Paul Krugman extolled the benefits of war this Sunday on Fareed Zakaria's program Global Public Square. After all, he asserted, only spending equivale...
This is at least the third time that Paul Krugman has claimed that modern money theorists say "deficits are never a problem." He never cites anyone when he makes the false claim.
How do we put the dark side of 'U.S.' back into its bottle? The huge stock market losses make it harder for even the no-tax free marketers to deny the results of their work. The free market had spoken, after all, and did not like what it saw.
On Friday S&P downgraded U.S debt from AAA to AA+, the first such downgrade in the nation's history resulting in grave concerns over the outlook for the U.S. economy. Yet simultaneously they must have been popping champagne corks at Pimco.
Maybe part of the issue is our own complicity by getting depressed rather than angry.
No sooner did the president and Boehner announce their agreement than the stock market fell dramatically. The all-knowing Stock Exchange, that Delphic Oracle of their cult, has looked upon their handiwork... and frowned.
We will look back and know that when the debt ceiling issue was in play, the Republicans made their case, but nobody in a position of power made the opposing argument. The Democrats just went along and will have to live with the consequences, along with the rest of us.
Barack Obama has not been the leader we expected. Now, the president has a problem that may thwart his reelection bid.
Capitalism is the most effective economic system we have yet devised -- and it is also probably the most effective way of channeling greed that we have yet tried.
What seems consistent about the Right's distortions of reality is that they are framed to lead the public to take risks that otherwise it would reject -- whether the risk is a global economic meltdown or a climactic one.
We are still in some sort of a disinflationary spiral. Yes, I said disinflation, which means the rate of inflation is falling, not rising as the holders of debt would have us believe.
The president and his team have a clear choice: They can either retreat from this position and fight aggressively for Social Security and other popular programs, or they can stake his re-election on a misguided roll of the dice.
Hopefully the Bernanke Fed will not continue to disregard the damaging consequences of more rapid inflation and its devastating remedies.
To me, in the wake of Weiner's foolishness, the big question is: How will the Democrats proceed without one of their most steadfast and articulate spokesmen in Washington?
Don't give us a long-term plan for future Congresses to pay the debt. Start paying it. Cut out the politics and replace the corporate tax with a 6% VAT. Cut spending and start paying for government.
Barack Obama, who took office months after the Great Recession started, must be cursing his luck. Just at the point when investment and jobs normally would be coming back, the U.S. economy has taken a sickening swoon.