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Politics : Politics of Energy

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To: RetiredNow who wrote (10648)	7/5/2009 2:10:51 PM
From: Hawkmoon	Read Replies (1) of 86356

it was a retrenchment from stimulus that exacerbated the Great Depression, because of fear of deficits. A lot of things exacerbated the Great Depression, but protectionism was the primary factor that inhibited international trade and entwining economic interests which led to nations pursuing their own selfish agendas. Since there was no "carrot" for international cooperation and mutual trade, instead they pursued imperial ambitions. en.wikipedia.org A second stimulus may be needed, but we won't get it because of fear of deficits and debt. That's because a good portion of the first stimulus was wasted on paying off political favors like an $8 Billion Mag-Lev from LA to Las Vegas instead of focusing on productivity enhancing technologies and job retraining (investing in our workforce). We should be afraid of the debt the Obama administration is subjecting us to. It has no rhyme or reason to it.. no plan to grow our economy. Debt should be assumed in order to invest in productive enhancement, and new technologies that the private market lacks the resources or clear profit motive to pursue (space travel, nano-materials, .. etc). But right now, I see nothing that speaks of economic epiphany from the Obama administration. Just hundreds of billions of new debt and no sense that it was invested in such a way that it brings greater returns in the future. Hawk

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