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So really, many economists were probably correct in saying that the stimulus is not large enough to do the job until the consumer revives - the problem is that it can't get much larger because we couldn't afford to put on much more.
I don't disagree with you - just recognize that even when they stop meddling after the next election, it's not going to be the silver bullet that is going to make things quickly get better and bring back the consumer.
No, many economists, republicans, conservatives were saying the stimulus WOULD NOT work due to the fact that it really wasn't a stimulus in the traditional sense...and guess what? We were right.
No, many economists, republicans, conservatives were saying the stimulus WOULD NOT work due to the fact that it really wasn't a stimulus in the traditional sense...and guess what? We were right.
And many economists were saying the stimulus WOULD work. That's why virtually EVERY MAJOR country on earth launched a similar stimulus package of some kind (China, India, Australia, you name it)....and guess what? They were right.
The fact is, economists fall on BOTH sides of the aisle since there are two main schools of thought.
There ios no reason for it to change from the ups and down . The fundalmwentals are the same and things like the stimulus have not worked.When real jobs which only private enterprsie can creat things will change as people have confidence with real jobs with a future. But with Obama so anti-business he just keeps them causious and does do anyhting to stimululate private enterprise. Just keeps threatening them with higher taxes.more confused regualtion changes etc.I would dount we are not going to see much growth in jobs until Obama is elcted out of office now.
And many economists were saying the stimulus WOULD work. That's why virtually EVERY MAJOR country on earth launched a similar stimulus package of some kind (China, India, Australia, you name it)....and guess what? They were right.
The fact is, economists fall on BOTH sides of the aisle since there are two main schools of thought.
Ken
But the G20 has decided not to continue "stimulus" and are going with "austerity". So instead of spend they are going with "cut" because the debts just keep growing and growing.
Just the US and UK were left in the "spending" group. Even Japan is going austerity now.
But the G20 has decided not to continue "stimulus" and are going with "austerity". So instead of spend they are going with "cut" because the debts just keep growing and growing.
Just the US and UK were left in the "spending" group. Even Japan is going austerity now.
That's because the world economy is transitioning from "crises mode" into "recovering mode". That will begin happening here in the US soon as well as the stimulus is winding down. Each country moves at it's own pace, but they ALL took more or less the same approach. Only the timing and the details are different. The general course taken by everyone was essentially the same.
Well Ken, I wouldn't say that any of the PIIGS are recovering. They have to slash spending because of mounting debt. Germany just can't bail out all those countries. I think they are just taking the opposite approach to reduce their debt.
Here's the problem, people - we're in a Catch 22 situation where we're screwed if we don't deficit spend and we're screwed if we do.
Thats not true at all. The government could simply allow people to keep more of their own money and offer an incentive to spend it, and it would boost the economy without creating deficits..
Well Ken, I wouldn't say that any of the PIIGS are recovering. They have to slash spending because of mounting debt. Germany just can't bail out all those countries. I think they are just taking the opposite approach to reduce their debt.
Well that's true of the PIIGS, but the world in general is in recovery mode - some faster and more securely than others of course. The US is actually in a stronger recovery than most of the developed world - or even oft-cited up-and-coming Brazil. China & India are of course recovering very strongly.
Surprised Reich ( labor sect under Clinton ) agreed that the May drop was indeed bad news.
I always considered him to be a hardcore liberal, but evidently he is not a denier like LordBalfour.
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