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Saturday, September 1, 2012

#Bernanke, #FedChief, makes case for #Independents to #Vote #Obama #NYTimes

Deficit expenditures are generally recouped by the resulting economic expansion (certainly in human terms, when they get jobs).  The GOP, Romney and Ryan when not flip flopping or using double speak have done everything they can, cynically, to block stimulus and economic expansion.

They believe that independent voters are going to be persuaded that keeping your neighbor unemployed or underemployed and denying their children support via healthcare or education will put the nation on a better track

Fed Chairman Makes Case, in Strong Terms, for New Action (New York Times)

JACKSON HOLE, Wyo. — The Federal Reserve chairman, Ben S. Bernanke, delivered a detailed and forceful argument on Friday for new steps to stimulate the economy, reinforcing earlier indications that the Fed is on the verge of action.


Calling the persistently high rate of unemployment a “grave concern,” language that several experts described as unusually strong, Mr. Bernanke made clear that a recent run of tepid rather than terrible economic data had not altered the Fed’s will to act, because the pace of growth remained too slow to reduce the number of people who lack jobs.

  An Earlier Related Blog Entry ... Let's not repeat history !!!

FDR vs Paul Ryan, #1938 all over again

.... Although I am not a scholar on the history of the Great Depression, it has been described to me by my family and I have read about it ... which makes me as qualified as most of the people pontificating about the situation we find ourselves in today.  People like to disparage the economist Keynes these days ... all he said was that there was a little simple algebra that roughly describes the interactions of interest rates, employment, income and consumption!  Trust me ... it is still true!  You have a big crash, a reduction in income, a shrinkage of asset values and you are going to have a recession / depression!  What would you do ... Mr. President ... well Keynes would tell you to supplant the loss in consumption with Federal spending to boost / maintain employment or reduce low / middle income taxes or both ... but not if you are a conservative Republican!  In the latter case you focus on finding an anti-FDR solution ... contract spending, raise interest rates and increase unemployment. ... (see the rest by link)

WI 1848 Forward: #Bernanke, #FedChief, makes case for #Independents to #Vote #Obama #NYTimes #47% #99% #ows vs #elites

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