Krugman drives it home again

[EdwardBaiamonte]

The shit Krugman advocates for has never worked in the history of the world.

The easiest way to settle the debate between the Keynesians, like Krugman, who believe that more government spending or monetary easing by the Fed will generate economic growth and the group of economists, like me, who are arguing for less government as the solution is to look at the economy.

Since the start of the recession in 2007, the federal government has added more “stimulus” spending to combat the recession than in all previous recessions combined, even after adjusting for inflation. At the same time, the Federal Reserve has quadrupled its balance sheet in an attempt to boost the economy through loose monetary policy. Yet, the recovery from the recession is the weakest of any post-WW II recovery.

Paul Krugman Is Wrong Even When He Is Right - Forbes

 

[percysunshine]

The shit Krugman advocates for has never worked in the history of the world.

The easiest way to settle the debate between the Keynesians, like Krugman, who believe that more government spending or monetary easing by the Fed will generate economic growth and the group of economists, like me, who are arguing for less government as the solution is to look at the economy.

Since the start of the recession in 2007, the federal government has added more “stimulus” spending to combat the recession than in all previous recessions combined, even after adjusting for inflation. At the same time, the Federal Reserve has quadrupled its balance sheet in an attempt to boost the economy through loose monetary policy. Yet, the recovery from the recession is the weakest of any post-WW II recovery.

Paul Krugman Is Wrong Even When He Is Right - Forbes

When did I post that? Which thread?

 

[The Rabbi]

The shit Krugman advocates for has never worked in the history of the world.

The easiest way to settle the debate between the Keynesians, like Krugman, who believe that more government spending or monetary easing by the Fed will generate economic growth and the group of economists, like me, who are arguing for less government as the solution is to look at the economy.

Since the start of the recession in 2007, the federal government has added more “stimulus” spending to combat the recession than in all previous recessions combined, even after adjusting for inflation. At the same time, the Federal Reserve has quadrupled its balance sheet in an attempt to boost the economy through loose monetary policy. Yet, the recovery from the recession is the weakest of any post-WW II recovery.

Paul Krugman Is Wrong Even When He Is Right - Forbes

Krugman and the Keynesians would tell you the problem is we didnt spend enough. I dont know how much would be enough in their view but I suspect the number cannot be expressed without superscripts.

 

[EdwardBaiamonte]

The shit Krugman advocates for has never worked in the history of the world.

The easiest way to settle the debate between the Keynesians, like Krugman, who believe that more government spending or monetary easing by the Fed will generate economic growth and the group of economists, like me, who are arguing for less government as the solution is to look at the economy.

Since the start of the recession in 2007, the federal government has added more “stimulus” spending to combat the recession than in all previous recessions combined, even after adjusting for inflation. At the same time, the Federal Reserve has quadrupled its balance sheet in an attempt to boost the economy through loose monetary policy. Yet, the recovery from the recession is the weakest of any post-WW II recovery.

Paul Krugman Is Wrong Even When He Is Right - Forbes

Krugman and the Keynesians would tell you the problem is we didnt spend enough. I dont know how much would be enough in their view but I suspect the number cannot be expressed without superscripts.

Yes its the quintessential free lunch. All you gotta do is tax and spend your way to an ever growing economy!!

 

[The Rabbi]

The easiest way to settle the debate between the Keynesians, like Krugman, who believe that more government spending or monetary easing by the Fed will generate economic growth and the group of economists, like me, who are arguing for less government as the solution is to look at the economy.

Since the start of the recession in 2007, the federal government has added more “stimulus” spending to combat the recession than in all previous recessions combined, even after adjusting for inflation. At the same time, the Federal Reserve has quadrupled its balance sheet in an attempt to boost the economy through loose monetary policy. Yet, the recovery from the recession is the weakest of any post-WW II recovery.

Paul Krugman Is Wrong Even When He Is Right - Forbes

Krugman and the Keynesians would tell you the problem is we didnt spend enough. I dont know how much would be enough in their view but I suspect the number cannot be expressed without superscripts.

Yes its the quintessential free lunch. All you gotta do is tax and spend your way to an ever growing economy!!

Its based on the erroneous idea that there is some magic multiplier to government spending that increases each dollar they spend to 3 or 4 dollars. It ignores the effect of where they got the dollar in the first place. As well as the stupidity of thinking that somehow gov't spending money is superior to people spending money.
In actual fact the "multiplier" is less than one.

 

[EdwardBaiamonte]

Krugman and the Keynesians would tell you the problem is we didnt spend enough. I dont know how much would be enough in their view but I suspect the number cannot be expressed without superscripts.

Yes its the quintessential free lunch. All you gotta do is tax and spend your way to an ever growing economy!!

Its based on the erroneous idea that there is some magic multiplier to government spending that increases each dollar they spend to 3 or 4 dollars. It ignores the effect of where they got the dollar in the first place. As well as the stupidity of thinking that somehow gov't spending money is superior to people spending money.
In actual fact the "multiplier" is less than one.

yes, less than one by taking hard earned money from people who know how to earn and spend it and giving it to make-work lib bureaucrats who only know how to waste other peoples money very freely.

 

[Shanty]

You COMPLETELY missed the part about suppressed wages & increased profit. Read the OP again

Wages do not increase with high unemployment and low demand for labor. Wages always increase with high employment and high demand for labor. Wages are always the last thing that rebounds in a recession. Krugman knows this as an economist, however, he uses it as a catapult to forward leftist ideology. No surprise there. Corporations will continue to hoard capital and minimize wages until they are certain that investment in expansion and wages will pay off. It has been the same in every recession in US history. The laws of economics do not bend to the wishes of leftist economists.

Wages increase during recessions. Often, it's because of contracts spelling out wages increases in collective bargaining agreements. And that's a good thing in suppressed demand situations, like the aftermath of the Bush/GOP housing bubble collapse, and the additional wages being a way to not suppress demand more.

 

[Toro]

You COMPLETELY missed the part about suppressed wages & increased profit. Read the OP again

Wages do not increase with high unemployment and low demand for labor. Wages always increase with high employment and high demand for labor. Wages are always the last thing that rebounds in a recession. Krugman knows this as an economist, however, he uses it as a catapult to forward leftist ideology. No surprise there. Corporations will continue to hoard capital and minimize wages until they are certain that investment in expansion and wages will pay off. It has been the same in every recession in US history. The laws of economics do not bend to the wishes of leftist economists.

Wages increase during recessions. Often, it's because of contracts spelling out wages increases in collective bargaining agreements. And that's a good thing in suppressed demand situations, like the aftermath of the Bush/GOP housing bubble collapse, and the additional wages being a way to not suppress demand more.

Total compensation fell during the last recession.

 

[The Rabbi]

You COMPLETELY missed the part about suppressed wages & increased profit. Read the OP again

Wages do not increase with high unemployment and low demand for labor. Wages always increase with high employment and high demand for labor. Wages are always the last thing that rebounds in a recession. Krugman knows this as an economist, however, he uses it as a catapult to forward leftist ideology. No surprise there. Corporations will continue to hoard capital and minimize wages until they are certain that investment in expansion and wages will pay off. It has been the same in every recession in US history. The laws of economics do not bend to the wishes of leftist economists.

Wages increase during recessions. Often, it's because of contracts spelling out wages increases in collective bargaining agreements. And that's a good thing in suppressed demand situations, like the aftermath of the Bush/GOP housing bubble collapse, and the additional wages being a way to not suppress demand more.

That's the stupidest thing you've ever posted. Honest.

If people are getting laid off and going on unemployment, one characteristic of a recession, how do wages increase? If employers are looking to cut costs and lay off people, how are they going to increase wages?
Didnt you post in some other thread that the other person didnt know anything about economics? Ithink you've proven you do not.

 

[EdwardBaiamonte]

Wages increase during recessions. Often, it's because of contracts spelling out wages increases in collective bargaining agreements.

collective bargaining is used by a tiny % of work force so it cant make all wages rise in a recession when all the other pressure on the vast majority of the labor force is to reduce wages.

 

[Shanty]

Wages increase during recessions. Often, it's because of contracts spelling out wages increases in collective bargaining agreements.

collective bargaining is used by a tiny % of work force so it cant make all wages rise in a recession when all the other pressure on the vast majority of the labor force is to reduce wages.

Not really. The idea that wages are "sticky" is seen in economic data.

Wages still rise during recessions, just not as fast as during them. And, raising minimum wages during a downturn can help to alleviate pressure to lower wages.

 

[Shanty]

Wages do not increase with high unemployment and low demand for labor. Wages always increase with high employment and high demand for labor. Wages are always the last thing that rebounds in a recession. Krugman knows this as an economist, however, he uses it as a catapult to forward leftist ideology. No surprise there. Corporations will continue to hoard capital and minimize wages until they are certain that investment in expansion and wages will pay off. It has been the same in every recession in US history. The laws of economics do not bend to the wishes of leftist economists.

Wages increase during recessions. Often, it's because of contracts spelling out wages increases in collective bargaining agreements. And that's a good thing in suppressed demand situations, like the aftermath of the Bush/GOP housing bubble collapse, and the additional wages being a way to not suppress demand more.

That's the stupidest thing you've ever posted. Honest.

If people are getting laid off and going on unemployment, one characteristic of a recession, how do wages increase? If employers are looking to cut costs and lay off people, how are they going to increase wages?
Didnt you post in some other thread that the other person didnt know anything about economics? Ithink you've proven you do not.

Wage increases slow, but do not fall, generally.
http://cas.umkc.edu/econ/economics/faculty/Lee/courses/602/readings/investment6.pdf

http://www.richmondfed.org/publications/research/econ_focus/2013/q1/pdf/jargon_alert.pdf

This is Econ 101 stuff, dude.

 

[Dot Com]

Wages increase during recessions. Often, it's because of contracts spelling out wages increases in collective bargaining agreements. And that's a good thing in suppressed demand situations, like the aftermath of the Bush/GOP housing bubble collapse, and the additional wages being a way to not suppress demand more.

That's the stupidest thing you've ever posted. Honest.

If people are getting laid off and going on unemployment, one characteristic of a recession, how do wages increase? If employers are looking to cut costs and lay off people, how are they going to increase wages?
Didnt you post in some other thread that the other person didnt know anything about economics? Ithink you've proven you do not.

Wage increases slow, but do not fall, generally.
http://cas.umkc.edu/econ/economics/faculty/Lee/courses/602/readings/investment6.pdf

http://www.richmondfed.org/publications/research/econ_focus/2013/q1/pdf/jargon_alert.pdf

This is Econ 101 stuff, dude.

The Rabbi is just trying to score cheap political points, no doubt.

Krugman slammed the *cough* "job creators" & for good reason.

 

[Shanty]

That's the stupidest thing you've ever posted. Honest.

If people are getting laid off and going on unemployment, one characteristic of a recession, how do wages increase? If employers are looking to cut costs and lay off people, how are they going to increase wages?
Didnt you post in some other thread that the other person didnt know anything about economics? Ithink you've proven you do not.

Wage increases slow, but do not fall, generally.
http://cas.umkc.edu/econ/economics/faculty/Lee/courses/602/readings/investment6.pdf

http://www.richmondfed.org/publications/research/econ_focus/2013/q1/pdf/jargon_alert.pdf

This is Econ 101 stuff, dude.

The Rabbi is just trying to score cheap political points, no doubt.

Krugman slammed the *cough* "job creators" & for good reason.

He gets no points for showing he doesn't know basic economics.

 

[EdwardBaiamonte]

Wage increases slow, but do not fall, generally.
http://cas.umkc.edu/econ/economics/faculty/Lee/courses/602/readings/investment6.pdf

http://www.richmondfed.org/publications/research/econ_focus/2013/q1/pdf/jargon_alert.pdf

This is Econ 101 stuff, dude.

The Rabbi is just trying to score cheap political points, no doubt.

Krugman slammed the *cough* "job creators" & for good reason.

He gets no points for showing he doesn't know basic economics.

dear, please say exactly where you think he's mistaken or admit to being a liberal?

 

[Listening]

I think we defined Krugman pretty well in this thread.

He's a moron.

http://www.usmessageboard.com/the-flame-zone/334625-paul-krugman-is-a-moron.html

 

[percysunshine]

Nobel Prizes do not go as far as they use to.

How is that Obama Peace Prize working out ... ?


.

 

[Shanty]

The Rabbi is just trying to score cheap political points, no doubt.

Krugman slammed the *cough* "job creators" & for good reason.

He gets no points for showing he doesn't know basic economics.

dear, please say exactly where you think he's mistaken or admit to being a liberal?

Princess, I showed his ignorance about wage growth during recessions.

http://www.usmessageboard.com/economy/331588-krugman-drives-it-home-again-3.html#post9621812

It was that easy. But, facts make it that easy for me, and so hard for you. Because, you can't rely on facts, where I do.

 

[Shanty]

I think we defined Krugman pretty well in this thread.

He's a moron.

http://www.usmessageboard.com/the-flame-zone/334625-paul-krugman-is-a-moron.html

Looks like the website linked to in the OP PWNED a lot of conservatives alone. I mean, the dope admits that he didn't understand the book "Conscience of a Liberal" when Krugman is known for being able to convey his thoughts to both laymen and professional economists. What does it say for the blogger to say he can't read one of the most readable writers of our time on public policy?

Maybe he needs Hooked On Phonics...

 

[bigrebnc1775]

He points out that slowly recovering economies, brought to the brink by wall st greed mind you, are doing quite well in a nascent economy. How you might ask Well, by short-sheeting their employees of course. Its the randian way.

Why Corporations Might Not Mind Moderate Depression

What about actual experience in this depressed economy? Well, that’s the motivating example. You see, from a profits point of view it’s not a depressed economy at all. Look at profits versus compensation of employees (that’s wages and benefits combined) since the slump began at the end of 2007; both are expressed as indexes with 2007Q4=100:

Running cover for the bad obama economy
Blame Bush
or unexpectedly spike in lost jobs or economic growth
NOW
a little bitty depression is a good thing.
OH for fuck sakes you fucking idiots need to stop it.