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Thread: Contagion Coming from Europe

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  1. #1
    Havakasha is offline

    Contagion Coming from Europe

    Roubini."Too many governments decided to do fiscal austerity too soon."
    Roubini. "The U.S. need fiscal tightening over the longer term but taking away fiscal
    stimulus now would take the economy back into recession."

    S&L, if he is right that means you might be wrong. Still sure about
    your expert knowledge of economics?

    http://www.cnbc.com/id/37974488

    And then there is this which i posted under the Krugman "Third Depression"
    article. Its all about what Ireland has tried with their austerity program.

    http://www.nytimes.com/2010/06/29/bu...agewanted=1&hp
    Last edited by Havakasha; 06-29-2010 at 11:28 AM.

  2. #2
    SiriuslyLong is offline
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    Joined: Jan 2009 Location: Ann Arbor, MI Posts: 3,560
    Quote Originally Posted by Havakasha View Post
    Roubini."Too many governments decided to do fiscal austerity too soon."
    Roubini. "The U.S. need fiscal tightening over the longer term but taking away fiscal
    stimulus now would take the economy back into recession."

    S&L, if he is right that means you might be wrong. Still sure about
    your expert knowledge of economics?

    http://www.cnbc.com/id/37974488

    And then there is this which i posted under the Krugman "Third Depression"
    article. Its all about what Ireland has tried with their austerity program.

    http://www.nytimes.com/2010/06/29/bu...agewanted=1&hp
    Years of stupidity are coming home to roost.

    The difference between you and I is that you trust, and pay dearly, for the federal government to stimulate the economy. I trust myself. You see, you and I give the government our money through taxes. They take 40% of it to cover their costs, then give it to the States who then take 40% to cover their costs. Do you now see my point?

  3. #3
    Havakasha is offline
    Well i thought the difference between you and i was that you have accepted the knee jerk reaction of many people that we have to reduce budget deficits NOW.

  4. #4
    SiriuslyLong is offline
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    SiriuslyLong's Avatar
    Joined: Jan 2009 Location: Ann Arbor, MI Posts: 3,560
    Quote Originally Posted by Havakasha View Post
    Well i thought the difference between you and i was that you have accepted the knee jerk reaction of many people that we have to reduce budget deficits NOW.
    Hey, if Obama wanted to stimulate the economy by eliminating federal taxes for a period of one year, I think most would gladly accept.

    So now you are as smart as the heads of state of Germany and England? After all, you did call their program a "knee jerk reaction".

  5. #5
    Havakasha is offline
    Actually Europe is cutting the budget deficit and raising taxes. I thought you supported Europe's path over Obama's? Maybe i misunderstood you.

    I was talking about Americans who have had a knee jerk reaction to stimulus versus budget cuts.
    The people who i believe are responding to the moment and not pure ideology (remember that most Conservative and Liberal economists are in agreement on this)argue that it makes sense to have stimulus now and to work at cutting the deficit down the line. I am listening to Roubini and Krugman and thinking what they say makes sense.

    Do you disagree with Roubini's comments?
    He argues on a case by case basis and then says:

    "too many govt's decided to do fiscal austerity too soon"
    "The U.S. needs to do fiscal tightening over the long term, but taking away
    fiscal stimulus now would take the economy back into recession"
    Last edited by Havakasha; 06-29-2010 at 05:31 PM.

  6. #6
    SiriuslyLong is offline
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    Joined: Jan 2009 Location: Ann Arbor, MI Posts: 3,560
    I believe in Stimulus, but not the way Obama is doing it. Like I've said time and time again, the federal government has overhead to pay for and is grossly inefficient. I'd like to see the statistic of how much stimulation is received per each tax dollar spent (my guess 30%).

    What Obama is doing is stereotypically liberal. The government is getting bigger and more far reaching into American lives. If he could stimulate without this, I'm sure more folks like me would be less disinfranchized - let me spend my money. I need to fix this place up.

    I love working out of my house. I turn on fox news and listen to the gloom and doom of "is the world broke?" not as in broken, but as in "no money".
    They are saying that even typically liberal media outlets like NYT are hopping on the gloom and doom bandwagon. That sure will make life tough for Obama.

    National debt is $42,000 per American head. What happens if we can't pay it back? Gerald Celente might have it right - revolts, revolution, anarchy.... Maybe the Mayans knew something?

    The plain truth is that we have built all we need to build. There's nothing left to do. The soylent green truck is around the corner lol.

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