A funny thing happened at the White House

[joninliverton]

You may or may not be aware that currently America is hosting the G8 summit. Yesterday evening President Obama hosted the europeans and other G8 leaders and they watched the European Champions League soccer final between English club Chelsea (from London) and Bayern Munich (Germany). Chelsea won on a penalty shoot out and a member of the press got a brilliant photo of our PM David Cameron cheering as the final whistle blew. At his side was your president all smiles and to his left was Angela Merkel look all stone faced and depressed (which is nothing new). I laughed my socks off.

 

[tampa24]

LOL Cute story Jon.

Stone faced and depressed is likely how she will look for the foreseeable future. She is under enormous pressure from all sides. She is being vilified for standing on the side of austerity when the alternative is more deficit spending for already cash-strapped European governments.

 

[cumrag27]

Beware: Sometimes we get what we ask for!

You may or may not be aware that currently America is hosting the G8 summit. Yesterday evening President Obama hosted the europeans and other G8 leaders and they watched the European Champions League soccer final between English club Chelsea (from London) and Bayern Munich (Germany). Chelsea won on a penalty shoot out and a member of the press got a brilliant photo of our PM David Cameron cheering as the final whistle blew. At his side was your president all smiles and to his left was Angela Merkel look all stone faced and depressed (which is nothing new). I laughed my socks off.

LOL Cute story Jon.

Stone faced and depressed is likely how she will look for the foreseeable future. She is under enormous pressure from all sides. She is being vilified for standing on the side of austerity when the alternative is more deficit spending for already cash-strapped European governments.

Well Fellas,

Wouldn't you know with her bubbly and upbeat personality, our dear Angela Merkel has had a time being the dominatrix for the G8. The German publication "Stern Magazine" said it best by their nameplate alone, no article required. All my German relatives dreaded her as the inevitable "party pooper" with her austere and gloomy ways.

I pray we don't make the same mistake here in the Good Old USA, come this November

• 
  asking for nothing more than a glass half-empty (Translation: Hopeless and resigned to our nation's decline without a viable Middle Class remaining)

• when we could have opted for a glass half-full instead. (Translation: Hopeful and determined to preserve our Middle Class, returning it to its proper place again to share in the American Dream for all)!

BEWARE: SOMETIMES WE GET WHAT WE ASK FOR! WHICH "VISION" ARE YOU ASKING FOR?


Sincerely behind Obama all-the-way,


Stimpy

 

[joninliverton]

Although I joked earlier on about the soccer game and miserable merkel; Germany has actually done a fantastic job since 1989 reunifying the former East and West. It's taken billions but as always, they seem in a much stronger position than most European countries. Britain and Germany have their own austerity (is that the word of the 10s) measures and tough as they may be, as Tampa said, they are the only way out of this financial mess.

 

[Blue011]

Read Paul Krugman's End This Depression Now

Nobel Laureate, Paul Krugman, has had his new book, END THIS DEPRESSION NOW, which explodes most of the Austerity myths which some here seem to subscribe to, published.

We are in the Lesser Depression. Keynes identified the method policy makers can use to get us out of this depression 60+ years ago. The key is that what is important is demand and growth and not measures which curtail demand and make the pain being suffered by the poorer of our citizens significantly worse.

Austerity during a time of depression will make this economic disaster worse.

Amazingly, this is exactly what the advocates of austerity want to do.

Drawing on the lessons of the Great Depression and Japan's growthless 90s ought to remind us of this. Obviously, some do not want to remember or prefer to follow their personal bias and not sound economic theory and history.

 

[cumrag27]

Great Point!

Nobel Laureate, Paul Krugman, has had his new book, END THIS DEPRESSION NOW, which explodes most of the Austerity myths which some here seem to subscribe to, published.

We are in the Lesser Depression. Keynes identified the method policy makers can use to get us out of this depression 60+ years ago. The key is that what is important is demand and growth and not measures which curtail demand and make the pain being suffered by the poorer of our citizens significantly worse.

Austerity during a time of depression will make this economic disaster worse.

Amazingly, this is exactly what the advocates of austerity want to do.

Drawing on the lessons of the Great Depression and Japan's growthless 90s ought to remind us of this. Obviously, some do not want to remember or prefer to follow their personal bias and not sound economic theory and history.

Dear Blue011,

Thank you! I agree with this point of view entirely. While I don't wish ill to those conservatives that only know one strategy for dealing with a weak economy, "retreat and bury your head in the sand" and I am perfectly willing to allow them the benefit of the doubt. Obviously, without spending within our economy, domestic production will naturally decline putting even more people out of work in the process. It seems as if some of the jobs sent abroad are slowly working their way back to our shores. Domestic production will give our economy the boost it finally needs.

Rather than focusing just on the top corporate executives with their marginal contributions overall, it is America's excellent "WORLDCLASS WORKFORCE" that is OUR NATIONAL STRENGTH AND SALVATION and they deserve much better in regards to affordable health care, job security, pension options, and educational possibilities. If truth be known, IT IS OUR WORKFORCE THAT DRIVES OUR ECONOMY, not top management with their mega million $alary packages as they would have you beileve!

In the first place, America's uppermost Corporate Management should just be happy they have a job at all! Historically speaking, American corporate structure has been grossly overpaying their top leaders, unlike Germany whose top executive salaries pale in comparison. It seems we try to make each executive into some pseudo "movie star" based on "Hollywood-style compensation packages" and we as investors are being taken to the cleaners as a consequence.

I never cease to be amazed that so many people can't get past those who unfairly are receiving welfare and yet corporate welfare for their highly privileged class, you barely hear a whimper about. Can you tell me how any CEO can possibly be worth into the 100's of millions in $alary plus a generous benefits package, a car, a plane or more and all of this not being contingent on corporate profitability, while our rank&file factory workers barely make minimum wage and that is only provided by the company being profitable? Where is the fairness in this? Is this the America home of the "American Dream" or has that been outsourced too?

Getting back to the national economy, this is precisely the worst time to be pinching pennies like some miser. We need as a nation to be investing in our infrastructure and the resulting jobs so that we are better equipped in the future when the economy gets better! Didn't we learned this lesson in the Great Depression? If everything had to operate on a strictly balanced budget basis, we would never have been able to have fought in either WWI or WWII, for instance. It is precisely the fact that the federal government can amass a monumental amount of buying power to get us past the major obstacles appearing in the road!


Sincerely,


Stimpy

 

[mikeyank]

I never cease to be amazed that so many people can't get past those who unfairly are receiving welfare and yet corporate welfare for their highly privileged class, you barely hear a whimper about. Can you tell me how any CEO can possibly be worth into the 100's of millions in $alary plus a generous benefits package, a car, a plane or more and all of this not being contingent on corporate profitability, while our rank&file factory workers barely make minimum wage and that is only provided by the company being profitable? Where is the fairness in this? Is this the America home of the "American Dream" or has that been outsourced too?

I so agree with that statement Stimpy. I don't understand how middle class, and poor people can support Republican conservatives who want to give nothing to the average working man, yet support big business.

I guess it is all excellent public relations on the part of the Tea Party types, to be able to fool people into supporting a regime that has no use for them.

In regard to the future of this country, I'm glad that I am not a young person looking to carve out a future in today's state of affairs.

 

[cumrag27]

A Short Reply:

I so agree with that statement Stimpy. I don't understand how middle class, and poor people can support Republican conservatives who want to give nothing to the average working man, yet support big business.

I guess it is all excellent public relations on the part of the Tea Party types, to be able to fool people into supporting a regime that has no use for them.

In regard to the future of this country, I'm glad that I am not a young person looking to carve out a future in today's state of affairs.

Dearest Mikeyank,

Here is something totally new from me. A Short Reply:

You and Me Both!


Unpredictably predictable,


Stimpy

 

[another1]

we have a girl who is 18 years old and i fear she will not live in the america i grew up in.
putting your head in the sand and waiting for things to improve is no run a house much less a nation-state.

 

[another1]

the consumer (the people) are the only real job creators. people demand goods and services, businesses hire people to meet those demands, governments provide defense, safety, security and stability. as part of protecting the stability of the nation, the government encourage growth in slow economic time or things would stop altogether.
building and repairing bridges and highways and things like that by the government puts people to work. working people recognize needs and demand goods and services. the consumer creates jobs. the need for consumers creates jobs.
i'm being pulled away from the computer. i am being told to stop ranting online and get down to city hall and tell them to get to work on fixing our infrastructure. to tell them they are not being paid to stand around looking confused.

 

[tampa24]

Well said Stimpy and all!

 

[joninliverton]

Remind me what this thread was about lol

 

[tampa24]

Wasn't it about Keynesian economics? haha

 

[another1]

for centuries leaders of germany have wanted a germany to be over all, in europe.
a caption above a picture of the uk prime minister, us president and chancellor of germany might read, 'and the punchline is now that you caught it, what're you gonna do with it?'. that's a joke.
well someone wins and someone loses.

 

[joninliverton]

for centuries leaders of germany have wanted a germany to be over all, in europe.
a caption above a picture of the uk prime minister, us president and chancellor of germany might read, 'and the punchline is now that you caught it, what're you gonna do with it?'. that's a joke.
well someone wins and someone loses.

Good call dude. The germans have always been very astute with their finances and I really think that that the rest of the world should take heed. But this doesnt mean they are going to instigate WWIII does it. Anyway they cannot because an agreement was made to curtail their armed forces, which is still in place.

 

[cumrag27]

I see no German inspired WWIII in the offing!

Good call dude. The germans have always been very astute with their finances and I really think that that the rest of the world should take heed. But this doesnt mean they are going to instigate WWIII does it. Anyway they cannot because an agreement was made to curtail their armed forces, which is still in place.

Dear joninliverton,

Isn't that one of the first things Hitler focused on breaking by stating their militia was only intended for national defense. Yet the country kept on rotating and rotating the men needed for "The Third Reich National Defense" and defied those solumn agreements signed in a railroad car following the end of WWI.

I certainly don't think of Germany as an enemy, Even though my own mother lived in German occupied France for the duration of the war. Rather, I hold no resentment and feel Germany is an essential and worthy a part of a trinity of European countries, representing our most devoted allies, namely the UK, France, and Germany. Especially for Germany, history has shown them that there is more than one way to get to be a World Power!


Good to be among friends after all,


Stimpy

 

[Blue011]

More Bad History And Economics and Vive La France

Good call dude. The germans have always been very astute with their finances and I really think that that the rest of the world should take heed. But this doesnt mean they are going to instigate WWIII does it. Anyway they cannot because an agreement was made to curtail their armed forces, which is still in place.

What Germans are you talking about? How about Chancellor Bruning and Hjalmer Schacht?

The current German economy is based upon a huge export market which helps finance all the state spending that the Germans also like. In todays world, not every nation can have exports like and the size of the Germans.

Finally, what you and it seems Tampa are completely missing is that we are currently in a world wide recession which could slip into a depression. Austerity will certainly make the current recession much worse. Recent Euro economic numbers certainly bear this out.

You sound like you might be a "gold bug" (someone who favors a return to having money backed by gold). This is truly a bad idea from the Dark Ages of Econolmics. But, certainly Bruning and Schacht would agree.

All I can say is thank god for the French and their new President.

 

[tampa24]

Finally, what you and it seems Tampa are completely missing is that we are currently in a world wide recession which could slip into a depression. Austerity will certainly make the current recession much worse. Recent Euro economic numbers certainly bear this out.

I do see your point Blue. I understand what you're saying that governments need to spend more during recessions to keep their economies from stagnating further. The problem for Europe in particular though is not just whether to borrow more money to stimulate their economies...it's also a question of where is the extra money out there in the credit markets from which to borrow? And if there is "extra" money out there to be borrowed...at what rate of interest will these various countries have to pay to get it?

 

[joninliverton]

The problem in europe is that they allowed tin pot countries with stupid currencies like Greece and a few unmentionable in fear of a mass riot within the thread. The EU countries had the attitude of the more the merrier and did not properly assess these countries. Countries like Greece and Italy have historically been riddled with corruption and should never have been allowed to join.

 

[tampa24]

Well Greece was allowed in to keep the Soviet Union out. For decades it was the easternmost country within "Free Europe". I agree with you that Italy is riddled with corruption also. I will stick up for Spain though since I have lived there. They don't have the greatest of work ethics, yet I find the unemployment rate and especially the youth unemployment rate to be heartbreaking. I guess because I see them as a very educated people with so much potential . I don't see Spain as inherently corrupt though. Not anything close to the morally bankrupt Berlusconi cult of personality.

For decades though being a member of the EU was also to be a member of NATO and vice versa. NATO is still in place to keep Americans in, the Russians out, and the Germans down. It may sound cold and undiplomatic, but it's still accurate today even after the fall of the Soviet Union.

It was almost inconceivable not to invite all EU member countries to join the euro. It sounded like a great idea at the time. The euro was part of the cherished dream of uniting a free Europe at peace with its neighbors. Of course the Brits cautiously, and now obviously wisely, chose to wait it out and keep the British pound.