repeter

I am currently at Harvard University in the SSP, and I am attending a Principles of Economics Class. This class is taught by Professor Bruce D. Watson, who is a rather accomplished economist. AT the end of our second lesson, I asked him how he thought Geithner, Obama, and Bernanke were doing in the economy. His response was that Obama is in fact helping the economy, and most economists agree he is helping the economy. Furthermore, he stated that the bailout bill might not be as bad as some people are crying out. He said that a number of things, such as an increase in the world economy itself as a whole, increased trade with EU, etc would decrease the debt, and would basically shut the GOP up.

Now, I obviously didn't have the time to ask him all the reasons why he thinks things are picking up, and I didn't record the conversation, or take a written statement, but I think you GOPer's out there should sit back, and just take a look at the facts. Unless you guys are all Harvard Economics Professors ( Harvard Business School was rated the best in the world in '08) and you all understand the constantly shifting variables involved in world economies, I don't think you can truthfully say you know more then my Professor. I don't understand it all, we just finished Supply and Demand Comparative Statics, so anything I would say would be empirical observations, or guesses but you can take my teacher's word for it.

If you want me to ask him in depth questions about how Obama's helping, just ask. It'll probably take a day for me to respond to any requests though.

__________________
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-Gaius Julius Caesar
The Only Thing to Fear is Fear Itself.
-Franklin Delano Roosevelt

donsutherland1

Repeter,

I'm sure Professor Watson is, in fact, arguing that the monetary policy and fiscal policy stimulus were necessary to help mitigate the output gap associated with the severe recession and to avoid a devastating deflationary spiral (points with which I agree). Few people today, in large part because they have no personal experience with such a situation, appreciate just how harmful a significant deflationary spiral would be, particularly in an era of high household debt.

Having said that, I'm sure that he would also agree that despite some indications of a slowing of the contraction and economic stabilization, substantial risks persist going forward. Some of those risks entail potential future shocks that could derail any recovery i.e., the collapse of a portion of Eastern Europe's banking system, adverse impact of a rising unemployment rate, etc. Other risks entail new developments that could arise i.e., the rise of inflation in the medium-term, a currency crisis (as has sometimes followed the collapse of asset bubbles), etc.

Finally, I'm sure that he would recognize that once the economy resumes a sustained growth path, there will come a point when the monetary policy stimulus has to be reduced to avoid the risk of a bout of elevated inflation (and that process could be somewhat complicated by the nature of some of the securities the Fed added to its balance sheet), though such a move is not likely to be necessary this year, and fiscal policy has to be readjusted so as to begin reducing the public debt.

justone

I am sure he would not. don1, you are a reasonable - even if totally brainwashed and ignorant - man. In no way or measure it can mean that the professor is as reasonable as you are. Moreover, I have a suspicion that you are providing some service in exchange for money in real life. You may be in charge of gathering and sorting some information for decision makers. For instance on DP you have been helpful in educating an uneducated and illiterate neocon. At least you have been making an honest attempt. In no way or measure it can mean that the professor would be able of making such an attempt. You have been useful for my decisions. I have been reading and listening to you. In no way or measure it can mean that the professor would be able to rise to your level.

I have told you many times that you think about people as of yourself. And I have been proving that all people are different.

justone

Thank you for disclosure. I will not make a laugh of your beliefs expressed in your post because you explained that you are an uneducated and brainwashed man. Moreover I am sympathetic to you, because it is difficult not to be brainwashed when you are accepted by of one of most prestigious schools (skipping the additive of liberalism).

As to your nut, liberal, professor and all 3 qualities in one – any time. This is what I do here – make the public see how pathetic such individuals are. Let him try or let you be the carrier between me and him – any time.

Let’s start from the fact that Obama has not destroyed the US yet. Thus an opinion of a Harvard professor about how good Obama is doing is not more valid that an opinion of my garbage man. It is an American thing. The facts of my garbage man if real as real are as good as of professor’s, the arguments if logical as valid as of professor’s. So far there is no indication in your post that my garbage man is less correct about Obama than your professor.

If there is anything he can say about the factors listed by don1 and agreed with by me - he is welcome to argue.

Lachean

You've made no economic arguments at all, just ad-hominem insults...

__________________
At the root of every civilized achievement, such as science, technology, progress, freedom--at the root of every value we enjoy today, including the birth of this country--you will find the achievement of one man, who lived over two thousand years ago: Aristotle.

SFLRN

That's why your garbage man is publishing in the AER (or you for that matter)?

celticlord

Besides teaching at Hahvahd, what has he done?

Oh, has he gotten tenure yet?

The Harvard Crimson :: News :: Beloved Ec10 TF To Depart

When does he get his PhD?

Faculty, V-X : Harvard Summer School 2009

justone

As usual your ears are plugged, your eyes are closed, you mouth is bubbling add-homes on reason and reality and you see no evidence, no arguments.

justone

My garbage man by definition is not publishing in the AER. Garbage men do not spread garbage on the public they clean up garbage. Suggesting the opposite you are publishing garbage here, on DP. Why don’t you bring it to the AER? No doubts they will take it.

SFLRN

You need to work your trolling abilities. This is rather low quality/generic trolling.