Open Line Friday!



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14 Community Comments, Facebook Comments

  1. MADCO says:

    Debt/GDP ratio is “high” and rising. Deficits contribute to growing debt.

    Let’s do what we know works to make it shrink:  grow GDP and decrease the deficit.

    Deficit reduction: increase revenue constrained spending.

    President Eisenhower did it.

    President Clinton did too.

    Debt financed wars that do not result in acquisition are historically a bad deal for the country that tries it.  We didn’t acquire Iraq or Afghanistan. (Or Bosnia, Somalia, Grenada, Nicaragua, Panama, Lebanon, Viet Nam, or any other place where we’ve debt financed war. Desert Storm was coalition paid for- we probably showed a small profit.)

    Next up: private, universal single payer healthcare.

    C’mon people- it aint that hard.

  2. MADCO says:

    Is  almost exactly what I want in the SOS for now.

    Our “special” friends (UK, Canada, Mexico, Australia, Japan, Germany, Puerto Rico, Panama, Phillipines, and Antarctica) will understand.

    The rest can suck it.

    I cannot post this where it was in context because an adsense ad appeared over the preview/cancel buttons and I couldn’t get rid of it.  What’s my world coming to?

  3. James Doddjadodd says:

    Here is a link to a humorous if somewhat simplistic explanation of why the whole “debt crisis” is nothing short of a scam.  I commend the last paragraph in particular.

    http://neweconomicperspectives

  4. parsingreality says:

    Yeah, Obama is going to kick some backward looking ass, just as the young Pharoah did in the first recorded battle in history at Megiddo in what is now Israel.

    http://en.wikipedia.org/wiki/A

    Funny how something so secular has taken on religious portent. Well, that’s religion for ya.  

  5. parsingreality says:

    The NYT did a lot of research into the costs of local and state governments giving away the tax farm to corporations.  Often without even a promise of job creation, little to no accounting, all the while shutting down schools and parks.

    So, not only are corporations paying less and less in taxes, they are gobbling up local and state taxes while said entities are sucking it up.

    http://www.nytimes.com/2012/12

    Anyone remember Denver losing out on Continental’s maintainence hub to ??? Cincinatti?  Turned out good for Denver, as Continental pulled out after not many years.

    It should just be outlawed.  I know that’s not practical on many levels, but it should!

  6. BlueCat says:

    Nobel prize winning economist Joe Stiglitz notes:

    What Iceland did was right. It would have been wrong to burden future generations with the mistakes of the financial system.

    Nobel prize winning economist Paul Krugman writes:

    What [Iceland's recovery] demonstrated was the … case for letting creditors of private banks gone wild eat the losses.

    Krugman also says:

    A funny thing happened on the way to economic Armageddon: Iceland’s very desperation made conventional behavior impossible, freeing the nation to break the rules. Where everyone else bailed out the bankers and made the public pay the price, Iceland let the banks go bust and actually expanded its social safety net. Where everyone else was fixated on trying to placate international investors, Iceland imposed temporary controls on the movement of capital to give itself room to maneuver.

    Krugman is right.  Letting the banks go bust – instead of perpetually bailing them out – is the right way to go.

    We’ve previously noted:

    Iceland told the banks to pound sand. And Iceland’s economy is doing much better than virtually all of the countries which have let the banks push them around.

    Bloomberg reports:

    Iceland holds some key lessons for nations trying to survive bailouts after the island’s approach to its rescue led to a “surprisingly” strong recovery, the International Monetary Fund’s mission chief to the country said.

    Iceland’s commitment to its program, a decision to push losses on to bondholders instead of taxpayers and the safeguarding of a welfare system that shielded the unemployed from penury helped propel the nation from collapse toward recovery, according to the Washington-based fund. (my emphasis)

    The whole article is pretty interesting:

    http://www.nationofchange.org/

  7. Early WormEarly Worm says:

    With the possible excemption of Panama, each President that was President at the time of the respective war/conflict that you mention, that sought reelection, was reelected.  Carter – no wars, historic peace accord in the middle east – no reelection.  George HW Bush, short, decisive, (profitable?) war – no reelection. I think Panama may be the exception that proves the rule b/c it was left over from the Ray-gun administration. Debt financed wars may not be good for the country, but they are great for your reelection chances.

  8. BlueCat says:

    Never one to mince words.

  9. BlueCat says:

    Abrasive and charmless ring a bell.

  10. VanDammerVanDammer says:

    but not qualities of an SoS?  Come on, how about some Army Gen complicit in innocent deaths?  How about some spineless milquetoast GW wife-wannabe to go toe-to-toe with the world?  Yeah, those two were stellar folks.  BTW, ever hear that Chevron was so beholden to Condi for helping exploint Khazak oil that they named a supertanker after her?  sweet dealings …

    I’ll put Susan Rice up there alongside Albright (my ultimate fav) and Hillary.    

    GOP’s game is to obstruct.  Obstruct and bully Obama — but will he cave?  Come on, Susan Rice hasn’t even been nominated yet — it’s all just supposition, but GOP is going balls to the wall to come out against her.

    Wouldn’t it rock if Obama was playing them in a rope-a-dope.  Let ‘em turn circles tearing down Rice only to have Hillary stay or nom someone outta left field.  I truly feel bad for Susan Rice.  She’s impressed me in interviews I’ve seen & heard but she doesn’t have it to satisfy BC and she’s taking a helluva beating over pissant politics.  

  11. GalapagoLarryGalapagoLarry says:

    So what this says is, a policy which is both just and morally defensible turns out to be the strongest one economically? Well that’s just…just… . Well, I never! I’m speechless.

  12. GalapagoLarryGalapagoLarry says:

    Finally, someone came up with a way to eliminate that obnoxious “Cash back? Y/N” choice that slows down every digital transaction.

  13. MADCO says:

    cuz I’m pretty sure some of those supertankers  aint that super.

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