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Yankee Economics 101: A light description for those who never experienced it. 

Presenting Yankee Economics to Ranking Catholic Churchmen and others unfamiliar.

Vic Biorseth, OWM; Sunday, December 29, 2013
http://www.CatholicAmericanThinker.com

Rarely has there been such a fury aroused by an article published here as was experienced after Evangelizing for Communism went live.  The fact that most of them, and among them the best and most clearly articulated ones, all requested that they not be published - speaks volumes to me. 

So, this unexpected reaction prompted our response in the comments after Evangelizing for Communism, as well as in three new webpages, intended to correct educated misconceptions relating to:

  1. Unfettered Capitalism
  2. Trickle Down Economics
  3. Marxist-invented Social Justice

This all happened in such a short time span that I never sent out the usual Catholic American Thinker E-Zine announcing the three new webpages. 

This is just to correct that.

While I would never think to instruct the Church on Ecclesial matters, neither do I expect the Church to instruct the secular world on the legal or political control of either national or global planned and controlled collective economies. 

Regards,

Vic



=====

Hover-Link Footnotes:  For the convenience of those readers using devices that lack a mouse, these footnotes are provided for all webpages, in case any webpage contains any hover-links.  (If you don't have a mouse, you can't "hover" the mouse over a link, without clicking, to just to see the related Acronym appear.)

SLIMC1 Secularist Liberal Intellectual Media Complex
GESGOEAEOT2 Gradually, Ever So Gradually, Over Eons And Eons Of Time
PEWAG3 Punctuated Equilibrium's Wild Assed Guess
TTRSTF4 Them There Real Scientifical Type Fellers
TTRSPTF5 Them There Real Smart Perfesser Type Fellers
TTRSJTF6 Them There Real Smart Journalistical Type Fellers
SNRTACBT7 Surely No Right Thinking Adult Could Believe Today
STNSEACPB8 Surely Today No Serious, Educated Adult Could Possibly Believe
WDN9 We Don't Know
BMDFP10 Baboons, Mongrel Dogs, Filthy Pigs
HBAACOTE11 Human Beings Are A Cancer On The Earth
ACLU12 Anti-Christian Litigation Union
FLORMPORIF13 Flagrant Liar, Or, Mindless Parrot, Or, Innocent Fool
MEJTML14 Marxist Ends-Justify-The-Means Liar
IEJTML15 Islamic Ends-Justify-The-Means Liar
MPAV16 Marxist Principles And Values
WBESSWG17 Wise, Benign, Elite, Super-Scientific World Governance
TRMITM18 The Reason Man's In This Mess
IYI19 Intellectual Yet Idiotic

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Date:  Sun Mar 16 22:23:29 2014
From:  Stanley
Email:   
Location:  
Comment: 

This seems to negate or ignore all recognized economic theories as invalid at best and fraudulent at worst.  Where do you put John Maynard Keynes in all this? 


Date:  Mon Mar 17 2014
From:  Vic Biorseth
Comment: 

Stanley:

First, Happy Birthday Marcie, and Happy St. Patrick's day, everyone else. 

I put Keynsian economics somewhere between Marxist and Stupid.  Keynes wrote his master economic work believing (wrongly) that Capitalism had failed, bringing about the Great Depression.  Capitalism, which is not a system of man but a natural thing born of liberty, did not fail.  The Great Depression was caused by radical interference by President Herbert Hoover and greatly deepened by increased interference by President Franklin Delano Roosevelt.  We talked about Keynes' interventionism in the Demand Side discussion.  We talked about the causes of the Great Depression and the current depression in the various Economic Catastrophe pages. 

The fatal flaw in the Keynesian "economic stimulus" approach is glaringly obvious.  The money he uses to stimulate the economy was taken out of the economy in the first place.  That makes it a near zero-sum game.  If you take money away from someone first, and then give it back to them hoping they will spend it, thereby stimulating the economy, they will most likely use it to do what they intended to do with it before you took it in the first place.  Which may just be to survive a little longer. 

Taking money from the private sector through taxation and then giving it back to the private sector to stimulate the economy is just plain stupid. 

Regards,

Vic


Date:  Mon Mar 17 07:30:21 2014
From:  Stanley
Email:   
Location:  
Comment: 

What about the tax revenue from the work produced by the stimulus? 


Date:  Mon Mar 17 2014
From:  Vic Biorseth
Comment:  

Stanley, Stanley, Stanley.

It is tax revenue that is paying the worker hired because of the stimulus.  Whatever tax he pays on his tax-provided income can never hope to come close to equaling the taxes used to pay him. 

If you hire a worker to repave a highway or repair a bridge, and you pay him out of tax revenue, the taxes he pays on his tax-supplied income will never even break even with what was spent to pay him, unless and until he is taxed at a 100% tax rate.  And if we take all of his tax-paid wages in taxes, he will stop working and not repave the highway or repair the bridge.  Unless and until he is conscripted into a labor army and forced to do it by law. 

Taking tax dollars out of tax revenue to stimulate the economy is the worst possible investment that could ever be made.  It's a losing proposition. 

Her Excellency Nancy Pelosi will go on and on about how such things as Stimulus packages and unemployment compensation and minimum wage laws and income caps and price controls will bring about an economic boom, but then, she is a MEJTML14 , and as a professional Party Politician and member of the Marxocrat Party, lying to the electorate is job one for her.

With her, it's hard to tell where sheer stupidity ends and the evil of Marxism begins; but with the rest of her Party it is fairly obvious that the lies are quite intentional.  If you or anyone else wonders how it ever came to be that so many could be easily fooled by so few, look no farther than formal education increasingly controlled by government at the national and even international level, and you will see how it has been and is being done. 

The Marxocrat Party gets an added bonus from the Stimulus economic trick, in that the worker hired to repave the road or repair the bridge is almost certainly a member of a Marxist-controlled union, and his union dues will be sent by the union to support Marxocrat Party political "campaign needs".  They get richer and richer even as they bring the Constitution and all the rest of us down. 

Regards,

Vic


Date:   Wed Aug 20 2014
From:  Vic Biorseth
Comment:  

Changes pursuant to changing the website URL and name from 
Thinking Catholic Strategic Center to
Catholic American Thinker.

Pulled the trigger on the 301 MOVE IT option June 1, 2014. Working my way through all the webpages.  . 

Regards,

Vic


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