Nat "sweet water" clifton

The Harlem Globetrotters are one of  the best franchises in the history of basketball. They are so prestigious that they were inducted to the Naismith Hall of Fame sharing that honor only with two other teams. Unfortunately they have done some shameful things in the past. To this player especially called Nat "Sweetwater" Clifton. He got into arguments with their coach Abe Saperstein about his relationship with the other teammates. An example was that Abe divided the earnings of the game the Globetrotters played into sevenths. A 5/7 went to the teams evenly and Abe kept the rest. Because of these frequent arguments with Sweetwater, when the New York Knicks offered to buy his contract, not only did Saperstein jump at the chance he pulled one last dirty trick. Reportedly by Saperstein, New York offered to buy Sweetwater's contract for $5,000 and he gave half of it to Sweetwater. Years later Sweetwater discovered that the Knicks really bought his contract for $20,000 and was only given $2,500. This all happened back in 1950 so $20,000 may not appear to be a large amount but when converted to 2013 dollars his contract was worth about $141,844. Sweetwater was truly given $17,730.50. Sweetwater was given about 12.5% having Saperstein pocket 87.5% or about $124,113.50 in today's 2013 dollars. 

My favorite NBA players and their rookie contracts

 "Pistol" Pete Maravich was one of the best players in NBA history. He was the youngest player to enter the hall of fame, named one of the top 50 greatest players in NBA history, and at the time he was drafted, the highest rookie contract ever. His contract was $1.9 million for 5 years.  Using the GDP deflator of 1970 his contract turns to about $8.18966 million for 5 years. Now this top 50 player had a rookie contract in our 2013 dollars of about $1.637932 million per year.

Earvin "Magic" Johnson is a top 50 player who won has 5 NBA championship rings, a 3 time NBA finals MVP, a 3 time NBA MVP, a 12 time NBA all star, the per game assist leader, a 2 time NBA all star MVP (once while he was retired), and on 9 all NBA first team's. Per game in the regular season he averaged 19.5 ppg, 11.2 apg, and 7.2 rpg. Just 2.8 rpg away from a triple double per game. His rookie contract reflects his entire career, phenomenal. At the time he signed a contract of $25 million for 25 years. Using the GDP deflator of 1980 his contract jumps to about $54.23 million for 25 years to come to a per year of about $2.1692 million a year.

 Michael Jordan is the one of two players to be on a team that has "3peated" twice and the other being his teammate Scottie Pippen. He is the points per game leader, the second of two players ever to score over 3,000 points in one season. He won 2 NBA all star slam dunk contests along with being a 6 time finals MVP and belonging to a team that when they did reach the finals, they both never lost and also never played a seventh game to win. In his rookie year like his contract was great. Scoring 28.2 ppg, at    51.5 FG%. His contract was for $6 million for 5 years and converted to 2013 dollars he had about $10.6875667 million for 5 years. He earned about $2.137 million a year.

My favorite basketball player of all time .... Larry "Legend". Larry Bird was at least to me the greatest player ever to play in the NBA without question. He personified hustle, consistency, skill, desire, and winning in general. The Legend scored 24.3 ppg, 10.0 rpg, 6.3 apg, 1.7 spg, 0.8 bpg, 49.6 FG%, 37.6 3PT%, 88.6 FT%. He had 3 straight NBA MVP's, a 12 time NBA all star, 9 time all NBA first team, NBA rookie of the year, 3 NBA championship rings, 2 time NBA finals MVP. He won 3 NBA all star 3 point shooting contest in 3 attempts, NBA top 50 player, in the basketball hall of fame, and a top ten all time FT% leader. When Larry Bird first entered the league for the Boston Celtics he earned the all time record for wins added in comparison to the previous season. What that means is the previous season without having Larry, the Boston Celtics had a record in 1979 of 29-53. When they acquired Larry, the Boston Celtics had a record in 1980 of 61-21. The Legend is the greatest of all time in terms of basketball and a fifthish to last fact that he is ranked 5th in all time triple double's in a career with a career double double for per game stats. His rookie contract in 1980 was $3.5 million for 5 years. Using the GDP deflator in 2013, he had a contract of about $8.327385 million with a per year of $1.665477 million. He was consistent, skilled, and clutch. Here's my last fact, "If I had to choose a player to take a shot to win a game I'd choose Michael Jordan, if I had to choose a player to take a shot to save my life I'd pick Larry Bird" (Pat Riley). 

Janet yellen

If you look at Jamet Yellen's philosophy, she favors for decreasing unemployment rate rather than worrying about inflation. This is from Reuters and looking at this, that philosophy is great during the symptoms of a recession or during a recession. So she might be a good fit for the economic state America is in now. She would like to help run an expansionary policy during times of recession. The problem is that her philosophy that she holds is also kept in her mind during economic expansion. That's the problem, if she isn't willing to change her views to benefit the economy then, why should she be Chairwoman of the Federal Reserve? She would like to help run an expansionary policy judging by her unchanging  philosophy during times of economic expansion. And because of that, she could help cause hyper inflation, a problem she won't address because she worries about the unemployment rate. So she shouldn't be appointed by Congress because her philosophy can work for the economic times we're in now but, later her philosophy would hurt us.

A bill to give them theirs

This is a bill for debate club and basically article 1a there's a 1% tax added to all transactions. There would be a right shift for aggregate demand. This would shift aggregate demand because there is an increase for government revenue and a decrease in consumer spending. This would decrease consumer spending and this would be a terrible thing because we're still feeling the recession and by decreasing real GDP causing lees spending for consumers and we as in an economy stand point can't handle this. 

The ad curve

George Bush sr. promised while running for President, "Read my lips. No new taxes". What really happened was that he passed taxes that Congress wanted and the AD curve. Because of the new taxes, people had less money to spend and then the aggregate demand curve shifted to the left. So by having the aggregate dreamland curve shift to the left from the new taxes passed George Bush was not re-elected. The change in the curve had real GDP decrease.

OBAMACARE

Obamacare applies to many people, for example like my family. My household doesn't have a high enough income for all of us to have insurance. So by law, we are required to have this. There would be a government shut down over Obamacare and people like my family would need to sit back and see what would happen. Unfortunately we as a nation can not unite and form a majority opinion. Obamacare can benefit honest low income households like mine but negatively affect the the other population. Looking at the other perspective maybe I don't want my hard earned money going to others that don't affect me. I know there are some people that can and honestly use my hard earned money in their unfortunate state.

The circular flow of economics

My mother, her boyfriend, and I work at Pizza Hut. We want to buy things to make living possible so we want to pay for example electricity and groceries. In order to get these groceries and pay for the electricity bill we all need to perform services for the Pizza Hut franchise. In order for the customer to get their pizza, Pizza Hut needs workers to give it to them in a timely manner and make a quality product. For my family to survive and to get the things we want, we need to perform these services. The customer pays Pizza Hut for the pizza they wanted. So to get the customer their pizza Pizza Hut pays workers and the workers do the services required as an employee to purchase what they want. So my family fits in by doing these services so we can buy products we need for survival.