tag:blogger.com,1999:blog-2761684730989137546.post1642034807299457407..comments2024-03-28T07:50:06.102-04:00Comments on Mike Norman Economics: William Galston on how to avoid another global deprressionmike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-2761684730989137546.post-8659239377855902772011-08-12T11:50:17.305-04:002011-08-12T11:50:17.305-04:00Actually, another round of "well-crafted"...Actually, another round of "well-crafted"* stim would increase GDP growth, reducing the denominator. It would also decrease the numerator (deficit) by increasing revenue and decreasing the automatic stabilizers.<br /><br />* A well-crafted stim would include a payroll tax cut, amping up automatic stabilization, and increasing public investment. Forget across the board tax cuts that favor savers who are unlikely to use the extra funds to increase effective demand.Tom Hickeyhttps://www.blogger.com/profile/08454222098667643650noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-3778924853669087822011-08-12T06:06:48.928-04:002011-08-12T06:06:48.928-04:00William Galston wants “another round of stimulus (...William Galston wants “another round of stimulus (well-crafted this time) as part of a package that stabilizes our debt-to-GDP ratio no later than the end of the decade..”<br /><br />Load of rubbish! The debt-to-GDP ratio needs to be whatever satisfies private sector savings desires. If Americans turn into Japanese style savers who want to store up piles of near zero interest earning government debt, then so be it. There’s no harm in that.Ralph Musgravehttps://www.blogger.com/profile/09443857766263185665noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-36456596344931950102011-08-11T16:53:27.247-04:002011-08-11T16:53:27.247-04:00Have at. I hope you and your DNA survive.Have at. I hope you and your DNA survive.Tom Hickeyhttps://www.blogger.com/profile/08454222098667643650noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-56712527070723372392011-08-11T15:22:46.436-04:002011-08-11T15:22:46.436-04:00We have 7 billion people on this planet and limite...We have 7 billion people on this planet and limited resources.<br /><br />Are you saying that there is no war currently? What is happening right now is a piecemeal solution, I'm advocating a comprehensive solution in which we purge a large part of the world population in one go and preserve only the best and brightest.<br /><br />Only then can mankind start evolving instead of being at a crossroads or experiencing de-evolution as in the case of the US.The Red Capitalisthttps://www.blogger.com/profile/12873377265509886647noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-48886402926172494262011-08-11T14:23:04.772-04:002011-08-11T14:23:04.772-04:00"A global depression may not be a bad thing -..."A global depression may not be a bad thing - we need a major purge within society if mankind is to evolve."<br /><br />Increases the risk of war, hardly a good idea in a nuclear, not to mention widespread human suffering, increasing poverty, etc. All in all, a very bad "solution."Tom Hickeyhttps://www.blogger.com/profile/08454222098667643650noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-26500755000371024322011-08-11T14:12:34.678-04:002011-08-11T14:12:34.678-04:00Why are these concepts 'statesmanship', &#...Why are these concepts 'statesmanship', 'equilibrium', 'global trade balance' so prominent in western ideology and economic thinking nowadays?<br /><br />Have people forgotten that we have a resource-based system in which resources are growing scarcer by the minute and that mankind has always conformed to survival of the fittest social darwinist principles, when their self-interests are at stake?<br /><br />Look at the US over the past 30 years - it is a prime example of this in action.<br /><br />A global depression may not be a bad thing - we need a major purge within society if mankind is to evolve.The Red Capitalisthttps://www.blogger.com/profile/12873377265509886647noreply@blogger.com