What say you?
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What say you?
Actually it's saying to repair old bridges. That may help the economy if a bridge was to fail and led to economic inactivity.
"He's talkin' to his gut like it's a person!!" -me
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"Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul
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wow, a FRB did a study that just happens to say that more spending = massive growth. color me surprisedA new paper from the Federal Reserve Bank of San Francisco (FRBSF), goes into detail on the economic benefits of infrastructure construction and repair.
What they found was that within the first year of any infrastructure project, a solid 10% GDP growth grew out of that project.
so it has been more than 1 year since they spent all of the money on roads, where is all the GDP?
ok, the author loses all credibility with this statement
bold mineIf one seeks a conservative viewpoint, it is hard to find one more conservative than the Federal Reserve. It remains one of the dullest, most conservative departments of government imaginable,
Last edited by TonySutton; 12-04-2012 at 01:40 PM.
Insanity should be defined as trusting the government to solve a problem they caused in the first place. Please do not go insane!
When the hell was the last time the Republicans fought to make any real cuts in anything whatsoever - let alone "huge" ones? And it concludes with this scintillating little gem:Of course, the Republicans in congress don’t care about this. They are fighting to make huge cuts to infrastructural improvements,
So ... some pro-stimulus partisan hack is impressed by the fact the the Federal Reserve (the engine that makes "stimulus" possible) has put out a "study" which concludes that stimulus is a wonderful idea. Gee, imagine that.If one seeks a conservative viewpoint, it is hard to find one more conservative than the Federal Reserve. It remains one of the dullest, most conservative departments of government imaginable, making even the IRS look like party animals by comparison. When the Federal Reserve is telling you that money should be spent on infrastructure, it is high time for the Republicans in Washington DC to listen. It was through gigantic projects like Hoover Dam and the Interstate Highway System that the United States grew into the world power it is today. A similar program today could restore us, and it is Republican Obstructionism which is holding back the economy. If they do not change their tune, they will be decimated in 2014.
Last edited by Occam's Banana; 12-04-2012 at 01:40 PM.
"A free man must be able to endure it when his fellow men act and live otherwise than he considers proper. He must free himself from the habit, just as soon as something does not please him, of calling for the police." -- Ludwig von Mises, Liberalism (p. 55)
"The evil that a man inflicts on his fellow man injures both - not only the one to whom it is done, but also the one who does it. Nothing corrupts a man so much as being an arm of the law and making men suffer. The lot of the subject is anxiety, a spirit of servility and fawning adulation; but the pharisaical self-righteousness, conceit, and arrogance of the master are no better. [...] The criminal has incurred the penalties of the law, but not the hate and sadism of the judge, the policeman, and the ever lynch-thirsty mob." -- Ludwig von Mises, Liberalism (p. 58) [bold emphasis added]
Real, sustainable economic growth comes from the accumulation of capital and the resulting increases in productivity. Government is the enemy of capital accumulation.
The proper concern of society is the preservation of individual freedom; the proper concern of the individual is the harmony of society.
"Who would be free, themselves must strike the blow." - Byron
"Who overcomes by force, hath overcome but half his foe." - Milton
Last edited by The Free Hornet; 12-04-2012 at 04:58 PM.
building infrastructure in so much that it facilitates the economy, is good. building a bridge that services no one is no different than paying people to dig ditches then fill them back up again.
Investment in infrastructure can affect growth positively. But it can do that in boom and it bust situations. If an investment has an expected positive return, you invest. If not - don't invest. It's not true that investing in otherwise unprofitable infrastructure is a wise thing to do during recessions. Recessions are exactly the reallocation of badly allocated capital resources. You won't solve that problem by allocating even more resources to the wrong places.
Were the people that used to have jobs.......having trouble getting to work?
If suddenly every road and bridge was perfect, would that have made a difference?
Y = C + I + G + NE
They think increasing G will increase Y. We all bow down to GDP....
"It's probably the biggest hoax since Big Foot!" - Mitt Romney 1-16-2012 SC Debate
Bridges only help if there's a reason to cross them.
Oligarchy delenda est
“If you love wealth greater than liberty, the tranquility of servitude greater than the animating contest for freedom, go home from us in peace. We seek not your counsel, nor your arms. Crouch down and lick the hand that feeds you; May your chains set lightly upon you, and may posterity forget that you were our countrymen.” - Samuel Adams
Well , for 3 million per year salary and matls , I will be willing to detonate one bridge per week. This should help immensely ( not ) , I can take 2 weeks vac and do one in each state.Tell the Fed to pm me when I should start, I need to put in some FMLA papers at my job , lol.What a bunch of douchebags.