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Last post 20 years ago by dbguru. 24 replies replies.
Deficits are not a good thing
uncleb Offline
#1 Posted:
Joined: 11-13-2002
Posts: 1,326
http://www.usatoday.com/money/economy/2004-05-06-greenspan_x.htm
coda Offline
#2 Posted:
Joined: 07-27-2003
Posts: 623
My guess is that Greenspan is not relying on Social Security for HIS retirement.
Robby Offline
#3 Posted:
Joined: 10-30-2002
Posts: 5,067
uncleb, if deficits are not a good thing, why did a democrat controlled House and Senate run them for so many decades?
Thom Offline
#4 Posted:
Joined: 12-08-2003
Posts: 6,117
Wednesday, May 05, 2004, 4:41:00 PM EST

Who Ya Gonna Blame?

Author: Jim Sinclair

The Financial Times yesterday ran an article that has received significant attention and might well influence the thinking of the unwary. In the spirit of Rumor Control then please consider the following:



“Don’t Blame the Deficits for America’s Rate Hikes

The US Federal Reserve is expected to hint more strongly at the interest rate rises in its post-meeting statement today. With the growing likelihood of higher US interest rates ahead of November election, one of the surest calls in economics is that the twin deficits in budget and trade will be blamed.

Before that happens, it is worth taking a reality check. The much needed increase in interest rates when it comes will have little to do with deficits.

The primary factors will be the strong economy, job growth, the weaker dollar and rising inflation.”

Jim Sinclair’s Commentary:

Where in the world do you think the “strong economy” came from? Where in world do you think the modest job growth has come from? What do you think caused the lower dollar? What do you think has given rise to inflation? The triple deficits of US Budget, Current Account and Trade brought on by poor management are the cause of the economic recovery.

The US is on a war footing while implementing major tax reductions and monetary easing of historical proportions. The cost of this present economic situation is clearly on the backs of future generations. This article places the cart in front of the horse in a world class fashion.

This is the type of thinking that would sell the soul of a nation for a strong equity market and strong business conditions while Americans and their coalition allies pay the price on the battlefield. It will also produce long term inflation and decimate the dollar beyond recognition. This is truly the creed of Daddy Warbucks and is a formula that has led the USA to its present decline while being in a terminal state of denial as it wages war everywhere.


Robby Offline
#5 Posted:
Joined: 10-30-2002
Posts: 5,067
Very nice Thom and I agree, the economy is in the midst of a strong rebound. Leaving the neo-libs to do nothing but scratch their “heads” and whine… All they can do is hope that something, anything bad will happen so their man Lurch can be elected. My question remains unanswered;

"uncleb, if deficits are not a good thing, why did a democrat controlled House and Senate run them for so many decades?"

Additionally, is it even remotely possible that the current deficit may be a legacy of the Clinton recession? It started before W took office (fact dudes, deal with it). And maybe, just maybe Muslim terrorists flying in to buildings put a ding in the deficit? And perhaps 2 wars? Hello? McFly? Are you listening? Or are you hiding your head vis-à-vis an ostrich?

I’m thinking it’s probably the later, and not the former for our less conservative BOTL.
Thom Offline
#6 Posted:
Joined: 12-08-2003
Posts: 6,117
Robby - I think you need to take the blinders off and not read any politics into this and re-read the above article more carefully, paying close attention to Jim Sinclair's commentary. The author is showing you how badly our economy is being run and what lengths these fools will go to for a short term gain.
Robby Offline
#7 Posted:
Joined: 10-30-2002
Posts: 5,067
Ahhh, well then, I ask the same question of you sir, "if deficits are not a good thing, why did a democrat controlled House and Senate run them for so many decades?"
Robby Offline
#8 Posted:
Joined: 10-30-2002
Posts: 5,067
Additionally, any credit card debt? I do.
uncleb Offline
#9 Posted:
Joined: 11-13-2002
Posts: 1,326
Robby,

I did not intend to depict this, nor do I, as a Dem vs Rep issue. I am saying straight out that deficits are not good for the economy whether is it Dem run or Rep run.

Question for you- Do you think deficits are good for the economy, whether they are Dem run or Rep run?

BTW- My wife and I NEVER carry a credit card debt. We refuse to pay rediculous interest rates. We pay off our balance each month. Just good economic sense.

B.
smelly4tay Offline
#10 Posted:
Joined: 11-15-2003
Posts: 2,775
That is impossible for Robby.
Homebrew Offline
#11 Posted:
Joined: 02-11-2003
Posts: 11,885
Yep Robby,
Your spin will not work on this issue. Re-read the article.
Later
Dave (A.K.A. Homebrew)
P.S. I wish McCain, would have run in the republican primary. It would have given me a reasonable choice for president. Now I have to hold my nose to vote.
Robby Offline
#12 Posted:
Joined: 10-30-2002
Posts: 5,067
It's NOT spin, it's introspection! Many who will admittedly vote for Kerry and try to foist the bogus lame reason that Bush has somehow damaged the economy with the Clinton/Gore recession, will use issues like this, "but look at the deeeeffffffiiicccciiittt (whining)" But when confronted with the question, what about the deficits over the last 50 years with Democrat control of congress? You'll be greeted with blank stares... And more whining. The bottom line is, we have to run a deficit because of all the reasons mentioned above, additionally the bottomer line is that the economy is in a full blown recovery and Lerch even ADMITTED IT! The final bottom line is that revenues are increasing as a result of the stimulus applied to the economy in the form of (yes) "tax cuts". And the last bottom line, in closing, you can't tax yourself in to prosperity, you have to cut spending. period.

Now go vote for the dems who invented deficits and don’t whine about a justifiable one being run by the current republican administration without commenting on ways to reduce it, i.e., cutting spending, not raising taxes.
smelly4tay Offline
#13 Posted:
Joined: 11-15-2003
Posts: 2,775
Robby,
That is one-track thinking.


Many people could go on all day, talking about how the current administrations economic policy will negatively affect my children, my grandchildren, and future generations.


Charlie Offline
#14 Posted:
Joined: 06-16-2002
Posts: 39,751
This deficit that we are in would have happened even if Clinton were still in office:

1. 9/11
2. Economy was on downswing when GWB took over
3. Cost of war and Homeland Defense, would cause deficit without any other factors!

It really is a partisan issue!

Charlie
dbguru Offline
#15 Posted:
Joined: 03-06-2002
Posts: 1,300
Leave to Robby to politicize everything possible in the most creative neo-con artistic ways. Economics is not the issue (in his mind at least)... Its simply that his place to be Cbids foremost Neo-con attack dog.. Probably works for Cheney in his spare time.

This is probably common knowledge.

(satire) Hey Robby?? The Sky is Blue!!!!!
(must be those damn Democrats fault!! Those Blue states suck..... Lets get the smokestacks going and make the skies red)
Robby Offline
#16 Posted:
Joined: 10-30-2002
Posts: 5,067
Typical... I present valid points, and they're met with a bunch of nanny nanny boo boo... "predictable"
Homebrew Offline
#17 Posted:
Joined: 02-11-2003
Posts: 11,885
Robby,
I don't consider the deficit issue to really be a partisan issue, because both parties are guilty. The Republicans made it a huge issue, back during the Newt Gingrich days, and now are ignoring the very arguements they used then. The Democrats are guilty of deficit spending, but that is what helped the Republicans gain their majority in the house and senete. The hypocracy, is now that they, Republicans, are running the show, they have ignored their own issue, and in fact have embraced deficit spending, except for a few standouts, like McCain. I have problems, as most conservatives do, with deficit spending. But the Republicans, have left us, true conservatives, out in the cold. It just goes to show, that the two major parties, have lost touch with reality. They are both against deficit spending, when they are not the ones doing the spending. That is why I am no longer a republican, but a Libertarian. I am not the only exrepublican, who has left the party, due to the hypocracy, conserning deficit spending, and I will not be voting for Bush, this time around. Bush did win the last election, through the electoral college, but not the popular vote, so you can not call it soundly defeating Gore. I voted for Bush against Gore, but will hold my nose and vote for Kerry. If there are enough of us that do so, Bush will lose the election, and there will be a balence in our government again.
Later
Dave (A.K.A. Homebrew)
Robby Offline
#18 Posted:
Joined: 10-30-2002
Posts: 5,067
Dave, I agree with you on everything except the Kerry vote.
dbguru Offline
#19 Posted:
Joined: 03-06-2002
Posts: 1,300
Homebrew's post is both excellent and a prime example why our media has adopted the use of the term "NeoCon" There are huge numbers of disillusioned, thinking reasonable traditional conservatives whose values are their own and the product of reasonable thinking. Homebrew is not alone. Then there are the neo-cons who rationalize and change their values on a dime to suit the immediate propaganda needs of the current Bush administration. Their only concern themselves with smearing and attacking their opponents to maintain power.

I'm saying there are traditional conservatives who can help unite work together and can find common ground with liberals. Then there are neo-cons whose agenda is completely divisive and dangerous.
Robby Offline
#20 Posted:
Joined: 10-30-2002
Posts: 5,067
Frankly DB, your response is the antithetical crap I expect.
U sir are NOT a libertarian, not conservative, U are a flaming
Cold-hearted died in the wool, left wing socialist and are voting
Kerry for wholly different reasons that Homebrew.

You don’t have anything in common with disheartened
One time Republicans. I indeed understand how some feel
Until the current admin stops acting like Republcrates…

Don’t try to group yourself loosely with
Birds who are clearly NOT of a feather.
dbguru Offline
#21 Posted:
Joined: 03-06-2002
Posts: 1,300
Robby, you sir have complete utter ignorance when it comes to me. This ignorance is becoming famous here on Cbid. The main difference between you and me is that I make observations and you sir, in the spirit of the wonderful leaders that your support have taken lying to a new neo-con artist art form.

FYI, I am a extremely dishearted ex-Republican who was invited to Bush the First's inaguration, supported Reagan on 1980, met him on 2 occassions and was very active with Dole's presidential campaign in '88 along with my Republican congressman throughout the 80's. These were conservatives I had some respect for. I was an active involved Republican up until 1991. Then I was fairly independent for the next 9 years

But since 2000, thanks primarily to neo-cons like yourself and GWB especially, I am now solidly and actively involved with the Democrats. I (probably unlike you .. believe in giving and working for what I believe in) Like I did when I was a Republican I am active and involved both with the presidential campaign and my congressional campaign. I've put dozens of hours of volunteer work and hundreds of dollars of my hard earned money into the cause. Had it not been for the neo-cons, These efforts would probably still have been been with more traditional conservatives like Homebrew and the leaders be supports. There are traditional conservatives and then there are neo-cons like yourself, Robby. It's the neo-Cons that have made the Republican Party an organization I can no longer support in any way. And with every politicizing post you neo-cons make, it does nothing but make me an more activist liberal.

Robby, you have never made any refeerence to actually making any efforts for the neo-cons you support other than ranting on this board ad infinitum. Heck I've probably done way more to support conservatives that guys like Homebrew can respect than you've ever done for your neo-caon artist leaders. And in that neo-con tradition, sir, you do nothing but show us all that you are are nothing but an insulting brainwashed neo-con artist attack dog.

You are only verbally deficating on yourself my friend. And we're all beginning to get more familiar with what that smells like.

DB
Robby Offline
#22 Posted:
Joined: 10-30-2002
Posts: 5,067
First, sounds like you flip/flop like your “man” JFK.
Unlike me, I’m not a big W fan, but can’t
Come fill circle and reverse field and
Keep trying to justify myself.

You can’t say you were a GOP supporter
On one hand and then turn around 180
Undo everything you said you stood for

Db, that’s like saying you’re going gay
Because your last romance didn’t workout!
dbguru Offline
#23 Posted:
Joined: 03-06-2002
Posts: 1,300
Robby, your gay analogy makes no sense
I have no reason to lie about this. I was pretty much a Republican until 1991. In 1990 I married a conservative Christian gal who I discovered was nice and gracious on the outside and violent, mean-spirited and hateful in a very bigotted way on the inside. She introduced me to many others in the neo-conservative right who had the same ultra-hypocritical behavior. Her behavior was vain, self-focused and socially climbing. Although professing Chritianity publically she and her friends were often quite sinful in their actions.

Ultimately I felt my association with those in this neo-con frame of mind was abhorant. A year later I divorced her and married a far more loving and sensible gal who is nurturing and caring as a pediatric nurse. Politically I became more independent and considerate of Reform and Libertarian platforms and also benefted from the economics of the 1990's in a very positive way which gave me more respect for the Democrats understanding of economic issues in general.

Then came the witch hunt with the Clinton's impeachment over a lousy BJ. A personal issue that the neo-cons decided to channel major resources into make a big issue out of costing taxpayers huge amounts of money. Then the smear campaigns that GW Bush directed at John McCain. The rise of the right wing media and its propaganda machine which brainwashes people like you, Robby into non-thinking insult machines. And finally the lies that are manefesting in billions of lost dollars and thousands of lost lives in Iraq. This is not any casual flip flop. This is a very deliberative change of mind coming events that should cause any caring thinking person to change his mind.

Just like Kerry coming to the conclusions about atrocities in Vietnam, I am about the actions of the neo-cons. And that has what has made me a liberal
Robby Offline
#24 Posted:
Joined: 10-30-2002
Posts: 5,067
Forgive me, wasn’t saying U were, just an analogy.
Unlike other neo-cons, I don’t
Condone everything W does
Kindred spirits support W but dislike some aspects.

You can still vote for the man but not agree
One hundred percent on all his policies.
Until the libertarian party becomes a force, I’m stuck.

Dubya is the lesser of two evils IMO
But lesser that Kerry has lots of room to get to W…
dbguru Offline
#25 Posted:
Joined: 03-06-2002
Posts: 1,300
Well. perhaps there is hope for you yet, Robby...

Now if we can all keep an open enough mind to investigate who John Kerry really is as we begin to see more unbiased sources on the subject and not through the lying misrepresentations that the Bush ads and the neo-con media present. Perhaps Dubya might even consider a debate or two. Wouldn't that be interesting.

You just might find him to be a lot more viable than you see him now.... At least a lot more viable than the status quo with GWB.
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