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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 Gipper View Post
    "Economic crisis" is not synonymous with cake in my analogy. Keynesian theory is best when a bubble is growing, not after it bursts. It performs much better when acting as a preventative measure as opposed to a cure to an already existing problem.
    I don't understand how you get this out of Keynes.

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    Re: Economists: The stimulus didn't help

    Quote Originally Posted by obvious Child View Post
    Right now we are finally paying off Reagan era debt.
    LOL!

    really?

    right now?

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    Re: Economists: The stimulus didn't help

    Quote Originally Posted by The Prof View Post
    LOL!

    really?

    right now?
    Another display of how little you know in regards to government debt.

    Reagan was elected in '82. Given the high rate of interest at the time, and the explosion of debt (specifically long term), a good deal of Reagan era debt is approaching maturity.
    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: Economists: The stimulus didn't help

    Quote Originally Posted by Goldenboy219 View Post
    Another display of how little you know in regards to government debt.

    Reagan was elected in '82. Given the high rate of interest at the time, and the explosion of debt (specifically long term), a good deal of Reagan era debt is approaching maturity.
    The legislative branch has plenary authority to appropriate funds.

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    Re: Economists: The stimulus didn't help

    Quote Originally Posted by Goldenboy219 View Post
    Reagan was elected in '82.
    (You meant '80.)

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    Re: Economists: The stimulus didn't help

    Quote Originally Posted by 1984 View Post
    The legislative branch has plenary authority to appropriate funds.
    Remember that next time you or anyone else talks about "Obama's debt."

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    Re: Economists: The stimulus didn't help

    Quote Originally Posted by misterman View Post
    Remember that next time you or anyone else talks about "Obama's debt."
    Some of the debt belongs to Obama, just as some of the debt belongs to Reagan. Some of it belongs to Republican Senators, and some of it belongs to Democratic Senators.

    MOST of it belongs to liberal Democrats, though.

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    Re: Economists: The stimulus didn't help

    Quote Originally Posted by obvious child
    I find it interesting someone who's handle is the Gipper argues that Keynesian economics failed when Reagan was in many ways a Keynesian, pumping huge amounts of public money into the market buying up all kinds of stuff. Not to mention how Reagan went over to the Fed to get Volcker to reduce his war on inflation. Not exactly "non-interventionist." I do agree that the policies have long term repercussions. Right now we are finally paying off Reagan era debt.
    What he did was not close to what Obama is doing, and it's also not going to high-risk ventures that will create larger deficits in the long run. Reagan's investment created what is called "smart debt", and in that sense the investment didn't outpace inflation to the point where the real numbers were smaller than the nominal ones when placed on the current valuation model. In addition, Reagan didn't open a checkbook to deprivatize a good chunk of the GDP.

    Quote Originally Posted by Goldenboy
    Nope. Keynesian policy is a response to a current vs potential output gap. You must not understand the basis if you truly believe it to be "preemptive".
    I meant preemptive as in "during the bubble but before the burst", but not "before a bubble starts". That would be wasteful spending on a crapshoot. It has worked in the past to minimize fallout. The '87 crash was a prime example. The fallout from the stock market barely caused a ripple, even though that, when updated for inflation and TVM, was just as big and probably a little bit bigger than in '29 when the whole country went ape****. When he cushioned the real estate bubble that was forming in the mid 80s, he did a lot to soften the blow when the crap eventually hit the fan like it had to.

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    Re: Economists: The stimulus didn't help

    Quote Originally Posted by 1984 View Post
    Some of the debt belongs to Obama, just as some of the debt belongs to Reagan. Some of it belongs to Republican Senators, and some of it belongs to Democratic Senators.
    But you said:

    The legislative branch has plenary authority to appropriate funds.

    MOST of it belongs to liberal Democrats, though.
    Prove it.

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    Re: Economists: The stimulus didn't help

    Quote Originally Posted by Goldenboy219 View Post
    a good deal of Reagan era debt is approaching maturity.
    oh, absolutely

    and america is PAYING OFF THOSE DEBTS

    TODAY!

    LOL!

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