fucktard barney frank

ib1yysguy said:
It's commonly acknowledged by economists that the problem with the stimulus was that it wasn't big enough of an expenditure. Who do you think is responsible for railing against the stimulus because it was too big? Who called it "spendulus"?

Please see my economics lesson for retards thread for a very terse summary of the economics behind stimulus spending.

http://www.justplainpolitics.com/basic-economics-retards-deficits-t19661.html
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that thread was a fail....
 
ib1yysguy said:
HA! The god of "common sense" does not take precedence over ESTABLISHED ECONOMIC THEORY.

I've got the entire economic community behind me, save some very far right wingers who rail against deficit spending but aren't taken seriously. Right and left both agree that deficit spending is necessary. EVERYONE who thinks it's bad economics can be found in one very narrow band of the economic spectrum. That tells you something about the validity of their opinions.
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meadowmuffins....i showed you in the past where such high deficit spending was very bad for the economy...it is not established as each economic situation is different...

you're talking about a theory of government spending that does not necessarily include deficit spending....you said giving money back to the taxpayers to spend was BAD....yet obama, according to onceler, is giving back, the largest tax cuts in history....
 
ib1yysguy said:
Oh my.

"Paul Krugman, the professor of economics at Princeton University and a Nobel Prize winner, spoke Tuesday to CNBC, where he discussed his views on the stimulus package.

The $787 billion stimulus is not nearly enough to fill the "well over $2 trillion hole" in the economy, Krugman said. "A fair bit of the bill is not really stimulus," he adding, noting that just about $650 billion would actually spur consumer spending and other types of stimulus."

http://www.huffingtonpost.com/2009/02/17/paul-krugman-stimulus-too_n_167721.html

YouTube - Paul Krugman: Fixing the Financial Crisis

That was easy. PWNED.
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LOL Krugman again? Tell the truth you suck that liberal's dick, don't you?
 
It brings me great joy to watch you try to attack the credibility of a nobel prize winning economist, as though your "common sense" carries more weight.
 
ib1yysguy said:
Trade deficit is part of the equation that makes up the GDP. It's not as significant as the government spending factor, which makes it less useful to manipulate when trying to recover a shortfall in private sector investment and consumption.
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People with actual jobs buy stuff. That's where consumption comes from. People. You ignorant fuck. You're so brainwashed you can't even think.
 
AssHatZombie said:
People with actual jobs buy stuff. That's where consumption comes from. People. You ignorant fuck. You're so brainwashed you can't even think.
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And jobs are created by businesses who sell goods or services to people employed by other businesses. Yeah, that's really brilliant there. Thanks. I had it wrong the whole time.
 
PostmodernProphet said:
lol, apparently you are easily satisfied.....now, back to the mistakes made in Japan that Obama is intent upon repeating.....why do you mistakenly believe there is no similarity?.....
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I deal with this in the other thread. There's no similarity AT ALL between the Japanese recession and our own. The comparison is a very, very sorry attempt to draw attention away from the major pwnage you just suffered.

And it's laughable to see you call anything regarding economics "mistaken" after watching your disappointing performance in this thread.
 
ib1yysguy said:
And jobs are created by businesses who sell goods or services to people employed by other businesses. Yeah, that's really brilliant there. Thanks. I had it wrong the whole time.
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So when the jobs leave there is no money for consumers to spend. Do you get it? the problem is allowing all the jobs to leave the country.
 
ib1yysguy said:
I There's no similarity AT ALL between the Japanese recession and our own.
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oh....wait.....Krugman thinks there is.....

And deflationary traps can go on for a long time. Japan experienced a “lost decade” of deflation and stagnation in the 1990s — and the only thing that let Japan escape from its trap was a global boom that boosted the nation’s exports. Who will rescue America from a similar trap now that the whole world is slumping at the same time?
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his only error is thinking that doing what Japan did will solve the problem, when it didn't work in Japan....

http://www.nytimes.com/2009/02/06/opinion/06krugman.html
 
As analysts and media hailed the tentative emergence of green shoots last week, Nobel Prize-winning economist Paul Krugman caused international shock with a prediction that the world economy would stagnate just as badly, and for just as long, as Japan's did in the 1990s
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http://www.guardian.co.uk/business/2009/jun/14/economics-globalrecession

PK: The thing about Japan, as with all of these cases, is how much people claim to know what happened, without having any evidence. What we do know is that recessions normally end everywhere because the monetary authority cuts interest rates a lot, and that gets things moving. And what we know in Japan was that eventually they cut their interest rates to zero and that wasn't enough. And, so far, although we made the cuts faster than they did and cut them all the way to zero, it isn't enough. We've hit that lower bound the same as they did. Now, everything after that is more or less speculation.

For example, were the problems with the Japanese banks the core problem? There are some stories about credit rationing, but they are not overwhelming. Certainly, when we look at the Japanese recovery, there was not a great surge of business investment. There was primarily a surge of exports. But was fixing the banks central to export growth?

In their case, the problems had a lot to do with demography. That made them a natural capital exporter, from older savers, and also made it harder for them to have enough demand. They also had one hell of a bubble in the 1980s and the wreckage left behind by that bubble - in their case a highly leveraged corporate sector - was and is a drag on the economy.

The size of the shock to our systems is going to be much bigger than what happened to Japan in the 1990s. They never had a freefall in their economy - a period when GDP declined by 3%, 4%. It is by no means clear that the underlying differences in the structure of the situation are significant. What we do know is that the zero bound is real. We know that there are situations in which ordinary monetary policy loses all traction. And we know that we're in one now.
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Speaking in Stockholm where he will collect his 10 million Swedish crowns ($1.3 million) prize, U.S. economist Krugman again called on policy makers to spend liberally to cushion a withering global downturn.

"A scenario I fear is that we'll see, for the whole world, an equivalent of Japan's lost decade, the 1990s -- that we'll see a world of zero interest rates, deflation, no sign of recovery, and it will just go on for a very extended period," he told a news conference.
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it's a shame you don't find Krugman credible....
 
WinterBorn said:
The stimulus money actually slowed many projects.

Many projects that were to be started in 2009 or 2010 were put on hold in order to apply for stimulus money to pay for them. If they get the stimulus then the money set aside for the project will be spent elsewhere. If they don't get the stimulus they will use the original funds.

Eventually it will break loose and could appear even larger (as far as infrastructure projects).
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Watch the Chemicals and basic materials (steel, aluminum, glass, plastics, aggregates, etc) industries rise. Those will be a solid economic indicator of how the economic stimulus is fairing. If they start to solidly climb it will indicate the stimulus is working. If they decline then the reverse would be true. Certainly some lag time is to be expected on the stimulus's impact.
 
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