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Economics – Scarcity

 Will Obama make our economy better or worse?questionmark

 That is a question on my mind. I did not vote for Obama for I strongly believe that what he campaigned, his plans, if they are carried out, are not the best for our economy. I hope he proves me wrong. I have being researching politics for only a few months now and have realized is is a passion I never thought I would be so involved in. In trying to answer the question of who should be our next president I read lots of articles, watched the news, read everything I could possibly click on the internet(well….maybe not everything….internet is a little big), But I have realized that trying to argue your point with people in terms of what is being said by all the candidates and why you believe one over the other can get annoying. Topics and issues get picked apart, religious and partisan views get put in along with stories overheard from our parents or what we actually experience ourselves. It is hard to not be biased and just get straight to the facts.

 Is it possible to make things clear?

I have decided to go back to basic economics. First, I want to talk about how scarcity does not only mean something America does NOT have because we as consumers as used it all(selfish Americans – sorry I had to throw a liberal statement in here somewhere it is only the day after the election), but how it is also a requirement for any success in the future. Does it make our country insufficient and poor, or does scarcity represent a source to make our country successful and fortunate? There have economists like Oscar Lange and Milton Friedman who have studied the subject with very different views. A quote from
 bookBasic Economics written by Thomas Sowell states:
     “The methods used by a Marxist economist like Oscar Lange did not differ in any fundamental way from the methods used by a conservative economist like Milton Friedman(p 6).”
  
To be continued……(I need dinner ya’ll)

 

As much as I am hesitant to use the word Marxist, knowing that many will put up a wall and may not even read anymore due to the lack of maturity or ignorance, or just the lack of interest in economics in general; it is a quote that I felt needed to be stated to let you, the reader know that it is not a word pulled from my own “opinion”. Again this reconfirms why I am looking at economics to try and explain what works and what doesn’t. Because economics is not an “opinion” , it is the facts and outcomes of certain acts or, “lack of,” determining the answer by looking at all angles.
 

Scarcity will be the focus of my next post 

 

Still proud to be an American  flag

http://www.youtube.com/watch?v=Kft4l9nw4zc

Candidates’ Tax Plan Comparison
  Current McCain Obama
Highest Income Tax Rate 35% 35% 41%
Capital Gains, Dividends Tax Rates 15% 15% 20%
Income and Payroll Taxes Combined 35% 35% 43-45%
Estate Tax 45% 15% 45%
Corporate Tax 35% 25% 35%

Source: Candidate Web Sites / WSJ

Greenspan Quotes

The world of antitrust is reminiscent of Alice’s Wonderland: everything seemingly is, yet apparently isn’t, simultaneously. It is a world in which competition is lauded as the basic axiom and guiding principle, yet “too much” competition is condemned as “cutthroat.” It is a world in which actions designed to limit competition are branded as criminal when taken by businessmen, yet praised as “enlightened” when initiated by the government. It is a world in which the law is so vague that businessmen have no way of knowing whether specific actions will be declared illegal until they hear the judge’s verdict,after the fact. – Alan Greenspan

Whatever you tax, you get less of.
Alan Greenspan

 

CHICAGO — It was a celebration of Palestinian culture — a night of music, dancing and a dash of politics. Local Arab Americans were bidding farewell to Rashid Khalidi, an internationally known scholar, critic of Israel and advocate for Palestinian rights, who was leaving town for a job in New York.
Click above to go to original article

Iraq asks for more help

BAGHDAD —  Iraq’s government decided Tuesday to formally ask the United States to reopen negotiations on a proposed deal to keep American troops here past the end of the year. The U.S. suggested it may not be ready to offer more concessions.

Republicans have been critisized for using the word socialism and Marxist, but Obama uses it himself in his OWN BOOK!

“To avoid being mistaken for a sellout, I chose my friends carefully,” the Democratic presidential candidate wrote in his memoir, “Dreams From My Father.” “The more politically active black students. The foreign students. The Chicanos. The Marxist professors and structural feminists.”

http://elections.foxnews.com/2008/10/28/obama-affinity-marxists-dates-college-days/

Read this article too(click it!)

The Barack Obama We Hardly Know