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Forums - General - China also spending billions to stimulate the economy. But wait...

The Ghost of RubangB on 10 November 2008
Tispower1 said:
The Ghost of RubangB said:
We just voted for a bullet train in California that will use renewable energy and create a ton of jobs in California, and it barely passed. Many people thought that spending money on infrastructure was a bad thing to do during the economic crisis, as opposed to a way to get us out. This train will be cheaper, safer, faster, and cleaner than the old ones. California and China know what's up.

Well surely the money's got to come from somewhere right? That's why people didn't want to buy out the banks, so why would they want to increase spending on infrastructure?

Yeah, but we're in debt, and we've gotta SPEND OUR WAY OUT!

Either that or just stop spending money on everything all at once, no health care, no education, no social security, no police, and raise taxes.

We're fucked either way, so we might as well dump money into infrastructure because it benefits the people and creates local jobs.  And since it also benefits the environment, it will have the long term benefit of cleaner air which will reduce people's health problems which will save money.  It will also reduce traffic accidents, which will save money on hospital bills and car repairs.  And it will save people gas money, and it will save people time (which they can use to make money).



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Tispower1 on 10 November 2008
The Ghost of RubangB said:
Tispower1 said:
The Ghost of RubangB said:
We just voted for a bullet train in California that will use renewable energy and create a ton of jobs in California, and it barely passed. Many people thought that spending money on infrastructure was a bad thing to do during the economic crisis, as opposed to a way to get us out. This train will be cheaper, safer, faster, and cleaner than the old ones. California and China know what's up.

Well surely the money's got to come from somewhere right? That's why people didn't want to buy out the banks, so why would they want to increase spending on infrastructure?

Yeah, but we're in debt, and we've gotta SPEND OUR WAY OUT!

Either that or just stop spending money on everything all at once, no health care, no education, no social security, no police, and raise taxes.

We're fucked either way, so we might as well dump money into infrastructure because it benefits the people and creates local jobs.  And since it also benefits the environment, it will have the long term benefit of cleaner air which will reduce people's health problems which will save money.  It will also reduce traffic accidents, which will save money on hospital bills and car repairs.  And it will save people gas money, and it will save people time (which they can use to make money).

Suppose so, I guess that's why the depression ended with WWII, because people were forced to spend, albeit it was on warfare not for the good of the people.

 



The Ghost of RubangB on 10 November 2008

Also, back then everybody conserved everything, because they actually cared. People tolerated rationing back then. People today are in love with their SUVs and Hummers and television and McDonald's. If we had to ration our gasoline today, people would go nuts.

We need more than policies to fix this mess. We need to get the people to care again. It took WW2 to do it last time, but people seem to not care about our economy, global warming, and multiple wars. I don't know how to fix it, and I'm glad it's not my job.



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NJ5 on 10 November 2008
Tispower1 said:

Suppose so, I guess that's why the depression ended with WWII, because people were forced to spend, albeit it was on warfare not for the good of the people.

 

A war can give an economic boost, but not a good one. War spending doesn't create much useful infrastructure or future wealth, even if it creates high GDP and employment. Similar to make-work jobs:

http://en.wikipedia.org/wiki/Make-work_job

 



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Tispower1 on 10 November 2008
NJ5 said:
Tispower1 said:

Suppose so, I guess that's why the depression ended with WWII, because people were forced to spend, albeit it was on warfare not for the good of the people.

 

A war can give an economic boost, but not a good one. War spending doesn't create much useful infrastructure or future wealth, even if it creates high GDP and employment. Similar to make-work jobs:

http://en.wikipedia.org/wiki/Make-work_job

 

 

I guess that's why it's so hard to work out how to grt out of recession.