WSJ Live w/ Elon: Cybertruck will our best product ever; U.S. EV subsidies should be canned; & more....

[jerhenderson]

That's because excessive government debt had nothing to do with the Great Depression. In fact, government spending was at a low, which exacerbated the situation.

We didn't climb out of the depression until massive government spending got us out of it.

Government spending should be counter-cyclical - counter to business cycles - but also, it should spend on things that businesses don't and charity can't. Hence things like social goods, health care, environment, parks, education, and ubi...

-Crissa

Correct - the great depression was caused by Wall Street - ( who still hasn't learned their lesson or been regulated effectively ) the spending of World War 2 was what ultimately ended the depression.

 

[Crissa]

It was effectively over by 1938, but recovery spending was curtailed and slowed growth until the war basically reset everything.

We had another recession right after the war when military spending came to an end without sufficient replacement economic activity to trade off to,

-Crissa

 

[happy intruder]

might not be the right place......but isn't today 12/9.........been away but guess not big surprise today?

 

[Crissa]

might not be the right place......but isn't today 12/9.........been away but guess not big surprise today?

Tomorrow.

-Crissa

 

[John K]

And seriously Elon - lose the Kim Jong-il haircut.
Several Billion $ should get you a bit of an upgrade:

I sympathize about your reservation number going from 6 to 7 digits after the post.

 

[jerhenderson]

It was effectively over by 1938, but recovery spending was curtailed and slowed growth until the war basically reset everything.

We had another recession right after the war when military spending came to an end without sufficient replacement economic activity to trade off to,

-Crissa

yes recessions are normal after a war, which is why the Korean War was necessary.... then Vietnam..... etc

 

[jerhenderson]

might not be the right place......but isn't today 12/9.........been away but guess not big surprise today?

ummm.... 12/8 today

 

[FutureBoy]

ummm.... 12/8 today

That all depends on which hemisphere you are in.

In the Southern Hemisphere everything is upside down so they already had their day on 12/6.

East of the Atlantic. It is already 12/9 so they can probably tell us already what is so special about 12/9.

It’s just us Johnny come lately types in North America that are still waiting for the big reveal.

 

[Crissa]

yes recessions are normal after a war, which is why the Korean War was necessary.... then Vietnam..... etc

That's not how that works.

And that order is wrong, the recession was after Korea, not before, and military spending has very little inflationary impact, especially now. Too much of it captured by rich contractors who don't spend it.

-Crissa

 

[anionic1]

I agree with him. Cancel all EV, Charger and oil industry subsidies.

EV is already showing the demand is there. Oil is on the way out and they are making billions without even paying fair prices for oil and gas leases on federal property. \\No more corporate welfare.

Imagine how much we could save if we just cancelled half the useless government. I pay tens of thousands to them every year. Imagine what I could afford.

 

[anionic1]

It was effectively over by 1938, but recovery spending was curtailed and slowed growth until the war basically reset everything.

We had another recession right after the war when military spending came to an end without sufficient replacement economic activity to trade off to,

-Crissa

It’s so sad that we as humans are so limited in our ability to put our selfish survivalistic maximizing pride aside and get past the paper version of our value and work together to simply find real solutions to real problems.
The Great Depression didn’t have to happen and the results didn’t need to drag out. And government didn’t need to spend money in a Keynesian manner. Imagine if people instead of panicking and reacting on fear, which was only a self full filling prophecy, would have gotten together and said wow we really screwed that up let’s reset our value (money) system in such a way that we can keep moving forward. Like a default setting. It seems like over a short period of time people that had lots of paper versions of our value suddenly had less because people were counter reacting to possibly over valuing things in the stock market. So instead of panicking and hitting cash. What isn’t we said oops, yes a lot of people lost tons of money and in general x percentage was lost in value. So let’s put a mandatory reduction by x percentage in all goods to offset that loss and allow people to still buy and sell. Instead we took this very long slow road of allowing the government to spend the government form of our value to slowly increase the value of things until society found the real value of goods snd services again.
I really don’t like living in a world where the belief is that we need the government middle man to spend my value every time a major issue comes up. It seems very much to encourage government to promote or allow instability to justify more of their wasteful spending. I would much rather live in a world where we kept the value we created and worked together to sort out fair solutions when the value system failed.
that was long winded so thanks for reading if you made it to the end.

 

[Crissa]

Imagine how much we could save if we just cancelled half the useless government. I pay tens of thousands to them every year. Imagine what I could afford.

Generally, the government both has a better value on its dollar spent than private industry - and a dollar spent by the feds is more likely to be stimulating than a dollar captured by the majority (by market cap) of private companies.

It's just a myth that there's 'waste' or 'useless' spending by the government. You never see people making these arguments actually find a significant amount of money.

...And when you do, like say the unemployment benefits paid last year, you'll find the devil is in the details.

-Crissa

 

[jerhenderson]

That's not how that works.

And that order is wrong, the recession was after Korea, not before, and military spending has very little inflationary impact, especially now. Too much of it captured by rich contractors who don't spend it.

-Crissa

there were 2 recessions after WW2 before Korea began.

 

[jerhenderson]

Generally, the government both has a better value on its dollar spent than private industry - and a dollar spent by the feds is more likely to be stimulating than a dollar captured by the majority (by market cap) of private companies.

It's just a myth that there's 'waste' or 'useless' spending by the government. You never see people making these arguments actually find a significant amount of money.

...And when you do, like say the unemployment benefits paid last year, you'll find the devil is in the details.

-Crissa

yes... governments spend and companies tend to hoard - hoarding doesn't do anything for the economy.

 

[jerhenderson]

That all depends on which hemisphere you are in.

In the Southern Hemisphere everything is upside down so they already had their day on 12/6.

East of the Atlantic. It is already 12/9 so they can probably tell us already what is so special about 12/9.

It’s just us Johnny come lately types in North America that are still waiting for the big reveal.

yes I'm north america-centric.