Keynesian Economics

58 posts / 0 new

Comments

Polycarp You can have your own opinion but not your own facts.

The recession ended June 2009

Source: NBER

The determination that the last expansion began in June 2009 is the most recent decision of the Business Cycle Dating Committee of the National Bureau of Economic Research.

Check the data; at that point we had only spent $81bn in 'stimulus'

Sobieski's picture
Sobieski
Joined:
Jul. 6, 2011 2:19 pm
Quote Sobieski:

Check the data; at that point we had only spent $81bn in 'stimulus'

That $81 bn number is BS. Does that count TARP? Does it count the stimulus checks sent out by Bush? Does it count the first-time homebuyer's credit from 2008? Does it count the tax relief on debt-forgiveness from people foreclosed upon? Does it count however much crap securities Bernanke paid 100 cents on the dollar for in QE1?

chilidog
Joined:
Jul. 31, 2007 4:01 pm

The "recession" has ended for finance. $20 trillion in direct bailouts and gurantees of toxic paper did the trick. Bernanke throwing hundreds of billions more into finance under the guise of Quantitative Easing worked wonders. It's going to go into a double dip as some economies of Europe begin to collapse in an endeavor to pay off banksters..

However, the real economy, ...the one most people live in,..... continues to tank. If you believe the recession is over, toddle down to your local unemployment office or Food Bank.

Retired Monk - "Ideology is a disease".

polycarp2
Joined:
Jul. 31, 2007 4:01 pm

We spent $81 bn of the $810bn in vallue detracting 'stimulus', to fight a non-existent recession.

Even when it became crystal clear the recession was over, they kept throwing money at ending the recession.

Sobieski's picture
Sobieski
Joined:
Jul. 6, 2011 2:19 pm

Polycarp2 The recession ended in Jiune 2009; you don't get your own 'facts'

You want to carp about no recovery, talk to Obama/Pelosi/Reid, whose value detracting policies have killed our recovery

Sobieski's picture
Sobieski
Joined:
Jul. 6, 2011 2:19 pm

Polycarp2, what is the title and author of the German finance book on Hitler and the Depression you've cited a couple of times?

Phaedrus76's picture
Phaedrus76
Joined:
Sep. 14, 2010 8:21 pm

Value subtracting? The value of an economy is what it produces in goods and services.. Some people. including the Head of the Fed. have the notion that money is the economy. It isn't. It's merely a tool used within the economy to distribute goods and services.

, I'll agree that value subtracting is the on-going program.. We use money to distribute production and services. There isn't enough of it on Main Street to do that. When goods and services can't be distributed, they stop being produced. Value subtracting.

Government should probably use its Constitutional authority to simply spend money into existence on Main Street to take up the slack. It needn't borrow a dime to do that. However, we don't do what Germany proved works when it extricated itself from the Great Depression.. We have a "feed the bankster and super-rich" ideology to maintain.

Government borrows from them rather than simply spending money into existence so the Main Street money supply can equal productive capacity..The Constitution gives government the authority to create and simply spend money into existence when required...without borrowing. The U.S. Founding Fathers weren't twits when it came to monetary policy. .The Germans understood that even if we don't. It's difficult for Americans in our era to wrap their heads around that.

Retired Monk - "Ideology is a disease"..

.

polycarp2
Joined:
Jul. 31, 2007 4:01 pm

Currently Chatting

Time to Rethink the War on Terror

Thom plus logo

When Eric Holder eventually steps down as Attorney General, he will leave behind a complicated legacy, some of it tragic, like his decision not to prosecute Wall Street after the financial crisis, and his all-out war on whistleblowers like Edward Snowden.

Powered by Pressflow, an open source content management system