[FoRK] Obama: Redistributionist, pro-capitalist, or both?

Stephen Williams sdw at lig.net
Tue Aug 26 22:47:49 PDT 2008

Welcome to the Fair Enough post:

Jeff Bone wrote:
> On Aug 26, 2008, at 8:29 PM, Lucas Gonze wrote:
>> On Tue, Aug 26, 2008 at 5:27 PM, Jeff Bone <jbone at place.org> wrote:
>>> Here's his specific statement in its full, original context:
>>> http://www.cnbc.com/id/23832520
>>> He sets the ceiling at 28%.  That's nearly double.  There's no 
>>> reason to
>>> think it won't go to the ceiling, either.
>> Is that specifically what you're thinking of when you foretell ten
>> years of locusts, Jeff?
> BTW, I didn't say "Dust Bowl," I said Great Depression.  I'm not 
> speculating about ecology.  You can ridicule my predictions all you 
> want, I do this for a living.
Famous last words, but OK.  We're listening.
> Did you fail to read this from an earlier post?
> "Russell, it's not just about tax increases.  There's the small matter 
> of an additional $1.5T in new social program spending, and all that 
> entails (in terms of opportunity costs had that money and manpower 
> been deployed elsewhere in the economy.)"
Tackled later on, in other messages...
> Let me be even clearer.  Obama will not necessarily *cause* a Great 
> Depression, nor will McCain necessarily *prevent* it.  The problem is 
> in the intersection between policy, public spending (how much and 
> where) and taxation, and most of all external factors that will have 
> very little to do with the policies of either.  Our situation at the 
> moment is extremely unstable.  Neither candidate does much to help 
> that;  but Obama's $1.5T in new spending coupled with increased 
> regulation (likely under both administrations) coupled with present 
> fundamental weakness --- all in --- by my analysis almost doubles the 
> risk of pushing us over that tipping point and, importantly, *keeping 
> us there for a prolonged period* (as did FDR during the Great 
> Depression.)
OK, fair enough.  You see the Big One coming.  Can you summarize your 
logic (I know you have in bits and pieces), ore much better, present 
your formula for the coming tipping point?  What specific decisions, or 
at least types of decisions, will be made that will so completely tank 
the economy that we will be in a GP.

You and JAR have mentioned the lack of capital.  Fair enough, could 
happen.  Fluctuates all the time.  That still doesn't mean that startups 
can't flourish or that business stops.  It may become much slower.  
Some, but not all, kinds of businesses can bootstrap without capital.  
The fact that more don't is that an also-ran with capitalization can run 
right by them.  But that doesn't necessarily stop all creativity and 
business creation, it just changes the filter and playing field.  Not 
the end of the world.

In fact, I'm planning to bootstrap my best ideas.

> jb

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