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	<title>Comments on: O goes YOYO</title>
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	<description>Facts, Thoughts, and Commentary</description>
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		<title>By: Michael</title>
		<link>http://jaredbernsteinblog.com/o-goes-yoyo/#comment-65160</link>
		<dc:creator>Michael</dc:creator>
		<pubDate>Sun, 11 Dec 2011 05:20:18 +0000</pubDate>
		<guid isPermaLink="false">http://jaredbernsteinblog.com/?p=3119#comment-65160</guid>
		<description><![CDATA[This is cute, but until Obama prosecutes some bankers, he&#039;s making clear that he&#039;ll throw everything away for more money to light on fire.]]></description>
		<content:encoded><![CDATA[<p>This is cute, but until Obama prosecutes some bankers, he&#8217;s making clear that he&#8217;ll throw everything away for more money to light on fire.</p>
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		<title>By: Petronius Arbiter</title>
		<link>http://jaredbernsteinblog.com/o-goes-yoyo/#comment-65126</link>
		<dc:creator>Petronius Arbiter</dc:creator>
		<pubDate>Sun, 11 Dec 2011 02:55:18 +0000</pubDate>
		<guid isPermaLink="false">http://jaredbernsteinblog.com/?p=3119#comment-65126</guid>
		<description><![CDATA[I was hoping this quotation from Al Franken&#039;s book would go viral. It hasn&#039;t, but I&#039;m going to push it anyway:

“In her book A Distant Mirror: The Calamitous Fourteenth Century, Barbara Tuchman writes about a peasant revolt in 1358 that began in the village of St. Leu and spread throughout the Oise Valley. At one estate, the serfs sacked the manor house, killed the knight, and roasted him on a spit in front of his wife and kids. Then, after ten or twelve peasants violated the lady, with the children still watching, they forced her to eat the roasted flesh of her husband and then killed her.

That is class warfare.

Arguing over the optimum marginal tax rate for the top one percent is not.”

    –Lies: and the lying liars who tell them : a fair and balanced look at the Right By Al Franken]]></description>
		<content:encoded><![CDATA[<p>I was hoping this quotation from Al Franken&#8217;s book would go viral. It hasn&#8217;t, but I&#8217;m going to push it anyway:</p>
<p>“In her book A Distant Mirror: The Calamitous Fourteenth Century, Barbara Tuchman writes about a peasant revolt in 1358 that began in the village of St. Leu and spread throughout the Oise Valley. At one estate, the serfs sacked the manor house, killed the knight, and roasted him on a spit in front of his wife and kids. Then, after ten or twelve peasants violated the lady, with the children still watching, they forced her to eat the roasted flesh of her husband and then killed her.</p>
<p>That is class warfare.</p>
<p>Arguing over the optimum marginal tax rate for the top one percent is not.”</p>
<p>    –Lies: and the lying liars who tell them : a fair and balanced look at the Right By Al Franken</p>
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		<title>By: Petronius Arbiter</title>
		<link>http://jaredbernsteinblog.com/o-goes-yoyo/#comment-65113</link>
		<dc:creator>Petronius Arbiter</dc:creator>
		<pubDate>Sun, 11 Dec 2011 02:25:50 +0000</pubDate>
		<guid isPermaLink="false">http://jaredbernsteinblog.com/?p=3119#comment-65113</guid>
		<description><![CDATA[Actually, the &quot;conservatives&quot;, libertarians, and Austrians misrepresent what Adam Smith said about markets. Without regulation and supervision, markets are just a tool to rob the general population. Adam Smith did not say that &quot;the market&quot; was the &quot;invisible hand&quot; that produced the general good from individual striving.]]></description>
		<content:encoded><![CDATA[<p>Actually, the &#8220;conservatives&#8221;, libertarians, and Austrians misrepresent what Adam Smith said about markets. Without regulation and supervision, markets are just a tool to rob the general population. Adam Smith did not say that &#8220;the market&#8221; was the &#8220;invisible hand&#8221; that produced the general good from individual striving.</p>
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		<title>By: Bill</title>
		<link>http://jaredbernsteinblog.com/o-goes-yoyo/#comment-64354</link>
		<dc:creator>Bill</dc:creator>
		<pubDate>Fri, 09 Dec 2011 18:52:11 +0000</pubDate>
		<guid isPermaLink="false">http://jaredbernsteinblog.com/?p=3119#comment-64354</guid>
		<description><![CDATA[Hmmm...shouldn&#039;t the title of your post be &quot;O goes off on YOYO&quot;? &#039;Cause he sure wasn&#039;t saying anything nice about it. (Not that there&#039;s a single thing nice to say about it.)]]></description>
		<content:encoded><![CDATA[<p>Hmmm&#8230;shouldn&#8217;t the title of your post be &#8220;O goes off on YOYO&#8221;? &#8216;Cause he sure wasn&#8217;t saying anything nice about it. (Not that there&#8217;s a single thing nice to say about it.)</p>
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		<title>By: Tyler</title>
		<link>http://jaredbernsteinblog.com/o-goes-yoyo/#comment-63686</link>
		<dc:creator>Tyler</dc:creator>
		<pubDate>Thu, 08 Dec 2011 17:28:13 +0000</pubDate>
		<guid isPermaLink="false">http://jaredbernsteinblog.com/?p=3119#comment-63686</guid>
		<description><![CDATA[The broad-based Bush tax cuts caused unemployment to drop.  Unfortunately, the housing bubble popped, causing the current unemployment crisis.]]></description>
		<content:encoded><![CDATA[<p>The broad-based Bush tax cuts caused unemployment to drop.  Unfortunately, the housing bubble popped, causing the current unemployment crisis.</p>
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		<title>By: Sams</title>
		<link>http://jaredbernsteinblog.com/o-goes-yoyo/#comment-63672</link>
		<dc:creator>Sams</dc:creator>
		<pubDate>Thu, 08 Dec 2011 16:34:55 +0000</pubDate>
		<guid isPermaLink="false">http://jaredbernsteinblog.com/?p=3119#comment-63672</guid>
		<description><![CDATA[In the United States, the debate always seems to center on the role government rather than of the market.  Rather than simply presenting a defense of government, I was pleased that Obama highlighted our failed experiments with a less regulated market and how we again face big questions on society&#039;s relationship to the market.  As Karl Polanyi put it:  &quot;Ultimately, that is why the control of the economic system by the market is of overwhelming consequence to the whole organisation of society; it means no less than the running of society as an adjunct to the market. Instead of economy being embedded in social relations, social relations are embedded in the economic system.&quot;]]></description>
		<content:encoded><![CDATA[<p>In the United States, the debate always seems to center on the role government rather than of the market.  Rather than simply presenting a defense of government, I was pleased that Obama highlighted our failed experiments with a less regulated market and how we again face big questions on society&#8217;s relationship to the market.  As Karl Polanyi put it:  &#8220;Ultimately, that is why the control of the economic system by the market is of overwhelming consequence to the whole organisation of society; it means no less than the running of society as an adjunct to the market. Instead of economy being embedded in social relations, social relations are embedded in the economic system.&#8221;</p>
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		<title>By: Tom Shire</title>
		<link>http://jaredbernsteinblog.com/o-goes-yoyo/#comment-63201</link>
		<dc:creator>Tom Shire</dc:creator>
		<pubDate>Thu, 08 Dec 2011 02:36:03 +0000</pubDate>
		<guid isPermaLink="false">http://jaredbernsteinblog.com/?p=3119#comment-63201</guid>
		<description><![CDATA[You may have missed this post, Tyler, which shows little or no correlation between broad-based tax increases or decreases, and employment:

 http://jaredbernsteinblog.com/fearlessly-if-not-uselessly-entering-the-fact-free-zone/

When it comes to stimulus, however, not all tax cuts are created equal. Republicans favor supply-side tax cuts that favor &quot;job creators.&quot; Democrats favor demand-side tax cuts that give relief to low and middle class consumers. In a 70% consumption-driven economy that has billions of corporate dollars already sitting on the sidelines, and long-term middle class wage stagnation, isn&#039;t the preferred stimulus obvious?

Democrats don&#039;t maintain that all tax cuts are ineffective the way so many Republicans insist that all tax cuts are beneficial. But I suspect most Ds will assert that the main impact of the Bush tax cuts was to unbalance the nation&#039;s budget while doing little to help the economy in the long run.]]></description>
		<content:encoded><![CDATA[<p>You may have missed this post, Tyler, which shows little or no correlation between broad-based tax increases or decreases, and employment:</p>
<p> <a href="http://jaredbernsteinblog.com/fearlessly-if-not-uselessly-entering-the-fact-free-zone/" rel="nofollow">http://jaredbernsteinblog.com/fearlessly-if-not-uselessly-entering-the-fact-free-zone/</a></p>
<p>When it comes to stimulus, however, not all tax cuts are created equal. Republicans favor supply-side tax cuts that favor &#8220;job creators.&#8221; Democrats favor demand-side tax cuts that give relief to low and middle class consumers. In a 70% consumption-driven economy that has billions of corporate dollars already sitting on the sidelines, and long-term middle class wage stagnation, isn&#8217;t the preferred stimulus obvious?</p>
<p>Democrats don&#8217;t maintain that all tax cuts are ineffective the way so many Republicans insist that all tax cuts are beneficial. But I suspect most Ds will assert that the main impact of the Bush tax cuts was to unbalance the nation&#8217;s budget while doing little to help the economy in the long run.</p>
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		<title>By: Lars Olsson</title>
		<link>http://jaredbernsteinblog.com/o-goes-yoyo/#comment-63066</link>
		<dc:creator>Lars Olsson</dc:creator>
		<pubDate>Wed, 07 Dec 2011 21:34:52 +0000</pubDate>
		<guid isPermaLink="false">http://jaredbernsteinblog.com/?p=3119#comment-63066</guid>
		<description><![CDATA[Had a reply to this going here, but it quickly became too long to be just a comment, so &lt;a href=&quot;http://phenobarbarella.wordpress.com/2011/12/07/jared-bernstein-and-two-presidents/&quot; rel=&quot;nofollow&quot;&gt;here&#039;s the link&lt;/a&gt; to it. Essentially, I agree: great speech. Not unlike a number of similarly great speeches given by the President on the campaign trail in 2007 and 2008. 

But when you compare yourself to TR, I can&#039;t help but remember that TR was, above all else, a man of ACTION. And actions, as everyone knows, speak louder than words. You want to encourage the TR comparisons to get re-elected, Mr. President? Then it&#039;s time to break out TR&#039;s legendary big stick, not just give speeches.]]></description>
		<content:encoded><![CDATA[<p>Had a reply to this going here, but it quickly became too long to be just a comment, so <a href="http://phenobarbarella.wordpress.com/2011/12/07/jared-bernstein-and-two-presidents/" rel="nofollow">here&#8217;s the link</a> to it. Essentially, I agree: great speech. Not unlike a number of similarly great speeches given by the President on the campaign trail in 2007 and 2008. </p>
<p>But when you compare yourself to TR, I can&#8217;t help but remember that TR was, above all else, a man of ACTION. And actions, as everyone knows, speak louder than words. You want to encourage the TR comparisons to get re-elected, Mr. President? Then it&#8217;s time to break out TR&#8217;s legendary big stick, not just give speeches.</p>
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		<title>By: Jared Bernstein</title>
		<link>http://jaredbernsteinblog.com/o-goes-yoyo/#comment-63052</link>
		<dc:creator>Jared Bernstein</dc:creator>
		<pubDate>Wed, 07 Dec 2011 21:03:23 +0000</pubDate>
		<guid isPermaLink="false">http://jaredbernsteinblog.com/?p=3119#comment-63052</guid>
		<description><![CDATA[It was the theme of my book All Together Now: Common Sense for a Fair Economy]]></description>
		<content:encoded><![CDATA[<p>It was the theme of my book All Together Now: Common Sense for a Fair Economy</p>
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		<title>By: Scott Supak</title>
		<link>http://jaredbernsteinblog.com/o-goes-yoyo/#comment-63020</link>
		<dc:creator>Scott Supak</dc:creator>
		<pubDate>Wed, 07 Dec 2011 19:47:36 +0000</pubDate>
		<guid isPermaLink="false">http://jaredbernsteinblog.com/?p=3119#comment-63020</guid>
		<description><![CDATA[Didn&#039;t you invent the term YOYO economics? I seem to remember you talking about it on the Daily Kos.]]></description>
		<content:encoded><![CDATA[<p>Didn&#8217;t you invent the term YOYO economics? I seem to remember you talking about it on the Daily Kos.</p>
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