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Trick Question For Obama’s Economic Team

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  • Sat, Nov 29, 2008 - 03:30am

    #1
    Carl Veritas

    Carl Veritas

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    Trick Question For Obama’s Economic Team

 

American taxpayer debt now stands at $10.6 Trillion (Fed government borrows, you pay).

 

Question for the Economic Team—–

How can the US economy create new jobs without adding to the enormous debt or raising taxes?

 

  • Sat, Nov 29, 2008 - 04:21am

    #2
    srbarbour

    srbarbour

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    Re: Trick Question For Obama’s Economic Team

[quote]Question for the Economic Team—–

How can the US economy create new jobs without adding to the enormous debt or raising taxes?[/quote]

A: You borrow as much as you can get away with, then default. Ta-da! No debt.  Tongue out

Steve

  • Sat, Nov 29, 2008 - 04:48pm

    #3

    joe bender

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    Re: Trick Question For Obama’s Economic Team

answer ……………you dont answer the question because they have no interest in creating jobs.

this is about the greatest transfer of wealth in the history of the world. you want jobs ? go to asia

  • Sat, Nov 29, 2008 - 09:01pm

    #4

    krogoth

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    Re: Trick Question For Obama’s Economic Team

Well, they better create jobs, because if the tax burden is on the employed alone, then they would be taxed at about 50-60% on average in the coming years. Imagine working 6 months or more a year on average just to pay back all this crap, because it very well may happen. This burden will grow as more people become unemployed or retire.

 

Close the imports (except oil) and create or manafacture in America only, or make imported products extremely high priced for foreign countries to export into our country, ie extremely high tariffs.

 

 

  • Sat, Nov 29, 2008 - 09:12pm

    #5

    Ray Hewitt

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    Re: Trick Question For Obama’s Economic Team

How can the US economy create new jobs without adding to the enormous debt or raising taxes?

New jobs are built on savings and production from savings. The current system is designed to create money from debt. Expect massive unemployment until savings exceeds the supply of debt money. Government cannot create jobs because it has no mechanism, no feedback, on what consumers value. It mimics the market while misallocating capital. Every time they screw up, they blame the market (consumers) for not doing what they expected.

Obama hired the same retreads that made this mess. Don’t expect them to know what they are doing. All they know how to do is throw money at the problem.

The correct answer for Obama’s team is to get the hell out of the way.

 As a side note, I just found out that Peter Schiff is Irwin Schiff’s son. For those who don’t know Irwin Schiff, he was a leading tax protester back in the 70s, went to jail for it. Considering Peter’s popularity, Irwin is getting his revenge.

  • Sat, Nov 29, 2008 - 09:18pm

    #6

    Ray Hewitt

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    Re: Trick Question For Obama’s Economic Team

Close the imports (except oil) and create or manafacture in America
only, or make imported products extremely high priced for foreign
countries to export into our country, ie extremely high tariffs.

Any attempt to maintain high American wages will only increase unemployment. That was the unlearned lesson of the 30s.

Price controls in any form always create unintended consequences. Taxes in any form always have a negative effect on the private economy.

  • Sat, Nov 29, 2008 - 09:57pm

    #7

    krogoth

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    OK here we go

OK I said nothing about maintaining higher wages for Americans at all. In fact, I think wages should be lowered in general, matched by a much lower cost of living in America (impossible, I know). Higher prices for goods would generally happen for just about anything as long as we have greedy unions and the standard of living we are used to, and unions need to go away, and the standard of wasteful living needs to change dramatically.

You can go many places where the cost of living is much lower, and the standard of living is not better or worse. just different. 

What is needed is a general humbling of America. Other countries don’t beat us because the standard of living they have is worse, but to Americans in general it is worse.

Just because you don’t have a flat-screen 50" TV in every room because you cannot walk 20 feet to the living room to watch 1 TV, 3 cars in the driveway and a house that is way too big usually for the size of your family. Plus you are buying everything you can to keep up with everyone else does not mean you are living better. In fact, you are living wastefully and you are probably overweight. America in general is typically 10-20% overweight indivually and growing.

This is another fundamental base problem in America. What we really need and what we think we need. I have covered this in many posts on this website, so I am not going to rehash it.

Spend some time in India, Vietnam, Korea, Taiwan and China to see how different cultures live. How they are sometimes worse than you think, or sometimes better in ways. The first 2 things they do better is education and taking care of the elderly, and I could go on and on about socialized medicine and other programs they kick the crap out of America with. Some are horrible with the handicapped, which America is generally better at.

Do you need to deal with things you are not used to? Yes because it’s a different way of life. But if you spend some time in these countries and many others, you will learn one important thing. Why can they do it so much more cheaply than America?

It’s not because they don’t have nice houses, or nice cars, or nice things in general. All of these countries have the super rich as well. It’s because the MAJORITY of the people live within acceptable means, support the family unit much more as a whole than Americans do, care greatly for the education of the children, and can live on much lower amounts of money.

Better or worse? Well, that’s perception. As long as America keeps paying for cheap imported goods and cannot support itself internally without international imports or support, we will continue to be bent over. It will come at the expense of jobs, education, higher taxes, lowered health-care, and eventually a forced lower standard of living.

America is getting pushed into 2 classes now, the have and have nots, and the have nots will be growing at an alarming pace. But maybe that’s the wake-up call America needs?

Just 30-35 years ago, Americans typically had 1 car, 1 TV set and a modest house. Healthcare insurance was completly afforadable. Dental insurance was completly afforadable. Perscription drugs were much cheaper. Doctors used to come to your house if necessary. I could go on and on.

 

 

  • Sat, Nov 29, 2008 - 10:33pm

    #8

    Ray Hewitt

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    Re: OK here we go again

I said nothing about maintaining higher wages for Americans at all.

That’s the usual war cry.

As long as America keeps paying for cheap imported goods and cannot
support itself internally without international imports or support, we
will continue to be bent over.

So now cheap imports are bad for us?

What is needed is a general humbling of America. 

It’s getting it, good and  hard. Real hard.

Whatever your reasons, what I said above still stands. Your cure is worse than the disease.

At the root of America’s problems is a dysfunctional economic system based on Keynesian Theory. To my knowledge, every country in the world subscribes to the same belief system. It is not until that way of thinking is thoroughly discredited can a viable economic system take it’s place. It could take decades.

If I have a cause on this site, it is to get people to stop thinking government is the solution.

  • Sat, Nov 29, 2008 - 11:42pm

    #9

    krogoth

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    Retirement should be fun for you

And Hewittr,

Opinions are like assholes, everybody has one

You remind me of a saying my father told me-

Never try to teach a pig to sing, it wastes your time and annoys the pig

Enjoy your future job at McDonalds, Mr. Boomer

 

 

 

 

 

 

 

 

  • Sun, Nov 30, 2008 - 12:13am

    #11

    mainecooncat

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    Re: Trick Question For Obama’s Economic Team

Come on, guys. I thought we were above that kind of stuff on this site!

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