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Thread: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by Goobieman View Post
    Yes! Please!

    Waiting for proof of this claim:
    Remove a minimum of $1.3 trillion in spending in the US econom

    What do you think would happen.

    More job loss's, more foreclosures, leading to more people being underwater on their mortgages, leading to more bank loss's and further declines in lending

    Overall creating a downward spiral, when it would stop is unclear but it certainly would have been far worse then what the US has experienced so far

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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by The Prof View Post
    the stimulus wasn't big enough

    8.9% unemployment will lead us out

    we'll pay the one tril per year with inflation


    and tax hikes

    while steady growth continues

    fannie and fred were raised roofless because the expectation is foreclosures have bottomed out

    50 years of deficit spending have greatly reduced the number and severity of recessions

    the macro stabilizers are coherent and effective

    lines are out the door at applebees

    LOL!
    Yes, I would be expecting inflation to come roaring back into the US economy.

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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    that's what happens when the dollar collapses

    despite the presence of decades of stabilizers

    LOL!

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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by The Prof View Post
    the stimulus wasn't big enough, 8.9% unemployment will lead us out, we'll pay the one tril per year with inflation, and tax hikes, while steady growth continues, fannie and fred were raised roofless because the expectation is foreclosures have bottomed out, 50 years of deficit spending have greatly reduced the number and severity of recessions, he macro stabilizers are coherent and effective, lines are out the door at applebees

    LOL!
    8.9% unemployment will (IMHO) begin to tell the tail of inflation, and therefore monetary stimulus will begin to be retracted. I also believe once the initial rate hikes begin, the Fed will begin taxing banks on their excess reserves. Time will tell.

    BTW, deficits do not create economic growth, but during economic contractions can most definitely smooth business cycles dynamism.
    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: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by The Prof View Post
    that's what happens when the dollar collapses

    despite the presence of decades of stabilizers

    LOL!
    Where does this sentiment come from? The dollar is going to collapse? If so, then why are you on a message board and not in Hawaii, Jamaica, Aruba, etc... living up the last days of pre greater depression society?

    If i shared your sentiment, that's exactly where i'd be!
    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: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by ptif219 View Post
    It was not close. Your spewing Obama fear mongering talking points. As The link I used points out it was very close to Reagan.
    The early 80's recession was a steep and harsh one, because Volker finally called for an end to the high inflation rates of the US. He raised the fed funds rates to very high levels, which caused a decrease in overall economic activity. That is why that recession occured

    This recession is due to deb fueled bubbles being burst. When a debt fueled bubble bursts you tend to see deflation. In a heavily indebted nation deflation is the last thing you want to see as it makes debt repayment harder and harder. Overall you end up with a downward spiral that causes economic activity to decrease, leading to further deflation and so on

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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by Lord Tammerlain View Post
    The early 80's recession was a steep and harsh one, because Volker finally called for an end to the high inflation rates of the US. He raised the fed funds rates to very high levels, which caused a decrease in overall economic activity. That is why that recession occured

    This recession is due to deb fueled bubbles being burst. When a debt fueled bubble bursts you tend to see deflation. In a heavily indebted nation deflation is the last thing you want to see as it makes debt repayment harder and harder. Overall you end up with a downward spiral that causes economic activity to decrease, leading to further deflation and so on
    Wow, finally someone with some understanding in economics and finance.
    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: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    you're the one forecasting inflation sufficient to finance ONE TRIL OF SERVICE PAYMENTS per year

    LOL!

    i'm afraid this time keynes has simply bit off more than any economist (or waiter at applebees) can chew

    america simply cannot afford ONE TRIL per year of INTEREST

    despite cyclical smoothing

    regardless of what many of the foremost financial minds on the planet (LOL!) say

    we simply cannot afford it

    sorry

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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by The Prof View Post
    you're the one forecasting inflation sufficient to finance ONE TRIL OF SERVICE PAYMENTS per year

    LOL!

    i'm afraid this time keynes has simply bit off more than any economist (or waiter at applebees) can chew

    america simply cannot afford ONE TRIL per year of INTEREST

    despite cyclical smoothing

    regardless of what many of the foremost financial minds on the planet (LOL!) say

    we simply cannot afford it

    sorry
    Sure the US can withstand 1 trillion of interest, if the economy was double the size it is today. A high enough inflation rate can make that occur within 4 years say about 18%

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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by Lord Tammerlain View Post
    Sure the US can withstand 1 trillion of interest, if the economy was double the size it is today. A high enough inflation rate can make that occur within 4 years say about 18%
    18% will be a bit high, and i highly doubt the fed will allow it to get that far. But 6%-8% will be more likely IMHO; combined with economic growth and higher taxes, the treasury will not have any problems.
    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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