I wonder how many times he's gonna say that tonight. Our economic policy since 2008 has been:
Can we admit that the pooch was screwed under Bush, but can we also admit that the screwing has intensified under Obama? FDR prolonged what should have been a sharp, painful and relatively brief depression into an epic and ongoing event with 'make-work' spending in the 1930's.
Tell me how creating new debt (and boy, those T bonds are popular these days, eh? Surprised?) to pay for government funded labor does anything other than line the pockets of this regime's favored segment (labor unions)? How different is it from the way the previous regime lined the pockets of its favored corporate chiefs?
A real economy needs to purify itself of the previous boom's excesses so that a new savings and investment cycle can begin. We are now 10+ years into the denial phase of what I have called the Era of Inflation onDemand and it's pathetic.
I think I'll watch football instead. I already know the script of this farce.
http://www.biiwii.blogspot.com
http://www.biiwii.com
- Give undeserved weight to the herd management of Lyin' Larry (and I don't mean Kudlow) with regard to treasury bonds...
- Let Paul Volcker walk right out of the administration...
- Let thuggish union heads become ever closer to the administration...
- Parrot 'roads & bridges' and 'crumbling infrastructure' despite the FDR style make-work that it so obviously is.
Can we admit that the pooch was screwed under Bush, but can we also admit that the screwing has intensified under Obama? FDR prolonged what should have been a sharp, painful and relatively brief depression into an epic and ongoing event with 'make-work' spending in the 1930's.
Tell me how creating new debt (and boy, those T bonds are popular these days, eh? Surprised?) to pay for government funded labor does anything other than line the pockets of this regime's favored segment (labor unions)? How different is it from the way the previous regime lined the pockets of its favored corporate chiefs?
A real economy needs to purify itself of the previous boom's excesses so that a new savings and investment cycle can begin. We are now 10+ years into the denial phase of what I have called the Era of Inflation onDemand and it's pathetic.
I think I'll watch football instead. I already know the script of this farce.
http://www.biiwii.blogspot.com
http://www.biiwii.com
Well, you know, your roads and bridges (and airports) do make your country look like the backwoods part of fucking Nigeria. You should have been fixing them for the past thirty years, instead of giving away trillions to the military and the banksters.
ReplyDeleteBut, I guess, in the libertarian utopia, roads and bridges will just fix themselves the minute we stop taxing anyone who doesn't live in a cardboard box.... :-)
I don't know about libertarian utopia, but I do know that when people are allowed to be productive, savings and investment follow.
ReplyDeleteFine, we will take people out of the cardboard boxes, put them to work on roads and tax the rich that benefited under Bush. I get it, and have expected it since the worst of the inflationary abuse croaked the middle class earlier this decade.
If they do it without whoring T bonds then I guess we'll just have to view it as an equal and opposite REaction. If they whore T bonds - which the current interest rate setup argues is likely - then we fall one more giant step down toward 'fucking Nigeria' as you call it.
You know what I call it? Channeling Jonathan, I call it the global leveling of the playing field. Why personalize it?