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Thread: New Obama plans: 'spend our way out' of downturn

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    Re: New Obama plans: 'spend our way out' of downturn

    Quote Originally Posted by apdst View Post
    What percentage of our oil do we import? You're ok with trade deficits? Since we're talking actual economic stuff and all.
    Yes i am OK with trade deficits as they allow the citizens of this country to live outside their production possibilities frontier all while we continue, to a great degree, specialization in which the most efficient allocation of resources is achieved.

    Oh yeah, about 280,000 barrels per month.

    Why did you not answer my questions?
    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

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    Re: New Obama plans: 'spend our way out' of downturn

    [quote=misterman;1058412438]
    Quote Originally Posted by ptif219 View Post
    You are not defending? [/img]

    No, just explaining the theory. Why is that a hard concept to understand?



    Never said that. Never said it was good. Please try to stick to reality.
    I am you keep defending Obama and the stimulus

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    Re: New Obama plans: 'spend our way out' of downturn

    Quote Originally Posted by misterman View Post
    Sorry, I should have written all imports on natural resources.

    Still insane.
    Again, show me where I said anything about all imports, on anything. You definitely need to re-read my post.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: New Obama plans: 'spend our way out' of downturn

    Quote Originally Posted by Goldenboy219 View Post
    Yes i am OK with trade deficits as they allow the citizens of this country to live outside their production possibilities frontier all while we continue, to a great degree, specialization in which the most efficient allocation of resources is achieved.

    Oh yeah, about 280,000 barrels per month.

    Why did you not answer my questions?
    No matter how many Americans are unemployed. Right?
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: New Obama plans: 'spend our way out' of downturn

    Quote Originally Posted by apdst View Post
    No matter how many Americans are unemployed. Right?
    Increased consumption via trade does not lead to unemployment. If it did, the unemployment rate would have been steadily increasing on par with the current account deficit; it did not....

    Specialization however leads to more efficient allocation of resources.
    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

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    Re: New Obama plans: 'spend our way out' of downturn

    Quote Originally Posted by Goldenboy219 View Post
    Increased consumption via trade does not lead to unemployment. If it did, the unemployment rate would have been steadily increasing on par with the current account deficit; it did not....

    Specialization however leads to more efficient allocation of resources.
    It does when you have workers unemployed in this country, all the while you are buying the product they produce from another country. That's just common sense.

    How many farmers and ranchers would go out of business if we started importing more food from other countries? Quite a few, huh?
    Last edited by apdst; 12-09-09 at 07:01 PM.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: New Obama plans: 'spend our way out' of downturn

    Quote Originally Posted by boblzer0 View Post
    clean and coal don't belong together in the same sentence
    tell it to byrd and rockefeller

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    Re: New Obama plans: 'spend our way out' of downturn

    Quote Originally Posted by Whip Comes Down View Post
    What would you hope to accomplish by doing that, Professor?
    you have to ask?

    LOL!

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    Re: New Obama plans: 'spend our way out' of downturn

    Quote Originally Posted by misterman View Post
    Did I not just say I'm not defending this particular stimulus?
    few are

    I'm explaining the theory behind it
    gosh, thanks

    it's not like Obama promised to employ every single person.
    no, just 92% of us

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    Re: New Obama plans: 'spend our way out' of downturn

    Quote Originally Posted by apdst View Post
    It does when you have workers unemployed in this country, all the while you are buying the product they produce from another country. That's just common sense.
    Your error is that you assume capital/labor mobility to be infinite. It isn't. The amount of central planning required to eliminate energy imports, construct oil rigs, piping and infrastructure, equipment, locate possible employees/train them, etc... would be insane!

    Given relative resource availability (vs say Canada, Saudi, etc...), higher wages, and environmental constraints, such a move would require massive subsidies to keep competitive.

    How manny farmers and ranchers would go out of business if we started importing more food from other countries? Quite a few, huh?
    National security, transportation costs, quality, subsidies etc... keep such a thing from possibly happening. Food is essentially renewable though, oil is not.
    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

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