"Something is rotten in the state of Denmark"
-- Hamlet Act 1, Scene 4 (here for a synopsis)
Why quote Hamlet? Today marked the start of public trading in Zynga, a (or *the*) Facebook gaming company. To the consternation of some, it's falling as I write from the IPO price. You can read the links on the page for further explanation.
But, being something of a Luddite techy (an oxymoron in the manner of "happily married") and Keynesian thinker, I've been dismayed over the last decade or so watching the laissez faire driven destruction of the American economy at the hands of money centered capitalism. Krugman, in today's column, deals once again with the topic, echoing what I said earlier in Part 16 of Dee Feat: inflation ain't happenin'. Now, why it's not happenin' doesn't get explained, for some reason. It's that the money is going into corporate coffers, not middle class consumers. The cash will stay there, and so long as it does, there'll be no growth or inflation. Fat Man likes it that way.
Back to Zynga. The company is another in a long line of unproductive siphons of capital, following LinkedIn and Groupon and the rest. As an aside, it was reported that FedEx is doing a booming business due to internet shopping. So let's see: Main Street gets shut down, and we burn hydrocarbons an order of magnitude more just so little Kimmey can have her Barbie? In no rational economy would this make sense. Zynga is just another private sector redistribution scheme; "money for nothing and the chicks are free".
It's the Distribution, Stupid
Essays on topics economics: monopolists, oligopolists, and oligarchs aren't better decision-makers for the society just because they's rich and they ain't the gummint.
Infinite granularity yields infinite complexity.
Vaccinated ≠ Not Infectious
$536,800,000 MARF™(party like it's 1829)
-- New York Slammers, so far/2024 [GA and The Feds still to come]
Milton was going on about the money supply, so what I said was everything reminds Milton of the money supply. Everything reminds me of sex, but I try to keep it out of my written work.
-- Robert M. Solow, 1924-2023 [Dr. Hemond noted that he made his fortune in the stock market]
-- New York Slammers, so far/2024 [GA and The Feds still to come]
Milton was going on about the money supply, so what I said was everything reminds Milton of the money supply. Everything reminds me of sex, but I try to keep it out of my written work.
-- Robert M. Solow, 1924-2023 [Dr. Hemond noted that he made his fortune in the stock market]
Covid-19 has killed at least
1,123,836 people (as of 20 March 2023, final update)
Buck {Showalter] has always reminded me of something his father once told him:
"The jobs that are easy don't pay very well."
-- Mike Lupica/2023 [and don't qualify them to run anything; sub-GED knuckledraggers take note]
-- Mike Lupica/2023 [and don't qualify them to run anything; sub-GED knuckledraggers take note]
-- Monticello.org [take that, MTG]
-- Marriner Eccles/1951
This week's thought
[The intelligence community] argued that [the restrictive amendment] would cripple the program because they typically use it before there is enough evidence to meet a standard of probable cause for a warrant, like early in investigations when they are trying to learn more about a phone number or an email account found to be in contact with a suspected foreign spy or terrorist. -- Charlie Savage/2024 [IOW, let's catch the thief before the horse is out of the barn - the MARF™(party like it's 1829) traitor's worst nightmare]
About Me
Who I Am
Left wing economist since before it was fashionable
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