Originally Posted by BelichickFan
That was world wide (I think), I'm under the impression our part is somewhere between $100-200B.
That, and your earlier question, together say a lot.
Although we are not what we once were as a proportion to the total global economy, we're still first among equals, accounting for 25% of the world's economy (I think.) I seem to remember, possibly, that we'd declined to 20%.
Now if you're looking at a global stimulus of $1T, and our part is $100B, it would seem like a pretty decent take-home, even if we are viewing economic recovery through a zero-sum prism. Particularly so since Mexico -- one of our biggest trading partners -- is now a prime recipient of IMF largesse (one of the instruments by which the money goes in.) at the 1:10 ratio, we would only need a 1:10 expenditure to come back to the US, and with 25% of the economy of the world, that seems like a fairly safe bet (calculating direct AND indirect effects.)
If you're looking beyond zero-sum to the Europeans' position prior to the talks, that they refuse to engage in further stimulus activities, then it's simply a win, no math required. We did not want to pump $1T into the global economy ourselves, so we got other people to spend $800-900B.
Sounds to me like the girl bought us a diamond ring, from that perspective.
Fog, despite the ongoing feud from those with whom I often agree, I think your response was an uncharacteristically good one, not just because you agree with me this time.
BFan, you and I differ in that I recognize but accept that there are dangers to spending at the moment, but consider the dangers of not spending worse. You (I think) believe it is foolish to consider massive economic stimulus to be a solution. I'm just trying to put the neutral gloss on our difference of opinion on the current economic moment.
I do think, however, that given that the US is engaged in a massive stimulus, it is a good thing to augment it with nearly a trillion bucks from European and Chinese sources -- without it being a loan (as is our usual course w/China).
Were the US not engaged in a stimulus approach, we'd have more of an argument, I guess. The question, as you say, is whether it's a good deal. From what I have seen, I think yes. We'll see.
For the guys that jerked their knees like the trained puppets they are, thanks for proving there are some constants yet left in the world. It helps me retain my sanity to know such predictable, reliable behavior is not a thing of the past, even if you are wrong. There is just so much change all around us these days, that it is comforting that some will shout "socialist!" and "fascist!" regardless of the event in question. That goes double for the "whatever happened he gave away the farm" crowd.