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Thread: Obama Calls for 'Full-Scale Attack' to Revive Struggling Economy

  1. #41
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    Re: Obama Calls for 'Full-Scale Attack' to Revive Struggling Economy

    You want a quick way to stimulate the economy, cut a bunch of $10k checks to the bottom 50% of income earners.
    It will be circulated through the economy and it will be done fast.
    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.
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    Re: Obama Calls for 'Full-Scale Attack' to Revive Struggling Economy

    Quote Originally Posted by Goldenboy219 View Post
    Yesterday, Krugman had an interesting article:







    The Trap We're In (Wonkish) - NYTimes.com
    The fed's wait and see policy, are we now ignoring the past 2 1/2 years of reckless fed policy.
    The Obama Deficit

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    Re: Obama Calls for 'Full-Scale Attack' to Revive Struggling Economy

    Quote Originally Posted by MaggieD View Post
    Not spending what it should? What the heck does that mean?
    There is a very direct relationship to spending and inflation. We are approaching deflation with short term rates approaching the zero bound; therefore spending (as a means of facilitating growth) is virtually non existent.
    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 Calls for 'Full-Scale Attack' to Revive Struggling Economy

    Quote Originally Posted by damianvincent View Post
    The fed's wait and see policy, are we now ignoring the past 2 1/2 years of reckless fed policy.
    Liquidationism is a pipe dream drawn up by those who have little if nothing to lose.
    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 Calls for 'Full-Scale Attack' to Revive Struggling Economy

    Quote Originally Posted by Goldenboy219 View Post
    There is a very direct relationship to spending and inflation. We are approaching deflation with short term rates approaching the zero bound; therefore spending (as a means of facilitating growth) is virtually non existent.
    Well with the feds quantitative easing plan, we've been lucky not to hit an inflationary bubble.
    The Obama Deficit

  6. #46
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    Re: Obama Calls for 'Full-Scale Attack' to Revive Struggling Economy

    Quote Originally Posted by damianvincent View Post
    Well with the feds quantitative easing plan, we've been lucky not to hit an inflationary bubble.
    If I'm not mistaken most spending done lately has been directed towards debt reduction, which I think is deflationary.
    Not a whole lot of luck, just natural consequences.
    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

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    Re: Obama Calls for 'Full-Scale Attack' to Revive Struggling Economy

    Quote Originally Posted by damianvincent View Post
    I don't have the time to comb through the 80's budgets and link who is responsible for what spending increases, that information is difficult to find on the Internet, not that it can't but you have to comb through so many docs for which I don't have the time. Sorry. However my statement was pretty common knowledge, in order for Reagan to get his tax cuts and defense increases he had to make concessions to the Democratic controlled Congress.
    You made a statement that said democrats were responsible for spending increases while later acknowledging (massive) military spending increases (AKA military Keynesianism). Just found it wildly ironic and wondered if you had a grasp of the fiscal picture.
    Last edited by Kushinator; 08-31-10 at 01:28 PM.
    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 Calls for 'Full-Scale Attack' to Revive Struggling Economy

    For those who don't know what quantitative easing means, it's a dangerous gamble the fed is taking now in an effort to save the economy.

    The term quantitative easing (QE) describes a monetary policy used by central banks to increase the supply of money in an economy when the bank interest rate, discount rate and/or interbank interest rate are either at, or close to, zero.[citation needed] A central bank does this by first crediting its own account with money it has created ex nihilo ("out of nothing").[1] It then purchases financial assets, including government bonds, mortgage-backed securities and corporate bonds, from banks and other financial institutions in a process referred to as open market operations. The purchases, by way of account deposits, give banks the excess reserves required for them to create new money, and thus a hopeful stimulation of the economy, by the process of deposit multiplication from increased lending in the fractional reserve banking system. Risks include the policy being more effective than intended, spurring hyperinflation, or the risk of not being effective enough, if banks opt simply to pocket the additional cash in order to increase their capital reserves in a climate of increasing defaults in their present loan portfolio.[1]

    Quantitative easing - Wikipedia, the free encyclopedia
    The Obama Deficit

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    Re: Obama Calls for 'Full-Scale Attack' to Revive Struggling Economy

    Quote Originally Posted by damianvincent View Post
    Well with the feds quantitative easing plan, we've been lucky not to hit an inflationary bubble.
    If we were to hit an inflationary bubble, wouldn't we be witnessing growth? Luck? Nope! Inflation is not even in the cards....
    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 Calls for 'Full-Scale Attack' to Revive Struggling Economy

    Quote Originally Posted by Deuce View Post
    Not paying federal income tax is not the same thing as not paying federal tax.
    Please explain. If you want to be accurate, exclude social security and unemployment insurance. Social security is a funded pension plan which most people think has worked pretty well. The unemployment insurance is being supplemented by government help rather than raising the rates.

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