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Originally Posted by filtherton
Where? I didn't do anything you didn't implicitly do yourself.
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Not that important to me. "The otherside" refers to people who think supply side economics doesn't work or is harmful.
I don't mean to imply my disagreement - I openly disagree with those who don't share my views on real economic trends. If my disagreement or tone is offensive - I can't help it. Its my nature to have "bite" in the way I communicate.
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I'm sorry. The letter wasn't actually from the average american. It was actually from me. It was kinda like a way for me to say something general. You would be correct to assume that i was speaking only from my perspective and not this "other side" that you mentioned.
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Don't be sorry. I enjoyed the letter and your point of view as illstrated in the letter. I sincerly thought the letter was creative. I did not understand how you have that point of view, but that is what I am looking for. I want to better understand how good news is viewed as bad news. I want to understand how when economic issues complained about, when the economic issues then turn positive, how people fail to acknowledge the positive.
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I'm confused. At first you simply put me in the "other side" category, which apparently you did as a response to me claiming to speak on behalf of the average american. Does this mean you see the average american as having a perspective counter to yours? What exactly did you mean by "the other side"?
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On one hand we have strong economic growth, virtual full employment, low inflation, highest home ownership rates in history, low crime rates, more poor going to college than ever before, more material goods than ever in history, more home equity than ever, more people invested in corporations than ever - yet people only focus on bad news. So, yes if the average American fails to see the positives, their views are counter to mine. And I would argue their views are wrong.
However, if you get enough people thinking bad things are going to happen in the economy, bad things will happen. On a selfish note, I need to understand this way of thinking and anticipate trends to avoid getting burned. For example if there is no "housing bubble" but everyone thinks there is one, eventually the market will crash simply because of attitudes. If I can sell and buy at the right time, I can build financial security. You could too.
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Why the trouble with the word myopic? It means shortsighted. As in "Relying on economic indicators that are many times removed from any kind of relevance to the vast majority of americans as proof of the well-being of the vast majority of americans is short-sighted."
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If we look at homeownership statistics that is not removed from reality. If we look at new car sales that is not removed from reality. If people are buying homes and cars, things can't really be that bad.
Also think about SUV sales and gas prices. Why are SUV's still being sold if gas prices are soooo bad? I would bet you know someone who purchased one in the last 6 months. I know i have. There are hundreds of contradictions like this that make no sense to me.
No proble with the word myoptic. I do get defensive when someone starts with "Your problem is...", i got problems - but only my wife knows what they are.
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I don't live on the sunny side of the street when it comes to economic theory. I have as much faith in economists as i do in pat robertson's ability to divine the intentions of jesus christ. I don't think supply side economics are working because i don't see any actual proof that very many people are better off because of supply side economics.
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The sunny side of the street refers to a positive outlook. Even when I was a kid and the few times my mom sent me to the store with food stamps, becuase my dad was laidoff or on strike, I had a positive outlook.
I don;t have faith in economists either. I look at raw data and come to my own conclusions. I conclude supply side works.