MOBILE USERS: m.isthmus.com
Connect with Isthmus:         Newsletters 
Sunday, December 21, 2014 |  Madison, WI: 31.0° F  Light Snow Fog/Mist
Collapse Photo Bar

Sensible narrative emerges regarding our economic collapse

Races for the Senate, U.S. House, etc. and other issues of national importance.

Sensible narrative emerges regarding our economic collapse

Postby Mad Howler » Sun Jan 27, 2013 11:17 pm

I think that it is pretty fascinating that it has taken this long to hit the mainstream. I wonder why that would be? This seems to be a sensible stance and implies the potential of actionable...

http://www.bloomberg.com/news/2013-01-2 ... t-was.html

MH
Mad Howler
Forum God/Goddess
 
Posts: 1464
Joined: Wed Apr 04, 2012 8:36 pm

Re: Sensible narrative emerges regarding our economic collap

Postby Stella_Guru » Mon Jan 28, 2013 1:21 pm

So, four years of chasing Republican skirts in search of a grand austerity bargain to shift the burden from those who created this mess to the working class is the right thing to do then.
Stella_Guru
Forum God/Goddess
 
Posts: 1216
Joined: Sat Mar 01, 2008 7:08 pm

Re: Sensible narrative emerges regarding our economic collap

Postby Sandi » Mon Jan 28, 2013 1:43 pm

From the article.

Throughout this period, polls of small business, such as those conducted by the National Federation of Independent Business, consistently show that the main concern is weak sales, instead of access to credit. As the economist J.W. Mason notes, credit-card debt has had an even larger percentage drop than housing debt. Overall, economists see threats of weak demand and disinflation, rather than rising prices from credit constraints, as a problem for the recovery.


Sure sales and credit card borrowing is down. People are smart enough to know better than to spend more money in thin times, even if Congress isn't.

This perspective, shared by many besides Bernanke, led to the pivot that the Obama administration has taken since 2010: prioritizing deficit reduction and deprioritizing economic stimulus. (My emphasis added)


Well hard telling where they come up with that. The Obama administration has no interest in spending less, and infact wants to spend more, lots more this year than previously: has asked for more. Not that I blame Obama ( or any President ) for the debt. Congress has the purse strings, and only Congress can spend money, but regardless of party, all are wimps when it comes to any attempt to cut spending. The President suggests a budget, and has the veto power, and that is it.
Sandi
Forum God/Goddess
 
Posts: 1790
Joined: Sun Jul 17, 2005 11:31 pm

Re: Sensible narrative emerges regarding our economic collap

Postby Michael Patrick » Mon Jan 28, 2013 1:50 pm

Image

Yes, looking at this graph, it is readily apparent that Obama greatly increased federal government expenditures. Obama was president from 2000 to 2008, right?
Michael Patrick
Forum God/Goddess
 
Posts: 3969
Joined: Wed Sep 03, 2003 8:56 am
Location: Around here somewhere

Re: Sensible narrative emerges regarding our economic collap

Postby jonnygothispen » Mon Jan 28, 2013 1:57 pm

Although Federal Regulators did apparently see this coming...

http://www.msnbc.msn.com/id/28001417/ns ... -warnings/

The Bush administration backed off proposed crackdowns... It ignored remarkably prescient warnings that foretold the financial meltdown, according to an Associated Press review of regulatory documents.

...In 2005, faced with ominous signs the housing market was in jeopardy, bank regulators proposed new guidelines for banks writing risky loans.

...Those proposals all were stripped from the final rules. None required congressional approval or the president’s signature.
jonnygothispen
Forum God/Goddess
 
Posts: 3218
Joined: Wed Jun 25, 2008 3:53 pm

Re: Sensible narrative emerges regarding our economic collap

Postby Stella_Guru » Mon Jan 28, 2013 4:07 pm

jonnygothispen wrote:...In 2005, faced with ominous signs the housing market was in jeopardy, bank regulators proposed new guidelines for banks writing risky loans.

...Those proposals all were stripped from the final rules. None required congressional approval or the president’s signature.
[/quote]
No need for any new regulations. Just grant blanket immunities from prosecution, the LIBOR interest rate rigging scheme and mortgage robo-signing, letting mega-crooks off with fines.
Stella_Guru
Forum God/Goddess
 
Posts: 1216
Joined: Sat Mar 01, 2008 7:08 pm

Re: Sensible narrative emerges regarding our economic collap

Postby Mad Howler » Tue Jan 29, 2013 12:21 am

Stella_Guru wrote:No need for any new regulations. Just grant blanket immunities from prosecution, the LIBOR interest rate rigging scheme and mortgage robo-signing, letting mega-crooks off with fines.


Exactly! Even post S&L debacle bad actors felt the pain/risk of incarceration. The current administration seems happy to signal that there is a consequence but it will be a cost of doing business. This message seems to have received and markets have responded positively (i.e. UBS settlement). Tisk, tisk...if this isn't a "make me do it moment" I do not know what is.

On the other hand if you unlock your iPhone that has the potential to get you 5 years of incarceration and some very steep fines.
http://www.iphonehacks.com/2013/01/unlo ... 00000.html

It "funny" world.

MH
Mad Howler
Forum God/Goddess
 
Posts: 1464
Joined: Wed Apr 04, 2012 8:36 pm

Re: Sensible narrative emerges regarding our economic collap

Postby wack wack » Tue Jan 29, 2013 9:20 am

Sandi wrote:Not that I blame Obama ( or any President ) for the debt. Congress has the purse strings, and only Congress can spend money, but regardless of party, all are wimps when it comes to any attempt to cut spending.


We do not have a spending problem, we have a revenue problem.
wack wack
Forum God/Goddess
 
Posts: 3192
Joined: Mon Jan 20, 2003 5:32 pm


Return to National Politics & Government

Who is online

Users browsing this forum: No registered users and 2 guests

moviesmusiceats
Select a Movie
Select a Theater


commentsViewedForum
  ISTHMUS FLICKR
Created with flickr badge.

Promotions Contact us Privacy Policy Jobs Newsletters RSS
Collapse Photo Bar