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June 28, 2022 

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FALLACY OF PERSONAL ATTACK: The logical fallacy of arguing that something is bad because someone "associated" with the thing is ugly, has a funny nose, drives a foreign car, regularly watches daytime soap operas, or wears outdated clothing. This fallacy is rampant in the political arena. While some politicians might have you believe that only good people propose good policies, while bad people have bad policies. The fact of the matter is that good people propose bad policies and bad people propose good policies.

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UNVERIFIABLE AXIOM: A basic precondition or assumption underlying a theory that can not be tested against real world data, but must accepted without verification. Unverifiable axioms are commonly derived from personal beliefs, political views, and cultural values.

     See also | axiom | assumption | theory | world view | cause and effect | science | scientific method | economic analysis |


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NET INTEREST

The official item in the National Income and Product Accounts maintained by the Bureau of Economics Analysis measuring interest earned by the household sector for supplying capital services. This is one of five official factor payments making up national income. The other four are compensation of employees, rental income of persons, corporate profits, and proprietors' income. Net interest is usually less than 10 percent of national income, typically in the 6 to 8 percent range.

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Today, you are likely to spend a great deal of time searching for rummage sales seeking to buy either a how-to book on home remodeling or a tall storage cabinet with five shelves and a secure lock. Be on the lookout for vindictive digital clocks with revenge on their minds.
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John Maynard Keynes was born the same year Karl Marx died.
"I do not believe in a fate that will fall on us no matter what we do. I do believe in a fate that will fall on us if we do nothing. "

-- Ronald Reagan, 40th US president

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