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Old 03-24-2011, 5:16pm   #28
Entropy
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Okay, I'm getting a chance to really think about the video, and what I'm seeing is the idea that somehow, through taxing and spending and government jobs, we're creating wealth (according to the individuals in that video). I don't see government spending as a way to create wealth, rather it's a way to transfer it, since it offers services rather than innovates new technologies and develops new markets. The only real areas where it *might* accomplish that is through the funding in NSF and NIH, and even then, the investment is rather small comparatively.

The idea of forcing big business to spend the money or encouraging them to is ludicrous. If there is anything that has been shown forth by government, their ability to control how businesses operate successfully is an absolute and abject failure. Governments are subject to the rule of the market, so when they try to mess with it, it doesn't work. This is the source of crony capitalism, which means that businesses will get in bed with politicians for the short term, because it will make them money, but then they will get out as soon as it stops serving their immediate needs.

The whole idea of comparing tax breaks for big business to 1984 has to be the craziest damn thing I've ever heard. 1984 = big oppressive government, where the idea that Cantor had at the beginning of the video is to decrease the size of government. Now if they will actually do that is yet to be seen, but the initial idea that Chris and Robert had was just nuts.

The idea that somehow letting this government funding continue and will stimulate the economy is a shell game. Yeah, it might work for a little while, but it won't last. It's smoke and mirrors and will only serve for a short time and will not sustain continued growth. Why? Because in it's very essence it is wealth transfer, and not creation. It will just be another bubble. Such short sighted thinking is stupid. Period.

Discussing basic mathematics of economics and comparing it to a religion is a disservice to any points Matthews is trying to make. It weakens it as a red herring. People are underwater in their houses = so what in my book. It's only money lost if you actually sell your house, or if you try to borrow against it for some reason. Sometimes investments go badly, and if you can't deal with that, than capitalism is clearly not your game.

Last edited by Entropy; 03-24-2011 at 5:27pm.
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