Thursday, January 12, 2012
thoughts on this a.m. squawk spot
There are a couple additional points i wanted to make this morning but we ran out of time..Steve accused rick of rooting against the economy to insure conservatives success at the nov elections..I dont think there is anything wrong with understanding that the small amount of economic improvement that we are experiencing now could come at the expense of much greater improvement down the road..None of the structural problems that are keeping gdp subdued have changed, yet there is less inclination for the people to vote for change if things seem "ok"..The 2 biggest impediments for a acceptable recovery are 1) a policy change that would allow people who are underwater on their mortgage the ability to refinance at the current interest rates and 2)(this one is more important) a vastly changed corporate tax policy that provides incentive for companies to create domestic jobs...The latter is slightly different than the obama plan which is to ASK companies to create jobs by appealing to their patriotism...Is there a bad time for an economic recovery?? Will we have 4 more years of the democrats "everything for everyone" mantra??feedback welcome
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Keynesian economics and socialism are failures. Rick understands that and Steve does not. You made a critical error in logic when you said "those are the only numbers we have", implying that we should accept them. See John Willams work at shadowstats.com as one counterexample. The Senator made some good points also about real unemployment and underemployment.
ReplyDeleteOne of the foundational principles for success in our economy is contract law. Housing must clear at market prices according to contract without government interference. If this had been done at the outset, the housing market would already be in recovery without the debt and foreclosure overhang.
I do agree that simpler tax policy is needed for everyone, not just corporations.
Carping about "regulation and "tax policy" is bull. Companies will expand and hire where they see opportunity to make money!! I heard Mark Cuban the other day, he never does a deal thinking about what the tax rate will be in the future....that's the tail wagging the dog thinking!!
ReplyDeletedan,i think if you're basing your entire argument on mark cuban you might be getting too narrow a sample...and, of course you are correct"if they see an op to make money" thats why they open plants in china cause they can make money there and they cant here...we have to be competitive to get companies the opurtunity to make money...if we dont we lose...
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