I already know that the majority of you fools will be against this paper and thats fine, I'm not here to argue it, but I would like your input so I can make a good argument for it or against it. I'm not a finance guy so I need some ideas I can use in my paper.
The article is from the NY Times:
Debt and Denial
by Paul Krugman
02/13/06
Can be read at:
http://www.informationclearinghouse.inf ... e11922.htm
Since I can't use the usual pro bush argument of " you are an idiot" or negative comments about this guy, you probably should include an actual real point in your reply.
Thanks
Need some arguments for a paper
Moderator: Jesus H Christ
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Shlomart Ben Yisrael
- Insha'Allah
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Taco?
In The Spin Zone?
Talking about Krugman?
With a link to informationclearinghouse?
Stop this crazy streetcar! I want to get off!
In The Spin Zone?
Talking about Krugman?
With a link to informationclearinghouse?
Stop this crazy streetcar! I want to get off!
rock rock to the planet rock ... don't stop
Felix wrote:you've become very bitter since you became jewish......
Kierland drop-kicking Wolftard wrote: Aren’t you part of the silent generation?
Why don’t you just STFU.
Hahaha.
Yeah really though, I can't refute him. On principle, "What goes up, must come down", so he might be onto something. Two things though, fear can do a lot and with a lot projecting about "these times cannot last", we might just be creating a self fullfilling prophecy.
Lastly, don't move from Leesburg. We got it good around here.
Yeah really though, I can't refute him. On principle, "What goes up, must come down", so he might be onto something. Two things though, fear can do a lot and with a lot projecting about "these times cannot last", we might just be creating a self fullfilling prophecy.
Lastly, don't move from Leesburg. We got it good around here.
With all the horseshit around here, you'd think there'd be a pony somewhere.
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Mister Bushice
- Drinking all the beer Luther left behind
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The Bush administration has been financing the war partially on bonds sold to foreign countries, and partially by printing up new money, money that has nothing behind it, which has caused the dollar to plunge over the last few years, it dropped big time in 2003. China and Japan are the majority foreign investors in bonds, and because of that, they hold the key to the bubble, so to speak. If overseas investors get nervous when the dollar drops in value it could trigger a sell off, meaning those bond sales would cause the dollar to drop precipitously. Bush and Co. are counting on that not happening.
The whole concept behind the tax cuts raising revenue is mostly smoke and mirrors, a political tool.
Saying tax cuts cause revenue to go up is nearly impossible to prove, unless you could compare what the revenues would have been without the tax cuts Tax revenues go up from inflation naturally anyway.
Smoke and mirrors. If the economy were truly as successful as it is claimed, why hasn't there been even a single month of significant job growth over the last several years? If the tax cuts are so great why are the big three - Ford GM and Chrysler - cutting their workforces by 25,000-30,000 and having huge quaterly losses?
Wages in the US are lower now than they were 8-10 years ago (after you adjust for inflation). The poor are getting poorer, fewer people can afford health care. The rich are doing well, and benefit the most from tax cuts.
We have a record budget deficit and record trade imbalance. Interest rates are expected to go up again this month for the 17th straight time, and the housing market ( and the related re-fi market), which has helped fuel this economy, has run out of gas. new home sales are off by 8%, housing starts are off by about the same percentage.
Oh yeah, and then there are the gas prices. When people pay more for gas but don't get paid more money for the work they do to afford the gas, where does that money come from? Disposable income will shrink, meaning fewer vacations, sales of recreational and leisure items will suffer, it's inevitable.
The pace of it is the only question. Will we crash land? We will unless something changes in the cost of gas prices. There is a breaking point, and I think we we are close to it.
The whole concept behind the tax cuts raising revenue is mostly smoke and mirrors, a political tool.
Saying tax cuts cause revenue to go up is nearly impossible to prove, unless you could compare what the revenues would have been without the tax cuts Tax revenues go up from inflation naturally anyway.
Smoke and mirrors. If the economy were truly as successful as it is claimed, why hasn't there been even a single month of significant job growth over the last several years? If the tax cuts are so great why are the big three - Ford GM and Chrysler - cutting their workforces by 25,000-30,000 and having huge quaterly losses?
Wages in the US are lower now than they were 8-10 years ago (after you adjust for inflation). The poor are getting poorer, fewer people can afford health care. The rich are doing well, and benefit the most from tax cuts.
We have a record budget deficit and record trade imbalance. Interest rates are expected to go up again this month for the 17th straight time, and the housing market ( and the related re-fi market), which has helped fuel this economy, has run out of gas. new home sales are off by 8%, housing starts are off by about the same percentage.
Oh yeah, and then there are the gas prices. When people pay more for gas but don't get paid more money for the work they do to afford the gas, where does that money come from? Disposable income will shrink, meaning fewer vacations, sales of recreational and leisure items will suffer, it's inevitable.
The pace of it is the only question. Will we crash land? We will unless something changes in the cost of gas prices. There is a breaking point, and I think we we are close to it.
If this were a dictatorship, it'd be a heck of a lot easier, just so long as I'm the dictator." —GWB Washington, D.C., Dec. 19, 2000
Martyred wrote: Hang in there, Whitey. Smart people are on their way with dictionaries.
War Wagon wrote:being as how I've got "stupid" draped all over, I'm not really sure.
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ElTaco
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Simple enough idea.Tom In VA wrote:Hahaha.
Yeah really though, I can't refute him. On principle, "What goes up, must come down", so he might be onto something. Two things though, fear can do a lot and with a lot projecting about "these times cannot last", we might just be creating a self fullfilling prophecy.
Damn...didn't know you lived around here. Its not too bad, although a bit too quiet after Blacksburg. It would be nice to see a little bit more night life on Fridays. I guess for that I'll have to travel to Ashburn or beyond.Tom In VA wrote:Lastly, don't move from Leesburg. We got it good around here.
