WC Varones

Don't lend your hand to raise no flag atop no ship of fools

It's All Black Baptists Fault!

I'm so sorry, I got that completely wrong. According to Hale Stewart our economic woes are all White Anglo-Saxon Protestants fault. See:
The president sends a proposal to the Republicans and then offers the "pre-compromised" version before negotiations get out of the gate. He has yet to figure out that he is hated -- as in really hated -- because of what he symbolizes: the end of the WASP power structure as we know it.

Aside from religious stereotyping that is completely unacceptable unless it's targeted at people we don't like, apparently, he also provides a sixth grader's view of how to fix the economy. Of course when I write sixth grader I mean Keynesian. So how do we fix the economy?
1.) Borrow money. Despite the incredibly stupid complaints of people about federal spending, the bond market isn't worried about the US' fiscal situation right now. The 10-year bond is trading right around 2%.
2.) Rebuild the nation's infrastructure: According to the society of civil engineers, the US' infrastructure gets a grade of D-. I recently noted a story from AgWeb that also illustrates the problem.

3.) Hire people to do the work. Considering that half the un\employed are blue collar workers (people that do things like ... construction) this would lower unemployment -- which also happens to be a big problem right now.

4.) This increases aggregate demand, which increases GDP. Once you get GDP growing at 3%+ for a few quarters, the economy because self-sustaining. This also helps to halt the debt/GDP growth rate.

STIMULUS! OF COURSE! Why haven't we tried that yet? Oh, what, we did, and it totally doesn't work, and it actually got our debt rating downgraded because we can never pay our current debts let alone add on for more stimulus that won't work. We've already tried this and it failed? I would say the "incredibly stupid" thing is to argue for something that continually fails.

Business Insider provides the good with the bad. It's sort of like the People Magazine of the blogo-sphere while Zerohedge is the Economist. Hey I like it but there are a bunch of dolts working there.

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