They made me do chores & go to school. They gave me a curfew, suggested I get a job & work for the things that I wanted. They insisted that I do my best at school, at my job & to take pride in my appearance & my work. I grew up with morals, a good work ethic, respect for the law, and my elders. I thank God everyday for my MEAN parents.
At a recent presentation for investors, Microsoft said the ability to see into consumer’s living rooms means advertising opportunities. Kinect‘s cameras can be used to identify people, or objects. Then share shopper’s preferences with advertisers. Brett Gordon teaches Marketing at Columbia University.
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America Is Hurting While the Fed’s Cronies Enjoy Full Employment and Jackpot Bonuses
by Ron Paul
Unemployment continues to plague our economy. In spite of constant claims that we have just turned the corner into recovery, the jobs report remains grim with no real signs of improvement. While Keynesian economists and big government apologists scratch their heads about persistent unemployment in spite of unprecedented government so-called “investment” in the economy, free-market economists understand the problem perfectly well. In short, they understand that we are looking to the Federal Reserve to solve an unemployment crisis that the Fed itself largely created.
For example, the Fed is supposed to maintain full employment as half of its dual mandate. But the Fed simply has the wrong tools to do this. In fact, its credit expansion and manipulation of interest rates cause harm when they are applied to “help the economy.” As we saw with the housing boom and bust, Fed-created inflation cannot be sustained without harmful consequences. The Fed’s artificial boom led to the unemployment we’re suffering today.
The Fed is not a small business or a manufacturer that creates value or increases productivity to sustain real job growth. It literally destroys value by printing more money and distributing it through sweetheart deals to well-connected banks and corporations, including foreign banks. The only success the Fed has had in maintaining full employment has been on Wall Street, where it props up crony banks and investment houses to protect them from going bankrupt as they should. Instead they survive to malinvest another day while their executives enjoy jackpot bonuses.
The Fed also pumped up employment in the housing industry with artificially low interest rates that created an unsustainable demand for housing. Millions jumped into the sector when the money was loose and the bubble inflated. Besides the many who bought houses they could not afford and now face foreclosure, there were also those who became employed in housing-related fields. These people invested time and money in training and spent years establishing careers in real estate, mortgage lending, construction and contracting. Careers that all vanished into thin air with the burst of the bubble. Now they face considerable disruption in their lives as they struggle with unemployment, underemployment, and decisions about retraining for different careers. This amounts to a tremendous amount of unnecessary waste that would not have occurred had the housing industry be allowed to develop naturally according to market demands.
Jobs are properly created by entrepreneurs who are willing to work hard and take calculated risks. Jobs are also created through real increases in productivity, resulting from real investment profits or conservative borrowing at market interest rates. But the Fed has made those risks impossible to calculate and made borrowing money artificially cheap. As a result, economic growth has been chilled while unemployment skyrockets.
Until those in power understand the harm they do with central economic planning, we will continue to slide backwards and lose jobs. The Fed needs to stay out of the job-creating business altogether, and the federal government needs to focus on its constitutional duties. Just when we need government to back off, we hear about more government intervention in the economy in the form of “more spending,” only they call it “investment.” It is more properly called “malinvestment,” and the resources that are funneled into industries by government policies will only hurt employment more in the long run.
Thanks for calling this update. A new update is placed on this number, 888-322-1414, every Monday. The written text can be found on my website www.house.gov/paul under the heading “Texas Straight Talk”. Thanks for calling.
- I asked God for a bike, but I know God doesn’t work that way. So I stole a bike and asked for forgiveness.
- Do not argue with an idiot. He will drag you down to his level and beat you with experience.
- I want to die peacefully in my sleep, like my grandfather, not screaming and yelling like the passengers in his car.
- Going to church doesn’t make you a Christian any more than standing in a garage makes you a car.
- The last thing I want to do is hurt you. But it’s still on the list.
- Light travels faster than sound. This is why some people appear bright until you hear them speak.
- If I agreed with you, we’d both be wrong.
- We never really grow up; we only learn how to act in public.
- War does not determine who is right – only who is left.
- Knowledge is knowing a tomato is a fruit; Wisdom is not putting it in a fruit salad.
- Evening news is where they begin with ‘Good evening’ and then proceed to tell you why it isn’t.
- To steal ideas from one person is plagiarism. To steal from many is research.
- A bus station is where a bus stops. A train station is where a train stops. On my desk, I have a work station.
- How is it one careless match can start a forest fire, but it takes a whole box to start a campfire?
- Some people are like Slinkies … not really good for anything, but you can’t help smiling when you see one tumble down the stairs.
- Dolphins are so smart that within a few weeks of captivity, they can train people to stand on the very edge of the pool and throw them fish.
- I didn’t say it was your fault; I said I was blaming you.
- Why does someone believe you when you say there are four billion stars but check when you say the paint is wet?
- Why do Americans choose from just two people to run for president and 50 for Miss America ?
- Behind every successful man is his woman. Behind the fall of a successful man is usually another woman.
- A clear conscience is usually the sign of a bad memory.
- You do not need a parachute to skydive. You only need a parachute to skydive twice.
- The voices in my head may not be real, but they have some good ideas!
- Always borrow money from a pessimist. He won’t expect it back.
- A diplomat is someone who can tell you to go to hell in such a way that you will look forward to the trip.
- Hospitality: making your guests feel like they’re at home, even if you wish they were.
- Money can’t buy happiness, but it sure makes misery easier to live with.
- Some cause happiness wherever they go. Others whenever they go.
- I used to be indecisive. Now I’m not sure.
- When tempted to fight fire with fire, remember that the Fire Department usually uses water.
- You’re never too old to learn something stupid.
- To be sure of hitting the target, shoot first and call whatever you hit the target.
- Nostalgia isn’t what it used to be.
- Some people hear voices. Some see invisible people. Others have no imagination whatsoever.
- A bus is a vehicle that runs twice as fast when you are after it as when you are in it.
- If you are supposed to learn from your mistakes, why do some people have more than one child?
- Change is inevitable, except from a vending machine.
The fastest served ball in tennis was clocked at 154 mph in 1963.
Do you believe I have posted a new Snapple fact every day at 6 AM for 150 days in a row!?!?!
The first sport to be filmed was boxing in 1894.