Posted on 02/14/2009 8:14:10 AM PST by NRG1973
Roubini, who’s been labeled “Dr. Doom” by some, said the stimulus package and bailout plan is needed but comes at a huge price. "It’s not a free lunch. We have to finance it. Let’s not kid each other,” he said. “We need a stimulus, but the cost of it will be massive down the line.” But Rogoff said the stimulus plan could turn out to be worse than doing nothing if President Barack Obama’s administration doesn’t get its act together and fix the banking system. He likened the trillion dollars as giving a blood transfusion to someone who’s bleeding to death without fixing the reason they’re bleeding to death.
How long did it take the Roman recession circa 600AD to end?
Nouriel proposes nationalizing the banks like Sweden did in the 90’s.
Though it would solve a lot of problems, it would give unprecedented power to the government and look how they have bungled the stimulus. Nationalizing the banks would only give an irresponsible democratic party permanent control over this country.
Are these the very same "economists" that twelve months ago were telling all who would listen how wonderful the economic news was?
Peee on these - and all - economists! (and just for fun, peeee on pee-low-see too!)
Shouldn't they be strung up with the bankers and politicians?
And anyone who has been shown to screw America?
IF America, Britain, and possibly the rest of Europe has any chance, there is only 1.
Revolution.
And one of the 2009 nominations for Best Drama Post is . . . .
Keep smiling,
Philip
You know the reason they didn’t see it was coming is because something happened that started this house of cards to tumble in just a few months before an election
no one saw this coming because it wasn’t.
It didn't end until January 20, 1981.
I WISH That were true... but, no. Nouriel Roubini is the guy, who TWO YEARS AGO, said we were doomed... He's been predicting this collapse since at least 2007.
No, those economists were people like me who lived in cities hit hard by the Great Mortage Boom. We didn't submit papers to journals or attend conferences in quaint European towns. No, we just said stuff like, "This s**t is gonna roll over and blow itself real quick."
"How come the psychic has to ask you your name?"
My neighbor has finally given up the belief that the turn-around would be complete by the end of 2009.
He's hoarding food now.
What's he going to cook it with?
America’s problems go far beyond the worldwide crash in assets that followed the Bubble and excess credit. As an employer I see the systemic problems as people apply for jobs: High rates of illiteracy, poor science/math skills, immorality (stealing, promiscuity, irresponsibility, laziness, and substance abuse), inability to connect behavior with consequences, ad nauseum. Foolish Americans need to experience economic PAIN because that’s the only way that most people learn. My immigrant employees have far better value to the company than the lazy native-born even though they too are mostly illiterate. But my immigrants grew up the hard way in the old country and at least WANT to work and save.
The one thing that they do not address is the fact that no matter what our politicians in Washington do, like the stimulus bill, it has no adverse effect on them personally. So....whatever they do, win or loose, they really don’t worry about it. Put this back on them personally, and you will see a whole new Bill and the country would look a lot different.
Bring on the Great Depression I will kick its a$$!!!
Q: What do you get when you pack 100 retards in a room?
A: The United States Senate
“He’s hoarding food now.”
....last month my neighbor bought 4000 rounds of .223 ammo for his black rifle...at the time I thought he was nuts....now I’m not so sure.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.