bloomberg.com:
Sept. 21 (Bloomberg) -- The global economic downturn has probably hit bottom though the recovery will be "slow and painful," said Paul Krugman, the Nobel Prize winning economist.
Stephen Gyllenhaal: The Shock and Awe of a Second Financial Meltdown
I have this nasty feeling that on the right, the big boys are happier than ever -- no reforms, no meddling in the existing structure and the memory fast fading of who actually caused that last meltdown.
James Altucher: 12 Ways The World Could Be Destroyed
We live in a world of nightmares. But understanding these worries -- the myriad ways the world could end -- and hedging against them is the way to turn the fear into greed, the nightmare into a dream.
Economics and Politics - Paul Krugman Blog - NYTimes.com
The Official Paul Krugman Web Page
Krugman: Baucus Plan "Better Than Many Of Us Expected"
An Open Letter to Paul Krugman
Obama vs. Krugman: Five Reasons the President's Right on Carbon Tariffs
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Mr Krugman, I agree.
What America needs is for people to come together and have mass demonstrations against all of this BS, the banking system, Fed's, Healthcare , etc., etc.
I also think this is only a delay , the system has cannibalised its self and it will fail . The bankers have already gone back to the old ways of no fear no limits .
If no justice is served the American People are going to get more restless, and the next time something happens...
hat tip to: http://www
Ignorance = Negligence
Wouldn't it be more effective to emphasize "COULD" instead of "UNREST"? More accurate too...
"Could" is not working, as we can see every day, can't you?
Unrest would be a great solution !!!
Joebagofdonuts:
I agree that Krugman's other article from the times was more interesting. According to Krugman in the Times, this below is shocking. It shows how brainwashed and clueless Obama is about compensation. People had incentives to ignore their companies and the countrires interest, even to wreck both. Obama does not wonder why other countries with as successful, actually more sound and successful banks in many cases, do not pay their execs so much and realize the long term picture. From the article Krugaman wrote:
"I was startled last week when Mr. Obama, in an interview with Bloomberg News, questioned the case for limiting financial-sector pay: “Why is it,” he asked, “that we’re going to cap executive compensation for Wall Street bankers but not Silicon Valley entrepreneurs or N.F.L. football players?”
That’s an astonishing remark — and not just because the National Football League does, in fact, have pay caps. Tech firms don’t crash the whole world’s operating system when they go bankrupt;.
Wow ! How myopic can you get both politically and practically ?
I am glad to see some others think this guy is a buffoon; my opinion for a long time; I know he is a "leftie" or at least a "populist"
It just shows they will give a nobel to anyone.
Now that is funny!
Its hard to avoid the Krugman is perfect filter here at huff post but I said it:)
Peter schiff is worth peoples time, go look up a REAL economist that actually talks about economics and sounds realistic. Keynesian economics is love by big spending governments because it prints money out of thin air, it funds wars and tyranny.
This Administration, directed by the International Monetary Financier Power, is set to manage an economic and population contraction policy. Usury and speculation in every financial transaction is unsustainable, ultimately creates production and population contraction. Usury has created a deadly devise that redistributes the gain/value of production and labor. The monetary financial derivative debt based economic system is a killing machine; there is no fixing it. The bailout trillions were wasted; the casino is up and running; this bubble too, shall pop. Usury, speculation, perpetual war, forced trade, bailout trillions, market forces, unemployment in the millions, foreclosures, homeless children, cutbacks in education and medical services are taking the population to its' doom. If the United States does not implement economy formation measures, the U. S. economy will stop functioning. The monetary financial debt based global economic system must be terminated ASAP. Put the Fed into bankruptcy, get the bailout trillions back, banks that qualify will join the U.S. National Bank. Credits and currency will be issued into the population's physical economy; for the perpetuation and improvement of the productive facilities on which our lives depend. Only the United States can confront the international Monetary Financier Power; will lead and cooperate with other nations and create a reorganization of the world financial/economic system.
I wonder why this article by Krugman is up instead of this one:
http://www
Frankly, Krugman's call to Obama to take a populist approach is deserving of more digital "ink" than this article. If we don't hold the banksters responsible for what they have done to us and reform their behavior and place limits on their excesses, we shall never have a workable world for the rest of us. This is so clear as to be obvious to all but the most ideologically addled. Even the tea partiers are on to this. If Obama refuses to step up to this plate and take a swing for the fences, he IS complicit in our financial demise.
What about Government abuse, fraud, meddling, unaccountable spending, bailing out every failed government run program with our money (post office - $7 Billion in debt; medicare - insolvent in 7 years, expenses now exceed income; Social Security - insolvent by 2030; The Fed - arranging to BUY BACK BONDS ISSUED BY THE TREASURY DEPARTMENT THROUGH 3RD PARTIES, because nobody else would)?
Government is a legalized monopoly it cannot be sued and answers to politicians, not us, even Reagan and the later Republican house and senate couldn't put much of a dent in it.
Try a little objectivity.
Go try that crap with people that do not know better.
The post office has raised it's rates what, .15 cents in 20 years ?
They have to deliever to every corner of the US and make agreements with every country.
They must continue delivering mail inspite of email and electronic payments. Much of their pension is self sustained and not part of the government funds. Most companies have dropped, spent, or dumped their pension liabilites onto the government. The mart store puts their employees on public assitance including Medicaid because they offer so little. It's improving some, but it shows how big business pushes their costs onto the public square, pays little in taxes( they used to), and keeps their profits.
Wall St. was a big mess up and saved by our tax dollars without being held accountable. I guess you are for socialism and welfare for the big business but they pay nothing ?
In private industry I would tell you to talk to the hand to deliver to some mountain top village for under 50 cents. The post office cannot do that.
Ronald Reagan, before GW 43, ran up the greatest amount of debt than almost all previous presidents combined since the founding of the country. He and other "conserv" pols raided the social security fund.
Ronald Reagan proposed his budgets and they were not balanced !
Bull.
What about corporate abuse, fraud, unaccountable destruction of lives and environment, corruption of our government and the like?
As for not suing the government
It's not bigness that generates badness, it's corruption and corporate control that makes government bad and unresponsive to the people to whom it is legally responsible.
“Leading the recovery will be business investment, he said, “but what’s going to drive business investment? It would be very helpful if someone could” make a discovery that would lead us out of this recession. “If we can introduce effective climate change policies, particularly the cost of carbon emissions,” that “would be a reason to invest.”
First of all we must free science of Global Warming from politic.
In right direction for fighting GW we could provide 100% of employment and therefore 100% of health insurance.
We could be energy independent and fight GW, but I do not see these ideas from anybody in Government and mass media.
That is why the media in general are going down the dumps, and the Internet is becoming the new informative super highway. And that is why there’s a movement that want congress to regulate and restrict bloggers on the Internet.
Why are all of these same people going from one administration to another, like the Larry Summers group, into both Democrat and Republican administrations since former President Richard Nixon?
Where are the 9.7 trillions of missing dollars from our U.S. TREASURY, under the control of the Federal Reserve a private bank?
Why is the Federal Reserve, a “private bank” still in charge of our monetary affairs?
The Stimulus made it MUCH WORST, this is going to make the next crash all that much bigger.
have empirical data for that?
Ref: Bondad for the case that you are wrong.
Paul,
There is a road map. You should read the book How America Can Escape the New Great Depression. It calls for massive quantitative easing and for lowering the retirement age for Social Security and Medicare to 60 in order to open up jobs for younger workers. We can either have more retired people or more unemployed people.
http://www
the end of the world for a corrupt and insolvent banking system may have been postponed but for the people thrown to the gutter of unemployment, it is the end of the world for them. I don't cheer for a banking system that is corrupt and bankrupt and has been enabled to continue to exist in its current form.
We need to automate everything and pay people not to work.
Paul's a smart guy but usually a year or two behind in his thinking.
We really need to stop exporting jobs and starting bringing jobs back.
We can't consume if we don't produce.
We need to make everything we possibly can.
If Americans wear shoes, we should make shoes in America.
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First Posted: 09-21-09 08:22 AM | Updated: 09-21-09 08:32 AM