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an.
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June 23, 2010 at 9:20 AM #570725June 23, 2010 at 9:21 AM #569740
Allan from Fallbrook
Participant[quote=Arraya]
Obama’s appeal “isn’t anything that goes against what we are doing,” Merkel told reporters yesterday. “If we don’t get onto a path of sustainable economic growth but have rather a growth bubble, then if the next crisis comes we won’t be able to pay for it.”[/quote]Arraya: Good article from Socialist Appeal (UK) on “Does Keynesianism Work?”: http://www.socialist.net/keynesianism.htm
Oblique references to Marx’s theorizing on dialectical materialism, but overall a very balanced article, with its focus on UK policies dating back to the 1930s and their effects, both good and bad.
It will also be interesting to watch the EU’s gyrations as not only Greece, but Spain, Ireland, Italy and Portugal start to “slip”. Satyajit Das had an article on Greece at Minyanville, likening the Greek crisis to the US subprime crisis: http://www.minyanville.com/businessmarkets/articles/greece-greek-sovereign-debt-goldman-sachs/4/12/2010/id/27726
June 23, 2010 at 9:21 AM #569834Participant[quote=Arraya]
Obama’s appeal “isn’t anything that goes against what we are doing,” Merkel told reporters yesterday. “If we don’t get onto a path of sustainable economic growth but have rather a growth bubble, then if the next crisis comes we won’t be able to pay for it.”[/quote]Arraya: Good article from Socialist Appeal (UK) on “Does Keynesianism Work?”: http://www.socialist.net/keynesianism.htm
Oblique references to Marx’s theorizing on dialectical materialism, but overall a very balanced article, with its focus on UK policies dating back to the 1930s and their effects, both good and bad.
It will also be interesting to watch the EU’s gyrations as not only Greece, but Spain, Ireland, Italy and Portugal start to “slip”. Satyajit Das had an article on Greece at Minyanville, likening the Greek crisis to the US subprime crisis: http://www.minyanville.com/businessmarkets/articles/greece-greek-sovereign-debt-goldman-sachs/4/12/2010/id/27726
June 23, 2010 at 9:21 AM #570343Participant[quote=Arraya]
Obama’s appeal “isn’t anything that goes against what we are doing,” Merkel told reporters yesterday. “If we don’t get onto a path of sustainable economic growth but have rather a growth bubble, then if the next crisis comes we won’t be able to pay for it.”[/quote]Arraya: Good article from Socialist Appeal (UK) on “Does Keynesianism Work?”: http://www.socialist.net/keynesianism.htm
Oblique references to Marx’s theorizing on dialectical materialism, but overall a very balanced article, with its focus on UK policies dating back to the 1930s and their effects, both good and bad.
It will also be interesting to watch the EU’s gyrations as not only Greece, but Spain, Ireland, Italy and Portugal start to “slip”. Satyajit Das had an article on Greece at Minyanville, likening the Greek crisis to the US subprime crisis: http://www.minyanville.com/businessmarkets/articles/greece-greek-sovereign-debt-goldman-sachs/4/12/2010/id/27726
June 23, 2010 at 9:21 AM #570446Participant[quote=Arraya]
Obama’s appeal “isn’t anything that goes against what we are doing,” Merkel told reporters yesterday. “If we don’t get onto a path of sustainable economic growth but have rather a growth bubble, then if the next crisis comes we won’t be able to pay for it.”[/quote]Arraya: Good article from Socialist Appeal (UK) on “Does Keynesianism Work?”: http://www.socialist.net/keynesianism.htm
Oblique references to Marx’s theorizing on dialectical materialism, but overall a very balanced article, with its focus on UK policies dating back to the 1930s and their effects, both good and bad.
It will also be interesting to watch the EU’s gyrations as not only Greece, but Spain, Ireland, Italy and Portugal start to “slip”. Satyajit Das had an article on Greece at Minyanville, likening the Greek crisis to the US subprime crisis: http://www.minyanville.com/businessmarkets/articles/greece-greek-sovereign-debt-goldman-sachs/4/12/2010/id/27726
June 23, 2010 at 9:21 AM #570730Participant[quote=Arraya]
Obama’s appeal “isn’t anything that goes against what we are doing,” Merkel told reporters yesterday. “If we don’t get onto a path of sustainable economic growth but have rather a growth bubble, then if the next crisis comes we won’t be able to pay for it.”[/quote]Arraya: Good article from Socialist Appeal (UK) on “Does Keynesianism Work?”: http://www.socialist.net/keynesianism.htm
Oblique references to Marx’s theorizing on dialectical materialism, but overall a very balanced article, with its focus on UK policies dating back to the 1930s and their effects, both good and bad.
It will also be interesting to watch the EU’s gyrations as not only Greece, but Spain, Ireland, Italy and Portugal start to “slip”. Satyajit Das had an article on Greece at Minyanville, likening the Greek crisis to the US subprime crisis: http://www.minyanville.com/businessmarkets/articles/greece-greek-sovereign-debt-goldman-sachs/4/12/2010/id/27726
June 23, 2010 at 9:32 AM #569745briansd1
Guest[quote=CA renter]
No matter what, we’re going to have to pay for the excesses and misallocations of the past few decades. Might as well get it over with as quickly as possible. The first one to cleanse will be the first one to prosper when the time is right, IMHO.[/quote]Yes, we’ll pay for the past excesses.
However, remember that economic growth has a compounding effect from year to year. A few years of negative growth and it’s hard to catch up.
Recessions cause living standards to decline and longer to catch up. In the UK, financial austerity combined with horrible weather do not make for a pleasant living environment.
Once people hit bottom, they need some help in getting back up; otherwise, they will stay down there for good. That’s why, during recessions, social services, education and training are even more important.
To me, the test of leadership is quickly expanding government programs during recessions and scaling back spending during good economic times. The US leadership did that very well during the prosperous late 1990s; and the government enjoyed surpluses which should have been “saved-up” for the future.
June 23, 2010 at 9:32 AM #569839Guest[quote=CA renter]
No matter what, we’re going to have to pay for the excesses and misallocations of the past few decades. Might as well get it over with as quickly as possible. The first one to cleanse will be the first one to prosper when the time is right, IMHO.[/quote]Yes, we’ll pay for the past excesses.
However, remember that economic growth has a compounding effect from year to year. A few years of negative growth and it’s hard to catch up.
Recessions cause living standards to decline and longer to catch up. In the UK, financial austerity combined with horrible weather do not make for a pleasant living environment.
Once people hit bottom, they need some help in getting back up; otherwise, they will stay down there for good. That’s why, during recessions, social services, education and training are even more important.
To me, the test of leadership is quickly expanding government programs during recessions and scaling back spending during good economic times. The US leadership did that very well during the prosperous late 1990s; and the government enjoyed surpluses which should have been “saved-up” for the future.
June 23, 2010 at 9:32 AM #570348Guest[quote=CA renter]
No matter what, we’re going to have to pay for the excesses and misallocations of the past few decades. Might as well get it over with as quickly as possible. The first one to cleanse will be the first one to prosper when the time is right, IMHO.[/quote]Yes, we’ll pay for the past excesses.
However, remember that economic growth has a compounding effect from year to year. A few years of negative growth and it’s hard to catch up.
Recessions cause living standards to decline and longer to catch up. In the UK, financial austerity combined with horrible weather do not make for a pleasant living environment.
Once people hit bottom, they need some help in getting back up; otherwise, they will stay down there for good. That’s why, during recessions, social services, education and training are even more important.
To me, the test of leadership is quickly expanding government programs during recessions and scaling back spending during good economic times. The US leadership did that very well during the prosperous late 1990s; and the government enjoyed surpluses which should have been “saved-up” for the future.
June 23, 2010 at 9:32 AM #570451Guest[quote=CA renter]
No matter what, we’re going to have to pay for the excesses and misallocations of the past few decades. Might as well get it over with as quickly as possible. The first one to cleanse will be the first one to prosper when the time is right, IMHO.[/quote]Yes, we’ll pay for the past excesses.
However, remember that economic growth has a compounding effect from year to year. A few years of negative growth and it’s hard to catch up.
Recessions cause living standards to decline and longer to catch up. In the UK, financial austerity combined with horrible weather do not make for a pleasant living environment.
Once people hit bottom, they need some help in getting back up; otherwise, they will stay down there for good. That’s why, during recessions, social services, education and training are even more important.
To me, the test of leadership is quickly expanding government programs during recessions and scaling back spending during good economic times. The US leadership did that very well during the prosperous late 1990s; and the government enjoyed surpluses which should have been “saved-up” for the future.
June 23, 2010 at 9:32 AM #570735Guest[quote=CA renter]
No matter what, we’re going to have to pay for the excesses and misallocations of the past few decades. Might as well get it over with as quickly as possible. The first one to cleanse will be the first one to prosper when the time is right, IMHO.[/quote]Yes, we’ll pay for the past excesses.
However, remember that economic growth has a compounding effect from year to year. A few years of negative growth and it’s hard to catch up.
Recessions cause living standards to decline and longer to catch up. In the UK, financial austerity combined with horrible weather do not make for a pleasant living environment.
Once people hit bottom, they need some help in getting back up; otherwise, they will stay down there for good. That’s why, during recessions, social services, education and training are even more important.
To me, the test of leadership is quickly expanding government programs during recessions and scaling back spending during good economic times. The US leadership did that very well during the prosperous late 1990s; and the government enjoyed surpluses which should have been “saved-up” for the future.
June 23, 2010 at 11:11 AM #569862Arraya
Participant[quote=Allan from Fallbrook]
Arraya: Good article from Socialist Appeal (UK) on “Does Keynesianism Work?”: http://www.socialist.net/keynesianism.htm
Oblique references to Marx’s theorizing on dialectical materialism, but overall a very balanced article, with its focus on UK policies dating back to the 1930s and their effects, both good and bad.
[/quote]
Very good critique of Keynesianism from a left perspective.
It appears officialdom is backed into a Keynesianism corner at this point. It’s print and take on more debt or fall into a deflationary spiral, IMO. Much like the oft-cited analogy of a drug addict at the end of a binge frantically seeking more and more drugs to get the same high.
It seems like it’s almost time to go into detox. What that will look like is a good question.
June 23, 2010 at 11:11 AM #569956Participant[quote=Allan from Fallbrook]
Arraya: Good article from Socialist Appeal (UK) on “Does Keynesianism Work?”: http://www.socialist.net/keynesianism.htm
Oblique references to Marx’s theorizing on dialectical materialism, but overall a very balanced article, with its focus on UK policies dating back to the 1930s and their effects, both good and bad.
[/quote]
Very good critique of Keynesianism from a left perspective.
It appears officialdom is backed into a Keynesianism corner at this point. It’s print and take on more debt or fall into a deflationary spiral, IMO. Much like the oft-cited analogy of a drug addict at the end of a binge frantically seeking more and more drugs to get the same high.
It seems like it’s almost time to go into detox. What that will look like is a good question.
June 23, 2010 at 11:11 AM #570465Participant[quote=Allan from Fallbrook]
Arraya: Good article from Socialist Appeal (UK) on “Does Keynesianism Work?”: http://www.socialist.net/keynesianism.htm
Oblique references to Marx’s theorizing on dialectical materialism, but overall a very balanced article, with its focus on UK policies dating back to the 1930s and their effects, both good and bad.
[/quote]
Very good critique of Keynesianism from a left perspective.
It appears officialdom is backed into a Keynesianism corner at this point. It’s print and take on more debt or fall into a deflationary spiral, IMO. Much like the oft-cited analogy of a drug addict at the end of a binge frantically seeking more and more drugs to get the same high.
It seems like it’s almost time to go into detox. What that will look like is a good question.
June 23, 2010 at 11:11 AM #570568Participant[quote=Allan from Fallbrook]
Arraya: Good article from Socialist Appeal (UK) on “Does Keynesianism Work?”: http://www.socialist.net/keynesianism.htm
Oblique references to Marx’s theorizing on dialectical materialism, but overall a very balanced article, with its focus on UK policies dating back to the 1930s and their effects, both good and bad.
[/quote]
Very good critique of Keynesianism from a left perspective.
It appears officialdom is backed into a Keynesianism corner at this point. It’s print and take on more debt or fall into a deflationary spiral, IMO. Much like the oft-cited analogy of a drug addict at the end of a binge frantically seeking more and more drugs to get the same high.
It seems like it’s almost time to go into detox. What that will look like is a good question.
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