The death of a FAIRYTALE

[Truthmatters]

http://www.nytimes.com/2012/04/27/opinion/krugman-death-of-a-fairy-tale.html?_r=1


Critics warned from the beginning that austerity in the face of depression would only make that depression worse. But the “austerians” insisted that the reverse would happen. Why? Confidence! “Confidence-inspiring policies will foster and not hamper economic recovery,” declared Jean-Claude Trichet, the former president of the European Central Bank — a claim echoed by Republicans in Congress here. Or as I put it way back when, the idea was that the confidence fairy would come in and reward policy makers for their fiscal virtue.

The good news is that many influential people are finally admitting that the confidence fairy was a myth. The bad news is that despite this admission there seems to be little prospect of a near-term course change either in Europe or here in America, where we never fully embraced the doctrine, but have, nonetheless, had de facto austerity in the form of huge spending and employment cuts at the state and local level.

 

[Truthmatters]

All around Europe’s periphery, from Spain to Latvia, austerity policies have produced Depression-level slumps and Depression-level unemployment; the confidence fairy is nowhere to be seen, not even in Britain, whose turn to austerity two years ago was greeted with loud hosannas by policy elites on both sides of the Atlantic.


http://www.nytimes.com/2012/04/27/opinion/krugman-death-of-a-fairy-tale.html?_r=1

 

[Truthmatters]

Notably, the long-suffering (literally) Irish have been hailed as a success story not once but twice, in early 2010 and again in the fall of 2011. Each time the supposed success turned out to be a mirage; three years into its austerity program, Ireland has yet to show any sign of real recovery from a slump that has driven the unemployment rate to almost 15 percent.

However, something has changed in the past few weeks. Several events — the collapse of the Dutch government over proposed austerity measures, the strong showing of the vaguely anti-austerity François Hollande in the first round of France’s presidential election, and an economic report showing that Britain is doing worse in the current slump than it did in the 1930s — seem to have finally broken through the wall of denial. Suddenly, everyone is admitting that austerity isn’t working.


http://www.nytimes.com/2012/04/27/opinion/krugman-death-of-a-fairy-tale.html?_r=1

 

[Truthmatters]

Heres the deal cons.

You gig is up.

There is just too much VERY recent evidence your shit stinks.

You economic plans dont work.

Now tell us all why you still back them in the face of undeniable evidence?

Just try getting Mitt elelcted without facing these facts.

You willl fail unless you face the facts.

If you dont face the facts you DESERVE to fail.

 

[blastoff]

Reminds me of the fairytale about Dims never cheating at the polls, only not as funny.

 

[Truthmatters]

How can you win an election with OBVIOULY failed ideas?

 

[Truthmatters]

You will not be able to ignore these facts in this election.


It will kill your party dead

 

[AmericanFirst]

How can you win an election with OBVIOULY failed ideas?

That is why dimwits cheat in elections, their ideas suck!!!

 

[whitehall]

Pretty ironic that the NY Times is working on an austerity budget to save it's sorry liberal ass from bankruptcy while it promotes lavish government spending.

 

[syrenn]

Yes, i am very sure having the fairy tail of a life of entitlements and everything provided to you for free by the government..... was quite a shock....having it vanish into thin air.

Its very sad when the fairy tail is gone and real life stares you in the face.

 

[Truthmatters]

Your ideas have failed you disgruntled brained fool

 

[Truthmatters]

None of you cons will face these facts right now.

You sure will in the debates.

 

[syrenn]

Your ideas have failed you disgruntled brained fool

Actually it would seem as if your ideas a perfect government have failed you disgruntled brain dead idiot.

 

[syrenn]

None of you cons will face these facts right now.

You sure will in the debates.

Poor labor party leaches.... sucks to have to pay for the entitlements doesn't it?

 

[Truthmatters]

and there is more evidence of the rights ******* stupidity.

The people realise your ideas are trash so you attack the people as if votes dont matter.

You can not cheat enough to win this time.

 

[Mac1958]

.

Not exactly doing the happy dance over the "ideas" of EITHER side.

.

 

[Truthmatters]

Romeny is going to take it in the ass during the debates for nbacking these failed ideas.

 

[Truthmatters]

What is your precious Romeny going to say about this in the debates?


he is going to have to deny facts right in front of all the voters.


Or he is going to have to bail on your failed ideas.

 

[California Girl]

Interesting that Krugman totally ignores the horrifying £5trillion public sector pensions shortfall that the UK is also facing. They have no better option than austerity. That pension blackhole is going to cost each family in the UK £180,000. Given that the average income in the UK is around £25/30,000..... that's a financial burden that might break millions of those people.

Krugman would do well to consider ALL the facts, not just the ones that support his preconceived opinions before putting those opinions out for the hacks to follow like ******* morons.

To put that £5 trillion shortfall into perspective, right now, the total national debt of the UK is about £1.1 trillion. That's for their entire debt. And they're gonna have to add another £5 trillion to it - just to keep their public sector pension commitment. That's where the left will lead the US.

Stupid ******* leftists.

 

[Truthmatters]

getting some revenues going would help instead of trashing the economy more