Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

The End of American Optimism (Mort must be hearing it from his liberal friends)
Wall Street Journal Opinion ^ | August 16, 2010 | MORTIMER ZUCKERMAN

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 ...


TOPICS: Business/Economy; Government
KEYWORDS: aliens; immigration; malaise; optimism; zuckerman

1 posted on 08/16/2010 1:38:30 PM PDT by Hojczyk
[ Post Reply | Private Reply | View Replies]

To: Hojczyk

I was pretty optimistic when Bush was President except when he was spewing that amnesty sh*t.

Hey Mort Zuckerman - F off.


2 posted on 08/16/2010 1:41:14 PM PDT by Frantzie (Democrats are the party of Islam.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Hojczyk
nothing is working the way it normally had in all our previous crises.

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.

3 posted on 08/16/2010 1:47:58 PM PDT by dirtboy
[ Post Reply | Private Reply | To 1 | View Replies]

To: dirtboy

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”.


4 posted on 08/16/2010 1:54:36 PM PDT by The Pack Knight (Laugh, and the world laughs with you. Weep, and the world laughs at you.)
[ Post Reply | Private Reply | To 3 | View Replies]

To: Hojczyk
Mort voted for Obama. Thanks a lot, Pal.
5 posted on 08/16/2010 1:54:36 PM PDT by JPG (How much taxpayer $ did Mookie blow today?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Hojczyk

Frequently, persons who are experiencing malaise are not optimistic.


6 posted on 08/16/2010 1:54:39 PM PDT by Steely Tom (Obama goes on long after the thrill of Obama is gone)
[ Post Reply | Private Reply | To 1 | View Replies]

To: The Pack Knight
Even Keynes realized you had to save during the good times to have revenues to spend during recessions.

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.

7 posted on 08/16/2010 2:01:40 PM PDT by dirtboy
[ Post Reply | Private Reply | To 4 | View Replies]

To: Hojczyk

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
nobody knows
Ball of confusion (still today)

So Mort thinks Obama’s ‘government guided invisible hand’ isn’t working so well? Imagine that!


8 posted on 08/16/2010 2:03:03 PM PDT by griswold3 ('Regulation and law without enforcement is no law at all)
[ Post Reply | Private Reply | To 1 | View Replies]

To: griswold3

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...


9 posted on 08/16/2010 2:06:24 PM PDT by benewton (I)
[ Post Reply | Private Reply | To 8 | View Replies]

To: Hojczyk
it furthermore makes no sense that we have reversed the traditional American policy of welcoming skilled immigrants and integrating them into our economy.

Reversed? We take in as many legal immigrants each year as we ever have, and the rules haven't been changed in a long, long time.
10 posted on 08/16/2010 2:11:58 PM PDT by ruination
[ Post Reply | Private Reply | To 1 | View Replies]

To: Hojczyk
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.

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.

11 posted on 08/16/2010 2:13:43 PM PDT by VRW Conspirator ( Where is Hugh Series?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Hojczyk

This is what happens when libtards manage to get power.


12 posted on 08/16/2010 2:16:29 PM PDT by jazminerose
[ Post Reply | Private Reply | To 1 | View Replies]

To: Hojczyk

Somehow I missed out on any brief encounter with optimism when Bamby was elected.


13 posted on 08/16/2010 2:18:31 PM PDT by JaguarXKE
[ Post Reply | Private Reply | To 1 | View Replies]

To: Frantzie
I was pretty optimistic when Bush was President except when he was spewing that amnesty sh*t.

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.

14 posted on 08/16/2010 2:24:28 PM PDT by Freedom_Is_Not_Free (California Bankruptcy in 4... 3... 2...)
[ Post Reply | Private Reply | To 2 | View Replies]

To: Hojczyk

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.


15 posted on 08/16/2010 2:27:38 PM PDT by RobRoy (The US Today: Revelation 18:4)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Steely Tom

>>Frequently, persons who are experiencing malaise are not optimistic.<<

Yes. Frequently. :)


16 posted on 08/16/2010 2:28:21 PM PDT by RobRoy (The US Today: Revelation 18:4)
[ Post Reply | Private Reply | To 6 | View Replies]

To: Frantzie

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.


17 posted on 08/16/2010 2:29:02 PM PDT by Luke21
[ Post Reply | Private Reply | To 2 | View Replies]

To: Hojczyk

For good or bad, chickens will ALWAYS come home to roost. The point is, what do we do about it?


18 posted on 08/16/2010 2:35:19 PM PDT by New Jersey Realist (Congress doesn't care a damn about "we the people")
[ Post Reply | Private Reply | To 1 | View Replies]

To: Freedom_Is_Not_Free

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.


19 posted on 08/16/2010 2:43:42 PM PDT by Frantzie (Democrats are the party of Islam.)
[ Post Reply | Private Reply | To 14 | View Replies]

To: Frantzie

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.


20 posted on 08/16/2010 2:55:16 PM PDT by Freedom_Is_Not_Free (California Bankruptcy in 4... 3... 2...)
[ Post Reply | Private Reply | To 19 | View Replies]

To: Frantzie

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.


21 posted on 08/16/2010 3:02:34 PM PDT by BenKenobi (We cannot do everything at once, but we can do something at once. -Silent Cal)
[ Post Reply | Private Reply | To 19 | View Replies]

To: Hojczyk

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.


22 posted on 08/16/2010 3:13:01 PM PDT by frposty (I'm a simpleton)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Freedom_Is_Not_Free

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.


23 posted on 08/16/2010 3:40:12 PM PDT by Frantzie (Democrats are the party of Islam.)
[ Post Reply | Private Reply | To 20 | View Replies]

To: dirtboy

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.


24 posted on 08/16/2010 3:40:34 PM PDT by The Pack Knight (Laugh, and the world laughs with you. Weep, and the world laughs at you.)
[ Post Reply | Private Reply | To 7 | View Replies]

To: Hojczyk

Mo Mort - it is end of America thanks to *****n Democrats and idiots like you who voted for the Sadui king’s boy.


25 posted on 08/16/2010 3:41:32 PM PDT by Frantzie (Democrats are the party of Islam.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: JPG
Mort Zuckerman Admits He Helped Write One Of Obama's Speeches.
26 posted on 08/16/2010 6:04:43 PM PDT by ruination
[ Post Reply | Private Reply | To 5 | View Replies]

To: Luke21
Zuckerman is a typical dime-store paperback liberal jew who cares nothing and knows nothing as long as it benefits Israel.
27 posted on 08/16/2010 7:24:13 PM PDT by hinckley buzzard
[ Post Reply | Private Reply | To 17 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson