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Thread: Economists: The stimulus didn't help

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    Re: Economists: The stimulus didn't help

    Quote Originally Posted by Taylor View Post
    Economists say the stimulus didn't help - Apr. 26, 2010

    Surely to be followed by a "it wasn't big enough" response from the far left. A majority of economists believe that this debt monster failed to provide the boost that was promised.
    Before I even read this piece I want to know what kind of jackass 'economist' would even make that assertion less than five years in *and* before the entire package has been put into effect.

    Are they making predictions or committing professional suicide by rendering a final opinion no legitimate economist would make this early?

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    Re: Economists: The stimulus didn't help

    I don't know if the stimulus had an effect, but I don't trust these people. They work for private sector firms. The private sector is happy to receive bail-out money, but unhappy with anything else.
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    Re: Economists: The stimulus didn't help

    Quote Originally Posted by hazlnut View Post
    Before I even read this piece I want to know what kind of jackass 'economist' would even make that assertion less than five years in *and* before the entire package has been put into effect.

    Are they making predictions or committing professional suicide by rendering a final opinion no legitimate economist would make this early?
    Well, one turd predicted unemployment would go above 9% if the stimuli wasn't passed.

    And a big smelly one emerged from Congress.

    Predickshun failt.

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    Re: Economists: The stimulus didn't help

    Quote Originally Posted by 1984
    This is the main failing of Keynesian economics, i.e., it is overly concerned with short run economic conditions - it fails utterly in the long run.
    In America's defense though, they didn't learn their lesson with the New Deal, so they were bound to keep repeating mistakes of the past. Any classicist could see that you were on the verge of creating a dependent nanny state unless you repealed many of the legislative highlights after they stopped being absolutely necessary. Unfortunately, they couldn't distinguish between short-term recovery and long-term wealth.

    Now the problem you have is from these neo-Keynesian liberal blowhards who have absolutely no conceptual vision on scarcity and run massive fiscal recycling programs through big-tent policies.

    And if you need further proof that throwing money at a problem doesn't necessarily mean it goes away, take a look at the American public school system. Damning evidence as far as the eye can see.

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    Re: Economists: The stimulus didn't help

    Are they making predictions or committing professional suicide by rendering a final opinion no legitimate economist would make this early?
    They work for the private sector and understand polls influence public policy.

    I can think of lots of things that should influence public policy. Polls are not high on the list.
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    Re: Economists: The stimulus didn't help

    Quote Originally Posted by 1984 View Post
    The stimulus obviously helped, but it helped government employees and unions mostly - as this poll indicates, the private sector had little use for it; the multiplier effect served to increase aggregate demand, as Don pointed out, but there is no way to accurately or precisely quantify that effect without making some assumptions and inferences.

    To me, it was a poorly constructed spending project; it was nothing more than a slush fund for the private sector, really. A more targeted and temporary stimulus with a larger emphasis on tax breaks and private sector incentives would have worked better.
    The stimulus was about a third tax breaks, I assume that wasn't enough?
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    Re: Economists: The stimulus didn't help

    Quote Originally Posted by 1984 View Post
    This is the main failing of Keynesian economics, i.e., it is overly concerned with short run economic conditions - it fails utterly in the long run.
    Keynsian stimulus isn't meant to be a "long term" solution in the first place. Strawman.

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    Re: Economists: The stimulus didn't help

    Quote Originally Posted by Dezaad View Post
    Keynsian stimulus isn't meant to be a "long term" solution in the first place. Strawman.
    Don't tell it to Galbraith.

    Why is it then that the Socialists of America Party (SAPs) have a one track economic mind?

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    Re: Economists: The stimulus didn't help

    Quote Originally Posted by Dezaad
    Keynsian stimulus isn't meant to be a "long term" solution in the first place. Strawman.
    You completely missed his point. He was saying that when Keynesian should have taken a back seat, the powers that be - under coercion of the constituants - kept it going.

    Every economist knows that classicism addresses the long run and Keynesian policies address the short run. What some people fail to realize is when to switch from one back to the other. A powerful, capitalist state should treat classic economics like vegetables and Keynesian economics like cake. Unfortunately, the dumber the people, the more they just revert to base instinct to eat all the cake they can shove down their throats while going "yucky" at veggies, even though it creates a lazy, fat, early-death populace.

    Sure, everyone loves cake. It requires severe moderation though, just like Keynesian-based legislature.

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    Re: Economists: The stimulus didn't help

    Quote Originally Posted by Gipper View Post
    You completely missed his point. He was saying that when Keynesian should have taken a back seat, the powers that be - under coercion of the constituants - kept it going.

    Every economist knows that classicism addresses the long run and Keynesian policies address the short run. What some people fail to realize is when to switch from one back to the other. A powerful, capitalist state should treat classic economics like vegetables and Keynesian economics like cake. Unfortunately, the dumber the people, the more they just revert to base instinct to eat all the cake they can shove down their throats while going "yucky" at veggies, even though it creates a lazy, fat, early-death populace.

    Sure, everyone loves cake. It requires severe moderation though, just like Keynesian-based legislature.
    "People are too stupid to know what's good for them". Thanks, gipper
    The Makeout Hobo is real, and does indeed travel around the country in his van and make out with ladies... If you meet the Makeout Hobo, it is customary to greet him with a shot of whiskey and a high five (if you are a dude) or passionate makeouts (if you are a lady).

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