Upper tax cuts vs. unemployment benefits

[thoughtone]

Your Keynesian Heroes Bernanke & Krugman!

My Austrian references, Peter Schiff from 2006 @ 3:10

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source: New York Times

The Hard (Money) Men

<!-- The Content -->There’s a widespread impression that Keynesian fiscal policy has failed. I would argue that this impression is wrong — that the truth is that it was never tried. But surely one clear lesson of recent events is the macroeconomic value of currency flexibility: Poland, Iceland, Sweden have all benefited from currency depreciation during the worst times.
But Republicans want the Fed both to abandon concerns about employment and to focus on keeping the dollar strong:

Reps. Paul Ryan of Wisconsin and Indiana’s Mike Pence both repeated calls for an end to the central bank’s dual mandate to promote both jobs and maintain price stability. Members of Congress aren’t trying to encroach on the Fed’s independence, Pence said, but may have to take legislative action to change the Fed’s responsibilities.
“It’s time that the Fed focus solely on price stability and the dollar,” Pence said. He said the Fed’s plan to buy $600 billion in Treasury securities to goose the economy — generally known as “QE2″ — is an example of the central bank overstepping its bounds.
​

Oh, and this:

Pence said he supports comments made by World Bank President Robert Zoellick last month that global leaders should reconsider gold’s place in the global monetary system.
“The time has come to have a debate on the role of gold,” Pence said.
​

In other news, Republicans have demanded that doctors consider reintroducing the practice of treating illness by bleeding their patients.

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[thoughtone]

Your Keynesian Heroes Bernanke & Krugman!

My Austrian references, Peter Schiff from 2006 @ 3:10

<EMBED height=385 type=application/x-shockwave-flash width=480 src=http://www.youtube.com/v/x2qr5cSln3Q?fs=1&hl=en_US allowfullscreen="true" allowscriptaccess="always"></EMBED>

source: New York Times

Paul Krugman
The Hard (Money) Men

<!-- The Content -->There’s a widespread impression that Keynesian fiscal policy has failed. I would argue that this impression is wrong — that the truth is that it was never tried. But surely one clear lesson of recent events is the macroeconomic value of currency flexibility: Poland, Iceland, Sweden have all benefited from currency depreciation during the worst times.

But Republicans want the Fed both to abandon concerns about employment and to focus on keeping the dollar strong:

Reps. Paul Ryan of Wisconsin and Indiana’s Mike Pence both repeated calls for an end to the central bank’s dual mandate to promote both jobs and maintain price stability. Members of Congress aren’t trying to encroach on the Fed’s independence, Pence said, but may have to take legislative action to change the Fed’s responsibilities.

“It’s time that the Fed focus solely on price stability and the dollar,” Pence said. He said the Fed’s plan to buy $600 billion in Treasury securities to goose the economy — generally known as “QE2″ — is an example of the central bank overstepping its bounds.
​

Oh, and this:

Pence said he supports comments made by World Bank President Robert Zoellick last month that global leaders should reconsider gold’s place in the global monetary system.

“The time has come to have a debate on the role of gold,” Pence said.
​

In other news, Republicans have demanded that doctors consider reintroducing the practice of treating illness by bleeding their patients.

<!-- end .entry-content -->

 

[thoughtone]

I welcome all hataz, you must be one of those cyberbullies



The fundamental premise of my statement was to help people understand that, regardless of how much money is made, those earnings belong to the person who offered their labor, not govt.

I didn't say anything about minimum wage!



typo, my bad. thats for another thread



You're right, I don't subscribe to that Keynesian-Voodoo-economic bullshit cause they are simply wrong about everything! Do you need an example? Cause we can go all the way back to Greenspan if you like.

It is that govt intervention is what promotes the booms & busts (ie. Fannie Mae & Freddie Mac).

It amazes me that the media makes such a fuss about tax hikes vs. unemployment insurance, but Bernanke introduces QE2 to give all his Wall Street buddies $600 billion and y'all establishment cats is quiet! But I'm the idiot, y'all gettin played

I don't subscribe to that Keynesian-Voodoo-economic bullshit

Nice revisionist try Lamarr. HW Bush was referring to Ronald Reagan's trickle down economic theory you place so much faith in, not Keynesian Economics. You see what that has caused over the last thirty years and President Obama is in the process of trying it again with his concession of tax cuts.

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[Lamarr]

Paul Krugman

<!-- The Content -->There’s a widespread impression that Keynesian fiscal policy has failed. I would argue that this impression is wrong — that the truth is that it was never tried. But surely one clear lesson of recent events is the macroeconomic value of currency flexibility: Poland, Iceland, Sweden have all benefited from currency depreciation during the worst times.

Wow.........Krugman is attempting to justify currency depreciation & this is what you reference as a philosophy that works Currency depreciation hurts the poor, the middle class, & those on fixed incomes (mostly seniors). The act is counter-productive to those who want to save and own their own businesses. We always discuss why are the rich getting richer but no one owns up and says "it probably because they get access to the newly created money, first"

His phony democrat / republican arguments fails also. Both parties understand the privilege of workin with the Federal Reserve. Dems can have all the social programs they want & Repubs can finance wars to no end.

A 'real' conservative will tell you, if you introduced a hard money policy, these initiatives simply can not be financed. Peter Schiff is calling for a currency crisis & I'm getting prepared. Interesting cause Krugman thinks there is a chance of a double-dip.

 

[thoughtone]

Wow.........Krugman is attempting to justify currency depreciation & this is what you reference as a philosophy that works Currency depreciation hurts the poor, the middle class, & those on fixed incomes (mostly seniors). The act is counter-productive to those who want to save and own their own businesses. We always discuss why are the rich getting richer but no one owns up and says "it probably because they get access to the newly created money, first"

His phony democrat / republican arguments fails also. Both parties understand the privilege of workin with the Federal Reserve. Dems can have all the social programs they want & Repubs can finance wars to no end.

A 'real' conservative will tell you, if you introduced a hard money policy, these initiatives simply can not be financed. Peter Schiff is calling for a currency crisis & I'm getting prepared. Interesting cause Krugman thinks there is a chance of a double-dip.

The act is counter-productive to those who want to save and own their own businesses.

We've had 10 years of tax cuts. Where are the jobs the savers are suppose to want to own their business? And yet you want more! This was GW's philosophy and since it failed in the 1990s, it is trying to be repackaged. You obvious except the boom and bust cycles supply side economics is bound to create.

 

[Lamarr]

We've had 10 years of tax cuts. Where are the jobs the savers are suppose to want to own their business? And yet you want more! This was GW's philosophy and since it failed in the 1990s, it is trying to be repackaged. You obvious except the boom and bust cycles supply side economics is bound to create.

2 answers:

1) Keeping all things in perspective, we've been in perpetual War for those same 10 years. Americas productive resources have been used in an unproductive manner. The country, as a whole, does better when we're not bogged down with War. At some point in time, we gotta stop living in fear and promote goodwill around the world. True, Pres. Obama reduced troop levels in Iraq but damn, they've been diverted to Afghanistan, therefore, it's a 0 sum effect. And shame on Repubs who wanna bomb everydamnbody, it's simply not productive

2) Answer 2 is a little more direct, jobs were created...............they just weren't here in the US! Look at the cars we buy, flat screen TV's we watch, Nike Air's we wear. All imports, that's where the jobs are. Now, there are still entreprenuers who participate in the American economy but they shouldn't be punished because others are pursuing a "fast buck" through cheap labor.

 

[Lamarr]

Even if the tax were 100%, it wouldn't cover the debt. Tax cuts work because they keep capital in the system (that is, in the private sector), where it is many times more productive. (Ideally, as RP would say, the income tax rate would be 0%)

Refusing to cut spending adds to the deficit ! ! ! ! !

 

[thoughtone]

2 answers:

1) Keeping all things in perspective, we've been in perpetual War for those same 10 years. Americas productive resources have been used in an unproductive manner. The country, as a whole, does better when we're not bogged down with War. At some point in time, we gotta stop living in fear and promote goodwill around the world. True, Pres. Obama reduced troop levels in Iraq but damn, they've been diverted to Afghanistan, therefore, it's a 0 sum effect. And shame on Repubs who wanna bomb everydamnbody, it's simply not productive

2) Answer 2 is a little more direct, jobs were created...............they just weren't here in the US! Look at the cars we buy, flat screen TV's we watch, Nike Air's we wear. All imports, that's where the jobs are. Now, there are still entreprenuers who participate in the American economy but they shouldn't be punished because others are pursuing a "fast buck" through cheap labor.

1) Keeping all things in perspective, we've been in perpetual War for those same 10 years. Americas productive resources have been used in an unproductive manner. The country, as a whole, does better when we're not bogged down with War. At some point in time, we gotta stop living in fear and promote goodwill around the world. True, Pres. Obama reduced troop levels in Iraq but damn, they've been diverted to Afghanistan, therefore, it's a 0 sum effect. And shame on Repubs who wanna bomb everydamnbody, it's simply not productive

Duh! Was it even necessary to post the obvious?

but they shouldn't be punished because others are pursuing a "fast buck" through cheap labor.

The only people being punished are the victims of 30 years of supply side voodoo economics!

 

[Lamarr]

Duh! Was it even necessary to post the obvious?

if it's that obvious:

Why does Pres Obama need Clinton to assist in explaining this BS?

Why are we still at war, wasting America's productive resources in an unproductive manner?

Why are 20 CEO's meeting at the White House to talk about the struggling economy?

Instead of penalizing entreprenuers who wisely, invest their money overseas, we should try to figure out what it would take to invest here at home!

The only people being punished are the victims of 30 years of supply side voodoo economics!

no, the victims continue to be the individuals who feel govt intervention will solve the issues of the economy. They have been solving our problems for the last 30 years with all their legislation

C'mon Thought. Embrace freedom.......free markets, freedom of speech, freedom of assembly etc. Freedom is popular!