Author Topic: primitives love and hate Krugman  (Read 327 times)

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Offline USA4ME

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primitives love and hate Krugman
« on: February 09, 2009, 03:13:55 PM »
Quote from:

Paul Krugman: What the Centrists Have Wrought

What the Centrists Have Wrought
by Paul Krugman

I’m still working on the numbers, but I’ve gotten a fair number of requests for comment on the Senate version of the stimulus.

The short answer: to appease the centrists, a plan that was already too small and too focused on ineffective tax cuts has been made significantly smaller, and even more focused on tax cuts.

According to the CBO’s estimates, we’re facing an output shortfall of almost 14% of GDP over the next two years, or around $2 trillion. Others, such as Goldman Sachs, are even more pessimistic. So the original $800 billion plan was too small, especially because a substantial share consisted of tax cuts that probably would have added little to demand. The plan should have been at least 50% larger.


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Krugman Calls Out Obama

So has Mr. Obama learned from this experience? Early indications aren’t good.

For rather than acknowledge the failure of his political strategy and the damage to his economic strategy, the president tried to put a postpartisan happy face on the whole thing. “Democrats and Republicans came together in the Senate and responded appropriately to the urgency this moment demands,” he declared on Saturday, and “the scale and scope of this plan is right.”

No, they didn’t, and no, it isn’t.

- Paul Krugman, "The Destructive Center," today.

All in all, the centrists’ insistence on comforting the comfortable while afflicting the afflicted will, if reflected in the final bill, lead to substantially lower employment and substantially more suffering.

But how did this happen? I blame President Obama’s belief that he can transcend the partisan divide — a belief that warped his economic strategy...


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Attention Mr. Krugman, et al.....This ain't no Boy Scout Outing that we are talking about... 

If Mr. Krugman and some of ya'll think that the Democrats were going to get their wish list with this Historically gigantic Stimulus Package after what Bush Jr. Did with half of the 700 Billion bailout money (that no one knows what was done with!), you are out of your mind.

We aren't going to get everything in the Stimulus that we want.

Barack Obama is not Santa Claus.

and, Barack Obama is not Bush Jr.! He ain't gonna ram through a bill just because he might can.

If anything, we better be glad that a Bill of an unheard gigantic amount will pass, and know that it will have many very good worthwhile items in it. I'm sure that Education and Aids to States will be put back into the Bill (if they have been taking out) during Obama will shame the opposition into doing just that.

But to believe that we were going to get a Bill exactly as each and every one of us envisioned it, that's a bit over the top in miracle wishing. Oh...and could someone let Mr. Krugman know, he who writes a good game but has yet to have actually "done" anything that even closely resembles what it is that President Obama has to do, that the more he blames our democracy and how it works on Barack Obama, the more I feel like telling him to STFU. Perhaps he should start attacking the ****ed up media instead, as opposed to going on all of the same ****ed up chatter shows that are killing us with their manipulation of the ignorant public, and tell them the **** off, and to call them on their PR ploy to confuse the public (maybe he can write a column on that too, while he's at it).....since he's soooo ******* smart and all!!

As for us, if we want something included in the bill that is not there, I suggest that we start inudating those congress critters who are responsible for those things gone missing. It ain't all about Barack Obama, and he has always told us that it wasn't. If you want to get mad about a bill that you are still not sure of what it will look like once everything is said and done, than do something about it.....apart from than sitting up here writing about how President Obama this, and President Obama that....

The financial problems that you are experiencing or are about to experience weren't caused by President Obama, and the only solution ain't simply to decide that you know better than he.....because I can guarantee you this; your superior knowledge ain't gonna get you diddly squat if we don't start fighting the media and the opposition congress to actually change the public perception on this stimulus.

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Frank Booth 
Paul Krugman is the #1 ranked economist in the world.

He won the mvp for economists for the 2008 season. Other economits suck.

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Paul Krugman: Pro-Union, Pro-Labor, from the AFL-CIO

"Speaking on the topic, “Unions and Inequality,” Krugman noted the percentage of workers in unions declined from a high of 35 percent in the mid-1950s to today’s level of 12 percent. As a result, the United States has “lost something that’s essential to maintain a decent society.”

Krugman attributes the nation’s worsening economic inequality in large part to declining unionization and the erosion of legal protection of workers’ freedom to choose unions and bargain. He cited a finding that one-third of the difference in the rise in earnings inequality between the United States and Canada is attributable to the much faster rate of decline of unionization in this country. In fact, he says even this dramatic finding almost certainly is a major underestimate.

Krugman explained that when a high percentage of workers are in unions and workers’ freedom to choose unions is protected, there is an “umbrella” effect in which all workers, union and nonunion, benefit. He cited work by economists Peter Temin and Frank Levy, who found that for a generation after World War II, the so-called “Treaty of Detroit” between the UAW and General Motors Corp. set standards for workers throughout the U.S. economy. (The Treaty of Detroit refers to the landmark contract the UAW negotiated after the war that has since been seen as the crowning achievement of the midcentury labor....

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Paul Krugman has no concept of Politics 

Pangloss was the philosopher in “Candide” who maintained that this is the “best of all possible worlds.” Whatever example you threw at him—disease, famine, war—he would think up a way to cast it as the best possible thing.

If you start from the proposition that Barack Obama is the “best of all possible leaders”… the smartest and most effective human being who has ever drawn breath, then certain conclusions follow.

The latest Panglossian argument is that if the stimulus bill is puny and ill-targeted and endangers us all by failing to recognize the magnitude of the deflationary risk it is still the best of all possible outcomes.

Since it will barely pass, that proves that nothing better could pass and that the President has done a masterful job of wringing the best possible response from congress, given the politics of the situation.

And when an economist points out the flaws in what the Obama administration is doing it is said that he is clueless about politics… cannot understand the political realities of the composition of Congress.


I counted at least another 6 I could have brought over, but this is enough to make the point.

These libs have so locked themselves into the need of Keynesian economics to be the end game and the only economic model worthy of consideration, they have in effect tied their own noose around their necks, Krugman being one of those wearing the rope.  The free market doctrine of monetarism as it has developed over the years is still used worldwide, has strong backing from many top economists and banking organizations around the world, and IMO is far superior to Keynes.  We very well could be entering a period of stagflation (inflationary period with rising unemployment coupled with a decrease in demand and business activity) triggered by an introduction of fiat money into economy via these "stimulus plans."  Keynesians are placing their hopes on pumping the banks with trillions of dollars with the stipulation they loan it out (for every $1 in deposits, banks can lend out approx. $10), therefore $4 trillion from the Fed equals $40 trillion pumped into a $13 trillion/yr economy.  But it's going to be too much over too short of a period of time.  We're staring at hyper-inflation.  It's 1973-75 and 1978-81 all over again.

No, I don't expect the DUmmies to understand this.  They just know Keynes says that gov't should get involved when things are bad, and since to the libs gov't holds all the answers, they fall right in line.  They're in for some big surprises.  Those who recognize what will be happening can place ourselves in a position to invest in a way that maximizes return, which with a world economy is even more diverse than it was 35 years ago.

Because third world peasant labor is a good thing.

Offline The Village Idiot

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Re: primitives love and hate Krugman
« Reply #1 on: February 09, 2009, 04:56:44 PM »
Krugman is an idiot who knows nothing about economics

Offline Carl

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Re: primitives love and hate Krugman
« Reply #2 on: February 09, 2009, 05:15:29 PM »
The problem with leftist economics is that it has redefined social change as economics and the two are hopelessly incompatible.
They seek to force a uniformity (they call it "fairness") of economic activity with themselves being the power brokers administering it.
That is always the end result of their ideals...a concentration of power in a ruling class.

I am perfectly happy to know that in a free market someone out there is going to have more then me but along with that comes the opportunity for me to improve my lot.
These fools are willing to sacrifice that chance on the empty promise that they will have it all without effort.
They never have and they never will,they are useful idiots to those who seek permanent power.