Obama Advisor: Damaging If All Countries Move To Austerity At Once

[oraclewizard77]

We got one of the dumbest Presidents in a long time.

1) Giving state money to study ants or other crap does not create jobs nor does it stimulate the economy.

(What should be done is spend money on rebuilding the roads and highways of America which creates both jobs and stimulus).

2) Telling banks not to not party in Las Vegas, does not create stimulus or jobs, it reduces both.

3) Putting a 6 month freeze on drillers destroys jobs and stimulus especially to a region that is going to lose jobs fishing.

4) Giving banks money but not requiring they lend it out to people who are going to use it to buy homes or support businesses does not create jobs or stimulate the economy.

5) Having the company that was so unsafe and stupid in causing the oil problem in the 1st place, trying to plug the hole, does not work.

 

[nazzdack]

Quote from nutmeg:
....these one liners.....

1) I am not "paid by the word" nor "by the hour".
2) Brevity, conciseness, terseness, getting-to-the-pointness and wordy-ness are more "valuable".

 

[nazzdack]

Quote from achilles28:
.....hugely overweight.....

Liposuction nor gastric bypass won't do much good.

 

[Ivanovich]

Quote from MKTrader:

By the numbers I've seen, California (and perhaps a few other states) are in worse shape than Greece and other PIIGS. As a whole, the U.S. isn't quite as bad as far as debt-to-GDP, etc.

Not unless you actually add in all the numbers. Like Fannie and Freddie, etc.

 

[achilles28]

Quote from nazzdack:

Liposuction nor gastric bypass won't do much good.

I agree. When the "IMF" runs out of money, what then?

 

[nazzdack]

Quote from achilles28:
.....what then?

A piece of industrial-strength duct tape placed over the mouth. :eek:

 

[Humpy]

Quote from achilles28:

I agree. When the "IMF" runs out of money, what then?

While there is ink and paper they can go on printing money until it becomes worthless - like Zimbabwe

Trying to stimulate Western economies is like giving the pensioners viagra. They have done their bit and are now out of time and energy. Just a pity a lot of the kids nowadays are overweight and useless. Too many big macs and soppy parenting imho

 

[Humpy]

Some very fundamental questions need to be asked urgently

For instance

Are the present political and economic systems still fit for purpose ?

Can any of the world's religions offer what's needed ?

Competition around the world will hot up in the coming decades - can the present systems deliver ?

 

[bigarrow]

Quote from oraclewizard77:

We got one of the dumbest Presidents in a long time.

1) Giving state money to study ants or other crap does not create jobs nor does it stimulate the economy.

(What should be done is spend money on rebuilding the roads and highways of America which creates both jobs and stimulus).

2) Telling banks not to not party in Las Vegas, does not create stimulus or jobs, it reduces both.

3) Putting a 6 month freeze on drillers destroys jobs and stimulus especially to a region that is going to lose jobs fishing.

4) Giving banks money but not requiring they lend it out to people who are going to use it to buy homes or support businesses does not create jobs or stimulate the economy.

5) Having the company that was so unsafe and stupid in causing the oil problem in the 1st place, trying to plug the hole, does not work.

Agree with all but #3, as I understand the freeze is only on deep water drilling with is a very conservative action. The gulf would be screwed if we had two BP's happen at the same time. And it would be foolish to continue deep water drilling until they figure out how to fix the problem we now have.
My guess is they should require one or two relief wells to be drilled at the same time, this would stimulate the economy.

 

[nazzdack]

Quote from Humpy:
----Are the present political and economic systems still fit for purpose?
----Can any of the world's religions offer what's needed ?
----Competition around the world will "heat" up in the coming decades - can the present systems deliver ?

1) No. Anything credit-based will fail in the long run.
2) No. Religion is for illiterate people. Islam could potentially have value with its emphasis on not charging people interest on loans but taking an equity stake in a borrower's business as alternative payment.
3) No. More competition means more deflation. Everybody can suffer together.