tag:blogger.com,1999:blog-6616959642391988608.post4334586439785584674..comments2024-03-19T02:45:37.685-07:00Comments on Calafia Beach Pundit: A weak dollar points to need for supply-side policiesScott Grannishttp://www.blogger.com/profile/14028519647946868684noreply@blogger.comBlogger13125tag:blogger.com,1999:blog-6616959642391988608.post-92193891127203214332012-07-09T13:30:40.134-07:002012-07-09T13:30:40.134-07:00"example to me how taking wealth from product..."example to me how taking wealth from productive people and distributing it to non-productive people is going encourage wealth creation?"<br /><br />PD, I couldn't agree more. Some of the most non-productive people I ever ran across in the work place were senior managers, protected by more vulnerable middle managers who actually worked on projects and had their asses on the line.Johnhttps://www.blogger.com/profile/06365403570563730880noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-33345372962417257372012-07-07T10:33:28.898-07:002012-07-07T10:33:28.898-07:00One of you Lefties example to me how taking wealth...One of you Lefties example to me how taking wealth from productive people and distributing it to non-productive people is going encourage wealth creation?<br /><br />Demand is down because the wealth creators are being targeted by the Maoists regime in Washington. Obama brought the recession and it will end when he is gone.PD Dennisonhttps://www.blogger.com/profile/10012560806774461700noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-65348269583529218742012-07-06T06:00:06.880-07:002012-07-06T06:00:06.880-07:00@Benjamin, the Libertarian Party is at least intel...@Benjamin, the Libertarian Party is at least intellectually honest -- more at:<br /><br />http://www.lp.org/McKibbinUSAhttps://www.blogger.com/profile/10545798495680527622noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-25916357169586515142012-07-05T22:24:49.713-07:002012-07-05T22:24:49.713-07:00It is sad to see GOP orthodoxy become dogma---that...It is sad to see GOP orthodoxy become dogma---that somehow money is "loose."<br /><br />Too many on the right conflate "tight money" with restricting the growth of the federal government (the latter I concur with, more so than the current GOP does).<br /><br />Inflation and interest rates are at record lows---this is not loose money at work, by any standard that makes sense.<Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-13362916200482358662012-07-05T18:14:27.214-07:002012-07-05T18:14:27.214-07:00PS. What I mean by "better off"... will...PS. What I mean by "better off"... will our children, and their children, have more opportunities and a better life, if we redistribute more wealth.randyhttps://www.blogger.com/profile/16368254229927808998noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-80032396954925468772012-07-05T17:53:29.473-07:002012-07-05T17:53:29.473-07:00Joe,
Interesting comments. In your opinion, what...Joe,<br /><br />Interesting comments. In your opinion, what were the key govt policies that resulted in the fluctuations of wealth distribution? It sure seems reasonable that the growing divide isn't right. Are the ill effects of that solved by simple redistribution - taking cash from rich and giving to the non-rich? Is that accomplished by refundable tax credits? If that cash is spent randyhttps://www.blogger.com/profile/16368254229927808998noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-46941586875449000962012-07-05T17:43:17.472-07:002012-07-05T17:43:17.472-07:00The correlation (if correct) you cite between weal...The correlation (if correct) you cite between wealth concentration and subsequent collapses does not proved that wealth concentration caused the collapses. Milton Friedman and Ben Bernanke would say that the Depression was caused by bad monetary policies. Others cite a global trade war as a cause. Still others cite bad fiscal policy (raising taxes and spending too much money) as a cause. Wealth Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-33275683614997360042012-07-05T17:06:20.276-07:002012-07-05T17:06:20.276-07:00Scott: this seems too ideological and can IMO be d...Scott: this seems too ideological and can IMO be disproved by a simple test with history. We know that 1929 and today income and wealth is heavily concentrated with the rich. In between these two points in history, a low for this concentration was reached in the later 1970s. In both cases 1929 and 2008, a deflationary collapse resulted. At the opposite point in time, the 1970s, an inflationary Joehttps://www.blogger.com/profile/17141887720434208291noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-73331145827718736772012-07-05T16:31:23.544-07:002012-07-05T16:31:23.544-07:00Joe: you are infected with the Keynesian demand-si...Joe: you are infected with the Keynesian demand-side virus which has caused the world's major economies to falter. You can't spend your way to prosperity. Today's problem is not a lack of demand. Billionaires don't have bags of money sitting around idle that can be redistributed to the poor. Every dime that is earned is always spent by someone, ultimately. Either the person Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-60069977566464877622012-07-05T15:01:00.928-07:002012-07-05T15:01:00.928-07:00Actually, what is needed at a time where the top 1...Actually, what is needed at a time where the top 1% have increased their share of national income and whealth as last seen in 1929 is a sweeping demand-side policy. The problem is the lack of demand and why invest in anything if nobody can buy the stuff? First we need a massive redistribution of income and whealth, so we have again enough buying power by the masses, which lost real income for Joehttps://www.blogger.com/profile/17141887720434208291noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-11749922457879843802012-07-05T11:19:28.126-07:002012-07-05T11:19:28.126-07:00give the private sector a chance to work its magic...<i>give the private sector a chance to work its magic</i><br /><br />Real private nonresidential investment in <a href="http://research.stlouisfed.org/fred2/graph/fredgraph.pdf?&chart_type=line&graph_id=&category_id=&recession_bars=On&width=630&height=378&bgcolor=%23b3cde7&graph_bgcolor=%23ffffff&txtcolor=%23000000&ts=8&preserve_ratio=true&fo=ve&marmicohttps://www.blogger.com/profile/08277071086056574486noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-66409055288787172862012-07-05T10:39:05.201-07:002012-07-05T10:39:05.201-07:00If austerity is to work, it's time to talk abo...If austerity is to work, it's time to talk about double-digit wage decreases in America, especially for those in the public sector -- I was an early advocate for monetary expansion, but now that austerity is plan for the future, now would be a good time to get started on public wage reductions -- the more savage the cuts, the more likely that austerity will work to reverse the world's McKibbinUSAhttps://www.blogger.com/profile/10545798495680527622noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-43611328474151791172012-07-05T09:47:52.708-07:002012-07-05T09:47:52.708-07:00Do you agree with the WSJ opinion piece today whic...Do you agree with the WSJ opinion piece today which argues that loose monetary policy caused the 2008 panic and that current policy may result in another panic?Billhttps://www.blogger.com/profile/06910619601367464068noreply@blogger.com