Krugman: U.S. Needs Death Panels, Sales Taxes.

[Goo For You]

Post more Krugman links; I think this one's been milked out of all it's worth.

[Avery]

Post more Krugman links; I think this one's been milked out of all it's worth.

Kick The Can

http://www.nytimes.com/2013/02/08/op...LO_MST_FB&_r=0

[I invented that]

question: what did the keynesian say about the failed trillion dollar stimulus program?

answer: it was underfunded.

[RiotGrip]

question: what did the keynesian say about the failed trillion dollar stimulus program?

answer: it was underfunded.

Translation=I can't hang with Goo for you to save my life and I don't have it in me to learn economics.

[I invented that]

Translation=I can't hang with Goo for you to save my life and I don't have it in me to learn economics.

You don't get it or you don't think it's funny?

[Goo For You]

That joke would be funnier if austerity and tight money hadn't produced the Great Depression.

[Goo For You]

Kick The Can

http://www.nytimes.com/2013/02/08/op...LO_MST_FB&_r=0

Here's Krugman at his best:

"Start with a basic point: Slashing government spending destroys jobs and causes the economy to shrink. This really isn’t a debatable proposition at this point."

The best part about being a great economist is that you can make statements like this, and your detractors have nothing on you.

For balance, here's Krugman at his worst:

"By talking about job losses from defense cuts, the G.O.P. has already conceded the principle of the thing."

So the right-wingers have condeded the principle of Keynesianism. Good point.

"Today, by contrast, we’re still living in the aftermath of the worst financial crisis since the Great Depression, and the Fed, in its effort to fight the slump, has already cut interest rates as far as it can — basically to zero. So the Fed can’t blunt the job-destroying effects of spending cuts, which would hit with full force."

So you've conceded the principle of Monetarism (and argued elsewhere the Zero Lower Bound doesn't matter), but insist that unconventional monetary policy (QE4, negative Interest On Reserves, asset purchases) can't do the trick?




EDIT: The last point is of course a relatively minor quibble considering the importance of getting right-wingers to acknowledge the other ones.

[stripes]

krugman is a dopey idiot book seller. wgaf what he says.

[RiotGrip]

You don't get it or you don't think it's funny?

I do get the joke, the real humor is you continuously trying to deflect from your epic fail in this thread.

[I invented that]

That joke would be funnier if austerity and tight money hadn't produced the Great Depression.

so, how much money will it take? by tight money do you mean the artificially low interest rates? when did this austerity happen?

[Goo For You]

so, how much money will it take?

So that point went over your head as well? Color me surprised.




EDIT: Here's the thing. You can't mock a policy and expect people to think you're funny, when not implementing that policy produced one of the biggest catastrophies in modern history.

[Goo For You]

krugman is a dopey idiot book seller. wgaf what he says.

If you want to learn to understand what he's saying, you're always welcome here.

[RiotGrip]

So that point went over your head as well? Color me surprised.




EDIT: Here's the thing. You can't mock a policy and expect people to think you're funny, when not implementing that policy produced one of the biggest catastrophies in modern history.

I think Iit needs to post some of the scholarly articles from credible economists that assert the economy would be better now if there was no stimulus. Then he could prove his point

[Goo For You]

by tight money do you mean the artificially low interest rates? when did this austerity happen?

Lucky I catched your edit. Let's start with you defining artificially low.




EDIT: I want an answer to the question what makes a certain interest rate artificial. How do you define the natural rate?

[Goo For You]

I think Iit needs to post some of the scholarly articles from credible economists that assert the economy would be better now if there was no stimulus. Then he could prove his point

At this point I'd be delighted if he could even name one such (real) economist.

[I invented that]

when not implementing that policy produced one of the biggest catastrophies in modern history.

the policy was implemented, you contend it just wasn't enough. was it a policy failure or not enough money?

[Goo For You]

the policy was implemented, you contend it just wasn't enough. was it a policy failure or not enough money?

You need to be more specific. Which policy of which president are you talking about?

[I invented that]

You need to be more specific. Which policy of which president are you talking about?

the trillion dollar stimulus plan

[Goo For You]

the trillion dollar stimulus plan

LMAO we're talking about the Great Depression!!!

[I invented that]

Lucky I catched your edit. Let's start with you defining artificially low.




EDIT: I want an answer to the question what makes a certain interest rate artificial. How do you define the natural rate?

The Federal Reserve took extraordinary actions in response to the financial crisis to help stabilize the U.S. economy and financial system. These actions included reducing the level of short-term interest rates to near zero. In addition, to reduce longer-term interest rates and thus provide further support for the U.S. economy, the Federal Reserve has purchased large quantities of longer-term Treasury securities and longer-term securities issued or guaranteed by government-sponsored agencies such as Fannie Mae or Freddie Mac.