Socialism Experiment Topic

tecwrg
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Posted by bad_luck on 3/5/2013 2:07:00 PM (view original):
Layoffs are a slowdown in spending. All spending is what matters. Aggregate demand.

What part do you not understand? Yes, lots of crazy things happened in real estate and in finance immediately before that caused layoffs. What puts us in a recession, though, is lack of demand. And what gets the economy back to full strength is a resurgence in demand.


I understand this much better than you do, because I understand how cause leads to effect.

You continue to insist that the recession was caused by a slowdown/stoppage in spending.

I'm pointing out that the slowdown/stoppage in spending was merely a single domino towards the end of a long line of already falling dominos, i.e. the crashing economy.

You're too damn stubborn to admit that's the case, and back off your overly myopic view of things.

And you've still never answered whether you were comatose when all this was happening in 2008.  That could explain why you don't understand it.
3/5/2013 2:56 PM
MikeT23
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Posted by bad_luck on 3/5/2013 2:47:00 PM (view original):
Posted by MikeT23 on 3/5/2013 2:45:00 PM (view original):

And, yes, you don't exist without me.   I wasn't around this weekend.   Posted in the AM on Saturday.   You posted a couple of times the same morning.  Nothing until I came back on Monday.    There's been a dozen or so pages in a day and a half since.    Without me, you don't exist. 

Maybe try disappearing and see what happens.
Better yet, when you get your vacation, we will see what happens.  I'll be here, people will respond.  Unlike this weekend when I wasn't here and no one would argue with you. 
3/5/2013 2:58 PM
MikeT23
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Posted by bad_luck on 3/5/2013 2:47:00 PM (view original):
Posted by MikeT23 on 3/5/2013 2:46:00 PM (view original):
Pass.  I've watched tec attempt to explain cause/effect to you for 10 pages.   You're not going to get it. 
Or you couldn't explain it if your life depended on it.
I don't have to.   I could copy/paste one of tec's 25 posts on it and you'd still say "Yeah, but people stopped spending and that's why there was a recession!!!"

I know pointless when I see it.
3/5/2013 2:59 PM
toddcommish
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Posted by bad_luck on 3/5/2013 9:24:00 AM (view original):
Keynesian economics is all about rational behavior. If you lose your job, how many new cars will you buy? How much will you increase your food and clothing budgets?

Since I missed this morning's festivities, I didn't get a chance to respond to this.

"Keynesian economics is all about rational behavior".  Therein lies the problem.  Rational people don't buy houses with negative amortization and no potential job/income growth.  Rational people don't finance credit card debt at 24% annually.  Rational people don't eat fast food every day and develop ailments that require health insurance to cover.  Rational people don't think the world is only 10,000 years old (just had to open that can of worms again).

IOW, Keynesian economics DON'T ******* WORK given the continued irrational behavior of American consumers.

3/5/2013 3:01 PM
bad_luck
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Posted by tecwrg on 3/5/2013 2:56:00 PM (view original):
Posted by bad_luck on 3/5/2013 2:07:00 PM (view original):
Layoffs are a slowdown in spending. All spending is what matters. Aggregate demand.

What part do you not understand? Yes, lots of crazy things happened in real estate and in finance immediately before that caused layoffs. What puts us in a recession, though, is lack of demand. And what gets the economy back to full strength is a resurgence in demand.


I understand this much better than you do, because I understand how cause leads to effect.

You continue to insist that the recession was caused by a slowdown/stoppage in spending.

I'm pointing out that the slowdown/stoppage in spending was merely a single domino towards the end of a long line of already falling dominos, i.e. the crashing economy.

You're too damn stubborn to admit that's the case, and back off your overly myopic view of things.

And you've still never answered whether you were comatose when all this was happening in 2008.  That could explain why you don't understand it.
The line of dominos is never ending. If you believe toddcommish, it goes back all the way to 1977.

The most proximate cause of the recession was the slow down in spending. Was that slow down caused by other things? Sure. Borrowers were idiots. Lenders were idiots. Banks were idiots. Politicians were idiots.

The thing that has to be fixed to get the economy back to full strength is demand. That's why it's the focus.
3/5/2013 3:06 PM
toddcommish
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Sigh, I told you that it was the changes made during the Clinton administration to the CRA that started the dominoes.

TTKU
3/5/2013 3:09 PM
tecwrg
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Posted by toddcommish on 3/5/2013 3:09:00 PM (view original):
Sigh, I told you that it was the changes made during the Clinton administration to the CRA that started the dominoes.

TTKU
Right.  The Gramm-Leach-Billey Act of 1999, which repealed portions of the Glass-Steagall Act of 1933, started this mess.

Happily signed into law by President William Jefferson Clinton (D).

It's funny how the Democrats jumped all over GWB and company for causing the economic collapse in 2008, when in fact is was their own guy who set up the dominos and tipped the first one.
3/5/2013 3:24 PM
bad_luck
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So you're saying a little government regulation could have helped prevent this mess?
3/5/2013 3:28 PM
tecwrg
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I'm saying deregulation caused it.
3/5/2013 3:34 PM
bad_luck
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Cool.

Fixing it requires demand--demand from anywhere: consumers, businesses, the government. But it has to come from somewhere and cutting spending in order to reduce the deficit reduces demand at the same time.
3/5/2013 3:37 PM
tecwrg
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WTF does government deregulation have to do with government spending, other than sharing the word "government"?
3/5/2013 3:43 PM
tecwrg
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Seriously, you have the logic skills of a four year old child.
3/5/2013 3:44 PM
bad_luck
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Posted by tecwrg on 3/5/2013 3:43:00 PM (view original):
WTF does government deregulation have to do with government spending, other than sharing the word "government"?
I guess you're not concerned with getting the economy back full strength. Must be nice.
3/5/2013 3:48 PM
MikeT23
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As I said, pointless.   He made a dumb statement and rather than say "That's not exactly what I meant", he'll tap dance around the subject until he can chance it.

The arrogant ******* who has a ridiculous desire to be right act is hilarious.
3/5/2013 3:50 PM
rcrusso
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Speaking of arrogant ********.........
3/5/2013 4:00 PM
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