Black_Swan:
Well, I mean, deficit spending is a big part of trying to fix any economic downturn. I would be extremely alarmed to see a surplus developing over the past four years in the midst of global strain and our own deleveraging. That, in my mind, would fit the bill as poor management of an economy. So you could argue running a deficit was a large part of what he did to fix the economy. I’m confused what else people feel should have been done? Again, legitimate question, not trying to argue.
I agree full heartedly, criticising Obama on this point is like criticisizing the fire department for all the water damage and repairs you have to do after they finish putting out an out of control blaze at your home.
Of course the deficit will explode and economy is going to suck shit for a few years, thats what happens following a financial crisis.
MoreMoneyPleas:
Recently, MIT economist Daron Acemogelu released a co-authored book called “Why Nations Fail”. It mostly states that “inclusive politcal institutions” are needed for “invlusive ecnomic institutions”-- and inclusive ecnomic institutions are what brings prosperity. An "inclusive political institution is basically the rule of law-- property rights, anti-corruption measures, low taxes, etc… what I’m saying is the decrease in troops sounds great but didn’t do us, the world, or the middle east any good. We should be in there insitlling inculsive politcal institutions… obama doesnt get this. He’ll abandon the area and it will be in poverty for another 100 years.
Yes, because nation building has worked very well for us before…
rawraw
November 10, 2012, 1:34pm
#103
bodhisattva:
Black_Swan:
Well, I mean, deficit spending is a big part of trying to fix any economic downturn. I would be extremely alarmed to see a surplus developing over the past four years in the midst of global strain and our own deleveraging. That, in my mind, would fit the bill as poor management of an economy. So you could argue running a deficit was a large part of what he did to fix the economy. I’m confused what else people feel should have been done? Again, legitimate question, not trying to argue.
I agree full heartedly, criticising Obama on this point is like criticisizing the fire department for all the water damage and repairs you have to do after they finish putting out an out of control blaze at your home.
Of course the deficit will explode and economy is going to suck shit for a few years, thats what happens following a financial crisis.
The question becomes was the water damage reasonable or imply negligence through careless behavior? It’s not binary, but rather a question of “How much water”
BTW are you Buddhist or just like the word?
