Category: Economy, Think Tank

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

2 Responses to “Withstanding Great Recession Like China”

  1. DeDude says:

    Yes the Chinese were not saddled with crazy ideological shackles, so they did what needed to be done. In their country the traditional heavy involvement of government in actual production of goods for private consumption has made it easy to understand a simple truth denied by most politicians in this country. There is no difference in the economic effect of an activity just because it is conducted in the government vs private sector. The multipliers of building a community center or of building private residencies are the same. So when the private sector malfunctions and demand is dropping severely, the way to prevent large losses in productivity is to increase demand by deficit spending in the government sector. The worst thing a country can do is to leave millions of job seeking citizens with no jobs. The buildings, products and services those people could have produced are lost forever. You don’t get to catch up much on the wasted “productivity” when able bodied workers are left with nothing to do. In the US the most tragic part is that we have huge amounts of public work and investments that need to be done to avoid falling behind the rest of the world. The opportunities to do that work at a time when borrowing, labor and materals would be at their lowest cost and the work would have its biggest multiplier effect, is quickly slipping away. This all because one of the countries two parties were more interested in hurting the sitting president than in helping the country.

    • 873450 says:

      How Grover Norquist hypnotized the GOP
      By Deval Patrick, Published: June 30, 2011

      At our 25th college reunion in 2003, Grover Norquist — the brain and able spokesman for the radical right — and I, along with other classmates who had been in public or political life, participated in a lively panel discussion about politics. During his presentation, Norquist explained why he believed that there would be a permanent Republican majority in America.

      One person interrupted, as I recall, and said, “C’mon, Grover, surely one day a Democrat will win the White House.”

      Norquist immediately replied: ‘We will make it so that a Democrat cannot govern as a Democrat.’ ”