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

To: SilentZ who wrote (749000)	10/23/2013 8:06:13 PM
From: one_less	Respond to of 1572552

Did they teach you that if you destroy demand, the supply rots? The middle class productive sector of society is where demand comes from. It is disappearing. When the G gives consumers money to spend, instead of having consumers spend from their productive rewards, it mucks up the formula because you are double dipping in the G part of the formula. In other words its a grift. GDP = C + G + I + NX where: "C" is equal to all private consumption, or consumer spending, in a nation's economy "G" is the sum of government spending "I" is the sum of all the country's businesses spending on capital "NX" is the nation's total net exports, calculated as total exports minus total imports. (NX = Exports - Imports)

To: SilentZ who wrote (749000)	10/23/2013 8:37:15 PM
From: combjelly	Read Replies (1) \| Respond to of 1572552

Correct. My economics professor pointed out that there are two types of economics, real economics and political economics. What you are seeing here is the results of the Republicans having adopted Austrian School in the early 1980s because it dovetails with their political goals. It doesn't matter if it results in a sound economy, just as long as it can be justified to cut taxes.... I bet your professors would be surprised to find out that Keynesian economics died out in the 1970s....