Obama Stimulus Not Necessary, as This Is No Great Depression

Discussion in 'Economy' started by Charles_Main, Feb 6, 2009.

  1. Charles_Main
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    Charles_Main AR15 Owner

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    History shows doing too much for the economy, not too little, is the danger, Clark S. Judge writes
    By Clark S. Judge
    Posted February 6, 2009

    Clark S. Judge is managing director of the White House Writers Group Inc. in Washington and chairman of Pacific Research Institute in San Francisco.

    Full Article here Obama Stimulus Not Necessary, as This Is No Great Depression - US News and World Report
     
  2. driveby
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    driveby Gold Member

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    Right , anyone with half a brain know that they're just trying to sneak one by us with this "stimulus" bill......
     
  3. jillian
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    jillian Princess Supporting Member

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    because we should sooooooo listen to the people who've been wrong for the last eight years.
     
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  4. driveby
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    driveby Gold Member

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    What "people" would they be ?
     
  5. Kevin_Kennedy
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    Kevin_Kennedy Defend Liberty

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    I agree, we definitely shouldn't listen to those that have been wrong. Which begs the question, why do you still support Keynesian policies?
     
  6. auditor0007
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    auditor0007 Gold Member

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    I don't have a problem pumping a little extra money into infrastructure to help get the ball rolling. Unfortunately, that is not what this stimulus package is about. Infrastructure spending is only around 5% of the total package. The rest is just throwing money into the economy which will most likely lead to high rates of inflation. As the purchasing power of the dollar falls, more jobs will be lost, and we'll be in real trouble.

    At this point, I think they should just scrap the whole damn package and worry about making certain that capital is available. We're not going to walk out of this recession quickly no matter what we do. I'd prefer that we don't make things worse.
     
  7. Agnapostate
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    Agnapostate BANNED

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    I find myself again repeating the fact that Keynesianism, for all its faults, is at least preferable to other capitalist variants in that it has the effect of preventing stagflation, whereas unchecked capitalism will inevitably result in market concentration.

    Regardless, the references being made of the New Deal being Keynesian are odd, to say the least. As insightfully noted by Herbert Stein, "it is possible to describe the evolution of fiscal policy in America up to 1940 without reference to [Keynes]....y the outbreak of the war a large part of the fiscal revolution had already occurred. It was accepted policy that we would run deficits in depressions, that we would not raise taxes in depressions in an attempt to balance the budget."
     
  8. realdiversity1
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    realdiversity1 Rookie

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    There is an interesting discussion about the bailout (not so much the stimulus) and the need for accountability at nothoughtpolice.blogspot.com
     
  9. Neubarth
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    Neubarth At the Ballpark July 30th

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    Again, I will defer to anybody who has had some economic study or training. All I know is what I have read in the papers.

    What I have seen in the papers (or on the Internet) is that the rate of decline is very steep. WE are losing jobs at a faster clip than any time in history. (Rate of job loss as opposed to the precent of lost jobs.)

    What I have seen in the papers is that the Service Sector collapse is just now beginning to be felt. Even though we are the largest manufacturing country in the world, over half of our economy is service sector. A service sector economy is a house of cards waiting to come tumbling down . It is starting. How bad can it get. I have heard speculation that we could see 22% 29% and even 33% unemployment. If that happens, there will be riots in the cities all across America. History tells us that. I don't need to read it in the papers.
     
  10. mash107
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    mash107 Active Member

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    Yes, so let's not listen to Keynesians!
     

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