Comment 78596

By A Smith (anonymous) | Posted June 17, 2012 at 13:36:48 in reply to Comment 78576

>> you said it would be better to have people doing construction rather than on EI looking for jobs in their field.

No, I didn't. In fact, I never mentioned EI at all. But feel free to show me the quote.

What I did say, was that society would be better off paying idle workers to build infrastructure rather than sitting at home.

Here is a list of some of the infrastructure projects we could create...

Are you suggesting that none of these projects would provide an opportunity, for people like your dad, to create value for society?

>> where you said that by printing more money, we'd be out of the recession...Inflation aside, that just doesn't solve the problem.

What I have been saying, is that recessions occur when people spend less and save more. Recessions occurred in 1973-75, 1980, 1981-82, 1990-91, 2001 and 2007-09.

If you compare those years with this chart(, you will see that those recession years are correlated with an increase in private savings.

As for your concern about inflation, could you please explain why long term interest rates are at historic lows?

Canada 10 year bond: 1.74%
U.S. 10 year bond: 1.59%
UK 10 year Bond: 1.67%

Seriously DUDE, do you have any clue what you're talking about?

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