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Thread: CBO: Stimulus hurts economy in the long run

  1. #31
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    Re: CBO: Stimulus hurts economy in the long run

    Quote Originally Posted by AdamT View Post
    ... is the understatement of the century.
    A fast hard fall, and a natural recovery is far more preferable then the never ending malaise we are in now, where natural market forces are chained down "government" help.
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    Re: CBO: Stimulus hurts economy in the long run

    Quote Originally Posted by Blue_State View Post
    The 1930's were bad. But let's bring it back to our current time frame, other than a time when the dollar was backed by gold. At the end of the 90's, the tech bubble popped, but we didn't run out there to save every small tech firm that was dying out. The weak died, the strong survived, and the parts of the weak that were good, went off to the ones who could pay for it. The same should have happened to the auto industry and the banking industry. Sure, there would be some turbulence for a few years while things shake out...but that has to be better than our current situation. A free market should be free of government intervention. Lately it seems like the government wants to be more in business than politics.
    Tech bubble burst - That's because most of those Internet start-ups were financed by venture capitalist, not the fed! BIG difference!!

    Now, I agree that if a company goes bankrupt, if it is determined that bankruptcy restructering won't allow it to survive it should be allowed to fail. However, as finehead points out in post #22, what was happening with these "too big to fail" banks was effectively a house of financial cards facing a severe domino effect. If one failed its collapse threatened to take the rest of them down with it. As such, our entire financial system was threatened. This is the cingular issue most folks completely ignore.

    Under ordinary circumstances, I would have no problem letting each one of those poorly run investment banks and AIG fail. I'd even have let GM and Chrysler go away (especially Chrysler since this is the 3rd time the fed has come to its rescue since 1979). But, in the wake of what was already happening in our nation's economy, I believe the actions former President Bush took in conjunction with the continued support and restructering President Obama setforth helped keep this country from going into a deep depression. Like it or not, their actions were the right thing to do.

  3. #33
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    Re: CBO: Stimulus hurts economy in the long run

    Quote Originally Posted by MrVicchio View Post
    A fast hard fall, and a natural recovery is far more preferable then the never ending malaise we are in now, where natural market forces are chained down "government" help.
    I don't think there would be anything fast about it. I think it would have taken much longer to recover. I think it would have been very much like the Great Depression.

  4. #34
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    Re: CBO: Stimulus hurts economy in the long run

    Quote Originally Posted by cpwill View Post
    and in the short run... but hey, movement in the right direction, and (politically) a welcome realization of reality by the CBO.
    I guess this means conservatives like the CBO now.
    (avatar by Thomas Nast)

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    Re: CBO: Stimulus hurts economy in the long run

    Quote Originally Posted by pbrauer View Post
    WOW!!!! The Moony Times speaks.
    Bush Tax Cuts Vs Obama Stimulus Package - The 12 Following Months of Each

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    Re: CBO: Stimulus hurts economy in the long run

    Quote Originally Posted by AdamT View Post
    I don't think there would be anything fast about it. I think it would have taken much longer to recover. I think it would have been very much like the Great Depression.
    If you understood economic's, and history you'd know the reason the great depression lasted so damned long is precisely because of the sort of "Government Help" tried this time. It failed miserably for FDR, and it's failed miserably this time. Yet people like you, with blinders on, don't GET IT.
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    Re: CBO: Stimulus hurts economy in the long run

    Quote Originally Posted by MrVicchio View Post
    If you understood economic's, and history you'd know the reason the great depression lasted so damned long is precisely because of the sort of "Government Help" tried this time. It failed miserably for FDR, and it's failed miserably this time. Yet people like you, with blinders on, don't GET IT.
    I guess you could reach that conclusion if you think Glenn Beck is a historian. If, OTOH, you read actual historians, you will hear a different story.

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    Re: CBO: Stimulus hurts economy in the long run

    Quote Originally Posted by finebead View Post
    We let businesses fail, like MF Global just failed. What we cannot do is allow THE WHOLE SYSTEM to fail, or to let a failure in one sector, like housing, bring down a whole string of sectors, like morgage operations, banking, auto sector, and on, and on...

    See 1930's. That's bad.

    I don't see anyone who has proposed a comprehensive plan to deal with the situation we faced in 08-09, who describes all the major expected outcomes, and it happens without significant short term pain, and discusses the expected long term results also. Until someone does, you're all just bitchin.
    Which is what happened when our government dismantled the Glass-Steagal Act. Glass-Steagal needs to be reimposed. That would be the best fix, as it would prevent one sector from taking down others.
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    Re: CBO: Stimulus hurts economy in the long run

    Quote Originally Posted by AdamT View Post
    I guess you could reach that conclusion if you think Glenn Beck is a historian. If, OTOH, you read actual historians, you will hear a different story.
    Actual historians? You don't seem to know much about history but you sure have an appetite for a huge central govt. operating as a nanny state.

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    Re: CBO: Stimulus hurts economy in the long run

    Quote Originally Posted by Conservative View Post
    Actual historians? You don't seem to know much about history but you sure have an appetite for a huge central govt. operating as a nanny state.
    Like I said, don't listen to Glenn Beck. It will numb out what's left of your mind.

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