Krugman: personal austerity versus government austerity

Discussion in 'Economy' started by EdwardBaiamonte, May 9, 2012.

  1. EdwardBaiamonte
    Offline

    EdwardBaiamonte Gold Member

    Joined:
    Nov 23, 2011
    Messages:
    27,548
    Thanks Received:
    1,130
    Trophy Points:
    205
    Ratings:
    +3,046
    1) A person is not a country , according to Krugman

    2) If a person spends, drinks, or takes drugs too much the obvious solution is to cut back, according to Krugman. But if many individuals cut back it will depress the economy he says.

    3) Conversely, if a drunken government spends too much the solution is too keep spending since that stimulates the economy. To cut back would depress the economy and sustain the Obama depression, according to Krugman.


    Does this make sense to anyone?
     
    Last edited: May 9, 2012
  2. Rozman
    Offline

    Rozman Gold Member Supporting Member

    Joined:
    Sep 18, 2009
    Messages:
    16,573
    Thanks Received:
    3,060
    Trophy Points:
    290
    Location:
    Brooklyn,NY
    Ratings:
    +6,687
    Paul Krugman and a lot of Lefties wanted more stimulus.
    They wanted more more tax payer money to hire more people
    like Cops,Fireman,Teachers so on and so on to stimulate the economy.

    But it's a shell game.
    Moving money to hire people that generates more tax revenue
    so government can hire more to generate more tax revenue....

    But it produces NOTHING....

    Wouldn't it have been better to have that money go to people who actually produce.
    That way the products bought and the money spent stays here.

    Stimulus money went to hire people who spent that money on goods produced in China.
    That money went out of the country.
     
  3. Oddball
    Offline

    Oddball BANNED Supporting Member

    Joined:
    Jan 3, 2009
    Messages:
    41,428
    Thanks Received:
    8,397
    Trophy Points:
    0
    Location:
    Drinking wine, eating cheese, catching rays
    Ratings:
    +8,409
    Yes...Paul Krugman.

    Question is, does he make any sense to anyone with a single critical thought in their head?
     
  4. Rozman
    Offline

    Rozman Gold Member Supporting Member

    Joined:
    Sep 18, 2009
    Messages:
    16,573
    Thanks Received:
    3,060
    Trophy Points:
    290
    Location:
    Brooklyn,NY
    Ratings:
    +6,687
    Krugman was on MSNBC Morning Joe today while I was getting ready for work.
    I was half listening because he was saying half assed crap.
    From what I got he is totally for the new direction France will now take.
    What a shock....

    Spend,spend,spend....

    I hope the wealthy in that country get the F out before they lose 75% of their wealth to the government
     
  5. starcraftzzz
    Offline

    starcraftzzz Senior Member

    Joined:
    Feb 14, 2012
    Messages:
    2,263
    Thanks Received:
    120
    Trophy Points:
    48
    Ratings:
    +120
    So according to you saftey, less crime, education, and putting out fires does absolutely nothing. It would be hard for you to say anything stupider...
    Furthermore those people employed by the govt buy things such as food, cloths, healthcare, and transportation of which create jobs in those sectors.
    So again according to you people who produce food and cloths do not produce...
    Furthermore in a depressed economy in a liquidity trap like we are now there is not enough money going around to pay those who produce meaning govt spending cuts results in less money for those who produce
    So according to you people who build a road in American go to china...
    The stimulus had a requirement that goods bought be bought in China, furthermore since the stimulus bought a large variety of goods of which at least 75% are produced in Americaa most the money whent to Amernca
     
    • Thank You! Thank You! x 2
  6. itfitzme
    Offline

    itfitzme VIP Member

    Joined:
    Jan 29, 2012
    Messages:
    4,580
    Thanks Received:
    184
    Trophy Points:
    83
    Location:
    United States
    Ratings:
    +193
    I see you don't simply quote him.

    I don't believe that is what he said. I believe that , as usual, you are making claims that another said something that, in fact, they never did.

    Like that Bernanke and Freidman said that the Great Depression was caused by not following the rules of The Gold Standard.
     
  7. Mad Scientist
    Offline

    Mad Scientist Deplorable Gold Supporting Member Supporting Member

    Joined:
    Sep 15, 2008
    Messages:
    23,938
    Thanks Received:
    5,211
    Trophy Points:
    270
    Ratings:
    +7,678
    It's none of the govt's damn business how much I eat, drink, spend or sleep.

    However, IT IS my business how much gov't eats, drinks, spends and sleeps because they steal money from us to pay for it.
     
  8. Truthmatters
    Offline

    Truthmatters BANNED

    Joined:
    May 10, 2007
    Messages:
    80,182
    Thanks Received:
    2,223
    Trophy Points:
    0
    Ratings:
    +2,233
    link?
     
    • Thank You! Thank You! x 1
  9. Zoom-boing
    Offline

    Zoom-boing Gold Member

    Joined:
    Oct 30, 2008
    Messages:
    25,062
    Thanks Received:
    7,260
    Trophy Points:
    260
    Location:
    East Japip
    Ratings:
    +10,121
    THEN-SEN. BARACK OBAMA (D-IL): “Increasing America’s debt weakens us domestically and internationally. Leadership means that ‘the buck stops here.’ Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership.” (Sen. Obama, Congressional Record, S.2237-8, 3/16/06)

    OBAMA: “The first thing you do when you’re in a hole is what? … you stop digging. So the first thing that we’re going to have to do is to stop adding to our deficit.” OBAMA: “Keep in mind, the first 42 presidents, they amassed $5 trillion worth of debt, the first 42 of them. The first couple of hundred years-plus of American history, we accumulated $5 trillion. Now we’re at $9 trillion. That’s just bad — that’s not being fiscally conservative. And so we’re going to have to change our policies. Now, it’s going to be — let me say this. It’s not going to be completely easy, because we’re in a hole. And the first thing you do when you’re in a hole is what?” (UNKNOWN): “Stop digging.” OBAMA: “Stop digging. Who got that right? There you go. You stop digging. So the first thing that we’re going to have to do is to stop adding to our deficit.” (Sen. Obama, Remarks To Campaign Event, Watertown, SD, 5/16/08)


    My, my how the tune has changed. Talk is so very cheap, isn't it?

    How is living within a budget . . . oh, first you have to have a budget to live within.

    Ok, just pretend there's a budget.

    How is living within a budget (within your means) bad? Anyone?
     
    • Thank You! Thank You! x 1
  10. California Girl
    Offline

    California Girl BANNED

    Joined:
    Oct 8, 2009
    Messages:
    50,337
    Thanks Received:
    8,960
    Trophy Points:
    0
    Ratings:
    +8,965
    He's flippin', and coincidentally, he's floppin'.
     

Share This Page