Master of Inequality Krugman to Seek 25k per month welfare

Income Inequality Institute Will Pay Paul Krugman $25,000 Per Month

In late February, the City University of New York announced that it had tapped Princeton economist and New York Times blogger Paul Krugman for a distinguished professorship at CUNY’s Graduate Center and its Luxembourg Income Study Center, a research arm devoted to studying income patterns and their effect on inequality.

About that. According to a formal offer letter obtained under New York’s Freedom of Information Law, CUNY intends to pay Krugman $225,000, or $25,000 per month (over two semesters), to “play a modest role in our public events” and “contribute to the build-up” of a new “inequality initiative.” It is not clear, and neither CUNY nor Krugman was able to explain, what “contribute to the build-up” entails.

It’s certainly not teaching. “You will not be expected to teach or supervise students,” the letter informs Professor Krugman, who replies: “I admit that I had to read it several times to be clear … it’s remarkably generous.” (After his first year, Krugman will be required to host a single seminar.)

CUNY, which is publicly funded, pays adjunct professors approximately $3,000 per course. The annual salaries of tenured (but undistinguished) professors, meanwhile, top out at $116,364, according to the most recent salary schedule negotiated by the university system’s faculty union. And those professors are expected to teach and publish. Even David Petraeus, whom CUNY initially offered $150,000, conducted a weekly 3-hour seminar.

Along with the offer letter, CUNY released dozens of emails between Krugman and university officials. “Perhaps I’m being premature or forward,” the Graduate Center’s President, Chase Robinson, tells Krugman in one of them, “but I wanted you to have no doubt that we can provide not just a platform for public interventions and a stimulating academic community­—especially, as you will know, because of our investments in the study of inequality—but also a relatively comfortable perch.”

Which is undeniably true: $225,000 is more than quadruple New York City’s median household income.

Krugman did not respond to requests for comment. When contacted, a CUNY spokesperson told Gawker, “We’ll get back to you by early next week.”

To contact the author of this post, email trotter@gawker.com

Obama Imposes Sanctions, PUTIN TO DUMP DOLLAR? — Andy Hoffman

The next nail in the coffin of the US dollar is going to be when the rest of the world decides to dump the dollar as the reserve currency.

The Bretton Woods arrangement gave the dollar a serious edge- commodities and other global trade was all exchanged in dollars. Oil was expressed in dollars. Foreign nations had to keep dollars just to trade with each other .

Then we closed the “gold window” so we could print money like it was going out of style.

These countries are still holding trillions of our dollars and other debt instruments we created in order to spend more than we actually produced.

If Russia, China, and India team up economically (it’d be a more natural arrangement than what we have) and dump all their dollar holdings during a realignment, what happens?

What happens is our already inflated domestic currency is joined by the trillions of overseas dollars rushing back home. Hyperinflation.

 

Do you have kids you want to teach about real money and wealth?

So I have two kids- aged six and nine as I write this today. Like most parents I’ve thought a lot about how to best teach my kids about the things I’ve learned and their parents views on things. Unlike my own upbringing, we decided that teaching them could never take the form of beatings or spankings and that simply exposing them to learning experiences would be better than constant lectures and rules.

One neat area that came up pretty quick due to our farm and rural lifestyle was “how do we properly compensate the kids for all the hard work they do around here?”

As far as most kids go, my kids have it pretty rough- I mean there are animals to feed, beds to be made, animals to water, hooves to trim, wool to keep clean, dishes to do, floors to sweep, coal to shovel, ashes to go out…

There’s composting to do, gardening, weeding, watering of plants, there’s shoveling of all the “by-product” of keeping animals…Image

A lot of parents would look at these little humans as “free labor”, which is just a fancy word for a “slave”. That won’t work in our voluntaryist household.

A lot of parents would pay an “allowance”. But what is that? Nothing sets a kid up better in my opinion for a life time of welfare than a regular payment compliments of the “big brother/big mother” of the house. We don’t like “welfare words” around here.

In my house, we co-own a lot of stuff, like the animals. The sheep we co-own with each other. The goats belong to my nine year old. The hogs are mine. A person’s room is their property, but my wife and I co-own the flooring and walls. Figuring out who owns what establishes responsibility. Private property, when it is established and respected, is the basis for a healthy and productive society- so why not a household as  well?

If my children want to make money for either spending or saving, they make it exactly like their parents do. I advertise different jobs I need doing around the house or the kids come to me with ideas of something that should be done. We discuss what it will “look like” to have it done (or not) and then we negotiate a price for the services. At first prices swung wildly with both the kids competing against each other for the work and trying to “out bid” the other but before long, cooperation and specialization began to occur.

One kid started making both beds so that the other would help with the goats she owned, and the younger one was too little to shovel the “animal products” over the fence into the trailer so he subcontracted that out. There are just a handful of examples, but you get the idea.

Payday is the best of all. How this works is the kids prepare invoices for the old man for the work they’ve done that week. So why other kids are learning which Pokemon beats the others (or whatever the other kids are up to these days) my kids are learning how to run their own businesses. They know about bidding, invoicing, and management. Right now they don’t have a very broad customer base, just the other people who live in the house, but they have a good basis of how things really work.

When they are getting paid, I give them three different options-

1) Get paid in fiat dollars. They pick this one if they want to buy something immediately.

2) Get paid in junk silver coins. They always end up with a few of these because  some invoices include my bills down to tenths of ounces I owe them. Other times they want to be paid in all junk just because they want their “pokes” to get bigger quicker.

3) Get paid in bullion. They really like those silver Buffalo coins, Chinese Pandas, and Perth Mint’s Kangaroos. Anything with animals on them. Of course, my son apparently has a “thing” for Queen Elizabeth II and goes for anything that has her on it.

 

Are You Preventing Economic Collapse for Your Family? | Silver Doctors

I don’t consider myself a “prepper”; I’m just a normal redneck with goats, sheep, and hogs who hunts and fishes. I guess I do it because it’s how I was raised. We never considered it prepping it was just getting ready for winter. One of the things most preppers and even rural folk fall far short on is food preservation. Even people who grow gardens tend to consume it fresh, and knowledge of preservation like canning is lost. People who hunt and fish are addicted to their freezers and vacuum sealers as well. At my house we can moose, meat, fish and vegetables. We know how to smoke fish so that it lasts as well. Buying lots of cans and keeping them in the garage isn’t really teaching any skill or practicing self-determination…. Hell, even a squirrel can stuff a hole full of acorns. Doesn’t make a squirrel smart.

This is a video about money… Real money vs fiat. If you think learning how to preserve your food supply sounds like a good idea, why not explore ideas about how it preserve wealth? How about videos and books on how to grow your own wealth and not just how to grow vegetables?

We should all be looking at wealth preservation and growth as closely as we look at reloading, marksmanship, bug outs, and other prepping topics. Why just get ready for “collapse”?
Why not get ready for the end of the dollar as the reserve currency of the world? Guess which one is going to happen first?