200 Economists Reject Bailout

Date 02-02-2009 15:25

200 economists (incluiding 3 Nobel Prize winners) recently signed, and had published, a statement arguing that the bailout will not work.
But I'm sure the argument will be that these guys don't know what they are talking about.

Also, along the same lines.
We often hear the argument that we should learn something from our overseas brothers. In and of itself it is a good argument. So let me offer: 8 times in the 90's the Japanese government offered a bailout for its economy and all 8 bailouts failed. Its called in Japan "The Lost Decade". Now there's a lesson we can bring home.

By uphill

Date 02-03-2009 11:21

What do you imply? I am in 150% agreement. Sounds along the lines of the global warming non conformists? I have a feeling that they too will be silenced by the media for being against the grain so to speak. I am wondering if the new President realizes the shape the country/ world is going to be in if and when the bailout fails. I did not vote for him but he is the boss. I hope he can set aside all of his many big government agenda's untill the economy is strong again. I would venture if he can pull that rabbit out of his hat anything he wants would be a cake walk. We are the world was a crappy song anyway.

Way too much pork on the plate and under 10% for infrastructure. Dont know if the USA can wait long enough for congress to keep adding free hand outs and Payola.

Dave

By js55

Date 02-03-2009 17:21

The primary implication is that most of those who argue for the US learning from our friends overseas (an Idea I support 100% by the way since you'd have to be an idiot to think there is not genius beyond our borders-or that somehow we have all the answers) generally only wish for us to learn from a very small agenda, which has for the most part proven a miserable failure. Anything beyond that is not in the lesson plan. And anybody that disagrees with them is arrogant.
In other words, its not learning that is the crux of the argument but a shallow justification for preconceived notions, as transparent as those adds that claim miracles by using the latest European skin cream.
Oh, and by the way, the latest poll has majority of Americans opposing the bailout as it stands. Someone is actually listening to the economists.
Do what you said Obama. Stand up to your party, listen to the other side of the aisle and CUT THE PORK!!!!