Ron Paul: Stimulus Packages Will Turn Recession Into A Depression

[Naked Gents Rut]

No. Check the figures.

OK.

1989 - 534
1988 - 470

http://www2.fdic.gov/hsob/HSOBSummaryRpt.asp?BegYear=2009&EndYear=1934&State=1

Now I might be mistaken, but I think 534 + 470 is greater than 1000...

There's also only been 31 bank failures from 2007 to the present.

[Agathon]

No. Check the figures.

OK.

1989 - 534
1988 - 470

http://www2.fdic.gov/hsob/HSOBSummaryRpt.asp?BegYear=2009&EndYear=1934&State=1

Now I might be mistaken, but I think 534 + 470 is greater than 1000...

There's also only been 31 bank failures from 2007 to the present.

I had a different document, but from the same site. Go figure, eh? They can't even get it consistent.

[Arrian]

Honestly, who cares about the pork? This stimulus could be completely pork-free () and it would still be a bad idea.

At least Drake's honest about it.

I disagree, but hey, I could be wrong. I appreciate the fact that he doesn't pretend that his objection has to do with this or that detail, but rather with the entire concept of a fiscal stimulus.

-Arrian

[Naked Gents Rut]

You comprehend other people's arguments about as well as your boy Obama. I've said several times that I'm against this particular stimulus, not the entire concept of a fiscal stimulus. I even laid out a rough outline of a smaller alternative stimulus plan.

[DinoDoc]

I disagree, but hey, I could be wrong. I appreciate the fact that he doesn't pretend that his objection has to do with this or that detail, but rather with the entire concept of a fiscal stimulus.

Confirmation bias refers to a type of selective thinking whereby one tends to notice and to look for what confirms one's beliefs, and to ignore, not look for, or undervalue the relevance of what contradicts one's beliefs.

http://skepdic.com/confirmbias.html

That seems to be the most accurate of your posting style atm. It's rather irritating given the fact it lacks any basis in realiy given the facts.

[Victor Galis]

The crisis is not a strictly American phenomena.

No, but the majority of high-profile financial institution failures have been. How can you claim that the world's largest financial institutions have been "brought to their knees"? The only way you can defend that conclusion is by ignoring Asia and large swathes of Europe...

http://en.wikipedia.org/wiki/List_of_acquired_or_bankrupt_banks_in_the_late_2000s_financial_crisis

Are you ignoring that the Icelandic government was toppled by the current crisis, along with all three of their banks? Several other major European banks were bailed out.

Where are their bank failures? And you should really read more about Japan, Germany, France, Italy...

http://blogs.ft.com/maverecon/

See the bits about the Banca d'Italia.

You do know that over a thousand U.S. banks failed in 1988 and 1989 due to the S&L Crisis, right? No depression after that...

And we did absolutely nothing then? You seem to claim this is no worse than other recessions and so we shouldn't do anything, when we clearly did something in all the other recessions as well.

There's also only been 31 bank failures from 2007 to the present.

Yeah, but can you really compare entities like WaMu with your local bank that served one neighborhood?

[Victor Galis]

Confirmation bias refers to a type of selective thinking whereby one tends to notice and to look for what confirms one's beliefs, and to ignore, not look for, or undervalue the relevance of what contradicts one's beliefs.

http://skepdic.com/confirmbias.html

That seems to be the most accurate of your posting style atm. It's rather irritating given the fact it lacks any basis in realiy given the facts.

Of course right wingers are totally immune to this sort of bias .

[Velociryx]

[QUOTE=DinoDoc;5528949]Confirmation bias refers to a type of selective thinking whereby one tends to notice and to look for what confirms one's beliefs, and to ignore, not look for, or undervalue the relevance of what contradicts one's beliefs.

http://skepdic.com/confirmbias.html

Well....I'd say that sums up the posting style of about 90% of the posters on 'poly (you included), so no need to single Arrian out.

-=Vel=-

[Velociryx]

And of course they are, Victor...that's why they frequently quote such respectable, non-biased sources as FOX news and FreeRepublic.

:eyeroll:

-=Vel=-

[DinoDoc]

Of course right wingers are totally immune to this sort of bias .

You're making the same mistake as Arrian by failing to deal with what is said and instead retreating to your own preconcieved notions about what is said. Read what I said again and you might not see those words there.

[Velociryx]

But don't worry...if the stimulous package doesn't work....if it doesn't provide the number of promised jobs in 2-3 weeks (and why not? Most presidents get a hundred days, but not Obama...too funny!), so yeah...if he can't bend the heavens and create millions of jobs in VERY short order, the conservatives will swear on a stack of bibles it's the fault of those damned dems, even tho Rush very nearly got his wish as far as the % breakdown of the senate version of the bill.

That's why reading these types of threads are so endlessly entertaining.

-=Vel=-

[Victor Galis]

You're making the same mistake as Arrian by failing to deal with what is said and instead retreating to your own preconcieved notions about what is said. Read what I said again and you might not see those words there.

Of course not, they're implied when you single out one poster.

But don't worry...if the stimulous package doesn't work....if it doesn't provide the number of promised jobs in 2-3 weeks (and why not? Most presidents get a hundred days, but not Obama...too funny!), so yeah...if he can't bend the heavens and create millions of jobs in VERY short order, the conservatives will swear on a stack of bibles it's the fault of those damned dems, even tho Rush very nearly got his wish as far as the % breakdown of the senate version of the bill.

Of course it's his fault, he should have dropped that post-partisanship thing on election day and run roughshod over the remaining Republicans.

[Velociryx]

Of course not, they're implied when you single out one poster.



Of course it's his fault, he should have dropped that post-partisanship thing on election day and run roughshod over the remaining Republicans.

Yes, but I meant Repugs everywhere...not just those in politics. Watch 'poly closely. If those jobs aren't created en masse in under a month, you'll virtual see lynching parties formed.

-=Vel=-

[Felch]

It means inflation. Creditors will lose some money. In the vast scheme of things, that isn't a big deal.

I agree that in the vast scheme of things, it's not a big deal. However, punishing people who behaved well with their money while rewarding those who were reckless and speculative, is decidedly unjust. That's a concern that I have with inflation in general, and inflation as policy in particular.

[DinoDoc]

Of course not, they're implied when you single out one poster.

I refuse to be responsible for the interpretations you come to when you read words that aren't there.