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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: i-node who wrote (655750)	5/20/2012 9:59:49 PM
From: combjelly	Read Replies (2) \| Respond to of 1579682

"Roemer said it would, even though she wanted twice the stimulus." Things were worse than she thought. Your point? "And the same thing happened during the Depression, the same thing happened in Japan in the 90s, and every time it has been tried this nonsense approach has failed." Japan was a different case. Japan was, and still is to an extent in a liquidity trap. You are, and have been, wrong about the Great Depression. Deficit spending helped, but austerity measures were instituted too soon, the unemployment rate was still above 10%. "Keynes' ideas have, simply put, been disproved, time and again." No they haven't. Now what has been disproven is the Chicago School. That failed in a rather major way in 2008. "what government spends (less productively)" Nonsense. As has been proven. " it worsened as it became evident we were going to get a left wing nutjob as our next president." Nonsense. It was pretty bad by the end of 2008. Long before Obama was looking likely. "And it peaked as he took office. But going into it, most economists expected us to accelerate out of it quickly." Not all. It never accelerates quickly when the collapse is financial. That is a long and slow process. "It didn't take months. We're looking at YEARS" The recovery started in months. To fully recover will take a long time. The LFPR won't recover until we do something about the long term unemployed. And that likely will require retraining. And that will cost money. "We know, with 100% certainty, that the process by which Osama was found had been underway for years" Sure. But Smirk had moved on. He said so himself. "The unions, as I've explained to you before, drove GM into Chapter 11." You have made that claim. But it isn't true. Management drove GM into Chapter 11. They had mismanaged the company for decades. Look at Ford. They changed the corporate culture a few years before. And they started pumping out cars that they should have decades before. It was close, but they didn't have to Chapter 11 because of that. Heck, they are even paying a dividend now, however small. GM needed a change in corporate culture. They had been dominated by bean counters who lived and died by their quarterly report. "You think they're suddenly going to just say, "Oh, we aren't going to demand more benefits because we don't want to kill the company?"" They have already done that. Please try to keep up. "it is necessary to take into account, for example, the fact that tax cuts may (in this case, DID) increase government revenues as well as productivity over what would otherwise have been." Nonsense again. Tax cuts only do that if they are way too high. Which obviously wasn't the case. When Clinton raised taxes, the Republicans screamed that it would tip the country into recession. The exact opposite occurred.