Politics

Politics

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    Votes: 172 48.9%

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    Votes: 130 36.9%
  • Total voters
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Black Irish

Black Irish

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chicago51 said:
This article was sent to me from one of the many political activist I follow on twitter:

Cutting Spending Won't Fix Economy - Business Insider

Okay so you recall when the US economy crashed the European and UK economies crashed around the same time. Now the United States did the stimulus and the UK did austerity. Now the US may not be were it needs to be but it is in better shape than the UK.

Just throwing more of evidence out there for the haters.
Click to expand...

Our economy was also in better shape than most of Europe's before the economic crisis. We didn't start from the same place as they did so it's very unlikely that we'd end up at the same place no matter what we did in response to the crisis.
 
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Polish Leppy 22 said:
Guys like Krugman who spend their entire careers in academica writing their "theories", to me, carry very little weight in my opinion. None of his theories were implemented into a private sector business/ company, no one ever hired him to produce a good or service, or act as an "economic consultant" for their company. It's all theoretical, and that's why he won a Nobel Prize. I'm not saying he's 100% right or 100% wrong, could go either way depending on the topic, but let's take a step back and think about this.

All kidding aside, your local pizza shop owner knows more about economics than Paul Krugman because he lives it every day. He may not have the prestigious awards, a dissertation, and a bunch of letters behind his name, but he's got a hell of a lot more to show for his work and labor than "theory."
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Come on. So you ready to throw out the theories of the Chicago and Austrian Schools of economics as well because they were developed by egghead academics and not Joe the plumber? I know plenty of people who do or did not understand their own business sector and went broke or are in the process of going broke. Now Im not saying that we shouldn't listen to small business owners or that academics don't suffer from a bit of a disconnect due to being focused on things in the abstract but dismissing someone like Krugman out of spite is ridiculous.
 
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chicago51

chicago51

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Black Irish said:
Our economy was also in better shape than most of Europe's before the economic crisis. We didn't start from the same place as they did so it's very unlikely that we'd end up at the same place no matter what we did in response to the crisis.
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The numbers are relative to each country. It is comparing US before and US after; UK before and UK after. It is not comparing the UK to the United States.

This illustrates though how the progressives present evidence to why they are right. Conservatives make some excuse why they are wrong yet never present any evidence why austerity works.

I heard Polish Leppy talk about Reagan getting the country out of recession. Reagan did not use austerity. He spent a ton raised taxes on working families and dropped rich people's taxes a ton. He had the advantage of a very low deficit when he took over. You can credit Reagan if you guys want but the man did not use austerity.

Austerity does not work.
 
DSully1995

DSully1995

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chicago51 said:
The numbers are relative to each country. It is comparing US before and US after; UK before and UK after. It is not comparing the UK to the United States.

This illustrates though how the progressives present evidence to why they are right. Conservatives make some excuse why they are wrong yet never present any evidence why austerity works.

I heard Polish Leppy talk about Reagan getting the country out of recession. Reagan did not use austerity. He spent a ton raised taxes on working families and dropped rich people's taxes a ton. He had the advantage of a very low deficit when he took over. You can credit Reagan if you guys want but the man did not use austerity.

Austerity does not work.
Click to expand...

Its funny cuz Krugmann worked in the regan administration.
 
Downinthebend

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chicago51 said:
The numbers are relative to each country. It is comparing US before and US after; UK before and UK after. It is not comparing the UK to the United States.

This illustrates though how the progressives present evidence to why they are right. Conservatives make some excuse why they are wrong yet never present any evidence why austerity works.

I heard Polish Leppy talk about Reagan getting the country out of recession. Reagan did not use austerity. He spent a ton raised taxes on working families and dropped rich people's taxes a ton. He had the advantage of a very low deficit when he took over. You can credit Reagan if you guys want but the man did not use austerity.

Austerity does not work.
Click to expand...

Who is advocating austerity?
 
chicago51

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OutintheBend said:
Who is advocating austerity?
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The Republican party. The sequester is austerity. The Ryan budget and the draconian cuts that we still don't what the specific cuts are is austerity on steroids.

Slash and burn spending is austerity.
 
chicago51

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Bluto said:
The GOP and Obama now apparently.
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Obama does want the American Jobs Act to be included in his deficit reduction plan but yes his plan is essentially a tri-hybrid of austerity, tax reform, and stimulus.

I am conflicted because I know people personally that are going to have their hours cut by the sequester but I also don't believe slashing the social insurance was what this last election was about. I am tempted to say the heck with it we don't want a deal Mr. President and we will just ride out the sequester till the 2014 midterms but then again if we do that real Americans will lose their jobs. So again I am conflicted.
 
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chicago51 said:
Jeb Bush lies about Obama.

Jeb Covers Up The Family Legacy of Economic Destruction With a Bushel of Obama Lies
Click to expand...

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Polish Leppy 22

Polish Leppy 22

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GoIrish41 said:
Guys like Krugman are sought out by print and television media outlets on a regular basis to provide context to discussions about economics. People care about what he thinks because his opinion matters. He didn't win a pie eating contest, he won the feankin Nobel Prize for Economics. The fact that he spends his career in academics studying economics makes him uniquely qualified to comment on the state of our economy. The fact that Tony at Pizza Town owns a business has limited real-world application to macroeconomics and I suspect if you asked him about it he would agree with me. Krugman's "theories" carry very little weight with you because you don't agree with what he is saying. If he promoted the genius of the Laffer curve, advocated for lowering everyone's tax rate to 1% and said that the economy would be humming along if only we would get rid of Medicare and Social Security, you would be singing his praises.
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And if someone introduced you to 5 economists who won similar awards and had opinions opposite of your economic genius Krugman, you'd dismiss them because they don't work at Princeton or write columns for the new york times.
 
irishpat183

irishpat183

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And anyone that cites blogger Krugman and claims his Nobel prize is a kool aid drinking fool.

Paul "we need a bubble" "Enron insider" Krugman himself. ****ing crook
 
chicago51

chicago51

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irishpat183 said:
Sorry...ZERO credibility.
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So what are you saying? That Elizabeth Warren is not trying to get tough with the banks as a member of the Senate banking committee?

Do you know anything about Elizabeth Warren what so ever?

Republicans should take a page out of the past from the days of Teddy Roosevelt back when the Republican party was the liberal party in this country. TR broke up the big banks and other monopolies and oligarchies.
 
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irishpat183

irishpat183

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chicago51 said:
So what are you saying? That Elizabeth Warren is not trying to get tough with the banks as a member of the Senate banking committee?

Do you know anything about Elizabeth Warren what so ever?

Republicans should take a page out of the past from the days of Teddy Roosevelt back when the Republican party was the liberal party in this country. TR broke up the big banks and other monopolies and oligarchies.
Click to expand...

You mean the minority Elizabeth Warren? Or the lying white lady, Elizabeth Warren?


Which one?
 
Black Irish

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chicago51 said:
The numbers are relative to each country. It is comparing US before and US after; UK before and UK after. It is not comparing the UK to the United States.

This illustrates though how the progressives present evidence to why they are right. Conservatives make some excuse why they are wrong yet never present any evidence why austerity works.

I heard Polish Leppy talk about Reagan getting the country out of recession. Reagan did not use austerity. He spent a ton raised taxes on working families and dropped rich people's taxes a ton. He had the advantage of a very low deficit when he took over. You can credit Reagan if you guys want but the man did not use austerity.

Austerity does not work.
Click to expand...

Does that mean Reaganomics works?
 
Black Irish

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chicago51 said:
"50% of all capital gains go not to the richest 1% of Americans, but to richest 0.1%, according to The Wash.Post."
Click to expand...

That does not negate my point. Not all stock shares are owned by the rich 1%. Plenty of non-wealthy people benefit from a robust stock market. Have you ever heard "a rising tide lifts all ships?"
 
Black Irish

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chicago51

chicago51

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Black Irish said:
Does that mean Reaganomics works?
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I can't sleep so I'll answer.

Before we cut the Kennedy tax rates we never had a deficit problem.

Things were not horrible under Reagan but got worse as time went on. Reagan love him or hate him was a transcendent politician that pushed the country right so many policies outlasted him.

He and every president since have not enforced the antitrust act which led to the rise of the too big to fail.

Reagan's cutting of infrastructure and education have really hurt the country. College tuition was 20 percent of the cost in 1980 while gov funding at public colleges was the other 80 percent now it is reversed essentially.

I would like to point out today's GOP would find Reagan insane for the following reasons:
1 wanting an assault weapons ban
2 wanting capital gains taxes to be the same rates as income tax
3 saying social security should not be cut because it was not a cause of the deficit
 
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