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LA Times Demonstrates Liberals Cluelessness About Basic Economics

Anonymous6062 Wrote: Dec 13, 2012 4:30 PM
Breaking news in LA Times ********* Gas make car go ********** higher price gas make people have less money to spend elsewhere******* less money to spend elsewhere mean economy hiccups******* Breaking news in LA Times
upwithRomney Wrote: Dec 13, 2012 7:54 PM
Breaking news. . . .gas prices are going down. . . . .people have more to spend. . . . add to the economy. . . .create demand. . . create jobs. . . . . .just another Obama sucess.
Jay Wye Wrote: Dec 14, 2012 4:22 PM
except that you folks WERE claiming that Comrade Obama had nothing to do with gas prices.

Also,jobs are declining under Comrade Obama.
about 16% -real- unemployment,and the medical devices industry is beginning layoffs due to Obamacare's taxes.
Joseph64 Wrote: Dec 13, 2012 5:08 PM
The LA Times were always great at stating the obvious.

There are a few irrefutable laws of basic economics that are understood by practically everyone. When the price of a good rises, people will buy less of it. This is common knowledge to anyone who has bought anything ever. There is also the law of unintended consequences which states that actions, laws, and policies often have secondary effects that differ from the original actions intentions. We have seen this inevitably played out in most laws passed by Congress. Both of these ideas have been around for thousands of years and the father of economics, Adam Smith, articulated them himself...