Wow a Chamber of Commerce official blasting a Democratic proposal..that’s never happened before. He has just as much right to his opinion as anyone else. He presents absolutely no argument or empirical evidence for the charges and as such, the speech is just political rhetoric. References :
Yes! The sad thing is that if they had just learned what happened in what is know as Japan’s lost decade which happened in the 1990’s this could have all been avoided! Japan had a recession caused by an asset bubble and instead of doing what everyone knows will work they embarked on several massive stimulus spending bills! They did get a mild recovery from their recession but later double dipped into an much more worse recession that lasted more than 12 years! The Libs claim to be smarter than any one else and yet either didn’t know about Japans lost decade or didn’t care!
Exerpt from an NPR article on Japan’s lost decade:
"Another lesson from Japan: Don’t try to spend your way out of an economic trough. Japan ramped up government spending on public works projects, including bridges and river "improvement" programs that literally lined many waterways with cement. But it didn’t work, and today the only evidence of this spending binge is the ugly slabs of cement that mar the Japanese countryside.
In other ways, though, the U.S. is more vulnerable than Japan was in the 1990s. Japan has one of the highest savings rates in the world; the U.S. among the lowest. Japanese consumers, flush with savings, maintained virtually the same rates of consumption throughout the 1990s. American consumers have no such savings to draw upon — and, in fact, carry heavy debt loads — including debt accrued through home equity loans.
"It is the debt load of consumers in the U.S. that makes U.S. problems much worse than what happened in Japan," argues blogger Mike Shedlock in globaleconomicanalysis.com.
As many analysts have pointed out, millions of American homeowners used their houses as ATMs. That ATM, however, is now out of service and probably won’t be open for business again anytime soon."
The Chamber of Commerce is right, since the government has said we avoided the big one and are on our way back, you have to take them at their word that they ’saved us’. So, when we head into another dip I guess it will be Obama’s fault. As long as businesses are still tightening their belts trying to ride out this administrations attack on the economy there will be no real recovery. America’s businesses are waiting to see what is going to happen with taxes, health care, cap and trade, government intervention in wages, they are even wondering if the government intends to seize their business if it is deemed to important to trust the private sector to run it. Not many businesses are going to stick their necks out and risk taking out loans and expanding until they know what their futures look like. References :
January 30th, 2010 at 9:39 am
GAAWD SAID
SEND ME YOUR MONEY
the chamber of commerce is CORRPUT
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January 30th, 2010 at 9:51 am
Yes I do. Where are all of the jobs?
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January 30th, 2010 at 10:31 am
Didn’t you just ask this question?
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January 30th, 2010 at 10:46 am
Not really, a "double-dip" insinuates we were in a recession, out of a recession and then back into a recession…
They could be prolonging the recession, but I don’t see how it could possibly be a double-dip
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January 30th, 2010 at 10:53 am
They hate America as much as Wall Street Banks do. Both think all US jobs should be exported to China.
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January 30th, 2010 at 11:01 am
I would not expect them to say anything else.*
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January 30th, 2010 at 11:19 am
Wow a Chamber of Commerce official blasting a Democratic proposal..that’s never happened before. He has just as much right to his opinion as anyone else. He presents absolutely no argument or empirical evidence for the charges and as such, the speech is just political rhetoric.
References :
January 30th, 2010 at 11:40 am
Yes! The sad thing is that if they had just learned what happened in what is know as Japan’s lost decade which happened in the 1990’s this could have all been avoided! Japan had a recession caused by an asset bubble and instead of doing what everyone knows will work they embarked on several massive stimulus spending bills! They did get a mild recovery from their recession but later double dipped into an much more worse recession that lasted more than 12 years! The Libs claim to be smarter than any one else and yet either didn’t know about Japans lost decade or didn’t care!
Exerpt from an NPR article on Japan’s lost decade:
"Another lesson from Japan: Don’t try to spend your way out of an economic trough. Japan ramped up government spending on public works projects, including bridges and river "improvement" programs that literally lined many waterways with cement. But it didn’t work, and today the only evidence of this spending binge is the ugly slabs of cement that mar the Japanese countryside.
In other ways, though, the U.S. is more vulnerable than Japan was in the 1990s. Japan has one of the highest savings rates in the world; the U.S. among the lowest. Japanese consumers, flush with savings, maintained virtually the same rates of consumption throughout the 1990s. American consumers have no such savings to draw upon — and, in fact, carry heavy debt loads — including debt accrued through home equity loans.
"It is the debt load of consumers in the U.S. that makes U.S. problems much worse than what happened in Japan," argues blogger Mike Shedlock in globaleconomicanalysis.com.
As many analysts have pointed out, millions of American homeowners used their houses as ATMs. That ATM, however, is now out of service and probably won’t be open for business again anytime soon."
http://en.wikipedia.org/wiki/Lost_Decade_(Japan)
http://www.aei.org/outlook/27568
http://www.japan-101.com/history/history_lost_decade.htm
http://www.npr.org/templates/story/story.php?storyId=88156284
http://baselinescenario.com/2008/12/21/japan-for-beginners/
Those who do not learn from history are doomed to repeat it!
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January 30th, 2010 at 12:21 pm
The Chamber of Commerce is right, since the government has said we avoided the big one and are on our way back, you have to take them at their word that they ’saved us’. So, when we head into another dip I guess it will be Obama’s fault. As long as businesses are still tightening their belts trying to ride out this administrations attack on the economy there will be no real recovery. America’s businesses are waiting to see what is going to happen with taxes, health care, cap and trade, government intervention in wages, they are even wondering if the government intends to seize their business if it is deemed to important to trust the private sector to run it. Not many businesses are going to stick their necks out and risk taking out loans and expanding until they know what their futures look like.
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January 30th, 2010 at 12:50 pm
No. ><
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