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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
    Explain to all of us the current situation regarding long term interest rates.
    about as low as they can go, hense quanitive easing. I have to leave real soon wish I could. But more debt will kill this country, sound fiscal policy is needed now, and Bernankee and Obama are destroying this economy.
    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
    The gold-plated credit rating of the United States — an article of faith across America and, indeed, around the world — may be at risk in coming years as the nation copes with its growing debts.

    The gold-plated credit rating of the United States — an article of faith across America and, indeed, around the world — may be at risk in coming years as the nation copes with its growing debts.

    That sobering assessment, issued Monday by Moody’s Investors Service, provided a reminder that even Aaa-rated United States Treasury bonds, supposedly the safest of safe investments, could be downgraded one day if Washington failed to manage the federal debt.

    Moody’s said the United States and other major Western nations, particularly Britain, have moved “substantially” closer to losing their gilt-edged ratings. The ratings are “stable,” but “their ‘distance-to-downgrade’ has in all cases substantially diminished,” the credit ratings agency said.

    A downgrade would affect more than American pride. The bigger risk would be to the country’s ability to keep borrowing money on extremely favorable terms, and therefore to keep spending more money than it takes in from tax revenue.

    What would happen if the world’s largest economy goes into a full-fledged depression?
    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 Harry Guerrilla View Post
    Poor people spend money, doesn't matter if some of it goes to foreign made products as American businesses get a nice cut off the top, it isn't about making low income people better but stimulating the economy.

    I don't like these things but I'm not pretending to believe that the American government will magically stop redistributing income.
    If my choices are 1. crazy pet projects designed by politicans to stimulate the economy or 2. creating a direct consumer stimulus, I'll choose 2.
    It's more effective than 1.
    I choose none of the above. The harsh reality that most people do not want to talk about is that we never had an economy that generated the income to support the US lifestyle for the last 10-20 years. So we need to find a new baseline. Creating debt to fix our debt problem seems like lunacy to me.

    Also remember that when people talk about getting unemployment down etc that something like 15% of GDP usually comes from the housing market. No matter how many roads we pave housing is not going to materially improve until the excess inventory is burned off. That excess includes probably about the last 8% of people who bought homes that could not afford them, even before the downtun in the economy. So we have too many homes and employment in housing will continue to be a problem.

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

    Quote Originally Posted by Goldenboy219 View Post
    Said with such confidence and analysis
    I've all ready expressed why. I also shot down your silly notion that giving away money we don't have would do anything good for the economy, and I debunked your silly commentary on why the Government needs to step in to spend cause "the private sector isn't".

    If you don't respond to those, why should I keep repeating myself?
    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
    What would happen if the world’s largest economy goes into a full-fledged depression?
    These policies are making it worse, and are dangerous gambles.
    The Obama Deficit

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

    Quote Originally Posted by washunut View Post
    I choose none of the above. The harsh reality that most people do not want to talk about is that we never had an economy that generated the income to support the US lifestyle for the last 10-20 years. So we need to find a new baseline. Creating debt to fix our debt problem seems like lunacy to me.

    Also remember that when people talk about getting unemployment down etc that something like 15% of GDP usually comes from the housing market. No matter how many roads we pave housing is not going to materially improve until the excess inventory is burned off. That excess includes probably about the last 8% of people who bought homes that could not afford them, even before the downtun in the economy. So we have too many homes and employment in housing will continue to be a problem.
    Well self directed consumer spending, via a stimulus, can restore some economic confidence.
    It can establish new trends in the market and get businesses putting people back to work.

    The housing market will take more time to work itself out, on the other hand, we don't necessarily need those jobs in housing.
    It's more efficient to have those people going into other value added fields.

    Edit: following it up with a firm governmental debt reduction plan and you have a home run.
    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 MrVicchio View Post
    Dude, the Private sector is holding back cause of impending new taxes, regulations and demands from Washington. Cap and Trade, yeah that passes it will hit EVERY business, this Obamacare mess? Impending new expenses. The Bush Tax Cuts expiring? More expenses. CO2 Regulation from the EPA? MORE cost.

    Businesses respond poorly to added expenses. And Gov't can't fix that with it's own spending.
    What a short sided view of private industry. When the going gets tough, the tough.... stay home Remember the time when petro prices shot to $140/barrel? I did not see a glut of firms marginally decrease their expenditures due to higher costs (instead they increased their prices as any good company does during an economic expansion). Ask any of our resident truckers if they suddenly felt like "working less" due to higher input costs. There is a major difference between the two time periods.... It is commonly referred to as demand. Yeah, it seems to be lacking at the moment.
    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 MrVicchio View Post
    I've all ready expressed why. I also shot down your silly notion that giving away money we don't have would do anything good for the economy, and I debunked your silly commentary on why the Government needs to step in to spend cause "the private sector isn't".

    If you don't respond to those, why should I keep repeating myself?
    Bits of opinions are a means to debunk? Ha, only in your mind.
    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 Harry Guerrilla View Post
    Well self directed consumer spending, via a stimulus, can restore some economic confidence.
    It can establish new trends in the market and get businesses putting people back to work.

    The housing market will take more time to work itself out, on the other hand, we don't necessarily need those jobs in housing.
    It's more efficient to have those people going into other value added fields.

    Edit: following it up with a firm governmental debt reduction plan and you have a home run
    .
    The bold is crucial!
    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

  10. #90
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    Re: Obama Calls for 'Full-Scale Attack' to Revive Struggling Economy

    Quote Originally Posted by Goldenboy219 View Post
    The bold is crucial!
    Almost slipped my mind.

    Once the economy is going, I think a good bit of government austerity combined with increased taxes should fix it.
    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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