http://news.yahoo.com/s/ap/20090826/ap_ … ma_economy
All I can say is: Oh my God!
There's a story that right before the end of World War II Montgomery Ward, the guy who had the department store the same name, close down all sorts of words and fired all kinds of people because he thought that with the end of the war and a crash in government spending that we were headed right back to the Great Depression. If it wasn't so intensely frustrating, it would be hilarious, that what in fact happened was the largest economic expansion in the history of the United States. It really isn't rocket science, the more you tax and take away from people and the less they have to spend on getting the economy going. It's even worse when you take away from the rich, because the rich have more money to invest in the economy.
I swear to God, I lose faith in humanity sometimes. At any rate, we ought to see firsthand what the effects of massive deficit spending are and whether or not Keynesian economists really know what they're talking about. If you haven't done it yet, do yourself a favor, and do it now. Buy gold, silver, and oil were going to need it.
There is always hope.. have faith.. if you believe in praying that also helps. Just refrain from swearing to him. Never smart. Hugs to all.
We are slowly turning to machines.We are somewhat becoming slaves to money.Humanity exist in all humans.It is just that now a days humans don't want to let go off their money.It is so dear to them that frequently blood relations turn against each other and even end of the story.
But , But, Remember one thing there is this circle which turns around after every ten years approx., there is a realignment of people having cash with them.It takes a solid ten years min. to bear the fruit of your labour. Work hard and don't lose hope.And god for-sake if you become rich don't turn into those rich snobs, where we can call you selfish and lose faith once again.
Work hard and don't lose faith because your chance will come one day. GRAB IT WHEN IT COMES.
GOLD / SILVER wont be of any use it will be food and agriculture products which will drive economies.Remember we can fill our stomach with precious metals it will be food. Hungry people can go to any extent to get their hungry stomach filled.
"If you haven't done it yet, do yourself a favor, and do it now. Buy gold, silver, and oil were going to need it."
I've been telling people the same thing. I've added real estate to your list as well. Also you realy have to make sure and tell people to buy actual gold and silver, not paper..... In fact I would cash out 401k's, take the penalty and re-invest.
It really isn't rocket science, the more you tax and take away from people and the less they have to spend on getting the economy going. It's even worse when you take away from the rich, because the rich have more money to invest in the economy.
There are two things in this statement that just do not pan out. With the W. Bush administration there were all sorts of tax breaks for the rich. In spite of that the decline in the economy was becoming a real factor by the end of his administration.
I agree that the looming threat of a liberal administration may have had some effect in making the rich pull in the spending strings the fact of the matter remains we went into a major economic downturn that we can't fathom. The other point is that the result of this tax heaven the rich were living in was that 1% of the population controls 95% of the wealth.
After Reagan who was the great economics hope after the Carter debacle H Bush ran us into another economic mess that took a few years to get out of as well.
I know you have absolute confidence in the free enterprise system and the trickle down effects of tax breaks to the rich but these theories just don't seem to work as we cycle from one extreme to the next.
I agree with you on the idea that we "Cycle from one extreme to the other" To me, thats the real issue. Our government needs to get out of our economy completely or at least as much as possible. That way a drastic change in political ideology doesn't have such a great effect on the economy. Its the way the founding fathers intended, I beleve.
GW Bush had HUGE war spending. His tax cuts were not nearly enough to overcome that kind of defict government spending.
But why did we bounce back so quickly when slick Willy took over?
Are you not assuming it was a quick bounce back? Plus you know the media can cause a bump in the economy.
The huge growth in the 90's was due in large part to the "DOT COM" boom. Reagan invested heavily in silicon valley. That paid off, of course wallstreet screwed that up with greed.
Now thats not to say that Clinton's cleaning of the welfare rolls didn't help reduce spending. That was a great thing. It probably helped him get elected for a second term.....
When things get really bad, people stay close to home and begin trading and bartering. There's an undercurrent of that that already exists. If the banking system really did collapse, it isn't gold or commodities that will put food on the table. Can't eat gold.
When you keep reducing it down, it's about self sufficiency, and I don't mean the kind of people who build underground caverns and fill them with weapons of mass destruction. It's just about being sensible and getting back to basics. The more in you invest in yourself, and those you trust, the more you rebuild a thriving community.
I agree. If the economy completely fails it's food and other necessities that will become valuable not gold. Gold won't mean anything to a starving person when there are no places to buy the food or exchange the gold. There has to be an economic system working for gold, silver or even real estate to mean anything.
I think people will double up too. My grown kids have already talked about it. If there's a collapse we'll share the biggest house and pool our resources and abilities. It helps to have family, friends, community. When times get tough it's your friends and neighbors who get you through, so it's best not to make a habit of being a huge jerk.
Not like anyone here would do that, I'm just saying. If things get really bad a lot of the more idiotic political divisions we go round about are likely to vanish, at least temporarily. People will find they can tolerate the views of people who have food or survival skills.
I've seen this in action during blizzards up here. People who normally aren't overly friendly come out and help each other. We always assume the reverse will happen, but I haven't seen personally seen that.
Well the bounce back started before Willy took the post if you remember. Only by a few months but a recovery was started before he got into office. And I agree that the media always plays an important part of any manipulation....er news story they sling at us. But the people who understood a liberal was soon to take over continued the boom right through his term despite the taxes.
I just have never seen the trickle down or voodoo economics that is being touted here.
I will however tell you where I have seen the limited trickle down take place and that is in what we do best, make war and the machines to support it.
Police force of the world....it cant be sustained for ever can it? That's a huge problem. People will say that foriegn aid is a small percentage of the total budget. My stance is simply this, if you have to borrow you can't afford it.
The politicians are like a drunken sailor on liberty. They spend momey like it made of water. Why, because it is ours and not theirs. The idea that the greedy slime on the hill have a moral obligation to us is far fetched to say the least.
A better slogan to explain congress and their penchant for military spending should be if you have to borrow it, better yet!
When I lose my faith in humanity, that's where I find faith in God is most important.
Sorry I cant understand why should people suffer if God is all that powerful ?
Buying gold, silver and other precious metal is good to protect your asset.
<URLs snipped - no self-promotion in the Forums>
Real estate still means something. How else can you raise food?
Wall Street ain't nothin' but a casino. It's legalized gambling; the problem is they are the House betting with our money. They cash out and have us leave the blackjack table empty-handed. Might as well get real and rename it The Flamingo or Trump's Taj Mahal.
Oh, I've lost faith in humanity long ago. :B So, I'm not surprised here...but still...
by Moderndayslave 7 years ago
With the income gap between the wealthiest American's and the soon to be decimated middle or working class ever increasing. How much more proof do you need that tax cuts for the wealthy isn't creating jobs or supplying wages that are holding their own against inflation....
by Scott Belford 3 years ago
The bottom line of President Reagan's Right-wing endorsed economic policy is that "if you put more money in the hands of the wealthy, it will, 1) Expand the economy, 2) Let the boat rise with the economy, and 3) Prosperity will "Trickle-down to expand the middle class.None of those things...
by Deforest 4 years ago
poor" by Gore Vidal. He added that the rich are living off the federal government (contracts and tax breaks...).I definitively agree with him. Your opinion?
by fishskinfreak2008 8 years ago
Web-site/URL: http://news.yahoo.com/s/nm/us_usa_taxes_pollLooks like DEMOCRATS still have at least SOME support
by uncorrectedvision 7 years ago
What was my title? I thought about it and decided that Paul Krugman was the real point of this forum. I do know something about economics, politics and Paul Krugman. I know very little about the products of Summer's Eve. Krugman is a partisan, a warrior for one side and no...
by Steven Dison 6 years ago
Should there be more cuts to budget in the short term, even with the threat of austerity looming?
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