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HP Inc. Message Board

  • c8w73 c8w73 Feb 28, 2013 12:06 PM Flag

    NEGATIVE GDP growth last Q, and BARELY averted negative growth this Q, OBAMA??????

    Are you kidding me????? Will all your wonderful, idealistic Keynsian trillions of dollars $$$$$ stimulus????

    Sentiment: Hold

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    • c8w73, You ought to get the facts straight. You are embarrassing even those birthers.

    • If you had any idea of what you are talking about, you would realize that there have not been trillions of dollars in Keynsian stimulus. The Recovery Act, the only stimulus package enacted during the Obama Presidency, was $800 billion and was passed 4 1/2 years ago. Since then, the government has been on a steady path of slow or no spending growth, the slowest growth of federal spending since the Eisenhower administration. It is impossible to say whether a Keynsian stimulus would have worked because, except for the one-time shor of the Recovery Act, it was never tried.

      What has happened is that the Fed has pushed trillions of dollars of cash into the economy via its programs of quantitative easing and bond swapping. The modest recovery that we have enjoyed is almost entirely due to this Fed activity (which the Administration does not control).

      Both in absolute and relative-to-GDP terms, federal spending is shrinking and with the sequester coming into effect, it will shrink even faster. Given the stubbornly high level of unemployment, this is a bad thing. The only people who have done really well since 2009 are the top 1% of income earners. They've seen their incomes rise 11% (through the end of 2011, the last date for which we have reliable figures). The other 99% of us have seen our real incomes fall 1/2% in the same time period. The stock market is high because the bond market is low. The only place an investor can earn a decent return these days is in the stock market and that will continue to remain true until bond interest rates rise. Given that Bernanke remains committed to additional QE for the forseeable future, the stock market will continue to be the place to park your money even if the economy slides back into recession.

    • A very good question. Why are they focusing only on cutting spending in Washington, instead of growth? It's certainly not possible to cut our way to growth, so when will the focus change to one of growing the economy, rather than cutting it?

      Sentiment: Hold

      • 1 Reply to vt_investor
      • Because to create TRUE growth you have to shrink spending on things that are not productive and add to the GDP such as THE GOVERNMENT. The government printing money is just an illusion of growth. CUT the government, let the people spend their money more effeciently and watch the economy actually GROW. Of course to #$%$ this is a subject to which they only have 1 answer...Tax the rich people and let the government grow and spend more money....that will solve all the problems. You folks are a joke.

    • John MeyNERD Keynes has been proven to be a socialist big guv spending fraud over and over and over

      Sentiment: Hold

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