Four Deformations of the Apocalypse

Four Deformations of the Apocalypse

PostBy: tvb On: Sun Aug 01, 2010 7:03 pm

Written by David Stockman, Director of the Office of Management and Budget under President Reagan:

http://www.nytimes.com/2010/08/01/opini ... age&src=me

IF there were such a thing as Chapter 11 for politicians, the Republican push to extend the unaffordable Bush tax cuts would amount to a bankruptcy filing.


...

It is not surprising, then, that during the last bubble (from 2002 to 2006) the top 1 percent of Americans — paid mainly from the Wall Street casino — received two-thirds of the gain in national income, while the bottom 90 percent — mainly dependent on Main Street’s shrinking economy — got only 12 percent. This growing wealth gap is not the market’s fault. It’s the decaying fruit of bad economic policy.


...

Under these circumstances, it’s a pity that the modern Republican Party offers the American people an irrelevant platform of recycled Keynesianism when the old approach — balanced budgets, sound money and financial discipline — is needed more than ever.


Yet they (and many here) still argue for tax cuts remaining in place on the wealthiest of Americans.
tvb
 
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Re: Four Deformations of the Apocalypse

PostBy: jpete On: Sun Aug 01, 2010 10:51 pm

Riiiggghhhttt.....because the Democrats are the enlightened path to truly free markets and hard currency?

You don't believe your own tripe do you?

How do you propose to pay for all the entitlements without Keynesianism on steroids?

How much money do you think Bill Gates has? And do you think he's willing to give it all to the government or will he move to India where he gets all his engineers from anyway?
jpete
 
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Re: Four Deformations of the Apocalypse

PostBy: CapeCoaler On: Mon Aug 02, 2010 10:17 am

This growing wealth gap is not the market’s fault. It’s the decaying fruit of bad economic policy.

We just disagree on who has the bad policy...

balanced budgets, sound money and financial discipline — is needed more than ever.

And the way to properly balance the budget...
CapeCoaler
 
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Re: Four Deformations of the Apocalypse

PostBy: SMITTY On: Tue Aug 03, 2010 8:30 am

Funny ... my income ranks in the lower percentile of the American average, but yet I seem to recall getting a check from G.W. when he was in office. TWICE!!

SO what your saying, tvb, is that I am the wealthiest of Americans??? :funny:
SMITTY
 
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