The Story of Spending

normajean777 · 10-22-2009, 03:47 AM

YouTube - The Story of Spending

This is very captivating stuff. I was led to it by a FB ad.

Bryan · 10-22-2009, 11:21 AM

obviously, this video paints any government spending as BAD. I suppose who ever made this video would think that NO government spending and laissez faire economics is the way to go. Everyman for himself. Only the strong survive. Economic and social Darwinism FTW!

jthomas1600 · 10-22-2009, 12:20 PM

Yeah, what really struck me as I watched that was how many of the spending initiatives were arguably good and or necessary -- not all of course, but many.

Bryan · 10-22-2009, 01:06 PM

Quote:

Originally Posted by jthomas1600

Yeah, what really struck me as I watched that was how many of the spending initiatives were arguably good and or necessary -- not all of course, but many.

yea, like the Interstate system for example.

nolidad · 10-22-2009, 05:44 PM

Quote:

Originally Posted by normajean777

YouTube - The Story of Spending

This is very captivating stuff. I was led to it by a FB ad.

Thanks!!! this is great.

Govt. Spending in and of itself is not bad. Many things the govt. does is very necessary and important. BUT-BUT--What is bad is the out of control Keyesian insanity that has led to out of control deficits and the dollar is serious crisis worldwide.

Govt. like every one else is not immune form serious consequences if it keeps living outside of its means. In a democratic republic- the p[eople are supposed to insure that the politicians are held accoutnable to be responsible. 70 yeares of deficit spending is not irresponsible- it is treasonous.

JerryLove · 10-22-2009, 05:47 PM

You keep talking about the devaluation of the dollar as though it's inherently bad. It makes American exports cheaper, and imports more expensive, raising the competitiveness of American intustry.

Bryan · 10-22-2009, 06:25 PM

Quote:

Originally Posted by nolidad

Thanks!!! this is great.

Govt. Spending in and of itself is not bad. Many things the govt. does is very necessary and important. BUT-BUT--What is bad is the out of control Keyesian insanity that has led to out of control deficits and the dollar is serious crisis worldwide.

Govt. like every one else is not immune form serious consequences if it keeps living outside of its means. In a democratic republic- the p[eople are supposed to insure that the politicians are held accoutnable to be responsible. 70 yeares of deficit spending is not irresponsible- it is treasonous.

your criticism here of Keyesian economics here is unfounded. It does not advocate continual deficit spending. It actually advocates a balance between deficit and surplus. The only problem is that for Keyesian economics to work requires raising taxes and we've been horrible at doing that during times of economic prosperity.

normajean777 · 10-22-2009, 08:54 PM

Quote:

Originally Posted by JerryLove

You keep talking about the devaluation of the dollar as though it's inherently bad. It makes American exports cheaper, and imports more expensive, raising the competitiveness of American intustry.

It is bad. As an Albertan, in both personal and corporate accounts, I lose money with the devaluation of the American dollar. I have American dollars, and our oil is sold in USD, so devaluation hurts me.

Chrysostom · 10-22-2009, 09:53 PM

Is this just a right-wing counterpart to "The Story of Stuff"?

Bryan · 10-22-2009, 09:59 PM

Quote:

Originally Posted by Chrysostom

Is this just a right-wing counterpart to "The Story of Stuff"?

haha. if it wasn't for the complaints against Reagan, Bush, Nixon & Ford, I'd probably think so.

JerryLove · 10-23-2009, 05:06 PM

Quote:

Originally Posted by normajean777

It is bad. As an Albertan, in both personal and corporate accounts, I lose money with the devaluation of the American dollar. I have American dollars, and our oil is sold in USD, so devaluation hurts me.

But the value of oil is generally independant from the dollar. It is set by demand (real or otherwise), and so a devaluing dollar would just make a barrell of oil worth more dollars.

But yes, a devaluing dolalr lowers the spending power of someone with a bunch of dollars.

nolidad · 10-23-2009, 05:36 PM

Quote:

yea, like the Interstate system for example.

Sad thing is , is that many of the roads are being sold off in PPP's (public private partnerships) and many of these to foreign sovereign (govt,) funds. Typical example is the I-35 corridor that is hailed as the Trans American highway. These will become toll ways with the tolls going overseas.

Quote:

It is bad. As an Albertan, in both personal and corporate accounts, I lose money with the devaluation of the American dollar. I have American dollars, and our oil is sold in USD, so devaluation hurts me.

Not it is not bad- It is very bad!! With many of our competitor nations pegging the ir currency to the dollar- it kjeeps them much cheaper. Als as the overwhelming majority of our manufacturing base is gone we cannotcompete quickly. Also devaluing a currency creates inflation/hyper- inflation.

JerryLove · 10-23-2009, 05:56 PM

Quote:

Originally Posted by nolidad

Not it is not bad- It is very bad!! With many of our competitor nations pegging the ir currency to the dollar- it kjeeps them much cheaper.

It is quite impossible for the dollar to have a fixed value relative to the currencies of competing nations while at the same time having a declining value relative to those same currencies.

A declining value of the dollar means that US goods are cheaper and foreign goods are more expensive. That's a good thing for US producers.

Quote:

Als as the overwhelming majority of our manufacturing base is gone we cannotcompete quickly. Also devaluing a currency creates inflation/hyper- inflation.

No. A hyper-devaluing currency creates hyper-inflation in products from overseas.