Reuters:
The world economy has avoided "utter catastrophe" and industrialized countries could register growth this year, Nobel Prize-winning economist Paul Krugman said on Monday.
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This guy should stick to acting. He was great in Quincy and The Odd Couple but I really don't know how he became some economic expert.
make up your mind, krugman.
Gosh, I don't think anything different has been done in the wake of Krugman's comments that the current administration is heading in the wrong direction when it came to handling this economic crisis.
Yes Mr. Klugman, at least our upper class is safe and secure. Whew!
Every one needs the occasional flight from reality. This is Krugman's.
It's a good thing you were WRONG in your previous assessment, Krugman.
For all his brilliance, Krugman does not understand that maldistribution of income is one of our core problems.
It is irresponsible to communicate or infer that the administrative/financial actions taken so far have avoided a catastrophe. The worst is still accelerating the contraction of the population's capacity to sustain itself. Milk, meat and other food producers in the U.S. are not getting enough money for their produce; banks demand closure of their operations: a threat to the population as all out war. The monetary system, the imperial system, disguised as globalism is a killing machine. Speculation, usury, forced trade, perpetual war, outsourcing jobs and industry, social security and medicaid cuts is leading the nation to disaster. As per Lyndon LaRouche: Put the fed into bankruptcy, create the U.S. National Bank. Credits and currency will be issued into the population's physical economy. Jobs and purchasing power will be introduced into economy. Stop the foreclosures. Enact the Homeowners and Bank Protection Act. expand Social Security and Medicaid. Start the construction of 100 fourth generation nuclear generation and distribution systems. History has shown; American creativity expressed in brains and brawn has the power to save humanity.
with the massive amount of stimulus or in reality spending the economy will rebound. this not being traditional stimulus, it goes mainly to government workers in one form or another and unions in all forms. things will get better. then, we have to deal with the deficit. im afraid the middle class will suffer from inflation leading to a lower standard of living. Better get a job with the government, a union(teachers, labor ,government or whatever). Everything else will be supported like the bond holders and the car dealers.
"Global recovery could come about through more investment by major corporations, the emergence of a major technological innovation to match the IT revolution of the 1990s or government moves on climate change."
The obvious thing is promote the development of "green energy" and environmental technologies our corporations have been bottling up for many decades. The US could easily lead in this field and once more be the source of innovation and an inspiration to the world. But, we need to stop letting morons run the show.
[W]e need to stop letting morons run the show
====================================
OBVIOUSLY you've never worked in the corporate setting...morons THRIVE whilst talent is shunned!
I'm not seeing a "mea culpa" from Krugman for the abuse he's been directing at the president and at Tim Geithner and Lawrence Sumners. Looks like they were right after all all, and Krugman was wrong about what steps were necessary.
Nop, he was right, but dinner with Obama made Krugman cave.
We are still waiting for about 2 trillion dollars of commercial real-estate that has to be re-financed in the next 6-12 month, and then we have the raising defaults on credit card debt.
NON of the fundamentals have changed, only Krugman's opinion.
Must have been some dinner.
Perhaps they pulled out some porn rental records at the dinner.
When you define economy using capital liquidity, stock prices, credit risk, and other financial tools then it IS getting better. When you define it from the perspective of cost of goods and services and salaries, then it is NOT getting better. The problem is that the latter will not be improved when the former improves. It costs more to live.
The story pretty much says nothing.
it said alot krugman was wrong ,and he is wrong now !
At least he's modified the direction his opinion is going if not the rate or recovery. And, he's right about not having much visibility about where new growth is going to come from. We've used up our three wishes and he thinks we aren't going to drown in the well.
As I posted earlier, just because you didn't drive your car off a cliff doesn't mean you aren't running out of gas.
Not sure about your three wishes idea, but we still have a ways to go before we're out of these deep woods, brought to us courtesy of the previous administration.
You'll need to take the way back machine much, much further than the previous admin. Not that they didn't do their best in thieving.
The doom and gloom squad are in a tizzy. One of their favorite doomsayers is not comparing the economy to the Titanic anymore. You all loved Krugman when he was saying the economy would not start recovering but now you hate him when he predicts a slow recovery.
Please tell us who all are "you all" here, Quirk?
Generalize much?
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First Posted: 05-25-09 09:02 AM | Updated: 05-26-09 02:10 PM