Speaking of scare tactics... http://www.scsuscholars.com/2009/01/obama-fiscal-policy.html
Rahm Emanuel noted that the new administration didn't want to waste a crisis, that they could pass things in crisis mode that wouldn't get past Congress in normal times. The speech tries to elevate a normal recession into a crisis. In doing so it risks imposing a solution to a problem that doesn't exist anymore when fiscal policy works through its lags. As John notes in that article, Bruce Bartlett has argued that passage of fiscal policy legislation has been a pretty good predictor of the end of recessions. Could it happen this time? The last two big recessions lasted about 16 months. If the recession started in December 2007, that puts you at April this year. Not sayin', just sayin'... On Thu, Jan 8, 2009 at 3:24 PM, Gruss Gott <[email protected]> wrote: > I'm saying that 70% of our economy is consumer spending based and that > needs to be replaced by someone or something. At the same time we > need to fix our broken financial system as well as put regulation in > place to stop the peaks and valleys because the public won't tolerate > them. > > The Chicago School is dead. > > Supply-side is dead. > > Laissez-faire is dead. > > As for Sam's point about Bush's "scare" it's not even close to over. > We're barely through phase 1 and phase 2 is coming and it'll be 50% > larger. And this time not only will it be larger but the world > economy will be weaker and China won't help us. > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:284262 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
