New York Times:
Would the Obama administration's plan for financial reform do what has to be done? Yes and no.
Paul Krugman Schools George Will On The Great Depression
Krugman On Administration: 'Bad Analysis, Bad Policy, And Terrible ...
Krugman: Reagan And His Advisers Were Prime Villains Behind The ...
Want to reply to a comment? Hint: Click "Reply" at the bottom of the comment; after being approved your comment will appear directly underneath the comment you replied to
Please prove me wrong!
Obama is bought and in the pockets of the bankers.
TARP, 8B$ to the IMF which has 100B$ in gold already, signing statement to PREVENT audits of the IMF, Getner saying Swaps aren't fraud, the list goes on. Obama is clearing the way for the World's bankers to completely Rule the world with no interference from democracies.
The Banker have accelerated their Plutocratic takeover with every Obama action.
Please, Please, Please Prove my wrong.
Dr Krugman is always worth paying attention. I think, however, he has bought into the argument that some institutions are too big to fail whereas between them, the Fed, FDIC, and the Treasury have put up so much money they could buy the whole country and set it up again, perhaps in the Amazon valley. Perhaps, we will find that the Fed is not too big to fail.
The collapse of the Federal Reserve System would involve hyper inflation that voids the dollar. This is a real possibility, but it doesn't really matter. Either the government is for the people or it has no reason to exist. What matters is what we choose as worth breaking the bank. Life goes on. Something will arise beyond the visible horizon but will we as a people achieve a government that means to serve us.
Another fig leaf of control of the Banksters. The big news is how this greatly expands the power of the FED to throw elections.
Your house is worth $125,000 but you paid $250,000 don"t worry with "Mark-To-Market" Neutered you can say whatever you want to about your home value and no one can refute you!
Now when you go in for a loan, simply declare the house is worth $300,000 and along with your clean "ON-THE-BOOKS Balance Sheet" with no visible other debts means you get money from the FED at 1% interest or maybe less!
Why can"t this world be true for ALL AMERICANS like it is for Wall Street?
We do not own Congress and they DO using ill-gotten FUNDS!
Are the Wall Street Banks really healthy? With "OFF-THE-BOOKS" accounting and "MARK-TO-MARKET" Neutered who knows what the truth is!
good articles: href=".http://kl.am/tsc> recommended website
Hmmm, remind you of anybody? I'll give you a hint, "he loves to clear brush".
"Obama's Wall Street Plan Pushes Hard Decisions Off To Future Regulators"
This way he can insulate himself from from giving trillions of tax payer dollars to the already extremely wealthy.
Okay all you critics, just think what the situation would be like if McCain had been elected President and Palin Vice President.
I am quite sure all your mealy mouthed complaints would have been satisfied and fixed by now if that had happened.
Not only that, I am sure McCain's most recent responses to the events in Iran would have truly advanced the cause of the anti-Ahmadinejad Irani's and placed these Iranian and our European allies firmly on our side.
Imagine McCain being able to speak on international relations except to speak of war and bombs. Imagine McCain trying to speak to the nation on the financial state of the union. Imagine McCain trying to address the Arab world without antagonizing all of them. Imagine McCain trying to discuss any of the topics Pres Obama has had to deal with. And just think, we could have had the well read , well informed Gov from Alaska as his backup to speak on these issues as necessary on the nation's behalf.
LOL
You are all pathetic and responding in typical American fashion - everything must be fixed and solved immediately no matter that it took 8 long concerted years for us to get into the economic and political hell holes facing the nation.
Get a grip. Remember, progressives, moderates, liberals or whatever label you choose for yourselves, McCain could be President and Palin could be your VP.
Yes, I agree, those who would say Obama is as bad or the same as Bush are full of it. Obama is infinitely better. But, This Bankster money and power grab is in the final stages of a global bankers coup, with a new more powerful FED and a new more powerful IMF dictating austerity programs while the banksters party. As I often say, I HOPE Obama has a good plan, but so far the banksters are sweeping the floor with him and us all. the IMF is the 3rd largest holder of gold in the world, but they needed money from us? see my profile for detail analysis of the bankster coup.
This would all be very damaging to a conservative's point of view... if I had ever met a conservative who wanted to vote for McCain, that is. As I recall, the jokes going round the conservative campfires when McCain somehow became the Republican candidate was "Which Democrat are you voting for?" Honestly, I see McCain doing exactly the same things Obama has. Neither knew enough about economy to do anything but nod to their economic advisers, and since Keynes has a stranglehold on all economic theory, the results would have been the same.
Oh, and my problem is precisely that we responded in no "American fashion" whatsoever. To understand this, those of you favoring a "European fashion" should dust off your copies of "Sophisms of the Protectionists."
-Chris Henderson
politguard.com
Bailing out the banksters is NOT Keynesian.
FDR shut the banks down his very first day in office.
As a result of FDR's rapid regulation and control of the banks,
The Bankers plotted to assassinate FDR.
What would have happened if they had succeeded?
The Banksters are dangerous and powerful.
I hope Obama has a good plan.
Chicago thug politics...Obama either blames someone else..or sets up someone else..I would like a Liberal to tell me how Obama(or Democrats) ACTUALLY help the middle class....How am I better off
"Too big to fail" is a magnificent phrase. It almost guarantees immortality to a huge company, ensuring massive federal bailouts should it ever find itself run by lazy, inept people with enough dinner-party political connections to get its name on the list! I wonder, Mr. Krugman, is it the American people who thought up this wonderous phrase? Is it everyday Americans who think that huge government expenditures for the sake of the presevation of badly run business will serve to make their economy stronger? Or are moronic, careless, and failing CEO's kssing the ground on which you and others like you walk for taking a page from the fear-mongering, apocalyptic scare-tactic book of George Bush and perpetuating the mythology of "too big to fail?" Or maybe you're just as much in the pockets of the unions as the Congressmen who voted for the bailout? The Politguard isn't impressed. Our newest installment of Krugman's Folly comes out soon.
-Chris Henderson
politguard.com
The too big too fail banks have been buying up other banks,they are international institutions.they planned this coup.SEE Iceland if you dont believe it.B of A owned 20% of the largest bank in china.
As Obama said the banks are holding us hostage and this is economicterrorism.
SEE his town meeting where he says it out loud.
Yeah I get the impression Obama didn't fully realize what he was getting into. I am sure the temptation to believe the hype about becoming president is impossible to resist. Then reality sets in and the bankers assume control.
Yes, I SAW the town meeting. You couldn't throw a tomato at the news without hitting five people at the town meeting for all of the SEEING we all did of the town meeting. Yes, B of A is big. My point is not to diminish in anyone's mind the largesse of these institutions. My point is to bring to everyone's attention the fact that without a government willing to bail them out, their "coup" would have reesulted in nothing more than bankruptcy. If we are being held hostage, it is because when these banks walked in with guns, our Congress, our President, and our economists, by way of the myth of "too big to fail" scared us into handing them the bullets! They are only "too big to fail" because we decided we were not going to let them fail. We gave them the power. Without the right kind of government, their plan, if there was one, would have failed.
-Chris Henderson
politguard.com
1st 100 days - There are 2.9 million more people unemployed in May than there were unemployed in January. The unemployment rate went from 7.6% to 9.4%.
Since May 2008, we have lost 5.5 million jobs. The biggest losers were:
Manufacturing 1.5 million lost
Finance & Prof Serv 1.5 million lost
Construction 1.1 million lost
Retail & Leisure 1.3 million lost
good articles href=".http://www.bit.ly/12NCJR>recommended reading
What future regulators...?
The way things are going, they'll be few and far between...
Our President
Who art in the House
Hollwed be his name
Our kingdom's come
Conservatives will be done
Throught the earth as in America
Give us our day
Our daily pork
Forgive us our hubris
As we fullfill our hubris against you
and lead us not into Fox temptation
but deliver us from conservatives
Amen
Satire rules!
The facts are that The President knows how to add; he has a coalition within his own "majority" party whose support is unpredictable, and, he has a negative, combative "just say no" minority to fight off.
As Sen. Durbin IL said recently on the Senate floor, "this place is owned by the banks." Even uglier, many of our congressional representatives are dependent on campaign money to stay in power and won't face off against those special interests who want the status quo.
How can he accomplish meaningful changes, even with supporters (reflected in some postings here on H-P) who are questioning whether this attempt to put in place stronger regulations went far enough??
Perfection is expected in an imperfective setting and frustrations are only being expressed through "do nothing" rhetoric.
true
Good to see Krugman coming "out of the shadow" and starting to critique Obama again. I'm assuming economic indicators are up enough now that he's not worried anymore about freaking out the market with his doom and gloom predictions. We need some doom and gloom to keep us focused on fixing what needs to be fixed.
Loading comments…
First Posted: 06-19-09 01:33 AM | Updated: 06-19-09 01:36 AM