Krugman: "policy makers are in denial"

Discussion in 'Economy' started by Dante, Aug 27, 2010.

  1. Dante
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    Dante On leave Supporting Member

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    Krugma tales the administration to task, but he alos offers solutions. I tend to agree with him, because I remember even conservative economists saying they thought the "stimulus was too small" while saying they ideologically opposed a stimulus to begin with.

    Most credible economists admitted early on to being for or against the stimulus on principle.

    let's start with criticisms.
    quotes:

    Tim Geithner, the Treasury secretary, says that “we’re on the road to recovery.” No, we aren’t.

    we’re not in a classic recession, in which everything goes down. But so what?

    We need about 2.5 percent growth just to keep unemployment from rising, and much faster growth to bring it significantly down. Yet growth is currently running somewhere between 1 and 2 percent, with a good chance that it will slow even further in the months ahead.

    Will the economy actually enter a double dip, with G.D.P. shrinking? Who cares? If unemployment rises for the rest of this year, which seems likely, it won’t matter whether the G.D.P. numbers are slightly positive or slightly negative.

    but the end does not have to be near. courage. we need courage.

    What will Ben Bernanke, the Fed chairman, say in his big speech Friday in Jackson Hole, Wyo.?
     
    Last edited: Aug 27, 2010
  2. CrusaderFrank
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    CrusaderFrank Diamond Member

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    We need more government stimulus the same way the Titanic needed to hit a second iceberg to plug the hole caused by the first.
     
  3. johnrocks
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    johnrocks Silver Member

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    Krugman has a Nobel...reason I no longer take the Nobel seriously. His excuse is basically, government has not spent enough, I could have gotten a 5th grade drop out from the inner city to say and believe that crap.
     
  4. Dante
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    Dante On leave Supporting Member

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    your reasoning and your analysis is worthy of a used piece of toilet tissue.

    can't challenge a premise? why am I not surprised?
     
  5. Dante
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    Dante On leave Supporting Member

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    Excuse?

    reading and comprehension is not your strong suit, and your ability to engage in argument is most definitely not even in the running.

    note: the first two responses from USMB TROLLS are two classic examples of conservative nitwits who cannot argue without talking points
     
  6. CrusaderFrank
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    CrusaderFrank Diamond Member

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    As much as I miss The Far Side and Calvin and Hobbes, I'm glad Krugman is still publishing stuff that makes me laugh
     
  7. CrusaderFrank
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    CrusaderFrank Diamond Member

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    The economy will start to rebound once we take the gavel from Nancy's hand and halt the Progressive Jihad on free enterprise
     
  8. Dante
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    Dante On leave Supporting Member

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    go hijack another thread with your useless attacks.
     
  9. kwc57
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    kwc57 BOHICA Obama

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    I tend to ignore Krugman for two reasons. One, he is an ideologue. Two, he has never dirtied his hands. He has no practical knowledge or experience. It is all intellectual exercise and theory. If I'm having an operation, I want a doctor who has actually had his hands in someone's gut before, not a guy who has read all the textbooks. Krugman is the ultimate economic armchair quarterback.
     
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  10. johnrocks
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    johnrocks Silver Member

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    Your one to call others ditwits or trolls, attacking the poster is a great example of losing an argument, I knocked the idiot Krugman's theory, you in turn want to insult me and Frank.:clap2:


    His theory;using another analogy that I'm sure will fly over your head; is akin to a kid with a bicycle pump frantically pumping a tire with a gaping hole in it.

    Government intervention caused the problems, more government isn't going to solve it and btw, me and Frank are from two different schools of thought, I think supply side economics is as full of holes as demand side economics, Austrian is the way to go:cool:
     
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