wfo3:
Do you people understand what the nature of the crisis is, and why just about all economists, left & right advocate more spending by the federal gvt.
I very well understand the nature of this crisis. It is a debt deflation crisis, which, unfortunately, can’t be solved by adding more debt, which will only turn it into a currency crisis at a later date.
If you want the dollar to go away and be folded in to some currency basket where your purchasing power is partially determined by what the governments in other countries do, please, go ahead and support the idiotic spending plans of Obama.
If, like me, you have the slightest clue how that would hurt the same “average Americans” that Obama and the rest of his lunatic followers say they want to help, you should oppose all of this additional debt-financed spending.
In other words, C3PO, you’re being fooled into thinking this is the worst possible crisis by people who are even as we speak laying the ground work for an even bigger (much, much bigger) crisis.
If leftists would get their heads out of their nether regions for long enough to crack open a history book, they’d realize that the current borrow our way out of the downturn approach is like cutting off your leg to cure a hangnail on your pinky toe. Sure, the hangnail’s gone, but now you have no leg.
And don’t even get me started on the composition of the borrowing in terms of fiscal multipliers. Obama’s politicized that debate so much that he’s got his own Christine Romer denying the accuracy of her earlier work showing that tax cuts are more stimulative of GDP than spending increases.
You people supporting Obama are fools. Your descendants will spit on your graves.
