Age of Pirates, which roughly was about 1600 to the 1856, when the Declaration of Paris outlawed the practice of privateering. In case you don’t know, a privateer is a private person or ship that engages in maritime warfare under a commission of war (Thank you, Wikipedia). In practice, it was legalized piracy, provided that the pirates didn’t attack the government that legalized them. Privateering was meant to disrupt trade routes and economically hurt a nation. If you hurt your enemy in the wallet, and make the delivery of good difficult, then you have a leg up on them in war.

    That’s what I see nations, like Russia, doing today, allowing pirates to have safe havens in their borders to wreak havoc, as long as those pirates go after Russia’s enemies. The hackers are taking money from local governments and business, and also showing the weaknesses in America’s cyber infrastructure.

    What I am waiting to see is if; one, world nations sign a new Declaration of Paris that outlaws giving safe harbor to cyber criminals, or two, cyber criminals turn on their host nations, just like the privateers did. There is a reason why privateers become pirates – if you are willing to steal from one country, you can steal from all of them.

  • ODDS and ENDS – A-Holes, WWE or MMA, Make the Call, and Parking

    “Odds and Ends” is my continuing series of random thoughts and follow ups…

    I know that I am not the first person to say this, or even the best at articulating this sentiment, but we all agree that people who recline their seat on an airplane are assholes. No one likes the people who do it, and if you are a person who reclines your seat, we all hate you; You should know that. (Really? Does the two inches of reclining make that much of a difference?) But I started wondering why the airlines leave that function on the seat? Is there a torture quotient that they need to fill for Coach? Sorry, Economy. Was there a meeting where airline Executives brainstormed ideas that would lead to more fights on flights?

    “Fights on Flights” sounds a WWE event. Or MMA. You make the call on that.

     “You Make the Call” commercials had the best music. Manly, sports music.

    So, I tried to explain parking in New York to someone who does live in here. What I discovered is that I sound crazy, like I have accepted Thunderdome as a way of life, and that’s normal way to live.

    And finally, we are going hiking again this weekend. We haven’t decided where, but the Summer of hiking continues.  

  • A Crack in Trump’s Support?

    I am still having trouble coming to terms with how awful that debate was on Tuesday. I keep rereading articles, looking at polling data, and watching clips of the awful performance by Trump. Even on Wednesday, Trump still couldn’t find a way to come out and denounce white supremacist groups during “Chopper Talk.”

    I have observed that most hardcore Conservatives and Republicans have no issue with how Trump behaved, and even in some comments, they even have applauded it. That, I sort of expected. The other thing I noticed on social media, which might be more telling, was that my Conservative and Republican friends have gone silent about the debate. I would refer to them as moderate conservatives; taxes and abortion are their biggest issues but they don’t delve into conspiracy theories. They are posting about issues, and not posting about Trump as a leader. Such as, “We got to get people back to work to save the economy,” rather than, “Trump is the only person who can save this economy…”

    I admit that this observation is completely anecdotal, and not supported by scientific polling or any data. It’s just a feeling. And my gut tells me moderate conservatives are beginning to rethink Trump. Maybe not voting for Biden, but maybe thinking about not voting.

  • Morality in Economics

    I read David Brooks today, and call me crazy, I think that this conservative guy is slowly becoming liberal. I will thank Trump for that, but more importantly, I welcome David to the party.

    I took the point of his piece, which was that America business needs to get its morality back in check. Think about employees, customers, and the communities they exist in, and not just the bottom line, shareholders, and stock value.

    Is this the first crack in the Conservative love of all things that came out of Milton Friedman’s mouth?

    I have held, and said many times, that Friedman’s approach and the way he viewed capitalism was destructive to all of us. I always felt that Friedman’s failure was rooted in the idea that an individual or corporation would “pay by the rules” in their quest for capital, and no one would cheat. The truth of the matter is that if there is money to be made, someone, inevitably will cheat, and someone gets hurt.

    Also, Friedman thought that governments should get out of the way and let companies do what they do. He thought all companies would want deregulation, but what he missed was that companies want regulation on everyone else, just not them. That’s why there is a weird revolving door with CEOs and executives getting named as heads of regulation organizations. (FCC, FDA, ect…)

    In a philosophical sense, I believe that all economics are based in emotions and not in logic. Economies are not math, it is not a science; it is completely man made, and as such, will behave illogically often to meet its desired ends. To put a morality on top of capitalism is a neat idea, and to do that, you need some agreed upon regulations.

    Welcome to the party, David.