Rethinking Money: Breaking Up Currencies
from the different-purposes dept
I remember when I was quite young, my father predicted to me that we'd probably see the end of cash within our lifetimes, as all money would move to electronic money in the form of credit cards (or credit card-like interfaces). Every so often this idea has been discussed, but it usually gets shot down by those who like the anonymity of cash (which is one reason why some governments don't like it). So it's interesting to hear via Slashdot that an Estonian economist is recommending that the country go completely electronic as it adopts the Euro. I would imagine there are some issues with doing so (including the fact that cash and coins from other Eurozone countries would inevitably bleed in).
That said, there have been a few other stories lately that have me thinking about the future of money, and I actually could see a way that countries could move in this general direction without actually getting rid of cash entirely. Last year, we wrote about the question of whether or not the world would move to a single world currency, while simultaneously considering whether or not we'd actually start to see growth in very localized currencies, which are increasingly common in various cities to encourage people to shop locally. Again, neither situation seemed ideal, but were definitely interesting to think about.
Recently, however, Umair Haque wrote up an interesting post, positing that money could be split into three types of currencies which serve three separate functions. The idea is not to break them up by region -- as described above -- but by function. Umair's writeup is a bit opaque, but he notes that currency is used as a store of value, as a medium of exchange and as a unit of account, but those functions can be separated. The end result, would be as follows:
You have three kinds of notes in your wallet. The first you use at the grocery store. The second, at the bank and in the financial markets. The third, between your employer, the state, and public services. Each has very different volatilities and trajectories, because each has very different levels of supply, demand which are, crucially, independent from one another--but interdependent on real wealth, long-run productivity, etc.
Now, this may be difficult to comprehend in the abstract. How would that actually work and why would each have different volatilities and trajectories? Well, the good news is that we actually have a real world example of this. A few weeks back the always excellent Planet Money team at NPR did a wonderful episode on how "fake money" saved Brazil from rampant inflation. The story is fascinating, and I highly recommend listening to it. But, it was basically a simplified version of what Haque is suggesting. Brazil had crazy inflation, so crazy that every day, stores had to remark their entire stock to raise prices, and people would rush ahead of the clerk with the price stickers to get "yesterday's" prices.
The way Brazil "solved" the issue was to effectively issue a made up new currency to handle some functions of money: mainly the unit of account. You couldn't actually get paid in it, or pay with it, but all the goods in all the stores were suddenly priced with it. Then, rather than having to change the prices every day, each day, the government would put out a rate card with the exchange rate, and people would work off of that. Now, you might say this shouldn't make a difference, but it actually did. It got people thinking in terms of the new "stable" rates, and got them past their general distrust of monetary value. (One side note: this upset some of the wealthy, who were simply making a ton in interest -- and they complained about how this new system meant they actually had to innovate and invest to make money -- which reminded me of certain industries in the US who like to avoid innovating and investing themselves...).
Either way, you had a situation where the currency for prices was perfectly stable at the same time the other currency was still dealing with massive inflation. As Haque points out, you have different currencies with different volatility. Eventually, Brazil switched entirely over to this new currency and made the fake currency a real currency, but there's no reason why you couldn't keep multiple currencies, and break them up into a third bucket as well, as Haque suggests.
I can definitely see how there could be some value in doing so, providing a lot more flexibility, and removing certain risk elements. However, I do wonder if the greater level of confusion might be a problem for many, and lead to huge potential arbitrage opportunities, where the more financially sophisticated folks took advantage of much less financially sophisticated individuals, to swap these different levels of currency around. I'm not convinced either way on this, but it does seem fun to think about the possibilities...
32 Comments | Leave a Comment..
Marc Theissen recently asked some very important questions about where the Service Employees International Union (SEIU) is getting the mountains of cash that it spends on Democrat political campaigns. He finds that it is coming from foreign sources, but the SEIU is refusing to yield to requests for transparency.
If the SEIU is getting the millions of dollars it is spending on Democrats from foreign sources, this should put a major dent in the alarmist claims that Obama has been making about the U.S. Chamber of Commerce supposedly getting its money from outside the country — a charge that was resoundingly refuted. After all, if one of Obama’s biggest left-wing campaign supporters is suffused with foreign cash, why should it be such a big deal if anyone else is?
Sadly, the Old Media will never play up this aspect of Obama’s hypocrisy, but that is another subject.
In any case, Theissen asked the SEIU where its political cash was coming from because federal financial reporting records seemed to prove that it could not have been coming solely from the dues of American union members. Since the SEIU has thousands of members in foreign nations, Theissen wondered how that factored in.
Initially the SEIU lied to him and claimed that “most” of its political cash came from domestic dues payers. But Theissen persisted with his doubts. It wasn’t long before the SEIU admitted that they were lying previously.
“Most” of the money the SEIU uses for “political purposes” does not come from [the union's Committee on Political Education] COPE (to which you must be a U.S. citizen or permanent legal resident to contribute). “Most” of the SEIU’s political spending, he now admits, comes from other accounts.
Theissen still has more questions, ones that the SEIU is still stonewalling.
And who funds those other accounts? “Our own members,” Youngdahl writes. Well, the SEIU’s members include foreign workers and — as an SEIU executive boasts in this video — illegal immigrants. Youngdahl has twice failed to answer my question, so I will ask it a third time: Do the SEIU’s foreign workers and illegal immigrant members (who are by definition foreign nationals) contribute any money to the accounts that the union uses for “political purposes”?
It seems pretty clear that the SEIU is using the dues from illegal workers in the U.S. and foreign workers for its domestic political operations and that those funds are directed solely toward Obama and his Democrats.
Hypocrites extraordinaire.
bench craft company rip off
NMA <b>News</b> | Simpsons | Simpsons Fox <b>News</b> | Mediaite
Taiwan's NMA News has taken on the battle between The Simpsons over at Fox Broadcasting and their conservative corporate cousins at Fox News, depicting both of The Simpsons recent attacks on the network as well as Bill O'Reilly's ...
<b>News</b> Alert: Big Growth for Internet Ads Through 2014: Tech <b>News</b> «
eMarketer, a New York-based research firm estimates spending on US internet advertisements will grow 13.9 percent to $25.8 billion for the full year. It expects a 10.5 percent increase in US online ad spending in 2011, ...
AMERICAblog <b>News</b>: NYT: Obama to agree to continue all Bush tax <b>...</b>
News and opinion about US politics from a liberal perspective.
bench craft company rip off
NMA <b>News</b> | Simpsons | Simpsons Fox <b>News</b> | Mediaite
Taiwan's NMA News has taken on the battle between The Simpsons over at Fox Broadcasting and their conservative corporate cousins at Fox News, depicting both of The Simpsons recent attacks on the network as well as Bill O'Reilly's ...
<b>News</b> Alert: Big Growth for Internet Ads Through 2014: Tech <b>News</b> «
eMarketer, a New York-based research firm estimates spending on US internet advertisements will grow 13.9 percent to $25.8 billion for the full year. It expects a 10.5 percent increase in US online ad spending in 2011, ...
AMERICAblog <b>News</b>: NYT: Obama to agree to continue all Bush tax <b>...</b>
News and opinion about US politics from a liberal perspective.
bench craft company rip off
NMA <b>News</b> | Simpsons | Simpsons Fox <b>News</b> | Mediaite
Taiwan's NMA News has taken on the battle between The Simpsons over at Fox Broadcasting and their conservative corporate cousins at Fox News, depicting both of The Simpsons recent attacks on the network as well as Bill O'Reilly's ...
<b>News</b> Alert: Big Growth for Internet Ads Through 2014: Tech <b>News</b> «
eMarketer, a New York-based research firm estimates spending on US internet advertisements will grow 13.9 percent to $25.8 billion for the full year. It expects a 10.5 percent increase in US online ad spending in 2011, ...
AMERICAblog <b>News</b>: NYT: Obama to agree to continue all Bush tax <b>...</b>
News and opinion about US politics from a liberal perspective.
bench craft company rip off
NMA <b> Noticias </ b> | Los Simpson | Los Simpson Fox <b> Noticias </ b> | NMA MediaiteTaiwan News ha dado a la batalla entre Los Simpson en la Fox Broadcasting y sus primos corporativos conservadora de Fox News, que representa tanto de los ataques recientes Simpson en la red, así como Bill O'Reilly ...
<b> Noticias </ b> Alerta: gran crecimiento para los anuncios de Internet a través de 2014: Tecnología <b> Noticias </ b> «eMarketer, una firma de investigación de Nueva York, estima el gasto en anuncios de Internet en EE.UU. crecerá 13,9 por ciento, a 25,8 mil millones dólares para todo el año. Se espera un aumento del 10,5 por ciento en el gasto de EE.UU. de publicidad en línea en 2011, ...
AMERICAblog <b> Noticias </ b>: NYT: Obama llegar a un acuerdo para seguir todos los fiscales de Bush <b> ...</ b> Noticias y opinión sobre política de los EE.UU. desde una perspectiva liberal.
bench craft company rip off
NMA <b>News</b> | Simpsons | Simpsons Fox <b>News</b> | Mediaite
Taiwan's NMA News has taken on the battle between The Simpsons over at Fox Broadcasting and their conservative corporate cousins at Fox News, depicting both of The Simpsons recent attacks on the network as well as Bill O'Reilly's ...
<b>News</b> Alert: Big Growth for Internet Ads Through 2014: Tech <b>News</b> «
eMarketer, a New York-based research firm estimates spending on US internet advertisements will grow 13.9 percent to $25.8 billion for the full year. It expects a 10.5 percent increase in US online ad spending in 2011, ...
AMERICAblog <b>News</b>: NYT: Obama to agree to continue all Bush tax <b>...</b>
News and opinion about US politics from a liberal perspective.
bench craft company rip off
Rethinking Money: Breaking Up Currencies
from the different-purposes dept
I remember when I was quite young, my father predicted to me that we'd probably see the end of cash within our lifetimes, as all money would move to electronic money in the form of credit cards (or credit card-like interfaces). Every so often this idea has been discussed, but it usually gets shot down by those who like the anonymity of cash (which is one reason why some governments don't like it). So it's interesting to hear via Slashdot that an Estonian economist is recommending that the country go completely electronic as it adopts the Euro. I would imagine there are some issues with doing so (including the fact that cash and coins from other Eurozone countries would inevitably bleed in).
That said, there have been a few other stories lately that have me thinking about the future of money, and I actually could see a way that countries could move in this general direction without actually getting rid of cash entirely. Last year, we wrote about the question of whether or not the world would move to a single world currency, while simultaneously considering whether or not we'd actually start to see growth in very localized currencies, which are increasingly common in various cities to encourage people to shop locally. Again, neither situation seemed ideal, but were definitely interesting to think about.
Recently, however, Umair Haque wrote up an interesting post, positing that money could be split into three types of currencies which serve three separate functions. The idea is not to break them up by region -- as described above -- but by function. Umair's writeup is a bit opaque, but he notes that currency is used as a store of value, as a medium of exchange and as a unit of account, but those functions can be separated. The end result, would be as follows:
You have three kinds of notes in your wallet. The first you use at the grocery store. The second, at the bank and in the financial markets. The third, between your employer, the state, and public services. Each has very different volatilities and trajectories, because each has very different levels of supply, demand which are, crucially, independent from one another--but interdependent on real wealth, long-run productivity, etc.
Now, this may be difficult to comprehend in the abstract. How would that actually work and why would each have different volatilities and trajectories? Well, the good news is that we actually have a real world example of this. A few weeks back the always excellent Planet Money team at NPR did a wonderful episode on how "fake money" saved Brazil from rampant inflation. The story is fascinating, and I highly recommend listening to it. But, it was basically a simplified version of what Haque is suggesting. Brazil had crazy inflation, so crazy that every day, stores had to remark their entire stock to raise prices, and people would rush ahead of the clerk with the price stickers to get "yesterday's" prices.
The way Brazil "solved" the issue was to effectively issue a made up new currency to handle some functions of money: mainly the unit of account. You couldn't actually get paid in it, or pay with it, but all the goods in all the stores were suddenly priced with it. Then, rather than having to change the prices every day, each day, the government would put out a rate card with the exchange rate, and people would work off of that. Now, you might say this shouldn't make a difference, but it actually did. It got people thinking in terms of the new "stable" rates, and got them past their general distrust of monetary value. (One side note: this upset some of the wealthy, who were simply making a ton in interest -- and they complained about how this new system meant they actually had to innovate and invest to make money -- which reminded me of certain industries in the US who like to avoid innovating and investing themselves...).
Either way, you had a situation where the currency for prices was perfectly stable at the same time the other currency was still dealing with massive inflation. As Haque points out, you have different currencies with different volatility. Eventually, Brazil switched entirely over to this new currency and made the fake currency a real currency, but there's no reason why you couldn't keep multiple currencies, and break them up into a third bucket as well, as Haque suggests.
I can definitely see how there could be some value in doing so, providing a lot more flexibility, and removing certain risk elements. However, I do wonder if the greater level of confusion might be a problem for many, and lead to huge potential arbitrage opportunities, where the more financially sophisticated folks took advantage of much less financially sophisticated individuals, to swap these different levels of currency around. I'm not convinced either way on this, but it does seem fun to think about the possibilities...
32 Comments | Leave a Comment..
Marc Theissen recently asked some very important questions about where the Service Employees International Union (SEIU) is getting the mountains of cash that it spends on Democrat political campaigns. He finds that it is coming from foreign sources, but the SEIU is refusing to yield to requests for transparency.
If the SEIU is getting the millions of dollars it is spending on Democrats from foreign sources, this should put a major dent in the alarmist claims that Obama has been making about the U.S. Chamber of Commerce supposedly getting its money from outside the country — a charge that was resoundingly refuted. After all, if one of Obama’s biggest left-wing campaign supporters is suffused with foreign cash, why should it be such a big deal if anyone else is?
Sadly, the Old Media will never play up this aspect of Obama’s hypocrisy, but that is another subject.
In any case, Theissen asked the SEIU where its political cash was coming from because federal financial reporting records seemed to prove that it could not have been coming solely from the dues of American union members. Since the SEIU has thousands of members in foreign nations, Theissen wondered how that factored in.
Initially the SEIU lied to him and claimed that “most” of its political cash came from domestic dues payers. But Theissen persisted with his doubts. It wasn’t long before the SEIU admitted that they were lying previously.
“Most” of the money the SEIU uses for “political purposes” does not come from [the union's Committee on Political Education] COPE (to which you must be a U.S. citizen or permanent legal resident to contribute). “Most” of the SEIU’s political spending, he now admits, comes from other accounts.
Theissen still has more questions, ones that the SEIU is still stonewalling.
And who funds those other accounts? “Our own members,” Youngdahl writes. Well, the SEIU’s members include foreign workers and — as an SEIU executive boasts in this video — illegal immigrants. Youngdahl has twice failed to answer my question, so I will ask it a third time: Do the SEIU’s foreign workers and illegal immigrant members (who are by definition foreign nationals) contribute any money to the accounts that the union uses for “political purposes”?
It seems pretty clear that the SEIU is using the dues from illegal workers in the U.S. and foreign workers for its domestic political operations and that those funds are directed solely toward Obama and his Democrats.
Hypocrites extraordinaire.
bench craft company rip off
NMA <b>News</b> | Simpsons | Simpsons Fox <b>News</b> | Mediaite
Taiwan's NMA News has taken on the battle between The Simpsons over at Fox Broadcasting and their conservative corporate cousins at Fox News, depicting both of The Simpsons recent attacks on the network as well as Bill O'Reilly's ...
<b>News</b> Alert: Big Growth for Internet Ads Through 2014: Tech <b>News</b> «
eMarketer, a New York-based research firm estimates spending on US internet advertisements will grow 13.9 percent to $25.8 billion for the full year. It expects a 10.5 percent increase in US online ad spending in 2011, ...
AMERICAblog <b>News</b>: NYT: Obama to agree to continue all Bush tax <b>...</b>
News and opinion about US politics from a liberal perspective.
bench craft company rip off
NMA <b>News</b> | Simpsons | Simpsons Fox <b>News</b> | Mediaite
Taiwan's NMA News has taken on the battle between The Simpsons over at Fox Broadcasting and their conservative corporate cousins at Fox News, depicting both of The Simpsons recent attacks on the network as well as Bill O'Reilly's ...
<b>News</b> Alert: Big Growth for Internet Ads Through 2014: Tech <b>News</b> «
eMarketer, a New York-based research firm estimates spending on US internet advertisements will grow 13.9 percent to $25.8 billion for the full year. It expects a 10.5 percent increase in US online ad spending in 2011, ...
AMERICAblog <b>News</b>: NYT: Obama to agree to continue all Bush tax <b>...</b>
News and opinion about US politics from a liberal perspective.
bench craft company rip off
NMA <b>News</b> | Simpsons | Simpsons Fox <b>News</b> | Mediaite
Taiwan's NMA News has taken on the battle between The Simpsons over at Fox Broadcasting and their conservative corporate cousins at Fox News, depicting both of The Simpsons recent attacks on the network as well as Bill O'Reilly's ...
<b>News</b> Alert: Big Growth for Internet Ads Through 2014: Tech <b>News</b> «
eMarketer, a New York-based research firm estimates spending on US internet advertisements will grow 13.9 percent to $25.8 billion for the full year. It expects a 10.5 percent increase in US online ad spending in 2011, ...
AMERICAblog <b>News</b>: NYT: Obama to agree to continue all Bush tax <b>...</b>
News and opinion about US politics from a liberal perspective.
bench craft company rip off
NMA <b>News</b> | Simpsons | Simpsons Fox <b>News</b> | Mediaite
Taiwan's NMA News has taken on the battle between The Simpsons over at Fox Broadcasting and their conservative corporate cousins at Fox News, depicting both of The Simpsons recent attacks on the network as well as Bill O'Reilly's ...
<b>News</b> Alert: Big Growth for Internet Ads Through 2014: Tech <b>News</b> «
eMarketer, a New York-based research firm estimates spending on US internet advertisements will grow 13.9 percent to $25.8 billion for the full year. It expects a 10.5 percent increase in US online ad spending in 2011, ...
AMERICAblog <b>News</b>: NYT: Obama to agree to continue all Bush tax <b>...</b>
News and opinion about US politics from a liberal perspective.
bench craft company rip off
NMA <b>News</b> | Simpsons | Simpsons Fox <b>News</b> | Mediaite
Taiwan's NMA News has taken on the battle between The Simpsons over at Fox Broadcasting and their conservative corporate cousins at Fox News, depicting both of The Simpsons recent attacks on the network as well as Bill O'Reilly's ...
<b>News</b> Alert: Big Growth for Internet Ads Through 2014: Tech <b>News</b> «
eMarketer, a New York-based research firm estimates spending on US internet advertisements will grow 13.9 percent to $25.8 billion for the full year. It expects a 10.5 percent increase in US online ad spending in 2011, ...
AMERICAblog <b>News</b>: NYT: Obama to agree to continue all Bush tax <b>...</b>
News and opinion about US politics from a liberal perspective.
bench craft company rip off
NMA <b>News</b> | Simpsons | Simpsons Fox <b>News</b> | Mediaite
Taiwan's NMA News has taken on the battle between The Simpsons over at Fox Broadcasting and their conservative corporate cousins at Fox News, depicting both of The Simpsons recent attacks on the network as well as Bill O'Reilly's ...
<b>News</b> Alert: Big Growth for Internet Ads Through 2014: Tech <b>News</b> «
eMarketer, a New York-based research firm estimates spending on US internet advertisements will grow 13.9 percent to $25.8 billion for the full year. It expects a 10.5 percent increase in US online ad spending in 2011, ...
AMERICAblog <b>News</b>: NYT: Obama to agree to continue all Bush tax <b>...</b>
News and opinion about US politics from a liberal perspective.
bench craft company rip off
Rethinking Money: Breaking Up Currencies
from the different-purposes dept
I remember when I was quite young, my father predicted to me that we'd probably see the end of cash within our lifetimes, as all money would move to electronic money in the form of credit cards (or credit card-like interfaces). Every so often this idea has been discussed, but it usually gets shot down by those who like the anonymity of cash (which is one reason why some governments don't like it). So it's interesting to hear via Slashdot that an Estonian economist is recommending that the country go completely electronic as it adopts the Euro. I would imagine there are some issues with doing so (including the fact that cash and coins from other Eurozone countries would inevitably bleed in).
That said, there have been a few other stories lately that have me thinking about the future of money, and I actually could see a way that countries could move in this general direction without actually getting rid of cash entirely. Last year, we wrote about the question of whether or not the world would move to a single world currency, while simultaneously considering whether or not we'd actually start to see growth in very localized currencies, which are increasingly common in various cities to encourage people to shop locally. Again, neither situation seemed ideal, but were definitely interesting to think about.
Recently, however, Umair Haque wrote up an interesting post, positing that money could be split into three types of currencies which serve three separate functions. The idea is not to break them up by region -- as described above -- but by function. Umair's writeup is a bit opaque, but he notes that currency is used as a store of value, as a medium of exchange and as a unit of account, but those functions can be separated. The end result, would be as follows:
You have three kinds of notes in your wallet. The first you use at the grocery store. The second, at the bank and in the financial markets. The third, between your employer, the state, and public services. Each has very different volatilities and trajectories, because each has very different levels of supply, demand which are, crucially, independent from one another--but interdependent on real wealth, long-run productivity, etc.
Now, this may be difficult to comprehend in the abstract. How would that actually work and why would each have different volatilities and trajectories? Well, the good news is that we actually have a real world example of this. A few weeks back the always excellent Planet Money team at NPR did a wonderful episode on how "fake money" saved Brazil from rampant inflation. The story is fascinating, and I highly recommend listening to it. But, it was basically a simplified version of what Haque is suggesting. Brazil had crazy inflation, so crazy that every day, stores had to remark their entire stock to raise prices, and people would rush ahead of the clerk with the price stickers to get "yesterday's" prices.
The way Brazil "solved" the issue was to effectively issue a made up new currency to handle some functions of money: mainly the unit of account. You couldn't actually get paid in it, or pay with it, but all the goods in all the stores were suddenly priced with it. Then, rather than having to change the prices every day, each day, the government would put out a rate card with the exchange rate, and people would work off of that. Now, you might say this shouldn't make a difference, but it actually did. It got people thinking in terms of the new "stable" rates, and got them past their general distrust of monetary value. (One side note: this upset some of the wealthy, who were simply making a ton in interest -- and they complained about how this new system meant they actually had to innovate and invest to make money -- which reminded me of certain industries in the US who like to avoid innovating and investing themselves...).
Either way, you had a situation where the currency for prices was perfectly stable at the same time the other currency was still dealing with massive inflation. As Haque points out, you have different currencies with different volatility. Eventually, Brazil switched entirely over to this new currency and made the fake currency a real currency, but there's no reason why you couldn't keep multiple currencies, and break them up into a third bucket as well, as Haque suggests.
I can definitely see how there could be some value in doing so, providing a lot more flexibility, and removing certain risk elements. However, I do wonder if the greater level of confusion might be a problem for many, and lead to huge potential arbitrage opportunities, where the more financially sophisticated folks took advantage of much less financially sophisticated individuals, to swap these different levels of currency around. I'm not convinced either way on this, but it does seem fun to think about the possibilities...
32 Comments | Leave a Comment..
Marc Theissen recently asked some very important questions about where the Service Employees International Union (SEIU) is getting the mountains of cash that it spends on Democrat political campaigns. He finds that it is coming from foreign sources, but the SEIU is refusing to yield to requests for transparency.
If the SEIU is getting the millions of dollars it is spending on Democrats from foreign sources, this should put a major dent in the alarmist claims that Obama has been making about the U.S. Chamber of Commerce supposedly getting its money from outside the country — a charge that was resoundingly refuted. After all, if one of Obama’s biggest left-wing campaign supporters is suffused with foreign cash, why should it be such a big deal if anyone else is?
Sadly, the Old Media will never play up this aspect of Obama’s hypocrisy, but that is another subject.
In any case, Theissen asked the SEIU where its political cash was coming from because federal financial reporting records seemed to prove that it could not have been coming solely from the dues of American union members. Since the SEIU has thousands of members in foreign nations, Theissen wondered how that factored in.
Initially the SEIU lied to him and claimed that “most” of its political cash came from domestic dues payers. But Theissen persisted with his doubts. It wasn’t long before the SEIU admitted that they were lying previously.
“Most” of the money the SEIU uses for “political purposes” does not come from [the union's Committee on Political Education] COPE (to which you must be a U.S. citizen or permanent legal resident to contribute). “Most” of the SEIU’s political spending, he now admits, comes from other accounts.
Theissen still has more questions, ones that the SEIU is still stonewalling.
And who funds those other accounts? “Our own members,” Youngdahl writes. Well, the SEIU’s members include foreign workers and — as an SEIU executive boasts in this video — illegal immigrants. Youngdahl has twice failed to answer my question, so I will ask it a third time: Do the SEIU’s foreign workers and illegal immigrant members (who are by definition foreign nationals) contribute any money to the accounts that the union uses for “political purposes”?
It seems pretty clear that the SEIU is using the dues from illegal workers in the U.S. and foreign workers for its domestic political operations and that those funds are directed solely toward Obama and his Democrats.
Hypocrites extraordinaire.
bench craft company rip off
NMA <b>News</b> | Simpsons | Simpsons Fox <b>News</b> | Mediaite
Taiwan's NMA News has taken on the battle between The Simpsons over at Fox Broadcasting and their conservative corporate cousins at Fox News, depicting both of The Simpsons recent attacks on the network as well as Bill O'Reilly's ...
<b>News</b> Alert: Big Growth for Internet Ads Through 2014: Tech <b>News</b> «
eMarketer, a New York-based research firm estimates spending on US internet advertisements will grow 13.9 percent to $25.8 billion for the full year. It expects a 10.5 percent increase in US online ad spending in 2011, ...
AMERICAblog <b>News</b>: NYT: Obama to agree to continue all Bush tax <b>...</b>
News and opinion about US politics from a liberal perspective.
bench craft company rip off
NMA <b>News</b> | Simpsons | Simpsons Fox <b>News</b> | Mediaite
Taiwan's NMA News has taken on the battle between The Simpsons over at Fox Broadcasting and their conservative corporate cousins at Fox News, depicting both of The Simpsons recent attacks on the network as well as Bill O'Reilly's ...
<b>News</b> Alert: Big Growth for Internet Ads Through 2014: Tech <b>News</b> «
eMarketer, a New York-based research firm estimates spending on US internet advertisements will grow 13.9 percent to $25.8 billion for the full year. It expects a 10.5 percent increase in US online ad spending in 2011, ...
AMERICAblog <b>News</b>: NYT: Obama to agree to continue all Bush tax <b>...</b>
News and opinion about US politics from a liberal perspective.
bench craft company rip off
NMA <b>News</b> | Simpsons | Simpsons Fox <b>News</b> | Mediaite
Taiwan's NMA News has taken on the battle between The Simpsons over at Fox Broadcasting and their conservative corporate cousins at Fox News, depicting both of The Simpsons recent attacks on the network as well as Bill O'Reilly's ...
<b>News</b> Alert: Big Growth for Internet Ads Through 2014: Tech <b>News</b> «
eMarketer, a New York-based research firm estimates spending on US internet advertisements will grow 13.9 percent to $25.8 billion for the full year. It expects a 10.5 percent increase in US online ad spending in 2011, ...
AMERICAblog <b>News</b>: NYT: Obama to agree to continue all Bush tax <b>...</b>
News and opinion about US politics from a liberal perspective.
bench craft company rip off
NMA <b>News</b> | Simpsons | Simpsons Fox <b>News</b> | Mediaite
Taiwan's NMA News has taken on the battle between The Simpsons over at Fox Broadcasting and their conservative corporate cousins at Fox News, depicting both of The Simpsons recent attacks on the network as well as Bill O'Reilly's ...
<b>News</b> Alert: Big Growth for Internet Ads Through 2014: Tech <b>News</b> «
eMarketer, a New York-based research firm estimates spending on US internet advertisements will grow 13.9 percent to $25.8 billion for the full year. It expects a 10.5 percent increase in US online ad spending in 2011, ...
AMERICAblog <b>News</b>: NYT: Obama to agree to continue all Bush tax <b>...</b>
News and opinion about US politics from a liberal perspective.
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