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Originally Posted by The Demon
Actually, the stimulus was NOT good. It did NOT do anything other than create artificial growth and a false sense of security. The only people who believe we'd have a total collapse without stimulus are the government stimulus loving Keynesians. If we allow certain things to fail that are meant to fail, we would be out of the recession/depression cycles quickly. Deficit spending in the form of stimulus programs not only prolonges the inevitable, but makes the upcoming collapse even worse.
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There is no point in arguing if the stimulus had any positive effect or not. If you get a dozen people in the same room you will get a dozen different opinions. I think the stimulus saved the financial institutions, but I think without regulation... just a return to what was established after the depression, is pointless... more abuse is going to take place so nothing is solved... so in that regard, prolonging the inevitable you and dead on
Quote:
Originally Posted by The Demon
And yes, we used to be a manufacturing economy and turned into a service/consumption economy starting in the 70's. It's sad. That's why our trade deficit is huge.
Post WWII we experienced the greatest amount of economic prosperity in human history.
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True about post WWII, baby boomers grew up in a good time, but I was speaking more along the lines of my Gen (both just post baby boomer)