tag:blogger.com,1999:blog-6616959642391988608.post5139648289170089448..comments2024-03-28T00:18:25.641-07:00Comments on Calafia Beach Pundit: Service sector continues to improveScott Grannishttp://www.blogger.com/profile/14028519647946868684noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-6616959642391988608.post-67376375130037397192010-02-03T12:40:34.472-08:002010-02-03T12:40:34.472-08:00I understand and agree with you completely now.
B...I understand and agree with you completely now.<br /><br />But what if the past eight years of growth was simply taking savings from our pensions and retirement accounts, who really have no consumption demand, and loaning it to homeowners, businesses and municipalities to create short term growth through consumption?<br /><br /><br />And now that we have consumed our retirement savings through alstryhttps://www.blogger.com/profile/16025398896639165994noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-3962714008998947992010-02-03T12:13:17.811-08:002010-02-03T12:13:17.811-08:00To begin with, spending is consumption, and neithe...To begin with, spending is consumption, and neither can create growth out of thin air. Giving money to a drunk cannot create growth, even if he spends all the money immediately. The money he spends is money I don't spend.<br /><br />The problem with the federal government spending money that it has to borrow is that a) it can't generate new growth, it only redistributes money, and b) it Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-12319726771946538822010-02-03T12:01:17.202-08:002010-02-03T12:01:17.202-08:00As a supply-sider, you don't believe that cons...As a supply-sider, you don't believe that consumption drives economic growth, but rather the driver of growth is supply, and supply goes up when people work more, when the factors of production become more productive, when investment goes up, and when risk-taking goes up.<br /><br /><br />What would be the result if the driver of growth was spending.....and spending went up when people were alstryhttps://www.blogger.com/profile/16025398896639165994noreply@blogger.com