Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Skeeter Bug who wrote (99176)	7/1/2009 3:28:04 AM
From: axial	Respond to of 116555

LOL! You expect anyone to buy into a prejudiced opinion piece from Wall Street butt-kissers at the Journal? The piece is full of misstatements and phony tricks... "...since at least the late 1970s, and didn't impede the longest run of prosperity in U.S. history." Yeah? The longest run of prosperity? Sez who? Growth in real GDP looks pretty shabby. --- Raise taxes? You knew that 3 decades ago. You knew that when PayGo was stopped. NOW the same people that cheered borrow-and-spend are critics! You handed the incoming administration the greatest economic and financial crisis since '29, with $1.7 trillion in new debt and deficit spending, and now this lamebrain discovers that taxes will have to be raised? Wow! Give him a gold star. If you'd been paying taxes in the first place - not borrowing - you wouldn't be facing these problems. It ain't rocket science. This guy is an exponent of the obvious. --- What he doesn't say is that federal spending must be reduced as soon as the economy starts to recover. Entitlement programs must be rationalized, and expenditures cut drastically. More important: Done properly - at an annual rate of 10% of projected GDP, the combination can pay off the national debt in 50 years. Jim