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

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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.
    And so that's a reason to take even more money out of the private sector? If they weren't spending before, how on earth will a tax increase help?
    The devil whispered in my ear, "You cannot withstand the storm." I whispered back, "I am ​the storm."

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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.
    Inflation is ever so desirable in this economic climate. Well, not true. If you do not own anything, have any assets, etc..., then no inflation (or deflation) creates a scenario of indifference.
    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

    damianvincent

    What would help small business is certainty in regards to the Bush tax cuts, will they expire, will they extend them.
    They need the dough now not next April. Besides, the majority of the small businesses wouldn’t be effected one way or the other by the sun setting on the bush tax cuts.



    Another thing that would help small business, is to remove the massive costs they are soon to face due to Obamacare.
    Most of obama care doesn’t take effect until 2014,they need help now.

    Obama wants to pay for this small business package, a one time shot, with more taxes, a permanent revenue stream.
    SO…they need the money now. Let them fiddle with their Roths in 2011 and 2012; whatever it takes.
    The haggardness of poverty is everywhere seen contrasted with the sleekness of wealth, the exhorted labor of some compensating for the idleness of others, wretched hovels by the side of stately colonnades, the rags of indigence blended with the ensigns of opulence; in a word, the most useless profusion in the midst of the most urgent wants.Jean-Baptiste Say

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

    Quote Originally Posted by MaggieD View Post
    And so that's a reason to take even more money out of the private sector? If they weren't spending before, how on earth will a tax increase help?
    It's living with the system you have, I hate it but to make it work better you have to do things like this.
    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
    Inflation is ever so desirable in this economic climate. Well, not true. If you do not own anything, have any assets, etc..., then no inflation (or deflation) creates a scenario of indifference.
    I was seriously enjoying the food prices that seemed to be going down during the beginning of the recession, the only problem was that work wasn't staying steady.
    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

    In essence, what happens is that the Federal Reserve creates money out of thin air and starts buying things like U.S. Treasuries, mortgage-backed securities and corporate debt. But many economic analysts are now warning that further rounds of quantitative easing by the Federal Reserve could end up setting off a series of events that could ultimately unleash economic hell. In fact, there are quite a few high profile commentators who now believe that hyperinflation in the United States is absolutely inevitable.

    Will Further Quantitative Easing By The Fed Destroy The U.S. Financial System? | Daily Markets

    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,

    http://en.wikipedia.org/wiki/Quantitative_easing
    Last edited by damianvincent; 08-31-10 at 01:47 PM.
    The Obama Deficit

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

    Quote Originally Posted by Goldenboy219 View Post
    Inflation is ever so desirable in this economic climate. Well, not true. If you do not own anything, have any assets, etc..., then no inflation (or deflation) creates a scenario of indifference.
    If you gave 50% of wage earners 10k, you'd have a situation of too much money chasing too few goods. Inflation. Long term effects would be caused by "Where did this money magically come from? More borrowing? Just printed for fun?"
    Last edited by Renae; 08-31-10 at 01:47 PM.
    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 MrVicchio View Post
    If you gave 50% of wage earners 10k, you'd have a situation of too much money chasing too few goods. Inflation. Long term effects would be caused by "Where did this money magically come from? More borrowing? Just printed for fun?"
    It would boost direct consumer spending, which is what we are wanting.
    Remember that it isn't $10k per person but $10k per family, which doesn't make it as much as you think.
    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

    The decision by the Fed to buy government bonds and mortgage-related securities is designed to lower borrowing costs for home mortgages and other types of loans, thereby stimulating economic activity. The central bank, effectively, will print more money to pay for the purchases.

    Fed to Pump $1.2 Trillion Into Markets - washingtonpost.com



    Hopefully we're not missing the 800 pound gorilla in the room guys.
    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
    And so that's a reason to take even more money out of the private sector? If they weren't spending before, how on earth will a tax increase help?
    Let me explain so not to miss anything important.

    When an economy is expanding, tax receipts (naturally) increase. When an economy is shrinking, tax receipts (naturally) decrease. During a period of shrinking tax receipts, spending as a whole begins to decelerate creating even greater downward growth prospects. Unless..... someone begins spending. That someone was the federal government; in a half assed attempt to minimize unemployment. Half assed? Why? Because the stimulus (as i have said from Jan 2009) was about half the size needed to meet the presidents prediction(s). It is pretty certain that without another stimulus package of equal or greater magnitude (along with total infrastructure focus), the US economy will slip back into recession within 6-9 months as global stimulus fades.

    If private business was spending, there would be no need for fiscal stimulus.

    Tax increases are necessary to make up the deficit spending required by government because the private sector was unwilling to step up when needed.
    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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