tag:blogger.com,1999:blog-4900303239154048192.post1345834504033703233..comments2024-03-06T06:34:42.881-05:00Comments on EconoSpeak: Tim Pawlenty on Tax Revenues During the 1980’sUnknownnoreply@blogger.comBlogger3125tag:blogger.com,1999:blog-4900303239154048192.post-18351781098910420242011-06-23T01:22:11.931-04:002011-06-23T01:22:11.931-04:00It amazes me how economists and politicians can co...It amazes me how economists and politicians can constantly bicker over idiotology regarding government spending, taxation and monetary policy and completely miss the REAL events that are the CAUSE or the extender of economic dislocations. NO economist I have heard of is willing to admit that the "Dust Bowl" played a huge role in the depth and length of the Great Depression. All those people who had subsisted on the lands were left with nothing. They had to find jobs and there were none. Agricultural prices continued to erode because the farmers were getting a lot smarter and a lot more efficient. But those who subsisted on the land were not all that concerned with the prices. They had their cow and their pigs and their corn and the like and that's all they needed. But when that is gone, so too are the general store (seeds man) and the local bank. And one 5th of the nation was left without a pot to pee in.<br /><br />Here is one more "reality" article with which we should deal:<br /><br />http://www.theoildrum.com/node/4643TheTruckerhttps://www.blogger.com/profile/10346127768102862741noreply@blogger.comtag:blogger.com,1999:blog-4900303239154048192.post-19447325334591543772011-06-22T11:51:19.116-04:002011-06-22T11:51:19.116-04:00I really doubt Pawlenty knows that either, since I...I really doubt Pawlenty knows that either, since I bet that no one around him has ever explained it to him, and I am sure he would never bother to figure it out for himself.chrishttps://www.blogger.com/profile/16656205857395104156noreply@blogger.comtag:blogger.com,1999:blog-4900303239154048192.post-70386155492329883672011-06-22T02:37:01.599-04:002011-06-22T02:37:01.599-04:00Why oh why do the Republicans and their apologists...Why oh why do the Republicans and their apologists insist that American "prosperity" (to the extent that it actually existed) during the 1980's was because of the tax cuts? The pictures I see tell a much different story:<br /><br />It is easy to make gains when you are at rock bottom. That is where the US economy was thanks to Paul Volcker who destroyed the American economy in order to "get" the inflation monster. After the disaster, interest rates were ratcheted downward all during the 80's. This will have had a greater influence on economic growth than tax cutting.<br /><br />http://www.greatervoice.org/econ/data/Newyeilds._html_2aaf0d1c.jpg<br /><br />And then there is the reality of energy prices:<br /><br />http://www.wtrg.com/oil_graphs/oilprice1947.gif<br /><br />Now unless you believe that cutting taxes caused oil production to increase in in the world OUTSIDE the USA then you can't actually claim causation. We see that the FED was busy trying to breath life back into the economy after wrecking it. On that OIL note I will add that if your primary source of world exchange money is OIL (as it was in the USSR) then the collapse of oil prices will tear down a wall or two.TheTruckerhttps://www.blogger.com/profile/10346127768102862741noreply@blogger.com