Discussion in 'Current Events' started by Annie, Aug 27, 2010.
A smaller stimulus would've produced this result in the U.S. (i.e. a surge in exports)?
"Germany is a socialist state."
Told to me by a money manager who invests in France but not in Germany.
It is probably significant that our President has not spent much time in Europe since he met fairly unified criticism of his methods to bring the USA out of recession. And, based on Europe being essentially recovered and their economies are rocking along fairly well, it appears that they were right.
I was listening to a discussion this morning as to whether Obama in the face of increasing bank crisis despite all the 'economic reform', and more mortgages on the brink of collapse despite all the bail outs, and hundreds of thousands of new jobless claims coming in every week despite the stimulus, will now reverse course and listen to other than the financial advisors who have obviously steered him very very wrong, Despite one or two who continue to dutifully recite the party line that the stimulus is working, there was a pretty solid consensus that the President is too much of an ideologue to admit his policies won't work and the wheels have come off.
If they are right it will all come down to November and what happens in the November election whether we can stop the runaway train. We may have to wait until the election following that to elect somebody who will consent to the wheels being put back on.
Thanks, the US exports nearly nothing. We need to impose high tariffs on imported goods, like we did before Reagan.
George W. Bush tried that. He tried to shore up a sluggish steel industry by increasing the tariffs on imported steel. The result was that he almost doubled the unemployment rate in that industry.
There are too many economic powers in the world to believe that they absolutely have to do business with America to survive. That is no longer the case. The only way we can compete is by providing a superior product at a fair price in a free market. That means that our tax and regulation structures must be favorable for Americans to be able to produce a superior product at a fair price. Otherwise we will continue to lose business to those countries who do.
oh yeah, hey smoot-hawley did wonders...
Yep. One of the major contributing factors to many additional years of depression that we didn't have to endure.
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