Keynesian Economics Evidently saved the world from economic meltdown

[Red Dawn]

It was only 6 months ago that we were looking into the abyss of global economic meltdown. Hopefully the light is at the end of the tunnel




G-8 Considers Rolling Back Stimulus Efforts Amid Signs that Economic Collapse Is Averted

June 15 (Bloomberg) -- Group of Eight finance ministers began drawing up contingency plans for rolling back budget deficits and bank bailouts as the economy shows signs of recovery and investors start worrying about inflation.

The G-8 ministers delivered their most upbeat outlook since the collapse of Lehman Brothers Holdings Inc. in September amid mounting evidence that the deepest global recession in six decades is moderating.

Officials meeting in Lecce, Italy, over the weekend said it’s prudent to consider what exit strategies to deploy once global growth is secured and asked the International Monetary Fund to examine how to do so without reigniting the two-year crisis. At the same time, they said it’s premature to rein back more than $2 trillion in stimulus packages.

Policy makers trod a fine line in the knowledge that withdrawing stimulus measures too soon could choke the recovery before it starts, and allowing them to last too long might push up borrowing costs. They are also trying to reassure markets after the yield on the 10-year U.S. Treasury note rose last week to the highest since October.
There are “signs of stabilization,” though “the situation remains uncertain” as climbing unemployment and volatile commodity prices present obstacles, the ministers said in their statement.

G-8 Plans to Reverse Stimulus as Rebound Signs Grow (Update1) - Bloomberg.com

 

[Oddball]

Yeah....The arsonists were the right people to call to put out the fire.

 

[Shogun]

what was it you always cry about non sequiters?





Funny, the guy smelling of gasoline whose eyebrows are singed was the first person to cry foul.

 

[PubliusInfinitum]

It was only 6 months ago that we were looking into the abyss of global economic meltdown. Hopefully the light is at the end of the tunnel




G-8 Considers Rolling Back Stimulus Efforts Amid Signs that Economic Collapse Is Averted

June 15 (Bloomberg) -- Group of Eight finance ministers began drawing up contingency plans for rolling back budget deficits and bank bailouts as the economy shows signs of recovery and investors start worrying about inflation.

The G-8 ministers delivered their most upbeat outlook since the collapse of Lehman Brothers Holdings Inc. in September amid mounting evidence that the deepest global recession in six decades is moderating.

Officials meeting in Lecce, Italy, over the weekend said it’s prudent to consider what exit strategies to deploy once global growth is secured and asked the International Monetary Fund to examine how to do so without reigniting the two-year crisis. At the same time, they said it’s premature to rein back more than $2 trillion in stimulus packages.

Policy makers trod a fine line in the knowledge that withdrawing stimulus measures too soon could choke the recovery before it starts, and allowing them to last too long might push up borrowing costs. They are also trying to reassure markets after the yield on the 10-year U.S. Treasury note rose last week to the highest since October.
There are “signs of stabilization,” though “the situation remains uncertain” as climbing unemployment and volatile commodity prices present obstacles, the ministers said in their statement.

G-8 Plans to Reverse Stimulus as Rebound Signs Grow (Update1) - Bloomberg.com

ROFLMNAO... Of course the simple fact is that not one cent of the spending to which this idiot speaks can be attributed to a single positive economic devalopment...

Had the US not spent one cent to save a single thing, the 'poisoned assetts' would have long since been discounted to pennies on the dollar and bought up by those who would have reaped the benefit of such... with the US and global economy having long since returned to sustainable growth...

All that has happened is TRILLIONS of dollars have been printed, devaluing the Dollar even further, and set the planet up for the unavoidable wave of stagflation...

It is hilarious to me how the left is so quick to take credit for a recovery in an economy which is still in free fall... of course, this is all part and parcel of the left's attempt to create the perception of a recovery where none exists... just as they did when the US economy enjoyed 4% unemployment and they were shouting "THE WORST ECONOMY SINCE THE GREAT DEPRESSION..."

But such is the nature of evil... it's sole function is deceit.

 

[Baruch Menachem]

I think they have realized that it is counterproductive, and the thing everyone was afraid of has happened already.

Unemployment is still going up like crazy, even after all the money that was thrown at GM and Chrysler, they still went bankrupt, TARP may be destroying Banck of America, as the rescue of Merrill seems more toxic all the time.

And while the rest of the world is may be doing better, the US is not. I am one of the unemployed, and the number of jobs out there is shrinking as the pool of seekers bleeds wider and wider.

 

[Sinatra]

Well, by using the Unites States as an example - we have spent very little of the stimulus package yet - (what actual stimulus was there) and yet the economy appears to be stabalizing a bit - though unempoyment continues to rise.

So what Keneysian spending has actually taken place - very little.

What we have had is strong government intervention / power grab.

So we will have a test of whether or not centralized power will win out over what is left of a self-sustaining economy.

That has less to do with Keynes and far more to do with Hitler, Mussolini, or Stalin...

 

[Baruch Menachem]

It is hilarious to me how the left is so quick to take credit for a recovery in an economy which is still in free fall... of course, this is all part and parcel of the left's attempt to create the perception of a recovery where none exists... just as they did when the US economy enjoyed 4% unemployment and they were shouting "THE WORST ECONOMY SINCE THE GREAT DEPRESSION..."

that is a constant line every time since 1988. People who lived through it know better.

And for my personal experience, there is no level of economic horror that was worse than the years 1978-1981. Huge levels of unemployment, double digit inflation, fecklessness and hubris and disaster everywhere. And by the way, it was all Nixon's fault anyway. We seem to be heading back into the Carter levels of disaster and dishonesty

 

[Kevin_Kennedy]

Keynesian economics saved the world from the Keynesian created meltdown? That doesn't make any sense.

 

[Sinatra]

It is hilarious to me how the left is so quick to take credit for a recovery in an economy which is still in free fall... of course, this is all part and parcel of the left's attempt to create the perception of a recovery where none exists... just as they did when the US economy enjoyed 4% unemployment and they were shouting "THE WORST ECONOMY SINCE THE GREAT DEPRESSION..."

that is a constant line every time since 1988. People who lived through it know better.

And for my personal experience, there is no level of economic horror that was worse than the years 1978-1981. Huge levels of unemployment, double digit inflation, fecklessness and hubris and disaster everywhere. And by the way, it was all Nixon's fault anyway. We seem to be heading back into the Carter levels of disaster and dishonesty

Agreed - the time period you reference was worse - far worse - than what the nation has recently experienced.

Each era wishes to romanticize how bad it is, and in doing so, loses historical context.

This country was at the brink - truly at the brink, of a deep economic depression by the late 1970's. The machinery was grinding to a slow but consistent halt.

The fact we managed to pull out of that remains a remarkable period in American economic history.

This current recession remains rather shallow - compounded by the housing downturn, but overall, shallow - albeit prolonged.

America is a whiney, over emotional, land of wimps.

 

[PubliusInfinitum]

It is hilarious to me how the left is so quick to take credit for a recovery in an economy which is still in free fall... of course, this is all part and parcel of the left's attempt to create the perception of a recovery where none exists... just as they did when the US economy enjoyed 4% unemployment and they were shouting "THE WORST ECONOMY SINCE THE GREAT DEPRESSION..."

that is a constant line every time since 1988. People who lived through it know better.

And for my personal experience, there is no level of economic horror that was worse than the years 1978-1981. Huge levels of unemployment, double digit inflation, fecklessness and hubris and disaster everywhere. And by the way, it was all Nixon's fault anyway. We seem to be heading back into the Carter levels of disaster and dishonesty

Yeah Nixon did implement a ton of left-think as federal policy... but such never gets resolved by electing more egregious leftists... which is what has happened here.

The Housing Bubble/Bust was a direct result of leftist manipulation of the Mortgage industry; particularly their demand that long-standing actuarial lending policies be set aside to accommodate their means to exert power in the name of "FAIRNESS"... whereupon they come to the rescue to implement MORE OF THE SAME, only on exponentially greater levels; ALL IN HOPES OF REALIZING A DIFFERENT RESULT!

Which is, of course, the working definition of INSANITY.

 

[Oddball]

Keynesian economics saved the world from the Keynesian created meltdown? That doesn't make any sense.

Yeah...I covered that in #2, even though the analogy flew right over the head of the subsequent poster.

 

[Shogun]

Keynesian economics saved the world from the Keynesian created meltdown? That doesn't make any sense.

Yeah...I covered that in #2, even though the analogy flew right over the head of the subsequent poster.

it's easier for you to point a finger than prove your assertion, isn't it? Don't worry, bro.. your hair will grow back but you might have to go take shower to get that "fresh arson" smell off.

 

[Red Dawn]

I think they have realized that it is counterproductive, and the thing everyone was afraid of has happened already.

.

So, your contention in the economic ministers and governments of the G-8 are engaged in a massive conspiracy, and are lying about the stimulus apparently helping to avert a meltdown? That instead of telling the truth, in your view, that the stimulus was a collasal failure, they are fabricating a story about dialing down the stimulus once a sustained recovery is achieved through stimulus?.

That's your contention?

 

[Oddball]

So, it's your contention that a bunch of self-important political elites are going to admit that they have no more control over economic conditions than they have over the weather??

Oh yeah....that's right...Those assholes think that they can control the weather, too.

 

[PubliusInfinitum]

Keynesian economics saved the world from the Keynesian created meltdown? That doesn't make any sense.

Yeah...I covered that in #2, even though the analogy flew right over the head of the subsequent poster.

it's easier for you to point a finger than prove your assertion, isn't it? Don't worry, bro.. your hair will grow back but you might have to go take shower to get that "fresh arson" smell off.

Child-fucker... ya seem to be implying that you've proven some assertion; now what assertion would that BE?

The FACT is that the present recession was a direct result of leftist policy... From the Fed Policy spurred on my Fwank and her minions to the absurd 'non-stimulating Stimulus' which has only made matters WORSE... prolonging, as they ALWAYS DO... the natural cycle to recovery...

Now to challenge that, one simply needs to show that Fwank and Company did NOT install their FAIRNESS policy to interfere with the Private markets, that this intervention did NOT cause the industry to react and eventually BUST THE SYSTEM...

Further, the second greatest cause of the recession is the cost of gasoline and other petroleum based fuels... the rising cost of which is ALSO a direct result of leftist policy, specific the ECO-Farce wherein the Left has devastated the means of exploration and drilling for such within and around the US... as well as the means to distill and process such; even as we speak the Cost of fuel has doubled since The BOY King has taken power; and purely as a result of the economic effect of his fiscal policy which has grossly devalued the US Dollar.

Now what was this assertion you've implied that you've proven? There's no record of it...

 

[Kevin_Kennedy]

Keynesian economics saved the world from the Keynesian created meltdown? That doesn't make any sense.

Yeah...I covered that in #2, even though the analogy flew right over the head of the subsequent poster.

it's easier for you to point a finger than prove your assertion, isn't it? Don't worry, bro.. your hair will grow back but you might have to go take shower to get that "fresh arson" smell off.

Well the article itself asserts that unemployment is still going up and that commodity prices continue to rise.

 

[Shogun]

So, it's your contention that a bunch of self-important political elites are going to admit that they have no more control over economic conditions than they have over the weather??

Oh yeah....that's right...Those assholes think that they can control the weather, too.

Are you stupid enough to suggest that economic conditions CANNOT be controlled and that, of anyone, THESE people do not have the scope to see the results of said control?

 

[Shogun]

Yeah...I covered that in #2, even though the analogy flew right over the head of the subsequent poster.

it's easier for you to point a finger than prove your assertion, isn't it? Don't worry, bro.. your hair will grow back but you might have to go take shower to get that "fresh arson" smell off.

Well the article itself asserts that unemployment is still going up and that commodity prices continue to rise.

it's been what.. 6 months? Did you expect the trickle (HA!) to drip down universally on March 6? don't you think it's a bit premature to start crying about immediate results for no other reason than merely kicking dirt in the face of your opposing economic view? Unemployment will continue to go up as long as we insist on hemorrhaging jobs to cheap foreign labor. Nothing short of making you people cry about protectionism will solve that. It just seems that you all might want to re-evaluate your own theories before throwing a stone at anyone else this early in the game.

 

[Oddball]

Are you stupid enough to suggest that economic conditions CANNOT be controlled and that, of anyone, THESE people do not have the scope to see the results of said control?

If economic conditions could be controlled by mere politicians and bureaucrats, black markets wouldn't exist.

 

[PubliusInfinitum]

So, it's your contention that a bunch of self-important political elites are going to admit that they have no more control over economic conditions than they have over the weather??

Oh yeah....that's right...Those assholes think that they can control the weather, too.

Are you stupid enough to suggest that economic conditions CANNOT be controlled and that, of anyone, THESE people do not have the scope to see the results of said control?

ROFLMNAO... Sweet Mother that's hilarious...

Uh NO... DUMBASS! The US Economy cannot be 'controlled'... PERIOD! No more than any other system which is comprised of TRILLIONS of independent elements and exchanges...

Just as those who claim to be able to control the atmosphere... can NOT control the weather.

But it is HYSTERICAL that you, an IMBECILE believes that there is some means to do so...

Now towards illustrating how stupid such a notion IS... The US Federal Reserve sought to implement CONTROL on the US Economy by interfering with the Mortgage industry... this to more 'fairly distribute' the means to home-ownership.

Now that ONE simple little act... caused a massive chain reaction which developed into a RUN on real-estate, driving the cost of real-estate beyond the means of the market to sustain such prices and the recent BUST of the entire mortgage industry and the relevant markets...

Now assuming you believe that the goal was NOT to drive the US economy into the tank; IF these idiots could CONTROL THE ECONOMY... There would not have been:
A) The ensuing run on real-estate and...
B) The predictable and resultant BUST and ...
C) The present RECESSION, which is heading directly towards a global DEPRESSION...

So where exactly is the evidence to which you're IMPLYING which suggests that the economy CAN BE CONTROLLED?