If you realize both parties in Washington think that our money is theirs and you trust them to do the wrong thing, this list is for you.
If you think there is a Santa Claus who is going to get elected in Washington and cut your taxes, spend a few trillion and that will jump-start the economy, this list is not for you.
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The Austrian School’s Commandments plus :From : link
1) You cannot spend your way out of a recession
2) You cannot regulate the economy into oblivion and expect it to function
3) You cannot tax people and businesses to the point of near slavery and expect them to keep producing
4) You cannot create an abundance of money out of thin air without making all that paper worthless
5) The government cannot make up for rising unemployment by just hiring all the out of work people to be bureaucrats or send them unemployment checks forever
6) You cannot live beyond your means indefinitely
7) The economy must actually produce something others are willing to buy
8) Every government bureaucrat should keep the following motto in mind when attempting to influence the economy: “First, do no harm!”
9) Central bank-supported fractional reserve banking is an economically distorting, ethically questionable activity. In particular, no government should ever do anything to save any bank from the full consequences of a bank run, no matter what the short-term consequences.
10) Gold is God’s money.
Add mine:
1) Businesses don't hire workers just because of demand for products or services, they hire because it makes them money. Sorry to have to state the obvious.
2) Government spending without taxing is still redistribution
3) Taking one man's money and giving it to another is not a job.
4) Paul Krugman and Bernake have been wrong about everything, as well as the other best and brightest Keynesian's who have been fixing our economy for over a decade.
5) Republicans in the minority (esp out of the White House) act like Republicans, in the majority they act like Democrats .
If the Vampire Squid doesn’t like it, it MUST be good for the taxpayers...
The government is a leaden weight on the economy.
Goldman & Sachs are rich liberals who love Big Government.
The most prominent alma mater of G&S was a guy named Jon Corzine.
New Jersey’s last Democratic Governor.
So cutting spending slows economic growth?? Well DUHH, short term economic activity maybe, But as soon as the stimuluses money, cash for clunkers, and homebuyer tax credit ran out, crash. But we still got the debt. So do these economists ever discuss LONG term economic growth?
Isnt Goldman Sach's a bank that was part of creating this disaster?? Didnt they just make money on it?
I used to compete against Goldman 25 years ago and they were crony capitalists even then. Just like GE, they are simply toting water for Obama.
The Harding/Coolidge Prosperity of the 1920's
On March 4, 1921, President Woodrow Wilson relinquished the office of the presidency to Ohio Senator Warren G. Harding. The state of the union was poor. "With the exception of Lincoln, probably no president in our national history has taken office with as pressing a burden of unresolved questions." Those were the words of the Nation of February 1921. The national economy was in the depths of a depression with an unemployment rate of 20% after a runaway inflation.On April 12,1921, President Harding went before a contentious Congress and presented his program for economic recovery which he called "A Return to Normalcy". Harding's normalcy program consisted of the following measures.
- A call for a national budget program (which was vetoed by his predecessor).
- National debt reduction
- Tax reduction
- An emergency tariff to protect American industry and farm commodities.
- Farm relief legislation (farm bankruptcies were up 20% from 1914).
- Immigration restrictions to protect American jobs.
President Harding pushed hard for his program and got it passed by Congress in 1921. By late 1922, the economy began to turn around. Harding did not live to see it, but his normalcy program proved to be the foundation that Coolidge prosperity was built on. Harding's successor, Calvin Coolidge had the wisdom to stay the course and build on Harding's program. The American people were the beneficiaries of the unprecedented prosperity of the 1920's. Unemployment was pared from its high in 1921 of 20% to an average of 3.3% for the remainder of the decade. The misery index which is a combination of unemployment and inflation had its sharpest decline in U.S. history under President Harding. The Gross National Product averaged 7% from 1924 to 1929. Wages, profits, and productivity all made substantial gains during the 1920's. Harding slashed federal spending by two billion from Wilson's last year and Coolidge maintained that spending level of 3.3 billion per year for the rest of the decade. The Harding-Coolidge tax cuts produced increased revenue that went to cut the national debt left by Wilson by one-third.
Source: Calvin Coolidge
Compare that performance to the president who "led" only a decade later!
I thinkg G&S better keep their mouths shut. Do they reaqlly think the American Taxpayers trust them?
Lloyd Vampire Blanfein is a life long democrat and huge obama supporter. Those global bankers are nothing but socialists not only did they suck off the taxpayers teats in the past but they continue to do through the GSE’s. They also supported organizations like ACORN they should have been allowed to fail.
Looks like Zero’s “investment” in Sachs is paying off.
Goldman & Sachs was bailed out by TARP. They have former employees scattered throughout the Obama administration. The relationship is incestuous.
And "confidentially" delivered to ABC news.
Yeah, sure, I believe that. No agenda here.
Whores.
Maybe Goldman Sachs should liquidate now while there is still some value in the name. They would certainly not be missed.
Keynesian economics is basically the equivalent of kicking the can down the road. It is a “tool” that politicians use to give themselves a temporary boost in popularity, knowing that they’ll be long gone from office by the time the bill comes due.
Goldman Sachs is an internation criminal enterprise.
Your use of the highlighted keywords speaks volumes about your bigotry and anti-semitism. KMA
Just think, if we hadn’t bailed out AIG, these punks might be bankrupt.
Even from the Keynesian point of view, cutting gub’mint spending will hurt LESS than bankruptcy or hyperinflation...