(A Savage Thought) It’s Called Trickle Up Economics

( I first posted this in September of 2009, before COVID-19, Before Hillary/Trump, or before today. Welcome to May 12, of 2020.)

 September 2009      (This post is an Economics History Lesson revisited from 9 years ago. You see, it is my belief that government should have just infused $2.6 Trillion into the working class and those even poorer. These people would then go straight out and buy items they need and many would also pay off Bank Notes with a true insurgence of spendable cash to the masses. All viable businesses big and small would profit well this way plus it would put a jolt to production/jobs. I believe that what is needed in all Nations on Earth is for the poor to be getting the stimulus packages, the poor would then fund the global business machines that feed the whole world. I do honestly believe that this is viable.)

 

    These days we are again hearing the old term in politics that I first heard from the Reagan era, people in Washington call it the Trickle Down Theory. The concept is being practiced by both parties, though they would probably deny it. Today these people tend to use the words “Stimulus Package”. If you remember, We tried this approach shortly before he (George W. Bush) got out of office. Then came Mr. Obama, he tried his own version of a stimulus package, bailing out the banks and Wall Street, the very people who caused almost all of the problems in the first place. The idea of this scam was to strengthen our country’s financial base from the top down. You see, neither party “get’s it”, you give the top one percent all the financial means and they just hold onto it. I have a question for you, how many of We The People have been able to get a loan, for personal or for small or medium size businesses since the banks got “our” money handed to them? Do you remember just a couple of years ago Mr. Obama was caught on camera at some conference table filled with his cronies and he said in reference to his stimulus package, “I guess that the country wasn’t as shovel ready as we had thought” and he and his cronies had a good laugh about it.

    Now Mr. Obama is prancing out another stimulus package under the cloak of it creating jobs in our country for our people. Odd isn’t it, the things these politicians try just before an election season fires up? Mr. Obama, and the Congress should have taken the other stimulus package a couple of years ago and put Americans to work then. I am a long haul truck driver by trade, a person sees and hears many things as we go around the country from the people and the local radio stations. Our nation’s roads and bridges are in lousy condition all over the country. Most all of our big cities are completely falling apart, above ground and below them. If the stimulus money from the past had been used to rebuild our country from the inside, which would have put many people to work all over our country. As you go around the country you see things like all these oil wells that are capped, even in the oil fields of West Texas. We have found lots of oil in Wyoming and the Dakotas, but as soon as they are drilled, there capped. You see, this country doesn’t have enough refineries to produce the products and we don’t have anywhere near enough storage facilities to store all the oil we already have here in our own country. These days we hear a lot about clean coal technologies and that we are the Saudi Arabia of Natural gas. Why are we selling oil abroad? People, why are we giving billions to people who use that money to finance means to kill all of us?

    Here is the simple economics behind this writing, if the money had been given out through work programs, the people of America would have been working several years ago, on good full-time jobs for good pay. Then the people would not have been losing their homes. People would have been able to have purchasing power which would have stimulated our economy putting even more people back to work. If this had happened, the Banks would have had earned a lot of money from the bottom up and the governments at all levels would have been reaping the benefits of increased tax revenue which would have keep our civil servants employed. What our country needs are politicians who are able to realize that there is nothing wrong if the bottom 99% have 95% of the money going through their hands. Then the top 1% of the population would still be getting about 5%, this would still make that small and very important group of people very, very wealthy. They are very important because they are the risk takers who have the ability to create many of our nation’s jobs, these people must be well compensated, five for one is very nice compensation.  Friends, this is what I call, Trickle Up Economics.

 

                                                                                  Thank you for your time,

                                                                                  oldpoet56

 

(A Savage Comment) Time For A World-Wide Financial “DO OVER”

Time For A World-Wide Financial “DO OVER”

 

At first I was thinking of this “Event” on a wide and broad scope, every person on Earth start at zero on the debt chart. But, and a big one, I am not an Economists even though I did study some Business and Economics classes in college. I realize that when you factor in the reality that I don’t know everything about everything that I could possibly be wrong. This note to you today is simply to get folks whom are a lot smarter than me, to start considering what I am suggesting, to see if it could possibly be viable Constitutionally and economically.

 

I know that this is a “broad” idea so I decided to pull the strings in a bit. How about this “Do Over” only being on a “World” Federal level? How about if a World Wide Do Over was designed to only eliminating all Federal Government debt that any and all Nations have with another Nation? Think about it for a moment please, no “Third World” Nation having any debt to any other Nation. No Nation owing the U.S. anything and having a new Zero balance sheet with all of the World’s rich and powerful Nations. Would this concept help the Third World Nations graduate into at least a “Second World Nation?” O yes, don’t forget that debts that the Big Nations have with each other would also be wiped clean like Russian and U.S. debt to China. Also all of China’s small neighboring countries who find themselves buried in debt to China from such “gifts” as the new Silk-Road.

 

It would be great if a program could be written where no one on Earth owed anyone anything, a total start over. We as a Human Race have yet to understand the value of caring about one another. Until we can do this first part about the Nations getting their books up to the zero mark I don’t believe that there will be any stringent efforts being put into programs to help the two legged Rats and Roaches (the Poor)! As a very dear friend of mine used to say “we shall see what we shall see.”

(A Savage Comment) When Life Starts Again: Should The Whole World Reset At “O”?

( When Life Starts Again: Should The Whole World Reset At “O”?)

 

Lets start off with the fact that I am not an Economists and this heading is simply a question that formed in my mind. Is this a question that has merit enough to be seriously looked at? If the shutdown does in deed last till September first and the post COVID-19 comes out of its womb fresh at that time, how about it if no one, no company, no Government in the whole world, no one, owed any debt? Why not have a fresh new world and then try not to screw up this second one? It is true that some people, some groups, some businesses and some Governments are going to come out negative on some of their balance sheets. Yet on the other hand, all of their debts are forgiven, this should in the long run come pretty close to evening out a new fairer nicer world order. Well, at least this is my thought on the issue. What is your thoughts, would this work?

Taking out his iPad, PM Modi made on the spot trade presentation to Trump

(THIS ARTICLE IS COURTESY OF THE TIMES OF INDIA)

 

Taking out his iPad, PM Modi made on the spot trade presentation to Trump

According to those present at Hyderabad House, PM Modi took upon himself to remove the misgivings of US President Donald Trump that India was treating his country unfairly with little effort being made to address an adverse trade deficit.

INDIA Updated: Feb 28, 2020 12:57 IST

Shishir Gupta
Shishir Gupta
Hindustan Times, New Delhi
Prime Minister Narendra Modi speaks to US President Donald Trump during a meeting at Hyderabad House in New Delhi.
Prime Minister Narendra Modi speaks to US President Donald Trump during a meeting at Hyderabad House in New Delhi.(REUTERS)

Prime Minister Narendra Modi used his favorite gadget, an iPad to make an impromptu presentation to US President Donald Trump on Tuesday at Hyderabad House in an effort to dispel all misgivings on bilateral trade with India. He also used a time-window before lunch was served at Hyderabad House to explain both the Citizenship Amendment Act and the nullification of Article 370 of the Constitution to the satisfaction of the US president.

Trade is one of the big outstanding issues between the two countries, which couldn’t agree on a widely anticipated trade deal that was expected to be signed during this visit. However, both say they are working on a larger deal.

According to those present at Hyderabad House, PM Modi took upon himself to remove the misgivings of US President Donald Trump that India was treating his country unfairly with little effort being made to address an adverse trade deficit.

Watch what Donald Trump said on CAA debate, Pakistan terror, at Delhi briefing

It is learnt that PM Modi took out his iPad and showed President Trump what India had done during his tenure to reduce the trade deficit from $31 billion in 2014 to $24.2 billion in 2018—a decline a 22% over four years. PM Modi also showed that India’s hydrocarbon imports from the US went from zero in 2013 to $9 billion now and likely to reach $12 billion by the end of the year, with the US exporting oil, coal and liquefied natural gas to India.

He revealed that Indian students in US were contributing nearly $ 6 billion each year to the American treasury by spending dollars in education. PM Modi then pointed out to the growing military hardware imports to India during President Trump’s tenure with more multi-billion dollar defense deals in the pipeline. India is buying $3 billion worth of helicopters this year, for instance. President Trump indicated to PM Modi that his country is willing to supply any top-of-the-line defense equipment including armed drones and fighters to India and that New Delhi was free to buy from anyone provided that the equipment was better in comparison to American hardware. Both PM Modi and President Trump spoke about bilateral trade in comments to media at Hyderabad House.

On CAA, PM Modi explained to the US president that the proportion of those belonging to minority communities in Pakistan and other Muslim nations in India’s neighborhood, including Christians, has fallen and that the law is aimed only at providing security and dignity to those mistreated in the neighborhood. He explained that CAA was not aimed at depriving any one of citizenship rights, the people present during the meeting said.

On the issue of J&K, Modi explained how despite all his efforts, Pakistan was targeting India through terrorists, the people added.

Interestingly, even as Modi pointed out the security challenges that India faces from Pakistan, President Trump repeated his willingness to mediate between the two estranged neighbors, the people said. According to them, PM Modi heard out President Trump.

China: Xi says phase-one China-US trade deal benefits both sides, world

(THIS ARTICLE IS COURTESY OF SHANGHAI CHINA’S ‘SHINE’ NEWS NETWORK)

 

Xi says phase-one China-US trade deal benefits both sides, world

Xinhua

The phase-one economic and trade deal between China and the United States benefits both sides and the whole world, Chinese President Xi Jinping said on Friday.

In a phone conversation with his US counterpart, Donald Trump, Xi noted that the two countries have reached the phase-one agreement on the basis of the principle of equality and mutual respect.

Against the backdrop of an extremely complicated international environment, the agreement benefits China, the United States, as well as peace and prosperity of the whole world, Xi said.

For his part, Trump said that the phase-one economic and trade agreement reached between China and the United States is good for the two countries and the whole world.

Noting that both countries’ markets and the world have responded very positively to the agreement, Trump said that the United States is willing to maintain close communication with China and strive for the signing and implementation of the agreement at an early date.

Xi stressed that the economic and trade cooperation between China and the United States has made significant contributions to the stability and development of China-US relations and the advancement of the world economy.

Modern economy and modern technologies have integrated the world as a whole, thus making the interests of China and the United States more intertwined with each other, Xi said, adding that the two sides will experience some differences in cooperation.

As long as both sides keep holding the mainstream of China-US economic and trade cooperation featuring mutual benefits and win-win outcomes, and always respect each other’s national dignity, sovereignty and core interests, they will overcome difficulties on the way of progress, and push forward their economic and trade relations under the new historical conditions, so as to benefit the two countries and peoples, Xi said.

China expresses serious concerns over the US side’s recent negative words and actions on issues related to China’s Taiwan, Hong Kong, Xinjiang and Tibet, Xi said.

He noted that the US behaviors have interfered in China’s internal affairs and harmed China’s interests, which is detrimental to the mutual trust and bilateral cooperation.

China hopes that the United States will seriously implement the important consensuses reached by the two leaders over various meetings and phone conversations, pay high attention and attach great importance to China’s concerns, and prevent bilateral relations and important agendas from being disturbed, Xi said.

Trump said he is looking forward to maintaining regular communication with Xi by various means, adding he is confident that both countries can properly handle differences, and US-China relations can maintain smooth development.

Xi said he is willing to maintain contacts with Trump by various means, exchange views over bilateral relations and international affairs, and jointly promote China-US relations on the basis of coordination, cooperation and stability.

The two heads of state also exchanged views on the situation of the Korean Peninsula. Xi stressed that it is imperative to stick to the general direction of a political settlement, saying all parties should meet each other halfway, and maintain dialogue and momentum for the mitigation of the situation, which is in the common interests of all.

Egypt Govt Pledges Not to Dismiss Public Sector Employees

(THIS ARTICLE IS COURTESY OF THE SAUDI NEWS AGENCY ASHARQ AL-AWSAT)

 

Egypt Govt Pledges Not to Dismiss Public Sector Employees

Saturday, 14 December, 2019 – 12:30
Egyptian President Abdel Fattah El Sisi (Reuters)
Cairo- Waleed Abdurrahman
The Egyptian government stressed on Friday that it has no intention to dismiss any state employees after moving to the new administrative capital.

It affirmed seeking to maintain all employees’ rights along with developing and raising the efficiency of the state’s administrative apparatus and staff.

The government said it has “monitored reports on some websites and social media pages about its intention to forcibly dismiss three million employees of the state’s administrative apparatus in line with moving to the new capital.”

Notably, the government plans to relocate its ministries and employees to the new capital, where they will start operating by mid-2020. While investors have started building residential and educational neighborhoods.

This step aims at improving and upgrading the quality of services provided to citizens.

In January 2018, Egyptian President Abdel Fattah El Sisi inaugurated the largest mosque and church in the administrative capital.

According to the cabinet’s Media Center, the government seeks to improve the performance of the state’s administrative apparatus, while paying special attention to the human component by designing training programs for workers in this sector.

Its step targets preparing cadres capable of managing the process of institutional change in order to build an efficient and effective administrative apparatus that applies the standards of governance and corresponds with Egypt’s Vision 2030.”

Egyptian government spokesman Nader Saad noted in November that there are several ways for employees to reach the new administrative capital, as the cabinet has been studying options for bringing employees to the capital, either by contracting with transportation companies or by paying cash for transportation costs.

During a meeting with Prime Minister Mustafa Madbouly in June, Sisi called for “commitment to the decided plans for construction work in the new administrative capital and the speedy completion of the main and internal road hubs and site coordination work.”

Meanwhile, the government denied Friday news circulated on its intention to privatize the “Real Estate Registration and Documentation Authority” due to its inability to automate its services.

The Ministry of Justice confirmed that the Authority will remain an official government agency that serves all citizens.

It added that the authority offices’ automation is carried successfully, with the aim of improving the level of services provided in a way that contributes to facilitating procedures for citizens.

Saudi-Chinese Talks to Discuss Linking Arabian Gulf with Red Sea

(THIS ARTICLE IS COURTESY OF THE SAUDI NEWS AGENCY ASHARQ AL-AWSAT)

 

Saudi-Chinese Talks to Discuss Linking Arabian Gulf with Red Sea

Friday, 13 December, 2019 – 11:15
Riyadh – Asharq Al-Awsat
The Saudi Ministry of Transport has revealed that talks are underway with a company owned by the Chinese government to discuss linking the Arabian Gulf and the Red Sea through Saudi lands.

It is part of a giant project the Kingdom seeks implementing as part of its strategic plans in transport and logistics.

Saudi Arabia plans to launch public-private partnership (PPP) transport projects worth tens of billions of dollars in 2020, under an ambitious strategy to diversify the economy and create jobs, the newly appointed transport minister told Reuters.

To reduce dependence on oil revenues, Riyadh aims to have the private sector operate much of its transport infrastructure, including airports and sea ports, with the government keeping a role as regulator.

The government expects real economic growth of 2.3 percent next year, supported by non-oil sectors.

“Saudi Arabia has an impressive transportation and logistics infrastructure, where about SAR400 billion ($106.7 billion) have been invested in the last 10 years only,” Minister Saleh bin Nasser al-Jasser noted.

He explained that the plan is to continue investing while increasing private sector participation.

The ministry is also planning a railway project linking Dammam in the Eastern Province to the Red Sea city of Jeddah through the capital, he was quoted as saying.

“The funding will come through the private sector, either through PPP or government-to-government…these are big projects worth tens of billions of riyals.”

Riyadh has set a goal of generating SAR35 billion to 40 billion ($9.3 billion to $10.0 billion) of non-oil state revenues from its privatization program by 2020.

Some of that money would come from asset sales, while the rest would come from public-private partnerships.

The transportation sector is one of the National Industrial Development and Logistics Vision Realization Program’s (NIDLP) pillars.

This program aims to transform the Kingdom into a leading industrial hub and an international logistic platform in a number of promising areas.

This would contribute to generating ample job opportunities for Saudi cadres, enhancing the trade balance and maximizing local content.

It focuses on four main sectors, namely industry, mining, energy and logistics.

In March, a Saudi official told Reuters that six public-private partnership deals worth around $3.5 billion were sealed in Q1 2019 and at least 23 more are expected by 2022.

China: World Expo history on show in Shanghai

(THIS ARTICLE IS COURTESY OF SHANGHAI CHINA’S ‘SHINE’ NEWS NETWORK)

 

World Expo history on show in Shanghai

Hu Min
World Expo history on show in Shanghai

Jiang Xiaowei / SHINE

A visitor examines documents related to the history of the World Expo.

World Expo history on show in Shanghai

Jiang Xiaowei / SHINE

Documents related to the World Expo are on display at the World Expo Museum in Huangpu District.

An exhibition that opened at the World Expo Museum in Huangpu District on Wednesday features around 300 exhibits recording the 168-year history of the event.

“Read the World — Exhibition of Expo Historical Documentations” has four sections — Expos Described by Pens, Expos in Painting and Crafts, Art Across the Globe, and Composing the Future.

It includes reports, awards, certificates, newspapers, journals, design sketches and novels related to the event in many languages.

“The display traces the history of the World Expo and provides a wide range and different aspects of the expo,” said Vicente Gonzalez Loscertales, secretary general of the Bureau of International Expositions.

The exhibits include 3D Expo 1862, a book with 3D Expo images, a perfecscope for viewing stereographs in the 19th century, a paper peepshow dating back to the 19th century, a series of prints of Crystal Palace (the building that housed the 1851 Great Exhibition), Crystal Palace cigarette cards issued by a British cigarette maker in 1937, the certificate of appointment of the advisory committee of the Louisiana Purchase Exposition in 1904, a Crystal Palace Theater advertising leaflet, books with design sketches of Expo pavilions, designers’ notes and Le Petit Journal, a popular newspaper which presented colorful engravings of pavilions at the 1900 Expo in Paris, as well as tickets, passports and invitation letters from previous expos.

A wooden fruit platter from the Guinea Pavilion at the 2015 event in Milan, commemorative medals of the 1970 Expo in Osaka, postcards of different expos, an Underwood typewriter, the phototype of the giant typewriter exhibited at the 1915 Expo, and award winning phonographs exhibited in Paris in 1900 and St Louis in 1904, and Tagine, a type of North African cookware from the Morocco Pavilion of the 2015 Milan Expo are also featured.

The New Record of Traveling around the World by Li Gui (1842-1903) in 1878 is also on display.

The Qing Dynasty (1644-1911) government was invited to form a delegation to the 1876 Expo in Philadelphia and customs officials at that time were mostly foreigners. Li, secretary of the deputy commissioner of Ningbo Customs, was the only Chinese person in the delegation. In 1878, Li published the book which was the first detailed Chinese monograph recording the World Expo.

The exhibition will run through February 9. Lectures and concerts will be hosted during the exhibition.

Meanwhile, a library with 100,000 collections will open next year inside the museum.

The museum has valuable collections in 14 languages related to the World Expo dating back to 1831.

World Expo history on show in Shanghai

Jiang Xiaowei / SHINE

A visitor takes pictures during her visit to the World Expo exhibition.

China imposes ‘reciprocal’ restrictions on US diplomats: spokesperson

(THIS ARTICLE IS COURTESY OF THE SHANGHAI CHINA NEWS AGENCY ‘SHINE’)

 

China imposes ‘reciprocal’ restrictions on US diplomats: spokesperson

Xinhua

China on Friday said it had taken “reciprocal” measures on US diplomats in the country.

Foreign Ministry spokesperson Hua Chunying said at a press conference that the Chinese side issued a note to the US Embassy in China on Wednesday, informing it of reciprocal measures going into immediate effect.

Hua made the remarks when asked to respond to reports that China had taken countermeasures in response to the previous restrictions imposed on Chinese diplomatic and consular officials posted in the United States.

In October, the United States ordered Chinese diplomats to notify the State Department in advance of any official meetings with US diplomats, local or municipal officials and before any visits to colleges or research institutions.

Asked to confirm reports that US diplomats in China are required to notify the Foreign Ministry five working says in advance of meetings with local officials, Hua said, the countermeasures “are reciprocal to the US State Department’s restrictive measures against Chinese diplomatic and consular officials.”

“We once again urge the US side to correct its mistake, withdraw the decision and provide support and convenience for Chinese diplomatic and consular officials posted in the United States as they fulfill their official duties,” she said.

Hua said China has always supported diplomatic and consular personnel from other countries, including the United States, in carrying out normal official duties according to law.

“We will take appropriate measures in response to US actions,” she said.

China: CPC leadership deliberates upon 2020 economic work, anti-corruption

(THIS ARTICLE IS COURTESY OF SHANGHAI CHINA’S ‘SHINE’ NEWS NETWORK)

 

CPC leadership deliberates upon 2020 economic work, anti-corruption

Xinhua

The Political Bureau of the Communist Party of China Central Committee held a meeting Friday to analyze the economic work for 2020 and make plans for improving conduct and building integrity within the CPC as well as fighting corruption.

Xi Jinping, general secretary of the CPC Central Committee, presided over the meeting.