[sportbikebandit]

Well said Dude... I think I said the same thing months ago in one of my rants against W and his irresponsible fiscal policy.. Don't worry the dollar will fall and what's left of our manufacturing base along with our farmers will bail us out.....by exporting record levels of goods...

 

[sportbikebandit]

No but he took it to new levels

 

[sportbikebandit]

How can such things be happening with conservative Republicans in complete control of the federal government?

Good question as serasuzawa says they all are jerks...I never thought that would happen as someone who used to vote Republican more often than not.. I better stop right here cause my wife is a big W fan...She likes his 'values'

 

[sportbikebandit]

Yep have to agree even George Sr. described the Reagan like fiscal policy that W is doing as Vodoo Economics...Remember when George Sr. raises taxes to start balancing the balance. He did the right thing but got killed in the process. Clinton was a shrewd politician and continued the march to a balanced budget. One thing that Browing Bar has backwards is that the economy doesn't control the fiscal budget situation. i.e. he has cause and effect reversed. Gov through fiscal policy and monetary policy control the economy since it is a man made thing. i.e there are no such things as natural business cycles. The cycles are caused by changes in government fiscal or monetary policy. Mother nature doesn't make a good economy ...i.e it doesn't just happen Many bush supporters always say that the 90s boom happened by accident. They are dead wrong good fiscal and monetary policy created the boom. no vice versa... Econ 101 lesson for day Red Staters.

 

[sportbikebandit]

Still using the credit card.

Gas Prices rising, starting to cause prices to rise through out the economy, interest rates rising, massive government borrowing crowding out private investment. Yep a boom is coming maddog. Reaganomics (supply side econ) doesn't work. Right now things look great cause W is still using the credit card to pay the rent, etc. Just like individuals who get in over their head credit wise. When W reaches his credit limit.. Then dollar will fall fast causing imported goods prices to rise. Gasoline prices will rise cause the OPEC countries will figure out the dollar is worth less, thus causing another rise in costs to produce .. It's a viscious cycle called the 80s all over again.. i.e Vodoo economics. The government will then debase the currency by inflating the hell out of the money supply.

 

[sportbikebandit]

Yes..Go look at the number of actual .com jobs vs other jobs added back then... Also the favorable credit market (venture capital not competing with govt borrowing) helped make the dotcom boom. Don't confuse cause and effect...

 

[sportbikebandit]

Re: Still using the credit card.

Hey I am with you I agree.. But the problem with supply side as it was executed by Reagan Admin was this notion that you didn't have to reduce government spending. That there was this magical tax rate (remember the Laffer curve) that would be like a resonant frequency in electronics that would create the largest tax revenue. That didn't happen... When I said George Sr. did the right thing by raising taxes I meant he did the right thing by balancing the budget. The best thing would of been to reduce spending as well. Hey I am not a fan of the current tax system. I think a flat tax rate is best with a min income...

 

[sportbikebandit]

Well said. Excellent points... I am starting to view things the same way (not callous but realistic)...

 

[sportbikebandit]

Borrowed time pal Borrowed time, W is still charging iitems on your credit card. The min payment hasn't been paid.

Read this and see if you agree.