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Lol. They're desperate for the printing party to continue if they are pushing Old Yeller.
That's just economic illiteracy.
Republicans attacked Bernanke for loose monetary policy, that actually kept the economy out of the abyss, and confidently predicted soaring interest rates, a falling dollar, and inflation as the result. What actually happened, of course, was low inflation, a steady dollar and low interest rates.
One would think that having their predictions completely refuted by reality would cause them to change their theories. Yet, their faith in the crucial importance of not taxing rich people, not spending to help the less fortunate, and not printing money under any circumstances, remained unchanged.
Janet Yeller would keep monetary policy loose until close to full employment was achieved.
If i misinterpreted your comment, then how am i backpedaling ? backpedaling would mean i interpreted it correctly and twisted your words, i did no such thing and even you admit that, your comment contradicts itself...or you dont know what backpedaling is.
Your comment makes the assumption that those who opposed Summers were Liberals, You have no proof of that, your only evidence to affirm your claim is from to Progressive senators
While i disagree with the bold, that has no relevance to the conversation even if your were right, We are talking about the ideology of the people who opposed Summers, you have shown no proof that they are liberals, you have in fact shown that the ones most vocal are Progressives.
show me a poll of the ideology of the people who opposed Summers and i will back off, simple as that,
Okay, enough with the splitting of hairs here.
Both Sen. Warren and Sen. Sanders ARE liberals in the traditional sense. The only reason the term "progressive" came into fashion is because "liberal" was so maligned by the extreme right.
I am a liberal and I have been 100% against the possibility of a Summers nomination from the start as have many others who also consider themselves liberals.
Man, I would love to see a progressive like Warren elected to the Presidency. I am so tired of right-wing Democrats. Years later they say, wow I wish I had not signed that legislation (NAFTA, anti -welfare, DOMA, etc.). I wonder if Obama will regret the loss of the public option, or not fighting for the Employee Free Choice Act? He is such a Republican.
My problem with Summers is he was a complete sell out to the big banks. Not only did he support the disasterous repeal of Glass-Steagall but he was the big person pushing for it from day one after corrupt banking lobbyists gave him his marching orders. He is unfit to hold any office with authority.
Sadly, the Obama administration has been packed with these sorts of people, appointees picked by lobbyists to be their lap dogs, and there is hardly a real liberal among them.
Exactly, which is why the perception that the President is in any way "far left of center" is ridiculous.
Exactly, which is why the perception that the President is in any way "far left of center" is ridiculous.
I supported Kucinich during the primaries and so did true Liberals/Progressives. Obama NEVER claimed to be a Progressive and his choices proved it way too often, but the right wing has gne soooo far to the right that Raygun would be too left for them.
Republicans attacked Bernanke for loose monetary policy, that actually kept the economy out of the abyss, and confidently predicted soaring interest rates, a falling dollar, and inflation as the result. What actually happened, of course, was low inflation, a steady dollar and low interest rates.
What actually happened is the fed is still engaging in QE and the interest rates are being kept artificially low. Major other nations suggested moving away from the "steady" American dollar and America's credit rating was downgraded for the first time in history. And inflation is being held in check by those low interest rates, high unemployment, and Obama creating a hostile business environment that discourages growth. Recessionary factors have a deflationary effect which holds the inflation in check.
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One would think that having their predictions completely refuted by reality would cause them to change their theories.
And one would think the same of liberals. But they keep on with their nonsense identity politics on the theory that if you tell enough lies then people will believe them.
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Yet, their faith in the crucial importance of not taxing rich people, not spending to help the less fortunate, and not printing money under any circumstances, remained unchanged.
Because it remains objective reality. It remains reality that raising taxes on the rich does not generate more revenue but does cause people to hide money they otherwise would have injected into the economy. And it remains true that spending to help the less fortunate enables them to remain less fortunate instead of having to work to help themselves with the result being multigenerational poverty.
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Janet Yeller would keep monetary policy loose until close to full employment was achieved.
Loose monetary policy will not achieve full employment. The areas of the world which practice ongoing loose monetory policy have high structural unemployment.
I'm impressed that liberals were able to successfully make the case. However, it should be noted that Barack Obama stood steadfast by Summers' nomination, and repeatedly went to bat for him. If anything, liberals should be thanking Summers for withdrawing, and castigating Barack Obama for not standing up for his base.
And it should be noted that Summers is a Clintonite.
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Lawrence Henry "Larry" Summers was a primary architect of the modern U.S. financial system, which collapsed in 2008 leaving some 8 million Americans unemployed and destroying some $13 trillion in wealth, according to the GAO. Summers served multiple roles in the U.S. Treasury in the 1990's under President Clinton and Treasury Secretary Robert Rubin (previously of Goldman-Sachs). In those roles he supported the repeal of Glass-Steagall, which lead to the creation of "too big to fail" banks, and fought the regulation of derivatives which later played a key role in the financial crisis (see more below). Ultimately he became Secretary of the Treasury under Clinton 1999-2001. ...He would later become the Director of President Obama's National Economic Council, an economic policy agency within the executive branch of the U.S. government from 2008-2010, and play a key role in bailing out the U.S. banking system.
Wow. I guess discussion with you is nearly impossible. Everything a liberal or leftist does is about enforcing morality on others.
Look, just posting this stuff proves only that you choose dishonesty, rather than fact.
If it is non sense,then refute it, it isnt that hard.
Your link only proves my point, not yours. You seem to not know what the word radical means. You also seem to not realize that the constitution said black people were only 3/5th a person, which is what Barack was saying in your link. And no where in your link did he give out any far left proposals, he said we need change in wealth distribution system which is something BOTH SIDES preach.
Again, where are these examples of liberals enforcing their morality on you ? if we do it in everything then it shouldnt be hard for you to find one example.
you once again failed to put forth anything to back up your claim, do you care to try again ?
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