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New Wow, a complete ignorance of globalization
I'd expect better from Harvard.
Too much of today's music is fashionable crap dressed as artistry.Adrian Belew
New So, what is it you're saying here?
That President Reagan personally invented globalization and thereby ushered in an era of prosperity?

And if that's not what you're saying, then what does (whatever it is you are saying about) globalization have to do with Seamus' point, namely (to remind you) that the American economic prosperity of the nineties was not necessarily Reagan's personal doing?


   [link|mailto:MyUserId@MyISP.CountryCode|Christian R. Conrad]
(I live in Finland, and my e-mail in-box is at the Saunalahti company.)
Ah, the Germans: Masters of Convoluted Simplification. — [link|http://www.thetruthaboutcars.com/?p=1603|Jehovah]
New Re: So, what is it you're saying here?
Ok, here is the quote

And an April 2000 study by Harvard economist Benjamin Friedman for the National Bureau of Economic Research said Commerce Department data showed that, contrary to popular belief, the Reagan deficit did not lead to an investment boom -- all rates of domestic investment actually slowed down in the 1980s.

"The familiar conclusion that sustained government deficits at full employment depress private capital formation has stood up well," Friedman wrote.


And this is being used to support a claim that the econ policies of the late 80s had nothing to do with the boom in the 90s.

The only indicator mentioned is >private< capital formation on a domestic basis. It ignores the HUGE impact that the credit facility put in place invited unprecedented foreign investment in the US. During that time, all major asian auto manufacturers build facilities in the US, it ignores the influx of billions in foreign real estate investment etc.

It also ignores, and I can't imagine it being anything but purposefully, PUBLIC capital formation, which is what deficit government spending gives you. More guns, more government jobs, more infrastructure etc.

Was the prosperity the direct result of one act of cutting taxes? Absolutely not. Did Al Gore have something to do with it by helping fund tech? Sure...him and everyone who made sure it passed. Did the massive gov't spending programs make sure it happened. You bet.

Does any of that have anything at all to do with private capital formation. No.
Too much of today's music is fashionable crap dressed as artistry.Adrian Belew
New The claim was that the Reagan deficits produced the
dot com era. That is what I was refuting.

Before you decide what the author ignores and what he is claiming you should read the [link|http://www1.worldbank.org/wbiep/fiscalpolicy/friedman.pdf|whole paper] 
Seamus
New A chaired professor and former Dept chairman
is completely ignorant of globalization? Much easier to hand wave then to try to show that he was wrong.

Seamus
New dunno, alternate theories by walter williams are offered
he is also a prof especial.
thanx,
bill
Quantum materiae materietur marmota monax si marmota monax materiam possit materiari?
Any opinions expressed by me are mine alone, posted from my home computer, on my own time as a free american and do not reflect the opinions of any person or company that I have had professional relations with in the past 51 years. meep

reach me at [link|mailto:bill.oxley@cox.net|mailto:bill.oxley@cox.net]
New Yes, a supply-sider. There the only ones left who
argue the deficits don't matter.
Seamus
New well listening to hillary giving away money
if she is elected she must be a supply sider as well.
that 5k per kid has to come from somewhere.
thanx,
bill
Quantum materiae materietur marmota monax si marmota monax materiam possit materiari?
Any opinions expressed by me are mine alone, posted from my home computer, on my own time as a free american and do not reflect the opinions of any person or company that I have had professional relations with in the past 51 years. meep

reach me at [link|mailto:bill.oxley@cox.net|mailto:bill.oxley@cox.net]
New A supply sider is someone who thinks stimulating
the suppliers will somehow increase demand. She is not talking about giving to the supply side.
Seamus
Expand Edited by Seamus Oct. 5, 2007, 01:24:23 PM EDT
     More betrayus.... - (Simon_Jester) - (108)
         Is he calling our generals traitors? - (Seamus)
         a little long on hyperbole - (boxley) - (96)
             I don't usually agree with you - (Seamus) - (95)
                 petraus like macnamara - (boxley) - (94)
                     What duties are those, Box? - (jb4)
                     Talk about chicken shit - (Seamus)
                     Your "will do what his boss tells him" kind of chicken... - (CRConrad) - (91)
                         so, they are loading iraqis into ovens now? -NT - (boxley) - (90)
                             No, not as far as I know. Why, does that somehow make... - (CRConrad) - (89)
                                 try reading my original post - (boxley) - (88)
                                     SIGH...It gets more and more wrong. - (CRConrad) - (87)
                                         naw, the germans were cheering all the way thru 1941 - (boxley) - (86)
                                             Uuh... Yes. Logic much, mr Sequitur Strawman? - (CRConrad) - (85)
                                                 were you not comparing a point in time? if not - (boxley) - (84)
                                                     Two, actually: Germany, 1932, and USA, 2007. - (CRConrad) - (83)
                                                         long as we dont invade russia in winter - (boxley) - (82)
                                                             WTF is WRONG with you? Are you stoned out of your... - (CRConrad) - (81)
                                                                 Now THERE is a funny non-seq -NT - (bepatient) - (80)
                                                                     Non? Seemed to follow pretty directly, dinnit? How not? -NT - (CRConrad)
                                                                     Nah - (crazy) - (78)
                                                                         the lady's penchant for petty revenge with all the - (boxley) - (77)
                                                                             Nope, that still doesn't explain WHY you're so mad. - (CRConrad) - (17)
                                                                                 isnt isnt 28 years of clinton bush enuff? - (boxley) - (3)
                                                                                     Re: isnt isnt 28 years of clinton bush enuff? - (Seamus) - (2)
                                                                                         yer right, it just seemed like 28 years -NT - (boxley) - (1)
                                                                                             It will seem like alot longer, heaven forbid. -NT - (bepatient)
                                                                                 It's because of the pronoun - (Silverlock) - (1)
                                                                                     bullcrap - (boxley)
                                                                                 ms I dont know in charge of the gummint? - (boxley) - (10)
                                                                                     Um, her senior thesis isn't sealed any more. - (Another Scott)
                                                                                     Bravo! Yeah, that's *exactly* what I mean. - (CRConrad) - (8)
                                                                                         Hey, back in the day - My Gramma used to get reams of those - (Ashton) - (1)
                                                                                             Reminds me of a passage in NDCC. - (Another Scott)
                                                                                         funny, you seem ready to convict the current - (boxley) - (5)
                                                                                             When was she named an unindicted co-conspirator? -NT - (Seamus)
                                                                                             Uhh... "slim evidence" for the lies that got you into Iraq? - (CRConrad) - (3)
                                                                                                 you gargle yer koolaid this am? - (boxley) - (2)
                                                                                                     You're wrong AGAIN! - (CRConrad) - (1)
                                                                                                         :-) -NT - (boxley)
                                                                             As opposed to shrub's penchant for major revenge? - (crazy) - (54)
                                                                                 Fred still says Saddam had WMDs and a nuke program. - (Another Scott) - (53)
                                                                                     box doesn't care - (crazy) - (3)
                                                                                         Perhaps boxley is like me. - (Another Scott) - (1)
                                                                                             I did, once :-) - (imqwerky)
                                                                                         exactly -NT - (boxley)
                                                                                     Heck, alot of folks said that - (bepatient) - (48)
                                                                                         she's a whatever it takes kind of guy - (boxley)
                                                                                         He said it *two days* ago. He hasn't been paying attention. - (Another Scott) - (46)
                                                                                             the same she who admits she didnt read the intel report? -NT - (boxley) - (35)
                                                                                                 How many did? - (Another Scott) - (34)
                                                                                                     a lazy dimbulb is what we need - (boxley) - (33)
                                                                                                         Yeah look at what Reagan did for the country - (Seamus) - (32)
                                                                                                             dot com era, end of cold war yup all bad things -NT - (boxley) - (31)
                                                                                                                 Like the other Bill(Hmm,has anyone seen them both together?) - (CRConrad)
                                                                                                                 Reagan had nothing to do with the dot com era - (Seamus) - (29)
                                                                                                                     of course lowering taxes hurt the economy...right -NT - (boxley) - (28)
                                                                                                                         Reading for comprehension - try it some time - (Seamus) - (7)
                                                                                                                             Macroeconomics - study it sometime. -NT - (bepatient) - (1)
                                                                                                                                 Wasn't the issue -NT - (Seamus)
                                                                                                                             reagan had nothing to do with the collapse of the sovs - (boxley) - (4)
                                                                                                                                 Did you even read the paper by Yegor Gaidar? - (Seamus) - (3)
                                                                                                                                     You must have something against - (bepatient) - (2)
                                                                                                                                         No, its believing that you can cut taxes, increase spending - (Seamus)
                                                                                                                                         HOW ROBUST IS THE CURRENT ECONOMIC EXPANSION? (new thread) - (Seamus)
                                                                                                                         The issue was did Reagan cause the collapse of the USSR - (Seamus) - (8)
                                                                                                                             can you say disinformatsya? probably not -NT - (boxley) - (7)
                                                                                                                                 I forgot the AEI is all about spreading Russian - (Seamus) - (6)
                                                                                                                                     if they are trying not to repeat past mistakes - (boxley) - (5)
                                                                                                                                         A fear of Soviet control of the middle east wasn't a - (Seamus) - (4)
                                                                                                                                             not for the saudis - (boxley) - (3)
                                                                                                                                                 Yeah the huge loss of oil revenue - (Seamus) - (2)
                                                                                                                                                     hate to break it to you - (boxley) - (1)
                                                                                                                                                         The idea is that the fall of oil prices - (Seamus)
                                                                                                                         The other issue was that Reagan caused the dot com era - (Seamus) - (10)
                                                                                                                             Maybe a more neutral source - (Seamus) - (9)
                                                                                                                                 Wow, a complete ignorance of globalization - (bepatient) - (8)
                                                                                                                                     So, what is it you're saying here? - (CRConrad) - (2)
                                                                                                                                         Re: So, what is it you're saying here? - (bepatient) - (1)
                                                                                                                                             The claim was that the Reagan deficits produced the - (Seamus)
                                                                                                                                     A chaired professor and former Dept chairman - (Seamus) - (4)
                                                                                                                                         dunno, alternate theories by walter williams are offered - (boxley) - (3)
                                                                                                                                             Yes, a supply-sider. There the only ones left who - (Seamus) - (2)
                                                                                                                                                 well listening to hillary giving away money - (boxley) - (1)
                                                                                                                                                     A supply sider is someone who thinks stimulating - (Seamus)
                                                                                             Yes. - (bepatient) - (5)
                                                                                                 Not hardly. Fred's an out of touch lightweight. -NT - (Another Scott) - (3)
                                                                                                     We'll see if the party machinery can mold him - (bepatient) - (2)
                                                                                                         I think the R machinery knows that none of them can win. ;-) -NT - (Another Scott)
                                                                                                         They won't get a chance to mold him - (Seamus)
                                                                                                 Apparently - (Simon_Jester)
                                                                                             In his defense, from all the transcripts I've seen, he... - (CRConrad) - (3)
                                                                                                 Hmmm... - (Another Scott) - (2)
                                                                                                     Ok, yup, in *that* sense he was wrong. - (CRConrad) - (1)
                                                                                                         I'm not willing to give him a break. - (Another Scott)
                                                                             Thank youm thank you, thank you! :) - (a6l6e6x) - (3)
                                                                                 Are you sure it wouldn't be...? - (CRConrad) - (2)
                                                                                     It's a legacy of the "Song Title Game". It's not recent. -NT - (Another Scott)
                                                                                     I'm a native European. - (a6l6e6x)
         Main difference - (bepatient) - (9)
             How much of a difference is this? Not much. -NT - (Seamus)
             Actually, I don't believe that... - (Simon_Jester) - (7)
                 You don't believe an easily recognizable fact? - (bepatient) - (6)
                     <man type=straw /> - (jb4)
                     Re: You don't believe an easily recognizable fact? - (Simon_Jester) - (4)
                         You know... - (bepatient) - (3)
                             And you determined that how? - (hnick) - (2)
                                 Simple really - (bepatient) - (1)
                                     I do think some of your analysis is correct (new thread) - (Simon_Jester)

But at least you can make it swallow the code.
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