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(BBC)   Britain decides one recession wasn't enough, goes back for the double-dip   (bbc.co.uk) divider line 123
    More: Sad, UK economy, Ed Miliband, Office for National Statistics, public spending, Britain, private data  
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1488 clicks; posted to Politics » on 25 Apr 2012 at 6:34 PM (3 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-04-26 06:34:27 AM  

GAT_00: FlashHarry: austerity is the opposite of what you should do during an economic downturn. you spend in bad times and pay it back in good. this has been proven to work.

And Britain has been arguing for austerity as the cure harder than anyone else. If this doesn't disprove that austerity is the solution, nothing will.


1. Continuing to increase spending as UK did is NOT AUSTERITY.

2. If you dont understand point #1, youre arguing that no country can avoid bankruptcy except by defaulting on debt, divide by potatoee.
 
2012-04-26 06:40:20 AM  

CmndrFish: MattStafford: We're misallocating resources towards ditch diggersdefense contractors and people associated with ditch diggers defense contractors. Imagine if the government borrowed 500 billion dollars a year and spent it on digging and filling up ditches blowing up Middle Eastern countries. Don't you think it would massively distort the economy? Ditch digging defense companies would be monstrous and be able to wield massive amounts of influence in Washington. In addition, they would employ so many people that niche industries would pop up just to serve the ditch diggingdefense companies. In addition, where the big ditch fields military bases where entire communities would spring up offering services to the ditch digging employees soliders and contractors. All of this for an industry that produces nothing of value destroys. That is what I mean by misallocating resources.

I don't have to imagine any of this. It already exists.

Pay $500 billion to build some roads. When the show's over, you still have a infrastructure to show for it.

Pay $500 billion to occupy countries and wield unnecessary amounts of hard power. When this show's over, we'll have nothing to show for it.


GW Bush's mistakes are a poor excuse for Obama's after 3 years. Now the leading lib columnist are talking like Jimmyy Carter, 'the future is permenently bleak for U.S. economy'.


All total bullshiat.
 
2012-04-26 06:50:17 AM  
 
2012-04-26 07:03:23 AM  

Msol: A really good article about all this stuff. You might want to blame Germany after reading it.

Read pages 14-24 and 32-43 for the relevant bits.


Reads like a rambling, irrational polemic against economists who didnt embrace the Gospel of Keynes (which now apparently has little relationship to what Keynes actually said).

Germany suffered a decadevago while reducing debt-to-GDP, Japan did the opposite.

Who has the economy that is suffering now???

Germans know what happens when you accumulate disastrous levels of debt and turn to currency inflation.

Greece and Spain are f'd up because their socialist govts engaged in fiscal mismanagement.
 
2012-04-26 07:04:11 AM  

Porsche914: We'll be right behind them, if we don't get the socialist out of the White House re-elect Obama and instead vote in some economically retarded Republicans willing to make the same mistakes only on a grander scale..


FTFY.
 
2012-04-26 07:09:30 AM  

Animatronik: Msol: A really good article about all this stuff. You might want to blame Germany after reading it.

Read pages 14-24 and 32-43 for the relevant bits.

Reads like a rambling, irrational polemic against economists who didnt embrace the Gospel of Keynes (which now apparently has little relationship to what Keynes actually said).

Germany suffered a decadevago while reducing debt-to-GDP, Japan did the opposite.

Who has the economy that is suffering now???

Germans know what happens when you accumulate disastrous levels of debt and turn to currency inflation.

Greece and Spain are f'd up because their socialist govts engaged in fiscal mismanagement.


Hm, I found more of a summary of what actually happened. Whether or not the right thing happened isn't really the point of the article. It's been a few weeks since I read it in its entirety though.
 
2012-04-26 07:11:37 AM  

quatchi: Porsche914: We'll be right behind them, if we don't get the socialist out of the White House re-elect Obama and instead vote in some economically retarded Republicans willing to make the same mistakes only on a grander scale..

FTFY.


"Lets re-elect Obama, because he's the only politician who can fix the problems made worse by Obama, by massively increasing our debt-to-GDP."

"The Other Guys Will Be Worse".


Don't think so. Keep trying, maybe you'll come with something that sticks.

How about, "paying people more to be unemployed than they could earn actually stimulates the economy!"



The irrationality of liberal Keynsians today has no parallel in U.S. history. You have to go back to the tulip bubble in Europe.
 
2012-04-26 07:13:27 AM  

Animatronik: 'the future is permenently bleak for U.S. economy'


"The solution of our energy crisis can also help us to conquer the crisis of the spirit in our country," the president said, asking Americans to join him in adapting to a new age of limits.

But he also admonished them, "In a nation that was proud of hard work, strong families, close-knit communities and our faith in God, too many of us now tend to worship self-indulgence and consumption. Human identity is no longer defined by what one does but by what one owns."

Carter talked to the American people like they were adults.

That was a mistake.

The so-called Malaise speech in hindsight look prescient.

Rather than go on with another term of someone honestly committed to seeing and solving the problems of a nation in decline America decided to go with the nice grandpa-looking guy who spoke in genial generalities telling people what they wanted to hear rather than what they needed to hear.

Face it. The 1980 election were an intelligence test for the American people and you guys failed.

See also 1984, 2000, 2004 & 2010 mid terms.
 
2012-04-26 07:15:32 AM  

Msol: Animatronik: Msol: A really good article about all this stuff. You might want to blame Germany after reading it.

Read pages 14-24 and 32-43 for the relevant bits.

Reads like a rambling, irrational polemic against economists who didnt embrace the Gospel of Keynes (which now apparently has little relationship to what Keynes actually said).

Germany suffered a decadevago while reducing debt-to-GDP, Japan did the opposite.

Who has the economy that is suffering now???

Germans know what happens when you accumulate disastrous levels of debt and turn to currency inflation.

Greece and Spain are f'd up because their socialist govts engaged in fiscal mismanagement.

Hm, I found more of a summary of what actually happened. Whether or not the right thing happened isn't really the point of the article. It's been a few weeks since I read it in its entirety though.


No, its not a summary of anything except the doings of ppl who rejected the Gospel of Keynes as promoted by His acolytes. Its not based on reality, its a stupid polemic that makes fine reading for ppl who lack critical thinking skills.
 
2012-04-26 07:26:17 AM  

quatchi: Animatronik: 'the future is permenently bleak for U.S. economy'

"The solution of our energy crisis can also help us to conquer the crisis of the spirit in our country," the president said, asking Americans to join him in adapting to a new age of limits.

But he also admonished them, "In a nation that was proud of hard work, strong families, close-knit communities and our faith in God, too many of us now tend to worship self-indulgence and consumption. Human identity is no longer defined by what one does but by what one owns."

Carter talked to the American people like they were adults.

That was a mistake.

The so-called Malaise speech in hindsight look prescient.

Rather than go on with another term of someone honestly committed to seeing and solving the problems of a nation in decline America decided to go with the nice grandpa-looking guy who spoke in genial generalities telling people what they wanted to hear rather than what they needed to hear.

Face it. The 1980 election were an intelligence test for the American people and you guys failed.

See also 1984, 2000, 2004 & 2010 mid terms.


Lol.

If Only Carter had embraced Keynes, he never would have made that speech!!!

Liberals fark up economies because they dont understand the private sector, what stimulates creative people to be more creative; and the favor massive govt economic programs because they operate from ideology rather than a rational assessment of economic forces operating on a global scale.
 
2012-04-26 07:32:21 AM  

Dinki: Oh man, this is good. Can't wait to hear what Krugman has to say about this.

/All he needs to say is "told you so"


2.bp.blogspot.com
 
2012-04-26 07:32:58 AM  

Animatronik:
"Lets re-elect Obama, because he's the only politician who can fix the problems made worse by Obama, by massively increasing our debt-to-GDP."


Medicare Part D, Two wars off the books and tax cuts make up the bulk of "Obama's deficit".

90% of America's deficit can be laid directly at the feet of Reagan, Bush the Elder and Bush the Lesser.

Try again.
 
2012-04-26 07:35:51 AM  

Animatronik: If Only Carter had embraced Keynes, he never would have made that speech!!!


[quizzicaldog]

Liberals fark up economies because they dont understand the private sector, what stimulates creative people to be more creative; and the favor massive govt economic programs because they operate from ideology rather than a rational assessment of economic forces operating on a global scale.

The idea that conservatives have a better handle on business and the economy in general is the biggest lie the Devil ever made massive numbers of people believe.

The facts simply don't back that absurd notion up, quite the opposite.
 
2012-04-26 08:55:58 AM  

Animatronik: I failed economics 101

Oh please. You didn't even TAKE economics.

 
2012-04-26 09:14:54 AM  

Animatronik: Liberals fark up economies because they dont understand the private sector, what stimulates creative people to be more creative; and the favor massive govt economic programs because they operate from ideology rather than a rational assessment of economic forces operating on a global scale.


If you think that conservatives perform better economically then you may want to stop gnawing on the furniture and acquaint yourself with the actual real world.

Seriously, if you think conservatives handle the economy better then you're most likely functionally retarded.
 
2012-04-26 09:43:03 AM  

Tumunga: but when the good times start, the libtards don't wanna pay anything back.


i know! just when you have a projected surplus, they just want to give it back to the people in the form of tax cuts! after all, "it's your money!"

damn that libtard bush!
 
2012-04-26 09:50:55 AM  

FlashHarry: Tumunga: but when the good times start, the libtards don't wanna pay anything back.

i know! just when you have a projected surplus, they just want to give it back to the people in the form of tax cuts! after all, "it's your money!"

damn that libtard bushia


though if I recall correctly, Gore wasn't exactly advocating paying back the national debt, either.
 
2012-04-26 10:01:51 AM  
You mean the people who have high monetary utility have no money and the economy is going nowhere? I don't understand how this could happen?! I thnk UK workers need a round of pay cuts and layoffs.
 
2012-04-26 11:22:06 AM  

CmndrFish: MattStafford: We're misallocating resources towards ditch diggersdefense contractors and people associated with ditch diggers defense contractors. Imagine if the government borrowed 500 billion dollars a year and spent it on digging and filling up ditches blowing up Middle Eastern countries. Don't you think it would massively distort the economy? Ditch digging defense companies would be monstrous and be able to wield massive amounts of influence in Washington. In addition, they would employ so many people that niche industries would pop up just to serve the ditch diggingdefense companies. In addition, where the big ditch fields military bases where entire communities would spring up offering services to the ditch digging employees soliders and contractors. All of this for an industry that produces nothing of value destroys. That is what I mean by misallocating resources.

I don't have to imagine any of this. It already exists.

Pay $500 billion to build some roads. When the show's over, you still have a infrastructure to show for it.

Pay $500 billion to occupy countries and wield unnecessary amounts of hard power. When this show's over, we'll have nothing to show for it.


Agreed, that is why I used the 500 billion figure. There isn't a greater example of awful spending than our defense dept. I guess at the very least we got the internet out of it?

Even if you have 500 billion dollars worth of roads, they better be going somewhere. Otherwise, its just as much of a waste.
 
2012-04-26 02:58:53 PM  

FlashHarry: Tumunga: but when the good times start, the libtards don't wanna pay anything back.

i know! just when you have a projected surplus, they just want to give it back to the people in the form of tax cuts! after all, "it's your money!"

damn that libtard bush!


But Bush is bad, right?
 
2012-04-26 03:00:26 PM  

FlashHarry: austerity is the opposite of what you should do during an economic downturn. you spend in bad times and pay it back in good. this has been proven to work.


Interesting how in good times it's, "Hey, we're doing great, this is no time to be stingy," and in bad times it's, "Hey, we can't afford to spend less when people are hurting." No matter what time it is, it's time to spend ever-more-vast amounts of money.

i48.tinypic.com
 
2012-04-26 05:37:50 PM  

winterwhile: CaptainCliche: So, lets look at this.

UK: Conservatives in charge enact sweeping austerity measures, double dip ensues.

US: Center RIght Conservatives (Democrats) do not enact sweeping austerity measures, and economy rebounds, albeit slowly.

Basically takes the air out of the tires of Mitt's only pitch of "Obama slowed down the recovery." Seems like cutting spending levels as deep as the Republicans would have crashed us onto the rocks.

Of course, don't expect Mittens or Fox to admit that.

yea, funny, the great depression had big spending

it did nothing, except make the depression last longer

then again Obama wants that to happen, everone to be on the gov dole


No, that spending was turning the situation around.

Then the Republicans harped about the deficit, the 1937 budget slashed spending, the recovery stalled.

Then Europe started gearing up for war, governments spent massive amounts, and economies revovered fully.

Oh, and all that debt? In 1947 our debt peaked at 120% of GDP. Did that bankrupt the baby boomers?
 
2012-04-26 05:45:18 PM  

soy_bomb: theknuckler_33: Positive job growth for over 24 straight months after about 18 months of job losses including 6 months of losing well over 600K jobs per month is NOT considered stimulating the economy.
You heard it here first folks! Take THAT to the bank!

As long as you ignore the Labor Participation Rate, you are 100% correct. Great job!

/best time ever for recent college graduates!


Look at the labor patticipation rate broken down by age category.

Oh look, from 30-60 its pretty constant. Younger people are staying in school longer (or deciding to go to post-secondary in the first place). Older workers are retiring a little sooner.

Both are good for the economy, especially the former as it reprrsents an investment in human capitol.
 
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