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

To: koan who wrote (751221)	11/5/2013 12:28:15 AM
From: Bilow	3 Recommendations Recommended By Brian Sullivan Tenchusatsu TideGlider Read Replies (1) \| Respond to of 1577883

Hi koan; Re: "We had as large a debt after WWII and we grew out of it with the massive stimulus program of WWII. Full employment in the 1940's allowed people to pay down their debt and start businesses and buy stuff and pay more taxes. This allowed both the private sector and the public sector to pay off their debt. And by the 50's we were in good shape." That was back when both the Republican and Democrat parties were in favor of economic growth. Now only the Republicans are in favor of it. The Democrats are against growth because it leads to things that they are against. Growth makes businesses and rich people even more wealthy. And it destroys natural resources. And it inevitably involves the suppression of poor people in the 3rd world. And some fish might die. Or it could cause carbon "pollution". No, this is not the world of 1945. The Democratic party of FDR is not the Democratic party of Obama. And our debt is not the debt of 1945. We are in deep trouble. Fortunately, for the moment at least, our debt is denominated in a currency we can print (uh, quantitative ease that is) at will. Eventually we'll get inflation and the printing presses will be less effective. -- Carl

To: koan who wrote (751221)	11/5/2013 2:10:42 PM
From: Tenchusatsu	2 Recommendations Recommended By FJB i-node Read Replies (1) \| Respond to of 1577883

Koan, We had as large a debt after WWII and we grew out of it with the massive stimulus program of WWII. This is one of the dumbest things I hear from the so-called "Keynesians," that WWII was actually a massive "economic stimulus program." It's the broken window fallacy taken to the worst extreme. To point out that our debt today was no bigger than the debt during WWII, in terms of GDP, is silly unless we're fighting WWIII. And no one wants that. "I don't know what weapons will be used to fight WWIII, but I do know that WWIV will be fought with sticks and stones." - Albert Einstein Tenchusatsu