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Forum Post: How about A New National Holiday, Rent-Seeking Holiday, to call Attention to the Problem

Posted 1 year ago on Jan. 24, 2013, 4:25 p.m. EST by Middleaged (5140)
This content is user submitted and not an official statement

How about A New National Holiday, Rent-Seeking Holiday, to call Attention to the Problem, and Get National Education about the Grave Issues that has set upon us all.

The Problem: Much of Federal statistics on GDP include financial GDP and include money spent in Financial Schemes like Derivatives and Wall Street Gambling. IMO media focuses only on GDP for economic health.

According to Wikipedia:

In economics, rent-seeking is an attempt to obtain economic rent by manipulating the social or political environment in which economic activities occur, rather than by creating new wealth. One example is spending money on political lobbying in order to be given a share of wealth that has already been created. A famous example of rent-seeking is the limiting of access to lucrative occupations, as by medieval guilds or modern state certifications and licensures. People accused of rent seeking typically argue that they are indeed creating new wealth (or preventing the reduction of old wealth) by improving quality controls, guaranteeing that charlatans do not prey on a gullible public, and preventing bubbles.

Many current studies of rent-seeking focus on efforts to capture various monopoly privileges stemming from government regulation of a market. The term itself derives, however, from the far older practice of appropriating a portion of production by gaining ownership or control of land.

https://en.wikipedia.org/wiki/Rent-seeking

Alternatively: How about a National Holiday calling attention to GDP and how by itself it doesn't tell us anything about the Health Of the US Economy.

18 Comments

18 Comments


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[-] 1 points by inclusionman (7064) 1 year ago

Kinda deep in the weeds but I can support your holiday. Can I have a drink to celebrate on your holiday?

[-] 1 points by Middleaged (5140) 1 year ago

Well, as long as people know and talk about what Middlemen do in our economy ... as long as they think what a drag on the Economy Rent-Seeking is.....

Hey lots of people love to sign, dance, celebrate, ... how can we stop them... and why would we want to stop good food, and celebrations.

[-] 2 points by inclusionman (7064) 1 year ago

LOL, Sounds like a good idea.effort. Luck!

[-] 0 points by DKAtoday (22310) from Coon Rapids, MN 1 year ago

2 day event ? - the 2nd day being a national jubilee?

[-] 1 points by Middleaged (5140) 1 year ago

Hm... Maybe we should ask for National Jubilee Holiday First ... and they can say part of the reason is "Rent_Seeking".

Just think of all the people that work in the US adding no Value to Production?

1) Tax Lobbyist
2) Tax Lawyers
3) Lawywers in General
4) Tax Accountants
5) Financial managers
6) Anyone who works in TBTF Bank
7) US Congress
8) Anyone who works in SEC, FDIC, CFTC, OFHEO, OCC
9) Anyone who works in one of the branches of the Federal Reserve or the Federal Reserve Board
10) Alan Greenspan whatever he is doing today
11) Hank Paulson
12) Anyone that works as an Economist for the Federal Government
13) Eric Holder
14) Anyone that Worked in OTS before closed
15) Anyone in Financial Stability Oversight Council (FSOC) and the Office of Financial Research

[-] 0 points by DKAtoday (22310) from Coon Rapids, MN 1 year ago

You forgot the practically useless EPA and FDA - not that they don't have a valid use - just that they seem unable to be useFULL.

[-] 0 points by DKAtoday (22310) from Coon Rapids, MN 1 year ago

lol - #8 sad but true. Quite the winners list - Hey?

[-] 1 points by Middleaged (5140) 1 year ago

Wienner List as in Hot dog list. Wasn't sure how to list DOJ, but we should add Eric Holder.

[-] 0 points by DKAtoday (22310) from Coon Rapids, MN 1 year ago

Ummm - I think they exist - at least for funding - have they ever done anything? Urban legend for the most part aren't they?

[-] 1 points by Middleaged (5140) 1 year ago

Ja, man, das ist die deutsche, German, Finance Police. Very aggressive. You don't want them looking at you, man. You might disappear into Guantanamo...

[-] 0 points by DKAtoday (22310) from Coon Rapids, MN 1 year ago

Ahhh yes - DHS - useless fucks - I mean should they not go after domestic terrorists? Fossil Fuel Wallstreet Boehner and associates.............

[-] 1 points by Middleaged (5140) 1 year ago

Bush - Cheney in 2013... DHS to Guantanamo. Und we have veys of making you talk.... Achtung!

[-] 0 points by DKAtoday (22310) from Coon Rapids, MN 1 year ago

Hhmmm waterboarding - I wonder - I mean I live in the land of 10,000 humidifiers/lakes - - so yeah in the summertime it can be like trying to breathe water - to do that to someone intentionally? No - not cool dude.

DHS = a real threat to society/humanity.

[-] 1 points by Middleaged (5140) 1 year ago

DHS = De-Humanizing Society

[-] 0 points by DKAtoday (22310) from Coon Rapids, MN 1 year ago

Ahhh - you saw that too? Shock Doctrine in action.

[-] 1 points by Middleaged (5140) 1 year ago

I'm just free associating. Not sure where I am getting the ideas from. Well you know AJ has been putting stuff out for quiet a while on TSA, and DHS. Ah, Naomi Klein, yes have seen some video from her, Shock Doctrine.

https://en.wikipedia.org/wiki/The_Shock_Doctrine

The book argues that the free market policies of Nobel Laureate Milton Friedman have risen to prominence in some countries because they were pushed through while the citizens were reacting to disasters or upheavals. It is implied that some man-made crises, such as the Falklands war, may have been created with the intention of pushing through these unpopular reforms in their wake.

[-] 0 points by DKAtoday (22310) from Coon Rapids, MN 1 year ago

Don't know about the falklands - but there are plenty of other places that have been manipulated - one way or another.

[-] 1 points by Middleaged (5140) 1 year ago

Sorry that was just from Wiki. They talk about other disasters.