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Date Posted: Thursday, October 30, 12:54:39pm
Author: Adam Smith
Subject: Re: Loyal and his RED colored glasses
In reply to:
John T Cella
's message, "Loyal and his RED colored glasses" on Wednesday, October 29, 10:21:48pm
You know who else is RED? The Economist. Those pinkos.
Luckily, the Financial Times will think straight about this. Oh wait, they must be commies, too.
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Adam Smith.......you got a pass.... -- John T Cella, Thursday, October 30, 03:11:50pm [1]
..as a mystery poster the first time but not now. You obviously did not read your entire treatise and it might be noted that 1750-60ish Scotland has little bearing on a modern economy. Heck, they didn't even have "the clearances" until 1780. That was oppression of the people by the upper classes. You also felt that one should be compensated for the amount of risk you assumed to be productive and "refers to the ability of the market to correct for seemingly disastrous situations WITH LITTLE OR NO INTERVENTION on the part of govenment..." You really should not argue from the particular to the general without a sounder understanding of the subject. I like both the Economist and Financial Times as interesting and insightful publication but then I also enjoy the BBC - only problem is that they are all of British origin and we declared our independence from them over 200 years ago. You, like Loyal, are typical liberals who cannot respond on point to issues raised. We have already tried protectionist policies with excessive taxes and drove a recession into a depression. FDR, after spending his butt off with two New Deals still had excessive unemployment and a sluggish economy but had WWII to bail him out of a failed economic policy. I know, Jersey City would not have had the Medical Center without him but then he would not have had a 2nd term without the Hudson County Democratic Machine. Carter gave us double digit inflation an interest rates in the 20% range. Regan gave us reduced taxes, a world view and 20,000 mm new jobs. Clinton gave us the mortgate mess and allowed super computers and missle guidance systems to Red China. I am not a fan of either of the Bushs and feel that there is enough blame to go around but get serious. At least have the intellecutal honest to address the corruption of Charlie Rangel, Nancy Pelosi, Barney the frank and Chris Dodd. I also assume that you support turning this country into an entitlement state and the ability of liberal courts to legislate from the bench. p.s. BO was the one who cast the final vote that prevented FNM and FRE oversight to come out of committee for a floor vote. I apologize but I just can't support bread and ciruses for the masses. It didn't work in Rome and it won't work now. The individual has to become personally responsible once agian. With warmest regards, John IO PAVO!
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Re: Adam Smith.......you got a pass.... -- Sludge, Thursday, October 30, 03:29:45pm [1]
Well said John. Unfortunately there is not enough "depth" here to allow for some to absorb. The feel good, easy alternative is what most find more convenient to accept. Equality to achieve, not equality of result is a distinction beyond which most are unable or unwilling to comprehend.
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Re: Adam Smith.......you got a pass.... -- Adam Smith, Thursday, October 30, 04:18:15pm [1]
We were driven into the Great Gepression by the Republican policies of Herbert Hoover. Now, McCain seeks to emulate those wrong ideas. Freezing government spending at a time when we need massive fiscal stimulus is a mistake.
To pin the current financial crisis on Clinton is only half true. Yes, Clinton did sign the Gramm-Leach-Bliley Act, the spearhead of that financial wizard Phil Gramm.
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Re: Adam Smith.......you got a pass.... -- Plum, Thursday, October 30, 05:53:39pm [1]
Here's a quick overview of the causes of the Great Depression.
http://en.wikipedia.org/wiki/Causes_of_the_Great_Depression
The assignment is to complete the approrpriate reading and then, using your Jesuiut instilled abilities, submit a essay which, employing nuance and logic, (and hopefully wit) compares, then prioritizes the aforementioned list of probable causes. This, or forever hold your unscholarly tongue.
For those disposed to singling exhorbitant taxes on the wealthy as the primary cause of the last Depression, and therefore, one linearly presumes, the most likely cause of another Great Depression, please expatiate upon the expected similiarites in economic impact between raising the highest tax rate from 36% to 39% percent, as currently proposed, and the increase in 1933 from 25% to 63%. And for that matter, please explain, if high taxes are the cause of Depressions, why we were able to emerge from the last Depression with top tax brackets hovering around 90%?
Next week's assignment will be on the topic of government spending creating opportunities for the accumulation of private wealth while stimulating economic expansion and recovery. (We'll start with the railroads.)
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Sorry for the occassional error in grammer and -- John T Cella, Thursday, October 30, 03:20:21pm [1]
..construction. Should have proof read a tad more diligently but distracted by market movements. Just trying to be a capitalist.
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Re: Sorry for the occassional error in grammer and -- John T Cella, Thursday, October 30, 03:25:21pm [1]
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