What happened to all of the doom and gloom economic threads?

vetteman said:

I think Merc just tripped over the the Trouload trying to get in here.

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vetteman said:

Truth hurts, but it's true, Democrat state governors are implementing radical solutions bound to fail.

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4est_4est_Gump said:

You are lying again.

Notice that when I point out that Merc is lying, he just moves on to a new "serious charge."

I pointed that out with the sigline charge and then when he asserted that I said something that he later realized that busybody said...

It's in this thread.

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bra_man69 said:

Yes here we are keeping a failed company going that's the American way.
Fuck them let them go out business Kia are some other company take there place.
Kia, Toyota, BMW ect all make cars and trucks here.

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mercury14 said:

I called you on only using full compensation packages when looking at public sector jobs, while comparing nothing like that for private sector jobs. How much longer do we have to wait before you do the logical thing and consider private sector full packages and not just base salary?

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mercury14 said:

That's right, and it was the right thing to do. Other countries aid their industry during hard times. If we don't do the same then American companies will eventually become a scarcity on the global stage. Our market share will vanish and we'll become poorer relative to other nations. Would you have favored letting all our big banks fold during the recession? Because there are a ton of Chinese lenders willing to set up shop within our borders in their place. And since the Chinese government backs and owns most of their banking industry, you can be sure they'd be here to stay.

And LOL, no it's not just as good if Toyota runs a few plants here. Those are factory jobs but your policy just cost us our tech jobs, engineering jobs, and our high-paying corporate jobs. And you just put the fate of our economy into the hands of foreign nations.

I understand that you favor pure economic Darwinism, but in 2012 it just doesn't work like you want it to. Not even close.

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If Milton Friedman were alive today — and there has never been a time when he was more needed — he would be 100 years old. He was born on July 31, 1912. But Professor Friedman’s death at age 94 deprived the nation of one of those rare thinkers who had both genius and common sense. Most people would not be able to understand the complex economic analysis that won him a Nobel Prize, but people with no knowledge of economics had no trouble understanding his popular books like Free to Choose or the TV series of the same name.

In being able to express himself at both the highest level of his profession and also at a level that the average person could readily understand, Milton Friedman was like the economist whose theories and persona were most different from his own — John Maynard Keynes.

Like many, if not most, people who became prominent as opponents of the Left, Professor Friedman began on the Left. Decades later, looking back at a statement of his own from his early years, he said: “The most striking feature of this statement is how thoroughly Keynesian it is.”

No one converted Milton Friedman, either in economics or in his views on social policy. His own research, analysis, and experience converted him.

As a professor, he did not attempt to convert students to his political views. I made no secret of the fact that I was a Marxist when I was a student in Professor Friedman’s course, but he made no effort to change my views. He once said that anybody who was easily converted was not worth converting.

I was still a Marxist after taking Professor Friedman’s class. Working as an economist in the government converted me.

Milton Friedman is best known for his opposition to Keynesian economics, which had largely swept the economics profession on both sides of the Atlantic, with the notable exception of the University of Chicago, where Friedman was trained as a student and later taught.

In the heyday of Keynesian economics, many economists believed that inflationary government policies could reduce unemployment, and early empirical data seemed to support that view. The inference was that the government could make careful trade-offs between inflation and unemployment, and thus “fine tune” the economy.

Milton Friedman challenged this view with both facts and analysis. He showed that the relationship between inflation and unemployment held only in the short run, when the inflation was unexpected. But, after everyone got used to inflation, unemployment could be just as high with high inflation as it had been with low.

When both unemployment and inflation rose at the same time in the 1970s — “stagflation,” as it was called — the idea of the government “fine tuning” the economy faded away. There are still some die-hard Keynesians today who keep insisting that the government’s “stimulus” spending would have worked if only it had been bigger and lasted longer.

This is one of those heads-I-win-and-tails-you-lose arguments. Even if the government spends itself into bankruptcy and the economy still does not recover, Keynesians can always say that it would have worked if only the government had spent more.

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GENEVA — Swiss banking giant UBS AG posted a worse-than-expected 58 percent fall in second-quarter net profits of 425 million francs ($434.16 million) Tuesday, due to losses from the Facebook stock listing and a downturn at its investment banking division.

Switzerland’s largest bank said the 58 percent net profit drop, compared to a 1.02 billion Swiss franc ($1.2 billion) profit it posted in the same quarter last year ago reflects “challenging conditions marked by increased volatility and greater client caution.” The bank missed analysts’ estimates for more than 1 billion francs in profit.

http://www.washingtonpost.com/busin...-profit-drop/2012/07/31/gJQAzohzLX_story.html

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(Reuters) - Deutsche Bank (DBKGn.DE) said it will slash 1,900 jobs in an effort to achieve cost savings of about 3 billion euros ($3.67 billion) as part of a broader strategic overhaul unveiled by the bank's new chiefs on Tuesday.

http://www.reuters.com/article/2012/07/31/us-deutschebank-savings-jobs-idUSBRE86U0KL20120731

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Consumer Spending in U.S. Was Unchanged in June

Consumer spending in the U.S. stagnated in June as Americans used the biggest gain in incomes in three months to boost savings, indicating a weak handoff to the second half of the year.

Household purchases, which account for about 70 percent of the economy, were unchanged after a 0.1 percent decrease the prior month that was previously reported as little changed, a Commerce Department report showed today in Washington. The median estimate in a Bloomberg News survey of economists called for a 0.1 percent rise. Incomes rose 0.5 percent, lifting the savings rate to 4.4 percent, the highest in a year.

http://www.bloomberg.com/news/2012-07-31/consumer-spending-in-u-s-was-unchanged-in-june.html

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4est_4est_Gump said:

So you were lying about me editing you.

This is becoming a pattern.

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4est_4est_Gump said:

When we protect ours, they protect theirs. Tariffs and protectionism are more harmful to the economy than businesses being unable to compete.

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4est_4est_Gump said:

I would recommend Bastiat's Sophisms of the Protectionists, but it would be a total waste of time; your interest is in petty politics, not economics.

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mercury14 said:

That's right, and it was the right thing to do. Other countries aid their industry during hard times. If we don't do the same then American companies will eventually become a scarcity on the global stage. Our market share will vanish and we'll become poorer relative to other nations. Would you have favored letting all our big banks fold during the recession? Because there are a ton of Chinese lenders willing to set up shop within our borders in their place. And since the Chinese government backs and owns most of their banking industry, you can be sure they'd be here to stay.

And LOL, no it's not just as good if Toyota runs a few plants here. Those are factory jobs but your policy just cost us our tech jobs, engineering jobs, and our high-paying corporate jobs. And you just put the fate of our economy into the hands of foreign nations.

I understand that you favor pure economic Darwinism, but in 2012 it just doesn't work like you want it to. Not even close.

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mercury14 said:

Editing was a poor choice of words. What I meant was that you left out some of my comments in your "summary".

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NIGGERPOONZANDI

bra_man69 said:

Keynesian economics sucks.
Let the strong live in a capitalist economy.

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bra_man69 said:

Globalism sucks another failed thing from the left.

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bra_man69 said:

Yes let the big bank fail nothing to big to fail they made bad choices therefore bad things happen not all there fault some a lot from what congress did.

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bra_man69 said:

Um no the left put american jobs in foreign nations hands.

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mercury14 said:

You don't even know what Keynsianism is. You just heard from Glenn Beck that it's bad and that Obama is a racist, therefore you believe it.




Which liberal policy created globalism and highlight how conservatives opposed it. Yeah I thought so....

You don't know what the ripple effect of our big banks folding would be. Educate yourself please.

It wasn't that Chinese labor is 1/25th as expensive as American labor. It's "the Left" that made jobs go overseas. Just because you said so.

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bra_man69 said:

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bra_man69 said:

Shut up you racist fuck

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bra_man69 said:

Shut up racist fucking pig.

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