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I have never enjoyed a debate long enough to watch more than 5 minutes before. That was actually entertaining.
He killed it
i really like that guy and his outlook. and, in fact, … on every grounds except the need to avoid a japan economic situation. On every grounds except economics…
@checklist,
his methods on economics are only harsh because we are so far down the slippery slope of debasement.
His knowledge of economics and history of economics is enormous.
Most of us had not lived or know of the “golden age” in this country.
We had an incredible run from the 1850’s until
the designed crash of 1907 and the 1929 crash after the fed got in business.
While his approach is harsh, it is medicine or surgery that we are all afraid of.
In the end we may be stronger and free of debt issues.
cronkite, I politely disagree that the country has a debt issue, and, remember, we have run government surpluses of note I believe six times in the countries history (clintons was either the sixth or the seventh) and all but hte clinton one (so far) has led to a depression, and the clinton one isn’t good.
I am on Ron Pauls side, except take issue with the majorities understanding of economics. The US national debt (by indisputable simple accounting) is equal to the entire savings of the world in dollars or equivalents (t bills), and the ability of US citizens to save in those things (which they are want to do) literally requires (again by simple factual accounting, not by theory or opinion) the governments deficit to exceed the trade deficit.
We have a debt related period of economic slowness and we CAN’T get out of it without large government deficits OR debt restructuring and a deflationary episode. The problem with the deflationary episode “taking our medicine” route is that I suspect economic activity would grow nicely once the ugly was over and stuff, but from a lower starting point, leaving the country permanently harmed.
Target inflation is the best course and “taking our medicine” right now will lead to the need for enormous spending/”debasing” when the economy gets so bad that public outcry calls for government help.
The best course of action and the fastest route to a happier debt/gdp and deficit situation is deficits now, while we need them. Fad the government deficit into higher capacity utilization and growht…