Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Classic Keynesian economics is not really mainstream thought anymore. The truth is Republicans since Reagan have been flogging pseudo-economics. Things like Supply-side economic were correctly describe as voodoo economics.
In the last recession we used both fiscal and monetary stimulation to turn around the economy. That's a blend of Monetary and Keynesian philosophy.
The recession was Keynesian economics at play. Whether you can directly link it to the recovery is a different story. But the stimulus package is a Keynesian fundamental idea, to increase aggregate demand in times of economic contraction to stabilize output (GDP).
It was supported with various programs to stabilize output such as unemployment insurance, help for the needy, etc..
Keynesian is still mainstream and was brought back to life by the recession. Now economists are calling the modern economic thought "New Keynesian".
I don't know what "monetary" philosophy you're talking about. There's no such thing.
Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
27,606 posts, read 14,604,784 times
Reputation: 9169
Quote:
Originally Posted by fordtrucks
If you think accumulating 20 trillion dollars in debt is great. Well I guess Obama supporters are hopeless!!!
Only $10T of that was under Obama's presidency, and the debt doesn't matter, since realistically it's never going to be paid anyways. Final point, government debt in a country that issues it's own currency is nothing like household debt
Hmmm...I really wonder who was playing as Putin's puppet?
While Hillary Clinton’s State Department was one of eight agencies to review and sign off on the transfer of 20 percent of U.S. uranium to Russia — then-Secretary of State Clinton herself was the only agency head whose family foundation received $145 million in donations from multiple people connected to the uranium deal, as reported by the New York Times.
I have a bottom line question for people flogging this uranium deal as something important, which it isn't. Where is the uranium today?
I'll help you. Still in the good old U S of A. It didn't go to Russia, it stayed here. We still control it. Russiia can't export it without our permission.
Here's a relevant FACT you somehow omitted, even though it's THE single most important factor in causing everything on your pessimistic little "glass half empty" list above:
The GOP's tax cuts/trickle-down/deregulation policies led directly to the 2008 Great Recession. It has proven to be a tough one to recover from. But Obama did a good job, even though the Pub congress did everything in its power to torpedo the recovery.
The factors that led to the recession were multiple. However, the "eye of the storm" was the subprime mortgage toxic assets that were accumulated in the banking industry due to:
1. federal policy which eliminated "red lining"
2. mandates to fannie and Freddie to make home loans to unqualified buyers
3. elimination (through Clinton) of banking industry regulations
Liberal policy, in an effort to be "altruistic", nearly destroyed the economy in 2008.
You started a thread challenging posters by asking how our standard of living improved under President Obama. When a number of posters stepped up and accepted your challenge you changed your argument to the ACA, the national debt or any other straw you could grasp at. And then of course we have the misspell excused as a typo which fooled nobody. While others improved their standard of living as we got out of the recession you somehow managed to struggle.
Given all of this I'm not sure you are in the position to insulting and questioning the intelligence of other posters.
The factors that led to the recession were multiple. However, the "eye of the storm" was the subprime mortgage toxic assets that were accumulated in the banking industry due to:
1. federal policy which eliminated "red lining"
2. mandates to fannie and Freddie to make home loans to unqualified buyers
3. elimination (through Clinton) of banking industry regulations
Liberal policy, in an effort to be "altruistic", nearly destroyed the economy in 2008.
Want to be proven wrong? Take a macroeconomics course.
Because he sure didn't raise my standard of living. As matter of fact I don't know of anyone that said Obama raised their standard of living. So I'm still scratching my head why he's still favored by many...I just don't get it...
For such an anti-Obama person, you sure can't keep him out of your mind, can you?
Hmmm...I really wonder who was playing as Putin's puppet?
While Hillary Clinton’s State Department was one of eight agencies to review and sign off on the transfer of 20 percent of U.S. uranium to Russia — then-Secretary of State Clinton herself was the only agency head whose family foundation received $145 million in donations from multiple people connected to the uranium deal, as reported by the New York Times.
The recession was Keynesian economics at play. Whether you can directly link it to the recovery is a different story. But the stimulus package is a Keynesian fundamental idea, to increase aggregate demand in times of economic contraction to stabilize output (GDP).
It was supported with various programs to stabilize output such as unemployment insurance, help for the needy, etc..
Keynesian is still mainstream and was brought back to life by the recession. Now economists are calling the modern economic thought "New Keynesian".
I don't know what "monetary" philosophy you're talking about. There's no such thing.
Check the Federal Reserve and current interest rates.
When was the last time you heard an economist talk about a wage price spiral or the Philip's Curve? Classic Keynesian philosophy has been replaced. We still use fiscal stimulation, but we no longer try to fine tune the economy with fiscal policy, only monetary policy.
Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
27,606 posts, read 14,604,784 times
Reputation: 9169
Quote:
Originally Posted by DCforever
Check the Federal Reserve and current interest rates.
When was the last time you heard an economist talk about a wage price spiral or the Philip's Curve? Classic Keynesian philosophy has been replaced. We still use fiscal stimulation, but we no longer try to fine tune the economy with fiscal policy, only monetary policy.
Are you speaking of MMT?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
