Fiscal Stimulus Still the Only Remedy

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Monday August 01, 2011 · 4:18 PM PDT

2011/08/01 · 16:18

What’s so disturbing about the deficit reduction fiasco is that it fails to address the problem that’s in front of our face. Yes, of course, the deficit is a problem and has been since President Bush’s two tax cuts were enacted, but it’s a long term problem that can’t be fixed until the economy is on better ground. The current problem is aggregate demand, which clearly won’t improve with austerity programs.

While I’m no economist – my degree is in Finance - I’ve read quite a bit of about the subject - Smith, Hayek, Fischer, Keynes, Freidman, Minsky, etc. – and feel comfortable enough to conclude that the theory that best explains the current situation is that of Richard Koo, Chief Economist for Nomura Securities in Japan. I’ve read his book The Holy Grail of Macro Economics: Lesson’s From Japan’s Greatest Crisis and have seen a couple of talks he has given that are available on ITunes. (There is a podcast of a talk he gave at the Lowy Institute in February 2011 entitled The Long Haul Towards Economic Recovery and an ITunesU talk he gave at the Center for Strategic and International Studies in 2009.) I can’t recommend the book or the talks enough.

billj1

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Wednesday November 03, 2010 · 11:00 AM PDT

2010/11/03 · 11:00

Our new speaker of the House is a guy who campaigned last week for Rich Iott (R-Ohio), a guy who likes to dress up like a Nazi. The third man in line to Presidency could very well be a guy who countenances men who dress up like Nazis. It's not one of those false Hitler/Nazi analogies that we hear from time to time, Iott dressed up like a Nazi and Mr. Boehner still agreed to be photographed with him. You'd have thought anyone with a hint of brain activity would have walked away. Not our adorable Mr. Boehner.

billj1

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Tuesday February 09, 2010 · 7:00 PM PST

2010/02/09 · 19:00

Sarah Palin is a national security risk. We are in negotiations with Iran on issues of grave importance and this nutcase starts talking about invading Iran. Now, I know I have 40 year old barbells down in my basement with more brains and "common sense" than she does, but for some reason she gets a lot of media attention and what she says can impact national events, especially when the receiver of the message is as ill-informed and paranoid as her.

billj1

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Tuesday February 02, 2010 · 1:24 PM PST

2010/02/02 · 13:24

Let me get his straight, no health care reform, no cap and trade legislation, no banking legislation, no jobs bill, Guantanamo still opened, no trials for terrorists... Do I need to go on? Why did I vote for the Democratic Party? Why do I give them money? And, why hasn’t anyone been fired? I’m sorry, but with majorities in both houses and no results it has to be asked.

billj1

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Wednesday December 16, 2009 · 8:25 PM PST

2009/12/16 · 20:25

I'm struck by the complete lack of competent leadership of the Democratic Party. It's absolutely shocking. Can you imagine Lyndon Johnson putting up with this? They have a majority in both houses and they can't pass a health care bill. Instead I see Howard Dean arguing with Senator Landrieu on Hardball. I know Will Rogers was joking – I don’t belong to an organized party, I’m a Democrat – but this goes beyond the pale. Clearly, the Democratic Party is a ship without a rudder and it's about time someone gets control of the boat before it hits an iceberg. Who is at fault for this? Let me count the ways.

billj1

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Monday November 16, 2009 · 9:01 PM PST

2009/11/16 · 21:01

Over the past few days I’ve seen the debate on trying terrorists in American courts and I’m shocked by the willingness to even discuss an alternative. Yeah, I get the fact that torture is going to be a part of the trials and the defendants may have a pedestal to advance their foolish beliefs, but my experience with the law is that generally it works pretty well, particularly when both sides are adequately represented.

billj1

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Sunday August 16, 2009 · 6:31 PM PDT

2009/08/16 · 18:31

Dear Mike, I just heard that you said you would "never vote for a bill to kill old people, period." Yeah, no kidding, but the last time I checked, no one is asking you to vote to kill old people. We are asking where you stand when it comes to 45 million uninsured Americans; the 18,000 Americans who die each year from lack of coverage; the numerous state and local governments who pay for the care of the uninsured; or the million, yes, million of taxpayers who file bankruptcy each year because of unpaid medical bills. Do you stand with them, Mike, or do you stand with the lunatic, stupid, irrational, greedy, racist, fringe? It’s that simple, Mike.

billj1

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Monday August 10, 2009 · 8:49 PM PDT

2009/08/10 · 20:49

I'm not sure how the "Deather" story has become a story, but it's a great opportunity to disabuse us some right wing wackos. It became obvious to me at lunch today that no one knows where the "death panels" comes from, so I took upon myself to find out and I think I figured it out. It turns out that on Page 425 of the House's Plan, Section 1233, there is a new benefit under Medicare, I repeat benefit, that provides for an "Advanced Care Planning Consultation" that will be paid for by Medicare.

billj1

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Thursday August 06, 2009 · 9:30 PM PDT

2009/08/06 · 21:30

I’ve heard a week of broadcasts about "town halls" being taken over by the lunatic right wing and can only conclude the Democrats ability to screw up an opportunity is mind-boggling. How can a party with a Democratic President and majorities in both houses screw up health care? We’ve been waiting for some sort of national health care program for more than 60 years and what do these dopes do, they sit on it for another month and allow the lunatic fringe to take control of the debate.

billj1

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Wednesday March 25, 2009 · 8:41 PM PDT

2009/03/25 · 20:41

House Minority Whip Eric Cantor (R-VA) took some time off last night to see a Britany Spears concert. Now I don't besmirch a man his free time and generally operate on the "live and let live" principle, but Britany Spears? What possible excuse could he have for being at the show? Well, it's being reported he went at the request of a fundraiser; taking one for the team, I guess.

billj1

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Tuesday February 03, 2009 · 8:55 PM PST

2009/02/03 · 20:55

Barack, enough with placating Republican. Who cares. They ran our country into the crapper and we still have to play nice? Enough already. Give the bipartisanship experiment a rest. It isn't going to work and you look weak. Just cut your losses and jam it down their throats.

billj1

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Tuesday December 30, 2008 · 8:07 PM PST

2008/12/30 · 20:07

I'm sorry but the appointment of Roland Burris was a good one. He's well respected, honest and would do a good job for Illinois and America. So what that he was appointed by a dope. Remember Truman. Wasn't his sponsor the head of an organized criminal enterprise? It's guilt by association and it is un-American. And, by the way, Blago is still legally the Governor. I don't like it anymore than anyone else, but until he leaves he has the power and in my view the obligation under Illinois' Constitution to appoint a Senator. And what do the powers that be say? No, Burris is not going to be allowed to sit and Illinois isn't going to be represented because it would have the taint of impropriety of such an august body? Please.

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Fiscal Stimulus Still the Only Remedy

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We Need Some Effective Leadership, Now.

Bugger off Liz Cheney and let the trials begin.

A Letter to Mike Ross (D-Ark) and his ilk

Where are the Deathers Getting Their "Information"?

You can't be reasonable with someone who isn't.

Eric Cantor, Male Prostitute

Democrats, stop playing nice.

Senate's sanctimony disgusts me. Where has it been?