The Economy.

Discussion in 'Current Events' started by froggy, Feb 19, 2010.

  1. froggy
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    froggy Gold Member

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    The government needs to quit trying to fix it and let it run its course, all they'll do is make it worse.
     
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  2. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    The Governments actions in late 2008 and early 2009 stopped an economic panic and prevented a Depression.

    Letting things "run its course" was not an option for either Bush or Obama
     
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  3. MIPS
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    MIPS Active Member

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    It most certainly was an option, the federal government took a hands off approach to dealing with the depression of 1920-1921 and the economy recovered in approximately 18 months and the result of allowing the market to liquidate the underlying mal-investment on its own was the era of economic prosperity known as the "roaring twenties".

    It's essentially enduring the short term pain of your own unwise decisions in order to facilitate the LONG TERM health of the economy, what we've been treated to instead was papering over the root causes of the problem for the short term which will inevitably lead to even bigger problems over the long term. This is what politicians do because their time horizons are so limited, they give the drug addict another dose to keep him happy and are content that when the withdrawal symptoms really kick in they'll be long gone from office anyways.
     
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  4. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    Hoover took a hands off approach and turned a recession into a world wide Depression
     
  5. uscitizen
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    uscitizen Senior Member

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    actually it remains to be seen if they prevented a depression or not.
     
  6. uscitizen
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    uscitizen Senior Member

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    I said this While Bush was begging for TARP.

    I have only been supporting of stimulus money aimed more at the workers.
    So far that has been a bust though except for money routed to states to keep them afloat and extending Unemployment benefits.
     
    Last edited: Feb 19, 2010
  7. MIPS
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    MIPS Active Member

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    Ummm... you are in dire need of some history lessons rightwinger, Hoover took a staunchly interventionist approach and FDR lambasted him for it during FDR's presidential campaign followed of course by FDR expanding upon and intensifying the Hoover interventionist economic policies and thus allowing what could have been a short, sharp depression ala 1920-21 to turn into a "GREAT" depression.

    Bush->Obama is just a repeat of Hoover->FDR, try picking up a history book and being objective in your analysis and this will be clear to you.
     
  8. Zoom-boing
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    Zoom-boing Gold Member

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    And who tell us this? Government. :rolleyes:

    Of course it was an option; see Mr. MIPS' response.

    (say "Mr. MIPS" . . . it's fun!)
     
  9. ☭proletarian☭
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    Quick fixes make the condition worse in the long run. A longer recovery is the price of a real recovery. It's like undergoing surgery for a shattered bone as opposed to simply getting a bunch of morphine and being discharged an hour later.
     
  10. uscitizen
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    uscitizen Senior Member

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    Yep, unfortunately we have learned nothing yet. Neither the individuals nor the government nor the market..
     
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