Sunday, August 08, 2010

Austerity now

By Creature

"I wouldn't do a major second stimulus because I think...we run a risk that it could be counterproductive in creating a lot of additional uncertainty and undermining confidence." Bob Rubin, former Clinton Treasury Secretary and god to current one.

Maybe it's just me, but wouldn't Wall Street be much more "confident" if they knew further stimulus spending was a possibility. More spending means more people can buy their crap. That should be a good thing, no? Only in a world where the haves already got their bailout does this make sense.

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  • Pretty hard to buy anybody's crap, if you don't have a job, or you're afraid that you won't have your job in the near future. Pretty hard for a company to provide a job if they think that Obamacare and an increase on business taxes are going to bankrupt them. I doubt if you'll agree.

    By Blogger AllenS, at 9:13 AM  

  • I do disagree, Allen. I think the Obamacare-taxes-regulation meme from the right is just an excuse. If demand was there, they would hire. Just like they always have.

    By Blogger creature, at 5:15 PM  

  • Hey, Allen, those folks could always go into business selling goldbricks, just like that working-class hero Glenn Beck. Seems to be a pretty good line.

    By Blogger Mustang Bobby, at 7:05 AM  

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