From GDP to Jobs to Trade and Fear, Full Economic Recovery Could Take Years
Bridging the economic chasm could take years
Reader Comments
Why is this idiot allowed to write?
For someone so smart, how can he be so ignorant? More stimulus? More government? Please tell me when it has worked? What we need to do is bring our troops home, cut the federal government down to its constitutional size, give the citizens their money back and allow the corrections to happen so we can all get on with our lives. And U.S. News needs to fire Zuckerman immediately.
Stimulusing
Most economists and most politicians have been stimulusing us since after WW2. It has not done much for us.Creeping inflation that workers can not keep up with.Gold at almost 1000 dollars.Give the poor citizen a break and tie gold to the fiot dollar so we have some control over this foolishness.
Given the clear facts, why do Republicans fight stimulus?
Dear Mr. Zuckerman,
You present the facts concisely and clearly. As you point out, although we have backed away from the edge, we are still very close to falling into the Economic Abyss.
Just about all reputable and renowned economists--except for a few outliers--including both conservative and liberals economists (including economic thinkers as diverse as Krugman, Stiglitz, Feldstein and Bernanke), agree that we and the world needed, and still needs, massive economic stimuluis to get us out of this mess; the only disagreement is what constitutes better stimulus, and how much more stimulus we need.
So given this fact (i.e. just about all expert economists, including people like Bernanke, who is especially well regarded for his academic work about the Great Depression), how is it that Republicans all say that the stimulus is wrong?
By the same token, how is it that there is so much Republican sentiment against the idea that Global Warming is caused by Man (when just about all reputable climate scientists in the world--except a few outliers--agree that Man is causing Global Warming and there will be disasterous consequences for the world if we don't address this issue?
And why are most of the people who don't accept the theory of Evolution Republicans?
Have Republicans become the party of low intelligent people?
Mr. Zuckerman, I respect your ideas. Would you write a column about this?
I ask you this as a regretful former Republican?
You're kidding me
How could someone be so smart and completely miss what's happening? He might be as clueless as Paul Krugman.
SHOVEL READY AS IN DOG PILE STIMULUS
You would do well to actually look at what the local population thinks of the so-called 'Shovel Ready' projects of which you speak. Most of these 'projects' could be classified as nothing more than busy work as in "make like your working, the boss just walked in"...a full list of the stimulus projects in your area and the thumbs up or thumbs down vote for that specific project can be found online at www-stimuluswatch-org
In our locality in Marietta, GA you will find clear examples of jobs that add NOTHING to the economy...absolutely nothing. On top of this you need to factor in the effect that the Cap-n-Trade legislation will have on American manufacturing. Everything you touch from the bread, eggs and milk on your table to the drywall, flooring and replacement windows in your house will COST MORE because of Cap-N-Trade taxation on the energy that is used to manufacture these products. This means that various products manufactured in CHINA, that may not have been competitive with their American counterparts in the past will now have the competitive advantage. Drywall manufacturing is a perfect example. Drywall or sheet rock manufacturers in the U.S. utilize enormous quantities of natural gas and energy to produce the drywall that goes into new home construction. The Chinese drywall manufacturers will be able to crush their American counterparts who will be unable to compete with the lower cost Chinese product. This example will be repeated over and over again in industries that you cannot begin to imagine. This will accelerate the unemployment rate, the Commercial and Industrial failure rate and the bank failure rate by a factor that no one can calculate. The Cap-N-Trade legislation is the straw that will break the back of American industry and the American economy. If I was the owner of a Chinese business I would be celebrating and fully supporting the Cap-N-Trade bill because I know that my American counterparts will not survive the taxation and regulatory burdens that will inevitably increase the cost of operating a manufacturing business in the U.S.A
The end of the American industrial complex is at hand with the Cap-N-Trade bill. This is and always has been the objective of the enemies of America. Nothing other than a massive reduction in government payroll and regulations will save American industry at this point. The 75,000 page CFR is a perfect example of the mountain of regulations that handcuff and suffocate American industry and entrepreneurialism. Who is going to start up a manufacturing company in America with the knowledge that Uncle Same will be standing there at every single point of the process with his virtual hand in your pocket taxing every aspect of your business and telling you how to operate your business from the employees you hire to the light bulbs you use in the office and then tax you on everything you do as you add value to the raw materials you purchase. The sign on the door now reads CLOSED FOR BUSINESS.
The LOCAL vote on so-called Shovel Ready Projects
You would do well to actually look at what the local population thinks of the so-called 'Shovel Ready' projects of which you speak. Most of these 'projects' could be classified as nothing more than busy work as in "make like your working, the boss just walked in"...a full list of the stimulus projects in your area and the thumbs up or thumbs down vote for that specific project can be found online at www.stimuluswatch.org
In our locality in Marietta, GA you will find clear examples of jobs that add NOTHING to the economy...absolutely nothing. On top of this you need to factor in the effect that the Cap-n-Trade legislation will have on American manufacturing. Everything you touch from the bread, eggs and milk on your table to the drywall, flooring and replacement windows in your house will COST MORE because of Cap-N-Trade taxation on the energy that is used to manufacture these products. This means that various products manufactured in CHINA, that may not have been competitive with their American counterparts in the past will now have the competitive advantage. Drywall manufacturing is a perfect example. Drywall or sheet rock manufacturers in the U.S. utilize enormous quantities of natural gas and energy to produce the drywall that goes into new home construction. The Chinese drywall manufacturers will be able to crush their American counterparts who will be unable to compete with the lower cost Chinese product. This example will be repeated over and over again in industries that you cannot begin to imagine. This will accelerate the unemployment rate, the Commercial and Industrial failure rate and the bank failure rate by a factor that no one can calculate. The Cap-N-Trade legislation is the straw that will break the back of American industry and the American economy. If I was the owner of a Chinese business I would be celebrating and fully supporting the Cap-N-Trade bill because I know that my American counterparts will not survive the taxation and regulatory burdens that will inevitably increase the cost of operating a manufacturing business in the U.S.A
The end of the American industrial complex is at hand with the Cap-N-Trade bill. This is and always has been the objective of the enemies of America. Nothing other than a massive reduction in government payroll and regulations will save American industry at this point. The 75,000 page CFR is a perfect example of the mountain of regulations that handcuff and suffocate American industry and entrepreneurialism. Who is going to start up a manufacturing company in America with the knowledge that Uncle Same will be standing there at every single point of the process with his virtual hand in your pocket taxing every aspect of your business and telling you how to operate your business from the employees you hire to the light bulbs you use in the office and then tax you on everything you do as you add value to the raw materials you purchase. The sign on the door now reads CLOSED FOR BUSINESS.
This Mortimer is no Snerd..
As usual Mort does his homework and shares it with us..He always has an interesting perspectine and is willing to stick he neck out.If he is correct I will remember and if he is not I will soon forget..
