Quote:
Originally Posted by Derwood
and the reason people have maxed out their credit cards and home equity is because wages have been stagnant/dropped vs. inflation, which means there is less buying power, thus less demand, thus a recession
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That's pretty poor money management to run up your credit balance to buy toys instead of waiting until you have the cash on hand to pay for them.
If you pay cash, you're effectively paying less for whatever you're buying and you keep those evil banks from making as much profit.
---------- Post added at 05:59 PM ---------- Previous post was at 05:53 PM ----------
Quote:
Originally Posted by Baraka_Guru
The idea is that it hasn't done enough—not enough was done. On the other hand, it likely prevented a deeper catastrophe. I won't go so far as to say Keynesian spending hasn't done anything at all.
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So how much should have been spent on Obama's giveaways? $5 trillion? $10 trillion? Just how much of a kick in the ass does the taxpayer have to take by way of increased inflation or higher taxes to pay off Obama's debt to satisfy Obama's fantasy of stimulating the economy.
That's the problem with this stimulus nonsense. First you spend $1 trillion and it doesn't work. Then people start clamoring for even more spending because the first try didn't work. Then even more because the second attempt didn't work. Pretty soon you have pretty serious money thrown down a rathole and no ability to ever recover from it short of national bankruptcy.