That's a good point, and Ms. Lagarde of the IMF has said basically the same thing, that nations should be reforming their financial system - but political paralysis makes that very difficult... At least we got the Frank-Dodd act here in the U.S.
lol! I believe it's simple commone sense here. If throwing billions, even trillions had been shown to work, I would be all for it. Unfortunately we are now 3 years into this mess and no end in sight. A good example: I have a friend who is a pretty bad alcoholic (your town drunk analogy made me think of this. lol!). He kept getting DUI's and his family kept bailing him out of jail and using their political influence to help him get lenient sentencing. Finally after his 3rd DUI they said "Enough!" They let him stay in jail, didn't bail him out and told him he would be unable to see his children until he gets his shit together. Guess what? He finally got his shit together and is working a really good job and doesn't drink at all anymore. Amazing what a little tough love can do.
So... where is the money coming from?http://money.cnn.com/2011/09/15/markets/ecb_central_banks_liquidity/index.htm
BOLD
I didn't think Bernanke and co had it in 'em... The two day Federal reserve policymaking meetings set to take place the 20th and 21st may actually produce action after all!
rotflmao...
the evidence is all around you, keynesian philosophy is a failure, a rational person can see that
More name calling... Still no evidence to support your assertion... Nothing to see here.
Off the top of my head I point to the first stimulus which saved or created 3 million jobs, and essentially "stopped the bleeding" that was 700,000 jobs lost per month when Obama first came into office. Now, obviously my position was that it wasn't big enough but it had a positive effect on the economy, which is important... But we've had this debate before haven't we?
Saved or created 3 million jobs? I bet you can't prove any of that. In case you hadn't noticed, unemployment is UP since Obama took office. Jobs have been lost, not saved.
I would cite the CBO report or numerous independent reports, but you'll only say they're wrong.
It's what the Republicans want, and it's what the Democrats are being forced to do due to political pressure caused by the "out of control" deficits and debt we have. I'm not saying Democrats dont care to be fiscally responsible - but there is a time and place for everything... Again, we've talked about this extensively.
Neutron, Smokebros, and Deprave were saying Keynesianism has failed - without presenting any evidence of course - and judging by their previous posts they believe Austrian economics, pushed primarily by Ron Paul, is the answer. I'm not sure you've ever alluded to Austrian economics as the answer but judging by you dislike of the Federal reserve, you dont seem to be receptive of monetarism either...
You know just as well as I the political paralysis that has taken hold of our country ever since that senator died during the HC debate... If it was a Democratic house and senate I'd bet my 50" plasma that they'd pursue another stimulus (and it'd likely be much larger than Obama's currently proposed 447B, 60% of which is tax cuts). "the fact that they can't and won't" doesn't indicate a flaw in keynesianism, it indicates that the entire Republican party is united on a platform of obstructionism(they've broken nearly every record of obstructionism in the proccess... so they're doing it quite well atm).
Good, we need inflation right now; a 4-6% core target would be nice.
don't forget the gold bubble
So then if every single project had it's merits - for example the bridge that's being built between Portland, Or and Vancouver, WA to alleviate heavy traffic on the I5 - you would be for it then right? What if 1 trillion dollars worth of infrastructure, all of it with legitimate merit were to be pushed by Democrats? Let's assume we're paying for it... I have a feeling you'd argue that it's not the federal governments job that it's the state and local levels that should do it but if it's the state and local level that you feel should have control of these projects how about having every state apply for financial aid from the Federal government for projects that they themselves choose? You minimize waste, fix our crumbling infrastructure, avoid further deficits and stimulate aggregate demand... sort of like the infrastructure bank idea, but have the option for state and local governments to petition for aid for projects as well as private interprise...
