Moody's: Obama jobs plan will create 1.9 million jobs

Yes, and Obama's projections and estimates are so bad he should stick to playing golf or exploring Martha's Vineyard.

If nothing else Obama has proven that he's not qualified to run the largest economy in the world.

 

Borrow money from who? Itself?

The only problem with this logic is that government is borrowing money from itself. How can you make money by borrowing money from yourself?

What you're talking about is just more debt monetization, which will just result in more inflation and asset bubbles.

 

Yes, no doubt his stellar work in international trade theory makes him the perfect person to chart our domestic economic course. His earlier recommendation to create a housing bubble worked out really well...

 

Ray, this is not "the Bridge Building Act".

Obama called it "The American Jobs Act".

This is about make-work Ray. It is truly a very simple concept.

 

it wasn't anything except a campaign speech meant mostly to masturbate the public service unions. He knows bit and pieces may pass but the entirety will never see the light of day

 

Obamacare isn't a "failure" so much as it an albatross around the neck of the economy. The mere possibility of its implementation is enough to create massive uncertainty for businesspersons and investors. How can they plan for the future when a giant government power-grab looms over the horizon? They can't!

This "consensus" is nothing more than a bunch of self-serving institutional propaganda with no basis in science or empiricism. It's all based upon a bunch of crackpot models and assumptions about voodoo spending multipliers.

The stimulus worked? Really? Show us the proof that it worked; not the rosy assumptions of institutional hacks and shills who use nonscientific models to justify their own parasitic existences in government and academia.

The whole position of stimulus boosters is intellectually shallow because it is intellectually unassailable.

They tell us that we NEED to pass the stimulus or the economy will go into a deep depression/delfationary spiral, and when the stimulus fails to bridge the gap between recession and recovery, it's because the stimulus wasn't big enough, but if we hadn't passed the initial stimulus, things would be much worse than they are now. Either way, they win! How does one address this perverted logic? The fact that their position cannot be falsified should, in the mind of any scientist, immediately set off alarms...

 

We have a great number of folks whining and crying 50% of americans pay no taxes. There are a great many of that 50% who are unemployed and collecting unemployment checks or maybe even welfare.

You whine and cry for the lazy bastards to get a job and quit sucking the gov't teats.
Now we may have a program that will put to work between 1M and 1.9M people, fixing bridges, roads and other infrastructure that is crumbling and all the nutheads complain it costs to much.

Which way do you want it:
1) sitting home collecting free money being a drain on society
1) working at fixing infrastructure, making more money than welfare, paying taxes, and consuming.

Hmmmm.

 

Good luck getting them now. Nobody in the employ of Big Fed is answering the phone after lunch on any Friday.

 

the rights argument seems to be that laying off people and NOT building or repairing roads and bridges....will somehow create jobs....

lol im really looking forward to hearing them try to make that argument.

 

And when that money floods the economy and sends the inflation rate through the roof, then what?

 

lol so you want proof it worked, yet there is no proof that you will accept.

you dont think youre setting the burden of proof a little high?

 

This would have happened regardless, and probably a lot faster if the government had simply gotten out of the way and allowed prices to stabilize and malinvestment to liquidate.

The market SELF-corrects. It always has and always will. It doesn't any help to repair itself. In fact, this "help" only serves to delay the correction.

 

If Obama is selling it as 1.9 million and its only 1 million, certainly the price tag should be adjusted, wouldn't you think? This is a money grab and he's cooking the books in order to grab all he can.

 

I think his plan has some very good points , I think it should broken up immediately and the stuff they agree on should be passed ASAP , then let the compromising begin

 

I never said there is no proof I'm willing to accept. I'd be more than happy to accept a valid scientific analysis of the spending and its impact on the economy. The only problem is that no such scientific analysis exists. It's all a bunch of speculation and guesswork at this point.

 

Mac dont you see................''NOW HE HAS FIGURED IT OUT'' LOL,,,,,of course it being close to elections has nothing to do with it,,,he just needed some off time before,,,like about ....TWO YEARS!!!

These people kill me...

By the way,,Mark Zandi is a registered Democrat, and approved of the first stimulus [we all know how that went]...He has helped some Repubs as well, but he is still a Democrat....

 

so youre asking for evidence you know doesnt exist.

and thats not a bar too high? are there any credible economists who say it didnt create jobs?

 

It doesnt' matter. The amount spent to create the job is X amount, no matter what the material costs are etc.

I am all for keeping our roads working and bridges repaired. However, we should be using money from gas taxes, tolls etc. for that. not barrowing more from China, and putting us deeper into the hole.

Its pointless. It didn't work in the stimulus, it won't work now.

 

What it shows is that these "top economists" are pretty much clueless when it comes to the economy. They've been living and working inside of an academic and government bubble their whole life, being indoctrinated with models and hypotheses and speculative guesswork as if it were the gospel truth. The truth of the matter is that they are not using science but ideology as the basis for their projections. Oh, sure, they have some intellectual assumptions and perhaps some suggestive correlations in past and present data to support their little hypotheses and models, but they don't have anything even approaching the standard of evidence used in hard sciences like physics, chemistry, biology, engineering, etc. It's voodoo economics at its finest!

 

I agree. Slice and dice this POS into bite sized turdlets. The purely craptacular stuff won't have a chance.

Harry Reid will monkey wrench this plan. He's expert at it and he knows Obama's only shot is to run against obstructionist Rs. He will insure (Ensure?) they have reason to obstruct.

 

lol yah Moodys doesnt know anything about business!!!

wait....

 

Actually we do. All this stimulus spending is directly correlated to a series of mathematical analysis on the economy. I'm sure your intense economic analysis and research would win you a Nobel Prize if you just graced the rest of the "top economists" with your vast knowledge. Funny how you are always just a bunch of words, yet never can explain through this "scientific approach" why these top economists are wrong.

 

That doesn't answer my question. 1.9M is the sales guy talking. 1M is the purchasing guy talking, knowing sales guys always inflate demand.

Anyway, my real question is - Want them home being a drain on society or working at building our infrastructure, which seems a consensus that needs to be done?

 

Ok, so the professional economists have no clue about the economy, but the armchair economists that write red meat for uneducated conservatives are totally 100% correct? You all could at least be consistent and admit that no one has much of a clue about the economy or why markets work.

 

The argument is that the economy needs to correct itself before we can recover. That is a necessary consequence of basic supply and demand. Prices and supply in many sectors were artificially high which means that in order for the economy to correct prices must deflate to their equilibrium levels, and the excess supply must liquidate and reallocate in order for the supply to attain its equilibrium level. Once this occurs, the economy will begin to recover and get on a path to sustainable growth. Is there going to be pain during this transitional period? Of course! But the pain is unavoidable. You cannot expect to avoid a hangover after a night binge drinking and you cannot expect a painless recovery after years of excessive debt and malinvestment!