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Old 07-28-2017, 10:00 AM
 
1,937 posts, read 1,329,497 times
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Quote:
Originally Posted by cttransplant85 View Post
8 years of 0% interest rates, massive stimulus packages, 10 trillion dollars in deficit spending; We never reached 2% growth, the entire market turned into a game of "lets see what the fed does" no fundementals were being looked at at all. We used every government tool possible to stimulate growth and it didn't work. Without growth being at or near historic norms we will never beable to afford this level of government we have. Thankfully we now have an actual pro-growth government in place focused on things that will actually grow our economy like increasing productivity, getting government out of the way. Yes there will be a business cycle, malinvestment during the stronger years will have to be corrected but hopefully we never resort to these exotic government measures that don't work again.

It's not about growing the economy. It's about making the global banksters rich on the fiat currency ponzi scheme.

Growing the economy.... that's just the carrot on the end of the stick.
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Old 07-28-2017, 12:37 PM
 
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Originally Posted by Pub-911 View Post
"Everything that can be invented has been invented."

It doesn't really matter whether Charles Duell actually said that in 1899 or not. The point here is that such statements have never been correct and are never likely to be.

Sort of like claims that Keynesians have been proven wrong.
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Old 07-28-2017, 12:38 PM
 
Location: Gainesville, FL
190 posts, read 195,858 times
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Originally Posted by damba View Post
I wonder if Charles Duell was the one who invented the goalpost?
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Old 07-28-2017, 01:05 PM
 
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Originally Posted by Avram42 View Post
I wonder if Charles Duell was the one who invented the goalpost?
Yes, and the other celebrated example of pessimism-gone-ridiculous is Prof. Phillip von Jolly, telling the young Max Planck, not to go into physics, as the pivotal questions in physics have already been answered, leaving only the piddling scraps to mop up. That was in the 1870s. 30 years later, Planck was one of the progenitors of modern physics.

And then there's the infamous "this time it's different".

Well, my point is that over my lifetime - and I'm mid/older Gen-X - it feels that the rate of innovation is slowing down. This may of course be personal bias, but decade after decade, it seems that there's less novelty, less transformative new-stuff that substantially revises our lives. Going back a couple of generations prior, it is entirely common to meet older people - now say in their 70s and 80s - who grew up without indoor plumbing. Then around the year 1997, they got their personal computer and internet connection. And nothing much has changed since then. OK, film cameras were replaced with digital, so now grandma uploads her photos to Facebook, instead of sending a fat envelope for Christmas with photos of the grandkids. But is that really so transformative?
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Old 07-28-2017, 01:44 PM
 
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Remember phone booths? What happened there? Does anyone think that smart phones have not been a transformative technology?
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Old 07-28-2017, 03:52 PM
 
Location: Oregon, formerly Texas
5,242 posts, read 3,403,041 times
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The internet has not had the impact of the automobile or airplane, but it is quite significant.
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Old 07-29-2017, 07:23 PM
 
Location: Ubique
4,058 posts, read 2,935,756 times
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In developed societies birth rates have generally tracked GDP growth. People just have more babies when times are good. Again, this is for developed countries, not talking about China, Inda etc.

Higher economic growth will heal many wounds.

Businesses "playing defense" is a drag on productivity. We're not new at this. We have at least data for the last 150 years. Govt activism and economic expansion have an inverse relationship. Keynes advocated activism in certain conditions. It's like prescribing icecream for after dinner, and others misrepresenting it as if Keynes prescribed icecream for 3 square meals a day.
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