Fed Chief Greenspan: Tax Cuts spurred Economic Recovery

[bozack]

Originally posted by: Todd33
No. It's obvious you live in Texas and dropped out of high school, right?

I graduated college. BS, MS, PhD. I now work for one of the largest companies in the world, own a house, married, kid, etc. White guy too, conservative poster child so to speak, but I unplugged from the Matrix.

BS, MS, PHD and the best you can do is plagarize someone else's weak joke as witnessed in an earlier thread? really doesn't say much for our educational system I guess....

Texas...too funny, furthest south I lived was Northern VA and Metro DC area when I was working for the Space agency, now I work for one of the largest Biotech companies in the world, and I live in one of the most liberal states in the country next to Kalifornia and graduated from an equally liberal college....nice try though 🙂

 

[Shad0hawK]

Originally posted by: dmcowen674

Originally posted by: Shad0hawK

Originally posted by: conjur
Greenspan is playing it safe in his public statements. Anything potentially bad affects the markets when he speaks.

He and O'Neill were both very critical of the tax cuts early on. Is Greenspan turning partisan or just playing it safe w/his remarks?

the economy is people spending money. give the people more money, they have more money to spend...when they spend more money, the economy grows..because the economy is people spending money.

this concludes the economics for liberals class.

😉

Great example of NeoCons on Oxycontin :thumbsup:

actually when speaking to liberals about economics, even simplicity such as this is lost on them as they are too busy finding things that do not have anything to do with the economy to use to show that the economy is really bad despite the numbers.

for example: when a conservitive cites the largest period of GNP growth in 20 years under bush(or any other confirmed economic improvements) the liberal's answer is "well XXX amount of people got laid off from corporation x" hoping no one notices the smokescreen.

all in all i would say bush and tream is doing a good job turning around a "sagging economy" that began when clinton was president(funny how many seem to forget that)

back to work for me! for unlike many i actually have a job...that i went out and got myself instead of waiting for someone to hand it to me as if the world actually owed me something for some reason... 🙂

 

[Todd33]

I'm hurt bozack, you made fun of my joke. For a guy who claims to be more than trailor trash, you often resort to name calling, personal attacks and bigotry. You rarely debate with logic or even stick to facts.

I want proof of your claims. Largest GDP growth in 20 years huh?

We see that both real GNP growth and the unemployment rate have been worse under the Bush administration than they were under Clinton in his second term as President.

http://economics.about.com/cs/macroeconomics/a/presidency_4.htm

Is the economy picking up? Looks like it, but at what cost? Anyone can dump a ton of borrowed money into a system and see positive trends, but how will it sustain? How will it hurt in long term? How is it different than buying your way out of a recession? A good economy and a balanced budget would have been impressive, but the "conservatives" would rather spend out of control and pass the bill to future generations, but who cares about them?

 

[Vic]

Fed Chief Greenspan: Tax Cuts spurred Economic Recovery

Low interest rates is what has spurred the economic "recovery". Borrowed money all of it.

 

[dmcowen674]

Originally posted by: Shad0hawK
"the largest period of GNP growth in 20 years"

Yep, amazing what you can get using Technology and Slavery together. :roll:

 

[tallest1]

My browser times out when I have long quotes in my entries so this is in reply to Shad0hawK above me.

1) Give me an example of a domestic policy hes created this year that hasn't blatantly reversed a previous one, been based off of ultra-religious opinions, or been underfunded.

2) I'm referring to gas prices most specifically.

3) I'm speaking of corporation profits increasing amongst subpar unemployment levels. Aren't those tax cuts supposed to allow corporations to hire more people?

4) Tourism industry and world trade play a MAJOR factor in our economy. Do you think people who sell us goods or want to visit are going to ignore our antagonistic "with us or against us" policy?

 

[dmcowen674]

Originally posted by: tallest1

I'm speaking of corporation profits increasing amongst subpar unemployment levels.

Aren't those tax cuts supposed to allow corporations to hire more people?

They will never answer this, Elitist Cowards :disgust:

 

[Shad0hawK]

Originally posted by: Todd33
I'm hurt bozack, you made fun of my joke. For a guy who claims to be more than trailor trash, you often resort to name calling, personal attacks and bigotry. You rarely debate with logic or even stick to facts.

I want proof of your claims. Largest GDP growth in 20 years huh?

We see that both real GNP growth and the unemployment rate have been worse under the Bush administration than they were under Clinton in his second term as President.

http://economics.about.com/cs/macroeconomics/a/presidency_4.htm

Is the economy picking up? Looks like it, but at what cost? Anyone can dump a ton of borrowed money into a system and see positive trends, but how will it sustain? How will it hurt in long term? How is it different than buying your way out of a recession? A good economy and a balanced budget would have been impressive, but the "conservatives" would rather spend out of control and pass the bill to future generations, but who cares about them?

what rock have you been hiding under?

linky

years...linky

how will it suatain? if people keep spending money(that IS the economy as i earlier pointed out.)

as i also mentioned earlier, the economic downturn began during the clinton years, which goes to show you can only tax the people to death for so long until it hurts the economy(when people have no money they spend no money)

how much money I have and the amount of my personal debt matters to me more than how much money/debt the government has...because i am one of those people who depend on myself for my welfare and i like it that way.

 

[dmcowen674]

Originally posted by: Shad0hawK
as i also mentioned earlier, the economic downturn began during the clinton years, which goes to show you can only tax the people to death for so long until it hurts the economy(when people have no money they spend no money)

Ahahaha, I'm getting so cracked up today, great posts :thumbsup:

OMG, you would think with posts like this that all Taxes have been repealed :roll: ,

typical NeoCon Bullsh1t.

 

[bozack]

Originally posted by: Todd33
I'm hurt bozack, you made fun of my joke. For a guy who claims to be more than trailor trash, you often resort to name calling, personal attacks and bigotry. You rarely debate with logic or even stick to facts.

I want proof of your claims. Largest GDP growth in 20 years huh?

We see that both real GNP growth and the unemployment rate have been worse under the Bush administration than they were under Clinton in his second term as President.

http://economics.about.com/cs/macroeconomics/a/presidency_4.htm

Is the economy picking up? Looks like it, but at what cost? Anyone can dump a ton of borrowed money into a system and see positive trends, but how will it sustain? How will it hurt in long term? How is it different than buying your way out of a recession? A good economy and a balanced budget would have been impressive, but the "conservatives" would rather spend out of control and pass the bill to future generations, but who cares about them?

Claims..lol, I never claim to be more than trailer trash but instead leave that up to the reader...you are free to come to whatever conclusion you like I was simply pointing out that I never lived in the deep south and did in fact finish college.

As for econ, again this topic was about greenspan's comments, and if you notice I didn't even touch on the econ but rather focused on his comment....the guy has a history of calling it like he sees it and being fairly non partisan...all of the crap that you just spewed out above really has nothing to do with what we were discussing before, one would figure a PHD would be able to follow a conversation....unless of course you are FOS.

 

[Todd33]

what rock have you been hiding under?

linky

years...linky

how will it suatain? if people keep spending money(that IS the economy as i earlier pointed out.)

as i also mentioned earlier, the economic downturn began during the clinton years, which goes to show you can only tax the people to death for so long until it hurts the economy(when people have no money they spend no money)

how much money I have and the amount of my personal debt matters to me more than how much money/debt the government has...because i am one of those people who depend on myself for my welfare and i like it that way.

Were the numbers revised?

http://www.msnbc.msn.com/id/5295316/

 

[imported_Cybit]

I like how everyone missed the entire "make sure you don't spend anymore and get out of the deficit" part of Greenspan's comments. Which, you know with a war, isn't probably going to happen. Supply side economics is based on people spending. People afraid of their parents/wives/husbands/sons/daughters dying in a war, people afraid of terrorists, people afraid of money grubbing corporations, they don't spend. See: Reagan.

 

[Dimkaumd]

There is a vast amount of people in this country and in the world who think everyone else owes them something. They work, get a small pay check and then see someone driving an S500 mercedes or something and right away want to take away some of their money. I like the statement "They dont need that much money" Its like me taking away a fat-kid's sandwich cause im hungry and saying well I need it more. Tough. You want a bigger paycheck go get a new degree and make your own paycheck. stop whining about other ppl being richer than you

 

[dmcowen674]

Originally posted by: Todd33

what rock have you been hiding under?


Were the numbers revised?

http://www.msnbc.msn.com/id/5295316/

They're not hiding under Rocks, they are hiding behind numbers that they change weekly at will:

U.S. economic growth slower than expected

GDP revised downward to 3.9 percent annual rate

The 3.9 percent growth rate marked the slowest pace since the second quarter of 2003.

Some analysts say economic growth in the current April-to-June quarter could be restrained by higher energy prices, which could crimp consumer and business spending. Second-quarter economic growth estimates range from a 3.5 percent pace to just more than 4.5 percent.

Under either of those scenarios, growth would be sufficient to continue generating jobs and keep the economy on track for a projected 4.7 percent gain in GDP for all of 2004. Such a figure would mark the strongest showing in 20 years, analysts say.
================================

They always have an excuse :disgust:

 

[bozack]

Originally posted by: Dimkaumd
There is a vast amount of people in this country and in the world who think everyone else owes them something. They work, get a small pay check and then see someone driving an S500 mercedes or something and right away want to take away some of their money. I like the statement "They dont need that much money" Its like me taking away a fat-kid's sandwich cause im hungry and saying well I need it more. Tough. You want a bigger paycheck go get a new degree and make your own paycheck. stop whining about other ppl being richer than you

what I don't get is guys like dave and co who have all day to bitch and whine here about not making enough money, not finding work, the suck economy.....hell I know if I were unhappy with my situation the last thing I would do is give in and post here and complain all of the time, lucky for me my work encourages freedom to do as you wish in your downtime. Heck, I quit during the worst possible time (2002) moved to Massachusetts which was one of the worst possible markets for an IT professional and still was only out of work for less than 2 months and took nothing major of a paycut...

 

[dmcowen674]

Originally posted by: bozack

Originally posted by: Dimkaumd
There is a vast amount of people in this country and in the world who think everyone else owes them something. They work, get a small pay check and then see someone driving an S500 mercedes or something and right away want to take away some of their money. I like the statement "They dont need that much money" Its like me taking away a fat-kid's sandwich cause im hungry and saying well I need it more. Tough. You want a bigger paycheck go get a new degree and make your own paycheck. stop whining about other ppl being richer than you

what I don't get is guys like dave and co who have all day to bitch and whine here about not making enough money, not finding work, the suck economy.....hell I know if I were unhappy with my situation the last thing I would do is give in and post here and complain all of the time, lucky for me my work encourages freedom to do as you wish in your downtime. Heck, I quit during the worst possible time (2002) moved to Massachusetts which was one of the worst possible markets for an IT professional and still was only out of work for less than 2 months and took nothing major of a paycut...

If you're going to hang a carrot out, tell the rest of the story. Like you really quit your job for no apparent reason and moved to Masa Chew Sits without having a job lined up, yeah right :roll:

 

[jkasmann]

Originally posted by: EagleKeeper

Originally posted by: daveshel
I have always wondered how it is that Greenspan has held his position for so long, through so many changes in administration. What is his special magic, or his special talent?

Steady hand and non-political.

H generates a feeling of confidence within the financial world.

If he was booted, it would create a lack of confidence in the financial world, affecting the stock and money markets. He has demonstrated that he can control/influence the economic movements with a light touch on the reins.

Killed inflation with braking the ecomony to hard and is able to anticipate the need of controlling inflation.

An FYI for the person who asked the original question: Greenspan is a member of the Federal Reserve Board of Governors. Each member is appointed by a president to serve a 14 year term. In Greenspan's case, he was appointed (by Reagan) as a replacement when the previous chairman stepped down before his term ended. Because he was a replacement, Greenspan got to finish the previous member's 14 year term, and then serve an additional 14 year term for himself. I believe the end of his term is coming up in a couple years, when he will no longer be a member (I don't think you can serve consecutive normal terms). I has nothing to do with "lack of confidence in the financial world".

Another point about Greenspan is that he cannot be removed from his position be either the president or congress, so there is no reason for him to "suck up" to anyone. The Federal Reserve is run independently from the government, and apart from appointing the board of governors, the president/congress has no control over it. In addition, it is known that Greenspan disliked Bush Sr. and his administration's policies; so even go so far as to say that he tried to sabotage Sr. by raising interest rates the day after he got the republican re-nomination. Not sure if that was really his motive, but either way, it is a little hard to believe Greenspan says what he says just to make GWB happy. There is not any reason for him to do so.

 

[TheGameIs21]

Originally posted by: jkasmann

Originally posted by: EagleKeeper

Originally posted by: daveshel
I have always wondered how it is that Greenspan has held his position for so long, through so many changes in administration. What is his special magic, or his special talent?

Steady hand and non-political.

H generates a feeling of confidence within the financial world.

If he was booted, it would create a lack of confidence in the financial world, affecting the stock and money markets. He has demonstrated that he can control/influence the economic movements with a light touch on the reins.

Killed inflation with braking the ecomony to hard and is able to anticipate the need of controlling inflation.

An FYI for the person who asked the original question: Greenspan is a member of the Federal Reserve Board of Governors. Each member is appointed by a president to serve a 14 year term. In Greenspan's case, he was appointed (by Reagan) as a replacement when the previous chairman stepped down before his term ended. Because he was a replacement, Greenspan got to finish the previous member's 14 year term, and then serve an additional 14 year term for himself. I believe the end of his term is coming up in a couple years, when he will no longer be a member (I don't think you can serve consecutive normal terms). I has nothing to do with "lack of confidence in the financial world".

Another point about Greenspan is that he cannot be removed from his position be either the president or congress, so there is no reason for him to "suck up" to anyone. The Federal Reserve is run independently from the government, and apart from appointing the board of governors, the president/congress has no control over it. In addition, it is known that Greenspan disliked Bush Sr. and his administration's policies; so even go so far as to say that he tried to sabotage Sr. by raising interest rates the day after he got the republican re-nomination. Not sure if that was really his motive, but either way, it is a little hard to believe Greenspan says what he says just to make GWB happy. There is not any reason for him to do so.

Comeon!!! You really expect everyone to believe that? He said something that sounded like "The president was right" (even thought that's not what was said)... Everyone knows that he must be sucking up to GWB for his Big Oil connections. He's going to be out shortly and needs to make money somehow.

I can't believe the BS you are spreading... Who in their right mind would even think of saying anything but negative things about this administration?