
krugman has a crazy look in his eyes. |
The point isn’t really that hard to grasp. Wasteful spending, by definition, destroys wealth. And less wealth means less ability either to hire workers or to equip them with the tools that enhance their productivity, thereby 1) making it worthwhile to hire them in the first place, and 2) increasing their wages ... |
Thanks for a clear and terse (if perhaps over-simplifed) explanation of why Krugman wanted a bigger and more directed stimulus. |
Reading the S&P report and a few quotes come out "Despite this year’s wide-ranging debate, in our view, the differences between political parties have proven to be extraordinarily difficult to bridge, and, as we see it, the resulting agreement fell well short of the comprehensive fiscal consolidation that some proponents had envisaged until quite recently."
To me, they are saying they were surprised that no substantial cuts could be made and they don't think given the political climate any real cuts will be made until after the elections in 2012. "The outlook reflects our view of the increased risk that the political negotiations over when and how to address both the medium- and long-term fiscal challenges will persist until at least after national elections in 2012.” That is the reason for the downgrade: - no real cuts in the deficit - the political climate is so bad with such a huge divide between parties, that no substantial measures will be possible until after the next election. Not blaming anything on the tea party, except for the fact that the tea party and the far left are miles and miles apart. |
Who's the far left, and how did they do anything to inhibit compromise? |
Bernie Sanders and Tom Harkin, perhaps? Not that anyone in the negotiations paid any attention to them. The TP, on the other hand, vetoed the "Grand Deal" that Obama and Boehner seemed close to, which would probably have made S&P very happy. However, I think they did what was expected of them; Boehner deserves the blame for giving them the power. Personally, I think investors should pay as much attention to S&P's political opinions as to Sarah Palin's movie recommendations. |
Yeah - I was interested in the PP's opinion, since PP suggested that both sides were to blame. In another recent thread, a Dem poster was saying that the far left has been wrecking this presidency. If Bernie were actually having that much impact, I'd send him money. Actually, I probably should anyway... |
what is this "grand deal" I keep hearing about? Did the president ever take his proposal to the public. Did the president present the details of his plan to Congress? Oh thats right, the president never had such a plan! Come on, the grand deal was nothing more than targeted leaks to the Washington Post and NY Times to make him look more independent and centrist. If he was at all serious about such a proposal, he would have taken it to the american people. In other words, he would have led. Something this guy doesn't do and doesn't know how to do. I guess you don't get much executive experience being a community organizer or rabble rouser. |
You are overlooking the obvious: The Democrats were able to compromise. They gave away their major priorities in the last round. It is the political right that was unable to compromise, and that is why we don't have a significant debt deal. They are unwilling to cut the places necessary to make the debt go away, and they won't raise taxes either. Anyone can tell you that is an impossible situation. With the Democrats, everything is on the table - defense, ss, medicare, discretionary programs, taxes. Saying that they are miles apart begs the question: who's on planet earth and who is on Mars? |
I agree with most of this, though I'm not sure how he was a rabble rouser. I'd kinda like him to do a little more rousing of the rabble. To be fair, it's reasonable to assume that he had some input into Reid's plan, which was brought to the public, and which gave the Reps just about everything. I agree that that's certainly not leadership. |
That was the worst speech I have ever seen. Obama cannot help turn this around. The country is leaderless and will have to fix this without a leader. Palin is superior...thats right, I said it. |
Yeah...somehow I get the impression that this isn't the first time you've said that. Palin's done, at least for this election. Fortunately for you, there's a remarkably similar candidate available. And if it's not the MILF that appeals but primarily the crazy, you have lots of options. |
The point is Obama is stupider than Palin, thats all. I'm sure there are better candidates than both of them. |
If there was a gunfight. 15 m-16's per side, fight to the death, Palin commands one team...Obama the other , I would choose to follow Palin as my best chance to survive. End of story. brace for impact. |
I can just imagine the calm, quiet confidence that would blanket the markets if Sarah Palin were to become president. And her speeches! Who better to reassure us that there's rational, responsible leadership at the helm? |