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

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4est_4est_Gump said:
No Patrick just probably assumes that everyone who comes out of Harvard is a partisan idiot.



:D ;) ;)
Click to expand...

I don't know why you say such rude things here, about me or anyone. Ah well.

Incidentally I don't disagree with Feldstein's figures, as Vetteman suggests, but I am unsure of the conclusions he draws from them. I don't understand why he thinks that the government revenue increase will lead to recession. His reasoning isn't as crude as the views expressed here - indeed he thinks revenue does need reorganising - but I don't follow the argument.

You guys are amazingly partisan. I'm a neo-Keynesian but that doesn't stop me looking the data in the face. Feldstein is a brilliant guy, among his historic achievements are to have analysed the weaknesses of the euro fifteen years ago, and while Reaganite to have acted as a deficit hawk against the Reaganite reliance on increase of the national debt (which you're railing against now Obama is doing it).

This is going to be a tough decade whoever is in charge. That's fundamentally because a small number of people in the banking industry brought us to the precipice of a banking collapse, and then a consensus among Bushites and Obama-ites bailed them out at great public cost. (Feldstein was a board member at AIG, one of the worst offenders, incidentally, but their fantastic insurance risks were concealed from board level by crazy or corrupt senior officers, as far as I understand it)

I'm wary of the Paul Ryan budget proposals, in the past his detail for what's to be cut has been less than convincing. And if as Kudlow suggests it's dependent on optimistic growth forecasts then I'm doubly wary - politicians of right and left are always doing that in opposition. To their credit, UK conservatives are making the actual cuts at the moment and taking the flak for it.
 
Vetteman got alll excited when his cell phone sent him a priority text alert when his rss feed found the magic words "shit stain" in a Lit post....another false alarm for vetty. :(

So he compensates by posting a picture from his role model Perez Hilton's website.
 
Billionaire Donald Trump says the U.S. economy is poised for “massive inflation” and is warning investors to take steps now to protect themselves.

In the gripping CNBC interview, Trump also told investors they should not trust official government statistics.

He even questioned the “official unemployment” numbers. “It’s over 20 percent. It’s not 8.3 percent,” Trump said.

Trump also thinks skyrocketing oil prices will cripple the U.S. economy. “Right now, [oil] is at an all-time record for this time of the year, in the summer they predict $5 gasoline, maybe $6.”

But Trump isn’t the only expert warning the U.S. economy may go off the cliff. Robert Wiedemer, author of the New York Times best-selling book Aftershock, stated in a recent interview, “The data is clear, 50% unemployment, a 90% stock market drop, and 100% annual inflation . . . starting in 2012.”
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;) ;)
 
While growing "slower than we would like," the U.S. economy is expanding fast enough that it does not need further help from the central bank, Dallas Fed President Richard Fisher told Fox Business Network.

"We will not support further quantitative easing under these circumstances because there's a lot of money lying on the sidelines, lying fallow," he said, according to a transcript provided by the network. "We don't need any more monetary morphine."

Bernanke, by contrast, sounded more cautious, saying U.S. consumer spending is still too weak to ensure a healthy pace of economic growth. <ID:L1E8EM71N>

"Right now, in terms of debt and consumption, we're still way low relative to the pattern before the crisis," Bernanke told students in the second of two lectures at The George Washington University. "We lack a source of demand to keep the economy growing."

Fisher is in the minority at the Fed, which last week reiterated its expectation that it will need to keep short-term interest rates near zero through late 2014 to help a lackluster recovery.
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http://www.reuters.com/article/2012/03/22/us-usa-fed-idUSBRE82L1A520120322

So, the economy is growing, but the Fed is still acting as if it is in dire straights...

Mo, money for nothin', and checks for free...

;) ;)
 
4est_4est_Gump said:
He needs to start selling real estate to Chinamen and take them to the cleaners the same way he did with the Japanese...


;) ;)
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Was that before or after his second bankruptcy? I can never remember.

There's one man I wouldn't loan a dollar to!

But then again, I'm not too big to fail.
 
The higher you are
The farther you fall
The longer the walk
The farther you crawl
My body my temple
This temple it tilts
Step into the house that jack built

You don't know Jack.

:cool:
 
Chairman [Paul] Ryan: “t’s been argued...that the new health care law will create jobs and increase labor force participation. But if I recall from your analysis, it was quite the opposite. Is that not the case?”

Director [Douglas] Elmendorf : “Yes.”...

[…]

Rep. [John] Campbell: Thank you, Mr. Chairman, we'll -- and Dr. Elmendorf -- and we'll continue this conversation right now. First on health care, before I get to -- before I get to broader issues, you just mentioned that you believe -- or that in your estimate, that the health care law would reduce the labor used in the economy by about 1/2 of 1 percent, given that, I believe you say, there's 160 million full-time people working in '20-'21. That means that, in your estimation, the health care law would reduce employment by 800,000 in '20-'21. Is that correct?

Director Elmendorf: Yes. The way I would put it is that we do estimate, as you said, that...employment will be about 160 million by the end of the decade. Half a percent of that is 800,000.


http://www.weeklystandard.com/blogs...-reduce-employment-800000-workers_547288.html
 
koalabear said:
Chairman [Paul] Ryan: “t’s been argued...that the new health care law will create jobs and increase labor force participation. But if I recall from your analysis, it was quite the opposite. Is that not the case?”

Director [Douglas] Elmendorf : “Yes.”...

[…]

Rep. [John] Campbell: Thank you, Mr. Chairman, we'll -- and Dr. Elmendorf -- and we'll continue this conversation right now. First on health care, before I get to -- before I get to broader issues, you just mentioned that you believe -- or that in your estimate, that the health care law would reduce the labor used in the economy by about 1/2 of 1 percent, given that, I believe you say, there's 160 million full-time people working in '20-'21. That means that, in your estimation, the health care law would reduce employment by 800,000 in '20-'21. Is that correct?

Director Elmendorf: Yes. The way I would put it is that we do estimate, as you said, that...employment will be about 160 million by the end of the decade. Half a percent of that is 800,000.


http://www.weeklystandard.com/blogs...-reduce-employment-800000-workers_547288.html
Click to expand...


And STILL, no link to a reliable source.

How much was Obama's trip to India again?

:rolleyes:
 
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