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  #31  
Old 12-29-2009, 01:57 AM
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Originally Posted by Howlin' Wolf View Post
would be immediate. I thought he meant in a positive way.
I don't follow American politics very closely, so the only stuff about the stimulus program I have read has been something by Christina Romer, the head of the CEA. She correctly prognosed that the simulus would need quite some time to come to effect and if the POTUS has claimed that it would hit immediately, he was either ignorant or lied.
In my humble opinion (95% of all economists would tell you something else), the stimulus was too small. Export demand cannot do the trick in a worldwide recession, monetary policy cannot do the trick either when interest rates are close to zero (OK, you can do the trick with creative central banking, but "money for nothing", buying worthless assets for money, is not sound central banking IMO), so the only medicine that remains is a temporary increase in government spending.

Last edited by horatio : 12-29-2009 at 02:01 AM.
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  #32  
Old 12-29-2009, 04:57 AM
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It doesn't really matter. People wanted Obama to fix almost ten years of escalating problems overnight and anything short of that is basically grounds for impeachment. Of course, things could be even worse than they are right now--we could be in a depression rather than a levelling out recession right now--but nobody is really thinking of that.

We live in the "We want it immediately" age, and any President after Bush was going to be in trouble--especially one who gets strong opposition for almost everything he tries to do from every direction (including from members of his own party)....
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  #33  
Old 12-29-2009, 07:06 AM
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One can blame him for not having done more radical things, i.e. not closing down more torture prisons and thus getting into trouble with the CIA, persecuting the criminals from the previous administration, doing more against climate change, implementing a larger stimulus program ... but it is hard to do all the sane stuff when roughly one half of the population does not want to hear anything about torture, war crimes, climate change, the merits of a public health systen (You believe that free markets are efficient? Read about adverse selection in insurance markets and take a look at how much the US spends on health services in comparison to average longevity, then some dogmas in your head might vanish and pragmatism might takeover.) and the necessity for deficit spending in a liquidity trap.

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  #34  
Old 12-29-2009, 09:57 AM
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Hans Werner Sinn

You will not know him, if you are not from germany. And even if you are, his name may not mean much to you, but if you are from germany and you do watch TV then you do know this face for certain:



He is an economist and was most influential during the 90ies and the first decade of this century. He praised the liberalization of markets and made declining wages and the weakening of workers rights his mantra. There was no talkshow where he did not try to hammer into the heads of a german public that declining wages where a good thing. And this guy meant it. He found even a wage of three Euros an hour acceptable. He is the kind of economist that sees poverty as a necessary part of life, so that a small minority and self-proclaimed elite can be "successfull".

Then the crisis hit and it got a little silent around him. But dont think he learnt anything. He is back! Seems there are people so dogmatic, stubborn, delusional and hypocrtitical, they dont allow reality and facts to bother them.

So I award all the neo-liberal deregulationist economists and TV "experts" of the past 20 years with the award for "Most Annoying Person of 2009" for their fraudulent behaviour, their unwillingness to talk honestly with the people, their blatantly obvious unwillingness to learn, their coordinated and intentional attitude to turn all moral and human decency on its head and label poverty, scarcity and injustice as "economic growth", and finally their disgusting shamelesness to keep calling themselves experts and simply going on talking as they allways used to talk....

Last edited by Botany Bay : 12-29-2009 at 10:01 AM.
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  #35  
Old 12-29-2009, 10:30 AM
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The Tory MP who went onto American TV and ragged on the NHS. What a twit!
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  #36  
Old 12-29-2009, 07:11 PM
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Quote:
Originally Posted by Botany Bay View Post
Hans Werner Sinn...





....
That attitude would piss me off too.

Quote:
Originally Posted by janeway72 View Post
The Tory MP who went onto American TV and ragged on the NHS. What a twit!
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  #37  
Old 12-30-2009, 01:40 AM
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Quote:
Originally Posted by Botany Bay View Post
Hans Werner Sinn

You will not know him, if you are not from germany. And even if you are, his name may not mean much to you, but if you are from germany and you do watch TV then you do know this face for certain:



He is an economist and was most influential during the 90ies and the first decade of this century. He praised the liberalization of markets and made declining wages and the weakening of workers rights his mantra. There was no talkshow where he did not try to hammer into the heads of a german public that declining wages where a good thing. And this guy meant it. He found even a wage of three Euros an hour acceptable. He is the kind of economist that sees poverty as a necessary part of life, so that a small minority and self-proclaimed elite can be "successfull".

Then the crisis hit and it got a little silent around him. But dont think he learnt anything. He is back! Seems there are people so dogmatic, stubborn, delusional and hypocrtitical, they dont allow reality and facts to bother them.

So I award all the neo-liberal deregulationist economists and TV "experts" of the past 20 years with the award for "Most Annoying Person of 2009" for their fraudulent behaviour, their unwillingness to talk honestly with the people, their blatantly obvious unwillingness to learn, their coordinated and intentional attitude to turn all moral and human decency on its head and label poverty, scarcity and injustice as "economic growth", and finally their disgusting shamelesness to keep calling themselves experts and simply going on talking as they allways used to talk....
Sinn is one of the best German economists. His talkshow/interview stuff is rubbish, but he has e.g. written a fantastic paper about climate change and the necessity for "supply-side" measures (besides "demand-side" measures like CO2 taxation) like re-forestation.
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  #38  
Old 12-30-2009, 02:57 AM
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I have forgotten, lol But any celeb that is in the press over and over. Currently Tiger Woods. So tierd of hearing about him in the news
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  #39  
Old 12-30-2009, 03:06 AM
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Also as far as the decade is concerned, Richard Dawkins the scientist annoys me but I have said that before on this board. His logic is flawed but people agree with him because he is a scientist who writes books.
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  #40  
Old 12-30-2009, 03:28 AM
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Exactly what is wrong with his logic?
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