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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (102353)	9/29/2011 10:34:29 PM
From: Nicholas Thompson	Read Replies (1) \| Respond to of 149317

Well said, TEJEK

To: tejek who wrote (102353)	9/30/2011 10:17:41 PM
From: RetiredNow	Read Replies (1) \| Respond to of 149317

More stimulus? You are delusional. If you have been spending too much and borrowing to much, what course of action do you take to get your own fiscal house in order? Do you go on a spending orgy until all the banks and credit card companies refuse to lend you more money? You could. It certainly would feel good in the short run. You might even get lucky and land a big salary job, which enables you to live at those elevated standards. But the probable outcome is that you will crash and burn. More spending is heroin to the heroin addict. The smart thing to do is to cut back. Take the pain now, before it is too late and you destroy the entire free market system. Yes, it will involve significant pain. I can even tell you how much. We are currently running a $14T GDP and $1.5T of it is borrowed for deficit spending by our government. If we balanced the budget to live within our means, then that would be a 10%+ hit to GDP. If you took it all at once, it would be a 10%+ contraction in the first year. That means you could increase unemployment by 5-10% easily. Yes, it would be very painful. But then the economy would be reset to baseline, sustainable growth. Malinvestment, such as the financialization of our economy, would be rolled back. Investment would go to those opportunities where risk and reward were carefully considered. Private industry does that best, not the government. Unemployment would come down faster over the longer run as certainty was restored in the free markets and businesses began to increase investment in new projects. The heroin addict would be cured and would no longer need the heroin. I suspect that this debate is very similar to the AGW debate or religion. Either you believe in one side or the other, but you are not likely to change anyone's mind. All my Masters degrees are in business and I've spent 30 years in private industry. My mind is made up on what works in real world, free market economies. What Bernanke, Geithner, Obama, and the Democrats have done is to twist our free markets into something unrecognizeable. The stock market itself is no longer a mechanism for allocating capital based on risk and reward assessments. Rather, it is a puppet on strings manipulated by the Fed. I want free markets back. That made this country great. Why turn our back on them now? Socialism and Communist Centrally Planned Economies NEVER work in the long run. How many collapsed socialist countries do we have to review for you to believe that? Cuba? USSR? North Korea? Venezuela?