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	<title>Comments on: An Economist Speaks</title>
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		<title>By: Dave_Schuler</title>
		<link>http://themoderatevoice.com/46755/an-economist-speaks/comment-page-1/#comment-215729</link>
		<dc:creator>Dave_Schuler</dc:creator>
		<pubDate>Sat, 19 Sep 2009 13:38:02 +0000</pubDate>
		<guid isPermaLink="false">http://themoderatevoice.com/46755/an-economist-speaks/#comment-215729</guid>
		<description>&lt;i&gt;And here’s what I say now. The Fed didn’t pull us back from the edge of the economic abyss. We fell into the abyss. We’re still falling. The economy wasn’t saved, the banks were saved.&lt;/i&gt;&lt;br&gt;&lt;br&gt;Were the banks saved or were the bankers saved?  From the numbers of banks who still have &quot;toxic assets&quot; on their books and are believed to be insolvent, I&#039;d say the latter.</description>
		<content:encoded><![CDATA[<p><i>And here’s what I say now. The Fed didn’t pull us back from the edge of the economic abyss. We fell into the abyss. We’re still falling. The economy wasn’t saved, the banks were saved.</i></p>
<p>Were the banks saved or were the bankers saved?  From the numbers of banks who still have &#8220;toxic assets&#8221; on their books and are believed to be insolvent, I&#39;d say the latter.</p>
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		<title>By: Leonidas</title>
		<link>http://themoderatevoice.com/46755/an-economist-speaks/comment-page-1/#comment-215710</link>
		<dc:creator>Leonidas</dc:creator>
		<pubDate>Sat, 19 Sep 2009 10:31:27 +0000</pubDate>
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		<description>Economists seems to agree with each other about as often as Democrats and Republicans do.</description>
		<content:encoded><![CDATA[<p>Economists seems to agree with each other about as often as Democrats and Republicans do.</p>
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		<title>By: michaelD</title>
		<link>http://themoderatevoice.com/46755/an-economist-speaks/comment-page-1/#comment-215662</link>
		<dc:creator>michaelD</dc:creator>
		<pubDate>Sat, 19 Sep 2009 04:06:15 +0000</pubDate>
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		<description>bravo, mr. silverstein ... you have squarely hit the nail on the head.  i&#039;m frequently incensed by the talking head economists, investors and traders [traitors?] who frequent the media, championing the grand recovery.  to those who claim that the recession has ended i reply:  of course it has; it was replaced by the current depression.&lt;br&gt;&lt;br&gt;the rule of law was suspended years ago and has yet to be reinstated.  it seems the change we sought cannot be believed in.  laws seem intended to keep the general population in check and are inapplicable to the thieves and charlatans running [ruining?] what&#039;s left of our once great nation.  class warfare in the form of wealth transfer is ongoing, pernicious and ominous.  instead of trickle-down economics we&#039;ve been thrashed with an upwards gush ... the lawyers, the banksters, the democrats and the republicans have squeezed  and squeezed and squeezed.  the turnips are bled white. in the place of the fourth estate we have corporate-owned and operated media outlets telling us how well off we are while our fiat currency struggles to retain a mere five percent of its value since the central bank came into existence.&lt;br&gt;&lt;br&gt;hat tip to you, sir.</description>
		<content:encoded><![CDATA[<p>bravo, mr. silverstein &#8230; you have squarely hit the nail on the head.  i&#39;m frequently incensed by the talking head economists, investors and traders [traitors?] who frequent the media, championing the grand recovery.  to those who claim that the recession has ended i reply:  of course it has; it was replaced by the current depression.</p>
<p>the rule of law was suspended years ago and has yet to be reinstated.  it seems the change we sought cannot be believed in.  laws seem intended to keep the general population in check and are inapplicable to the thieves and charlatans running [ruining?] what&#39;s left of our once great nation.  class warfare in the form of wealth transfer is ongoing, pernicious and ominous.  instead of trickle-down economics we&#39;ve been thrashed with an upwards gush &#8230; the lawyers, the banksters, the democrats and the republicans have squeezed  and squeezed and squeezed.  the turnips are bled white. in the place of the fourth estate we have corporate-owned and operated media outlets telling us how well off we are while our fiat currency struggles to retain a mere five percent of its value since the central bank came into existence.</p>
<p>hat tip to you, sir.</p>
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		<title>By: ProfElwood</title>
		<link>http://themoderatevoice.com/46755/an-economist-speaks/comment-page-1/#comment-215661</link>
		<dc:creator>ProfElwood</dc:creator>
		<pubDate>Sat, 19 Sep 2009 03:41:52 +0000</pubDate>
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		<description>I gave up on macroeconomics when I was taught that the government can improve an economy by taxing people and then spending the money. This idea came from the concept that saving is bad, but spending is good, so forcing people spend their savings was therefore good. It took me a while to figure out where they had gone wrong, and realized that there were two basic problems with these assumptions: &lt;br&gt;1. There was no real concept of waste. If everyone was making and buying mud pies, then the economy was thriving!&lt;br&gt;2. It was assumed that investment was made when profits were high, so increasing profits increased investment. But anyone who has started or expanded a small business knows that it&#039;s usually done from borrowing, which requires others to be saving.&lt;br&gt;&lt;br&gt;Macroeconomics seems solidly planted in its &quot;philosophical&quot; stage, where it&#039;s trying to figure out how things work by looking at the past. But since it really can&#039;t make isolated experiments, it&#039;s not a science, at least, not yet.&lt;br&gt;&lt;br&gt;For instance, I&#039;ve heard from many sources, that Keynesian economics (a &quot;stimulus plan&quot;) has consistently failed everywhere that it&#039;s been tried. Part of the reason that I&#039;ve come to loath both current political parties, is that they keep building on, expanding, and reusing, failures of the past.</description>
		<content:encoded><![CDATA[<p>I gave up on macroeconomics when I was taught that the government can improve an economy by taxing people and then spending the money. This idea came from the concept that saving is bad, but spending is good, so forcing people spend their savings was therefore good. It took me a while to figure out where they had gone wrong, and realized that there were two basic problems with these assumptions: <br />1. There was no real concept of waste. If everyone was making and buying mud pies, then the economy was thriving!<br />2. It was assumed that investment was made when profits were high, so increasing profits increased investment. But anyone who has started or expanded a small business knows that it&#39;s usually done from borrowing, which requires others to be saving.</p>
<p>Macroeconomics seems solidly planted in its &#8220;philosophical&#8221; stage, where it&#39;s trying to figure out how things work by looking at the past. But since it really can&#39;t make isolated experiments, it&#39;s not a science, at least, not yet.</p>
<p>For instance, I&#39;ve heard from many sources, that Keynesian economics (a &#8220;stimulus plan&#8221;) has consistently failed everywhere that it&#39;s been tried. Part of the reason that I&#39;ve come to loath both current political parties, is that they keep building on, expanding, and reusing, failures of the past.</p>
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		<title>By: Tweets that mention An Economist Speaks &#124; The Moderate Voice -- Topsy.com</title>
		<link>http://themoderatevoice.com/46755/an-economist-speaks/comment-page-1/#comment-215607</link>
		<dc:creator>Tweets that mention An Economist Speaks &#124; The Moderate Voice -- Topsy.com</dc:creator>
		<pubDate>Fri, 18 Sep 2009 21:24:43 +0000</pubDate>
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		<description>[...] This post was mentioned on Twitter by James A. Soukup. James A. Soukup said: An Economist Speaks - The Moderate Voice: An Economist SpeaksThe Moderate VoiceA lawyer, a doctor, most other pr.. http://bit.ly/1KJbUo [...]</description>
		<content:encoded><![CDATA[<p>[...] This post was mentioned on Twitter by James A. Soukup. James A. Soukup said: An Economist Speaks &#8211; The Moderate Voice: An Economist SpeaksThe Moderate VoiceA lawyer, a doctor, most other pr.. <a href="http://bit.ly/1KJbUo" rel="nofollow">http://bit.ly/1KJbUo</a> [...]</p>
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