Grats to the Bears but theta burn on such a long weekend. ~1090 support hold, so back to productive Capital issues...
Define Trust, Acountability, and Contract to the taxpayer since you are hell bent on aversion to it. May the Voters reap what they sow.
A capitalist economy rests on people's ability to fulfill their contracts. The proponents of efficient markets can see now since evidently the future is uncertain, but the state of affairs alters when government enters the scene. If, owing to uncertainty about the future, people fear that they will lack liquidity, they will endeavor to increase their cash balances. Moral spending and investment will then focus and fall. Evidently, the future is uncertain, but somehow this state of affairs alters when the government enters the scene with the bent of mind in timeless attributes. Why should we believe this? Why assume that business confidence is so rigidly determined? Is it not rather the result of many causes that, if indeed the future is uncertain, cannot be readily specified by the defined Statist?
XXVI. THE IMPOSSIBILITY OF ECONOMIC CALCULATION UNDER SOCIALISM
“It is the two fundamental errors of mathematical economics that must be indicted. The mathematical economists are almost exclusively intent upon the study of what they call economic equilibrium and the static state. Recourse to the imaginary construction of an evenly rotating economy is, as has been pointed out, an indispensable mental tool of economic reasoning. But it is a grave mistake to consider this auxiliary tool as anything else than an imaginary construction”
He no longer deals with human action but with a soulless mechanism mysteriously actuated by forces not open to further analysis. In the imaginary construction of the evenly rotating economy there is, of course, no room for the entrepreneurial function. Thus the mathematical economist eliminates the entrepreneur from his thought. He has no need for this mover and shaker whose never ceasing intervention prevents the imaginary system from reaching the state of perfect equilibrium and static conditions. He hates the entrepreneur as a disturbing element. The prices of the factors of production, as the mathematical economist sees it, are determined by the intersection of two curves, not by human action. The problem of socialist economic calculation is precisely this: that in the absence of market prices for the factors of production, a computation of profit or loss is not feasible. Who should be master, the consumers or the director? With whom should the ultimate decision rest whether a concrete supply of factors of production should be employed for the production of the consumers good or the consumers good be? Such a question does not allow of any evasive answer.
It must be answered in a straightforward and unambiguous way.
Mises
http://taxreview.treasury.gov.au/conten ... _paper.pdf
" The more complex the system the more dependent people are on professionals, which in some circumstances may make them vulnerable to bad advice. Tax complexity can also create barriers to investments for those who do not understand it. For example, share ownership significantly complicates individual tax returns, both with dividends and capital gains. This may prompt many less sophisticated people to use financial planners, some of whom have conflicts of interest."
http://yelnick.typepad.com/politick/200 ... -debt.html
TBTF will prevail since the money pump to them precludes all else since there is no solution since they are the solution in there data induced dream world.
Even as the tiny bubbles called the middle class simply cease to exist in the Obama induced myopia the drones refuse to wake.
We shall see and we know the GD outcome. We know the hope defered paradox.
" One might ask the question, "Aren't American socialists in favor of their own country's survival?"
To answer this question, we must turn to abnormal psychology.
Mr. Summers already answered this as I am reminded.
http://generationaldynamics.com/forum/v ... mers#p3829
Recall Keynes's erroneous prediction that within a century people's material wants would be satiated. When that happened, the demand for capital (to finance consumption) would plummet and rentiers (people who live on income from passive investments, such as stocks or bonds, and thus are hoarders) would be wiped out, a prospect that delighted Keynes, who looked forward to "the euthanasia of the rentier," though fortunately he did not mean this literally. He questioned free trade--that holy of holies of conventional economists--by pointing out that a country whose people had a low propensity to consume could stimulate investment by depreciating its currency so that its exports were attractive, because that would encourage its industries to invest in producing for foreign consumption and therefore to employ more workers. The country would accumulate foreign currency that it could use to invest abroad--the policy that China has been following lately, with pretty good results. He even had kind words for usury laws, arguing that they had reduced interest rates and thus discouraged hoarding. He favored a heavy estate tax, reasoning that it would increase consumption by reducing accumulation for bequests. (The standard economic argument against the estate tax is identical--it encourages "wasteful" consumption!)
http://www.islam-investor.com/en/islam_ ... board.html Meanwhile there products are expanding.
The market for Islamic Banking is growing since several years with double digit growth rates. Several studies of the rating agency Standard & Poors and the consultancy Booz & Company evaluate combined assets of Islamic Banks to be nearly 500 billion US Dollars at the end of 2008. During the last 10 years, Islamic Banking has grown by 20% per year and there are no signs that the speed of growth will decrease.
Basically, contract entails no gratitude but a defined quality and quantity of work. This is the Austrian on older regards in the division of labor mindset and why. Earlier posts convey this aspect also. Of course you can see the friction analogy's everyday. I can see imprints and complications but the contract "product" managers can level this so the issue is really influence. To be simplistic, an Islamic concordance to say such as an economic Nicene Creed to there products for the common good as we would say. Given the duration of contract's to date there decision was based on leverage calculations and maybe a time out was needed and the West's interpetation or bent of mind was a typical reflex action given the level of conveyances. Really the "product" may or may not be what we want to interpet but they will decide and should be a object lesson for both interest's on the evolution of sound finanace which they have been moving on over the century's. They can figure it out "entrepreneur" since the market or Political Economy will only interfere with contract of implication already known to us as sediment of market trade based on what information which is another cultural gravity over time since who and his money is soon parted?
Meanwhile,
http://finance.yahoo.com/news/Food-bank ... 2.html?x=0