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The Library => The SGA => Topic started by: Tarheel on July 01, 2010, 03:53:00 PM
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This Keynesian spending spree by FedGov to get the economy going again is not working and no one is buying The ONE's explanation any longer...this week even the socialist G8 laughed at the notion of spending our way out of debt.
Well...as The ONE now spins it...it could be worse...
http://www.realclearpolitics.com/video/2010/06/30/obama_on_unemployment_at_96_at_least_its_not_12_or_13_or_15_percent.html (http://www.realclearpolitics.com/video/2010/06/30/obama_on_unemployment_at_96_at_least_its_not_12_or_13_or_15_percent.html)
And I see that the DJIA is tanking again today. Thanks Barry.
(the video is about 1:26 long...Barry's excuse is about :54 into it)
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This Keynesian spending spree by FedGov to get the economy going again is not working and no one is buying The ONE's explanation any longer...this week even the socialist G8 laughed at the notion of spending our way out of debt.
Well...as The ONE now spins it...it could be worse...
http://www.realclearpolitics.com/video/2010/06/30/obama_on_unemployment_at_96_at_least_its_not_12_or_13_or_15_percent.html (http://www.realclearpolitics.com/video/2010/06/30/obama_on_unemployment_at_96_at_least_its_not_12_or_13_or_15_percent.html)
And I see that the DJIA is tanking again today. Thanks Barry.
(the video is about 1:26 long...Barry's excuse is about :54 into it)
The "it could have been 12 or 13 or 15%" or "it could have been the great depression" lines are getting old. Its conjecture and hypothetical at BEST. This crap works on the weak and feeble minded who actually believe it and don't know a damned thing about economics.
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The "it could have been 12 or 13 or 15%" or "it could have been the great depression" lines are getting old. Its conjecture and hypothetical at BEST. This crap works on the weak and feeble minded who actually believe it and don't know a damned thing about economics.
You'll probably notice that The Kenyan's Orcs and the MSM Trolls are using the reference "The Great Recession". There must have been a memo from Rahm 'Never let a good crisis go to waste' Emanuel.
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Any policy that DC could come up with in an attempt to solve our economic woes is laughable. The problem is the Federal Reserve and the banking system. Repeal of the Glass Steagall Act created this monster. In a system such as ours there has to be enforced containment of capitalism, otherwise it will just runamuck (ie see BP)
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Any policy that DC could come up with in an attempt to solve our economic woes is laughable. The problem is the Federal Reserve and the banking system. Repeal of the Glass Steagall Act created this monster. In a system such as ours there has to be enforced containment of capitalism, otherwise it will just runamuck (ie see BP)
You are actually right. The Fed is a private bank no matter how much they try to tout it as Gov't Owned. It is also controlled by people who have forced our country and its people down a habit of credit. Credit holds the entire global economy up and that almost always ends in disaster. Credit is also what caused the collapse of 1929. A big part of the stocks being held were bought on margin. When the panic was "caused", it created a virtual vacuum when everyone began selling off things that were already on margin and had declined in value.