[DeTomaso] Fwd: fixing the economy (npc content)

[Christopher Kimball]

It was government spending that prolonged the depression.  Socialist policies always damage a free economy.  Unless our Country can generate massive GDP output, raising taxes will be the only way to pay back the enormous debt being created by our current administration.  We are now approaching 12 trillion of bailout money--the entire annual GDP of the USA is about 14 trillion.  That means this government is spending more money than the total amount spent by every previous president added together.

 

Winston Churchill said "For a nation to think it can tax its way into prosperity is like a man trying to lift himself out of a bucket by pulling on the handle."

 

Sincerely,

 

Chris

Pantera owner and Certified Financial Planner, MSFS, AEP, CMFC, CLTC, CLTC, LUTCF 
 
> From: RFogle1 at aol.com
> Date: Fri, 3 Apr 2009 16:03:27 -0400
> To: JDeRyke at aol.com; asajay at asajay.com; detomaso at realbig.com
> Subject: Re: [DeTomaso] Fwd:  fixing the economy (npc content)
> 
> I guess I don't know how the government can fix much of anything, and 
> lately I've heard the the economists now think FDR's spending just 
> prolonged the depression....
> 
> 
> It's interesting, it really depends on what economists you listen too. I've 
> been reading articles, for the last three or four years, written by 
> economists who are followers of the Austrian school of economics. 
> 
> <_http://en.wikipedia.org/wiki/Schools_of_economics_ 
> (http://en.wikipedia.org/wiki/Schools_of_economics) >
> 
> Their thoughts make sense to me, and do not rely on complicated formulas 
> that only a few people in the world understand. These guys, and women, 
> predicted what we are experiencing today, but their opinions have been marginalized 
> by the mainstream, media, bureaucrats and economists. They only talk about 
> Keynesian economic theory, that in this situation, prescribes government 
> spending to make up for a lack of consumer spending, a la Hoover. Keynesian 
> economists justify today's spending by saying Hoover's mistake was that he did not 
> spend enough. We're not going to make that mistake again! Most of the 
> Austrian guys, say that this will only make it worse. The Fed. is in effect 
> printing money, and every time they print a bill out of thin air the one in your 
> pocket is worth less, which means inflation, and lots of it. Austrians also 
> blame the Federal Reserve for artificially keeping interest rates low. Low 
> interest rates create cheap money and cause home buyers, investors and business 
> people to make purchase decisions based on the cost of money rather than the 
> underlying value of the asset. They tend to overpay, think Barrett 
> Jackson. That 68 Cuda has been worth 30 - 40K for years, what suddenly makes it 
> worth 200K? Low interest rates also discourage savings and the accumulation of 
> capital that is needed to create new businesses and jobs. In the past when 
> people got layed off, they would tap their savings and start a small 
> business. That's not going to happen now, most people are tapped out, and upside 
> down. 
> 
> Don't get me started, Ron
> 
> Ronald M. Fogle
> 
> President
> Cuyahoga Valley Management, Inc.
> PO Box 102
> Cuyahoga Falls, OH 44222
> 330-592-5189 phone
> 216-581-6494 fax 
> 
> 
> In a message dated 4/3/2009 2:54:19 P.M. Eastern Daylight Time, 
> JDeRyke at aol.com writes:
> 
> In a message dated 4/3/09 11:19:27 AM, Ken Green <kenn_green at yahoo.com> 
> writes:
> 
> I guess I don't know how the government can fix much of anything, and 
> lately I've heard the the economists now think FDR's spending just 
> prolonged the depression....
> 
> With your elected representative's vote of yesterday on the "budget". the 
> U.S. is now not qualified to join the European Union (should it desire to), 
> due 
> to its overwhelming public debt. Bulgaria is better off debt-wise.... Color 
> me 
> disgusted- J Deryke
> 
> 
> 
> 
> 
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