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

To: RetiredNow who wrote (774940)	3/14/2014 4:09:34 PM
From: Steve Lokness	Read Replies (3) \| Respond to of 1576865

Fascinating comments Mindmeld. <<< Keynesianism is never a solution of root causes, but rather all it does is buy you time >>> I completely agree, but we have been living off keynesian styled stimulus so long that we have become addicted to it. As I noted in a previous post. Going all the way back to when Bush first took office, cut taxes and gave tax payers a refund and then as if that wasn't enough Greenspan cheered the parade jumping on board with way easy money. Even wars in my mind are keynesian spending programs. And that is the evil of keynesian coupled with a democracy. We vote for who will give us the most and pass on the most to worry about some time down the road. It's a mind set. Conservatives - fiscal conservatives - should have stood up and denounced the ridiculous evil easy money of Greenspan (and Bush) but instead they embraced it. They worshiped Greenspan. So Bush got a complete pass - and when things really needed a temporary "keynesian - buy me some time" - it got ratcheted up. Obama had no choice and since democrats by their very nature are not good fiscal disciplinarians and since Bush had already spread his favors on his crowd of supporters, well my goodness it was now the turn of democrats to get rewarded. And of course they did. ...........Speaking of mindset, what do the Austrians tell us about the role of the mind - collective human action? What are the business cycles, that Austrians preach if not group thinking? And so we enter this bizarre world where even the Austrian economic predictions have - for me - mysteriously not gone along with what we should expect. ..........Where is the inflation!!!!

To: RetiredNow who wrote (774940)	3/15/2014 1:46:48 AM
From: i-node	Read Replies (2) \| Respond to of 1576865

>> When Dick Cheney said "Deficit don't matter," I hung up my GOP hat for good. But there are several problems with that statement. First of all, is there any real evidence he actually said it? I know that a disgruntled employee (O'Neill) who was supposedly fired by Cheney claimed Cheney said that. Did anyone else ever say they heard it? Secondly, there is the issue of context. Because deficits do matter in some contexts, and don't in others. For example, when it comes to national defense, deficits don't matter. You do what you have to to protect your country. OTOH, when it comes to making life easier for people, you do that when you can afford it. It also matters how big the deficits are. It matters that when this comment was purportedly made, we were talking about a deficit of $150 Billion. Since then, under Obama's mismanagement, we have seen deficits 10x that and will see those deficits again in the future. And finally, it matters because the deficit under Bush didn't cause the problem. I will say he didn't do anything to stop it, but he was not the root cause of it;it had been cooking for years.