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Debt, Spending, & Keynesian Foolishness
#17
WmLambert Wrote:If you remember this graph,
[Image: wapoobamabudget1.jpg]

balance it with this new finding.

Folks we are screwed.

If we could apply windings around John Maynard Keynes remains we could really generate a good deal of energy. His theories aside, he never EVER envisioned perpetual deficits. To hear a guy like Paul Krugman chastise Europe and Japan for pursuing austerity is simply breathtaking. The prodigious professor pleads and plies with prophesies and pontification. He is a preacher of promissory prosperity ... a virtual platypus of punditry. But what part of we won't EVER "start to save" if we NEVER get around to deciding to "start to save" does HE not understand? The hypocrisy is stunning. When an individual does dumb things that annihilate wealth (like taking on an unaffordable mortgage, not making payments, and then living for 'free' until the sheriff comes) that's BAD ... but when the Obama Administration and the F'ED does it it's somehow GOOD??? How is this even faintly possible for any reasonable human being to reconcile? The genuine absurdity here is that the $15-20+ Trillion under discussion is probably an order of magnitude less than the liabilities associated with Social Security and Medicare ... Shock Shock Shock Shock

I was planning a trip to the Home Depot today to pick up a load of bullsh*t for my garden, but on second thought maybe I could just get Tim Geither to talk to it?

The Elfin Wrote:"They (Europe) need to make the choice of what makes the best choice for their country -- it's going to differ across countries," Geithner said. "We're not in a position to figure out what the best mix of policies are, given what their politics are, that's the choice they have to make. But our job is to make sure we're all sitting there together, focused on this challenge of growth and confidence because growth and confidence are paramount."

Geithner, who will participate in the G20 summit this weekend in Toronto, said member countries all agree on the need to restore fiscal responsibility and bring down deficits to sustainable levels, but said the bulk of that should come after growth resumes.

"We've laid out very ambitious plans for doing that as well, and those will start to take effect as they are everywhere as the economy recovers and growth (is) restored," he said. "We're in a very good position now of being able to deliver relatively strong growth rates to what we're seeing in the other major economies, but I think the world understands now that the world, growth in the future around the world, can't depend on the United States as much as it did in the past."

Although Geithner has pressed the need for countries with fiscal capacity to keep spending to cement recovery, he said U.S. deficits were on track to decline "on a pace very rapid, very extreme relative to almost any other country around the world."

He said low U.S. interest rates and the relative strength of the dollar were a sign of investor confidence in America's ability to deliver a more sustainable fiscal position.

"Our deficit will fall dramatically as the economy recovers and as the emergency stimulus actions we put in place in crisis expire as they will," Geithner said. "So I think we have a very strong commitment to a responsible fiscal path for the future and you see that confidence in how investors, American and global investors, are behaving every day."
"Democracy is the theory that the common people know what they want and deserve to get it good and hard."
-- Henry Mencken
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Messages In This Thread
[No subject] - by Palladin - 03-07-2010, 09:34 AM
[No subject] - by Gunnen4u - 03-11-2010, 07:27 PM
[No subject] - by John L - 03-11-2010, 08:09 PM
[No subject] - by Gunnen4u - 03-11-2010, 08:15 PM
[No subject] - by jt - 03-12-2010, 04:20 PM
[No subject] - by Fredledingue - 03-13-2010, 03:18 PM
[No subject] - by John L - 06-03-2010, 04:27 PM
[No subject] - by jt - 06-03-2010, 06:07 PM
[No subject] - by John L - 06-03-2010, 06:58 PM
[No subject] - by jt - 06-03-2010, 07:06 PM
[No subject] - by Palladin - 06-03-2010, 07:18 PM
[No subject] - by Fredledingue - 06-06-2010, 05:15 PM
[No subject] - by TheMan - 06-07-2010, 03:40 AM
[No subject] - by WmLambert - 06-08-2010, 08:16 PM
[No subject] - by jt - 06-09-2010, 05:15 PM
[No subject] - by mr_yak - 06-27-2010, 02:34 PM
[No subject] - by John L - 06-27-2010, 03:15 PM
[No subject] - by WmLambert - 06-27-2010, 03:58 PM
[No subject] - by jt - 06-27-2010, 05:01 PM
[No subject] - by mr_yak - 06-27-2010, 06:05 PM
[No subject] - by John L - 06-27-2010, 06:10 PM
[No subject] - by mr_yak - 06-27-2010, 06:32 PM
[No subject] - by John L - 06-27-2010, 06:47 PM
[No subject] - by Gunnen4u - 06-27-2010, 06:52 PM
[No subject] - by John L - 06-28-2010, 12:04 PM
[No subject] - by John L - 06-28-2010, 12:08 PM
[No subject] - by John L - 06-28-2010, 03:31 PM
[No subject] - by Palladin - 06-28-2010, 03:46 PM
[No subject] - by John L - 06-28-2010, 04:14 PM
[No subject] - by WmLambert - 06-28-2010, 04:52 PM
[No subject] - by John L - 06-28-2010, 05:09 PM
[No subject] - by WmLambert - 06-28-2010, 06:01 PM
[No subject] - by John L - 06-28-2010, 07:03 PM
[No subject] - by Palladin - 06-28-2010, 08:01 PM
[No subject] - by WmLambert - 06-28-2010, 09:27 PM
[No subject] - by jt - 06-29-2010, 03:49 PM
[No subject] - by WmLambert - 06-29-2010, 04:24 PM
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[No subject] - by John L - 06-29-2010, 10:25 PM
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[No subject] - by mr_yak - 07-01-2010, 12:52 AM
[No subject] - by John L - 07-01-2010, 03:48 PM
[No subject] - by mr_yak - 07-01-2010, 09:35 PM
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[No subject] - by mr_yak - 07-02-2010, 07:17 PM
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[No subject] - by Fredledingue - 07-07-2010, 09:03 AM
[No subject] - by jt - 07-07-2010, 04:47 PM
[No subject] - by John L - 07-07-2010, 05:47 PM
[No subject] - by mr_yak - 07-07-2010, 09:14 PM
[No subject] - by jt - 07-08-2010, 07:05 PM
[No subject] - by Huh...What? - 07-08-2010, 07:52 PM
[No subject] - by John L - 07-08-2010, 07:56 PM
[No subject] - by mr_yak - 07-08-2010, 08:13 PM
[No subject] - by John L - 07-08-2010, 08:23 PM
[No subject] - by mr_yak - 07-08-2010, 08:36 PM
[No subject] - by Huh...What? - 07-09-2010, 11:34 AM
[No subject] - by John L - 07-09-2010, 02:11 PM
[No subject] - by jt - 07-09-2010, 04:16 PM
[No subject] - by mr_yak - 07-09-2010, 08:33 PM
[No subject] - by jt - 07-10-2010, 04:25 PM
[No subject] - by John L - 08-05-2010, 12:36 AM
[No subject] - by mv - 08-05-2010, 01:05 AM
[No subject] - by John L - 08-05-2010, 10:49 AM
[No subject] - by WmLambert - 08-05-2010, 01:29 PM
[No subject] - by mv - 08-05-2010, 02:30 PM
[No subject] - by John L - 09-27-2010, 01:38 PM
[No subject] - by John L - 10-13-2010, 03:51 PM
[No subject] - by John L - 10-25-2010, 06:09 PM
[No subject] - by John L - 10-25-2010, 06:09 PM
[No subject] - by mr_yak - 10-26-2010, 12:38 AM
[No subject] - by mr_yak - 10-26-2010, 12:38 AM
[No subject] - by John L - 10-26-2010, 01:36 AM
[No subject] - by John L - 10-26-2010, 01:36 AM
[No subject] - by Brooklyn - 10-26-2010, 01:04 PM
[No subject] - by Brooklyn - 10-26-2010, 01:04 PM
[No subject] - by John L - 10-26-2010, 01:18 PM
[No subject] - by John L - 10-26-2010, 01:18 PM
[No subject] - by mr_yak - 10-26-2010, 11:11 PM
[No subject] - by quadrat - 10-29-2010, 09:26 PM
[No subject] - by John L - 11-24-2010, 04:00 PM
[No subject] - by John L - 12-08-2010, 08:35 PM
[No subject] - by jt - 12-09-2010, 07:04 PM
[No subject] - by John L - 12-09-2010, 08:22 PM
[No subject] - by John L - 01-31-2011, 10:44 AM
[No subject] - by WmLambert - 01-31-2011, 12:39 PM
[No subject] - by John L - 04-15-2011, 04:38 PM
[No subject] - by John L - 04-15-2011, 04:38 PM
[No subject] - by John L - 04-20-2011, 10:15 AM
[No subject] - by John L - 04-20-2011, 10:56 AM
[No subject] - by quadrat - 04-20-2011, 12:47 PM
[No subject] - by jt - 04-22-2011, 05:54 PM
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[No subject] - by Buzz - 04-23-2011, 04:45 PM
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[No subject] - by jt - 04-25-2011, 05:20 PM
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[No subject] - by John L - 04-25-2011, 09:49 PM

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