Top economists give Obama, Geithner F+

transformer_99

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This line of reasoning is just plain stupid and only the hardcore ditto heads are repeating this nonsense that Obama should have some how righted this upside down ship of a country in 50 days. I include, in that group, the conservative economists who peddle their tired wares in the Wall Street Journal.

My post was facetious as well. Anyone expects Obama to fix an economy needing $ 1.75 trillion in bailouts and economic stimulus in 50 days is, well, is Rush Limbaugh stoned out of his mind on painkillers ?
 

B_starinvestor

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My post was facetious as well. Anyone expects Obama to fix an economy needing $ 1.75 trillion in bailouts and economic stimulus in 50 days is, well, is Rush Limbaugh stoned out of his mind on painkillers ?

Nobody expected that.

Its just that he's fucked it up even worse. Everyone that took a high school econ course saw that coming.

Remind me again of any business experience Obama has had in his 47 years other than selling books about himself.
 

Wyldgusechaz

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In fairness it is far too early to judge if these efforts will fail or succeed. I don't like the expansion of the state as much as has been done because it curtails freedom. I cannot find any evidence where government spending ended a recession but maybe this time it will.

We just don't know, its far too soon.
 

D_Tully Tunnelrat

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Its just that he's fucked it up even worse. Everyone that took a high school econ course saw that coming.

Not if you believe what Nouriel Roubini (Phd Economist at NYU) says, and he is one of the VERY few who saw this ALL this de-leveraging coming, so he is due more credit than most other economists.

NO ONE likes the radical increases in national debt, which the stimulus is adding to, but if you look at the Depression, the recovery which began in '33 collapsed in '37 when FDR and Congress tried to balance the budget. Similarly, Hoover's tight money accelerated the Panic of '29, and turned it into an all out crash.

There can be no doubt the stimulus will make a big difference, the question is will it be self-sustaining?

We should all root for Obama's plan to work, cause like it or not, our future depends on it.
 

B_starinvestor

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Not if you believe what Nouriel Roubini (Phd Economist at NYU) says, and he is one of the VERY few who saw this ALL this de-leveraging coming, so he is due more credit than most other economists.

NO ONE likes the radical increases in national debt, which the stimulus is adding to, but if you look at the Depression, the recovery which began in '33 collapsed in '37 when FDR and Congress tried to balance the budget. Similarly, Hoover's tight money accelerated the Panic of '29, and turned it into an all out crash.

There can be no doubt the stimulus will make a big difference, the question is will it be self-sustaining?

We should all root for Obama's plan to work, cause like it or not, our future depends on it.

Hey, duc...I may have had one two many Woodfords, but I'm not following your logic...are you suggesting that the stimulus package resembles gov't action taken in '33?
 

midlifebear

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Our lovely shining "Star":

Give it a rest. You are not as intelligent as you profess to be. You're simply upset that your portfolio looks terrible and have no one else to blame except your own inability to "forecast" the markets.

Now, if you were able to forecast barley or corn as you walked a harrowed field, I might consider giving anything you post some credence. But I'm certain you even lack that ability.

Sometimes the little octagon filled with air in the Magic 8 Balls begins to fill with liquid over time. It's quite possible yours is at that stage and unable to offer a variety of more than two or four answers: maybe, no, doubtful, and don't count on it. Go to the toy store and buy a new one and compare the answers to your same questions. I'm certain they won't match.
 

B_starinvestor

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Our lovely shining "Star":

Give it a rest. You are not as intelligent as you profess to be. You're simply upset that your portfolio looks terrible and have no one else to blame except your own inability to "forecast" the markets.

I can't argue with this

Now, if you were able to forecast barley or corn as you walked a harrowed field, I might consider giving anything you post some credence. But I'm certain you even lack that ability.

Um, if I gave you the winning Lotto numbers you wouldn't give me credence.

Sometimes the little octagon filled with air in the Magic 8 Balls begins to fill with liquid over time. It's quite possible yours is at that stage and unable to offer a variety of more than two or four answers: maybe, no, doubtful, and don't count on it. Go to the toy store and buy a new one and compare the answers to your same questions. I'm certain they won't match.

over my head
 
D

deleted15807

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We should all root for Obama's plan to work, cause like it or not, our future depends on it.

Nope. The sad pathetic neo's would rather go down with the ship than admit they were wrong. You've heard Rush hoping Obama fails. And these people acuse 'liberals' of hating America. The Republican Party deserves the desert it will now walk for 40 years. I can't wait for 2010 when they lose even more seats. After the election in 2008 Virginia Republican Congressman Tom Davis said ...... that the GOP will have to “retool” after the election because it has become “a white, rural, regional party". And now we know the retooling with Steele and Jindal is a complete flop.
 

D_Tully Tunnelrat

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Hey, duc...I may have had one two many Woodfords, but I'm not following your logic...are you suggesting that the stimulus package resembles gov't action taken in '33?

Star grab another Woodford, cheers! Seriously tho' this stimulus is not the same as the one in '33, given the problems and programs are entirely different, but the logic in Keynesian terms is the same: replace private capital with public. IF every public dollar is multiplied x3 (an arbitrary figure) in the private sector, then $800M in Gov. stimulus begets $2.4T of economic activity thereby offsetting the collapse of the private sector. At least that's the theory. I hope to hell it works.
 

D_Tully Tunnelrat

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Nope. The sad pathetic neo's would rather go down with the ship than admit they were wrong. You've heard Rush hoping Obama fails

Yeah it's a shame. I can't stand that guy.

I could not stand Bush either, but I wanted him to succeed because his failures only made our collective "jobs" harder when it came time to undo his mess.

If we cannot all unite now, when we have an economic Pearl Harbor, when?

One thing I always used to be proud of as an American was the way our people, when they pulled together, could accomplish almost anything.

We need to become us. It's not a Kum Bay Yah moment, it's survival.
 

Wyldgusechaz

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Star grab another Woodford, cheers! Seriously tho' this stimulus is not the same as the one in '33, given the problems and programs are entirely different, but the logic in Keynesian terms is the same: replace private capital with public. IF every public dollar is multiplied x3 (an arbitrary figure) in the private sector, then $800M in Gov. stimulus begets $2.4T of economic activity thereby offsetting the collapse of the private sector. At least that's the theory. I hope to hell it works.

there is o record of this ever occuring. Italy by rights should be an economic locomotive as it spends more than 100% of its GDP.
 

HazelGod

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I don't like the expansion of the state as much as has been done because it curtails freedom. I cannot find any evidence where government spending ended a recession but maybe this time it will.

You have got to be fucking kidding. Those are two of the biggest WTF statements I've seen in recent memory. :rolleyes:

I can only assume your first remark was referring to the previous administration...any other reading makes utterly zero sense.
 

D_Tully Tunnelrat

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there is o record of this ever occuring. Italy by rights should be an economic locomotive as it spends more than 100% of its GDP.

Actually there are several incidents of this occurring, and working on a grand scale. The biggest examples are the stimulus in '33, and WWII. During WWII, US Gov. spending was 145% of GDP. This is what pulled out finally the US out of the depression.

The reason why Italy, Greece, Spain, etc. don't have strong economic records is because they deficit spend all the time. The reason is called stimulus is because is supposed to be short term. If invested in new businesses, and infrastructure, it can make a huge, self-sustaining difference.

One of the little known facts of WWII is that because of the cheap electricity created by WPA projects like the TVA, and Columbia River Dam, both FDR stimulus measures, the US was able to run plane and munition factories 24X7. Whereas the Germans and Japanese could not.
 

B_24065

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Top economists ? That's a laugher, take a good look at the economy, anyone can Monday morning quarterback/coach the game after a blowout loss. Any of these guys ever see that inflation (greed) was the real cause and nobody can do anything about that but the people that perpetuate it themselves ? quote]

Uh, you should know what words like "inflation" mean before you write a pot like this and show that you are a complete dumbass.
 

B_starinvestor

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This Op is one sad little puppy, NEXT!

Yes, I am sad that our President and Treasury Secretary are performing at a level of F+ at reviving the economy.

Do you know what the economy is, Monster? Its a great big system of trade, production, consumption, employment, distribution, etc., which provides people with jobs and our government with tax receipts so that they can provide us with roads, highways, bridges and so they can protect us from bad guys.
 
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B_VinylBoy

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F+ meant you were just one or two less naps away from a D-

But it's still a failure. Some people can still pass with a "D" grade.
Perhaps they were trying to be nice with adding a "plus" next to a failing mark? Saying that he was just this close of being mediocre?

In an attempt to insult the president & Geithner, they insult themselves with an imaginary school grade. They could have just said "failing". But instead, tried to get cute and catty. IMO, that in itself deserves an "F".
 

Wyldgusechaz

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Actually there are several incidents of this occurring, and working on a grand scale. The biggest examples are the stimulus in '33, and WWII. During WWII, US Gov. spending was 145% of GDP. This is what pulled out finally the US out of the depression.

The reason why Italy, Greece, Spain, etc. don't have strong economic records is because they deficit spend all the time. The reason is called stimulus is because is supposed to be short term. If invested in new businesses, and infrastructure, it can make a huge, self-sustaining difference.

One of the little known facts of WWII is that because of the cheap electricity created by WPA projects like the TVA, and Columbia River Dam, both FDR stimulus measures, the US was able to run plane and munition factories 24X7. Whereas the Germans and Japanese could not.

I am almost positive several economists have refuted FDRs stimulus spending as a boon and now see it as prolonging the depression. FDR himself said it failed.