Ron Paul: Stimulus Packages Will Turn Recession Into A Depression

[Felch]

People really don't know what to expect right now. Look at all the different expections of people posting in this thread.

The aggregate of everybody's expectations is often pretty accurate.

I know it sounds like a that old story about asking a million people the length of the emperor's nose, but it's different. Everybody is looking at the same situation from different angles, and so we all have different views. But in the aggregate, it's likely that we have a pretty good understanding.

[Victor Galis]

The bill is actually over 700 pages long. It includes lots of spending the Democrats have been trying for over the past 5 - 8 years. The stimulus part is rather pathetic but very real. The nation would have been better off if they issued $ 2,500 dollars to every man, woman, and child in this country legally. That would have left enough money from this bill to pay for the transport stuff. No long-term promises at all.

I fail to see how that would work. Unless they can force people to spend said money, that would do nothing but transfer some debt from citizens to the government.

The aggregate of everybody's expectations is often pretty accurate.

Except when it's not... Look at the current crisis. Most people didn't see it coming although it really wasn't that difficult to spot.

I know it sounds like a that old story about asking a million people the length of the emperor's nose, but it's different. Everybody is looking at the same situation from different angles, and so we all have different views. But in the aggregate, it's likely that we have a pretty good understanding.

Unless we're mostly irrational in certain ways. Alternatively, you can see that most people will defer to "experts'" opinions when they feel they don't really understand something, causing the average person's expectation to actually be based on a rather small group of people.

[Barnabas]

What they (state) are doing in Argentina is giving cheap credits to buy new refrigerators, washing machines, water heating machines, but you have to give your old one. It is an exchange.

[VetLegion]

Does Argentina produce domestically any of those appliances?

[Arrian]

I just wanted to bring up something DanS brought up in another thread. We have to remember that after this recession is over, it is just as important to slash spending as some believe it is to increase it now.

Agreed... though I would be careful about "slashing." A slow & steady reduction is more like it.

That is why it is extremely important to avoid including things in the stimulus package that in effect require perpetual funding in the future, which accounts for must of the program spending many are objecting to (especially if a year of two of it leads to people feeling entitled).

Ok, fair point.

-Arrian

[Darius871]

Yeah, I had to look him up, because I have no reason to care about him, as I did not study the dismal science.

That I did not know who Barro was doesn't change your track record of being wrong when it comes to the big issues facing the country.

How frustrating it must be for you that the dismal science and the big issues facing the country are perpetually intertwined.

[The Mad Monk]

The bill is actually over 700 pages long. It includes lots of spending the Democrats have been trying for over the past 5 - 8 years. The stimulus part is rather pathetic but very real. The nation would have been better off if they issued $ 2,500 dollars to every man, woman, and child in this country legally. That would have left enough money from this bill to pay for the transport stuff. No long-term promises at all.

"Never waste a serious crisis."
—Rahm Emanuel

http://www.ontarioplanners.on.ca/content/journal/OPjournal.asp?fn=print&id=1238&lang=English

[Arrian]

Rahm, talking like a Republican circa 2001.

By the way, didn't the Republicans put up a proposal of their own that was entirely tax cuts?

-Arrian

[snoopy369]

Let's just hand out money on the streets. Heck, do it at the mall. Hand out a roll of $20s to anyone who walks up (but please only take one, thank you). That way they spend it right away

[Barnabas]

Does Argentina produce domestically any of those appliances?

Yes. Brazil, Mexico and Argentina are the only considerably industrialized latin american countries (that does not encessarily mean most developed)

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

[Barnabas]

What will Obama do with the car industry? Will the workers finally accept a salary cut?

[DinoDoc]

By the way, didn't the Republicans put up a proposal of their own ...

a plan that would create 6.2 million new jobs by the end of 2010, according to a methodology used by President Obama’s own nominee as Chair of the White House Council of Economic Advisors, Dr. Christina Romer and one that wouldn't cost as much.

http://republicanleader.house.gov/News/DocumentPrint.aspx?DocumentID=109688

[HalfLotus]

People still don't get why it's bad for a government to spend money it doesn't have. And especially when the central bank of said government controls the value of the world's reserve currency.

[DanS]

This bill is one big mass of bloat and I wonder what the rationale is for all of the ridiculousness.

I wasn't too concerned when it appeared like we were going to be doing a modest amount of infrastructure stuff. It wouldn't hurt to spruce up the place and it would have helped the construction industry, which was particularly hard-hit with the housing implosion. But the bill doesn't include much of that stuff. Rather, we have things like huge amounts of pork for the IT industry, which doesn't really need the help right now. And then we have all sorts of health care spending, which puts us on the hook over the long term for massive additional outlays.

It doesn't appear that this bill was well thought out.

[TCO]

People really don't know what to expect right now. Look at all the different expections of people posting in this thread.

I'm not sure how the software took you off ignore, but you're a fukking moron who should have been killed at birth. You are going back on. And I hope you die. Fast.