Well President Bush, whatever his failings, must have been a whole lot smarter than most to be able to fool so many into agreeing to all that stuff that brought the nation to its knees. And he is no doubt President Obama's chief advisor given the long string of failed efforts piling up since January 2009.
But wouldn't you think Obama, being so much more intelligent and all, would not be taking so much bad advice by now?
Fyre, I have never studied economics. Not Micro or Macro or fundamental. I just have fun with reality. The data I post are real. The economy is the economy because of blundering in the past and failed regulation.
When I am in my bleeding heart liberal mode, I point out that we do not effectively pay interest to the FED, therefore we should always borrow from the FED. If you look at it hat way, we have an unlimited Expense Account. I only go into my liberal manic state about two to three times a year. When I raise the Free Money From The FED issue, no conservative has ever been able to argue on the other side. Conservatives must have very weak minds because they can not dissuade me from my occasional liberal position.
Free money to spend is free money. That is how my wife has always treated our checking account and I still love her. (Don't tell anybody, but she is a Conservative Born Again Fundamentalist Christian and would be greatly offended she was told that liberal spending is a Democratic trait.)
I read a little parable awhile back. I don't know where I read it though so can't go get it, but let's see if I can do a reasonable facsimile of it from memory:
The recession hung on and business was bad.
Joe ran the local motel and, unable to afford help, was working the desk one night when a well dressed business man type came in and asked for the best room in the house, but he wanted to be sure it was up to his standards. The man put a $100 bill on the desk and took the key to go check the room, some distance from the office.
On faith the room would be acceptable, Joe grabbed the $100 and ran down the street and paid his plumber a past due debt to prevent a mechanics lien being filed on his property the next day. As Joe sprinted back to the motel, the plumber dashed across the street to the pawn broker and redeemed his expensive watch before somebody bought it.
The pawn broker then waved in the local prostitute and paid her $100 for services he had received on credit.
The prostitute walked immediately to the motel and handed the $100 to Joe for reimubursement for the short term rooms she had rented on credit.
The $100 was replaced on the counter as the business man returned, stated he wouldn't take the room, returned the key, picked up the $100 and left.
In this scenario, not a product was produced, not a service was delivered, not a dime of wealth had been added to the community, but four people who had been in debt were out of debt and everybody felt pretty darn well off.
Is that what you mean, Neubarth?
