Different idea to turn the economy around

[JACKDRUID]

Originally posted by: UglyCasanova

And other Nobel candidates say that it might not be such a good idea after all. link Certainly not all economist are in agreement that the stimulus will work.

Example of the waste that we will be getting. For 900 billion dollars, we should be demanding so much more for our money.

doing nothing to rescue our economics is what we have done in the past 8 yrs with Bush, and look at us now... we don't want to do too much, but we have to do something.. its the whole balance between government and the governed ... DOING NOTHING IS NOT BALANCE.

 

[MovingTarget]

Originally posted by: BansheeX
Stop trying to centrally plan the allocation of stolen capital. Leave the money in the hands of its earner and they'll do the rest. The industrial revolution happened with gold money, no Fed, no welfare, and no income taxes. There was no price fixing, lobbying, or tax code manipulation going on to make people as irrational as they are today.

BWAHAHAHAHAHAHAHA! Are you really that dense? Price fixing was rampant as the Lords/nobles of old had even more power than the 19th century robber barons. Lobbying? Well, things were easier when the only one you had to lobby was the monarch or some parlaiment full of nobility unaccountable (for the most part) to their subjects. Tax code manipulation? Yeah, the 1st estate (Nobility) 2nd (Clergy) paid next to nothing while they rode on teh backs of the 3rd (everyone else) with their hard earned tax dollars. I'm sure you would just LOVE to return to that.

You FAIL at economic theory and history.

 

[UglyCasanova]

Originally posted by: dullard
This plan ultimately is just a small tax cut for the wealthy (only the wealthy really have the money for investments, and capital gains taxes on startups aren't that high anyways). We already have a large tax cut for the wealthy (Bush's tax cuts are now in full effect) and you can see where that got us. Cutting taxes on the wealthy doesn't really stimulate the economy since they often just sit on the sidelines with their extra money. Even with this prosed capital gains tax cut, nothing says that ANY extra investment will occur. They still may sit on their cash wads to ride out the bad economy.

The money is not being sat on unless it is stuffed under a mattress. If it is located anywhere else, be it in stocks, bonds, hell even checking accounts it is being used and invested. And the wealthy certainly are not the only ones investing. Household stock-market participation has been getting higher and higher over the years, especially with the advent of the internet. Long gone is the day where you retire on your social security check. Investing is a must when planning your retirement.

 

[BansheeX]

Originally posted by: LegendKiller

Originally posted by: BansheeX
Stop trying to centrally plan the allocation of stolen capital. Leave the money in the hands of its earner and they'll do the rest. The industrial revolution happened with gold money, no Fed, no welfare, and no income taxes. There was no price fixing, lobbying, or tax code manipulation going on to make people as irrational as they are today.

lol, I love how you connect the appearance of the IR to not having a Fed, as if that proved not having one is better. How much better would the IR have been if there was a stable monetary system that kept things liquid?

Have yet to see "price fixing".

You call a debt-based monetary system stable? We're on the verge of hyperinflationary collapse, LK. We've already mortgaged the farm to buy milk. The government's spending appetite is insatiable, when you have money that costs nothing to create, they will destroy its value and take on as many debt obligations as foreign savers will lend them.

And how is what the Fed does with the interest rate not price fixing? The risk of loaning money to someone is not set individually by banks.

BWAHAHAHAHAHAHAHA! Are you really that dense? Price fixing was rampant as the Lords/nobles of old had even more power than the 19th century robber barons. Lobbying? Well, things were easier when the only one you had to lobby was the monarch or some parlaiment full of nobility unaccountable (for the most part) to their subjects. Tax code manipulation? Yeah, the 1st estate (Nobility) 2nd (Clergy) paid next to nothing while they rode on teh backs of the 3rd (everyone else) with their hard earned tax dollars. I'm sure you would just LOVE to return to that.

You FAIL at economic theory and history.

Who said anything about those systems? Are you even on the same topic as me? During the Industrial Revolution in America, the country grew at its highest clip ever, it wasn't a bubble giving back its gains years later, few women even had to work, and it all happened without fiat currency, enormous government spending, an income tax, enormous government ponzi schemes, or centrally managed interest rates. It proves that there is historical precedent for prosperity creation without someone spending someone else's money for them. The only bad thing was bank runs caused by fractional reserve lending which allowed banks to create redeemable notes for which no metal existed and loan them out at interest.