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Re:Wall Street Banks Warn Downturn Is Coming by Fredej on Wednesday August 23, 2017 @10:48AM (#15081897)
Thank you for the clarification.

Does a similar video exist from the "Savings drive the economy" point of view?

Re:Wall Street Banks Warn Downturn Is Coming by splintercell on Wednesday August 23, 2017 @11:53AM (#15082511)
I couldn't find a video that well done, but there are videos explaining this stuff. One of this is Austrian Business Cycle Theory where you can look it up.

https://www.youtube.com/watch?v=te-xwqKApAE

But as I said, everybody has an opinion on "savings vs spending" (just look at the responses to my original comment), and it's such a clear classification that at that end of the day you can divide every individual on one or the other side of this debate.

Savings vs Spending is actually more accurately defined under "Say's Law". Whether you believe Say's law to be true or not. Keep in mind, pro-spending side defines Say's law different than pro-savings side (it's like pro-choice vs pro-life).

The economic ideas which fall under "Savings drives the economic growth" are:

Free Market policies, deregulation, privatization, reduced govt spending, (most) Republican/Conservative economic policies, anti-war, lower taxation, global trade, anti-protectionism, "Work and jobs will always exist".

The economic ideas which fall under "Spending drives the economic growth" are:

Increased govt spending (includes war spending), regulated markets, nationalized industries, UBI, Welfare, "machines will do everything one day", higher taxation, (most) Democratic/Liberal economic policies, higher spending on education, universal healthcare, infrastructure spending.

Funniest part about economics is that if you try to look at "evidence" then you'd find both the side being able to present the same events as an evidence of their theory being right. New Deal is simultaneously an example of how govt spending got us out of recession and how it dragged the recession to 10+ years.

Re:Wall Street Banks Warn Downturn Is Coming by didgeoridoo on Wednesday August 23, 2017 @11:17AM (#15082142)
Google "Austrian business cycle theory" for lots of material on the idea that boom & bust is caused by over/under-investment as a result of monetary policy distorting the "price of money" by manipulating interest rates. I haven't looked too deeply into whether it's a useful or explanatory theory, but that is what they believe.
Re:Wall Street Banks Warn Downturn Is Coming by _joel on Wednesday August 23, 2017 @10:55AM (#15081952)
I'd lookup Hayek, who has a different take on it compared to Keynes
Re:Wall Street Banks Warn Downturn Is Coming by wavefunction on Wednesday August 23, 2017 @11:22AM (#15082190)
Hayek, Friedman and Keynes provide a good starting point for three main strains of modern economic thought.

While Friedman is often portrayed as a 'synthesis' or mid-point between the philosophies of Keynes or Hayek on a linear plot, I found him to be closer to Hayek philosophically.

Re:Wall Street Banks Warn Downturn Is Coming by owebmaster on Wednesday August 23, 2017 @10:54AM (#15081939)
Probably not because that never happened.
Re:Wall Street Banks Warn Downturn Is Coming by didgeoridoo on Wednesday August 23, 2017 @11:04AM (#15082036)
Where do you think the money for business investments and commercial loans comes from? And do you think that either of these has anything to do with economic growth?
Re:Wall Street Banks Warn Downturn Is Coming by owebmaster on Wednesday August 23, 2017 @11:21AM (#15082183)
They ALL comes from governmental mechanism and spending.