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

  1. #51
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    Re: Obama Calls for 'Full-Scale Attack' to Revive Struggling Economy

    a typical DP (double post)
    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
    If we were to hit an inflationary bubble, wouldn't we be witnessing growth? Luck? Nope! Inflation is not even in the cards....
    No, not necessarily, the most famous example of this monetary policy is the Wiemar Republic.

    Combine it with the massive spending increases of the Administration and it's downright terrifying the tight rope walk they are now taking.
    Last edited by damianvincent; 08-31-10 at 01:39 PM.
    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
    I'm pretty sure we were talking about Obama's campaign pledge to lower taxes on 95% of American's.
    Which is BS since 95% od people don't even pay federal income taxes to start with!

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

    Quote Originally Posted by Harry Guerrilla View Post
    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.
    Can we say inflation? I knew we could! Notions like this seem like great ideas till you talk to someone that understands how the economy works, how money works, and why just giving people cash ain't gonna do much other then a very short term blip followed by long term repercussions.
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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

    Quote Originally Posted by donc View Post
    It would help the economy if the Republicans in the Senate would release the bill to increase small business lending. After all the majority of NEW jobs created are created by small businesses.
    Do you really believe that a $30 billion bill will greatly impact a $14 trillion ecnomy. Good for a bumper sticker, lousy economic logic.

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

    Quote Originally Posted by washunut View Post
    Which is BS since 95% od people don't even pay federal income taxes to start with!
    Yeah Obama was called out on this during the election
    The Obama Deficit

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

    Quote Originally Posted by MrVicchio View Post
    Can we say inflation? I knew we could! Notions like this seem like great ideas till you talk to someone that understands how the economy works, how money works, and why just giving people cash ain't gonna do much other then a very short term blip followed by long term repercussions.
    If we are still heading towards deflation, a little inflation won't kill us.
    But seriously if you had to choose between politicians giving "stimulis" money to their pet programs or just handing the money over to people.

    I'd choose the latter, it would have a greater and measurable effect on stimulating the economy.
    It would be like the "spring stimulus" we do with tax refunds every year anyway, just a bit greater.
    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 damianvincent View Post
    No, not necessarily, the most famous example of this monetary policy is the Wiemar Republic.
    No, not even close. The Wiemar Republic was printing money and paying war debts, purchasing goods, etc.... Since monetary policy is a directive of the Federal Reserve, we do not have to worry about such scenarios. If the Fed began purchasing bonds directly from the treasury, you would then have a valid point. Since it does not..., well you get the point.
    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
    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 Fed has not started QE2 yet. They are maintaining a stable balance sheet, not letting it shrink. They have not stated they would let it grow yet though.

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

    Quote Originally Posted by Goldenboy219 View Post
    No, not even close. The Wiemar Republic was printing money and paying war debts, purchasing goods, etc.... Since monetary policy is a directive of the Federal Reserve, we do not have to worry about such scenarios. If the Fed began purchasing bonds directly from the treasury, you would then have a valid point. Since it does not..., well you get the point.
    They are!!!

    http://www.google.com/search?hl=&q=f...US378&ie=UTF-8

    check it out, scary stuff going on out there.

    We can't sell our treasury securities on the open market like we where because of the long term debt picture, 10 trillion over 10 years, and the fed is now purchasing them with money printed out of thin air.
    Last edited by damianvincent; 08-31-10 at 01:43 PM.
    The Obama Deficit

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