Wow Things Are Much Worse Than I Thought!

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jcschild
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RE: Wow Things Are Much Worse Than I Thought! 2009/02/10 10:06:43 (permalink)

ORIGINAL: Cheeto


ORIGINAL: jcschild

1) war is GOOD for the economy.


While there are many good points are made in this thread, I really can't fathom the validity in a statement like this.

Just who exactly foots the bill for this mess??? You, I, and everyone else here in America.


historical fact!

most notably would be WWII still reeling from the depression WWII created huge amount of jobs and large contracts for many companies large and small.
America financially was in great shape after the war and it continued until the 80's with minor bumps.

unfortunately the gears of war grease fewer hands today than back then, and more of the wrong hands.




























Scott
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#31
keith
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RE: Wow Things Are Much Worse Than I Thought! 2009/02/10 10:37:32 (permalink)

ORIGINAL: wilson_inc
750 billion bail out to banks from bush


$750B is the "publicly digestible" figure that the news outlets kept harping on... by the end of '08 the total bailout cost was in the trillions.

The bailout cost currently (including Obama's stimulus plan) is upwards of $10 trillion. That's "trillion", with a "t".

http://www.bloomberg.com/apps/news?pid=washingtonstory&sid=aGq2B3XeGKok

NOTE: that $10 trillion has nothing to do with the other $10 trillion figure floating around, which is the current gross national debt of the US.

So if you want to look at the big picture, US tax payers are currently in the hole $20 trillion.
#32
AT
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RE: Wow Things Are Much Worse Than I Thought! 2009/02/10 10:59:52 (permalink)
An interesting phenomenon is to put an obscuring number of jellybeans into a jar and let however many of us idiots guess at the number. The average number guessed by us average joes is likely to be closer to the actual number of jellybeans than any single guess, and guarenteed to be closer than the smartest guy's in the room. That is the not so secret of free will, free enterprise and democracy. However, the counting itself can be messy.

If you live long enough and/or read fast enough you'll find that most of what has happened has already happened somewheres along the line. And most problems are self-correcting. Take our economic crisis. It seems like the worst since the black death as pronounced by those that think they know. Yet most of those are the same ones that got us into the current mess. Last year the deficit was $500B. This year just on straight appropriations we are going to be higher than that - $600-700B. Add TARP for the banks - $700B. That is $1.4T or about 10% of the US GDP. But wait, there's more. They won't spend all $800+B this year of the stimulus (or next, which begs the question of how it is stimulating if you ain't spending it until after the traditional legnth of a recession is over), but discretionary spending is doubling to $700B, so add another $350B. So that is over 10% GDP. Next year it will be close to the same because of discretionary spending plus the interest on that 1.7T

PUmping out that much money means your GDP is diluted by 20% over the next two years and that means inflation, even if we borrow it from the Chinese (and they look to have enough of their own problems). So welcome back to the 70s and the era of Jimmy Carter. Of course, this is just one man's opinion, but I wager my guess is as good as the experts.

have a nice day!

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#33
Kicker
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RE: Wow Things Are Much Worse Than I Thought! 2009/02/10 22:15:13 (permalink)
War, a.k.a. accelerated defense spending is probably the only type of spending that our government is really good at. Think of it as a narrowly targeted stimulus.
#34
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