Interesting fact on the bailout

[glovesetc]

There was a poll done by CNBC that was sent to the 500 leading economists in the USA in business, academia, and banking asking whether they were in favor of the bailout or against it . The results were 401 against it and 76 for it and 23 did not respond in time to do the poll beofre its airing . Hmmm guess that says a lot about it .

[21forme]

Being an economist is a great job, just like a meteorologist:
Doesn't matter if you're right or wrong. Make your prediction, then explain why it was wrong, after the fact.

[sagefr0g]

Originally Posted by glovesetc

There was a poll done by CNBC that was sent to the 500 leading economists in the USA in business, academia, and banking asking whether they were in favor of the bailout or against it . The results were 401 against it and 76 for it and 23 did not respond in time to do the poll beofre its airing . Hmmm guess that says a lot about it .

wait one glovesetc that may be a plus for the bail out excepting for consensus a'int all it's cracked up to be lol. but then neither are economistics.
obviously since economistics helped us get in this mess.

[aslan]

Originally Posted by sagefr0g

wait one glovesetc that may be a plus for the bail out excepting for consensus a'int all it's cracked up to be lol. but then neither are economistics.
obviously since economistics helped us get in this mess.

I'm a self styled economist. Don't borrow. Don't lend. Pay your bills on time. Don't spend more than you have. Save for a rainy day. Is there anything else?

[shadroch]

Originally Posted by aslan

I'm a self styled economist. Don't borrow. Don't lend. Pay your bills on time. Don't spend more than you have. Save for a rainy day. Is there anything else?

Try running a small business like that. It would be impossible.
It must be so hard to be so perfect in such a flawed world.

[aslan]

Originally Posted by shadroch

Try running a small business like that. It would be impossible.
It must be so hard to be so perfect in such a flawed world.

I'm joking, Mr. Rocky, joking! Lighten up! But my point is, they've gotten so complicated with their economic theories, that they're no earthly good. Let's put a little common sense back into the equation. It was economic theory that got us started on the road to a 10 trillion dollar debt in the first place, and it doesn't look like it's getting any better lately. Do you honestly think that a 10 trillion dollar debt is better than a theory of don't borrow? One is as absurd as the other!

[glovesetc]

they contributed to the mess as well along with everyone else !

[Brock Windsor]

You guys are quick to rip on the economists but how are they different then card counters? Economic theory is proved right in the 'Long Run' Just like BJ. You will win and lose in the short term, they just play the odds. When 80% of the economists agree this is a bad idea I would not bet against them. (well maybe at 6:1
BW

[aslan]

Originally Posted by Brock Windsor

You guys are quick to rip on the economists but how are they different then card counters? Economic theory is proved right in the 'Long Run' Just like BJ. You will win and lose in the short term, they just play the odds. When 80% of the economists agree this is a bad idea I would not bet against them. (well maybe at 6:1
BW

So which theory of taxes do you subscribe to?

Raise taxes high enough to fund social security, medicare, medicaid, universal healthcare, universal college education, business bailouts, etc. and at the same time reduce the national debt? The citizens will not need the extra money since government will provide for all their needs. Companies will pass increased taxes to the consumer/ individual taxpayer in the price of goods and services, and will cut jobs to save money.

Or Lower taxes to stimulate the economy thereby increasing the revenue stream and creating new jobs, and cut spending on social and other programs that we can't afford or are not necessary and apply excess revenues if any to reduce the national debt? Citizens will use the extra money to spend on their own needs and invest in the financial markets, and companies will use the extra money to grow their businesses and reward their shareholders.


You will find many economists on both sides I suppose.

[sagefr0g]

Originally Posted by aslan

I'm a self styled economist. Don't borrow. Don't lend. Pay your bills on time. Don't spend more than you have. Save for a rainy day. Is there anything else?

are you sure about that?
do you have any bonds?
money in the bank?
aren't bonds and saving in a bank a form of lending?
or is it all or under your mattress?