Thursday, September 20, 2012
Rmoney Apologizes?!!??!
Well, in The Onion, he does... in an article titled "Romney Apologizes To Nation's 150 Million 'Starving, Filthy Beggars' ". (H/T ellroon.)
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The United States Budget Dilemma:
ReplyDeletehttp://www.redstate.com/montani/2012/05/06/the-united-states-budget-dilemma/
It is clear to me, it is a pro-rMoney site.
But could you please explain how real or not is the related video?
http://www.youtube.com/watch?v=EW5IdwltaAc
Mitt Romney ‘Dyed His Face Brown’ to Appeal to Latino Voters.
ReplyDeleteMitt Romney currently trails President Obama among registered Latino voters by nearly 40%, and getting caught saying things like "it would be helpful to be Latino" certainly isn't helping.
http://gawker.com/5944931/mitt-romney-dyed-his-face-brown-to-appeal-to-latino-voters
"But could you please explain how real or not is the related video?" - Enfant
ReplyDeleteEnfant, I watched less than half of the video before it became apparent that its thesis is the same old bullshit that Republicans repeat in their effort to convince voters of the rightness of their stealing us blind. Let me put it in two simple sentences:
* A NATIONAL GOVERNMENT BUDGET IS =NOT= A HOUSEHOLD BUDGET.
* A NATIONAL GOVERNMENT BUDGET IS =NOT= A CORPORATE BUDGET.
No matter how many decades of experience that "gentleman" has with those two kinds of budgets, he has no more insight into national government budgets than you or I do... less, actually.
Why is this so? Simple:
* NATIONAL GOVERNMENTS CAN, INDEED MUST, PRINT MONEY.
It is one of several levers nations have (that households and corporations do not) to adjust the behavior of their nation's economy. There are of course trade-offs... it's no good printing money for its own sake... but it does allow direct input into the business cycle. Governments rightly spend more money in times of depression and collect more money in better times. This is what economist John Maynard Keynes taught us almost a century ago.
If a government does not do this, a recession or depression can turn into a self-perpetuating cycle:
* demand is low, as is employment;
* tax revenues go down;
* government cuts its budget and spends less;
* demand goes even lower;
and so on ad infinitum. Think of it this way:
* GOVERNMENT IS THE DEMAND SOURCE OF LAST RESORT.
Government budgets are nothing like family budgets, and at times must be managed almost in the opposite way to family budgets. Republicans pretend not to know this, because the dirty little secret is...
* DEPRESSIONS CAN BE GOOD FOR RICH PEOPLE.
Is that a bit clearer?
Thanks, Steve. Nicely explained.
ReplyDeleteI think former Federal Reserve Chairman, Alan Greenspan was also talking about printing money.
ReplyDeleteEverything explained perfectly; you couldn't be more clear!
Thanks