Coming Third Great Depression PAUL KRUGMAN New York Times

[KissMy]

New York Times -The Third Depression By PAUL KRUGMAN Published: June 27, 2010

We are now, I fear, in the early stages of a third depression. It will probably look more like the Long Depression than the much more severe Great Depression. But the cost — to the world economy and, above all, to the millions of lives blighted by the absence of jobs — will nonetheless be immense.

From a column by the Democrats favorite Economist from their Liberal Bible The NYT.

Say it ain't so!!!

 

[elvis]

who'd' have thought Newbarf was really Paul Krugman?

 

[william the wie]

With debts being written off faster than money can be created plus a higher but negative multiplier for write offs than for money creation isn't this right up there with saying the sky is blue?

 

[2Parties]

With every article you see why the politicians worship Krugman just like they worshipped Keynes. What a complete and utter tool...

 

[elvis]

With every article you see why the politicians worship Krugman just like they worshipped Keynes. What a complete and utter tool...

Didn't Krugman say Obama's stimulus package should have been twice as large?

 

[hortysir]

​

 

[KissMy]

What the Democrats fail to understand is the difference between austerity, stimulus & long term entitlements. These dumb-asses just passed a health-care bill that gives us austerity by taxing us now & burdens us with long term entitlements pressuring our debt rating reducing our ability to print, barrow & stimulate now.

How stupid are these idiots?

They should have gave us health-care now when people really need it & cut it back later when they can afford their own & tax us for it later. That is what is called short term stimulus & reducing long term entitlements relaxing pressure on debt ratings & gold prices.

 

[2Parties]

With every article you see why the politicians worship Krugman just like they worshipped Keynes. What a complete and utter tool...

Didn't Krugman say Obama's stimulus package should have been twice as large?

The Stimulus could have been $100 trillion and Krugman would say it should have been $200 trillion.

 

[Oddball]

From the piece:

And this third depression will be primarily a failure of policy. Around the world — most recently at last weekend’s deeply discouraging G-20 meeting — governments are obsessing about inflation when the real threat is deflation, preaching the need for belt-tightening when the real problem is inadequate spending.

More prescriptions of leeches and some boar vomit, from Theodoric of York.
Hulu - Saturday Night Live: Theodoric of York

 

[mascale]

(1) Mostly, "Austerity" in the Great World Socialist, Total Credit Market, means that pond scum no longer can use the California model of government employment as the road to wealth and riches. Pay is frozen. Finally, at University of California. Only last year it was even rolled back. Clearly, those are the households that caused it all.

(2) Mostly, the European targets are years away.

(3) Mostly, some limitations on the public benefits largesse will be imposed.

(4) The Great World Socialist, Total Credit Market will be tapped for the deficit reductions. The Concept of BP, for example, footing the bill for the Oil Spill clean-up: Is not in the textbooks. Therefore, what is happening globally, and worldwide, is not: According to anyone teaching or commentating, or analyzing current situations.

(5) The Manzanar level of Civil Liberties--the right to a pittance--is not presented in even in the law school textbooks. Supreme Court nominee Kagen is supportive of the Manzanar Concept of the basic civil right to a pittance, only. Justice Ginsburg is supportive of the Manzanar Concept of the basic civil right to a pittance, only. No civil right exists directly to any part of the Warren Buffet, or Bill Gates wealth, and commencing at birth. Clearly included is even that portion, taken as taxes. No Direct, redistributive Civil Right exits. Anyone especially Ivy League educated, is supportive of the Manzanar Concept for peoples. That is not in the textbooks, so they do not so-state.

(6) Krugman is supportive of the Manzanar Concept, which like the tapping of BP wealth: Is not in the textbooks. The Great Socialist World Credit Market is not in the textbooks. Current events are not really happening. See the article of Herbert Krugman for evidence.

(7) Clearly, Teaching is not possible, at any grade level--without the doctoral degree--unless it is believed that some kids are better than other kids, and that all the other kids are not worth the extra effort. That is not in the textbooks. Instead there are unqualified staff in the schools. For reference, see above: The widely Ivy League supported, Manzanar Concept of Civil Liberties.

(8) In fact, in the GOP Party of "No," even most recently their own concept of people paying down debts is with "No" money. The unemployed get "no" benefit extensions. The state and local governments get "no" further bail-outs. Americans generally get "no" national health insurance. Americans generally get "no" Cash For Clunkers" Americans generally get "no" Refundable Tax Credit. Americans generally get "no" federal stimulus whatsoever. Deficit reduction gets "no" money whatsoever.

(9) Anyone can note the much of current arithmetic is not in textbooks, and not allowed even to be presented or discussed in the schools!

"Crow, James Crow: Shaken, Not Stirred!"
(Apparently the "Reagan Trajectory" itself: Is still full of jelly beans!)

 

[PatekPhilippe]

Paul Krugman...the darling economist of the left wingnut loons jumping ship? I guess our country's finances must really be in trouble....

 

[PatekPhilippe]

In fact, in the GOP Party of "No," even most recently their own concept of people paying down debts is with "No" money. The unemployed get "no" benefit extensions. The state and local governments get "no" further bail-outs. Americans generally get "no" national health insurance. Americans generally get "no" Cash For Clunkers" Americans generally get "no" Refundable Tax Credit. Americans generally get "no" federal stimulus whatsoever. Deficit reduction gets "no" money whatsoever.

Proper prior planning prevents piss poor performance.

 

[editec]

Paul Krugman...the darling economist of the left wingnut loons jumping ship? I guess our country's finances must really be in trouble....

Krugman has been faulting the Establishment's (that would be the Insiders ruling both parties, incidently) handling of this economy for at least a year that I know of.

There is no LEFT in power in America.

There is the good cop party and bad cop party.

Both are controlled by the same class of people, for the benefit of the same class of people.

Hence we saw both Bush II and Obama bailing out that class of people and leaving the bill to be paid by the outsiders (that would be us, by the way).

 

[CrusaderFrank]

Obama and the Dems WANT a Depression! They are not happy with the continued recession

Next they will tank the USA Credit rating, and try to get us to join the North American Union and abandon the dollar. Do you see how well this has worked out for Greece, the Statist Paradise?

You think it's bad in Greece, but that just the plebes who are suffering, fuck them, they get what they asked for. The people pulling the switches are happy and well off just like in the USA.

My solace it that with the exception of the date of his column, Krugman has yet to be right about anything

 

[editec]

Obama and the Dems WANT a Depression! They are not happy with the continued recession

Why stop at the DEMS?

Didn't Bush II ALSO start giving money to the banks?

Next they will tank the USA Credit rating, and try to get us to join the North American Union and abandon the dollar. Do you see how well this has worked out for Greece, the Statist Paradise?

Who benefits from that, Cru?

You think it's bad in Greece, but that just the plebes who are suffering, fuck them, they get what they asked for. The people pulling the switches are happy and well off just like in the USA.

I don't spend a lot of time worrying about GREECE, mate.

We have problems of our own that occupy by thoughts

My solace it that with the exception of the date of his column, Krugman has yet to be write about anything

Not a clue what the above meant.

But Krugman is on record faulting the Obama admin's handling of the economic meltdown for quite come time.

Thinking that he is a tool of the Dems is, I suspect, a mistake.

The duelopoly that most people assume in fighting over this nation is a joke.

There are Insiders and then there's the rest of us.

The sooner you rightests and leftests begin to understand that, the better.

I had HOPES that the Tea Party might develop some sense about this long established and very successful conspiracy on behalf of the Insiders.

Sadly it doesn't seem to be happening.

 

[PatekPhilippe]

Obama and the Dems WANT a Depression! They are not happy with the continued recession

Next they will tank the USA Credit rating, and try to get us to join the North American Union and abandon the dollar. Do you see how well this has worked out for Greece, the Statist Paradise?

You think it's bad in Greece, but that just the plebes who are suffering, fuck them, they get what they asked for. The people pulling the switches are happy and well off just like in the USA.

My solace it that with the exception of the date of his column, Krugman has yet to be write about anything

You may have a point about the government wishing there would be a depression...that's the only way Obama would get his Rooseveltian progressive bullshit passed and the only way at this point to save his faltering legacy.

 

[CrusaderFrank]

Obama and the Dems WANT a Depression! They are not happy with the continued recession

Why stop at the DEMS?

Didn't Bush II ALSO start giving money to the banks?

Next they will tank the USA Credit rating, and try to get us to join the North American Union and abandon the dollar. Do you see how well this has worked out for Greece, the Statist Paradise?

Who benefits from that, Cru?

You think it's bad in Greece, but that just the plebes who are suffering, fuck them, they get what they asked for. The people pulling the switches are happy and well off just like in the USA.

I don't spend a lot of time worrying about GREECE, mate.

We have problems of our own that occupy by thoughts

My solace it that with the exception of the date of his column, Krugman has yet to be write about anything

Not a clue what the above meant.

But Krugman is on record faulting the Obama admin's handling of the economic meltdown for quite come time.

Thinking that he is a tool of the Dems is, I suspect, a mistake.

The duelopoly that most people assume in fighting over this nation is a joke.

There are Insiders and then there's the rest of us.

The sooner you rightests and leftests begin to understand that, the better.

I had HOPES that the Tea Party might develop some sense about this long established and very successful conspiracy on behalf of the Insiders.

Sadly it doesn't seem to be happening.

Yes, Bush II was a Statist and I wanted to gnaw my finger off for voting for him as soon as he let that fat fucking murderer Ted Kennedy write the Education bill.

The Statist benefit, the leaders, the rulers, the political class. They have convinced enough rubes (Dem voters) that this is in their interest too, excpet that when it blows up. The Statist will be in a secure villa guarded by the Secret Service while the Useful Idiots will be eating catfood and blaming Boooooosh

Krugman is a fucking retard and he knows less than nothing about economics. He's to economic what Al Gore is to science. Krugman's answers every problem with: More and Bigger Government! And as a result he has a Nobel Prize and a column with the NY Times

 

[Zander]

With every article you see why the politicians worship Krugman just like they worshipped Keynes. What a complete and utter tool...

Didn't Krugman say Obama's stimulus package should have been twice as large?

Why stop at 2x as large? Go a Gazillion times larger!! We'll start a boom!!! Keynes would be turning over in his grave if he knew what was being advocated in his name.

 

[Neubarth]

With every article you see why the politicians worship Krugman just like they worshipped Keynes. What a complete and utter tool...

Didn't Krugman say Obama's stimulus package should have been twice as large?

Why stop at 2x as large? Go a Gazillion times larger!! We'll start a boom!!! Keynes would be turning over in his grave if he knew what was being advocated in his name.

Zander, it helps to approach it all with a sense of humor. Could we in our worst estimates of Government inefficiency and excess ever have imagined a worse performance by government than we have seen in the past two years? When you look at the gross stupidity of the feeble government actions, all you can do is laugh. Obama believes in throwing money around, yet he does not know how to create jobs. I believe he has to be the stupidest president in history after Ford.

 

[CrusaderFrank]

Obama's not stupid, he's an organized political serial killer