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Politics : Formerly About Advanced Micro Devices

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To: mel221 who wrote (751861)

11/8/2013 6:38:38 PM

From: koan

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Saying the stimulus of WWII pulled us put of the great depression is not asserting that FDR's other programs did nothing. The other programs did not do ENOUGH. We needed a larger stimulus to really do the job. But economists did not understand that very well at that time. WWII gave us information.

Krugman and Stiglitz and Roemer said right from the beginning in 08 that the stimulus Obama did was not going to be large enough, but few felt Obama could get more from the Republican's and a third of it was in tax cuts the pubs forced on Obama which is the least effective stimulus. It probably kept us form going into a depression, but we needed a larger one.

It is not an all or nothing proposition. It is a matter of how much is required. The recession 08 pushed into was so severe we need to do more. It is a matter of degree.

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Koan... you recently asserted that it was the stimulus from WWII that ended the great depression. As Brumar89 astutely pointed out, you are basically asserting that all of FDR's stimulus prior to WWII failed.

Now you are doing it again. Obama has increased the Federal Debt by $6T since he came to office. That increase in debt is $6T borrowed from the future and spent in the here and now. That's stimulus to the economy. In addition, the Federal Reserve, via its QE (n) operations, has injected another $2T of stimulus into the economy. That is a total of $8T of stimulus applied to this economy since Obama has been President.

With all that stimulus, employment is still high and economy generally sucks. Once again you, the liberals and the Keynesians are asking for yet still more stimulus.

By asking for more stimulus, you are now admitting the prior $8T of stimulus has failed to stimulate the economy.

Here is an applicable quote from one of your mentors; Albert Einstein once said “The definition of insanity is doing the same thing over and over again and expecting different results.

Why will the stimulus you seek now produce different results this time?

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