Coming Third Great Depression PAUL KRUGMAN New York Times

[Oddball]

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.

I seriously doubt that...You need to have a total absence of any conscience to be a eugenicist, like he was.

 

[B. Kidd]

Krugman generally attributes the 3rd Depression to failed policies.
He might be understating the cause.
I'm beginning to believe it will be due to a failed Democracy.

 

[Toro]

Did anyone actually read the article? He is saying that this depressIon will be caused by spending cutbacks.

 

[editec]

Krugman generally attributes the 3rd Depression to failed policies.
He might be understating the cause.
I'm beginning to believe it will be due to a failed Democracy.

Spot on!

Our democracy is a joke.

This Republic is an democratically elected oligarchy.

Government is a tool that oligarchy uses to stay in power.

The SCOTUS is now little more than tool to make the steady erosion of the democractic aspects of this sham democratic republic technically legal.

 

[Oddball]

Did anyone actually read the article? He is saying that this depressIon will be caused by spending cutbacks.

Yeah, and Krugman is still an idiot.

America drastically pared back spending after WWII and there was no "Great Depression of '46".

 

[Neubarth]

Did anyone actually read the article? He is saying that this depressIon will be caused by spending cutbacks.

Yeah, and Krugman is still an idiot.

America drastically pared back spending after WWII and there was no "Great Depression of '46".

There was a recession.

 

[Neubarth]

Krugman generally attributes the 3rd Depression to failed policies.
He might be understating the cause.
I'm beginning to believe it will be due to a failed Democracy.

Our form of Democracy has not failed yet, but we do need to take drastic measures to eliminate all of the greed and graft that oils the machinery of our government. There is still time to try all of these politicians for treason and line them up before firing squads. Once we clean house we will make it known that anybody soliciting or offering a bribe will be shot by military firing squad. We need to snuff out corruption, totally.

 

[Oddball]

Yes, there was...Reorganization of an economy geared toward capital production in the wake of a near-total gubmint takeover, which was directed toward killing people and destroying things, doesn't happen overnight.

 

[Oddball]

Did anyone actually read the article? He is saying that this depressIon will be caused by spending cutbacks.

Nobel Prize-winning economist Paul Krugman says the U.S. is in the "early stages of a third Great Depression." If he's right, it's only because American policymakers have been following his advice.

Hell knows no wrath like that of an economist scorned - especially one on the left of the political spectrum. Case in point: New York Times columnist and sometime economist Paul Krugman. The world is going to hell in a handbasket, Krugman suggested this week, thanks in large part to its refusal to follow his advice to the letter.

Actually, he has it exactly backward. Krugman was among those who encouraged the new Obama administration and the Democratic Congress to spend massive amounts of money early on in a kind of Keynesian frenzy to shock the moribund economy back to life.

It didn't work. With a stimulus - a deficit, that is - of nearly 11% of GDP, our economy is barely growing, while unemployment remains shockingly close to 10% of the adult working population.

This even prompted our nation's vice president, Joe Biden, to admit last weekend: "There's no possibility to restore 8 million jobs lost in the Great Recession."

RealClearMarkets - Paul Krugman's Depression

 

[Old Rocks]

Did anyone actually read the article? He is saying that this depressIon will be caused by spending cutbacks.

Yeah, and Krugman is still an idiot.

America drastically pared back spending after WWII and there was no "Great Depression of '46".

Now what was the income tax rate after WW2? Ever hear of the GI Bill? Yes, we cut back on spending on military, but we spent a great deal on the people that were responsible for our victory in that war. And we gained greatly as a nation for spending the money on those people.

So, sanity says increase taxes now, spend money on things that will stimulate future economic development here in the states, penelize companies that outsource jobs, and use tariffs on nations whose work and evironmental rules are essentially non-existant.

Were we now to cease operations in Iraq and Afghanistan, use that money here for education, not just college, but also training the neccessary technicians for industry, we would be far better off.

Krugman has a far better record on economics than the dingleberries pushing tax cuts for the very wealthy and the outsourcing of all of our jobs.

 

[Oddball]

blablablablabla...

What was the federal consumption of GDP in '45 versus '46?

Go ahead....Look it up and come back when you have something intelligent to say on the topic.

 

[elvis]

Did anyone actually read the article? He is saying that this depressIon will be caused by spending cutbacks.

He also said at the time the stimulus was passed that the package should have been at least twice as large.

 

[FireFly]

I love the print, barrow & spend our way out of this depression plan. I bought $50,000 worth of gold the day Obama got elected for $718 per troy oz. I knew his inflated ego would soon have him trying to re-inflate the bubble. I love democrats, they are so predictable.