dagblog - Comments for "All You Need To Know About The Debt In 3 Seconds"

Maybe I misunderstood your

Verified Atheist — Thu, 11 Sep 2014 16:07:40 +0000

Maybe I misunderstood your response here, but my prior sarcasm was meant to agree with you, not to disagree with you.

I take it you never took

Beetlejuice — Mon, 01 Sep 2014 17:15:01 +0000

I take it you never took economics in college, eh?

More production means more people working, earning money, spending it on goods and services and paying taxes all while corporate profits rise. And what someone produces, someone else wants to purchase so each feeds off the other. It's the vicious cycle necessary for a healthy economy.

What we have now is too many goods with too few consumers so production is retarded. Something is necessary to spur consumption. Corporations are more inclined to buy back their stock so as to increase their costs per share and reward shareholders rather than plow profits back into the business to create more goods to perk consumer interest and drive demand.

So it's the government who has to stimulate the economy to get the consumer interested in purchasing goods to kick start the economic engine again.

Keep in mind, days after 9/11, Bu$h pleaded with the public to go out and shop and dine ... everyone was so frightened by the event, they shuttered themselves indoors and businesses nationwide felt as if the Twin Tower fell on them. From what I heard, the economy almost went tits-up simply because no one was consuming anything but the very basics.

I took Econ 201 and 202 9

Beetlejuice — Mon, 01 Sep 2014 17:14:02 +0000

In reply to When I first went to college,

I took Econ 201 and 202 (macro/micro) in 1978-9. My instructor was Indian. In fact, he worked at the US embassy in India while going to college for his masters and doctorate and I'll give you three (3) guesses who the Ambassador was.

So you're making the bold

Verified Atheist — Sun, 31 Aug 2014 16:43:42 +0000

In reply to The real key for growth would

So you're making the bold assertion that if more people were producing things we'd produce more things? That's just crazy talk! (Yes, common sense seems to be in short supply sometimes.)

When I first went to college,

trkingmomoe — Sun, 31 Aug 2014 08:47:40 +0000

In reply to The real key for growth would

When I first went to college, economics and social sciences were enamored with Millton Freedman. For profit corporations was the answer to our society growth and government should only be small and make war. The text books devoted a lot of space to his ideas. I am in my 60's now and most CEO's and Politicians were fed the same education who are now leaders.

In 1989 I went back to school to take additional courses in economics and only a little space had been devoted to Freeman. Economics was far more practical and realistic, then through the Freeman love affair years. I had to read Kenneth Galbraith's classic book on the depression for that class. The austerity ideas that caused the train wreck will fall to the wayside as the generation in power changes.

Obama spent time teaching at the University of Chicago. Freedman's theories was known as the "Chicago school of thought." It was still clinging to some of that kind of thinking when he was there. I think that is why he didn't break up the banks.

The real key for growth would

Beetlejuice — Sun, 31 Aug 2014 01:20:31 +0000

In reply to All You Need To Know About The Debt In 3 Seconds

The real key for growth would be increased full-time employment figures and lower under-employment figures. Everyone working full time means more people paying taxes which in turns means more revenue flowing into the government to pay off their bills.

So why is it, these so-called know-it-alls never think full-time employment, fewer people under-employment, and lower to almost non-existence unemployment rates is the path to follow?

Your piece reminds me of this

Resistance — Wed, 27 Aug 2014 20:42:15 +0000

In reply to All You Need To Know About The Debt In 3 Seconds

Your piece reminds me of this video I saw this AM

Austerity hurting Hollande's popularity - CNN.com Video

http://www.cnn.com/video/data/2.0/video/world/2014/08/26/nr-france-austerity-steve-hanke-intv.cnn.html

That was more than 3 seconds.

Michael Wolraich — Wed, 27 Aug 2014 20:11:00 +0000

In reply to All You Need To Know About The Debt In 3 Seconds

That was more than 3 seconds. Worth it though.