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Old 11-23-2008, 03:15 PM   #1
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Obama's plan to improve the economy

YouTube - Your Weekly Address from the President-elect

Will these government related jobs spark a recovery?

or on what you think.
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Old 11-23-2008, 06:01 PM   #2
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i'm not certain that job creation will spark a recovery on its own; but, our infrastructure, schools, and energy grid desperately need attention. i wish he would talk about creating a reliable, comprehensive, and sustainable national mass transit system as well.

somewhat related (to my post, anyway): http://www.nytimes.com/2008/11/16/op...prod=permalink
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Old 11-23-2008, 06:05 PM   #3
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I think that the capitalists should eat the poor, quite literally. There are too many poor, and removing them from the equation will help to revitalise the economy.

What do you think of my plan, Se7en?
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Old 11-23-2008, 06:09 PM   #4
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I think that the capitalists should eat the poor, quite literally.

They'll be all tough and stringy.
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Old 11-23-2008, 06:10 PM   #5
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I think that the capitalists should eat the poor, quite literally. There are too many poor, and removing them from the equation will help to revitalise the economy.

What do you think of my plan, Se7en?
this seems like something i could really get behind, financeguy.
i agree, there are too many poor people on welfare, medicaid, and unemployment insurance. eliminating them would free up cash for the rest of us.
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Old 11-23-2008, 06:18 PM   #6
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In seriousness I find it fun that Palin is attacked for the Bridge to Nowhere but that's exactly what is being proposed to get the economy out of a slump. I think when people reduce their debt load to something manageable they will have more confidence in their spending capabilities. The key is reducing government debt, consumer debt, and the trade deficit.

The personal savings rate has been at record low for too long now. Krugman can kiss my ass.
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Old 11-23-2008, 06:24 PM   #7
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In seriousness I find it fun that Palin is attacked for the Bridge to Nowhere but that's exactly what is being proposed to get the economy out of a slump. I think when people reduce their debt load to something manageable they will have more confidence in their spending capabilities. The key is reducing government debt, consumer debt, and the trade deficit.

The personal savings rate has been at record low for too long now. Krugman can kiss my ass.
how can you equate improving roads and bridges (that do, in fact, go somewhere), modernizing schools, and expanding alternative energy sources with the bridge to nowhere?
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Old 11-23-2008, 06:29 PM   #8
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how can you equate improving roads and bridges (that do, in fact, go somewhere), modernizing schools, and expanding alternative energy sources with the bridge to nowhere?
Because they are actually programs not based on demand. Roads and modernizing schools can happen anytime they need to but I think it's a buzz word for make work projects. Japan did it in the '90's and paved all over the place to prevent a recession and it didn't. The recession is happening naturally because people are over indebted. When people feel more confident and they have a handle on their debt then the economy will recover.

Obama is an FDR fan.
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Old 11-23-2008, 06:30 PM   #9
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In seriousness I find it fun that Palin is attacked for the Bridge to Nowhere but that's exactly what is being proposed to get the economy out of a slump.
You have to compare the return on investment (ROI) on the different projects. The bridge to nowhere has a big negative ROI.
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Old 11-23-2008, 06:47 PM   #10
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Because they are actually programs not based on demand. Roads and modernizing schools can happen anytime they need to but I think it's a buzz word for make work projects. Japan did it in the '90's and paved all over the place to prevent a recession and it didn't. The recession is happening naturally because people are over indebted. When people feel more confident and they have a handle on their debt then the economy will recover.
while there may not be a demand in the purest market sense for improved infrastructure, better schools, and alternative energy, i dare say that all three could use serious improvements and will clearly benefit the nation, at least in the long run. the bridge to nowhere would have accomplished nothing.

i agree that an economy predicated on debt spending is not sustainable, but people need good jobs to get out of debt. and that's something that is sorely lacking at the moment.
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Old 11-23-2008, 09:11 PM   #11
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while there may not be a demand in the purest market sense for improved infrastructure, better schools, and alternative energy, i dare say that all three could use serious improvements and will clearly benefit the nation, at least in the long run. the bridge to nowhere would have accomplished nothing.

i agree that an economy predicated on debt spending is not sustainable, but people need good jobs to get out of debt. and that's something that is sorely lacking at the moment.
Remember that not everyone is going to lose their jobs. The middle class that has decent jobs probably will still do so but they are often the ones in huge debt so they need to unload. The recession is simply a whole bunch of fake jobs that were created by cheap debt over the last 15 years being eliminated so people can shuffle over to other areas that can grow and are based on real needs and wants. The problem is that the people who can still buy are loaded with house and car debt and they can't buy anymore. That has to naturally resolve itself which means unemployment benefits will have to be used and food banks when necessary. If Obama doesn't do too many projects it won't matter one way or another but if taxes have to be raised enormously to do Japan style projects it will mean those same people loaded with debt will have less money to reinvest in the economy and/or pay down their debt which is the capital we need for new real jobs. I'd rather have a sharp short recession than a big long one. Obama better look to his "scalpel" on the budget and start find ways to narrow the deficit so people who save can have confidence in American bonds. It's pretty scary right now.
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Old 11-23-2008, 09:19 PM   #12
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You have to compare the return on investment (ROI) on the different projects. The bridge to nowhere has a big negative ROI.
I agree that the bridge to nowhere is crap but it did create fake jobs. If we are making jobs based on non-competitive government it's not going to do much to what is naturally occuring in the private sector. The U.S. is in a huge deficit and debt and blowing money on massive projects could force large tax increases more than anyone expected which slows a recovery. I mean Obama knows that and that's why he's talking about sacrifices. That's why I want people to look to themselves (especially when you have a job) and put together a budget and start eliminating variable entertainment expenses or greatly reducing them so debt payments can be larger and their stress can go down. It must be hugely stressful with a large mortgage/car payments and you have kids to feed. It's also stressful for those drawing retirement money from their dwindling investments.
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Old 11-23-2008, 09:24 PM   #13
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The U.S. is in a huge deficit and debt and blowing money on massive projects

Like a war?
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Old 11-23-2008, 09:52 PM   #14
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In seriousness I find it fun that Palin is attacked for the Bridge to Nowhere but that's exactly what is being proposed to get the economy out of a slump.
I really find it hard to take anything you say regarding the economy seriously the more you post. Saving is great, that part you have down, but everything else, I don't think any economist in their right mind would agree with you...

How can you compare a bridge to nowhere to actually moving this country forward? How is alternative energy going nowhere? How are better schools and infastructure going nowhere?

But I'm seeing much more clearly the reason you defend Palin so much, you are both out of touch...
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Old 11-23-2008, 10:00 PM   #15
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Like a war?


the greatest gift the world has ever known has been the removal of saddam hussein from power.

ingrate.

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