6127 Dead, 1270 since 1/20/09
5/27/2012 5:51:00 PM
On Sun, 27 May 2012 12:13:18 -0500, Gary DW wrote:
> In article <slrnjs0131.5uq.badass.superman@badass.edu>, Rockinghorse
> Winner says...
>
>
>
>> * It may have been the liquor talking, but Gary DW
>> <Dw2spike3NOT@sio.midco.net> wrote:
>>
>> >> > Austerity has driven Spain, Italy, and Greece into recession.
>> >> > The Republican congress plan here, if enacted, will drive America
>> >> > into recession.
>> >> >
>> >> > Here's today's column by Professor Krugman on the subject:
>> >> >
>> >> > Egos and Immorality By PAUL KRUGMAN In the wake of a devastating
>> >> > financial crisis, President Obama has enacted some modest and
>> >> > obviously needed regulation; he has proposed closing a few
>> >> > outrageous tax loopholes; and he has suggested that Mitt Romney?s
>> >> > history of buying and selling companies, often firing workers and
>> >> > gutting their pensions along the way, doesn?t make him the right
>> >> > man to run America?s economy.
>> >>
>> >> [snip]
>> >>
>> >> Socialism is self-perpetuating. Once you convert to it, it makes it
>> >> very, very difficult to extract yourself. That is why austerity is
>> >> so painful for the socialist countries. However, our experiment with
>> >> socialism has only really been going full bore for a few years. It
>> >> is much easier for our country to reverse course than those in
>> >> Europe.
>> >
>> >
>> > I bet Rush or someone on Faux News taught you that.
>> >
>> > But lets pretend you came up with this on your own! Name ONE time in
>> > world history that austerity measures brought any coutry out of a
>> > recession.
>> >
>> > Just one.... we will be waiting.
>>
>> When Reagan took office, his administration kept a tight leash on the
>> money supply. Many of his critics screamed that it would cause a
>> deepening of the Carter recession. Interst rates rose to unheard of
>> levels. Mortgage rates were double digit. Once inflation started coming
>> down, the money supply was gradually loosened. However, it was that
>> first year of tight control of the money supply that led into the
>> greatest expansion of the economy since WWII.
>
>
>
> Reagan never used any austerity measures. Spending went up
> substantially.
>
>
> Its why his unemployment rate went down faster than Obama's. Reagan
> spent his way out of the recession (mostly on the military) you bumbling
> moron.
>
> Faux News or Rush never tells you this.
>
> Its why you are blissfully ignorant.
In fact, on an annualized basis, Obama's spending increases are the
LOWEST since Eisenhower. His first three years show 1.8% increase per
year; Reagan's was around 8%.
In fact, in seven of the eight budgets that Reagan submitted, Congress
actually CUT SPENDING. The right wing fantasy that Reagan was "small
government" but thwarted by an eeeevil Congress is just that--a fantasy.
As for the money supply, Reagan, like all presidents since 1934 had no
(none, zero, naught, zilch) say over money supply. That's entirely the
province of the Fed. That would have been Paul Volcker.
>
>
>
>> >> In addition, history has shown that in order for socialism to be
>> >> implemented on a large scale, concomitant intrusions on personal and
>> >> economic liberty are required. Our constitution is a bulwark against
>> >> such intrusions. Which means we have a firewall against socialism
>> >> that the other countries do not.
>> >>
>> >> Terry
>> >
>> >
>> > What does socialism have to do with austerity measures that are
>> > failing (and have ALWAYS failed) worldwide?
>>
>> Socialism makes austerity especially painful, because the economy
>> depends on the central government. When the government role in the
>> economy is lessened,
>> you have more tools which you can use without causing so much distress.
>> That is why socialism is so pernicious - it requires ever increasing
>> govt outlays to correct the imbalances caused by the previous spending.
>> It's a vicious circle.
>>
>>
And yet oddly, the better the social safety net a country has (what you
ignorati call "socialism") the better it has weathered the Great
Recession. Places like Greece and Spain are basket cases; Germany,
Sweden and Canada are all virtually untouched.
>>
>> >
>> > Cutting jobs helps end unemployment.
>> >
>> >
>> > Just ask a rightie!!
>>
>> Terry