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<blockquote data-quote="bbsam" data-source="post: 823013" data-attributes="member: 22662"><p>Because KTE ignores the unintended consequences and in so doing puts the intended consequences further from being achieved. To view world wide macro-economics as simply KTE on a bigger scale fails miserably. In KTE if you cut up the credit card and tighten the belt, in time you are out of debt and doing better financially. In macro you cut up the credit card and unemployment spikes. You let entire industries fail (yes, due to bad management) and unemployment goes even higher. All the while the Chinese are watching their investment in America tank. Add to that a sudden knee-jerk trade war with the Chinese due to their unfair practices and guess what? China no longer sees the US as an indispensible trading partner, and calls in the debt. It's not like they haven't been investing all over the world anyway. Maybe America is no longer a good investment. Palin scary? Absolutely not. Palin as Chairman of the Federal Reserve would in 24 hours sing a completely different tune. If one thing is true, the seats of power in this country temper ideology. Those running the world economy are not going to let Obama, Palin, Moreluck, Wk, bbsam, buddy, or any other wannabe ruin what they have going. If that means bailing out banks and auto industries, then that's what they will do. But I doubt it entails trade wars between two economic giants.</p></blockquote><p></p>
[QUOTE="bbsam, post: 823013, member: 22662"] Because KTE ignores the unintended consequences and in so doing puts the intended consequences further from being achieved. To view world wide macro-economics as simply KTE on a bigger scale fails miserably. In KTE if you cut up the credit card and tighten the belt, in time you are out of debt and doing better financially. In macro you cut up the credit card and unemployment spikes. You let entire industries fail (yes, due to bad management) and unemployment goes even higher. All the while the Chinese are watching their investment in America tank. Add to that a sudden knee-jerk trade war with the Chinese due to their unfair practices and guess what? China no longer sees the US as an indispensible trading partner, and calls in the debt. It's not like they haven't been investing all over the world anyway. Maybe America is no longer a good investment. Palin scary? Absolutely not. Palin as Chairman of the Federal Reserve would in 24 hours sing a completely different tune. If one thing is true, the seats of power in this country temper ideology. Those running the world economy are not going to let Obama, Palin, Moreluck, Wk, bbsam, buddy, or any other wannabe ruin what they have going. If that means bailing out banks and auto industries, then that's what they will do. But I doubt it entails trade wars between two economic giants. [/QUOTE]
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