Tag Archives: economics

Today Must be Math Day

Today I ran across two separate math articles from two different sources.

The first was a video from a segment on the Dave Ramsey show. He talks about Obamacare and how you are not exempt from math regardless of whether you are a Republican or a Democrat. He also mentions the effects of being forced to purchase insurance. Have a look:

YouTube Preview Image

The second was an article brought to my attention by a friend:

The modern-day ‘slave class’ is anyone who cannot do math… and that’s about 95% of the population (click here)

Overall, it is a good read. I do not agree 100% with everything the article has to say. For example, I understand that it is a wise decision to transfer risk by purchasing certain types of insurance (such as term life insurance and homeowner’s insurance). The article does bring up the control factor of taxation and the national debt. That, I can certainly appreciate.

There was a slight bit of overlap between the two, but they underlying premise is more or less the same:

You are not excused from math!

It does not matter what you believe or don’t believe either side of politics.

  • Do not fall victim to any of the “loudest voice in the room” arguments on either side of the political spectrum
  • Do not buy into the euphemisms designed to cover up the theft imposed on you by the government
  • Do not be fooled by the trickery used to mask the true nature of our country’s dire financial situation

Unemployed or Out of Work?

This was in my email inbox this morning.

Why don’t we hear about this on the news???

Abbot and Costello

COSTELLO: I want to talk about the unemployment rate in America.
ABBOTT: Good subject. Terrible times. It’s about 9%.

COSTELLO: That many people are out of work?
ABBOTT: No, that’s 16%.

COSTELLO: You just said 9%.
ABBOTT: 9% unemployed.

COSTELLO: Right: 9% out of work.
ABBOTT: No, that’s 16%.

COSTELLO: Okay, so it’s 16% unemployed.
ABBOTT: No, that’s 9%.

COSTELLO: WAIT A MINUTE. Is it 9% or 16%?
ABBOTT: 9% are unemployed. 16% are out of work.

COSTELLO: If you’re out of work you’re unemployed.
ABBOTT: No, you can’t count the “Out of Work” as the unemployed. You have to look for work to be unemployed.

COSTELLO: But … They’re out of work!
ABBOTT: No, you miss my point.

COSTELLO: What point?
ABBOTT: Someone who doesn’t look for work can’t be counted with those who look for work. It wouldn’t be fair.

COSTELLO: To whom?
ABBOTT: The unemployed.

COSTELLO: But they’re ALL out of work.
ABBOTT: No, the unemployed are actively looking for work… Those who are out of work stopped looking. They gave up. If you give up, you’re no longer in the ranks of the unemployed.

COSTELLO: So if you’re off the unemployment roles, that would count as less unemployment?
ABBOTT: Unemployment would go down. Absolutely!

COSTELLO: The unemployment goes down just because you don’t look for work?
ABBOTT: Absolutely it goes down. That’s how you get to 9%. Otherwise it would be 16%. You don’t want to read about 16% unemployment do ya?

COSTELLO: That would be frightening.
ABBOTT: Absolutely.

COSTELLO: Wait, I got a question for you. That means there are two ways to bring down the unemployment number?
ABBOTT: Two ways is correct.

COSTELLO: Unemployment can go down if someone gets a job?
ABBOTT: Correct.

COSTELLO: And unemployment can also go down if you stop looking for a job?
ABBOTT: Bingo.

COSTELLO: So there are two ways to bring unemployment down, and the easier of the two is to just stop looking for work.
ABBOTT: Now you’re thinking like an economist.

COSTELLO: I don’t even know what the hell I just said!

And now you know why Pres Obama’s unemployment figures are improving.

Stimulus Package Explained

This lovely joke ended up in my inbox today courtesy of my friend Dave.

INTERESTING….

It’s a slow day in the small town of Pumphandle, TN and the streets are deserted. Times are tough, everybody is in debt, and everybody is living on credit.

A tourist visiting the area drives through town, stops at the motel, and lays a $100 bill on the desk saying he wants to inspect the rooms upstairs to pick one for the night.

As soon as he walks upstairs, the motel owner grabs the bill and runs next door to pay his debt to the butcher.

(Stay with this…..and pay attention)

The butcher takes the $100 and runs down the street to retire his debt to the pig farmer.

The pig farmer takes the $100 and heads off to pay his bill to his supplier, the Co-op.

The guy at the Co-op takes the $100 and runs to pay his debt to the local prostitute, who has also been facing hard times and has had to offer her “services” on credit.

The hooker rushes to the hotel and pays off her room bill with the hotel owner.

(Almost done…keep reading)

The hotel proprietor then places the $100 back on the counter so the traveler will not suspect anything. At that moment the traveler comes down the stairs, states that the rooms are not satisfactory, picks up the $100 bill and leaves.

No one produced anything. No one earned anything. However, the whole town now thinks that they are out of debt and there is a false atmosphere of optimism and glee.

And that, my friends, is how a “stimulus package” works!

Help Bring Jobs to Virginia

How would you have responded to this email I received? Comment and I will compile the list and send it back to them.

Hello,

I hope this email finds you well. I am ###### ####### and I am with the Virginia Department of Business. I am contacting you in response to some comments you left when responding to our recent survey.

You comment said that you have too many comments and suggestions to list. Here at the Virginia DBA we would like to hear them. The Commonwealth is looking everywhere we can for ideas that will help get people back to work. The one thing that I ask is that when you send us your ideas make sure to select “reply all” to this email so that it will also go to our Director of Business Information Services, ##### #######. Thanks and I look forward to hearing from you.

Thank you,

###### ######
Virginia Department of Business Assistance

Jekyll Island Anniversary

Over at the Economic Collapse Blog, they posted an article about today being the 100th anniversary of 1910 Jekyll Island meeting that resulted in the creation of the Federal Reserve Bank. As someone who studies economics and economic policies, I encourage you to take the time to research the Federal Reserve and how it works. Be sure to study both sides of the argument for and against the Fed. The Federal Reserve, of course, sings its own praises. However, there are others who disagree.