The facts are plain...the rich have gotten very very rich by historical standards...and the middle class has suffered...
The same thing happen in the 20's...which lead to the Great Depression...
WWII WAS THE GREAT RE-DISTRIBUTION OF WEALTH MACHINE...
In the 30's the same greedy elites were complaining about spending and deficits and New Deal welfare plans...
That's what caused the 1937 economic relapse of the Depression... Republicans' Budget Deficit Fever...30s style...
FORTUNATELY ... The World War II made complaining by the Republican elites...Unpatriotic...so that shut them up long enough for wealth to be rebalanced...as the New Deal wanted...SO CONSIDER WWII TO BE THE MOST SUCCESSFUL NEW DEAL WELFARE PROGRAM...!
THERE...DOES THAT HELP...?
We are in exactly that situation now... It could be more serious...because the US has lost its status as the factory floor of the world...China does that now...
SO THE MONEY PRINTING THAT "SOLVED" THE 30'S DEPRESSION...VIA WAR SPENDING...
MAY NOT WORK THIS TIME...
BUT THAT IS NOT WHAT CONSERVATIVES ARE SAYING...
They are still stuck in the DEFICIT MANIA bit of 1937...
Now if Conservatives want to say : Obama's plan won't work...BECAUSE WALL STREET LOOTED THE ECONOMY...AND THERE IS NOTHING HERE TO STIMULATE...ITS ALL IN CHINA NOW...
I'M OK WITH THAT... That is exactly how I think this thing will end...But if there is another "incarnation" of the US economy...a POST-INDUSTRIAL ECONOMY...hidden in the Keynesian Weeds... Then Obama could be right...
Most economists think there is something to stimulate...and that Keynesianism will work...eventually... And we see a bit of that in the current "good" numbers...which I would say is all money printing...ie an economy with "training wheels" still on...
...So that should be the debate...
NOT WHETHER OBAMA IS A SOCIALIST OR EVIL OR ANTI-AMERICAN...HE IS JUST FOLLOWING MODERN STANDARD ECONOMIC THEORY...
ITS REPUBLICANS WHO HAVE SOME EXPLAINING TO DO...
NONE OF THE REPUBLICANS' "AUSTERITY BRINGS RECOVERY" CRAP...IS EVEN WRITTEN UP AS SERIOUS ECONOMIC THEORY...ITS TOTALLY NON-ACADEMIC...IT COMES STRAIGHT OUT OF WALL STREET'S GREED MACHINE...NOW DESPERATE TO LOOT TO THE LAST DIME...So the choice is:
FOLLOW MODERN ECONOMIC THEORY AND HOPE IT WORKS EVENTUALLY...
OR FOLLOW REPUBLICAN BULLSHIT THEORY...AND HOPE FOR A MIRACLE
The same thing happen in the 20's...which lead to the Great Depression...
WWII WAS THE GREAT RE-DISTRIBUTION OF WEALTH MACHINE...
In the 30's the same greedy elites were complaining about spending and deficits and New Deal welfare plans...
That's what caused the 1937 economic relapse of the Depression... Republicans' Budget Deficit Fever...30s style...
FORTUNATELY ... The World War II made complaining by the Republican elites...Unpatriotic...so that shut them up long enough for wealth to be rebalanced...as the New Deal wanted...SO CONSIDER WWII TO BE THE MOST SUCCESSFUL NEW DEAL WELFARE PROGRAM...!
THERE...DOES THAT HELP...?
We are in exactly that situation now... It could be more serious...because the US has lost its status as the factory floor of the world...China does that now...
SO THE MONEY PRINTING THAT "SOLVED" THE 30'S DEPRESSION...VIA WAR SPENDING...
MAY NOT WORK THIS TIME...
BUT THAT IS NOT WHAT CONSERVATIVES ARE SAYING...
They are still stuck in the DEFICIT MANIA bit of 1937...
Now if Conservatives want to say : Obama's plan won't work...BECAUSE WALL STREET LOOTED THE ECONOMY...AND THERE IS NOTHING HERE TO STIMULATE...ITS ALL IN CHINA NOW...
I'M OK WITH THAT... That is exactly how I think this thing will end...But if there is another "incarnation" of the US economy...a POST-INDUSTRIAL ECONOMY...hidden in the Keynesian Weeds... Then Obama could be right...
Most economists think there is something to stimulate...and that Keynesianism will work...eventually... And we see a bit of that in the current "good" numbers...which I would say is all money printing...ie an economy with "training wheels" still on...
...So that should be the debate...
NOT WHETHER OBAMA IS A SOCIALIST OR EVIL OR ANTI-AMERICAN...HE IS JUST FOLLOWING MODERN STANDARD ECONOMIC THEORY...
ITS REPUBLICANS WHO HAVE SOME EXPLAINING TO DO...
NONE OF THE REPUBLICANS' "AUSTERITY BRINGS RECOVERY" CRAP...IS EVEN WRITTEN UP AS SERIOUS ECONOMIC THEORY...ITS TOTALLY NON-ACADEMIC...IT COMES STRAIGHT OUT OF WALL STREET'S GREED MACHINE...NOW DESPERATE TO LOOT TO THE LAST DIME...So the choice is:
FOLLOW MODERN ECONOMIC THEORY AND HOPE IT WORKS EVENTUALLY...
OR FOLLOW REPUBLICAN BULLSHIT THEORY...AND HOPE FOR A MIRACLE
