Austerity Programs Won’t Work!

[KeithE]

[KeithE]

[William Thornton]

One thing for certain. Obama will not reward innovation...unless it is a union shop (antithesis of innovation), reward for environmentalist cronies, or payoff to other constituencies.

By all means, I encourage undecideds to vote for Rocky. He could be the 2012 Nader.

[KeithE]

[William Thornton]

Sorry, Keith, the Obamancy hasn't worked, will not work...your graphs notwithstanding.

[Haruo]

FWIW in my new job which I start this week I will be "forced" to join the union. The company insists. Yay!

[KeithE]

[William Thornton]

[KeithE]

[William Thornton]

Love you bro...but...yadda, yadda, yadda.

I will be writing a serious piece tomorrow on how I will handle four more years of Obamancy and will probably repost it on BLife.

[William Thornton]

[David Flick]

[Ed Pettibone]

Ed: Good to hear from you David, love that quote from Murrow.

The old adage figures don't lie but liars figure may need an addition like "and then they produce or have produced, charts to support their lies".

[KeithE]

To add to the Murrow quote: And to be truthful we need DATA. Don’t like the true DATA, then David blows it off as “bogus” and “meaningless”. William makes up something outlandish like Obama's gazillion at the Caymans.

Bernanke outlawing interest on Caymans? What shred of evidence do you have for that, William? I’ve googled in vain on that one.

Bernanke is keeping borrowing interest rates low throughout the US. But investment interest he is in no way saying "no interest”; he is hoping for just the opposite.

I very afraid of austerity programs that cut govt spending and therefore jobs (public and private). If Romney is elected and follows thru on anything like the Ryan plan or sequestration happens due to extreme political partisanship no matter who wins, we will head into a recession or depression. Austerity has not worked in Europe and won’t work here.




Personally, it is my considered belief that my mutual funds (and even bonds) will fall rapidly; thus my conversion to a fixed but small interest rate via annuity or CD. Better than a collapse of the market.

[ET]

Austerity won't work, but a combination of one or more of the following will:

1) print more money, thereby making the money one already has less valuable.
2) borrow more money...that is, if you can find folks who will lend it to you and trust you can pay it back. Maybe Keith and Paul Krugman will lend the Greeks some money to stimulate their economy. I suggest, Keith, you put your money where your mouth is and buy some Greek government bonds or something along those lines.
3) tax your citizens more, thereby allowing them to keep less to spend on whatever

Yeah, THAT'S the answer.

To tweak a phrase from the movie Top Gun...as the carrier commander told Maverick and Goose: "Son, your government's writing checks your taxpayers can't cash!"

[KeithE]

[KeithE]

And that is not all.

[ET]

Yeah, it wouldn't surprise me that "most economists" are Keynesian in their viewpoint these days. That explains a LOT of the economic mess around the world - be it here, Greece, France, Spain, Portugal.

I'm curious as to where the Greeks should get the money which all the Keynesian folks want them to spend. Do they just print it? Do they try to get people to buy bonds? Do they guilt Germany and France and the EU into giving a drunk a drink to cure him of his alcoholism? Or does money really grow on trees in the "World of Keynes"?


From a Yahoo news article off the AP wire a week or so ago: Since 1985 or thereabouts, France's unemployment rate has been below 8% for a whopping total of 16 months - out of about 25 years. Sixteen months of unemployment below 8% during an entire generation of workers. Is this what "Obamanomics", Obamacare, Paul Krugman and KeithE's economic policies have in store for us? (rhetorical question)

[KeithE]

[ET]

[Tim Bonney]

[ET]

[KeithE]

Again, here is a heartfelt warning.


, the de-stimulating effect (lower spending and increased taxes) will caused our GDP to fall almost as bad as Greece and Portugal.



But alas no one is seriously talking a adequate stimulus package. Obama’s offering is a little better than Boehner’s but not much. Neither will be as bad as going off the cliff (slashing spending and increasing taxes).

[ET]

Why don't you seriously talk about how to PAY for such a package?

[KeithE]