What Could the Republicans Do to the Economy that Could Be Worse than Obama?

[BigSkyBob]

He has followed the Japanese model, and, as a result, we should expect the Japanese result: twenty-plus years of stagnation.

[BigSkyBob]

He has followed the Japanese model, and, as a result, we should expect the Japanese result: twenty-plus years of stagnation.

1. It's better than the Russian model.

The failures of command economies to efficiently allocate resources, and, financial bubbles popping in market-oriented economies are different in kind. Had every Japanese company gone bankrupt, their factories would still be there.  Had the USSR collapsed, the factories would still be there, but, they couldn't produce output at a proper rate.

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And, you're aware that their national debt has ballooned to achieve nothing, right?

When their day of reckoning comes, and, it will if they continue on their deficit/stimulus path, Japanese living standards are apt to decline.

They should have taken the pain. Sure, a lot of Japanese companies would have failed. But, they came back from being fire-bombed to ashes, and, they could have come back from a financial meltdown.

[BigSkyBob]

He has followed the Japanese model, and, as a result, we should expect the Japanese result: twenty-plus years of stagnation.

1. It's better than the Russian model.
2. You're aware that the effect of the Lost Decades on actual living standards for most people in Japan has been less than dramatic, right?

You might wake up a year or so from now and realize you spoke to soon.

True enough.  Their policies of massive deficits year after year, like Obamanomics, can't go on forever.

[BigSkyBob]

True enough.  Their policies of massive deficits year after year, like Obamanomics, can't go on forever.

Bush's tax cuts and contributed way more to the debt than anything Obama ever did.

No, the "stimulus" bill was equally bad, if not worse.

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Reality check. Bush's tax cuts expired after ten years. Are you suggesting we repeal the Obama tax cuts?

[BigSkyBob]

True enough.  Their policies of massive deficits year after year, like Obamanomics, can't go on forever.

Bush's tax cuts and contributed way more to the debt than anything Obama ever did.

No, the stimulus bill was a porkfeast. Obamacare is a blackhole in the budget. Obama is insisting on yet another "stimulus bill."

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Bush's tax cuts expired. You mean repealling Obama's tax cuts don't you?

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[BigSkyBob]

Lol, Obama's tax cuts.

Republicans, you are marketing geniuses. Absolutely love it!

The baseline was for the tax cuts to expire. The policy change from the baseline was to extend those cuts. Obama signed those cuts into law. He owns them.

[BigSkyBob]

Lol, Obama's tax cuts.

Republicans, you are marketing geniuses. Absolutely love it!

The baseline was for the tax cuts to expire. The policy change from the baseline was to extend those cuts. Obama signed those cuts into law. He owns them.

Even though he didn't want them and only gave them away to your side as a bargaining chip so that you would ratify a comparatively uncontroversial arms treaty and allow gays into the military like three-quarters of the country had been asking you to?

If you have excuses for the fact that he owns them, so be it. Regardless of any excuses offered, Obama owns the current tax rates.

[BigSkyBob]

Lol, Obama's tax cuts.

Republicans, you are marketing geniuses. Absolutely love it!

The baseline was for the tax cuts to expire. The policy change from the baseline was to extend those cuts. Obama signed those cuts into law. He owns them.

Even though he didn't want them and only gave them away to your side as a bargaining chip so that you would ratify a comparatively uncontroversial arms treaty and allow gays into the military like three-quarters of the country had been asking you to?

If you have excuses for the fact that he owns them, so be it. Regardless of any excuses offered, Obama owns the current tax rates.

Because you say he does. Got it.

I, on the other hand, like most people who aren't batsh**t insane onanistic hacks, say that Addison Mitchell McConnell Junior owns the current tax rates.

Because, the standard asserted in the original article here assigned to President's responsibility for the fiscal impact of changes in policy during their watch. Before Obama took office, existing policy was that the 2001 tax cuts would expire. Obama changed that policy to lower tax rates. Whether, or not, that is a fair standard is beside the point. That was the standard asserted, and that was the standard I demonstrated hadn't been applied consistently to both Bush and Obama.

[BigSkyBob]

He has followed the Japanese model, and, as a result, we should expect the Japanese result: twenty-plus years of stagnation.

1. It's better than the Russian model.

The failures of command economies to efficiently allocate resources, and, financial bubbles popping in market-oriented economies are different in kind. Had every Japanese company gone bankrupt, their factories would still be there.  Had the USSR collapsed, the factories would still be there, but, they couldn't produce output at a proper rate.

I said 'Russian', not 'Soviet'. I meant 'Russian', not 'Soviet'.

That's a distinction that doesn't make much of a difference. Russia is a nation burdened by the decades of resource misallocation during the communist era.

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And, you're aware that their national debt has ballooned to achieve nothing, right?

When their day of reckoning comes, and, it will if they continue on their deficit/stimulus path, Japanese living standards are apt to decline.

They should have taken the pain. Sure, a lot of Japanese companies would have failed. But, they came back from being fire-bombed to ashes, and, they could have come back from a financial meltdown.
[/quote]

Serious question: Have you ever studied Japan at all?

They did take the pain. [/quote]

Taking the pain would have been recognizing that bankrupt companies were bankrupt. That didn't happened. Failed loans, "nonperforming," were kept on books disguising the insolvent, aka "bankrupt," nature of numerous companies.

Serious question: How stupid do you think I am in asserting that you are asking a serious question?

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As their population starts to decline, the costs of carrying their accumulated deficits will become more accute. As their population falls, Japan will become as less crowded nation. Their plan was to replace the declining pool of labor with robots. The debt will become a problem for Japan well before demographics.