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The part about people saving their stimulus checks makes me wonder if that was really such a bad thing even if it was unintended. Everyone's saying we need more spending right now but while I think we need more government spending I think we also need more personal saving. So many people are saving little or nothing and in some cases spending more than they have. That can't be good even if it increases GDP.
posted by
Dyl_Pickle
on February 1, 2009 at 9:19 AM
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Agree with you. The problem is government spending invariably results in heavy leakages and by the time it is fully spent one finds that a large chunk is spent on unproductive assets.
posted by
hardilaziz
on January 31, 2009 at 9:40 PM
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Re:
I might go for that one. But I'd worry about inflation. I worry about that anyway, with such huge deficits and the easy money from the Fed. I hope the economists can find at least good solutions, even if they are never quite clear to me.
posted by
mousehop
on January 31, 2009 at 1:33 PM
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Re: mousehop
A very clear illustration. And even while the politicians of all stripes believe we're in a crisis, each wants to find maximum benefit for her agenda in devising a plan to try to get us through it. I hope Congress can get past the partisan bickering, and find the best approach.
posted by
mousehop
on January 31, 2009 at 1:31 PM
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Re: I have two macroeconmists in the family, one teaches it and the
It is disturbing to see the problems in the financial industry, and seems unfair that the executives should benefit from the bailout. I wish there were a way around that.
So, um, you know someone who runs a country? Wow.
posted by
mousehop
on January 31, 2009 at 1:28 PM
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Re:
I don't know what the president can do, but I don't much like all these huge bonuses. Especially because I don't get one.
posted by
mousehop
on January 31, 2009 at 1:25 PM
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An interesting post. I have wanted to post on this topic as well, but I'm not far enough along getting my arms around the issues to post yet. I can tell you I'm appalled at the bonuses on Wall St. Someone also made a comment or statement somewhere that instead of doing all these bailouts, why don't you just give each person, say $50,000 or whatever and let them go spend it, reviving the economy. I wish the answers were clear.
posted by
BetsyLewis
on January 31, 2009 at 6:48 AM
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mousehop
Politicians cast themselves as the heroes from old westerns. Each wears the white hat, sits proudly in the saddle, and gives the bad guys in the black hats (those of the opposing political party) their just desserts. This concept worked in the movies because the bad guys knew they were bad and voluntarily wore the black hats. In the real world, this doesn't happen. What happens when everyone wears a white hat and proclaims the other guy is the villain? We end up with the ugly partisan politics we have now.
posted by
Talion_
on January 30, 2009 at 9:22 PM
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I have two macroeconmists in the family, one teaches it and the
other used it to run a country.......neither saw this capitalist crime approaching, or they saw it as so many did and condoned it using their own personal condoning vocabularies.
I am feeling very Workers Unite against the Elite this year. I want the financial leaders in prison now and I want rules made about just how much financial leaders can play with lowly workers' monies and savings. I don't want to hand the criminals more lowly workers' monies while they run free.
posted by
benzinha
on January 30, 2009 at 10:06 AM
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Todays NY Times cover story discussed the large bonuses that Wall St. dolled out at the end of 2008, just as so many of those companies were crying Bankrupcy and Poverty to the Feds. Obama gave them a shake of the head and a wagging finger - and I hope does more to disuade this kind of selfishness. My husband is in the financial industry and would never dream of asking taxpayers to pay his employees! Shameful. This is the "bad" side of economic stimulus, though I do agree with you that something has to be done to put people back to work and start circulating $$ back into the economy. Mal
posted by
gapcohen
on January 30, 2009 at 8:52 AM
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