Rant - What's the point of a short term economic fix...

[Sasquatch]

To be fair, there were only 2 million or so homes lost last year, a million the year before.  And only 6 million people have lost their jobs and other several million more have part time with no benefits but need full time.  Only 10% in Tennessee are unemployed, the most in decades, but hey, 90% have a job.  And only a few trillion has been lost on homes and retirement plans.

So it's not so bad, and it's almost over!  Thank goodness for that.  It will be better soon, what with...... something.... to drive our economy forward wages and jobs will be plentiful again in no time!  

So, yeah, all this whining and moaning is for frickin pansies. 

American workers...hated by the cult............

And yet it is the democrats and the supreme cult leader, Obama, who want to raise taxes on the American worker/people in this economic climate. Interesting.

[Just Win]

if, in the process, you have absolutely guaranteed the bankruptcy of your country? It's completely irrational.

Borrowing and printing money will not make an economy more productive. It will not make an economy more efficient. It will not increase our harvest of natural resources. It's f*cking insane.

This entire episode was initiated by the government perverting incentive structures through increases in the the money supply, real estate focused tax breaks,  and programs like the Community Reinvestment Act, Fannie Mae, and Freddie Mac. The government's response to their obvious f*ck-up is to pervert the incentive structures on a grander scale. To expand their perversion to previously untouched industries. They respond by expanding the number of occasions where they will choose winners and losers through political means (with coercively obtained resources), rather than through the market means (with cooperatively obtained resources).

Bureaucrats who seek primarily to repay political favors and run for reelection will increasingly control our economy, our destiny, and our lives.

What could possibly go wrong?

We can't forget the private actors. Individuals borrowed too much money on fake housing equity and blew it on consumption. Many of them are at their limit and they cannot manage the debt burden. The government solution is to do everything in their power to get people to resume the spending orgy. The government solution is to not only discourage savings by lowering interest rates, but to actually make public statements which discourage the very notion of saving.

Just think about that for one minute.

If your economic theory tells you that when times are bad you need borrow money and forsake savings, it's f*cking wrong. It's g*dd*mn common sense. It's like following a diet that prescribes eating 4 whole pizzas if you gain a pound.

What is good for the individual is good for the economy. And saving money is good for both. Will it make things tougher in the short term? Of course it will. But any long term prosperity has to be based upon a foundation of savings and investment. Investment builds capital, which is kind of f*cking important in a system based entirely upon the accumulation of it.

/Rant

i nominate this for post of the year , perhaps the decade. i have got one of those feelings, no not the kind chris mathhews gets up his leg when he spots the president, that this thread is going to have a long life. aud is right on that nothing else much matters if you sell your econimic birthriht to China.

[TheAngryVoice]

Simple solution folks.....decriminalize counterfitting. Everyone can print all the money they want and all taxes get paid. Everyone pays off their house or buys a new one. Everyone buys a few new cars, Ford,GM and Dodge are back in black.
Need money?---> Print money.


Works for Obama, right?

[NCVol]

Works for the bankers is much more accurate.

The Federal Reserve bank has printed TRILLIONS without a vote, without an audit, without an accounting of where the money went.  What we DO know is it went to the oligarchs and the money changers. 

What Obama did is amateur hour compared to Bernanke and his minions.

[Just Win]

bump


Treasury Secretary Timmy Geithner, voted by People magazine as one of the
most beautiful people in the world, looks on as President Obama enchants an
adoring and obedient press corps.

[Just Win]

if, in the process, you have absolutely guaranteed the bankruptcy of your country? It's completely irrational.

Borrowing and printing money will not make an economy more productive. It will not make an economy more efficient. It will not increase our harvest of natural resources. It's f*cking insane.

This entire episode was initiated by the government perverting incentive structures through increases in the the money supply, real estate focused tax breaks,  and programs like the Community Reinvestment Act, Fannie Mae, and Freddie Mac. The government's response to their obvious f*ck-up is to pervert the incentive structures on a grander scale. To expand their perversion to previously untouched industries. They respond by expanding the number of occasions where they will choose winners and losers through political means (with coercively obtained resources), rather than through the market means (with cooperatively obtained resources).

Bureaucrats who seek primarily to repay political favors and run for reelection will increasingly control our economy, our destiny, and our lives.

What could possibly go wrong?

We can't forget the private actors. Individuals borrowed too much money on fake housing equity and blew it on consumption. Many of them are at their limit and they cannot manage the debt burden. The government solution is to do everything in their power to get people to resume the spending orgy. The government solution is to not only discourage savings by lowering interest rates, but to actually make public statements which discourage the very notion of saving.

Just think about that for one minute.

If your economic theory tells you that when times are bad you need borrow money and forsake savings, it's f*cking wrong. It's g*dd*mn common sense. It's like following a diet that prescribes eating 4 whole pizzas if you gain a pound.

What is good for the individual is good for the economy. And saving money is good for both. Will it make things tougher in the short term? Of course it will. But any long term prosperity has to be based upon a foundation of savings and investment. Investment builds capital, which is kind of f*cking important in a system based entirely upon the accumulation of it.

/Rant

AUD,

When we go into battle, we always have what military experts refer to as “an exit strategy.” That is a method and means of completing a military action we have undertaken and not dragging out a mission needlessly. When President Obama, Speaker Pelosi, and Senate Majority leader Reid set out to borrow this unprecedented amount of money from gold-hording China, more than has ever been attempted in the history of the world, what was the exit strategy? In other words, what was the realistic and practical way of paying this China-debt back? Did this plan extend to three generations into the future?