Krugman eviscerates Austrian school, hack, cranks

[Toro]

And speaking of "hacks" and "cranks" ...


Paul Krugman Concludes: No Such Thing As ‘A Reasonable Republican’

Yes, there are "no reasonable Republicans." None at all. Zero. Zip. Nada.

 

[Dot Com]

STOP DEFLECTING!!!

As to the last post, Waxman(D) was/is right- today's Republicans are basically terrorists holding the American people hostage in order to get concessions (tax dollar redistribution of wealth) to their defense contractor paymasters

 

[pinqy]

Clever manipulation of the CPI formula has masked the rise in inflation that everyone else (including Janet Yellen) knows is already happening.

You know, I've never heard anybody who claimed that the CPI was manipulated who actually understood anything about it. All the claims about manipulation I've ever heard are based on misunderstandings, false claims, and simple assertions.

Of course the CPI isn't perfect and it does have many issues and problems. But it's certainly not "manipulated."

 

[CrusaderFrank]

STOP DEFLECTING!!!

As to the last post, Waxman(D) was/is right- today's Republicans are basically terrorists holding the American people hostage in order to get concessions (tax dollar redistribution of wealth) to their defense contractor paymasters

^ why progressive economies come with a 100% fail guarantee

 

[Dot Com]

"conservative economists". lol. An oxymoron. You people need to stick to what (you THINK ) you're good at the culture wars :yawn:

 

[Dad2three]

Its like shooting fish in a barrel for him:

Economics and Politics by Paul Krugman - The Conscience of a Liberal - NYTimes.com

James Pethokoukis and Ramesh Ponnuru are frustrated. They’ve been trying to convert Republicans to market monetarism, but the right’s favorite intellectuals keep turning to cranks peddling conspiracy theories about inflation. Three years ago it was Niall Ferguson, citing a bogus source. Ferguson was widely ridiculed, by moderate conservatives as well as liberals — but here comes Amity Shlaes, making the same argument and citing the same source. The “reform conservatives” have made no headway at all.

discuss Austrian failure(s)...

Another Day, Another Slander of Krugman



"First, you leave out the ellipsis: 'as Paul McCulley of Pimco put it,' so Krugman was quoting someone else.

Second, the rest of the quote makes it apparent that Krugman was using a bit of snark to make fun of Greenspan's too rosy testimony:"



Krugman needs to know enough to avoid snarky comments that could be taken seriously ten years later!

Of course, he was warning about the housing bubble long before most others, e.g., in 2006

Another Day, Another Slander of Krugman

 

[Dad2three]

Weird, NOT a right winger fuktard, on the other post you claimed it was 60 minutes? lol

Krugman needs to know enough to avoid snarky comments that could be taken seriously ten years later!

Of course, he was warning about the housing bubble long before most others, e.g., in 2006


Another Day, Another Slander of Krugman

Krugman owns every Rightie in this thread & it burns them up because they know it

Speaking of burns

[youtube]Fexz8Ij-OBQ[/youtube]

Cool, NOW give me ANY poll from ANY UHC system EVER that wants US style H/C , lol. Fkg retard

 

[CrusaderFrank]

"First, the driving force behind the economic slowdown has been a plunge in business investment. Now, all of a sudden, we need some new office buildings." Krugman 3 days after 9/11

Reckonings - After The Horror - NYTimes.com

 

[Dad2three]

How did Paul Krugman Get It So Wrong?

Like YOU, he's a fukng moron

"The centerpiece of our crash was not the relatively free stock or real estate markets, it was the highly regulated commercial banks."

lol

the financial markets freeze in the fall of 2008, occurred predominantly among those parts of the financial system that were least regulated, or where regulations existed but were largely unenforced.

..As the FCIC staff reports released so far in the run up to the final report have demonstrated, the primary fuel of the financial crisis was a hands-off approach to regulation. This ideologically driven lack of regulatory oversight allowed tremendous growth of the "shadow banking system," a largely unregulated web of complex financial transactions that essentially served the same functions as the existing banking system—attracting short-term funds from those seeking safe, liquid investments and using these to finance long-term loans, particularly residential mortgages—but without government oversight to ensure that these activities were being done safely and soundly.

As the FCIC staff reports demonstrate fairly conclusively, it was the shadow banking system’s unregulated private securitization of mortgages that caused the financial crisis, not affordable housing policies.


Politics Most Blatant | Center for American Progress



Examining the big lie: How the facts of the economic crisis stack up

•The boom and bust was global. Proponents of the Big Lie ignore the worldwide nature of the housing boom and bust.


Nonbank mortgage underwriting exploded from 2001 to 2007, along with the private label securitization market, which eclipsed Fannie and Freddie during the boom.



•Private lenders not subject to congressional regulations collapsed lending standards.


Examining the big lie: How the facts of the economic crisis stack up | The Big Picture

NOT a right winger? lol

 

[Dot Com]

Thats our Ragnar.

Seriously, you righties need to come up w/ some FACTS as opposed to unsubstantiated drive-by, hit pieces

 

[Dot Com]

How did Paul Krugman Get It So Wrong?

Like YOU, he's a fukng moron

"The centerpiece of our crash was not the relatively free stock or real estate markets, it was the highly regulated commercial banks."

lol

the financial markets freeze in the fall of 2008, occurred predominantly among those parts of the financial system that were least regulated, or where regulations existed but were largely unenforced.

..As the FCIC staff reports released so far in the run up to the final report have demonstrated, the primary fuel of the financial crisis was a hands-off approach to regulation. This ideologically driven lack of regulatory oversight allowed tremendous growth of the "shadow banking system," a largely unregulated web of complex financial transactions that essentially served the same functions as the existing banking system—attracting short-term funds from those seeking safe, liquid investments and using these to finance long-term loans, particularly residential mortgages—but without government oversight to ensure that these activities were being done safely and soundly.

As the FCIC staff reports demonstrate fairly conclusively, it was the shadow banking system’s unregulated private securitization of mortgages that caused the financial crisis, not affordable housing policies.


Politics Most Blatant | Center for American Progress



Examining the big lie: How the facts of the economic crisis stack up

•The boom and bust was global. Proponents of the Big Lie ignore the worldwide nature of the housing boom and bust.


Nonbank mortgage underwriting exploded from 2001 to 2007, along with the private label securitization market, which eclipsed Fannie and Freddie during the boom.



•Private lenders not subject to congressional regulations collapsed lending standards.


Examining the big lie: How the facts of the economic crisis stack up | The Big Picture

NOT a right winger? lol

^ that

Repubs don't police wall St. & put an "out to lunch" sign on SEC, Dept's of Labor, OSHA, & EPA every time they're elected. Hopefully, their days of getting Presidents elected is over.

Fannie Mae and Freddie Mac were victims, not culprits

Start with the most basic fact of all: virtually none of the $1.5 trillion of cratering subprime mortgages were backed by Fannie or Freddie. That’s right — most subprime mortgages did not meet Fannie or Freddie’s strict lending standards. All those no money down, no interest for a year, low teaser rate loans? All the loans made without checking a borrower’s income or employment history? All made in the private sector, without any support from Fannie and Freddie.

FactWatch: Fannie and Freddie were followers, not leaders, in mortgage frenzy

GOP.gov, the official website for Republicans in the House of Representatives, says flatly: “Fannie Mae and Freddie Mac were the main cause of the nation's current financial turmoil.” Many critics — including Republican appointees to the federal Financial Crisis Inquiry Commission — blame the two government-chartered mortgage underwriters for pushing lenders to make riskier loans and leading the way into the financial crash.

There’s a problem with this narrative: The numbers tell a different story.

The evidence indicates Fannie and Freddie contributed to the mortgage meltdown, but they played a secondary role to Wall Street. Wall Street firms and the mortgage lenders they bankrolled led the growth of the market for subprime loans and other risky mortgages.

Facts are pesky things rw'ers
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.

 

[Toro]

How did Paul Krugman Get It So Wrong?

Like YOU, he's a fukng moron

"The centerpiece of our crash was not the relatively free stock or real estate markets, it was the highly regulated commercial banks."

lol

the financial markets freeze in the fall of 2008, occurred predominantly among those parts of the financial system that were least regulated, or where regulations existed but were largely unenforced.

..As the FCIC staff reports released so far in the run up to the final report have demonstrated, the primary fuel of the financial crisis was a hands-off approach to regulation. This ideologically driven lack of regulatory oversight allowed tremendous growth of the "shadow banking system," a largely unregulated web of complex financial transactions that essentially served the same functions as the existing banking system—attracting short-term funds from those seeking safe, liquid investments and using these to finance long-term loans, particularly residential mortgages—but without government oversight to ensure that these activities were being done safely and soundly.

As the FCIC staff reports demonstrate fairly conclusively, it was the shadow banking system’s unregulated private securitization of mortgages that caused the financial crisis, not affordable housing policies.


Politics Most Blatant | Center for American Progress



Examining the big lie: How the facts of the economic crisis stack up

•The boom and bust was global. Proponents of the Big Lie ignore the worldwide nature of the housing boom and bust.


Nonbank mortgage underwriting exploded from 2001 to 2007, along with the private label securitization market, which eclipsed Fannie and Freddie during the boom.



•Private lenders not subject to congressional regulations collapsed lending standards.


Examining the big lie: How the facts of the economic crisis stack up | The Big Picture

NOT a right winger? lol

Derp2three

I agree with many of Krugman's comments. I do believe that modern economics failed massively during the financial crisis.

However, Cochrane rightly called Krugman out for acting like a douchebag when he wrote his article, like Krugman often does in his blog, including the OP.

 

[Dot Com]

I won't let this go until the rw'ers, who posted in this thread, admit their misattributed & out of context lies relating to the Nobel Prize of Economics winner

 

[Ragnar]

Watch keynesian economic fail again and again and again. Spain and Japan as noted above, Greece in partucular and here just like everywhere else. All the Nobel Prizes on Earth can't fix stupid. (How do you think people in Libya feel about President Obama's Peace prize? Or anyone in half a dozen countries where drones have been bombing their children for the last half decade?)

 

[EdwardBaiamonte]

.[/B] All those no money down, no interest for a year, low teaser rate loans? All the loans made without checking a borrower’s income or employment history? All made in the private sector, without any support from Fannie and Freddie.

of course thats 100% stupid or a big lie. Fanny/Freddie had big advantage over private sector because they had govt support and lower rates. So, they took many of the good customers and forced the other to take the bad customers. Nevertheless Fan Fred bought tons of bad mortgages too! You are little better than a liar.



For instance, as George Mason University economist Russ Roberts explains in his paper “Gambling with Other People’s Money”:

Fannie and Freddie bought 25.2% of the record $272.81 billion in subprime MBS [mortgage-backed securities] sold in the first half of 2006, according to Inside Mortgage Finance Publications, a Bethesda, MD-based publisher that covers the home loan industry.

In 2005, Fannie and Freddie purchased 35.3% of all subprime MBS, the publication estimated. The year before, the two purchased almost 44% of all subprime MBS sold.

In addition, lawmakers in both parties enacted policies directed at increasing home ownership rates, resulting in lower mortgage underwriting standards for Fannie and Freddie. Roberts notes that from 2000 on, Fannie and Freddie bought loans with low FICO scores, loans with very low down payments, and loans with little or no documentation

 

[Dot Com]

^ says the guy w/ a quote from a fictional novel written by someone who Allen Greenspan paled around with

 

[Ragnar]

^ says the guy w/ a quote from a fictional novel written by someone who Allen Greenspan paled around with

I also like Star Wars.

 

[CrusaderFrank]

How did Paul Krugman Get It So Wrong?

Like YOU, he's a fukng moron

"The centerpiece of our crash was not the relatively free stock or real estate markets, it was the highly regulated commercial banks."

lol

the financial markets freeze in the fall of 2008, occurred predominantly among those parts of the financial system that were least regulated, or where regulations existed but were largely unenforced.

..As the FCIC staff reports released so far in the run up to the final report have demonstrated, the primary fuel of the financial crisis was a hands-off approach to regulation. This ideologically driven lack of regulatory oversight allowed tremendous growth of the "shadow banking system," a largely unregulated web of complex financial transactions that essentially served the same functions as the existing banking system—attracting short-term funds from those seeking safe, liquid investments and using these to finance long-term loans, particularly residential mortgages—but without government oversight to ensure that these activities were being done safely and soundly.

As the FCIC staff reports demonstrate fairly conclusively, it was the shadow banking system’s unregulated private securitization of mortgages that caused the financial crisis, not affordable housing policies.


Politics Most Blatant | Center for American Progress



Examining the big lie: How the facts of the economic crisis stack up

•The boom and bust was global. Proponents of the Big Lie ignore the worldwide nature of the housing boom and bust.


Nonbank mortgage underwriting exploded from 2001 to 2007, along with the private label securitization market, which eclipsed Fannie and Freddie during the boom.



•Private lenders not subject to congressional regulations collapsed lending standards.


Examining the big lie: How the facts of the economic crisis stack up | The Big Picture

NOT a right winger? lol

Fannie and Freddie "No Income No Asset" Standards were "unregulated" private lender standards?

LOL

You really are as dumb as Krugman

 

[CrusaderFrank]

 

[jwoodie]

I won't let this go until the rw'ers, who posted in this thread, admit their misattributed & out of context lies relating to the Nobel Prize of Economics winner

Speaking of Nobel Prize winners...