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Politics : View from the Center and Left
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To: JohnM who wrote (103201)2/5/2009 11:34:01 AM
From: Steve Lokness  Read Replies (1) of 542087
 
John:

Steve, your quotes were just rhetorical devices.

Hmmm? I went back and reread the post thinking I had missed something. I think John you have dug in your heels on this issue and dismiss different opinions. That is not usual for you, so I am puzzled. .......If you think any one person has the answers, I promise they do not. That is about all this professor of economics says; ...... The economy is complex and the interaction between the financial sector and the real economy - between Wall Street and Main Street - is not well understood. You really think this way of looking at our problem is "nonsense"?

And yet there is little or no consensus for what we should do right now to get the economy going and prevent it from getting worse. I wish it were otherwise. People expect us to know the answers. And plenty of economists claim to have the answers. Yet some of the finest economists in the country, including Nobel laureates, are on opposite sides of the current debate. And each side can cherry-pick data or historical anecdotes in support of its position.

The consequences of what we are doing driving our budget trillions into debt this year alone, could have disastrous consequnces unimaginable now and may dwarf the mistakes of the Iraq war - and those mistakes were huge!

steve
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