I do believe in the possibility of a planned economy.

Perhaps humans themselves cannot manage every aspect of a planned economy, but I have no doubt that computers will soon be a better alternative to the price mechanism in a free market. Mises and Hayek had no idea what quantum computing or even super computers today would be capable of but we have a better view of the horizon of technology to come. Computers will soon be better than the human brain with advances in artificial intelligence and eventually we will have to transfer the price mechanism to a computer network to boost efficiency in national production.

My favorite part is at the end where libertarians get mad. “Gold, having no yield or earnings, is hard to value. That was a help when the price was rising, since the sky seemed to be the limit. But now that the metal is falling, the lack of valuation support is a curse. Like the government-backed paper money that gold bugs despise, gold is precious only so long as enough people agree that it is.”

So it appears to be a clash between West and East. Xi Jinping needs to meet with Obama and Japanese ministers to resolve this before either of them do anything stupid. I don’t think the Chinese government will risk western economic relations for the sake of islands, no matter how much their constituents cry out. 

South Korea, Japan, Australia (at least the American military presence in Australia), India, and of course the United States will all be allied for they are all so intertwined in economic relationships. A military conflict right in between all of that trade, in the East China Sea, would be catastrophic. No economic superpower would wish to ruin ties that badly by starting such a war.

"It is quite legitimate to argue that modern governments have grown excessively large, and that they thereby limit economic growth and individual freedom. People are right to complain about unresponsive bureaucracy, corrupt politicians, and the unprincipled nature of politics. But in the developed world, we take the existence of government so much for granted that we sometimes forget how important it is, and how difficult it was to create, and what the world would look like without certain basic political institutions."

— Francis Fukuyama, The Origins of Political Order - pg. 12

Chinese Factory Reforms - Foxconn and Apple

So at last, we see! Reforms in manufacturing and laws that look similar to the western world with something like a 60 hour weekly working cap.
The economist in me says that the cap is wrong and it kills the opportunity for those who desperately need the…

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Sorry Obama, I’m not stimulating this economy fast enough :( I have failed you.
I am a bit short on cash, so I’m spending my money with fat corporations like book publishers and video game companies. I don’t often have enough cash to spare on family restaurants like this one in Glendale. I have heard plenty of good reviews about the Toasted Bun restaurant, and I always drive past it without realizing that it’s a restaurant. 
Damn, if only I could have done more. If only I could have bought another cheeseburger… if only I had spent an extra $1.95 on fries and a soda… the economy would have been a better place today. 
I WAS SO SELFISH. I WAS A FOOL!!!
I didn’t consider… the business owner. The small business man is having such a difficult time competing with other giant fast food industries. Damn Damn Damn I am so ashamed of my modest wealth. 
Please, just give the rich people some more money. Please sir, tax my wealth and take it forcefully so I can stop having money left over after my modest expenses on cheaper food and the occasional books. I don’t deserve this. 
BUT. But…. there is hope. The rich can stimulate the shit out of this economy. Please leave them with more money, oh please. They will buy that extra burger, that I never could. They will buy that extra soda, that I never tasted… that THE ECONOMY never tasted. 
Please sir, help an economy in need. I have done all that I could, but it was not enough ;_; Sadness.

Sorry Obama, I’m not stimulating this economy fast enough :( I have failed you.

I am a bit short on cash, so I’m spending my money with fat corporations like book publishers and video game companies. I don’t often have enough cash to spare on family restaurants like this one in Glendale. I have heard plenty of good reviews about the Toasted Bun restaurant, and I always drive past it without realizing that it’s a restaurant. 

Damn, if only I could have done more. If only I could have bought another cheeseburger… if only I had spent an extra $1.95 on fries and a soda… the economy would have been a better place today. 

I WAS SO SELFISH. I WAS A FOOL!!!

I didn’t consider… the business owner. The small business man is having such a difficult time competing with other giant fast food industries. Damn Damn Damn I am so ashamed of my modest wealth. 

Please, just give the rich people some more money. Please sir, tax my wealth and take it forcefully so I can stop having money left over after my modest expenses on cheaper food and the occasional books. I don’t deserve this. 

BUT. But…. there is hope. The rich can stimulate the shit out of this economy. Please leave them with more money, oh please. They will buy that extra burger, that I never could. They will buy that extra soda, that I never tasted… that THE ECONOMY never tasted. 

Please sir, help an economy in need. I have done all that I could, but it was not enough ;_; Sadness.

Although the Europeans, Japanese, and Americans have pushed interest rates to 0%, Asian countries have not. 
China still holds a firm 6%, while India, China, and Russia all hold about 8%. 
I would be interested in seeing what their growth rates would be like if they introduced some heavy monetary stimulus. I don’t mean to imply that their growth rates aren’t already high, but I wonder if it would have much of an effect on the world economy.
Either way, I believe the U.S. is in for a fun little surprise once we realize that Mitt Romney’s tax returns don’t matter as much as the financial crisis ahead of us if the Eurozone goes to shit.

Although the Europeans, Japanese, and Americans have pushed interest rates to 0%, Asian countries have not. 

China still holds a firm 6%, while India, China, and Russia all hold about 8%. 

I would be interested in seeing what their growth rates would be like if they introduced some heavy monetary stimulus. I don’t mean to imply that their growth rates aren’t already high, but I wonder if it would have much of an effect on the world economy.

Either way, I believe the U.S. is in for a fun little surprise once we realize that Mitt Romney’s tax returns don’t matter as much as the financial crisis ahead of us if the Eurozone goes to shit.

Terrorists are job creators.
Messy kids are job creators.
Old people are job creators.
Graffiti artists are job creators.
I hate how our society today puts the job creators at the top of the praise list because they are so simple. A person who creates a job for another one is just saying “Hey, here’s a whole bunch of crap that society needs to get done and you all should do it for me for this much money.” 
Sure it circulates money, but the idea of a job isn’t that special. Terrorists can create jobs by destroying essential buildings that will be repaired as soon as possible. 
Messy children will create jobs by destroying furniture or drawing on the walls - somebody needs to fix that stuff right?
Old people create jobs by being so needy.
I suppose the surest way to create jobs is to destroy essentials such as your favorite chair, a national monument, or the sewage system. I hope the FBI doesn’t come after me for suggesting these things, but it’s true.
There is a lot more demand for work that is essential than work that is not. 
Obama’s 2012 campaign should be: “JOBS, WE NEED THEM SO MUCH THAT I’M WILLING TO BLOW UP FLORIDA FOR IT!”

Terrorists are job creators.

Messy kids are job creators.

Old people are job creators.

Graffiti artists are job creators.

I hate how our society today puts the job creators at the top of the praise list because they are so simple. A person who creates a job for another one is just saying “Hey, here’s a whole bunch of crap that society needs to get done and you all should do it for me for this much money.” 

Sure it circulates money, but the idea of a job isn’t that special. Terrorists can create jobs by destroying essential buildings that will be repaired as soon as possible. 

Messy children will create jobs by destroying furniture or drawing on the walls - somebody needs to fix that stuff right?

Old people create jobs by being so needy.

I suppose the surest way to create jobs is to destroy essentials such as your favorite chair, a national monument, or the sewage system. I hope the FBI doesn’t come after me for suggesting these things, but it’s true.

There is a lot more demand for work that is essential than work that is not. 

Obama’s 2012 campaign should be: “JOBS, WE NEED THEM SO MUCH THAT I’M WILLING TO BLOW UP FLORIDA FOR IT!”

Isn’t it interesting how none of our candidates are making much fuss about the financial crisis still trying to be resolved in the Eurozone? It is an important fact that Europe is a large trading partner of the United States, and that their economic conditions affect our trade and economy. 

Isn’t it interesting how none of our candidates are making much fuss about the financial crisis still trying to be resolved in the Eurozone? It is an important fact that Europe is a large trading partner of the United States, and that their economic conditions affect our trade and economy.