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Thread: LA Times: Obama stimulus spending: $246,436 per new job

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    Re: LA Times: Obama stimulus spending: $246,436 per new job

    Quote Originally Posted by misterman View Post
    No, it's because tax cuts go mostly to the wealthy, who are less likely to spend the money immediately. They will stash it away. We need spending, now.
    does buying crack stimulate the economy? lol ok i just had to, about as dumb as claiming the rich will just stash it away.

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    Re: LA Times: Obama stimulus spending: $246,436 per new job

    Quote Originally Posted by boblzer0 View Post
    does buying crack stimulate the economy? lol ok i just had to, about as dumb as claiming the rich will just stash it away.
    This is basic economic theory. Go read an economics textbook.

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    Re: LA Times: Obama stimulus spending: $246,436 per new job

    Quote Originally Posted by Erod View Post
    Lots and lots and lots of people have money to invest in the market. It's buried in their back yards right now because they're waiting for certainty that Obama won't make them pay for doing so.
    What's that mean?

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    Re: LA Times: Obama stimulus spending: $246,436 per new job

    Quote Originally Posted by misterman View Post
    This is basic economic theory. Go read an economics textbook.

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    Re: LA Times: Obama stimulus spending: $246,436 per new job

    Misterman,

    I apologize for leaving your alone to argue with those who's arguments possess little if any substance.

    For the rest of you.... What is a recession? What happens to people's desire to spend during a recession? What does this cause firms to do in regards to their labor force? What effect does this have on total consumption (70% of the economy)?

    Lets start out slow shall we?
    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: LA Times: Obama stimulus spending: $246,436 per new job

    Something interesting: The Internet!

    We are all here arguing about stimulus spending because of it. What was the name of the private firm, or the names of the private firms that allocated the resources that are responsible for its creation?
    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: LA Times: Obama stimulus spending: $246,436 per new job

    Quote Originally Posted by boblzer0 View Post
    Wow, even less substance.

    Is it not basic economic theory? You don't have to agree with the theory, but is it not something many good economists believe and have studied in detail?

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    Re: LA Times: Obama stimulus spending: $246,436 per new job

    Quote Originally Posted by Goldenboy219 View Post
    Misterman,

    I apologize for leaving your alone to argue with those who's arguments possess little if any substance.
    Damn youuuuuuuuu!

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    Re: LA Times: Obama stimulus spending: $246,436 per new job

    Quote Originally Posted by misterman View Post
    No, it's because tax cuts go mostly to the wealthy, who are less likely to spend the money immediately. They will stash it away. We need spending, now.
    That's hilarious. You ignore some important points (especially a post of mine you never responded to):

    1: Money isn't just saved irrationally. Saved money will eventually be spent.
    2: People save money for security. If you borrow against that and then some, you deplete their savings. When you do this, people will want that security back and they will find a way to do it.
    3: When money is loaned, the next loan automatically becomes harder to get. So when government gets loaned all of this money, it means that private companies will find credit harder to come by.

    You may say then that we'll just loan more money, you know, a fractional reserve scheme. Well when you do this, you're basically creating capital out of thin air. Did that sound weird to you? Because it did to me. You cannot create capital goods out of thin air. If you loan out capital that doesn't exist, you create a bubble, and is that really what we want right now?

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

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    Re: LA Times: Obama stimulus spending: $246,436 per new job

    Quote Originally Posted by Goldenboy219 View Post
    For the rest of you.... What is a recession? What happens to people's desire to spend during a recession? What does this cause firms to do in regards to their labor force? What effect does this have on total consumption (70% of the economy)?

    Lets start out slow shall we?
    So often Austrians get labeled as too simplistic, but this question is too simplistic. It ignores that some firms do grow during a recession.

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

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