In response to:

Obamanomics Has Failed Dismally

just_another_handle Wrote: Sep 15, 2012 1:55 AM
Back in the late 80' & early 90's I was selling real estate in a dismal market. I came to appreciate that there had to be a first time buyer in the game in order for the rest of the market to move up. In todays economy, there has to be a sufficient amount of workers getting decent paychecks for substanitive work that benefits everyone around them in order for the economy to rebound. The problem is that there is too little work for far too many people. The economy we left behind was based on a false premise. That being that with easy credit everyone would benefit from everybody spending 10 to 20% more than they were making. That kind of economy is not coming back no matter how much money they print.
RJBJr Wrote: Sep 15, 2012 7:35 AM
Exactly, handle! What I don't understand is why get bankers involved at all. With $40B/month, we could create 8 million jobs paying $60,000/year! We could put 8M to work in manufacturing creating new wealth. We have factories and machinery sitting idle, and unemployed with all the skills needed. With a zero payroll we could produce goods cheaper than China, remove 8 M from the unemployment and food stamp budget, and regrow the middle class.
Frank391 Wrote: Sep 15, 2012 7:41 AM
What would be the point if you don't have people interested in buying your product? And the only way to do that is to first take the money from the few productive folks out here. Your Keynesian model has proven itself unsuccessful.
RJBJr Wrote: Sep 15, 2012 8:26 AM
Not sure you get the point, Frank. Bernanke's has already decided to print the money. I'm suggesting a more productive way of using it. And, People are already buying the products, the ones at Wal Mart that say "made in China". With my system, we can replace those products with ones "made in America" - at a 20% discount!
Lance852 Wrote: Sep 15, 2012 8:55 AM
Not sure of your point RJBJr, other than protectionism, which never works and creates higher prices. You seem to believe that some mysterious source is going to print money, then all these companies will hire people at some high wage and build new factories here (with the requisite pushy this Administration to unionize) just to buy American. That you think that will make products cheaper and our economy better, suggests you may need to take some economics and business classes.

About 30 years ago, Paul Volcker launched a monumental monetary effort to bring down inflation. As Fed chairman, he sold bonds, removed cash from the economy and cared not one wit about rising interest rates. And it worked. Gold plunged, King Dollar soared, and the drop-off in bank reserves and money extinguished high inflation -- and actually launched a multi-decade period of very low inflation.

This week, current Fed chairman Ben Bernanke embarked on an absolute reversal of Volcker's policy. He is launching a monumental effort to buy bonds and inject new money into the economy in order to reignite economic...