Doc Posted September 7, 2011 Share Posted September 7, 2011 More importantly though, "Whatamilf?" Link to comment Share on other sites More sharing options...
3rdnlng Posted September 7, 2011 Share Posted September 7, 2011 More importantly though, "Whatamilf?" I questioned that too. Yuck! Link to comment Share on other sites More sharing options...
IDBillzFan Posted September 7, 2011 Share Posted September 7, 2011 (edited) This entire narrative is stupid. The stimulus failed not based on anything other than it never met the criteria set by the very party that is now trying to say it didn't fail. You need look no further than (1) it never kept unemployment under 8% as promised, and (2) Obama admitting it failed because shovel-ready wasn't as shovel-ready as he thought. Period. Edited September 7, 2011 by LABillzFan Link to comment Share on other sites More sharing options...
OCinBuffalo Posted September 7, 2011 Share Posted September 7, 2011 That's what happens when you put people in charge who learned equilibrium models only, and who have no idea what to do when hit with a debt-deflation crisis. While Paulson, Bernanke and Geithner focused on resolving the problems from over-leveraged finance, they did very little (if anything) to resolve the problems from over-leveraged households. You're conveniently leaving out the Harvard and Berkley professors whose stated objective was to deal with the economy on the whole. Paulson was a Bush guy, and he only worked on TARP. Bernanke was simply reacting monetarily to what was happening fiscally, and the only one of these three who is still around on that side is Geithner, but Christina Romer, etc are the real culprits here. What did they do? They funneled 80% of the money into non-multiplier things...like giving money to states for the "Fireman, Teachers, and Police", all of which was not Stimulative. This notion of infrastructure is nothing more than: pay off the unions, both public and private, by not only propping up the broken system they have negotiated/elected people into, but also trying to expand it. There was no money, other than stimulus money, that could have propped it up. Then, when the money ran out, the states were left with real trouble = 2010 elections = the ass fell out of the thing anyway. All the stimulus did was delay the inevitable. It was giant waste of money, and it was politically foolish. When I say: they are not Keynesians, they are socialists-->expanding the public sector in a recession as a "solution", that's what I mean. This is getting to the point where it's no longer a theory, it is rapidly becoming historical fact. Link to comment Share on other sites More sharing options...
TPS Posted September 7, 2011 Share Posted September 7, 2011 This entire narrative is stupid. The stimulus failed not based on anything other than it never met the criteria set by the very party that is now trying to say it didn't fail. You need look no further than (1) it never kept unemployment under 8% as promised, and (2) Obama admitting it failed because shovel-ready wasn't as shovel-ready as he thought. Period. NO quarrel that it didn't meet the originators goals (yes, ms romer was a homer). If that's how you judge it, ok. It did have a positive impact in the ways I mentioned. Was there a better alternative? Yes. Link to comment Share on other sites More sharing options...
IDBillzFan Posted September 7, 2011 Share Posted September 7, 2011 NO quarrel that it didn't meet the originators goals (yes, ms romer was a homer). If that's how you judge it, ok. It's not how I judged it...it's how THEY judged it. Which is why I say this topic is stupid. Wasserman Shultz is a moron for even SUGGESTING that it worked. It would be different if Romer stood up and said "If we pass this bill, we'll invest in shovel-ready jobs that aren't really shovel-ready. And we'll spend millions more dollars on important things like replacing windows at a US Forest Service Visitor Center that was closed in 2007. And sending scientists to East Africa to study exotic ants because 'we need to listen to them.' Plus, when we're done, it'll help lift the unemployment rate above 10%!" If she said that, then yes, I would say it worked. Link to comment Share on other sites More sharing options...
Nanker Posted September 7, 2011 Share Posted September 7, 2011 Isn't Wasserman the test for syphilis? Link to comment Share on other sites More sharing options...
Recommended Posts