Comments on: [Update/Bumped Up] The economy: Scarier than we thought, and Obama’s plans are too timid to fix it

By: TeakwoodKite

TeakwoodKite — Sat, 04 Apr 2009 05:16:36 +0000

Around the world, the loss in equity value is about $40 trillion around the world.

My own view is that the collapse in housing values here is permanent. It’s a long-term loss. That was a huge bubble. We’re not going to see those prices again.

how do you get the debt “below the value of property”?

By: A Very-Well-Read, Nice, Non-Nobel-Prizewinning, Regular Jane-Type Who Cannot Tolerate Illogic Takes on a Supposed ‘Super Genius’ Nobel Laureate Extraordinaire—And YOU Get to Declare the Winner!!! « Sonic Ninja Kitty

Sat, 04 Apr 2009 03:30:04 +0000

[...] the article that got me all focused on this. I’ll say it again: Paul Krugman is wrong (here’s the [...]

By: foxyladi14

foxyladi14 — Fri, 03 Apr 2009 22:43:41 +0000

i gave up my cell phone..
stopped eating out.
gave up the dry cleaners,,it.s wash and wear..
shop the dollar store and thrift stores too..
save save save..yipee!!!!!!!!!

By: foxyladi14

foxyladi14 — Fri, 03 Apr 2009 22:36:20 +0000

ahhhhhhh,,Seattle you say it so well..
we will survive,,
remember the old saying,if it doesn’t kill you..it will make you stronger.
STAY STRONG FOLKS….

By: Sonic Ninja Kitty

Sonic Ninja Kitty — Fri, 03 Apr 2009 20:53:35 +0000

(follow the watch swinging back and forth) You are getting sleepy–come be one of us, Peggy!

Seriously, the only reason Ron Paul is not more popular is because he never supports a position just because it is popular and ‘feel-goody’–he only supports it if there are sound reasons behind it. These days that is political suicide.

By: Helen

Helen — Fri, 03 Apr 2009 16:47:15 +0000

…and directed to the wrong sector!

By: SensibleWomanNOTforBO

SensibleWomanNOTforBO — Fri, 03 Apr 2009 16:09:10 +0000

Hehehe…I thought that would get quite a response.

Now think about this…what can you make out of US currency that is USEFUL. *memories of chewing gum wrapper chains flashing…can something USEFUL be made in a similar fashion?*

Actually stumbled onto that while perusing crochet blogs/sites. How about cutting into lengths that are tied together like plastic bags that crocheters use to make recycled plastic bag items?

We’re innovative in this country, remember? Get the wheels churning…what CAN we do to get MORE bang for our bucks?

By: Peggy Sue

Peggy Sue — Fri, 03 Apr 2009 15:56:59 +0000

But that’s the problem, Sonic. We’re not living in a world ruled by common sense. In fact, common sense should be put on the endangered species list. Only in the rarified air of piliticians and economists would any of these lame brain policies sound reasaonable and sound. And though I never thought I’d say this:

Ron Paul looks like the last sane man standing.

The world is truly upside down!

By: Peggy Sue

Peggy Sue — Fri, 03 Apr 2009 15:48:49 +0000

It’s also ugly as hell. Maybe Michelle would like it?? [slap my face :0)]

By: politicalidentitycrisis

politicalidentitycrisis — Fri, 03 Apr 2009 15:38:59 +0000

OMFG! There is no way that is worth $1500! $15 maybe.

By: SensibleWomanNOTforBO

SensibleWomanNOTforBO — Fri, 03 Apr 2009 15:22:55 +0000

Hmmm…someone has found one way of beating the falling US dollar value…
A We Might As Well Wear It Necklace

Check out the price!

By: Peggy Sue

Peggy Sue — Fri, 03 Apr 2009 15:21:30 +0000

Exactly, we need a bridge to get to fossil-fuel independence, not idiotic, pie-in-the-sky remedies that will break the back of the average worker. We had these arguments endlessly before the election, as if all you needed was to think green and it will come. The United States has its own reserves to get us there and that means opening up everything until our alternative measures are ready to go.

Common sense. What a concept!

This was one issue that the Republicans were actually right on.

By: Sonic Ninja Kitty

Sonic Ninja Kitty — Fri, 03 Apr 2009 14:48:06 +0000

Briefly, Paul Krugman is wrong. Martin Wolf is wrong. There are mountains of articles and hundreds of economists out there who completely disagree with them. I believe many people are doing the same things to Krugman as some did with Obama–he is the ‘celebrity’ economist of the day. But if you listen closely to his words–do they honestly make sense?

How about this one–does this make sense to you:

If spending was the solution, we never would have had a problem.

from Ron Paul, Is Spending the Answer: http://www.lewrockwell.com/paul/paul511.html

If only it were that easy! Then why stop at trillions–why not gazillions? Imagine how ‘great’ our economy would be then. No–it is totally contrary to common sense.

The flaw of Keynesian economics lies in its basic premise that demand leads to wealth. We can no more demand or wish to be wealthy than we can vote ourselves rich. Demand does not create wealth; capital does, both material and human capital. A nation, just like an individual, becomes wealthy by the accumulation of income producing assets or what economists call capital formation.

from Roger Martinez, Keynesian Economics: A Flawed Theory: http://capitalisthero.com/Keynesian_Economics.php?gclid=CPf26aPjnZkCFRWbnAodvHMUDA

Larry Johnson’s plan would be great because it returns capital that has ALREADY been produced–real capital.

The government’s plan will not work because the money spent is either FIAT money–printed right out of thin air–or borrowed from the future (placing an unethical burden on future generations and overstretching our nation’s credit limit).

By: politicalidentitycrisis

politicalidentitycrisis — Fri, 03 Apr 2009 14:39:13 +0000

But shouldn’t the money be spent to actually stimulate the economy? I agree that we need the Government to spend a massive amount of money, and I am certainly not in charge, but common sense tells me that the spending needs to focus on jobs, jobs, jobs. If the American citizens have jobs and are confident they will continue to have jobs and the income from those jobs long term, they will stimulate the economy. If, however, the Government is spending alot of money on tatoo removal for gang members and to build schools in Wisconsin (in a district where enrollment is down so there are 15 vacant schools already), what is the point of that? no long term jobs in either of those situations. Spending is the right thing to do, but focused, purposeful spending, not frivolous spending. For example. Let’s say that in your personal life, Cynic, that you are going to be without income for a few months. Luckily, you know that in advance. You do have extra income at the moment. Would you be best off spending that money to stock up on food, or would you want to go out and buy a bunch of Obama Chia pets and commemorative plates with your money? The Government balance sheet is just larger than a taxpayers balance sheet. In the end, you have to be responsible with your money and meet your basic needs. For America, that is putting money to work. Working Americans stimulate the economy and bring tax dollars into the Government. The more workers, the more taxes collected, the more the Government has available to spend. That is a cycle that replenishes. Giving out money without any way of replacing it, eventually you’ll go broke. How does that tatoo removal bring money back into our budget?

By: WMCB

WMCB — Fri, 03 Apr 2009 14:36:04 +0000

I totally agree with getting us off fossil fuels, but you don’t do it by taxing the people to get it off the ground.

One part of the Republican budget that I really liked was the idea to open up and drill for more natural gas and oil, then put aside 1/3 of that money gained in a trust fund to develop CHEAPER alternative fuels.

It can be done, but in the R&D stage, all new technologies are expensive – too expensive for most consumers to make it feasible. Use a big chunk of the proceeds from our oil and gas reserves to get us over that R&D hump, then you can start offering the people alternatives that have the kinks worked out and in a volume that makes them affordable.