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Civil discussion and debate on real world events and issues.


United States Second Presidential Debate

   
You are aware that infinite growth is a fallacy, right Ben?

Quote:
Originally Posted by Lord Ben View Post
Wallowing in economic despair and trying to make us comfortable at the bottom isn't our only option even if it's the only plan Obama has set forth.
That might be the most hysterical, demonizing description of a politician's platform that I've seen this election cycle.

Quote:
Originally Posted by Savayan View Post
You are aware that infinite growth is a fallacy, right Ben?
Try supply side tax cutting economics as a whole, nevermind infinite growth.

Still waiting on my explanation Ben, because Romney sure as hell isn't clarifying.

Quote:
Originally Posted by Lord Ben View Post
I'm not sure where I suggested it was infinite but thanks for the heads up.....
It's the underlying assumption if you expect Obama to return the economy to the sort of psudo-growth that characterizes a just pre-burst bubble economy.

Never mind any of the logical arguments that have been brought in this thread against the absurdity that Romney wants to continue.

bama didn't lead us into this recession, Bush did, and Romney's plan is a small variation on Bush's.

The heart of the recession is actually three things:
1) Going to war
2) Cutting taxes
3) Borrowing from other countries to pay for it (selling T-bonds)

(1) isn't a problem if you raise taxes to cover the costs
(2) isn't a problem if you are reducing expenditure and have a growing economy
(1) and (2) together was the most idiotic thing any rational economist had ever heard of. It meant that (3) was necessary.

But (3) was the heart of the housing bubble. The Treasury had to generate a profit to cover the effective interest payable on the T-bonds. They gave the money to the banks with the order "get it out there and generating a profit". So the banks loaned it out, and with owning a house as a priority investment, it largely went into housing. Make more money - reduce the deposit necessary, attract borrowers to your bank so you can generate more profit. And we know the result.

The recession can be laid squarely at the feet of Bush's advisers. Not Bush himself, he's not supposed to know this stuff. Greenspan should have known, and although he blames the Bush administration, the bubble was created by his policies. (Strangely, his thesis, supposedly about easy credit and housing bubbles, was removed at his request.)
He can point to the instructions he was given, however, so he's definitely not entirely to blame.

Quote:
Originally Posted by Muggie2 View Post
The recession can be laid squarely at the feet of Bush's advisers. Not Bush himself, he's not supposed to know this stuff.
He is supposed to find and appoint competent advisors who won't lead him into leading the country into disaster.

Quote:
Originally Posted by Lord Ben View Post
Or you reverse the policies and leadership that led you into the bad years instead of tolerating them. Wallowing in economic despair and trying to make us comfortable at the bottom isn't our only option even if it's the only plan Obama has set forth.
Because the recession is Obama's fault, and Romney's strategies don't resemble in any way the causes of it.




 

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