Welcome to yet another CIRCLE JERK from the Salina Vagrant Whisperer!
Ooooohh! We're all going down the toilet! We're all going down the toilet!
Whiny, is that why you spend so much time on the mensroom floor in the Salina bus station, to be near the toilet when American gets flushed?
Fucking tedious prattle, day in and day out.
And a liar. PROVE ME OTHERWISE! (lmao!)
- Yssup Rider
- 04-02-2013, 04:16 PM
- Guest032516
- 04-02-2013, 07:23 PM
- CuteOldGuy
- 04-02-2013, 10:43 PM
I think David Stockman is dead-on right in his assessment. Go ahead and disagree. I hope you're right. But you're not.
- WTF
- 04-03-2013, 12:06 AM
- bojulay
- 04-03-2013, 12:23 AM
Bottom line the fed is creating a false economy.
Just like the myth that a war is good for the economy.
Only for the short term. What really happens is the
Government just goes deeper in debt during a war,
that's where the boost comes from, an increase in
Government spending.
Who always gets left holding the bag? The taxpayers.
Same with all the stimulus and fed involvement we have
right now. Remove it and nothing will stand on it's own.
Well then, that's the best incentive to keep doing it right?
That must be exactly what the fed is thinking.
Problem is how can they keep it up, but how can they take it away?
Just like the myth that a war is good for the economy.
Only for the short term. What really happens is the
Government just goes deeper in debt during a war,
that's where the boost comes from, an increase in
Government spending.
Who always gets left holding the bag? The taxpayers.
Same with all the stimulus and fed involvement we have
right now. Remove it and nothing will stand on it's own.
Well then, that's the best incentive to keep doing it right?
That must be exactly what the fed is thinking.
Problem is how can they keep it up, but how can they take it away?
- Yssup Rider
- 04-03-2013, 12:49 AM
Was that a poem, bouljay?
- Texas Contrarian
- 04-04-2013, 02:56 PM
Predictably, a couple of the left's leading apologists for an agenda involving virtually endless quantities of government spending accommodated by massive money-printing launched into full-throated attack mode in response to David Stockman's opinion piece. Chief among them is far-left economist and pundit Paul Krugman, who recently offered this little jewel of a thought:
1-minute 37-second YouTube Video
(Yeah, that'll fix everything!)
Note the reaction from Harvard economist Ken Rogoff. He can't quite believe what he just heard!
Stockman is spot on. None of the myriad structural problems our economy faces are being meaningfully addressed. Everything is being papered over and covered up.
But if you think Stockman is some sort of blind partisan or apologist for the Republican Party agenda, think again:
http://www.eccie.net/showthread.php?t=576357&highlight=
http://www.nytimes.com/2012/08/14/op...=1&ref=opinion
Markets need real price signals in order to function in a healthy fashion. Policymakers should have learned something from our experiences with price controls in the 1930s and 1970s. Although you may succeed in making things look a little better in the short run with massive fiscal and monetary interventions, you do so only at great long-term cost.
Robert Scheer, who is far to the left on the political spectrum and writes for The Nation, has a slightly different take from Krugman:
http://www.thenation.com/article/173...recked-economy#
One of Scheer's key points is that the policy agenda has exacerbated income and wealth inequality in the U.S. He bemoans the fact that while Stockman is treated by many as something of a pariah, a few of those most responsible for the failures are still lauded in "polite circles."
Going a bit further, this form of financial repression hurts the non-affluent in two additional and distinct ways:
1) Artificially low interest rates (well below the rate of inflation) hurt the finances of millions of savers and non-affluent retirees who traditionally earned better returns on CDs and bonds of various maturities. The result is the transfer of a great deal of wealth to the banking system, largely from people who are not very well off.
2) Over the last few years, rates near zero and continual QE have created a big run-up in oil and agricultural commodity prices, placing further stress on the budgets of the middle class and the working poor.
A sad irony here is that monetary policy interventions deemed necessary to accommodate our current budget deficits, which are themselves largely created by programs promising to assist the non-affluent, do great harm to many households the programs are supposed to benefit.
1-minute 37-second YouTube Video
(Yeah, that'll fix everything!)
Note the reaction from Harvard economist Ken Rogoff. He can't quite believe what he just heard!
Stockman is spot on. None of the myriad structural problems our economy faces are being meaningfully addressed. Everything is being papered over and covered up.
But if you think Stockman is some sort of blind partisan or apologist for the Republican Party agenda, think again:
http://www.eccie.net/showthread.php?t=576357&highlight=
http://www.nytimes.com/2012/08/14/op...=1&ref=opinion
Markets need real price signals in order to function in a healthy fashion. Policymakers should have learned something from our experiences with price controls in the 1930s and 1970s. Although you may succeed in making things look a little better in the short run with massive fiscal and monetary interventions, you do so only at great long-term cost.
Robert Scheer, who is far to the left on the political spectrum and writes for The Nation, has a slightly different take from Krugman:
http://www.thenation.com/article/173...recked-economy#
One of Scheer's key points is that the policy agenda has exacerbated income and wealth inequality in the U.S. He bemoans the fact that while Stockman is treated by many as something of a pariah, a few of those most responsible for the failures are still lauded in "polite circles."
Going a bit further, this form of financial repression hurts the non-affluent in two additional and distinct ways:
1) Artificially low interest rates (well below the rate of inflation) hurt the finances of millions of savers and non-affluent retirees who traditionally earned better returns on CDs and bonds of various maturities. The result is the transfer of a great deal of wealth to the banking system, largely from people who are not very well off.
2) Over the last few years, rates near zero and continual QE have created a big run-up in oil and agricultural commodity prices, placing further stress on the budgets of the middle class and the working poor.
A sad irony here is that monetary policy interventions deemed necessary to accommodate our current budget deficits, which are themselves largely created by programs promising to assist the non-affluent, do great harm to many households the programs are supposed to benefit.