tag:blogger.com,1999:blog-6616959642391988608.post4611718700000885723..comments2024-03-18T13:22:06.536-07:00Comments on Calafia Beach Pundit: Service sector mixedScott Grannishttp://www.blogger.com/profile/14028519647946868684noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-6616959642391988608.post-20293529609039992872014-03-06T11:34:42.282-08:002014-03-06T11:34:42.282-08:00Roller: Good point!Roller: Good point!Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-79607608040026591352014-03-06T11:29:18.727-08:002014-03-06T11:29:18.727-08:00It's called Supply and Demand, (not Demand an...It's called Supply and Demand, (not Demand and Supply), for a reason.... Supply leads demand.The Rollerhttps://www.blogger.com/profile/10835104442541844347noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-26404806590320000322014-03-06T06:12:50.962-08:002014-03-06T06:12:50.962-08:00Hi Scott, Just wanted to let you know I have read ...Hi Scott, Just wanted to let you know I have read your blog for years. I have benefited from your sound advice greatly in my investments, mainly by not panicking when most pundits are crying "the sky is falling".<br /><br />I applaud how gracious you are when replying to opposing comments, I don't know where you get your patience from!<br /><br />Some people think they know it all, Larryhttps://www.blogger.com/profile/06597176013557270931noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-34970094211858764242014-03-05T21:18:52.708-08:002014-03-05T21:18:52.708-08:00This comment has been removed by the author.McKibbinUSAhttps://www.blogger.com/profile/10545798495680527622noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-45021787009131217142014-03-05T21:05:02.191-08:002014-03-05T21:05:02.191-08:00This comment has been removed by the author.McKibbinUSAhttps://www.blogger.com/profile/10545798495680527622noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-38503715702072000982014-03-05T20:59:04.181-08:002014-03-05T20:59:04.181-08:00Hi Scott, you are mistaken -- creating supply cann...Hi Scott, you are mistaken -- creating supply cannot create an economy -- only demand can create an economy -- your argument is from the 20th century -- we are in the 21st century -- supply-side economics is without merit in today's economy.McKibbinUSAhttps://www.blogger.com/profile/10545798495680527622noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-72106156844289249692014-03-05T16:28:21.085-08:002014-03-05T16:28:21.085-08:00McKibbin: you really have no understanding of supp...McKibbin: you really have no understanding of supply-side economics. A big reason the economy is doing poorly is that supply-side theories are NOT being applied. Keynesian theories are still dominant, and they focus, mistakenly, on stimulating "demand." What we need instead is to focus on stimulating supply. We need more risk-taking, more work, and more investment, not more demand. Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-86709137055415106262014-03-05T12:42:58.652-08:002014-03-05T12:42:58.652-08:00PPPS: According to FRED data, US real retail sales...PPPS: According to FRED data, US real retail sales peaked in January 2006 at $603,000/capita, and remains depressed at $573,000/capita as of January 2014. Retail sales are horrible in the US due to lack of consumer participation. Again, Main Street USA remains mired in economic depression as evidenced by long-term declines in real working wages, real home values, and the employment to McKibbinUSAhttps://www.blogger.com/profile/10545798495680527622noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-57836740479694857912014-03-05T10:47:20.328-08:002014-03-05T10:47:20.328-08:00Similar to Bill Clinton's 1997 signing of mass...Similar to Bill Clinton's 1997 signing of massive supply side tax cuts, <br /><br />http://en.wikipedia.org/wiki/Taxpayer_Relief_Act_of_1997<br /><br />in 2012, President Obama too signed into law, (making them permanent), the George W Bush supply side tax cuts. <br /><br />In the meantime, 2013 Retail sales hit all time record highs.<br /><br />http://media.ycharts.com/charts/The Rollerhttps://www.blogger.com/profile/10835104442541844347noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-41007666891797896762014-03-05T09:28:22.495-08:002014-03-05T09:28:22.495-08:00According to Scott, "the Fed's aggressive...According to Scott, "the Fed's aggressive addition of bank reserves since 2008, banks have a virtually unlimited capacity to generate new loans." Unfortunately, none of that lending was targeting toward consumers who simply have no money to buy cars or major end items due to credit constraints. These credit constraints may in fact be a good thing in the long term. However, McKibbinUSAhttps://www.blogger.com/profile/10545798495680527622noreply@blogger.com