D Mc Sandman

Hope for our future BECAUSE we are different and can benefit each other IF WE TRY.

Revisado: 03-01-24

Clear language. Clear reading. Clear thinking. Good analysis. Good advice.
BUT we must listen to others with different backgrounds. Not to agree on everything, but to better understand the reasons for disagreements.
Only then can we work together towards a better future for all.

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A humbling synopsis and history of the interpretation of GOD.

Revisado: 03-25-23

Helps one realize the importance of understanding the meaning of other people’s definitions and understandings if different terms.

Brings ways of understanding and finding peace with other views without judgement.

Focuses on practice of good living vs beliefs in absolutes and doctrines. Myths present possible learning opportunities vs absolute truths.

Avoids debate on a definition of the undefinable. Avoids the need to know the unknowable.

Brings greater insight and tolerance for “other” faiths. Explains why the only faiths that are “real” are those that are practiced.

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The best part of this book is the cover.

Revisado: 03-08-22

The author destroys his own assumptions by his circular reasoning and inconsistencies in logic. This book projects as much arrogance, indignation and hate as other books the author chooses to condemn.

The author asks, “Why don’t we eat our babies?” Such twisted logic would leave every godless animal no reason to live. (Embarrassing indeed.)

His best advice is to speak truth in love. Please compare “truth” to “faith.” (Most faiths are just doctrines or opinions.) Then, speak truth in love.

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esto le resultó útil a 2 personas

I gave up when i heard “Rocks have consciousness.”

Revisado: 01-30-22

Lots of theories and “what ifs.” Someone smoking weed could write this stuff.
Great talk. Little walk.

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LOL, LOL, and LOL

Revisado: 04-10-21

Couldn’t keep myself from laughing.
So true (mostly).
If you are offended by harsh reality in contrast with what you THINK you KNOW, be careful. If so, this book may open your mind or BLOW YOUR MIND.

Will listen a second time @ 120% speed.

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Pertinent subject, clear reader, BAD economics

Revisado: 02-07-21

Great effort to open discussions about real economic problems such as unemployment.
Great job by the author in reading the book.
The teacher needs to learn more about the real world and economics or be more honest about the REAL issues such as unemployment and limited resources.

The author draws heavily from quotes taken out of context. For example, Alan Greenspan was quoted as saying “There is nothing to prevent the federal government from creating as much money as it wants and paying it to somebody.” The author knows this is not true, yet applauds this statement as “the truth, the whole truth, and nothing but the truth.”

INFLATION is a HUGE obstacle (as was briefly discussed), but the author avoids discussing the consequences of DOUBLE digit inflation on an economy.

Yes, “Uncle Sam can always pay.” But with inflated “Monopoly money,” those $ may not be worth the COST of the paper they are printed on. (It actually costs 2.4¢ US to make each penny and 7.5¢ to make each nickel).

The author admits that the underlying assets MUST be created by a productive economy, but fails to recommend any measure to address that challenge.

Higher inflation causes higher payments to SS recipients, more MMT (inflationary $), higher taxes, higher minimum wages, in a never ending cycle of inflationary pain to everyone! Again, no measure of the inflationary costs of MMT.

Common sense and elementary school math tell us that if the government doubled the pay for everyone via MMT (Magic Money Tree) theory, the $5 hamburger would soon cost $10. Many retired couples would soon be paying much higher income taxes on their Social Security. One of the TRICKS used to “balance the budget” in 1993 was to tax income above $32,000 for a married couple at an effective 50-85% tax penalty. While a couple could live on $32,000 in 1993, inflation would require $58,450 today. The SS tax exemption has NEVER been raised to cover inflation. A retired couple living on interest income from the MMT federal treasuries paying 1% interest will quickly see their income OBLITERATED by INFLATION.

A few more quotes from this book show the fallacies.
“Taxes don’t pay for anything!”
“The government doesn’t need our money.”
The author states all we need is a few “Incredibly simple” accounting entries or “50% interest on trust fund bonds.”

This illustrates the lack of focus on the effects of inflation that would be caused by such a scheme.

If it “sounds too good to be true” it most likely is NOT TRUE.

What has happened to economies in other countries throughout history when they spent MORE than they produced? THEY FAILED!

Using “Monopoly money” as an illustration shows the myth behind this theory. At the end of the monopoly game, the “winner” has NOTHING but WORTHLESS PAPER!

It sounds like MAGIC or Santa Clause and anyone selling ANY form of MAGIC is deceptive or delusional.

“There is NO free lunch.”

The author explains how inflation is REAL and printing money causes inflation, but keeps pushing the illusion that the MMT will not cause that problem.

The author admits budgets are “a balancing act.” This means more spending by governments ROBS resources from non-government alternatives.

“How do we pay for it?” is NOT a meaningless question.
The author admits that “How will we resource it?” is the real question. Most economists would admit the FACT that there is not much difference between these two questions.

Will a NEW PERMANENT government program REALLY improve the efficiency of our economy?
The THEORY, is in part based on the ASSUMPTION that the FEDERAL government could “create a job” that would be filled by “any person willing to work”. This sounds very inflationary (as admitted by the author) with many unintended consequences (not even discussed by the author.)

This retired CPA sees lots of unintended consequences, but perhaps California should give it a try. They effectively already print their own money with ever higher taxes. And this sounds similar to systems used in places like Montevideo, Uruguay with very poor results.

Another “solution” the author alludes to is the Argentina “solution” which was to DEFAULT on their debt?

The author also ignores the VERY REAL possibility that crypto currencies could replace the US $ in world trade. This could destroy the value of the dollar and produce massive inflation rates.

I hope the author listens to constructive rebuttal to this “miracle cure” and revises this book SOON before too many gullible minds are damaged.

Solar and wind farms have already failed in California and caused expensive and unreliable imported power at night.

This book sells the idea that the USA has an unlimited money supply “to infinity and beyond.” We all SHOULD know better! Mixing facts and fiction make it sound credible instead of INCREDIBLE.

The deficit is NOT a myth!

We CANNOT “Ignore the fiscal deficit COMPLETELY!”
While short term deficits are sometimes necessary and useful, this author seems to be selling SNAKE OIL. (And should know better.)

Many facts were mentioned about the “hollowing out of the middle class.” There is no discussion of the economic consequences of many well intentioned government regulations that do not apply in most other countries. The USA is rushing to “kill coal” without realizing the fact that China is still building coal fired electric plants to power their economy and steal our jobs. This is only ONE factor contributing to problems such as unaffordable health care coverage and declining pension plans for many workers. Lofty ideas such as the green new deal will only accelerate the decline of our economy, loss of good jobs and declining benefits. Every “free benefit” has a cost and squeezes jobs, benefits, or causes inflation.

I worked in three part-time jobs to pay my way through school and learned valuable life lessons in each of those jobs. No mention of “work-study” programs in this book.

“The infrastructure deficit”
Traffic is a major problem. If the Federal bureaucracy would stop blocking computer controlled transportation, most transportation issues would disappear and most traffic related deaths would be avoided.
Water quality can be an issue. American Water Works is a non-government owned and operated water distributor that provides high quality water to its customers. Government owned systems COULD provide better water, but at higher costs. Another squeeze on the consumer with added inflation.

“Climate change”
MMT could throw “unlimited resources” at the problem and POSSIBLY fix it. As in all other items on the author’s wish list, these resources would be diverted from others and cause inflation. And unless other countries take similar steps to “solve the problem” we could cause even more problems by exporting jobs and pollution to other countries. A coal fired electric plant in China causes more pollution than one in Wyoming. Most of our solar panels are made in China using coal power.

“Democracy deficit”
MANY fallacious arguments too numerous to mention.
Who “chooses” our leaders? The press. NOT voters.

What about the top 1%? How many worked tirelessly and went bankrupt while trying? Those who succeed bring prosperity, better products, efficiency and services to all of us.
Does the world need more CONSUMPTION? The author states lower wage earners spend a higher percentage of income on consumption. True! But excessive consumption on potato chips, beer and cigarettes doesn’t solve health issues or climate change. The top 1% leave MOST of their wealth (which is nothing but paper) invested in the FUTURE growth of Apple, Amazon, UPS, Tesla, Google, or SpaceX to benefit the whole world! Without this capital, many of the best jobs and advancements to civilization would not be possible.

Why not tax the 1% more?
1. Even 100% CONFISCATION of their wealth would not “solve” the deficit. $40 Trillion would cover the current 28 Trillion of debt, but would NOT COVER the $200 Trillion of UNFUNDED SS, healthcare, pension costs, etc.
2. It would rob capital from those who are using it to provide the BEST answers and solutions to the current and future needs of the world. Does anyone REALLY wish to “kill the goose that is laying the golden eggs?” Where would the world be if the most successful 1% of our minds and resources suddenly disappeared? No Microsoft, No Amazon, No Tesla, No Apple, No Google. And many other employers and innovative contributions to the world’s successful advancement would disappear. This would be much worse than the death of Kennedy’s NASA.
3. The author ignores the fact that the “inflationary costs” of MMT will be born by 100% of US consumers. Not just the top 1%. In fact a 2% inflation rate hurts the poorest of retirees the most. The little old lady next door that only has $10,000 left in her retirement savings account (earning .001%) will lose 1.999% of her money EVERY YEAR to INFLATION. So this free MMT money is robbed from those least able to afford it.

Do we want change “from the bottom up?” Certainly many good changes come from the bottom. But success also breeds success. No one wants to copy me (a nobody). Ben Carson, Herman Cain, Martin L. King, or Bill Gates are better role models of success. Maybe those SUCCESSFUL people can choose better leaders and policies than I could ever elect? We need ideas and involvement from all available resources. But would you trust your retirement savings in the hands of those who have failed with their own investments?

“24 Billion hours of public service work” via job guarantees?
The job guarantee has potential benefits, but will not provide the Trillions of dollars needed to provide the resources to fulfill the wishes and promises of today’s political elite and their media cheerleaders.

The author states many “IMAGINARY” improvements in global usage of resources. The best way to allocate LIMITED resources in a global economy is supply and demand. More demand increases price and quantity. Payment via cheap (or free) money will only DISTORT the efficient allocation of limited resources. Government controls and regulations almost always decrease productivity and efficiency to the detriment of the whole world.

For example, the author surely knows that paying a power company “book value” for an older power plant and replacing it with any other source would produce numerous inefficiencies and ripple effects (unintended consequences) throughout the economy such as labor shortages, copper shortages or price increases in other endeavors (perhaps even better uses for food or medical purposes). To the author’s credit, the power plant was NOT seriously recommended. However, using such simple examples leads to simple thinking by uneducated voters who may push BAD POLICIES on pandering politicians.

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