Open Thread
By Susie Madrak Sunday Mar 22, 2009 7:30pmSince it's a point regularly raised in the comments, I thought everyone would enjoy this song asking: Paul Krugman, why aren't you in the administration?
(Personally, I think he's more effective on the outside - but the song is funny!) H/t to All Spin Zone:
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Love the "Blah, blah, blah" chorus.
This is awesome.
I thought Obama once offered Krugman a job in in his administration after Krugman once again succinctly criticized America's economic policy. Krugman's been prophetically right on for years.
Hey Obama, where the hell are ya, blah, blah, blah.
Krugman implied worst was over last May...
Sun Mar 22, 2009 at 09:25:12 PM PDT
A lot of people here admire Paul Krugman. Yes, there is Stiglitz, Kuttner, etc., but no one gets cited more than Krugman. Yes, I understand, he is one of a relatively few high profile people with strong economics credentials and a bully pulpit on the left. I have been reading his blog for about a year now- off and on- which means I miss some of his posts.
But last May I did see this article, in which Krugman praises Ben Bernanke and the TAF:
"Cross your fingers, knock on wood: it’s possible, though by no means certain, that the worst of the financial crisis is over. That’s the good news."
What you fail to mention is that economist's tend to think like bean counters and although this statement was made it doesn't mean that the issues that effect everyday people like yourself perhaps and others including myself dont go on in spite of the crisis coming to an end. That said Krugman didn't say the recession had ended he only said that the worst of the financial crisis is over. That statement in and of itself is probably true. However with the worst being as bad as it was it only stands to reason that something less worse or slightly better isn't going to be very good either. Krugman goes on to give us a very important warning in the rest of his article. So please read the whole thing here.
http://www.azstarnet.com/sn/printDS/237553
Right you are, Krugman did not see it coming in his blog on October 26th 2008
“But I never anticipated anything like what’s happening now.”
http://krugman.blogs.nytimes.com/2008/10/26/t...
A lot of posters here argue seeing it isn't the same as having answers for it. People such as Jim Rogers, Marc Faber, Peter Schiff, Robert Kiyosaki and Ron Paul all saw it coming years ago.
They do in fact have the solutions but they are not popular because it requires this nation taking the medicine it needs. They don't want to accept the crash is the solution to years of trade imbalances and deficit spending.
Instead of listening to what these people are saying, they would rather hear we can deficit spend our way out of this mess, basically doing of what has gotten us into trouble. That by resting our coats on Krugman's Nobel prize for trade patterns (not economic crashes) we can somehow punch through economic problems if we just spend enough money.
They give it nifty names, infrastructure investment, economic recovery, stimulus. None ask where is the money going to come from or how will we repay it. None seem to grasp the problem is and has been for years foreign debt. Deficit spending might be a temporary solution for a nation that isn't $11+ trillion in the hole, but in our case it's driving the final nails in our coffin.
If people want to hear real solutions, they are here:
Why the Meltdown Should Have Surprised No One
http://www.youtube.com/watch?v=EgMclXX5msc
Jim Rogers (another legendary investor) on where global opportunities will be.
http://link.brightcove.com/services/link/bcpi...
wow. that was good.
That was great!
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Free Money In The USA
Paul Hipp
http://www.youtube.com/watch?v=LeWgpoCwc9Y
Best of the net; and of course C&L
If you watch closely you can see little blurbs about Greenspan's bullshit.
YES.
Look at 1:24 for example.
Lois applies for job with Fux News. Sign at front of building says:
"Fox News. Watch or Be Watched."
Wonder if Bilge-O came up with it?
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Walking into the studio kitchen, the tour guide offers Brian a cold beverage. "But I don't see a refrigerator." "Oh, we just use Ann Coulter"...
Was pretty funny. Fred Savage.lol
Where do they keep the beverage, up his/her butt?
Crack 'em open and a light comes on.
Probably should have been a blacklight...
http://www.nytimes.com/2009/03/22/weekinrevie...
Human energy consumption isn't for the birds. Heart-disease risks are higher at a younger age for African-Americans. The TSA wants you to give out even more personal info when boarding a flight. Repugs don't mind if AIG keeps its bonuses. Anti-war protests and anti-AIG protests. Nursing homes are becoming drop-offs for the mentally ill. An ex-Bushie admits many Gitmo detainees are innocent. Will immigrants still have the chance to take English language classes? Obama's toxic asset plan. The GOP plays Chicken Little on domestic spending. The only profitable work still available for women is the adult entertainment industry. Michigan police kill a teen with a taser.
"In a related move, the TSA is bringing back "gate checks," the practice of pulling aside passengers for searches while they wait at airport gates to board planes even after they have already passed through security checkpoints"
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In other words, no more trips to the restroom following clearing the checkpoint to untape the dope from your nutsack; gotta wait 'til on the plane. (Not that I've ever done anything like that, of course... :)
)
that swings a little to the left or just report the real news. Washington Post is not one of them.
http://www.consortiumnews.com/2009/032209.html
/
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Who'da thunk it...
... DFH were right!
http://www.youtube.com/watch?v=iKEZoY-TMG4
.
Thanks.
Israel's American Chattel
By PAUL CRAIG ROBERTS
“I do not believe the National Intelligence Council could function effectively while its chair was under constant attack by unscrupulous people with a passionate attachment to the views of a political faction in a foreign country.
“The tactics of the Israel Lobby plumb the depths of dishonor and indecency and include character assassination, selective misquotation, the willful distortion of the record, the fabrication of falsehoods, and an utter disregard for the truth. The aim of this Lobby is control of the policy process through the exercise of a veto over the appointment of people who dispute the wisdom of its views, the substitution of political correctness for analysis, and the exclusion of any and all options for decision by Americans and our government other than those that it favors.
“There is a special irony in having been accused of improper regard for the opinions of foreign governments and societies by a group so clearly intent on enforcing adherence to the policies of a foreign government – in this case, the government of Israel. I believe that the inability of the American public to discuss, or the government to consider, any option for US policies in the Middle East opposed by the ruling faction in Israeli politics has allowed that faction to adopt and sustain policies that ultimately threaten the existence of the state of Israel. It is not permitted for anyone in the United States to say so. This is not just a tragedy for Israelis and their neighbors in the Middle East; it is doing widening damage to the national security of the United States.”
-- Ambassador Charles Freeman on declining his appointment as Chairman of the National Intelligence Council, Wall Street Journal, March 10, 2009
how quickly Dennis Ross was approved, didn't ya?
Look back at Krugman's opinion pieces over the years (go back to even when he was on Enron's board) and guess what? He has a habit of disliking everyone else's ideas and other economists blast him for seeming to have a chip on his shoulder.
And how effective was he at helping to convince other politicians that the gov't needs to spend on a big stim bill? Not very. He was largely ignored by the media.
He is not effective because he exhibits the typical traits of a very, very smart intelligent academia professor: too opinioniated, tone-deaf to politics and not good at debating outside of single-direction bloggin or opinion pieces.
Cajones are not inherent to people with brains. Especially those who are so right on that they are intimidated beyond belief.
I suspect Krugman of having a huge brain and simultaneously being one who hates conflict.
I might be wrong.
It may very well be that when fellow economists say he "has a chip on his shoulder" it may very well be because he likes to throw crap bombs at other people's ideas but does not work together on solutions. It is that political, compromising ability that he may very well lack.
and Nobel Prize. You gotta love it!
Yes - I like Krugman on the outside as well.
Go throw virtual tomatoes at AIG via Moveon.org.
They wanted 6.4 million tomatoes and are well over 18 million right now. Not completely satisfying - but I like the big number and would love to see it bigger.
http://www.moveon.org/tomato/?id=15777-347142...
*
on streets of LA.
http://www.cbsnews.com/stories/2009/03/22/60m...
Here's another interesting Homeless person - and his pets, a dog, cat and rat.
*
I'm sure we'll all be meeting lots of new, interesting people as we endure the bush Depression, won't we?
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Coming Soon: Declassified Bush-Era Torture Memos
By Michael Isikoff and Mark Hosenball
http://www.newsweek.com/id/190362
...we surely wouldn't want to "embarrass" the CIA..!!!?? Not just torturers in this lastest stupid war, but responsible for the deaths of millions through the decades. Name should be changed to the CDA...
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The Real AIG Scandal, Continued!
The transfer of $12.9 billion from AIG to Goldman looks fishier and fishier.
By Eliot Spitzer
http://www.slate.com/id/2214407/?from=rss
Just wondering what people think about NASA. Should it be funded as it says it needs to be or does it go on the chopping block.
Personally, I think that we going to lose our edge of being at the forefront of space exploration come next year when the shuttle is retired. Never since the launching of Sputnik have we been in a similar situation. Next year we will lose our capability to put a man in space. we are putting the burden of the ISS on other countries when we have invested so much in it?
idk i dont like that
Besides there is a huge amount of economic potential in space from mining to power. why would we want to lose our ability to engage in that economic forefront.
Maybe i am being a bit melancholy but when a nation stops expanding. when it loses that will to look outwards and starts looking exclusively inwards it is the beginning of the end for that nation.
Bush/Chainey was the beginning of the end for this Country.
desire to take on huge debt burden to cultivate and develop industries of the future. It's to easy to blame it on Bush and Cheney or whoever.
And big wig financiers
And I find little that's funny these days
Some GOOD news on the Economy:
http://news.yahoo.com/s/ap/20090323/ap_on_bi_...
Climate competitiveness, part 1: The U.S. requires a strong climate bill to remain competitive. - http://gristmill.grist.org/story/2009/3/20/13...
Krugman: Financial Policy Despair - http://www.nytimes.com/2009/03/23/opinion/23k...
Just Like With Stimulus, GOP Lawmakers Slam Omnibus While Touting Its Funding For Local Projects - http://thinkprogress.org/2009/03/22/gop-stimu...
Storming the Castle: Protesters visit AIG officials' lavish Conn. homes - http://news.yahoo.com/s/ap/20090322/ap_on_re_...
Security guard wearing dark blazer, sunglasses meets crowd at edge of driveway - http://www.nytimes.com/2009/03/22/nyregion/22...
Tomgram: A Second 9/11 in Slow Motion; Economic Dirty Bomb Goes Off in New York -Tom Engelhardt - http://www.tomdispatch.com/post/175049/a_seco...
"This time around there's no dust, no ash, no acrid smell, no sirens, no jets, and no brave rescuers either. And yet the effect might, sooner or later, be far more apocalyptic and the lives swallowed up far greater. This time, of course, the fanatical extremists were homegrown. Their "caves" were on Wall Street.
They hijacked our economy and did their level best to take down our world. For the perpetrators, who have, at worst, gone home pocketing their millions, there will be no retribution. No invasions will be launched, no missiles shot into homes or hideouts.
None of them will be pursued to their lairs, or kidnapped off the streets of New York, or from their palatial mansions, or apartments, or estates. None will be spirited to foreign lands to be imprisoned and tortured. None will be labeled "enemy combatants."
It's not as if corporate greed is a new phenomenon - http://welcomebacktopottersville.blogspot.com...
Must see pic!
Power Grid Is Found Susceptible to Cyberattack - http://www.pcworld.com/businesscenter/article...
Gov. Sarah Palin (R-AK) shortchanges students to enhance her career with political base say teachers - http://www.examiner.com/x-5697-Grassroots-Pol...
Is she the worst kind of hypocrite? You betcha....
Banking Transparency Gone: The con-servative dominated Federal Reserve has been Slowly Moving to more Archaic Forms of Creating Credit. New Plan Will Subsidize Casino Loans for Investors with Taxpayer Money.
- http://www.mybudget360.com/banking-transparen...
Ring wingnuts & con-servatives extreme jealousy update: Hardline Saudi clerics urge new information minister to ban women, music from TV
- http://www.chicagotribune.com/news/nationworl...
Robert Parry: "One interesting trait of elitists is that they show remarkable class solidarity, often more so than people of lesser means. Which may help explain why the Washington Post’s editorial writers penned three editorials last week decrying the populist outrage over the AIG bonuses.
- http://www.consortiumnews.com/2009/032209.html
Matt Taibi, "Rolling Stone": So it's time to admit it: We're fools, protagonists in a kind of gruesome comedy about the marriage of greed and stupidity.
And the worst part about it is that we're still in denial — we still think this is some kind of unfortunate accident, not something that was created by the group of psychopaths on Wall Street whom we allowed to gang-rape the American Dream."
- http://www.rollingstone.com/politics/story/26...
Unions are a Stabilizing Force in Our Economy - http://www.boston.com/bostonglobe/editorial_o...
Thomas Frank: Wall Street Mocks American Values - http://online.wsj.com/article_email/SB1234312...
Trade Barriers Rise as the Recession’s Grip Tightens - http://www.nytimes.com/2009/03/23/world/23tra...
From a looming battle with China over tariffs on carbon-intensive goods to a spat over Mexican trucks using American roads, barriers are going up around the world. As the recession’s grip tightens, these pressures are likely to intensify, several experts said.
Joe Biden is Hysterical at Gridiron Dinner: Transcript -- A BuzzFlash News Alert - http://buzzflash.com/articles/node/8012
'Clean Coal' Opposition Mounting - http://www.desmogblog.com/clean-coal-oppositi...
Florida Water Worries: Serious Shortages For Tampa Bay - http://www.treehugger.com/files/2009/03/flori...
Fox News? Lies? Say it ain't so!
I bet this is just the tip of the iceberg...
I know it's a wiki link, but read it any damn way!
http://en.wikipedia.org/wiki/Jane_Akre
New calls for revolution from the bearded one.
http://snipurl.com/dv7hk
They are playing with fire...
http://abcnews.go.com/Blotter/Story?id=714647...
must be smiling from his grave...
Quite frankly I don't trust neither of them. Krugman just isn't right. I don't care if he did win the Nobel Prize. Geithner is just plain weird and creepy, he talks like someone who smokes meth. I think Obama could have done way better than him.
Who was your pick?
http://www.rollingstone.com/politics/story/26...
http://www.brasschecktv.com/page/187.html
Does anyone know who these guys are?
But berating Geitner for being a 'little weasel' is sizism and sexist too because that probably wouldn't be said about a woman.. 'weasel' is enough..
So, Canadian politicians are now demanding an apology from Fox News for trashing the Canadian Armed Forces' efforts in Afghanistan the other day. I doubt anything will come of it, unless Canadian cable companies decide to drop Fox from their cable services.
Update: It keeps getting better and better. Now Greg Gutless is saying he regrets that his comments were "misunderstood." Yeah...lilke Larry Craig regrets that his foot tapps were misunderstood.
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