"Jolting"the Economy

Discussion in 'News / Current Events' started by Revmitchell, Nov 26, 2008.

  1. Revmitchell

    Revmitchell
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    [​IMG]Barack Obama says that we have to "jolt" the economy. That certainly makes sense, if you take the media's account of the economy seriously -- but should the media be taken seriously?

    Amid all the political and media hysteria, national output has declined by less than one-half of one percent. In fact, it may not have declined even that much -- or at all -- when the statistics are revised later, as they very often are.

    We are not talking about the Great Depression, when output dropped by one-third and unemployment soared to 25 percent. What we are talking about is a golden political opportunity for politicians to use the current financial crisis to fundamentally change an economy that has been successful for more than two centuries, so that politicians can henceforth micro-manage all sorts of businesses and play Robin Hood, taking from those who are not likely to vote for them and transferring part of their earnings to those who will vote for them.


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  2. LeBuick

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    Do you believe this or are you just posting the story?
     
  3. Revmitchell

    Revmitchell
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    I appreciate you actually asking that question instead of just assuming. So what do you see wrong with his view and what specifically is wrong with supporting info.
     
  4. LeBuick

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    Our economic system hasn't been without faults or stumble free successful for the last two centuries. We've had several market crashes and a really great depression just to name a few of those stumbles. We still have record numbers of people living below the poverty level who go to bed hungry and sleep on the streets. My ideal successful economy will have opportunity to everyone.

    Taxes are here to stay so describing them as Robin Hood style taking from the rich and giving to the poor is kind of an exaggeration style scare tactic but even if true, that system was in place long before this crises and long before Obama came on the scene. Politicians didn't need this crises to sell more regulation, the crises sold that conclusion on its own.
     

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