Uh-Oh, How Bad Is This Going to Get?

[Furunculus]

I'm worried about how far this thing is going to go, but I am excited about what it might mean coming out of it. I think that Economic Rationalism will be well and truly dead by the end of it and interventionist governments will be back on the rise.

What truly concerns me is that there probably won't be too much action on climate change until this is over...

you actually want that, why?

[Alexanderofmacedon]

We'll spend our way out, don't worry.

[Tribesman]

We'll spend our way out, don't worry.

Isn't that the theory of Reaganomics that started the current financial collapse .

[Vladimir]

Isn't that the theory of Reaganomics that started the current financial collapse .

I'll bite

What? Looking at history through a tankard? You're confusing his top marginal tax cuts (trickle down for the uninitiated) with his defense strategy of outspending the Soviets to oblivion. This part of his defense strategy (which caused them to compete and go bankrupt) was the most effective part.

But you'll probably mention some abstract fact, taken out of context, in an attempt to prop up a straw man (if this isn't one already) and laugh yourself all the way down to the pub. lolz haha haha roflmaoroflmao ad infinitum.

[Husar]

Well, when people cannot argue with Tribesman's pinpoint-accurate logic, they always attack his posting style, it's so...desperate...

[Lemur]

I just wish Tribes would link to a source every now and then.

[Seamus Fermanagh]

And ruin his 1-linkie-per-six-months average? Pshaaw.


Tribes:

Vladimir is over-simplifying Reaganism it a bit, but his basic point is on track. So, however, were you over-simplifying with your jibe. America's current government debt issues have antecedents stretching back to the turn of the 20th (and a convoluted combo of factors are involved). At best, Reagonomics is only one facet contributing its brilliance to the current economic gemstone.

[Husar]

I just wish Tribes would link to a source every now and then.

That is correct, I do as well sometimes, but then I don't recall you discrediting Tribes just because he is Tribes, which is completely illogical and wrong, oh and I don't agree with him on every single issue either, just for the record.
Now back to my Tribes-shrine before the chicken I wanted to sacrifice runs away...

He is pretty correct in saying that the overspending using credits created this whole mess, everybody linked to funny comics saying just that when the "crisis" began anyhow. And everybody who believes in trickle down is either a manager, related to a manager, blackmails a manager, gets paid very well by a manager to say that or writing from his yacht in the carribean via satellite uplink.

[Vladimir]

Well, when people cannot argue with Tribesman's pinpoint-accurate logic, they always attack his posting style, it's so...desperate...

I'll presume the meaning was lost in translation.

There was no pinpoint-accurate logic. There was only an unsubstantiated and inaccurate allegation with poor follow-up. The root of this financial crisis lay in the 1990's with both parties to blame. Congress wanted to encourage people to seek the "American dream" of owning a home. Evidently congress thought it best to decide what that actually means. This encouraged a cycle of high risk borrowing which ultimately ended in collapse.

Desperate? Hardly. If your style is one of lacking substance than an “attack” is warranted.

I don’t know his intent but it seemed a desperate attempt to pin blame on a dead man from a different era.

Errrrrr......no .
If you cannot see how the spending , tax cuts and credit are all part and parcel of not only the financial crisis but also the geo-political crisis then it is you who is confused .
Yeah sure it was a nice handy short term fix , but the longer term of every aspect is really kicking you in the arse now .

That is called Keynesian economics, not Reaganomics.

[Lemur]

That is called Keynesian economics, not Reaganomics.

I'm missing something. All Husar mentioned was "spending , tax cuts and credit" as part of the global financial meltdown. With a description that vague, he could be talking about almost anything short of a command economy. Could be Reagan-style supply-side or Keynesian demand-side or something else completely.

[CountArach]

you actually want that, why?

What? Action on Climate Change? Of course I want that... it is far and away the biggest threat to not just the economy of Australia but the survival of humanity as well knokw it.

[Husar]

What? Action on Climate Change? Of course I want that... it is far and away the biggest threat to not just the economy of Australia but the survival of humanity as well knokw it.

If our ecenonomies are doing well we can just bribe the climate, just like we solve most other political problems.