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MadeInTaiwan
Participant[quote=HereWeGo]I don’t see how a debtor nation can continue to spit in the eye of creditors. Isn’t the idea to mitigate the credit crisis rather than to exacerbate it?[/quote]
Well if we have a prolonged recession/depression creditors are not going to see their money back either. My admitted partisan interpretation of Obama’s position is that we temporarily inflate to unlock credit market, then tighten the belt except for infrastructure, high tech, and health care and raise taxes. In essence he is telegraphing to the creditors that we won’t continue to deficit spend once we get over the crisis. I don’t know if will work, but it appears to be the best compromise for governing and getting elected.
Participant[quote=HereWeGo]I don’t see how a debtor nation can continue to spit in the eye of creditors. Isn’t the idea to mitigate the credit crisis rather than to exacerbate it?[/quote]
Well if we have a prolonged recession/depression creditors are not going to see their money back either. My admitted partisan interpretation of Obama’s position is that we temporarily inflate to unlock credit market, then tighten the belt except for infrastructure, high tech, and health care and raise taxes. In essence he is telegraphing to the creditors that we won’t continue to deficit spend once we get over the crisis. I don’t know if will work, but it appears to be the best compromise for governing and getting elected.
Participant[quote=HereWeGo]I don’t see how a debtor nation can continue to spit in the eye of creditors. Isn’t the idea to mitigate the credit crisis rather than to exacerbate it?[/quote]
Well if we have a prolonged recession/depression creditors are not going to see their money back either. My admitted partisan interpretation of Obama’s position is that we temporarily inflate to unlock credit market, then tighten the belt except for infrastructure, high tech, and health care and raise taxes. In essence he is telegraphing to the creditors that we won’t continue to deficit spend once we get over the crisis. I don’t know if will work, but it appears to be the best compromise for governing and getting elected.
Participant[quote=HereWeGo]I don’t see how a debtor nation can continue to spit in the eye of creditors. Isn’t the idea to mitigate the credit crisis rather than to exacerbate it?[/quote]
Well if we have a prolonged recession/depression creditors are not going to see their money back either. My admitted partisan interpretation of Obama’s position is that we temporarily inflate to unlock credit market, then tighten the belt except for infrastructure, high tech, and health care and raise taxes. In essence he is telegraphing to the creditors that we won’t continue to deficit spend once we get over the crisis. I don’t know if will work, but it appears to be the best compromise for governing and getting elected.
Participant[quote=cooprider]This isn’t off-topic IMO. Where are all the Obama cheerleaders now?
No way to spin this one:
• A temporary $3,000 tax credit to companies for each new job created in the United States over the next two years.
• Penalty free withdrawals from 401(k) and IRA retirement accounts up to a maximum of $10,000 this year and next.
• A 90-day moratorium on foreclosures for homeowners who are living in their homes and making good-faith efforts to make their mortgage payments.
• A call for the Treasury to help unfreeze markets for individual mortgages, student loans, car loans, loans for multifamily dwellings and credit card loans.I don’t think McCain is any better. In fact, as I’ve been saying all along they’re no different. This is not “change.”
It’s time for a 3rd party. [/quote]
I am one of those Obama cheerleaders. Not trying to spin this. It is pure pandering. It might slow the housing price decline, but I can’t imagine it stopping the slide. On one hand, it punishes those who were patient, on the other, a too precipitous a decline is bad for the economy no? certainly no better than the unrealistic climb.
My main point was that while Obama panders like all politicians, he also shows that he understand this is only a temporary solution. Buried in the speech he talks about having to live within our means, which implies spending cuts and tax increases. It implies (at least my reading) that once we unfreeze the credit market then belt tightening will have to continue for all.
Participant[quote=cooprider]This isn’t off-topic IMO. Where are all the Obama cheerleaders now?
No way to spin this one:
• A temporary $3,000 tax credit to companies for each new job created in the United States over the next two years.
• Penalty free withdrawals from 401(k) and IRA retirement accounts up to a maximum of $10,000 this year and next.
• A 90-day moratorium on foreclosures for homeowners who are living in their homes and making good-faith efforts to make their mortgage payments.
• A call for the Treasury to help unfreeze markets for individual mortgages, student loans, car loans, loans for multifamily dwellings and credit card loans.I don’t think McCain is any better. In fact, as I’ve been saying all along they’re no different. This is not “change.”
It’s time for a 3rd party. [/quote]
I am one of those Obama cheerleaders. Not trying to spin this. It is pure pandering. It might slow the housing price decline, but I can’t imagine it stopping the slide. On one hand, it punishes those who were patient, on the other, a too precipitous a decline is bad for the economy no? certainly no better than the unrealistic climb.
My main point was that while Obama panders like all politicians, he also shows that he understand this is only a temporary solution. Buried in the speech he talks about having to live within our means, which implies spending cuts and tax increases. It implies (at least my reading) that once we unfreeze the credit market then belt tightening will have to continue for all.
Participant[quote=cooprider]This isn’t off-topic IMO. Where are all the Obama cheerleaders now?
No way to spin this one:
• A temporary $3,000 tax credit to companies for each new job created in the United States over the next two years.
• Penalty free withdrawals from 401(k) and IRA retirement accounts up to a maximum of $10,000 this year and next.
• A 90-day moratorium on foreclosures for homeowners who are living in their homes and making good-faith efforts to make their mortgage payments.
• A call for the Treasury to help unfreeze markets for individual mortgages, student loans, car loans, loans for multifamily dwellings and credit card loans.I don’t think McCain is any better. In fact, as I’ve been saying all along they’re no different. This is not “change.”
It’s time for a 3rd party. [/quote]
I am one of those Obama cheerleaders. Not trying to spin this. It is pure pandering. It might slow the housing price decline, but I can’t imagine it stopping the slide. On one hand, it punishes those who were patient, on the other, a too precipitous a decline is bad for the economy no? certainly no better than the unrealistic climb.
My main point was that while Obama panders like all politicians, he also shows that he understand this is only a temporary solution. Buried in the speech he talks about having to live within our means, which implies spending cuts and tax increases. It implies (at least my reading) that once we unfreeze the credit market then belt tightening will have to continue for all.
Participant[quote=cooprider]This isn’t off-topic IMO. Where are all the Obama cheerleaders now?
No way to spin this one:
• A temporary $3,000 tax credit to companies for each new job created in the United States over the next two years.
• Penalty free withdrawals from 401(k) and IRA retirement accounts up to a maximum of $10,000 this year and next.
• A 90-day moratorium on foreclosures for homeowners who are living in their homes and making good-faith efforts to make their mortgage payments.
• A call for the Treasury to help unfreeze markets for individual mortgages, student loans, car loans, loans for multifamily dwellings and credit card loans.I don’t think McCain is any better. In fact, as I’ve been saying all along they’re no different. This is not “change.”
It’s time for a 3rd party. [/quote]
I am one of those Obama cheerleaders. Not trying to spin this. It is pure pandering. It might slow the housing price decline, but I can’t imagine it stopping the slide. On one hand, it punishes those who were patient, on the other, a too precipitous a decline is bad for the economy no? certainly no better than the unrealistic climb.
My main point was that while Obama panders like all politicians, he also shows that he understand this is only a temporary solution. Buried in the speech he talks about having to live within our means, which implies spending cuts and tax increases. It implies (at least my reading) that once we unfreeze the credit market then belt tightening will have to continue for all.
Participant[quote=cooprider]This isn’t off-topic IMO. Where are all the Obama cheerleaders now?
No way to spin this one:
• A temporary $3,000 tax credit to companies for each new job created in the United States over the next two years.
• Penalty free withdrawals from 401(k) and IRA retirement accounts up to a maximum of $10,000 this year and next.
• A 90-day moratorium on foreclosures for homeowners who are living in their homes and making good-faith efforts to make their mortgage payments.
• A call for the Treasury to help unfreeze markets for individual mortgages, student loans, car loans, loans for multifamily dwellings and credit card loans.I don’t think McCain is any better. In fact, as I’ve been saying all along they’re no different. This is not “change.”
It’s time for a 3rd party. [/quote]
I am one of those Obama cheerleaders. Not trying to spin this. It is pure pandering. It might slow the housing price decline, but I can’t imagine it stopping the slide. On one hand, it punishes those who were patient, on the other, a too precipitous a decline is bad for the economy no? certainly no better than the unrealistic climb.
My main point was that while Obama panders like all politicians, he also shows that he understand this is only a temporary solution. Buried in the speech he talks about having to live within our means, which implies spending cuts and tax increases. It implies (at least my reading) that once we unfreeze the credit market then belt tightening will have to continue for all.
Participant[quote=patientlywaiting]Paul Krugman, my favorite economist wins the Nobel.
http://www.latimes.com/news/nationworld/world/la-fg-nobelecon14-2008oct14,0,5347677.story
…
Krugman said the major European economies have “in effect declared themselves ready to follow Britain’s lead, injecting hundreds of billions of dollars into banks while guaranteeing their debts.”
“And whaddya know,” Krugman continued, “Mr. Paulson — after arguably wasting several precious weeks — has also reversed course, and now plans to buy equity stakes rather than bad mortgage securities.”
[/quote]Did you read Slate’s reprint of one of Krugman’s articles reducing finacial cycles to baby sitting coop? http://www.slate.com/id/2202165/
Participant[quote=patientlywaiting]Paul Krugman, my favorite economist wins the Nobel.
http://www.latimes.com/news/nationworld/world/la-fg-nobelecon14-2008oct14,0,5347677.story
…
Krugman said the major European economies have “in effect declared themselves ready to follow Britain’s lead, injecting hundreds of billions of dollars into banks while guaranteeing their debts.”
“And whaddya know,” Krugman continued, “Mr. Paulson — after arguably wasting several precious weeks — has also reversed course, and now plans to buy equity stakes rather than bad mortgage securities.”
[/quote]Did you read Slate’s reprint of one of Krugman’s articles reducing finacial cycles to baby sitting coop? http://www.slate.com/id/2202165/
Participant[quote=patientlywaiting]Paul Krugman, my favorite economist wins the Nobel.
http://www.latimes.com/news/nationworld/world/la-fg-nobelecon14-2008oct14,0,5347677.story
…
Krugman said the major European economies have “in effect declared themselves ready to follow Britain’s lead, injecting hundreds of billions of dollars into banks while guaranteeing their debts.”
“And whaddya know,” Krugman continued, “Mr. Paulson — after arguably wasting several precious weeks — has also reversed course, and now plans to buy equity stakes rather than bad mortgage securities.”
[/quote]Did you read Slate’s reprint of one of Krugman’s articles reducing finacial cycles to baby sitting coop? http://www.slate.com/id/2202165/
Participant[quote=patientlywaiting]Paul Krugman, my favorite economist wins the Nobel.
http://www.latimes.com/news/nationworld/world/la-fg-nobelecon14-2008oct14,0,5347677.story
…
Krugman said the major European economies have “in effect declared themselves ready to follow Britain’s lead, injecting hundreds of billions of dollars into banks while guaranteeing their debts.”
“And whaddya know,” Krugman continued, “Mr. Paulson — after arguably wasting several precious weeks — has also reversed course, and now plans to buy equity stakes rather than bad mortgage securities.”
[/quote]Did you read Slate’s reprint of one of Krugman’s articles reducing finacial cycles to baby sitting coop? http://www.slate.com/id/2202165/
Participant[quote=patientlywaiting]Paul Krugman, my favorite economist wins the Nobel.
http://www.latimes.com/news/nationworld/world/la-fg-nobelecon14-2008oct14,0,5347677.story
…
Krugman said the major European economies have “in effect declared themselves ready to follow Britain’s lead, injecting hundreds of billions of dollars into banks while guaranteeing their debts.”
“And whaddya know,” Krugman continued, “Mr. Paulson — after arguably wasting several precious weeks — has also reversed course, and now plans to buy equity stakes rather than bad mortgage securities.”
[/quote]Did you read Slate’s reprint of one of Krugman’s articles reducing finacial cycles to baby sitting coop? http://www.slate.com/id/2202165/
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