reply to post by 727Sky
Let's cut the BS.
All these current scandals and attack on the President are nothing more than a republican ploy to avoid discussing, debating and finding a common
ground to build upon to grow the economy.
The tea party are extremists, because they REFUSED any compromises and DEMANDS that their insane and flawed economic theory is the only solution to
distribute wealth to all americans and see growth to the economy, by cutting spending and not raising taxes on the super rich whom have more money
than brains to spend them on.
How more stupid can one get? Did austerity worked in Europe? Nope. It was an unconscionable UTILITARIAN plan to starved out the common masses so that
whatever revenues the govt have, is just enough to retain power and feed whomever is left.
Every true economist worth his salt knows that in good times, a man saves money, and in bad, to spend. Simply because when the times are good, it will
not be forever. As long as there is enough to eat, the balance can be saved for a rainy day.
And when the rainy comes, he spends, as cash is king and he can buy up failed properties and biz, and even manipulated the markets if he wish.
A nation should be like that man, to save and build up his reserves. But unfortunately, previous presidents had decided to use loans instead of saving
up, and thus the high debt of $17 Trillion today.
However, to discontinue such loans, would only spell disaster to the nation, as the world is in recession, going through bad times, and EVERY rich
person hoarding up money, not circulating it. So where then is growth going to come from? Certainly not from the private sector as they are hoarding
up wealth. Then how is the debt gonna be paid?
It falls upon the govts to keep the supply going, not by building useless white elephant projects, but projects that would ensure returns in term of
finances and productivity, such as better roads, electrical cost reducing buildings, more street lamps to facillate safety and night shopping/service
industries, etc, etc.
When a $10M govt tendered project is awarded, the company makes a profit of $1M, and pays off the balance $9M for materials and labour.
The money circulates through everyone, from the miner who dug up the mineral, to the construction worker, and with their money, they pay for services
- fuelling other industries in turn, with the govt receiving tax revenues back in the end - through the project worker salaries to the eventual
purpose for the project - rentals or tolls or productivity which can translate into financial terms.
With such revenues returned, it leads to growth, and then the private sector will jump in and in time, the GDP will rise 3 times its current value,
more than enough to pay off any debt.
The only worry about stimulus is that the money should not be use for unproductive and wasting means, such as building roads to nowhere, or for
corruption, or for the construction of more apartments by the rich whom with excess funds, for property speculation is gambling and will only rise up
the value of properties, making it unaffordable for the young generation to rent even, let alone buy.
Property is the best gamble,as it offers highest returns than banks in rental and sale within short terms, and poses no headaches for the rich to
worry about such as investing in manufacturing or services, but it ony hurts the young and creates the extinction of manufacturing/services and
progress. Thus, the rich cannot be allowed to conduct such unconscionable ways to park their hoarded funds.
Manufacturing and services, while are complex and labour intensive, are the only means for a nation to progress and evolve. as it involves innovative
science and tech of the higest levels and creates massive employment for all, and more importantly it circulates wealth.
All these needs money, and it will give returns in more ways than one. But to cut spending, stop loans and don't raise taxes on the rich, where then
is the money gonna come from?
When austerity happens, depression will strike and even the rich will see their funds dry up and end up queuing at the soup kitchen like everyone
else, because when money is NOT circulated, even the rich hoarded funds will have to come out to pay for their living expenses, and will be drained
one day, worse in depressions as inflation may be in thriple digits for necessities.
As schools will close down, only those with brains and skills will be in high demand and they will be the few and command the prices. As no one can
afford labour, mineral and agriculture lays untended, or those tended by families, is sold at high prices.
May the republicans stop screwing the american people and stop playing their economy deflecting games.