Obama "inexcusable and irresponsible"

Obama declared yesterday that the delay of the incoming stimulus package is "inexcusable and irresponsible." 

I couldn't agree more. The last thing we need are wavering politicians who won't just go for our best chance, currently, of getting out of the current recession. We don't want more unfavorable events occurring, further disheartening the public's faith in an economic comeback. A stimulus should not only help out consumption expenditures, and increase jobs, but also show the people that we can get through this, and give them the necessary faith to help bring our economy back to its full employment output. 

And for Libertarians this article, written by a Harvard prof, takes the Libertarian view as to how the stimulus should be. 

Some good thoughts, even in my opinion. I definitely agree with some things (certain tax cuts, fewer government expenditures than originally planned, cut benefits) but some others not so much. 

The Incoming Stimulus... Just Do It

Again, I want to voice my thoughts on the stimulus again since it seems that Republicans are still not satisfied with the current package... some have wanted more money and others less...

I'm with Obama and Geithner... pass the damn bill. 

I believe that the worst action in this case is inaction, and that is our current course of action. The clock still ticks yet our elected officials won't just pass the bill, and make a full-fledged effort to alleviate the current recession. 

Zimbabwean Hyperinflation

This link is to a CNN article announcing Zimbabwe's latest move to combat hyperinflation, which is to slash zeros off of it's currency's value, 12 to be exact. 

I liked this article very much, because it reminded me of how my own econ professor explained the situation to us, by showing an unusually large rightward shift in the money supply on a supply/demand graph for money. His ensuing explanation, "Mugabe does this every Thursday" along with his tone made me crackle, seeing as such a move is utterly absurd, and reduces interest rates to levels that will undoubtedly cause such absurd amounts of inflation. 

I pulled this off of Gregory Mankiw's Blog, a Harvard Economist, whose blog I read religiously, and I recommend you all do as well, in addition to your daily dosage of B.S. Free Economics. 

Geithner: A Speedy Recovery is Needed

As I was reading the WSJ, I saw an article on what incoming Treasury Secretary Timothy Geithner plans on doing. The title of the article itself pointed to his belief that a speedy recovery is necessary in order to recover from the current recession. 

If you look at my previous post, I pointed to this as well... 

Will *insert expletive" Congress Finally Pass The Stimulus?!?!

As a true believer in Keynesian Economics, I find it quite perplexing that this stimulus package has yet to be passed into law. It seems quite clear to me that such a package that is the precise medicine needed to treat the ailment at hand in the American Economy. Infrastructure overhauls, and tax breaks are exactly what the country needs in order to shift Aggregate Demand to the right in order to get experience economic growth, at least in the short term. Hell, any AP Macroeconomics student knows that, yet it seems that our exceedingly asinine and pygmy-minded bureaucrats can't seem to understand, therefore they believe that such a stimulus package is wasteful, a description that doesn't have any truth to it. 

Conversely, I do fully comprehend that Keynesian theories don't always work, but at this point I'm more or less willing to see our government try something as opposed to nothing. Specifically, I remember quite well reading an article about the many failed stimulus packages utilized in Japan during the 90's as their attempt to pull themselves out of a recession, yet didn't do much more than create a large national debt, and make extremely nice roads. Clearly our monetary policy isn't doing enough to encourage more domestic investment, to the chagrin of monetarists, thus we aren't making any progress in terms of trying to achieve economic growth. 

In conclusion, while we already have an exceptionally large national debt, we must practice deficit spending until our country can recover from the current economic crisis. 

The Bailout Game

I found out about this game courtesy of my economics professor...

Alright I'm For Real this Time

Due to much protest, and a tad of regret for ending my blogging, I have decided to commence my blog posts again. I hope those of you who have been reading my blog are elated by such news, and that you will read my posts as I churn them out.

Thank you.