Tracking future inflation: Today's careless government spending is tomorrow's inflation

[D-Mack]

Re: Tracking future inflation: Today's careless government spending is tomorrow's inflation

will be? what do you call the string of crap pouring out of the fed, treasury, and congress for the past year? you think the bad idea bubble can get bigger?

[Slimprofits]

Re: Tracking future inflation: Today's careless government spending is tomorrow's inflation

alt-e bubble and more money in the pocket of consumer-citizens, all wrapped in one:

The Economy

Speakers:	Austan Goolsbee, Senior Economic Adviser, Obama-Biden 2008
	Robert Gwinn, Professor of Economics, University of Chicago Graduate School of Business
	Douglas Holtz-Eakin, Chief Economic Adviser, McCain-Palin 2008
Moderator:	Floyd Norris, Marketplace Columnist, New York Times

October 20, 2008
Council on Foreign Relations

Goolsbee: Obama has been quite clear from the beginning that we must auction the permits of a cap and trade and we should use the money, part for direct funding of a Manhattan Project for research, development and deployment of a variety of alternative energies to actually make this desire manifest.

And two, let's take all the rest of the money, and let's give it out in rebates...

[phirang]

Re: Tracking future inflation: Today's careless government spending is tomorrow's inflation

alt-e bubble and more money in the pocket of consumer-citizens, all wrapped in one:

Just looking at the CFR attendess reminds me that this whole crisis is a lot more crude and cruel than I care to imagine...

[Slimprofits]

Re: Tracking future inflation: Today's careless government spending is tomorrow's inflation

Did someone say ratchet up the spending?

Tokyo, Chicago, Madrid and Rio de Janeiro are the four cities in the running to host the 2016 Games.

“I wonder how IOC members will react when Mr. Obama appears in a presentation for Chicago,” Japanese Olympic Committee President Tsunekazu Takeda told Japanese media Wednesday.

The IOC will name the 2016 host at its general assembly in October next year.

“Mr. Obama is popular and good at speeches, so things could get tough for Japan,” said senior JOC board member Tomiaki Fukuda.

source: AP

[Slimprofits]

Re: Tracking future inflation: Today's careless government spending is tomorrow's inflation

Obama on 60 minutes last night:

...we shouldn't worry about the deficit next year or even the year after. That short term, the most important thing is that we avoid a deepening recession.

[tsetsefly]

Re: Tracking future inflation: Today's careless government spending is tomorrow's inflation

Obama on 60 minutes last night:

...we shouldn't worry about the deficit next year or even the year after. That short term, the most important thing is that we avoid a deepening recession.

good to know... wasn't he going to balance the budget?

[c1ue]

Re: Tracking future inflation: Today's careless government spending is tomorrow's inflation

Obama criticised the spending policies of Bush, but that is a far cry from balancing the budget. Note the very clear political (i.e. unclear position) noted in his answers to budget related questions below...

From the Des Moines debate:

http://www.ontheissues.org/2008/Bara..._+_Economy.htm

Q: Would it be a priority of your administration to balance the federal budget every year?


A: Over the last seven years, what we've seen is an economy that's out of balance because of the policies of George Bush and the Republicans in Congress. Not only do we have fiscal problems, but we've got growing inequality. People are working harder for less and they're seeing costs go up. So what I want to do is get the long-term fundamentals right. That means that we are investing in education & infrastructure, structuring fair trade deals, and also ending the war in Iraq. That is money that can be applied at home for critical issues.

Q: So a priority to balance the federal budget, or not?

A: We are not going to be able to dig ourselves out of that hole in 1 or 2 years. But if we can get on a path of sustained growth, end the war in Iraq, end some of the special interest loopholes and earmarks that have been clogging up the system, then I think we can return to a path of a balanced budget.

Rev up the helicopters!

[Slimprofits]

Re: Tracking future inflation: Today's careless government spending is tomorrow's inflation

Just after election day it was $300 billion split into two packages.

Trillion Dollar Stimulus

via the WSJ:

With the unemployment rate now expected to hit 9% without aggressive intervention, Obama aides and advisers have set $600 billion over two years as "a very low-end estimate," one person familiar with the matter said. The final number is expected to be significantly higher, possibly between $700 billion and $1 trillion over two years.

Christina Romer, who will lead Mr. Obama's Council of Economic Advisers, is also surveying economists, trying to build political consensus around a larger number before it is presented to Congress in early January. People familiar with the discussion say Lawrence Lindsey, President George W. Bush's first NEC director, has counseled $800 billion to $1 trillion in stimulus over two years. Harvard University economist Martin Feldstein, a Reagan White House economic adviser, has raised his initial, one-year, $300 billion figure to at least $400 billion.