you guys must be having a fucking slow news week...
Not really; consumer spending up for May, housing starts up for May,new jobless claims down for Mayand another one of the repugnicants God-squadding "family values" frauds got caught diddling a staffers' wife.Holy-Rolling 2012 hopeful name of Ensign.
Just bad news all around for the Fail America Goppers.
Argh. I feel so argumentative on this board. But ok.
The complaint that any coherrent GOPer is going to give isn't that the stimulus and all this crap won't provide short term confidence and have a short term increase.
The problem is we can't keep printing money without repurcussions down the road as we actually
start to spend the money we said we'd spend.
Especially since we're not backed with Gold, we need countries to buy up our debt to maintain the value of the dollar. Up until this point, China has been by far the biggest buyer, but they're starting to get some cold feet about buying a lot more.
The
instant no one buys our debt anymore, we're 100% fucked. When the money we're making is so disproportional to the money we're spending, we lose more than just the money we spent. That money itself loses value. So as we start to print out more money in the coming years, we'll get to see what the actual long term affects are.
Really it's almost a metaphor for the housing crisis, where something was valued too high and property was used almost as money itself(it was considered so stable), then the bottom dropped out, values plummeted, and while X used to be worth Y, we still own X but now it's worth Z.
While Obama had few choices in the economic fiasco(many shitty things were necessary), a lot of the choices he has made weren't good. They just transferred the instability of the companies to the government. So now instead of companies at a massive deficit, it's the government at the same deficit.
We didn't get rid of the problem, we shifted it over and delayed it for a few years. Granted, we may be able to do something with that time to position ourselves better. But motions have been going the opposite direction.