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kayjatta
2978 Posts |
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kayjatta
2978 Posts |
 Posted - 12 Jan 2009 : 11:16:43
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| Larry Flint's argument is that his business will help all of us get through the depression (recession). I do not know if that makes sense but hey you can't argue with this powerful industry, can you? |
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ylowe
USA
217 Posts |
Posted - 12 Jan 2009 : 11:32:32
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Kayjatta, They already set a precedence and everybody is going to be asking for one. When they started bailing out the airlines i knew it
was wasn't going to stop there. Is there a correlation or causation between good sex and productivity? I personally think that the recession is going to get worst and last very long. We should be ready for what happened in Japan in the 90's. Any comments |
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kayjatta
2978 Posts |
Posted - 12 Jan 2009 : 11:49:42
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| I share Paul Krugman's (Princeton's Nobel prize winning economist) view that we can still avert the Japanese type recession by a massive and adequate Keynesian-style intervention... |
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toubab1020
12314 Posts |
Posted - 12 Jan 2009 : 12:30:51
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| Come on now people let's not bury our heads in the sand the only certain thing about world recession is that NO ONE has any idea how to fix it. Common sense dictates that printing more money cannot work.If you havn't got it then you cannot use it. |
"Simple is good" & I strongly dislike politics. You cannot defend the indefensible.
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mansasulu
997 Posts |
Posted - 13 Jan 2009 : 15:58:56
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Kay, I bet J. M. Keynes is twisting and turning in his grave. There is a saying that you cant cover $hit with sugar. This is precisely Krugman[Keynes] is trying to advocate by calling for a massive intervention in an already broke economic colussus. The truth is neither Krugman nor any other economist know what they are talking about as far as their prescriptions go. It is fairly basic to know that the moment you start spending more than you can raise you at the mercy of fiscal tsunami. This is the beginning of the end for Capitalism.
Its about time they stop claiming that the whole world is in a recession. Africa for example contribute 1% of world trade. How can we be that affected by the diabolical economic practices of the west. Aren't we living in abject poverty afterall. Tax and spend never worked, raising interest rates adds to the problem because it just makes poor people poorer by taking more money out their hands. |
"...Verily, in the remembrance of Allâh do hearts find rest..." Sura Al-Rad (Chapter 13, Verse 28)
...Gambian by birth, Muslim by the grace of Allah... |
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toubab1020
12314 Posts |
Posted - 13 Jan 2009 : 17:26:48
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| I agree with most of what you say but what is the alternative to Capitalism ?.........Communism ?..........someone somewhere tried that, that didnt work, Africa is part of the world economy and as such relies heavily on Tourism instead of exports as the west does.....So, No tourists travelling from abroad.........a lack of money........result recession, not so? |
"Simple is good" & I strongly dislike politics. You cannot defend the indefensible.
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mansasulu
997 Posts |
Posted - 13 Jan 2009 : 18:02:02
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| Toubab how are we part of the world ecomony if our contribution is 1%? How about we try and economic system whose foundations are not based on exorbitant interest rates, greed, and oversending. We should not be relying on tourism, instead we should be trading among ourselves. |
"...Verily, in the remembrance of Allâh do hearts find rest..." Sura Al-Rad (Chapter 13, Verse 28)
...Gambian by birth, Muslim by the grace of Allah... |
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toubab1020
12314 Posts |
Posted - 13 Jan 2009 : 19:15:15
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Yes thats a good idea,what would you expect for a ton of groundnuts for instance,?10 bags of flour? or perhaps 1/2 ton of dates, or 200 litres of petrol? the idea is excellent I know but practically its a bit of a non starter,money breeds greed yes, interest rates are exorbitant,overspending comes with politics and corruption everywhere.
If I could think of a way to make everyone happy I would do it without charge,the world is in a mess no doubt about that.
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"Simple is good" & I strongly dislike politics. You cannot defend the indefensible.
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kayjatta
2978 Posts |
Posted - 14 Jan 2009 : 07:43:58
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quote:
Originally posted by mansasulu
Kay, I bet J. M. Keynes is twisting and turning in his grave. There is a saying that you cant cover $hit with sugar. This is precisely Krugman[Keynes] is trying to advocate by calling for a massive intervention in an already broke economic colussus. The truth is neither Krugman nor any other economist know what they are talking about as far as their prescriptions go. It is fairly basic to know that the moment you start spending more than you can raise you at the mercy of fiscal tsunami. This is the beginning of the end for Capitalism.
Its about time they stop claiming that the whole world is in a recession. Africa for example contribute 1% of world trade. How can we be that affected by the diabolical economic practices of the west. Aren't we living in abject poverty afterall. Tax and spend never worked, raising interest rates adds to the problem because it just makes poor people poorer by taking more money out their hands.
Good post Mansasulu, I appreciate it. The keynesian approach Krugman is advocating and the one that the Obama administration is poised to adopt makes a lot of sense in this tough economy. Here is how it works, hopefully: When the economy is bad, people are out of work, lost their homes, and are hungry; the government has two broad choices. One is to let people suffer and die while the market slowly corrects itself (it definitely will, it just takes time) and two is to rescue the economy by pumping money into the system and create jobs, keep people in their homes, and push the economy into motion again. The money pumped into the economy to revitalize it (as investment)will obviously increase the deficit, but borrowing today to create a better tomorrow by investing makes sense. Once the economy is ressucitated and vibrant again, we will have an opportunity to reduce the debt and create a surplus again. John Maynard Keynes himself once said that "in the long run we are all dead". This means that "pressing problems like recessions in this case need immediate solutions", we cannot afford to defer action/intervention.
Okay, I understand you might call this "the beginning of the end of capitalism", but we do not actually have capitalism any more. What we have is a mixed economy,( unlike Europe who are full fledge socialists  ) and depending on what political party is in power or what economic cycle we are in, our economic policy swings back and forth within that capitalism/socialism continuum.
Thanks. |
Edited by - kayjatta on 14 Jan 2009 07:48:57 |
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mansasulu
997 Posts |
Posted - 14 Jan 2009 : 15:46:29
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A mixed economy...? Now that there will vindicate China's economic practices since most economist claim the Chinese economy is a semblance of capitalism and communism. Any how, lets say Keynes may be right in theory that massive stimulation of the economy will revitalize the economy by creating jobs etc. However Congress has gone errant and addicted to spending tax payer money for the own personal gain. In West Virginia, they call Sen. Robert Byrd BIG DADDY for a reason (he always delivers pork). This may work for a few years as far as jobs go but once Congress starts spending there is no stopping as the recent history of the United States Congress shows. The current congress is oblivious to the future. The stimulus plan that the Bush successfully supported and gained passage for and the one Obama is suggesting is akin to collecting free lunch today and passing the bill to the next generation.
It may seem that I am rambling here, but I do not believe the current congress and political establishment cares about who carries the burden of paying these humongous debts knwoing fully well that according to demographic patterns children of immigrants mostly from latin and central america are gonna be making the bulk of the work force.
I believe that at a minimun and the bare minimum is to let the market/economy to correct itself. Give people food and shelter while the markets slowly corrects itself. After all, isn't 53% of the federal budget consumed by entitlements (medicare, medicaid etc). |
"...Verily, in the remembrance of Allâh do hearts find rest..." Sura Al-Rad (Chapter 13, Verse 28)
...Gambian by birth, Muslim by the grace of Allah... |
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jammin
Jamaica
149 Posts |
Posted - 05 Mar 2009 : 22:59:55
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quote:
Originally posted by mansasulu
Toubab how are we part of the world ecomony if our contribution is 1%? How about we try and economic system whose foundations are not based on exorbitant interest rates, greed, and oversending. We should not be relying on tourism, instead we should be trading among ourselves.
Mr. Mansasulu, you may not want to believe, but even though Africa may contribute 1% to Global Trade(your figure), a recession of the kind being experience can only have deleterious effect on African economies.
1.Diasporian Africans contribute by remitting to the country of their origin, recession cause unemployment, unemployment = no remittance.
2.Imports require foreign exchange, remember Imports mean raw material for Manufacturing and Agricultural sector. It also mean food, pharmaceutical, technology and Technical Consultancy Import.
3.Foreign exchange is derived from export(primarily), but demand for export has declined(outside recession), thus giving less money to Import, therefore manufacturing cant manufacture, agriculture cant produce, and food security become at risk. Also INFLATION will occur, since shortages will be created, and the demand and supply dynamics kick in.
So you see, Africa cannot be immune, globalization has caused everyone to be inextricably linked. |
Like a colossus He doth bestride the Narrow World |
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kaanibaa
United Kingdom
1169 Posts |
Posted - 05 Mar 2009 : 23:26:25
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| Can any one tell me what happened to the guy, who prophesied that the Western economy won't go burst. It has and now waits to be resuscitated as can be evidenced by all these bail out plans. The poor were poor even before this happened, they shall not be experiencing any thing new and they are living that reality every day.Those who have not though shall be agonizing about lowering of standards and loss of perks , which are only in the dreams of the poor, downtrodden of this world. Now that things are so bad , perhaps lessons will be learned that those who are less fortunate too deserve getting some good things in life, so that henceforth people take on board those factors as we go on with our daily lives.No situation is permanent as far as humanity is concerned, things can always change around where a reversal of roles can occur on the stage of this reality show; I mean in our stations in life.A helping hand once in a while is what I am advocating for, as no one knows when you will be needing one too. |
Edited by - kaanibaa on 05 Mar 2009 23:29:20 |
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