Page 9 of 9 FirstFirst ... 789
Results 81 to 88 of 88

Thread: Obama promises more than 600,000 stimulus jobs

  1. #81
    Traditionalist
    phattonez's Avatar
    Join Date
    Jun 2009
    Location
    Los Angeles, CA
    Last Seen
    12-05-17 @ 03:45 PM
    Gender
    Lean
    Other
    Posts
    20,072

    Re: Obama promises more than 600,000 stimulus jobs

    ^^It is their fault. I just equated the losing of their property as their own punishment. Of course it's self-inflicted. But you're right about the terrible actions of the government. I totally agree with you there. I actually agree with everything you just said, I think we're just getting confused about terminology.

    And for Goldenboy, I thought you might enjoy this:
    Thus, for example, the Chicago School has been critical of the Fed, but for the wrong reasons: the Fed supposedly failed to create enough money when the money supply began falling. This is not exactly a free-market criticism, but (surprise!) it's the only one the mainstream has bothered to acknowledge. As a matter of fact, in the nearly two years following the 1929 stock-market crash the Fed engaged in what were at that time the most aggressive rate cuts in its history. (This is in contrast to the Fed's rate increases during the 1920–1921 downturn, which was over quickly but which by Chicago's reasoning ought to have been more severe and persistent.) Milton Friedman and Anna Schwartz, Murphy concludes, gave birth to

    "a myth, namely that the Federal Reserve sat idly back and allowed the economy to implode. That myth — like the myth that Herbert Hoover sat idly back and watched the Depression unfold — is continuing to drive misguided policies today."

    Murphy also includes in this chapter a very useful section on deflation, a subject nearly impossible to find treated without breathless hysteria. To blame the Depression on a decrease in the supply of money is to get the relationship exactly backward. Moreover, the money supply fell by the same percentage between 1839 and 1843 that it did between 1929 and 1933, but robust increases in real consumption and real GNP followed. Under the heat of Murphy's magnifying glass throughout this much-needed chapter, the arguments of the deflationphobes melt away.
    Response to the "Market Failure" Drones - Thomas E. Woods, Jr. - Mises Institute

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

  2. #82
    Banned
    Join Date
    May 2009
    Last Seen
    07-27-09 @ 08:23 PM
    Gender
    Lean
    Libertarian
    Posts
    740

    Re: Obama promises more than 600,000 stimulus jobs

    He's not putting in enough spending. If only he were to make the stimulus something like 10 trillion dollars instead of a measly 800 billion, he would have created over 350 million jobs by now.

  3. #83
    I'm not-low all the time
    Kushinator's Avatar
    Join Date
    Jan 2006
    Location
    West Loop
    Last Seen
    Yesterday @ 01:09 AM
    Gender
    Lean
    Independent
    Posts
    16,254

    Re: Obama promises more than 600,000 stimulus jobs

    Quote Originally Posted by phattonez View Post
    I'm still waiting for one capitalist idea to come from you.
    The only government actions i support are: the general idea of a stimulus package (although i am not pleased with the first one), and all central banks easing credit markets. Because they have to....


    That's it

    Until you can show me specific posts where i am supporting "bailouts", lose the tude.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

  4. #84
    I'm not-low all the time
    Kushinator's Avatar
    Join Date
    Jan 2006
    Location
    West Loop
    Last Seen
    Yesterday @ 01:09 AM
    Gender
    Lean
    Independent
    Posts
    16,254

    Re: Obama promises more than 600,000 stimulus jobs

    Quote Originally Posted by phattonez View Post
    ^^It is their fault. I just equated the losing of their property as their own punishment. Of course it's self-inflicted. But you're right about the terrible actions of the government. I totally agree with you there. I actually agree with everything you just said, I think we're just getting confused about terminology.

    And for Goldenboy, I thought you might enjoy this:


    Response to the "Market Failure" Drones - Thomas E. Woods, Jr. - Mises Institute
    And what was the rate of inflation, within the US, during that period? Similarly, what was the federal funds target rate?

    However unnecessary and undesirable a central bank is, they are not going anywhere anytime soon.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

  5. #85
    Traditionalist
    phattonez's Avatar
    Join Date
    Jun 2009
    Location
    Los Angeles, CA
    Last Seen
    12-05-17 @ 03:45 PM
    Gender
    Lean
    Other
    Posts
    20,072

    Re: Obama promises more than 600,000 stimulus jobs

    Quote Originally Posted by Goldenboy219 View Post
    The only government actions i support are: the general idea of a stimulus package (although i am not pleased with the first one), and all central banks easing credit markets. Because they have to....


    That's it

    Until you can show me specific posts where i am supporting "bailouts", lose the tude.
    That's still highly interventionist to me, which is why I get offended at your claim to be libertarian.

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

  6. #86
    Traditionalist
    phattonez's Avatar
    Join Date
    Jun 2009
    Location
    Los Angeles, CA
    Last Seen
    12-05-17 @ 03:45 PM
    Gender
    Lean
    Other
    Posts
    20,072

    Re: Obama promises more than 600,000 stimulus jobs

    Quote Originally Posted by Goldenboy219 View Post
    And what was the rate of inflation, within the US, during that period? Similarly, what was the federal funds target rate?

    However unnecessary and undesirable a central bank is, they are not going anywhere anytime soon.
    No response to the bogus claims of the fed not providing enough liquidity or deflationary spiral that my article showed false? Very nice.

    Rate of inflation? See, it's not that easy. Just going by the CPI, there wasn't much. However, this period shows that the CPI is not a reliable indicator of inflation. The money supply increased drastically, a 65% increase in the 8 years leading up to the depression. Compare it to the 128% increase between 1983 and 1987, and the 83% increase from 2000-2007, and you'll notice a nice correlation between TMS and recession. And who controls the TMS?

    Granted, correlation doesn't prove anything, but I have that theoretical argument that shows that it causes malinvestment.

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

  7. #87
    Sage
    Harry Guerrilla's Avatar
    Join Date
    Dec 2008
    Location
    Not affiliated with other libertarians.
    Last Seen
    09-01-17 @ 02:38 PM
    Gender
    Lean
    Libertarian
    Posts
    28,955

    Re: Obama promises more than 600,000 stimulus jobs

    Quote Originally Posted by phattonez View Post
    That's still highly interventionist to me, which is why I get offended at your claim to be libertarian.
    When the Fed was created it caused banks, that were traditionally lenders of last resort, to convert to just regular old banks.

    The Fed banks are the lenders of last resort, it is their job.
    Being a Libertarian, we keep telling people "don't let them do that" and "I told you so". It gets old being ignored.

    Instead of being ignored and ridiculed why not play the game we know so well?
    All the stupids make it so easy to earn a living off of their foolish actions.

    You can be a Libertarian and continue to warn people about the errors of the current government and still profit from it.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
    —Adam Shepard

  8. #88
    Traditionalist
    phattonez's Avatar
    Join Date
    Jun 2009
    Location
    Los Angeles, CA
    Last Seen
    12-05-17 @ 03:45 PM
    Gender
    Lean
    Other
    Posts
    20,072

    Re: Obama promises more than 600,000 stimulus jobs

    Quote Originally Posted by Harry Guerrilla View Post
    You can be a Libertarian and continue to warn people about the errors of the current government and still profit from it.
    Well, I am invested in the errors right now. Well, as much as a student can be. My oil stocks are paying off big time.

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

Page 9 of 9 FirstFirst ... 789

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •