There's the conservative world and then there's the real world...
Larry Summers testified that further austerity measures are not the right choice for the United States at this time: “First, it would not be desirable to undertake further measures to rapidly reduce deficits in the short run. Excessively rapid fiscal consolidation in an economy that is still constrained by lack of demand, and where space for monetary policy action is limited, risks slowing economic expansion at best and halting recovery at worst.”
Simon Johnson agreed that “a sudden move towards further tightening fiscal policy in the U.S. would undermine our economic recovery and has the potential to destabilize financial markets. We are currently moving in a precipitate manner towards an excessive and inappropriate degree of immediate austerity” and “It is far more important to get the economy back onto a sustainable growth path.”
“I have long believed that the case for austerity during times of economic weakness has been fundamentally flawed. When demand falls off in the private sector and millions of workers are losing their jobs—I think the last thing government should do is make things worse by slashing spending and causing aggregate demand to drop even further.”
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http://www.budget.senate.gov/democr...Group_id=d68d31c2-2e75-49fb-a03a-be915cb4550b
These are just normal statements from normal economists. Anyone in the academic world that has knowledge of economics understands what the Republicans are doing to the economy. To bad we can't be more like Reagan and spend like crazy!
Larry Summers testified that further austerity measures are not the right choice for the United States at this time: “First, it would not be desirable to undertake further measures to rapidly reduce deficits in the short run. Excessively rapid fiscal consolidation in an economy that is still constrained by lack of demand, and where space for monetary policy action is limited, risks slowing economic expansion at best and halting recovery at worst.”
Simon Johnson agreed that “a sudden move towards further tightening fiscal policy in the U.S. would undermine our economic recovery and has the potential to destabilize financial markets. We are currently moving in a precipitate manner towards an excessive and inappropriate degree of immediate austerity” and “It is far more important to get the economy back onto a sustainable growth path.”
“I have long believed that the case for austerity during times of economic weakness has been fundamentally flawed. When demand falls off in the private sector and millions of workers are losing their jobs—I think the last thing government should do is make things worse by slashing spending and causing aggregate demand to drop even further.”
---------------------------------------------
http://www.budget.senate.gov/democr...Group_id=d68d31c2-2e75-49fb-a03a-be915cb4550b
These are just normal statements from normal economists. Anyone in the academic world that has knowledge of economics understands what the Republicans are doing to the economy. To bad we can't be more like Reagan and spend like crazy!
fratfraud just isn't very bright...neither is Janet Yellen, Obama's Keynesian Fed Chairman...the type of academic Monopoly Money idiot fratfraud worships:
“For my own part,” Ms. Yellen said, “I did not see and did not appreciate what the risks were with securitization, the credit ratings agencies, the shadow banking system, the S.I.V.’s — I didn’t see any of that coming until it happened.”
So if she didn't see the last crisis coming, will she see the next one?
Answer: Captain Obvious to the rescue!
Dumb bitch.
“For my own part,” Ms. Yellen said, “I did not see and did not appreciate what the risks were with securitization, the credit ratings agencies, the shadow banking system, the S.I.V.’s — I didn’t see any of that coming until it happened.”
So if she didn't see the last crisis coming, will she see the next one?
Answer: Captain Obvious to the rescue!
Dumb bitch.
I've always enjoyed this from Larry Summers:
What Causes Long-Term Unemployment?
To fully understand unemployment, we must consider the causes of recorded long-term unemployment. Empirical evidence shows that two causes are welfare payments and unemployment insurance. These government assistance programs contribute to long-term unemployment in two ways.
Nancy Pelosi, call your office!
What Causes Long-Term Unemployment?
To fully understand unemployment, we must consider the causes of recorded long-term unemployment. Empirical evidence shows that two causes are welfare payments and unemployment insurance. These government assistance programs contribute to long-term unemployment in two ways.
Nancy Pelosi, call your office!
You are just entertaining. It's hilarious watching someone who thinks they know what they are talking about looking like an idiot. And what's crazy is this is all low level economic stuff that you can't comprehend. We haven't even come close to talk about real world monetary and fiscal policy. That's how dumb you guys are.
