HUNDREDS of Economists do NOT agree that more government spending will help economy

blackascoal said:
QUESTIONS: Why is deficit spending so vital an issue for republicans NOW when they never cared about it when they were in charge .. as they never cared about balanced budgets?

How many of these "hundreds of economists" agreed with Bush policies, like tax cuts while you're fighting two wars, then?
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Cato was always against the Iraq war, I haven't heard too many economists endorse it.

It's always been a vital issue for me, just not for enough Repubs in power who became addicted to power.
 
blackascoal said:
QUESTIONS: Why is deficit spending so vital an issue for republicans NOW when they never cared about it when they were in charge .. as they never cared about balanced budgets?

How many of these "hundreds of economists" agreed with Bush economic policies, like tax cuts while you're fighting two wars, then?
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Right on Target.

Also how many of those same economists thought the junk mortgate market was a good idea?
 
Mottleydude said:
That's correct. They also argued for eliminating paygo along with the Bush tax cuts. Boy, sure is a lot of credibility there! (/sarcasm)
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I hope we are not assuming that all these economists are automatically Bush favoring economists are we?
If so produce proof. My experience is Cato has been dead on consistent in hammering Bush and Repubs over spending. They are not a Conservative institute and recently praised Obama for closing Gitmo.
 
Dungheap said:
I am just pointing out that getting hundreds of economists to sign something isn't indicative of much of anything other than the fact that you get a small percentage of people in any profession to sign just about anything.
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Actually it is quite a lot for any statement of a group of economists. Again how many do you see voicing support for long discredited Keynesian bullshit economics? Statement for them?
 
"You know this is interesting because years back I encountered quite a few on the left who thought Americans were too material and buy too much shit, VERY common observation from lefties and you know, I don't agree with it but they had a point. Look at savings rates, look at an aging populace and the coming debt, you CANNOT substain an economy by propping up consumer spending. Personal AND state debt will eventually have to be dealt with.
Worse it is being substained in the worst possible manner with funding of bad mortgages, bad investments and bad choices really."


Like it or not, our economy is nothing without consumer spending. It drives everything.

There is more than one kind of consumer spending. There is spending as we have see over the past decade or so - people spending more than they have, and borrowing against overinflated home values, without saving; that is not good spending.

Then, there is the kind of spending that has driven the American economy for most of the past century; that is essential.

No economist has been able to explain to me yet how consumers will just start spending again without gov't leading the way. Without gov't investment, there is an excellent chance that they downward spiral will just continue, and the economy will lose far more than the $850 billion in this package.
 
KingCondanomation said:
Actually it is quite a lot for any statement of a group of economists. Again how many do you see voicing support for long discredited Keynesian bullshit economics? Statement for them?
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Dano - Your hundreds represents an overwhelmingly small percentage of economists. I'd be shocked as shit if it represented 1% of American economists. (I checked, there are roughly 25,500, excluding finance and business professors.) Pretending that there is lots of opposition among economists based on 1% of them is brain-dead stupid and, as such, expected from you.
 
Mottleydude said:
You might help your case if you didn't site a right wing propaganda organization. It brings you're objectivity totaly into question.
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I think you are greatly confusing true libertarian free market principles with the right-wing. There is quite a bit CATO and Republicans do not agree on.
 
Dungheap said:
Dano - Your hundreds represents an overwhelmingly small percentage of economists. I'd be shocked as shit if it represented 1% of American economists. (I checked, there are roughly 25,500, excluding finance and business professors.) Pretending that there is lots of opposition among economists based on 1% of them is brain-dead stupid and, as such, expected from you.
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Same thing he does w/ global warming.

If even a small group disagrees, it's "vigorous disagreement" among those in the field...
 
I'd just add that I understand your point, not everyone agrees, but don't overstate your case by boldly pronouncing the HUNDREDS do not agree as though it represents anything close to the majority opinion.

It's kind of like how I get pissed of when people claim that no one saw the housing bubble burst or the recession coming. Actually, people did see it coming. They were just ignored and/or marginalized. Bu they were nothing close to a majority and I wouldn't pretend that they were.
 
Dungheap said:
Dano - Your hundreds represents an overwhelmingly small percentage of economists. I'd be shocked as shit if it represented 1% of American economists. (I checked, there are roughly 25,500, excluding finance and business professors.) Pretending that there is lots of opposition among economists based on 1% of them is brain-dead stupid and, as such, expected from you.
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Again, it is hard to get the majority of people to sign onto anything. And again this does prove that there are more KNOWN economists that agree with Obama and his Keynesian approach than KNOWN economists that disagree.
You are relying on the disingenuous fallacy that the majority that did not sign must agree with the opposite point of view.

This isn't just a quantity argument anyway, look at the quality of those on the statement, it includes nobel laureates, how many nobel laureates in economics are alive today?
 
Reason it through people. Stimulus is artificial. What we need are permanent manipulations of the market that keep americans in the loop of production and demand. This stimulus plan will be finite, meanwhile nobody is paying attention to the advancement of globalization implementation and it's subsequent race condition to the bottom.
 
Without fundamental changes in America, there is no way to stop our economic decline in the long run. We may slow it or help offset the recent finiancial rape of America, but our levels will at best decline in the direction of those we do business with.

Yes quote GDP growth in China or India, but do we really want to live like them?
 
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