Nouriel Roubini to Congress: Pass Stimulus ASAP

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I surf the net and have read and watched literally hundreds of economists parlay their opinions. I, like your first reader, hate the excrement you heap upon this man. You only have to study the man closely; his voice, his directness, his frankness, his body posture, his gestures and mannerisms. His is a brillant mind and needs to be among the leaders for change. Obama, campaigning and running the country are two different things....you need Roubini NOW. He almost feels like a guiding star to me. romans8vii@att.net

Gail Gross of 5:28PM November 05, 2008

Guys like Roubini advocate a second stimulus, which will do nothing other than provide a short-lived prop in GDP (due to government spending, the G component of the equation Y=C+I+G+NE). It will not induce any long-term benefit to the country or its citizens. The first stimulus had very little, if any, effect and only resulted in an increased budget deficit.
The economy is in dire shape due to the unstable underlying support of the financial system, which needs amendment. I have seen numerous statistical analyses (multivariate time-serie regression), which suggest that increased government spending has a negative effect on the economy (stock market declines, higher income inequality). These government expenditures have to be financed somehow and that surely means higher taxes, which is a double whammy. Not only will Americans experience higher tax rates and be able to save less for retirement, but the stock market will underperform as a result, so the reduced money that is available for investment will not grow as much.
That doesn't sound very like very smart policy to me. We have seen recessions throughout history and will see more in the future, after we come out of this one! Let's not get all crazy and spend like there is no tomorrow. Fiscal conservatism, despite its bad rap, is a sensible long-term strategy.

Economics 101 of VA 2:53PM November 05, 2008

Re:
"I don't know why you refer to Dr. Roubini as Dr. Doom. It sounds like sarcasm."
After 10 years of right-wing radio and right-wing politics, Americans are now so dummied-down, they've become super-stupid, and in denial of reality. Americans can't think straight anymore, and they can't stand THE TRUTH, so smart people like Dr. Roubini are ridiculed.
Hopefully, this pathetic phenomena will end after November 4th.

Bina of IN 10:29AM November 02, 2008

The problem we have in the USA is that Government and citizens have been living on a credit binge for years!
Our tax laws reward debt such as mortgages and tax deductions.
Our gears are in reverse! We punish work, labor, income, profits, capital gains, interest, and savings with the current IRS tax code.
Fix the proble! Implement the FAIR TAX PLAN. It replaces the IRS with a revenue neutral and very easy to understand retail sales tax. It does not tax income, profits, capital gains, interest and savings.
Every legitimate citizen would received a monthly check of about $170 (enough to pay sales tax up to the poverty level).
Illegal citizens, the underground econonmy, and 50 million tourists will pay tax under the FAIR TAX PLAN.
No more tax returns on April 15!!!
Learn more at www.fairtax.org

whs806 of TX 7:48AM November 02, 2008

The first stimulus was merely a feel good political ploy without any lasting affects costing far more than any derived benefit so why repeat??? If anything at all we should invest in our infrastructure both existing and new alternative energies. The key is to only invest in ventures which will yield a favorable benefit rather than simply borrowing funds to give away which will only provide a temporary benefit to the stock market and nothing more. It's the old give a man a fish versus teach a man how to fish scenario!!! A current example is the proposed $25B bailout of the auto industry will do nothing except cushion an already failing industry versus a $10B investment in a hydrogen fueling infrastructure will allow approx. 1 million hydrogen fuel cell vehicles to be produced generating jobs, investment opportunities, tax revenue, reduce oil imports, etc... We must simply be smarter with our money than we have been historically!!!

Ray Fisher of NM 9:28AM October 31, 2008

I don't know why you refer to Dr. Roubini as Dr. Doom. It sounds like sarcasm. I watched todays Economics Committee hearing (Oct. 30) and listened to what the 4 Professors who were on the visiting Panel had to say. The only two who were honest were Dr. Johnson and Dr. Roubini. When asked if we were in a Recession they gave frank straightforward assessments with no equivocation, they both said yes. The other two who I can only assume were American born, should have been Politicians because they only knew how to be evasive and obfuscating. My question is, are Americans only capable of lying to themselves. Do we really want guys like Vedder and Langenfelde to lie to us. It became increasingly apparent that they were there merely as Republican shills. For you to mock the only voice of truth calling out from a wildnerness of liars is beyond belief.

Fred Mannheim of OR 9:48PM October 30, 2008