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Old 05-14-2012, 12:27 PM
 
Location: NJ
31,771 posts, read 40,533,504 times
Reputation: 24590

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Quote:
Originally Posted by Jesse276 View Post
If nobody knows the answer, why base policy on the confidence fairy? Sure, a government can wait out the downturn, leaving millions of people under/un-employed. That does real long term damage to the economy, country & its people.
i find it ridiculous that you accuse me of being "simple minded" and you state the above. you are implying that there is a route that can be taken that has guaranteed success, otherwise you are basing policy on the "confidence fairy." so which route guarantees success? it seems you support more "stimulus" spending, so you are saying that route guarantees success? suggesting that you believe it would succeed because x, y and z isnt sufficient, i need a guarantee.
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Old 05-15-2012, 04:36 PM
 
30,873 posts, read 36,808,045 times
Reputation: 34451
Quote:
Originally Posted by DSOs View Post
However, this logic doesn’t work unless you raise taxes & pay down some deficits during the good times. For whatever reason, NOBODY wants to pay down some deficits during the good times!
Correct. This is the inherent problem with Keynesian economics. It totally fails to take human nature into account.
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Old 05-19-2012, 08:31 PM
 
Location: NJ
31,771 posts, read 40,533,504 times
Reputation: 24590
looks like ireland may need another bailout. a big part of the problem is that these countries are all connected and the dumb actions of one member can cancel the wise actions of another.

Euro austerity example Ireland 'may need second bailout' - Telegraph
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Old 05-22-2012, 06:35 PM
 
12,999 posts, read 18,827,676 times
Reputation: 9236
I read his book. A good work. If his prescription were followed millions could go back to work and get our country on track. Not only that, but a lot of our infrastructure is structurally deficient or functionally obsolete, defects hidden by lower traffic. Imagine if we could bring it up to snuff while the labor is available and be ready for the heavier loads resulting from a stronger economy. Politically, though, not likely.
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Old 05-22-2012, 06:38 PM
 
28,896 posts, read 54,003,889 times
Reputation: 46663
Quote:
Originally Posted by pvande55 View Post
I read his book. A good work. If his prescription were followed millions could go back to work and get our country on track. Not only that, but a lot of our infrastructure is structurally deficient or functionally obsolete, defects hidden by lower traffic. Imagine if we could bring it up to snuff while the labor is available and be ready for the heavier loads resulting from a stronger economy. Politically, though, not likely.
Oh, wait. You must be thinking of Milton Friedman.
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Old 05-23-2012, 01:17 PM
 
218 posts, read 505,470 times
Reputation: 323
Quote:
Originally Posted by cpg35223 View Post
Oh, wait. You must be thinking of Milton Friedman.
That retard who said that greed is good? I don't think so.
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Old 05-26-2012, 11:34 AM
 
Location: World
4,204 posts, read 4,666,052 times
Reputation: 2841
Is there any country in the world who got out of recession by following austerity and tax cut for rich???
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Old 05-26-2012, 01:15 PM
 
Location: Texas
2,847 posts, read 2,493,753 times
Reputation: 1775
Quote:
Originally Posted by Suncc49 View Post
Krugman is a shill for the globalist view that more debt is good. He had to remove his blog comments because his economic policy was getting skewered.

He is a horrible economist.
Correct, he gets a lot more wrong than he gets right.

Google
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Old 05-26-2012, 01:15 PM
 
28,896 posts, read 54,003,889 times
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Quote:
Originally Posted by munna21977 View Post
Is there any country in the world who got out of recession by following austerity and tax cut for rich???
Actually, both Germany and Sweden did exactly what the austerity advocates advised and they haven't felt nearly the effects of the PIIGS. I wish you guys would learn economics. What's more, Milton Friedman consulted heavily with countries such as Sweden and eastern Europe, all of which are thriving. While the countries that continue to pursue the tired Keynesian theories you like are floundering in a rather spectacular manner.
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Old 05-26-2012, 01:22 PM
 
4,534 posts, read 4,911,821 times
Reputation: 6327
GDP=C+I+G+(X-M)

Once you understand this, you'll see things differently. Most people have been taught economics through politics, yet have never actually learned any of the fundamental theories behind even basic economics.
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