“Old” Schooling George Stephanopoulos
The debate is raging over whether any spending on anything of any kind is stimulating to the economy. Pell grants, schools, bridges, ATVs, Honey Bees, grass on the mall, etc. doesn’t grow the economy. The work is temporary and requires taking money from citizens. But alas White House Advisor and ABC host of This Week, George Stephanopoulos doesn’t understand.
Finally a frustrated Steele blurts out … “If government jobs could grow he economy George, why don’t we all quit our private jobs and get government jobs.?”
httpv://www.youtube.com/watch?v=ZIj1FBKthhM
I think that’s the moment the tingle went up George’s leg.
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When you get to spending one Trillion dollars you have to know where it is coming from and you have to know how you are going to pay it back. I had the pleasure of asking John Larson what the plan is to pay the money back that we borrow, his answer was “ingenuity” and then went on some BS 10 minute diatribe about america, I hope to get the video of this soon. They need to play the whole scenario out before they just go borrowing/creating a trillion dollars.
Some infrastructure spending is necessary, but as stimulus it is a short term fix, designed to get money flowing in our economy again, I am sure that spending on infrastructure will get money moving again, but at the end of the day you have to keep it going to maintain the flow of that money. Can you keep infrastructure projects going forever? I don’t really like borrowing for infrastructure because it will not make you money. I think that tax revenue should be used for such things. If you are going to borrow/create this money you need to do something productive with it such that you have something to sell to someone so that you can make money. As a small business owner, if I want to borrow $100k I NEED to figure out how I am going to use that money to buy equipment or do something with the money so that I can pay the money back over time AND make a profit. You can’t just go out and buy crap with it. This is why they don’t give every man woman and child? $10k. Because? you’ll go blow it at Wal-Mart on crap you don’t need, and it will all siphon back to China where we borrowed it from in the first place.
As a Americans we need to look at investment into businesses that will produce something that we can sell to the rest of the world. I am not sure that the government should be the investor. I oppose the government owning pieces of banks, and insurance, and auto manufactures, etc… I think that we should be creating incentives for private investment, I think it’s a better way to get us out of this mess. It may talk longer but it is more of a long term solution and will not saddle our country with massive amounts of dept and devalue our currency. As the rest of the word devalues their currency we could be strengthening ours, this may stifle their ability to buy stuff from us but we could own them.
-Erik
Sadly, as is usually the case with Stephanopoulos, he is too busy running his mouth and I think he talks right over the point. Not that it would sink in anyway.
I like a politician who speaks plainly and makes sense. Notice he did not use a teleprompter or speak in platitudes. Mr. Steele is a good speaker,? I hope to see more of him. I hope to hear more of him. We (the old school Americans) need common sense talk out there, allies speaking common sense to the public in their language. Mr. Steele can further the American cause by continuing to speak for the voice of personal liberty and freedom. It is also great that his is black, the media cannot accuse him of being a racist when he speaks out against policy/legislation coming from the liberal administration. Stephpanopoulos may not get it, but I am sure the American people will, and that is what matters. The common man has the power to effect change if only they would act.
Congratulations, Mr. Steele on being our first black RNC I wish you much success.
** Congratulations, Mr. Steele on being the first black RNC chairman, I wish you much success.
fro
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Roubini: Anglo-Saxon model has failed
By FT Reporters
Published: February 9 2009 15:35 | Last updated: February 9 2009 15:35
The Anglo-Saxon model of supervision and regulation of the financial system has failed, Nouriel Roubini, chairman of RGE Monitor and professor of economics at New York University, told the Financial Times on Monday.
Answering questions from FT.com readers, Prof Roubini, who is widely credited with having predicted the current financial crisis, said the supervisory system ?relied on self-regulation that, in effect, meant no regulation; on market discipline that does not exist when there is euphoria and irrational exuberance; on internal risk management models that fail because ? as a former chief executive of Citi put it ? when the music is playing you gotta stand up and dance.?
?All the pillars of Basel II have already failed even before being implemented,? he added, referring to the internationally agreed set of banking regulations that are forcing banks to set aside more capital to maintain their existing lending.
Prof Roubini also predicted that it was possible another large bank could fail, saying: ?In many countries the banks may be too big to fail but also too big to save, as the fiscal/financial resources of the sovereign may not be large enough to rescue such large insolvencies in the financial system?.
He also criticised the US and UK approach to bank bail-outs, comparing it with attempts by Japan in the 1990s to solve its banking crisis. ?The current US and UK approach may end up looking like the zombie banks of Japan that were never properly restructured and ended up perpetuating the credit crunch and credit freeze,? he said.
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Steele is right: government is best when it stays out of the way.? The assumption by Stephanopolous and the rest of the liberals that only government can solve this economic downturn is only true if you are a socialist or a communist.? Is there any great country that has nationalized all of its industries and assets??? I don’t think so.
I would love to hear the phone call between Steffie and Emanuel tonight….
Classic Liberal cognitive dissonance.