"This economy is bad, but 1982 was worse.."

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Wednesday, January 21. 2009

"This economy is bad, but 1982 was worse.."

Leonhardt, in The NYT. Makes sense to me. I was there. In my view, some folks hype the badness simply to rationalize government power and money grabs.

The Big Three car-assemblers are dead men walking, and have been for years. I do have a concern about the banks, however, because when governments end up owning them, politics ends up running them. That is even worse than having politics run medical treatment.

Maybe it's a query: Which is worse: Barney Frank, Chris Dodd, and Nancy Pelosi controlling your doctor - or controlling your bank?

Posted by The Barrister in Hot News & Misc. Short Subjects, Our Essays at 18:03 | Comments (9) | Trackbacks (0)

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Give Them Time, They'll Have Both
"Which is worse: Barney Frank, Chris Dodd, and Nancy Pelosi controlling your doctor--or controlling your bank?"...

Weblog: Ed Driscoll.com
Tracked: Jan 22, 22:22

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Yes.

Apparently the spam filter doesn't like my families type of humor.

By "yes" I mean all of the above.

"Yes" is so much simpler.

#1 Rob on 2009-01-21 18:34 (Reply)

Which is worse: Barney Frank, Chris Dodd, and Nancy Pelosi controlling your doctor - or controlling your bank?

Is this a trick question? I personally don't want the far left wing of the Democratic Congress running either my banking or my health care.
sigh
(it just goes to prove that there is a much greater difference between "bad" and "worse," than there is between "good" and "better")

#2 cas on 2009-01-21 19:34 (Reply)

Don't Read This. Your self-promise to think positive will disappear like a popcorn fart.

http://thehill.com/dick-morris/the-obama-presidency--here-comes-socialism-2009-01-20.html

#3 buddy larsen on 2009-01-21 20:17 (Reply)

Some of my tax money is being released to pay for abortions overseas. Why am I paying for abortions overseas?

#4 bob on 2009-01-21 20:54 (Reply)

Since the early 1800's the US has a year-over-year growth of about 2%. There are bubbles. There are collapses. But in the long run, that steady 2% adds up. We have more stuff, greater ease, longer lives. An equivalent recession now is less harmful than one thirty years ago. A recession in 30 years will still have people much better off than they are now.

#5 Assistant Village Idiot (Link) on 2009-01-21 21:17 (Reply)

I sure hope it is only 1982 again, but in 1982 our economy was fundamentally sound. Now, unlike then, we have an unfathomable national debt, an unconscionable budget deficit, and a horrifying trade deficit. The recent improvement in the trade deficit is simply due to the crash in energy prices, not due to increased exports. The US economy no longer has a foundation on manufacturing and exports. Now the foundation is domestic consumption. That is not sustainable, particularly given our across the board deficits on a national and individual level.

Perhaps I'm just naive, but on a small scale an economy will not survive if it is horribly in debt and spends more money than it earns each year. Maybe the US is too big to fail, but I sure don't see our economy becoming profitable any time soon, particularly in light of the massive bailouts on the horizon. I'm afraid this time is different, very different.

#6 Captain Obviousness on 2009-01-22 00:05 (Reply)

Once they have both, it's all over. they will never give up control again!

#7 rattso on 2009-01-22 01:43 (Reply)

I remember the 1970's only too well. The entire period may not have met the definition of a recession but it felt that way. The last few years of the decade, under President Carter and a Democratic Congress, were the worst. The recession of 1982 was pretty mild (unless, of course, it was your job). The inflation-unemployment-interest-rate pressures of 1974-1982 were much uglier.

#8 Geoff on 2009-01-22 14:14 (Reply)

the "Misery Index" is in 'search', for all to see.

My first house, bought when i already had a wife & kid and made $850/month, carried a double digit mortgage.

#8.1 buddy larsen on 2009-01-22 15:29 (Reply)

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Wednesday, January 21. 2009

"This economy is bad, but 1982 was worse.."