What Would a Conservative Do?

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What Would a Conservative Do?

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NCVol:
...to turn around this economy.

What is the first bill a republican Congress should pass to end this depression?

Jeremy Roenick:
It's real easy to identify what's wrong with the economy vs. what is appropriate to fix it. I have many opinions about the economy, as you and I have discussed, but where to begin fixing it is a good question. It's like asking the captain of the Titanic, 20 minutes after hitting the iceberg, "what are you going to do to prevent the sinking of this ship?".

One thing has to be identified and realized here, we are going through an UNPRECEDENTED contraction in our economy. It really underlines how big the bubble was. Everyone needs to realize that we are going to go through a cycle of savings and paying down debt (both personal and governmental) for years to come. So expecting to turn around sales figures, stimulate growth in industry, swing GDP back to a stronger side, etc. won't happen for a number of years until this reset has completed.

So there is no "quick" solution to fixing the economy. Anything quick is "stimulus" and thus more steroids to keep the high going in order to manipulate the numbers and to make seem that growth is happening when it is not.

NCVol:
I understand there isn't a silver bullet - we've taken several decades to get to this point, and we won't be turning it around in the next six months. At some point, though, we do have to identify the problem or problems, specifically, and at least talk about how to address it.

IMO, the problem is demand has plummeted because we can no longer finance improvements in our lifestyle by going further into debt. Wages have been flat for three decades. And most families are two earners, so we can't make up for stagnant wages for the prime earner by adding a second earner to the household. So what do we do?

The problem I have with the "conservatives" and the WH is we can't even discuss this problem. We continue to push for trade agreements that have the effect of pitting U.S. workers against the billions in the world who make a few pennies, or in the good economies, a couple dollars, an hour. I don't see how that can possibly result in rising wages here. So either we accept a race to the bottom, or a world where worldwide wages converge much lower than we are used to here, or we do something to change the equation of U.S. workers competing with those in China.

How do we ask workers here to compete with a place where $3 an hour is great, engineers make what a person at Walmart makes, and they live in a cloud of smog every day from coal burning plants that spread the cost of pollution from polluters and energy users (aka U.S. based manufacturers supplying Walmart and all the big box stores with cheap, imported goods) to 1.4 billion individuals who are dying at the rate of several hundred thousand people a year of lung disease and related ailments.

If that is what we compete against, we lose, and the American worker is f***ed. At least that is the way I see it.

Flummoxed Lummox:
Give more tax cuts to multimillionaires. That is the ONLY economic solutions conservatives know.

Sasquatch:
Quote from: Flummoxed Lummox on September 02, 2010, 11:12:27 AM

Give more tax cuts to multimillionaires. That is the ONLY economic solutions conservatives know.

Interesting: :o

WH economist calls for more spending, less taxes

Departing White House economist Christina Romer says the government has the tools for bringing down unemployment, but policymakers need to find the will and wisdom to use them.

http://news.yahoo.com/s/ap/20100901/ap_on_bi_ge/us_obama_economist_1

Can we also get some research on the number of dems who DO NOT want the Bush tax cuts to expire?

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