We're screwed

[Archaea]

Originally Posted by ChinoCoug

What if you use generalized numbers like Y=A*L^gK^(1-g) with no actual values?

At some point assumptions and values have to be made, but I understand your point.

[Tex]

Originally Posted by ChinoCoug

Because the first one was way too small! Go figure!

Translation: "Sorry that $50K investment didn't work out ma'am, but if you give me another $50K, I'm sure we can make it grow this time."

Bandits.

[Tex]

I usually ignore email forwards because their one step removed from spam, but this one made me chuckle.

So to honor Cali's and Chino's $800B-isn't-enough-we-need-more-and-more, I offer this email:

Dear Mr. President,

Please find below my suggestion for fixing America 's economy. Instead of giving billions of dollars to companies that will squander the money on lavish parties and unearned bonuses, use the following plan. You can call it the "Patriotic Retirement Plan":

There are about 40 million people over 50 in the work force. Pay them $1 million apiece severance for early retirement with the following stipulations:

1) They MUST retire. Forty million job openings - Unemployment fixed.

2) They MUST buy a new American CAR. Forty million cars ordered - Auto Industry fixed.

3) They MUST either buy a house or pay off their mortgage - Housing Crisis fixed.

It can't get any easier than that!!

P.S. If more money is needed, have all members in Congress pay their taxes...

Mr. President, while you're at it, make Congress retire on Social Security and Medicare. I'll bet both programs would be fixed pronto!

And raise minimum wage to about $25/hr.

Sign me up.

[Cali Coug]

Originally Posted by Tex

I usually ignore email forwards because their one step removed from spam, but this one made me chuckle.

So to honor Cali's and Chino's $800B-isn't-enough-we-need-more-and-more, I offer this email:



And raise minimum wage to about $25/hr.

Sign me up.

Hmm. So when economists suggested about $1.2 trillion in spending (not tax cuts) would be needed to get things going (and it is looking more and more like they were right), Texie then got the impression that would be roughly the same as advocating for a plan which would cost $40,000,000,000,000 (40 million x 1 million)?

Good thinking.

[ChinoCoug]

More on what a "Democrat" economist means:

The following is a Naomi Klein article:

And here there are more problems, because Obama--who taught law at the University of Chicago for a decade--is thoroughly embedded in the mind-set known as the Chicago School.

He chose as his chief economic adviser Austan Goolsbee, a University of Chicago economist on the left side of a spectrum that stops at the center-right.

http://www.thenation.com/doc/20080630/klein

[Tex]

Via the Corner:

Sens. John McCain and Tom Coburn issued a 55-page report on stimulus spending that shows that the package included at least $7 billion of wasteful spending. Here is a sampling from this morning's newspapers:

Politico reports "$4.7 million for Lockheed Martin to study supersonic corporate jet travel," more than "$210,000 for the National Institutes of Health to study the sex lives of college students," and "roughly $233,000 for California college students to conduct exit polls in Africa about voting patterns."

CBS Evening News adds "$221,000 for a study on why young men don't like condoms, $5 million to provide geothermal heat for a Tennessee mall that's all but empty, and $950,000 for studying ant behavior at two Arizona universities."

...

The Washington Times explains that "the nearly $1 million in stimulus money being spent to study the division of labor among ants and the $400,000 spent to catalog Buffalo, N.Y., residents' drinking and drug habits are proof that President Obama's $787 billion economic recovery program is filled with waste."

And of course, Drudge tells us $6M went to Hillary's pollster Mark Penn.

I'm sure this is exactly what Keynes had in mind.

[Tex]

[ChinoCoug]

Dang, Bush messed things up beyond my wildest imagination.

[Archaea]

Originally Posted by ChinoCoug

Dang, Bush messed things up beyond my wildest imagination.

You've got more humor than I imagined.

Going with the flow of economic thinking doesn't always work, does it?

[Tex]

Originally Posted by ChinoCoug

Dang, Bush messed things up beyond my wildest imagination.

So in your mind, Obama gets a complete pass for the utter failure of the stimulus package. I never knew you to be so generous during the Bush years, Chino.