Cash for Clunkers - Good or Bad Idea?

4110 messages, Last post on Nov 23, 2009 at 11:42 AM

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#4054 of 4110 Re: Rewarded the jerks for driving huge gass suckers [newdavidq] by gagrice Nov 08, 2009 (7:20 pm)
Replying to: newdavidq (Nov 08, 2009 6:32 pm) Paul Krugman is another goofy Keynesian follower like BO. Not worth the time to read his ignorance. Sadly we have people in power that believe that crap. So we end up with trying to spend our way out of debt. A doomed idea from the start. Think Joe Biden a lawyer in politics for 36 years with a net worth of $27,000. I am sure going to take his advice, NOT..... Replies to this message: kdhspyder (Nov 09, 2009 5:57 am) gagrice (Nov 09, 2009 6:29 am) srs_49 (Nov 09, 2009 8:26 am) kdhspyder (Nov 09, 2009 2:33 pm) and 10 more...
#4055 of 4110 Re: Rewarded the jerks for driving huge gass suckers [newdavidq] by explorerx4 Nov 08, 2009 (7:23 pm)
Replying to: newdavidq (Nov 08, 2009 6:32 pm) the C4C buyers were the ones working and paying for plenty of others who were not. it's unfortunate because many of those not working would like to.
#4056 of 4110 Re: Rewarded the jerks for driving huge gass suckers [newdavidq] by hpmctorque Nov 08, 2009 (9:39 pm)
Replying to: newdavidq (Nov 08, 2009 6:32 pm) "Paul Krugman, a respected economist? Because the Swedes gave him a Nobel prize? They gave one to Arafat, Jimmy Carter, Gore and Obama, to name a few other questionable recipients." Yes, and the Nobel prize wasn't awarded to some deserving candidates. For example, Ghandi never received the Peace Prize. Replies to this message: plekto (Nov 09, 2009 1:09 am)
#4057 of 4110 Re: Rewarded the jerks for driving huge gass suckers [hpmctorque] by plekto Nov 09, 2009 (1:09 am)
Replying to: hpmctorque (Nov 08, 2009 9:39 pm) Given Nobel's background and the fact that the parent company was (and still is, even if the ties are much smaller now than after WWII) among the largest arms manufacturers in Germany, I seriously doubt if Ghandi would have accepted the award.
#4058 of 4110 Re: Rewarded the jerks for driving huge gass suckers [gagrice] by kdhspyder Nov 09, 2009 (5:57 am)
Replying to: gagrice (Nov 08, 2009 7:20 pm) Actually the entire developed world is following Keynesian theory right now. It's not a few local economists and pols. Every industrial country in the world is following it. While I respect your credentials... ... you actually are in the minority and your opinions are being ignored. We move on. Replies to this message: gagrice (Nov 09, 2009 6:29 am) srs_49 (Nov 09, 2009 8:26 am) kdhspyder (Nov 09, 2009 2:33 pm) steve_ (Nov 09, 2009 2:59 pm) gagrice (Nov 09, 2009 4:22 pm) and 8 more...
#4059 of 4110 Re: Rewarded the jerks for driving huge gass suckers [kdhspyder] by gagrice Nov 09, 2009 (6:29 am)
Replying to: kdhspyder (Nov 09, 2009 5:57 am) I have a hard time accepting the following ideas. They are the principles that Carter used to acerbate the recession of the late 1970s with huge inflation. It took Reaganomics 3 years to straighten out. I don't mind being in the Minority when you look at the Majority of our current Congress. The Keynesian cures: * Inflation to force real wage rates down * A central bank to lower interest rates, which reduces savings. * Governments using fiscal stimulus, even running deficits, to stimulate current consumption. Read the book This debate further exemplifies just how divided this country is. Replies to this message: srs_49 (Nov 09, 2009 8:26 am) kdhspyder (Nov 09, 2009 2:33 pm) steve_ (Nov 09, 2009 2:59 pm) gagrice (Nov 09, 2009 4:22 pm) kdhspyder (Nov 09, 2009 4:50 pm) and 2 more... plekto (Nov 09, 2009 6:40 pm)
#4060 of 4110 Re: Rewarded the jerks for driving huge gass suckers [gagrice] by srs_49 Nov 09, 2009 (8:26 am)
Replying to: gagrice (Nov 09, 2009 6:29 am) Reaganomics had nothing to it with it. It was Paul Volcker, appointed by Jimmy Carter and reappointed by Reagan who raised the interest rates in order to wring stagflation (which he inherited from the Nixon/Ford administration) out of the economy. Yes, it was painful, but it had to be done. Even your reference implies that deficit spending is OK in order to stimulate the economy, just not a continuous stimulus. Re: "You cannot pump-prime an economy perpetually, stimulate consumption, and not suffer any negative consequences," a statement with which I happen to agree.
#4061 of 4110 Re: Rewarded the jerks for driving huge gass suckers [gagrice] by kdhspyder Nov 09, 2009 (2:33 pm)
Replying to: gagrice (Nov 09, 2009 6:29 am) Right now is the first time that true Keynesian priciples have been applied to a true crisis. His theories were developed after the Great Depression but there hasn't been a time til now that's been as severe. Again every major economy in the world is employing Keynsian methods right now...even as late as this week. As reported by the NYT today.... http://www.nytimes.com/2009/11/10/business/10markets.html?_r=1&ref=business quote: Shares on all three continents rose after finance ministers said over the weekend that they would push ahead with efforts to revive economic growth through interest rates and increased government spending. The Dow Jones industrial average ended the day more than 200 points higher unquote: That's a majority. You remain in a small ineffective minority notwithstanding any support you might muster for your viewpoint. Replies to this message: steve_ (Nov 09, 2009 2:59 pm) gagrice (Nov 09, 2009 4:22 pm) kdhspyder (Nov 09, 2009 4:50 pm) berri (Nov 09, 2009 5:59 pm) and 1 more... plekto (Nov 09, 2009 6:40 pm)
#4062 of 4110 Re: Rewarded the jerks for driving huge gas suckers [kdhspyder] by steve_ HOST Nov 09, 2009 (2:59 pm)
Replying to: kdhspyder (Nov 09, 2009 2:33 pm) This opinion piece from the Wall St. Journal makes a nice counterpoint I think (quoting von Mises, who's come up in here before). The Journal seems to flog the author's Universa fund quite a bit, so, as usual, don't completely lose the salt shaker.
#4063 of 4110 Re: Rewarded the jerks for driving huge gass suckers [kdhspyder] by gagrice Nov 09, 2009 (4:22 pm)
Replying to: kdhspyder (Nov 09, 2009 2:33 pm) Shares on all three continents rose Because there is a total lack of confidence in the US dollar and our ability to stabilize our economy. “A lot of it is sentiment-driven and there the dollar is getting a vote of no confidence,” Mr. Dolan said. “The massive borrowing by the U.S. government is undermining confidence in the longer-term outlook for the dollar.” I have no faith that this Congress and Administration will do anything to correct the problems. We continue to lose jobs. Consumer confidence has not risen. The stimulus is not doing as it was hoped for. So if they are using Keynesian principles they don't seem to be working. The deficit this year alone will surpass the total of the last 10 years. I have to assume you have no children or grandchildren that will be buried under this load of debt. Replies to this message: kdhspyder (Nov 09, 2009 4:50 pm) berri (Nov 09, 2009 5:59 pm) kdhspyder (Nov 09, 2009 6:48 pm) plekto (Nov 09, 2009 6:40 pm)