Poverty is due to moral lacking

[Thorne]

If economics is a science, it is one trying to operate with so many variables it becomes useless.

Well, I used the term loosely. It IS a science, but a "soft" science, like psychology. Rather than predicting definitive outcomes, it predicts trends. And yes, it is far from precise.

One of which is the incompetance of banks.

Actually, it's the incompetence of BANKERS that is the problem, and economic theory can take that into account. It's just not comfortable when you do, so many economists ignore that, preferring to blame the "volatility of the market."

It is armchair thinking, and much more political ideology than logic or knowledge.

In large part it's a combination of all of these. Which makes it very easy to misuse.

In fact, nothing but a lot more control of this wild capitalism will save another crisis, and another.

I disagree. Removing the controls of capitalism would work far better, I think. Tighten the controls on monopolies, of course, and strengthen consumer protections, but let the markets work. A competitive marketplace has always been beneficial to both industry and consumers. Adding regulations which make it impossible for innovators to break into the marketplace only makes things worse.

The news on our tv was that if Obama and senate/rep had not made this temporary compromise, US would have had to stop paying its officials and vital functions within a very short time.

Doubtful. A good reason not to put to much stock into TV news. NON-vital functions might have had to be stopped, temporarily, which would not have been good for those government workers, but no way they would let the vital functions shut down.

[thir]

Doubtful. A good reason not to put to much stock into TV news. NON-vital functions might have had to be stopped, temporarily, which would not have been good for those government workers, but no way they would let the vital functions shut down.

They would have had no choice. I do not place too much stock in tv news, but this kind of thing is not something you just bandy about. And previous craches have been foreseen.

[Thorne]

They would have had no choice. I do not place too much stock in tv news, but this kind of thing is not something you just bandy about. And previous craches have been foreseen.

There have been threats like this before. No one has ever really seen WHAT might happen. I can say, though, that it's doubtful the politicians will lose any money over it.

[DuncanONeil]

I was working for the Government during a period of time when there were 15 shutdowns of Government. As I was working for various parts of DoD never once did I get sent home.

There have been threats like this before. No one has ever really seen WHAT might happen. I can say, though, that it's doubtful the politicians will lose any money over it.

[lucy]

Duncan, you make that sound as if the government is some obscure organization whose ultimate goal is to make everybody miserable and f*** them up their asses.
It is, however, the people YOU voted into office. YOU put them in charge and nobody else. Just sayin'.

[thir]

There have been threats like this before. No one has ever really seen WHAT might happen. I can say, though, that it's doubtful the politicians will lose any money over it.

No, it would be a number of official functions shutting down because they cannot be paid for.

[Thorne]

No, it would be a number of official functions shutting down because they cannot be paid for.

Which might not necessarily be a bad thing. At least we could determine which of those functions are truly necessary.

[DuncanONeil]

The Government has shut down a bunch of times. every time it has only been non-essential services. In simple terms the military do not get furloughed, though the civilians in Supply would likely.

They would have had no choice. I do not place too much stock in tv news, but this kind of thing is not something you just bandy about. And previous craches have been foreseen.