A Tale of Two Economic Policies: Obama vs. Walker Edition

[cieldumort]

Walker's Trickle Down Austerity vs. Obama's Restrained Keyensianism

Comments

[nebris]

I'm waiting for that jackass austerity pimp who commented on the last post to come by and tell us all to suck it up.

~M~

[sinistertim101]

How lovely :-)

I replied already if you care to read. I should include some links from Peter Schiff. He was the only one who saw the recession before it happened and was mocked on Fox news for it.

Take a look

He was right and predicts the depression to continue its crash that was merely delayed due to high debt. You can't consume if you owe money.

[nebris]

"of course liquidating civil society and driving down the living standards of your citizenry will not return an economy to growth; any idiot can see that." http://the-recession.livejournal.com/900792.html

[sinistertim101]

There is no growth when debt is huge and everyone from the citizens who owe too much to consume, to banks who can't lend because they are waiting for bonds to mature.

The solution is a recession as people pay it back. Then banks lend again and all is good.

You are only looking at the immediate short term

[sinistertim101]

Austerity is the only way to recover long term.

If everyone defaults the banks go out of business and it wont matter if there is high consumer demand as businesses will still go under waiting to get paid as lines of credit freeze up. You can't keep your shelves filled without paying and then skimming the top margins after the products are sold.

Austerity will reduce demand short term but give plenty of capital left to banks and 401ks. They will in return lend to small business and us instead of government bonds.

That is good for economic growth.

Re: You are only looking at the immediate short term

[brittdreams]

What? Why do you think the banks will go under? People already defaulted and the banks were given a bailout by the governments of the world to prevent them from going under.

Also, can you explain what you mean by short-term? And perhaps explain how this will affect the regular folks that are already struggling to survive? Because I'm not sure I give a damn how much capital is left in someone else's 401K (I don't have one so there can't be any in mine) when I barely have enough money to put healthy food on the table.

Re: You are only looking at the immediate short term

[nebris]

He's either a Libertarian jackoff who's ideologically [aka theologically] committed to this line or an actual 'austerity pimp' who's paying job it is to push this bullshit across the various blogs and comment threads.

~M~