Well..in an eye opening set of events that have happened over the past quarter have proven Keynes and me right on the failure of the austerity programs in Europe to lead to economic growth. I do want to say “I told you so” just because Keynes predicted that cutting spending during a recession would lead to lower growth, but also because the repubs here in the US are advocating exactly the same policies here…which will lead to exactly the same results that we now see in Europe…that the economies like Spain and England, who have made some of the largest cuts, are falling back into the first double dip recession in 40 years. New predictions that I read somewhere today (it may have been in the Guardian or the Post) put the predictions of European growth with the austerity programs in place at -.3% to flat or no growth in comparison to the US’s predicted growth of 1.8 to 2.9%. This just shows the the general Keynesian rule of running deficits while in a recession or a slow growth period is absolutely necessary to jump start the economy and these can be paid for when the economy gets to sustainable growth. I just wish the repubs would open their econ 101 textbooks and read a little…if they can read, that is…geez….
Tag Archives: double-dip recession
I was going to do a political one….
Well…I was going to do a political one today but I am still in a state of disgust with all politicians…okay, not all of them..but all of the repubs for sure and even some of the dems who seem to think that compromise is giving the repubs everything they want and ignoring the wants of the people that elected them. The polls show that people do not want what the repubs are selling; the gutting of the last vestiges of the social safety net that still remain for more and more tax breaks for the rich and business. We are starting to see what the repubs vision is doing to America with the prospects of another recession growing every day, caused by how they have slashed the incomes of the middle class to the point that the economy can’t grow because no one but the rich can afford to spend anything. The latest figures show that middle class has lost over 7% of their income over the past 4 years while the income of the top 10% has grown by over 40% in that same time period. And the repub idiots continue to scream that the dems are all about class warfare…when they are the ones who have unleashed warfare on the middle class and poor and will not be satisfied until everyone but them is living in poverty….geez….
Oh, I guess this was a political one….I never know where the brain is going to lead me once I get started….
One last thing…where are the jobs gov Snyder?
More and more wandering…
Well…I really haven’t been able to come up with a topic that will fill a whole one of these so I think I’m just going to wander around a bit again….man…I didn’t want to be right on the economy, but with what we’ve seen over the last month or so, with the Dow losing almost 10% and growth down to 0….it looks like my prediction of a double dip recession is coming true…not good for someone still looking for work. The gridlock in Washington isn’t helping and with the crazy right wingers calling the shots, there will be no more stimulus and the layoffs are going to start on the state and local levels….nope, too much doom and gloom….have to stop so I don’t go over the edge….
What else? Hmmmm…can’t think of anything right now but after I watch Jon Stewart here in a minute, I may get my brain stimulated enough to add….so, come back for a sec later and see….
Okay, let’s just call it a day…nothing’s working…I think I may just have come to the point of bad news overload and railing against it will take more energy than I have so I am going to bid you adieu for the day…..but, who knows…inspiration may strike again and rally me from this ennui…I will probably have to start using placeholders again if this block doesn’t break….
Let’s go double dipping…
Well….it didn’t take long for the business and investment community to react to the debt bill by laying off thousands of workers and starting a huge selloff in stocks….what these idiot tea partiers have done is drive this country back into recession by their nonsensical budget cuts in a time of economic weakness…and I will predict right now that this dip is going to be just as severe as the super recession was and it looks like the prospects of me ever finding a job has just disappeared as business is going to sit on their money and not hire since demand is going to plummet. What excuse are the tp’ers going to make up when all of their beliefs on the economy are shown to be wrong? That the cuts weren’t big enough? Idiocy is still idiocy….and these people have the corner on it…what are their corporate masters going to do when their business is hurt deeply by this crap?
The second thing I wanted to talk about is the effort by the Koch brothers and their minions to steal the recall elections in Wisconsin by sending fake absentee ballots that have the wrong date of the election on it. Yep, that’s true…the repubs are using their favorite tools to steal elections in plain sight in Wisconsin…voter suppression with the fake enforcement of the new voter ID law (that doesn’t take effect until January 1st) and misleading voters to keep them from the polls. Haven’t we, as a people, had enough of this nonsense yet? We do need to take our country back from the thugs in the repub party that sanction this stuff. Geez….
This is a day for shorties…
Well…it appears that the thoughts are coming in small bites today so that what is coming out and I guess I’ll just live with it…I don’t know if it is too soon to say I told you so…but a couple of months ago I predicted that without a continuing stimulus program that included additional government spending on infrastructure and other projects such as schools, roads, and high speed internet, that the economy would head back into recession and that is just what is happening. No matter what the repubs would have you believe, Keynesian economics and its principles that have been proven time and again over the years to be correct cannot be denied just because it goes against the orthodoxy of the repub party. And, they are compounding the problem by doing just what they did in the great depression…cut too much spending before the economy was self-sustaining. You know where this is going to go don’t you? These repub know-nothings are going to try to blame this on overspending by Obama…but, there appears to be a building groundswell of buyers remorse about the repubs control of the House and their radical right-wing agenda. Hope so….geez…
Oh, one last thing…if the business world truly believed the fantasy of the repubs economic policies, wouldn’t they still be hiring to get out ahead of the boom that is supposed to be coming? Business truly knows that the policy of cutting spending during a recession is wrong headed and they are predicting the results that are coming by not hiring any more people that they will just have to lay off when the second dip comes…stupid, stupid repubs…