Krugman's idiotic new book

[EdwardBaiamonte]

In sum, he simply says there is a lack of demand causing this depression.

The lack of demand, he says, came from the housing crisis and its direct ramifications

His solution is to create demand to fill the void with government spending. In particular he wants to hire teachers and other government loafers who have been laid off or not hired.

This is pure idiotic liberalism because:

1) it does not provide for healing the housing free market that liberals screwed up with Fanny Freddie Fed CRA, FHA, HUD etc etc

2) creating artificial demand in another area (education) merely creates a mal investment bubble exactly like the housing bubble that will burst and cause yet another recession.

 

[Trajan]

does he include all the statements hes made then ran from?

 

[Rozman]

What a brilliant man.
His solution to everything is spend more.
He will end up with another Nobel prize...
And why not...They give them out like candy on Halloween these days.

 

[Oddball]

I lost what tiny shred of respect I had for ferret face after 9/11™, when he invoked the thoroughly debunked broken window theory as a way to try and put a happy face on the tragedy.

Tarring and feathering would be too good for that dickweed.

 

[Listening]

Tarring and feathering would be too good for that dickweed.

I want a piece of that action !!!

Krugman is a political misfit who uses his limited understanding of real world econcomics (but because he is good at saying what the world elites want to hear...they think he knows what he is talking about) to bamboozle the lemmings on the left into thinking that more welfare dollars are good for the economy.

 

[EdwardBaiamonte]

Tarring and feathering would be too good for that dickweed.

I want a piece of that action !!!

Krugman is a political misfit who uses his limited understanding of real world econcomics (but because he is good at saying what the world elites want to hear...they think he knows what he is talking about) to bamboozle the lemmings on the left into thinking that more welfare dollars are good for the economy.

So true! Liberalism always boils down to more welfare in one form or another no matter how much we spend.

 

[Avorysuds]

Ron Paul destroys that fool.

[ame=http://www.youtube.com/watch?v=BcuAOdXD0Go]Ron Paul vs. Paul Krugman on The Fed & interview Bloomberg TV 4/30/12 - YouTube[/ame]

 

[Oddball]

Ferret face he doesn't say we're not red-lined with the debt yet, then says he doesn't know what that number would be in the same breath.

What an arrogant douchebag.

 

[Avorysuds]

Ferret face he doesn't say we're not red-lined with the debt yet, then says he doesn't know what that number would be in the same breath.

What an arrogant douchebag.

That’s why I call it faith based economics. When “they” get their way and do all of their spending, but things don’t pan out, their excuse/reason can be anything seeing as their solution was based purely on faith, that floating the economy until “something” happens in hopes it would "fix" the problem.

Compare that logic to Austrian economics where the belief is based off the foundation of the theory of evolution where the weaker (bad business’s) die off and the stronger (good business’s) flourish. Yes you get up and downs but that’s a good thing, it’s natural. You have to let the bad investments die off.

The FED was created to stop the up’s and downs, instead we got 1 Depression, who knows how many recessions and now a “Great Recession” or second Depression depending on what you want to call it and massive debt that bought us nothing…

 

[Euro]

In sum, he simply says there is a lack of demand causing this depression.

The lack of demand, he says, came from the housing crisis and its direct ramifications

His solution is to create demand to fill the void with government spending. In particular he wants to hire teachers and other government loafers who have been laid off or not hired.

The government have lost many jobs.

 

[itfitzme]

the housing free market that liberals screwed up with Fanny Freddie Fed CRA, FHA, HUD etc etc

"Although standards declined across the market, the largest and most powerful of the mortgage securitizers, the Government Sponsored Enterprises (GSEs), remained more successful than other mortgage securitizers at maintaining prudent underwriting."

Competition and Crisis in Mortgage Securitization by Michael Simkovic :: SSRN

"We explore a mostly undocumented but important dimension of the housing market crisis: the role played by real estate investors. Using unique credit-report data, we document large increases in the share of purchases, and subsequently delinquencies, by real estate investors. In states that experienced the largest housing booms and busts, at the peak of the market almost half of purchase mortgage originations were associated with investors. In part by apparently misreporting their intentions to occupy the property, investors took
on more leverage, contributing to higher rates of default."

"investors are less sensitive to the higher interest rates charged on non-prime loans than owner-occupants due to the shorter expected holding period. Buy and flip investors are more willing to pay higher rates in order to increase leverage"

www.newyorkfed.org/research/staff_reports/sr514.pdf

 

[uscitizen]

In sum, he simply says there is a lack of demand causing this depression.

The lack of demand, he says, came from the housing crisis and its direct ramifications

His solution is to create demand to fill the void with government spending. In particular he wants to hire teachers and other government loafers who have been laid off or not hired.

The government have lost many jobs.

Do you have a graph like that for 2000-2010?

 

[kiwiman127]

In sum, he simply says there is a lack of demand causing this depression.

The lack of demand, he says, came from the housing crisis and its direct ramifications

His solution is to create demand to fill the void with government spending. In particular he wants to hire teachers and other government loafers who have been laid off or not hired.

The government have lost many jobs.

Do you have a graph like that for 2000-2010?

Does this help? It looks like we had a major growth in government jobs from 1999-2009.

 

[percysunshine]

Krugman's idiotic new ...

Sorry. I am going to call 'foul ball' on that.

Using the words 'Krugman' and 'new' in the same sentence is just ...well... viciously un-grammatical.

 

[CrusaderFrank]

Krigman is not just wrong, he's stupid

 

[uscitizen]

Of course Krugman is an idiot just like most all of the other so called economic experts who did not forsee the recession coming and see also that it would be followed by a very long term economic downturn.

 

[itfitzme]

I lost what tiny shred of respect I had for ferret face after 9/11™, when he invoked the thoroughly debunked broken window theory as a way to try and put a happy face on the tragedy.

Tarring and feathering would be too good for that dickweed.

What "broken window theory" has been debunked?

Then there is the "broken window theory". The broken windows theory is a criminological theory of the norm setting and signaling effect of urban disorder and vandalism on additional crime and anti-social behavior. The theory states that monitoring and maintaining urban environments in a well-ordered condition may stop further vandalism and escalation into more serious crime.

There is the "broken window fallacy". It points out that disasters can be followed by an increase in productivity and output. It uses breaking windows as an analogy to show that, while repairing all the broken windows would be an increase in activity and output, it wouldn't be an overall net gain because of the net loss from breaking the windows in the first place.

What does it have to do with Krugman's book? I'm not seeing how the broken window theory fits.

And, can you provide some reference as to how the "broken window theory" was debunked?

 

[Procrustes Stretched]

In sum, he simply says ...

I'll put Krugman's Nobel Prize reputation up against your webtard brilliance any day

 

[Procrustes Stretched]

I lost what tiny shred of respect I had for ferret face after 9/11™, when he invoked the thoroughly debunked broken window theory as a way to try and put a happy face on the tragedy.

Tarring and feathering would be too good for that dickweed.

Krugman is a brilliant economist and you Oddball Dude, are a blowhard on the internet

 

[itfitzme]

Truthmatters = the definition of hypocrite

Well when you are so partisan you define intelligence by party affliation then you would think that.

Smart people have a left leaning bias.

There is nothing inconsistent with that, nor hypocritical.

In the first, he is including right, left, top, and bottom, including Republicans, Libertarians, Democrats, Independents, liberals and conservatives. He is saying ANYONE that defines intelligence by party affiliation is....

You should have, though, included the comment he was referring to. Obviously, you have a behavior of taking things out of context.

In the second, he is saying that people who are intelligent tend to be left leaning.

The first, he is refering using party affiliation as proof of intelligence. In the second, he is refering to intelligence causing the "left lean".

I want to say, "it's a subtle difference", but it's not. It is pretty obvious.