Lorr47
Posts: 862
Joined: 3/13/2007
Status: offline
|
quote:
ORIGINAL: celticlord2112
quote:
You seem to take the position that if a problem exists we must ignore the problem because it is a problem and all problems are by your definition not capable of being solved.
Nope. I take the position that imperfect people are never going to create a perfect world. Thus "suffering", no matter how much we might wish it gone, is never far away.
As regards the proposed "stimulus" spending, my thesis is and has been for some time that it is the wrong idea. That it draws on defective readings of FDR's New Deal, that it will make matters worse and not better, and that it is not the best option out there.
My thesis is, and has been for some time, that government interventions of this sort are counterproductive, and that a null response from government ("Don't just do something. Stand there!") would be the most beneficial, and, failing that, the most effective and efficient stimulus mechanism available to the government is an extended tax holiday (hence the petition link in my signature block below)--when discussing a $1Trillion stimulus package at the end of a year when tax revenue is $1.2Trillion, the logic of the effort to collect tax monies only to immediately redistribute them in the form of "stimulus" seems tortuous at best.
As for Dear Leader succeeding--I fervently hope he fails. I hope he falls flat on his face and has a horrible four years before he's sent back to Chicago with his tail between his legs. The failure of his agenda would be the best outcome for this country, because his agenda is a monstrosity of statism in domestic policy, and limp-wristed cowardice in foreign policy.
As for him being corrupt--he's a Chicago hack politician, his first campaigns funded by convicted criminals and planned by known terrorists, and his presidential campaign was bankrolled by Wall Street. Yeah, he's corrupt. It's the Chicago way.
"Experts on money supply and professionals from the Federal Reserve such as Milton Freidman and Ben Bernanke state that the Great Depression was caused by the tightening of the money supply, which they blamed on poor policy making by the Federal Reserve system and a continuing crisis in the banking sector. During the time between 1929 and 1933 the Federal Reserve allowed the money supply to shrink by one-third by their lack of action. It was Friedman who argued that the stock market crash and ensuing downturn in the economy would have become only another recession. The problem was that when the Bank of the United States and some other large, public banks failed, people panicked and local banks became victims of widespread runs; as the banks fell, the Federal Reserve did nothing. His opinion was that the Fed should have extended emergency loans to key banks, or have bought government bonds that were already on the market to create more liquidity and increase the amount of money after some of the large banks fell, keeping the other banks running, and keeping the money supply stable. Business owners were eventually forced to stop investing because there was less money available for new and renewed loans. According to this theory, the Federal Reserve, and particularly the New York branch, was responsible for inaction. "
Thus, Freidman would say that you are wrong. The reason for the recession turning into a depression was inaction. If you look at what Friedman recommended, those recommendations look like many of the attempted actions taken recently. What are the main problems today with carrying out Friedman's recomendations? The degree and type of fraud on Wall Street appears to be a major difference. I know this is heresy but I still think the preeminent economist is still Alan Greenspan. Where did Greenspan go wrong? His model did not take into account the type and degree of fraud and dishonesty existing on Wall Street. He admitted his model was wrong in that respect (the only person admitting something he did was incorrect). In addition to the fraud and dishonesty on Wall Street, we have the horrendous fraud and dishonesty of administration personnel including Paulson. However, even given the foregoing , action obviously is preferable to inaction. We made the mistake of inaction before. How do we cope with the dishonesty of Wall Street and politicians? We thrown a number of them in prison.
|
RE: Thoughts on Obama's possible 1 trillion stimulus plan? - 
, and assist doctors and hospitals in computerizing 
Profile
New Messages
No New Messages
Hot Topic w/ New Messages
Hot Topic w/o New Messages
Locked w/ New Messages
Locked w/o New Messages
Post New Thread