Skip to comments.The End of American Optimism (Mort must be hearing it from his liberal friends)
Posted on 08/16/2010 1:38:29 PM PDT by Hojczyk
Our brief national encounter with optimism is now well and truly over. We have had the greatest fiscal and monetary stimulus in modern times. We have had a whole series of programs to pay people to buy cars, purchase homes, pay off their mortgages, weatherize their homes, and install solar paneling on their roofs. Yet the recovery remains feeble and the aftershocks of the post-bubble credit collapse are ongoing.
We are at least 2.5 million jobs short of getting back to the unemployment rate of under 8% promised by the Obama administration. Concern grows that we are looking at a double-dip recession and hovering on the brink of a destructive deflation. Things are bad enough for Federal Reserve Chairman Ben Bernanke to have characterized the economic outlook late last month as "unusually uncertain."
Are we at the end of the post-World War II period of growth? Tons of money have been shoveled in to rescue reckless banks and fill the huge hole in the economy, but nothing is working the way it normally had in all our previous crises.
(Excerpt) Read more at online.wsj.com ...
I was pretty optimistic when Bush was President except when he was spewing that amnesty sh*t.
Hey Mort Zuckerman - F off.
This has been tried once before - during the Depression - and it didn't work then either. It's just that liberal revisionist history wants to pretend it did.
What does work is cutting taxes and then having government get the heck out of the way.
Yeah. Maybe this is why most serious economists abandoned Keynesianism over 30 years ago.
Of course, as with most liberal doctrines, the proper response when it doesn’t work is to blame it on something else - hence the “new normal”.
Frequently, persons who are experiencing malaise are not optimistic.
But now the new Keynesians think we can borrow our way out of our problems (never mind that is how we got into our problems in the first place).
Absurd at all levels.
and the politicians say ‘more taxes will solve everything’..
and the band played on.
round and round and round we go
where the world’s headed
Ball of confusion (still today)
So Mort thinks Obama’s ‘government guided invisible hand’ isn’t working so well? Imagine that!
I think that allowing foreign exchange student in to get an M.A. in hard science is a neat way to generate college funding.
The rest of us poor grunts had to settle for M.S,’s.
Not that I’m complaining...
Does this bother anybody? That the FedGov can tinker, poke and prod the behavior of the taxpayer with the tax code. I prefer that the FedGov NOT have this right.
This is what happens when libtards manage to get power.
Somehow I missed out on any brief encounter with optimism when Bamby was elected.
You were optimistic while Bush was spending us faster into a deep hole than any other President since WWII? You were optimistic that nothing was done to prevent Social Security or Medicare spending from overtaking the entire US budget? You were optimistic when Bush added to Medicare with prescription drug giveaways? You were optimistic when our trade deficits were skyrocketing and millions of good jobs sent overseas, neer to return? You were optimistic we were fighing a war on 2 fronts without paying for it?
Uh, OK. I have been pessimistic since Clinton's 2nd term, and I acknowledge I was way late to the party.
My optimism disapeared about 6 years ago when my wife, a real estate agent at the time, came home from work and said the rules had changed, allowing people to take out a mortgage that would result in a payment equal to half their monthly income. That was when I realized the whole thing was a ponzy scheme and we were in BIG trouble.
>>Frequently, persons who are experiencing malaise are not optimistic.<<
Yes. Frequently. :)
Zuckie is advocating for amnesty. He bemoans unemployment, then wants to give the few jobs that exist to foreign laborers. Typical know nothing liberal skunk.
For good or bad, chickens will ALWAYS come home to roost. The point is, what do we do about it?
Dud - I do not disagree and the Bushes are RINOs. At least he was an American.
Bush is like the drunkard husband versus Obama is the drunkard husband who also beats the wife. The American public at least wasn’t getting beaten up.
Americans who watch TV support all this s*it because every TV network who owns every TV channel supports the muslim. So if you watch TV or ball games - you support it ALL.
I agree that Obama is far worse than Bush. Far worse on 2 levels.
Politically he wants a hard Socialist government, maybe a Communism government system. Bush was no conservative but he didn’t want outright Socialism.
That is my long term fear. Becoming an immediate fear, is that Obama is repeating the mistakes of the Great Depression and is poised to repeat the mistakes of Weimar Germany.
Bush, at the very least loved his country. Sure, he could have done a better job, but it’s night and day.
Obama doesn’t love his country. How could anyone who loves America attend Rev. Wright’s church for 2 decades?
I miss Bush, he is a good man.
I’m an amateur welder. You don’t form steel or join it together without heating it to the point where unfamiliar onlookers would think you were destroying it. Sparks fly, burning paint makes smoke, the metal becomes red or yellow-white hot. The torch’s flame is blue-white and blinding and fearsome in itself.
Then you do what you need to do. After the metal cools down it’s fine and you have accomplished what could be done in no other way.
We’re now reforming and rejoining some of the pieces of our society. The good work we’re doing doing can’t be done any other way.
Sometimes there are left over scraps. No problem with that.
No it is exponentially worse than that by a magnitude of 100X. He is a stooge and agent for the global caliphate.
The Saudis have investmenst in all 5 TV networks except maybe CBS/Viacom. The idiots who watcxh TV, ball games and reality TV support their future enslavement.
That’s the best part. Keynesianism was never really a theory bought into by American politicians so much as it was an excuse for spending.
Of course, Keynes’s realization that you have to save during the good times wasn’t quite that strong. Keynes subscribed to G.F. Knapp’s chartalist theory that holds (roughly) that money is created by government expenditure, that it derives its sole value from the ability to redeem it to discharge tax obligations, and that the only way to achieve a positive net money supply (and therefore positive net savings) is through government deficit spending.
I’d go into everything wrong with that theory, but better minds than mine, like Hayek and Friedman, have already done so far more thoroughly than I could.
Mo Mort - it is end of America thanks to *****n Democrats and idiots like you who voted for the Sadui king’s boy.