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Old 02-21-2013, 05:36 PM
 
79,907 posts, read 44,191,640 times
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Quote:
Originally Posted by hnsq View Post
The tech crash in 1999 gave us the recession that we needed. The problem is the Fed accelerated growth too aggressively to try and bring the economy back online, when they should have stagnated growth from 2000 - 2005. Unfortunately politics got in the way of economics at the Fed. Any president who pushes for such action guarantees to only serve one term. See Carter and Voulker as an example, Carter gave Voulker the autonomy to fix the economy, but it cost him his second term.
If the tech bubble had never been created then there is no need for a correction.
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Old 02-21-2013, 05:38 PM
 
9,855 posts, read 15,204,453 times
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Quote:
Originally Posted by pknopp View Post
If the tech bubble had never been created then there is no need for a correction.
Oh, I agree completely. I was just giving what could have (in the short term) helped to avoid 2008. In a perfect world the Friedman/Voulker way of thinking would have run the Fed since it started to right the ship in the late 70's.
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Old 02-21-2013, 05:43 PM
 
79,907 posts, read 44,191,640 times
Reputation: 17209
Quote:
Originally Posted by hnsq View Post
Oh, I agree completely. I was just giving what could have (in the short term) helped to avoid 2008. In a perfect world the Friedman/Voulker way of thinking would have run the Fed since it started to right the ship in the late 70's.
Yes, if we hadn't been trying to create bubble after bubble chasing non existent dollars 2008 would have never happened. We have not learned that lesson.
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Old 02-21-2013, 05:52 PM
 
9,855 posts, read 15,204,453 times
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Quote:
Originally Posted by pknopp View Post
Yes, if we hadn't been trying to create bubble after bubble chasing non existent dollars 2008 would have never happened. We have not learned that lesson.
We need to divorce economics and monetary policy from politics, but as long as politics continues to drive economic decisions, nothing will change.
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Old 02-21-2013, 06:21 PM
 
3,040 posts, read 2,578,539 times
Reputation: 665
Quote:
Originally Posted by jmqueen View Post
I don't correct spelling and grammar as rule ... But hoo boy this is just too much.

God, THERE ARE stupid people on this forum.
Thank you for correcting me.
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Old 02-21-2013, 06:24 PM
 
3,040 posts, read 2,578,539 times
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Quote:
Originally Posted by kidkaos2 View Post
If you take money from one person and give it to another person of course the recipient becomes wealthier. That does not mean that society as a whole has become wealthier. It shouldn't be that difficult to understand.

When government "invests" money into the economy, it first removes that money from the same economy. There are no jobs, no wealth, no prosperity created - merely shifted from the private to the public sector. Increasing public sector spending doesn't happen by magic. It happens by reducing the resources available to the private sector. Do you understand what opportunity costs are?

And when Democrats, for example, want to cut the military they do not want the base in their district to be the one that closes. Cuts may have to be made for the health of the nation, but it's only natural that representatives try to minimize the impact of those cuts on their own constituents. That doesn't mean they are against cuts.

Instead of claiming all the Republicans are hypocrites and liars, you should gain a better understanding of the situation.
They will never understand this.
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Old 02-21-2013, 06:27 PM
 
3,040 posts, read 2,578,539 times
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Quote:
Originally Posted by hnsq View Post
Hopefully this does happen. You nearly always have to artificially create recessionary conditions to stabilize economies. We NEED to force such a recession, take the hit for a few years and move towards a healthy long term economic system.

Quote:
Originally Posted by pknopp View Post
It's too bad we didn't do this in late 2008. We could be well on our way today.
Agreed.

Nothing will change unless we cut our spending though.
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Old 02-22-2013, 07:46 AM
 
10,545 posts, read 13,584,176 times
Reputation: 2823
Quote:
Originally Posted by EddieB.Good View Post
Okay... here's your chance to show that you're not one of the lemmings I like to pick on.

If we cut gov't spending right now, what would be the most immediate impact of that?
It would depend on where you made the cuts and the amount of the cuts. I don't advocate an immediate large cut, but we have to make cuts. Any cuts are going to cause some pain unfortunately. That's the problem of letting things get out of hand. However, not making cuts because there will be some pain now just creates more later. If Congress would pass a budget they could plan the cuts that make the most sense, but sequestration cuts across the board which is a bad way to do it.
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Old 02-22-2013, 07:58 AM
 
14,292 posts, read 9,676,201 times
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Quote:
Originally Posted by EddieB.Good View Post
This sequester drama should be the nail in the coffin for a core Republican talking point: gov't doesn't create jobs.

Almost every Republican in Congress is begging, pleading, negotiating, doing everything in their power to try to be exempted from the sequester cuts for both defense spending AND social programs. Why? B/c it will cost their district jobs, money, wealth, prosperity... pretty much EVERYTHING that Republicans said gov't CAN'T create.

It seems Republicans new party motto should be "Spending Cuts? NIMBY." Looks like all the bluster from Republicans for the last 30 years is being exposed as just that, b/c at the end of the day, they're just as Keynesian as Democrats...
You could try being a little more specific, it's tough to comment when you are so vague.

There are some legitimate functions to government, and in some cases government can take over a small part of the economy and create a monopoly. The military and national security apparatus is one area I think most of us would agree the federal government controls. It's not as if we have civilians with tanks and jet fighters.

So if Obama decides to cause as much damage and pain as possible, yes, he could cut funding in ways that cause the most damage to people, communities, and local economies.
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Old 02-22-2013, 08:13 AM
 
15,047 posts, read 8,870,511 times
Reputation: 9510
Quote:
Originally Posted by Jean71 View Post
God their is stupid people on this forum....smh
This is called proving your own point. And judging from this post, I would have to say I agree.
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