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Old 11-26-2011, 09:42 PM   #1
classicman
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Quote:
Economics always takes revenge on all when money games are used to 'stimulate an economy'. Deja Vue.
Do you feel this way about the stimulus?
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Old 11-27-2011, 07:37 AM   #2
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Clearly that is what he said. I didn't know he understood the issue.
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Old 11-27-2011, 11:12 AM   #3
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Well the CBO agrees that there is less of a "multiplier effect" with the stimulus which is precisely what he was talking about with the lawn thing.
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Old 11-27-2011, 01:36 PM   #4
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Originally Posted by Undertoad View Post
Well the CBO agrees that there is less of a "multiplier effect" with the stimulus which is precisely what he was talking about with the lawn thing.
The lawn thing demonstrates negative growth. Same reason is why welfare to the rich also causes negative growth.

I was quite blunt about this when extremists gleefully advocated harm to the American economy using soundbyte logic and money games. Nobody can say the obvious was undefined and not predicted. We now have predicted job losses traceable to what was posted ten plus years ago in the Cellar.

Posted on 11 April 2001:
Laffer curve - the real laugh
Facts demonstrated by Kennedy's tax cut of 1960 did not change. But spin from extremist hoped everyone will remain naive and dumb. Most Americans ignored economic lessons from history.

Well, we all can now learn because history repeated itself.

Government cannot fix an economy. Only innovation fixes economies. But government can harm economies as extremists in Congress are now gleefully advocating such as welfare for the rich. We all must suffer big time, as predicted, because wacko extremists did more than just hate science, the American soldier, and stifle innovation. Extremists used soundbyte logic to advocate money games. "Reagan proved that deficits don't matter". That reality reposted how many times when extremists were intentionally harming the American economy.

We all must pay for their lies. See the numbers in Wall Street Protests. Under 35 year olds once earned $45K in 1992 (George Sr called those money games "voodoo economics"). And $47K in 1999 (Clinton raised taxes to balance budgets and therefore create a booming economy). By 2009, the same age group was only earning $32K (George Jr proved Mission Accomplished and deficits don't matter as Nixon also did).

Why is that latest post somehow different? I repeatedly cautioned about serious economic harm by money games in 2001. When wackos even advocated putting Social Security into the stock market. Because Limbaugh, et al said it was good. What we have now was predicted, with reasons why, ten years ago.
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Old 11-27-2011, 04:39 PM   #5
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There was an intelligent and thoughtful conservative on NPR the other day. He was saying that the problem with the Republican party was that they went to all this effort to get their base all riled up about the horrible Democrats. That anger worked out well for them because it made them stronger. But it backfired when it came time to negotiate with the Democrats, because even if they wanted to make a deal with the Democrats on the budget, this big machine of anger was steamrolling right behind them and wouldn't allow them to make a deal. Because those Democrats are evil, and you can't negotiate with evil.

So you can't let loose the dogs of war, and then hope to get them back on the leash when it's convenient.
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Old 11-27-2011, 07:06 PM   #6
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And, they may have finally succeeded in ruffling Obama's demeanor !
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Old 11-27-2011, 10:41 PM   #7
classicman
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Originally Posted by Lamplighter View Post
And, they may have finally succeeded in ruffling Obama's derriere !
ftfy
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Old 11-27-2011, 08:43 PM   #8
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Obama has a demonearor?
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Old 11-27-2011, 09:00 PM   #9
Griff
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Don't tell Santorum, he'll hire an exorcist.
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Old 11-29-2011, 12:46 PM   #10
tw
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Don't tell Santorum, he'll hire an exorcist.
Santorum's expertise is in resuscitating dead brains.
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Old 11-29-2011, 12:59 PM   #11
classicman
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The news that Barney Frank (D), Chair of the House Finance Committee,
has decided to not run for re-election is very gratifying to me.

He was a total insider and never admitted his role in the Fannie/Freddie disasters.
He was in charge of oversight and was caught completely flat-footed when it all went down.

He was linked to many a scandal including numerous lending institutions, his "special loans" with countrywide and also his admitted affair with a 17 year old page.

He is simply one of the entrenched professional politicians of which there are far too many in both parties still in Wash. IMO, his leaving is a good start at cleaning house.
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Old 11-29-2011, 01:23 PM   #12
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Classic, if you believe all that were true and overwhelmingly important,
why would you think it would do any good to bring in a new politician ?

I'd suggest a quick read of Frank's congressional history in Wikipedia
to see if instead, and on balance, you might think he is has a better fit
with what we want in from a 30-year veteran politician.
.
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Old 11-29-2011, 02:21 PM   #13
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Quote:
Originally Posted by Lamplighter View Post
Classic, if you believe all that were true and overwhelmingly important,
why would you think it would do any good to bring in a new politician ?

I'd suggest a quick read of Frank's congressional history in Wikipedia
to see if instead, and on balance, you might think he is has a better fit
with what we want in from a 30-year veteran politician.
.
I don't know about Classic, but I don't think it will do much good to bring in a new politician. Our current system all but guarantees that if a Congressman is not corrupt to begin with, he soon will be.

Yeah, Barney Frank did some good things, but Classic is correct in stating that Frank played a role in the Frannie/Freddie fiasco. Read Morgenson's and Rosner's "Reckless Endangerment" - a detailed account of the events and players leading to the great financial crash and subsequent Wall Street bailout.

Barnie Frank was one of Frannie's and Freddie's greatest defenders, claiming that concerns about the the safety and soundness of these two institutions were highly exaggerated. Frank was duly rewarded for his partisanship in this regard.
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Old 11-29-2011, 01:33 PM   #14
classicman
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I already read it, but thanks. That info on wiki is why it isn't really a valid source for unbiased accurate info.
Do a little more digging. I did just to cover my ass in my post.
I'm not interested in getting into an argument here about Barneys checkered past.
I just thought I'd lay out some of the "other side" of him.
There was much much more which he wasn't indicted/convicted/charged as well. I left that stuff out.
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Old 11-29-2011, 08:28 PM   #15
classicman
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"In July 2008, Frank said in an CNBC interview, "I think this is a case where Fannie and Freddie are fundamentally sound, that they are not in danger of going under. They’re not the best investments these days from the long-term standpoint going back. I think they are in good shape going forward."
He said exactly what his handlers told ... err ... paid him to say. Then the bottom fell out.
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