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  1. #1 Paul Krugman makes it official. We're in a depression 
    eeeevil Sith Admin SarasotaRepub's Avatar
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    Yeah, he's a genius...


    Cyrano (1000+ posts) Mon Jun-28-10 06:57 AM
    Original message Paul Krugman makes it official. We're in a depression.



    http://www.nytimes.com/2010/06/28/opinion/28krugman.htm...

    The above link is to Krugman's column in today's NY Times. He's been right about almost everything for years now, but no one in a position to do anything about it has listened. Now, we are where we are.

    His column ends with frightening words: "And who will pay the price ...? The answer is, tens of millions of unemployed workers, many of whom will go jobless for years, and some of whom will never work again."

    Yet another thread for the DUmmy Doom&Gloom morons...:D
    May the FORCE be with you!
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  2. #2  
    Senior Ape Articulate_Ape's Avatar
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    Krugman is a meathead.

    This is my favorite Krugman moment (btw, don't forget he's a Nobel laureate, with all the credentials that carries these days. I think Bart Simpson is too, but I could be wrong. There's a first time for everything):

    http://www.youtube.com/watch?v=3EPd2i4Jshs
    "The efforts of the government alone will never be enough. In the end the people must choose and the people must help themselves" ~ JFK; from his famous inauguration speech (What Democrats sounded like before today's neo-Liberals hijacked that party)
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    Senior Member malloc's Avatar
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    You know, this is why I hate Keynesian Economics. It's not that Keynes was wrong, because he wasn't really. It's because hacks like this would gladly follow his theory right off the cliff of extremes when clearly stimulus spending doesn't work in every case.

    The sad part is, those in charge of our monetary base think just like him:

    "The US government has a technology, called a printing press, that allows it to produce as many US dollars as it wishes at essentially no cost."
    -- Ben Bernake, Deflation: Making Sure It Doesn't Happen Here

    Am I the only one who thinks this country could use some deflation and strengthening of the dollar?
    "In England a king hath little more to do than to make war and give away places; which in plain terms, is to impoverish the nation and set it together by the ears. A pretty business indeed for a man to be allowed eight hundred thousand sterling a year for, and worshipped into the bargain! Of more worth is one honest man to society and in the sight of God, than all the crowned ruffians that ever lived."
    —Thomas Paine, Common Sense
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    Quote Originally Posted by malloc View Post
    You know, this is why I hate Keynesian Economics. It's not that Keynes was wrong, because he wasn't really. It's because hacks like this would gladly follow his theory right off the cliff of extremes when clearly stimulus spending doesn't work in every case.

    The sad part is, those in charge of our monetary base think just like him:

    "The US government has a technology, called a printing press, that allows it to produce as many US dollars as it wishes at essentially no cost."
    -- Ben Bernake, Deflation: Making Sure It Doesn't Happen Here

    Am I the only one who thinks this country could use some deflation and strengthening of the dollar?
    Well said, malloc. It seems that when the only tool in one's box is a hammer, every problem is a nail.
    "The efforts of the government alone will never be enough. In the end the people must choose and the people must help themselves" ~ JFK; from his famous inauguration speech (What Democrats sounded like before today's neo-Liberals hijacked that party)
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    Quote Originally Posted by Articulate_Ape View Post
    Krugman is a meathead.
    Between him and Larry Summers, another Obummer whizz kid economist, I do not know what kind of stupid pills they are taking. While the leaders of G20 countries talk about reducing spending and debt, these two morons think the government need to spend more.
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    Quote Originally Posted by lacarnut View Post
    Between him and Larry Summers, another Obummer whizz kid economist, I do not know what kind of stupid pills they are taking. While the leaders of G20 countries talk about reducing spending and debt, these two morons think the government need to spend more.
    Krugman has wanted the FedGov to spend more from the get-go. He's like the anti-Friedman.
    "The efforts of the government alone will never be enough. In the end the people must choose and the people must help themselves" ~ JFK; from his famous inauguration speech (What Democrats sounded like before today's neo-Liberals hijacked that party)
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    Senior Member malloc's Avatar
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    When America does finally crawl out of this hole, I'm sure it will be in spite of government efforts, and not because of them. However, I wonder what U.S. History textbooks on the subject will have to say about government efforts. Will Obama be painted in the same light as FDR, for "fearlessly leading us out of this recession"? That is, if we are out of this recession by 2012, which I don't see happening.
    "In England a king hath little more to do than to make war and give away places; which in plain terms, is to impoverish the nation and set it together by the ears. A pretty business indeed for a man to be allowed eight hundred thousand sterling a year for, and worshipped into the bargain! Of more worth is one honest man to society and in the sight of God, than all the crowned ruffians that ever lived."
    —Thomas Paine, Common Sense
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    Quote Originally Posted by malloc View Post
    When America does finally crawl out of this hole, I'm sure it will be in spite of government efforts, and not because of them. However, I wonder what U.S. History textbooks on the subject will have to say about government efforts. Will Obama be painted in the same light as FDR, for "fearlessly leading us out of this recession"? That is, if we are out of this recession by 2012, which I don't see happening.

    I think Obama and Wilson are gonna be cellmates in the annals (pardon the pun) of history.
    "The efforts of the government alone will never be enough. In the end the people must choose and the people must help themselves" ~ JFK; from his famous inauguration speech (What Democrats sounded like before today's neo-Liberals hijacked that party)
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    Senior Member warpig's Avatar
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    I read the article, his answer...........................more spending. Where do they think that the money is going to come from??
    "What this country needs are more unemployed politicians."
    -Edward Langley

    "Liberals are the type of people who go on safari and wonder why they can't get out and pet the lions..."- warpig
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    Senior Member malloc's Avatar
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    The money? That's easy, it's going to come from right here:



    The value, the wealth, that's going to come out of every dollar anyone has earned.
    "In England a king hath little more to do than to make war and give away places; which in plain terms, is to impoverish the nation and set it together by the ears. A pretty business indeed for a man to be allowed eight hundred thousand sterling a year for, and worshipped into the bargain! Of more worth is one honest man to society and in the sight of God, than all the crowned ruffians that ever lived."
    —Thomas Paine, Common Sense
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