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(The New York Times)   Remember how federal deficits were supposed to cause soaring interest rates?   (nytimes.com) divider line 262
    More: Fail, federal deficits, interest rates, foreign debts, David Stockman, op-ed pages, money creation, Herbert Hoover  
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2361 clicks; posted to Politics » on 05 Apr 2013 at 9:12 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-04-05 08:10:08 AM
"the fact is that these ranters have been wrong about everything, at every stage of the crisis "

I think I see a theme here.
 
2013-04-05 08:15:37 AM
But they will! One day! They totally totally will and it proves they were right!
 
2013-04-05 08:20:13 AM
Anyone remember how Krugman has been consistently right for years now yet called an idiot by everyone on the right?
 
2013-04-05 08:21:38 AM

CPT Ethanolic: Anyone remember how Krugman has been consistently right for years now yet called an idiot by everyone on the right?


While everyone on the right does call him an idiot, most elected Democrats don't pay him any more actual attention than the GOP does.
 
2013-04-05 08:22:18 AM
They would have caused soaring interest rates, subby, but the fact of the matter is that various liberal groups and Obama men (Ben Bernanke? Heard of him?) have all conspired to keep interest rates artificially low despite what the market would have naturally done. Their entire goal in this effort has been to make conservative economists look bad and to make Keynesian economists like Krugman look good. And do you know why? Look at the word "Keynesian." Remind you of anything? A country, perhaps? One in Africa? Right.

And, seriously, Krugman? Thugman is more like it. The man is a bully who intimidates the intelligentsia on the right into a cowed silence. They know that if they dare open their mouths to challenge his bald-faced lies, they will face retaliation of the sort that would make the Aryan Brotherhood look like over-ambitious girlscouts. Krugman has the resources of organizations like ACORN, Daily KOS, Democratic Underground, the Weather Channel, and basically the entire liberal elite. which has bottomless funding streams provided by George Soros and New York Mayor Bloomberg. We're talking about an organization that has managed to turn once-stalwart Republicans like Chris Christie and Bob McDonnell to their side. What do you think they would do to some economist trying to shine the light of truth onto this great lie?

Grow up.
 
2013-04-05 08:23:53 AM
graphics8.nytimes.com

I'm always right. Everybody else is stupid. How many Nobel Prizes do you have?
 
2013-04-05 08:25:59 AM
But there is some small eastern European country that had an austerity budget (not really) and is booming (not really)! I heard it on Fox!


/And Benghazi!
 
2013-04-05 08:33:00 AM
I am still stuck on the part where Ronald Reagan's budget director is talking about debt sprees as a bad thing.
 
2013-04-05 08:34:04 AM
Republicans are usually wrong about all things economic. And Science. And Logic. etc...
 
2013-04-05 08:35:03 AM

spongeboob: I am still stuck on the part where Ronald Reagan's budget director is talking about debt sprees as a bad thing.


Republicans have no sense of self awareness.

izquotes.com
 
2013-04-05 08:35:15 AM
I'm excited for the who who shall not be named to start threadjacking by talking about ROI on debt.
 
2013-04-05 08:36:38 AM

DamnYankees: CPT Ethanolic: Anyone remember how Krugman has been consistently right for years now yet called an idiot by everyone on the right?

While everyone on the right does call him an idiot, most elected Democrats don't pay him any more actual attention than the GOP does.


I think many Democrats agree with him, but there are also a bunch of idiots that have fallen for the GOP lies, and don't want to get caught on the wrong side of the disaster that will never happen.
 
2013-04-05 09:04:44 AM

Pocket Ninja: They would have caused soaring interest rates, subby, but the fact of the matter is that various liberal groups and Obama men (Ben Bernanke? Heard of him?) have all conspired to keep interest rates artificially low despite what the market would have naturally done. Their entire goal in this effort has been to make conservative economists look bad and to make Keynesian economists like Krugman look good. And do you know why? Look at the word "Keynesian." Remind you of anything? A country, perhaps? One in Africa? Right.

And, seriously, Krugman? Thugman is more like it. The man is a bully who intimidates the intelligentsia on the right into a cowed silence. They know that if they dare open their mouths to challenge his bald-faced lies, they will face retaliation of the sort that would make the Aryan Brotherhood look like over-ambitious girlscouts. Krugman has the resources of organizations like ACORN, Daily KOS, Democratic Underground, the Weather Channel, and basically the entire liberal elite. which has bottomless funding streams provided by George Soros and New York Mayor Bloomberg. We're talking about an organization that has managed to turn once-stalwart Republicans like Chris Christie and Bob McDonnell to their side. What do you think they would do to some economist trying to shine the light of truth onto this great lie?

Grow up.


Even by your high standards this post was a work of genius.

/We're not worthy!
 
2013-04-05 09:15:31 AM
Oh man a Krugman thread?

www.reactiongifs.com


i.imgur.com
i52.tinypic.com
 
2013-04-05 09:16:51 AM

NateGrey: spongeboob: I am still stuck on the part where Ronald Reagan's budget director is talking about debt sprees as a bad thing.

Republicans have no sense of self awareness.

[izquotes.com image 850x400]


I've always loved that quote, because it offers such a fascinating view into the mindset of the Republican "elite".
 
2013-04-05 09:17:38 AM

NateGrey: Republicans are usually wrong about all things economic. And Science. And Logic. etc...


If there is a God, he isn't Jesus.

How do I know this? The GOP says he's Jesus, and they're wrong about everything.

Also, in before the Republican strawman characterizations of Krugman.
 
2013-04-05 09:18:51 AM
STFU IF YOU DON"T BELIEVE THIS STFU IF YOU DON"T BELIEVE THIS STFU IF YOU DON"T BELIEVE THIS
STFU IF YOU DON"T BELIEVE THIS STFU IF YOU DON"T BELIEVE THIS STFU IF YOU DON"T BELIEVE THIS
STFU IF YOU DON"T BELIEVE THIS STFU IF YOU DON"T BELIEVE THIS STFU IF YOU DON"T BELIEVE THIS

Debt and deficits are not the concern of the short-term.  Growing the economy and your tax base is the concern
of the short-term.  Having a strong middle-class with purchasing power is the concern of the short-term.


STFU IF YOU DON"T BELIEVE THIS STFU IF YOU DON"T BELIEVE THIS STFU IF YOU DON"T BELIEVE THIS
STFU IF YOU DON"T BELIEVE THIS STFU IF YOU DON"T BELIEVE THIS STFU IF YOU DON"T BELIEVE THIS
STFU IF YOU DON"T BELIEVE THIS STFU IF YOU DON"T BELIEVE THIS STFU IF YOU DON"T BELIEVE THIS

because you're a retard if you don't.

//thanks, sincerely, f*ck you if you don't believe this
 
2013-04-05 09:20:20 AM

Pocket Ninja: They would have caused soaring interest rates, subby, but the fact of the matter is that various liberal groups and Obama men (Ben Bernanke? Heard of him?) have all conspired to keep interest rates artificially low despite what the market would have naturally done. Their entire goal in this effort has been to make conservative economists look bad and to make Keynesian economists like Krugman look good. And do you know why? Look at the word "Keynesian." Remind you of anything? A country, perhaps? One in Africa? Right.

And, seriously, Krugman? Thugman is more like it. The man is a bully who intimidates the intelligentsia on the right into a cowed silence. They know that if they dare open their mouths to challenge his bald-faced lies, they will face retaliation of the sort that would make the Aryan Brotherhood look like over-ambitious girlscouts. Krugman has the resources of organizations like ACORN, Daily KOS, Democratic Underground, the Weather Channel, and basically the entire liberal elite. which has bottomless funding streams provided by George Soros and New York Mayor Bloomberg. We're talking about an organization that has managed to turn once-stalwart Republicans like Chris Christie and Bob McDonnell to their side. What do you think they would do to some economist trying to shine the light of truth onto this great lie?

Grow up.


After the giant mountain of troll sh*t this site was buried in over the last couple of days, I was just about to give it a week-long ignore, and then you go and post this beautiful thing.
 
2013-04-05 09:20:58 AM

Dinki: I think many Democrats agree with him, but there are also a bunch of idiots that have fallen for the GOP lies, and don't want to get caught on the wrong side of the disaster that will never happen.


His disillusionment with the administration is palpable. As well it should be. He thought they were on his side and were going to work from the perspective of what he (and others) have been saying, only to see them fall into the same trap that others have taken. Whether this is because they lack the courage of their convictions or because they've been bought is up for debate. At any rate, it is hard not to sympathize with Krugman. Poor guy is giving good advice and keeps getting ignored for charlatans and kleptocrats.
 
2013-04-05 09:21:53 AM

Pocket Ninja: They would have caused soaring interest rates, subby, but the fact of the matter is that various liberal groups and Obama men (Ben Bernanke? Heard of him?) have all conspired to keep interest rates artificially low despite what the market would have naturally done. Their entire goal in this effort has been to make conservative economists look bad and to make Keynesian economists like Krugman look good. And do you know why? Look at the word "Keynesian." Remind you of anything? A country, perhaps? One in Africa? Right.

And, seriously, Krugman? Thugman is more like it. The man is a bully who intimidates the intelligentsia on the right into a cowed silence. They know that if they dare open their mouths to challenge his bald-faced lies, they will face retaliation of the sort that would make the Aryan Brotherhood look like over-ambitious girlscouts. Krugman has the resources of organizations like ACORN, Daily KOS, Democratic Underground, the Weather Channel, and basically the entire liberal elite. which has bottomless funding streams provided by George Soros and New York Mayor Bloomberg. We're talking about an organization that has managed to turn once-stalwart Republicans like Chris Christie and Bob McDonnell to their side. What do you think they would do to some economist trying to shine the light of truth onto this great lie?

Grow up.


The only thing missing is a chalk board, that was beautiful good sir
 
2013-04-05 09:22:14 AM
"Mellonism" is a good term.
 
2013-04-05 09:24:34 AM
This just in: US debts are denominated in US dollars.  And we can print more any time we like.

That may cause inflation, but it won't do squat to the t-bill rate, ESPECIALLY with the Eurozone in crisis.
 
2013-04-05 09:25:32 AM

Pocket Ninja: intelligentsia on the right


This is the phrase that made this post shine.
 
2013-04-05 09:25:42 AM
Remember when federal deficits were the worst thing that had ever happened in the history of history and Krugman didn't approve of them one little bit?

If you had even an ounce of a problem with Bush's deficits, and Krugman had a lot more than that, then then you should be going absolutely insane over what Obama has been wracking up. It's almost like the man has no credibility what so ever... Oh wait... He doesn't.

And before you even start, the hypocrites are the people who had a problem with Bush's deficits but are strangely silent now, not the other way around.

By the way Krugman, still waiting for that massive apology you and people like you owe to the entire "right" for immediately jumping to the completely false conclusion concerning the Giffords shooting.
 
2013-04-05 09:27:16 AM

Pocket Ninja: They would have caused soaring interest rates, subby, but the fact of the matter is that various liberal groups and Obama men (Ben Bernanke? Heard of him?) have all conspired to keep interest rates artificially low despite what the market would have naturally done. Their entire goal in this effort has been to make conservative economists look bad and to make Keynesian economists like Krugman look good. And do you know why? Look at the word "Keynesian." Remind you of anything? A country, perhaps? One in Africa? Right.

And, seriously, Krugman? Thugman is more like it. The man is a bully who intimidates the intelligentsia on the right into a cowed silence. They know that if they dare open their mouths to challenge his bald-faced lies, they will face retaliation of the sort that would make the Aryan Brotherhood look like over-ambitious girlscouts. Krugman has the resources of organizations like ACORN, Daily KOS, Democratic Underground, the Weather Channel, and basically the entire liberal elite. which has bottomless funding streams provided by George Soros and New York Mayor Bloomberg. We're talking about an organization that has managed to turn once-stalwart Republicans like Chris Christie and Bob McDonnell to their side. What do you think they would do to some economist trying to shine the light of truth onto this great lie?

Grow up.


10/10

Don't you mean the Weather Underground, a 60's terrorist organization hidden as my favorite weather website.
 
2013-04-05 09:27:17 AM

randomjsa: Remember when federal deficits were the worst thing that had ever happened in the history of history and Krugman didn't approve of them one little bit?

If you had even an ounce of a problem with Bush's deficits, and Krugman had a lot more than that, then then you should be going absolutely insane over what Obama has been wracking up. It's almost like the man has no credibility what so ever... Oh wait... He doesn't.

And before you even start, the hypocrites are the people who had a problem with Bush's deficits but are strangely silent now, not the other way around.

By the way Krugman, still waiting for that massive apology you and people like you owe to the entire "right" for immediately jumping to the completely false conclusion concerning the Giffords shooting.


It's almost like the wisdom of running deficits is contextual.
 
2013-04-05 09:28:12 AM
Watching liberals discuss economics is hilarious.  There is a reason that the stock market is soaring despite such awful growth and labor data....

Inflation is not appearing in the normal actors.  Through QE the government is giving money to the banks, not to the citizens.  Banks have no where else to put the money, so they are investing.  The growth of the DOW is the inflation.  Labor participation rates are  at 34 year lows.  Inflation isn't showing up because a large segment of the so called stimulus stayed in corporations and banks due to the concerns of new labor costs from regulations and ACA.

So yes, inflation does exist ,just it is staying in stocks.  Banks are taking the free money from the feds and sticking it in the only stable growth market, stocks.
 
2013-04-05 09:29:04 AM
randomjsa:

I know Pocket Ninja and you sir are no Pocket Ninja
 
2013-04-05 09:29:07 AM
Trending pretty well. Wars winding down.

ukiahcommunityblog.files.wordpress.com

Reality has a liberal bias.
 
2013-04-05 09:29:09 AM

CPT Ethanolic: Anyone remember how Krugman has been consistently right for years now yet called an idiot by everyone on the right?


Seeing as how Krugman is completely Contradicting what he said under Bush.....  Your statement can't be true.
 
2013-04-05 09:29:09 AM

randomjsa: If you had even an ounce of a problem with Bush's deficits, and Krugman had a lot more than that, then then you should be going absolutely insane over what Obama has been wracking up.


Congress authorizes spending.
 
2013-04-05 09:29:51 AM

randomjsa: And before you even start, the hypocrites are the people who had a problem with Bush's deficits but are strangely silent now, not the other way around.


lol why? Because you said so?
 
2013-04-05 09:29:54 AM

vernonFL: [graphics8.nytimes.com image 190x285]

I'm always right. Everybody else is stupid. How many Nobel Prizes do you have?


His nobel prize was in trade theory that is almost completely opposite in nature to what he preaches now.
 
2013-04-05 09:30:06 AM

MyRandomName: Watching liberals discuss economics is hilarious.  There is a reason that the stock market is soaring despite such awful growth and labor data....


I'll take suppressed wage rates and squeezed production for 500 Alex
 
2013-04-05 09:30:17 AM
"So what should we be doing? By all means, let's restore the kind of effective financial regulation that, in the years before the Reagan revolution, helped deter excessive leverage. "

Preach it, brother.
 
2013-04-05 09:30:28 AM

MyRandomName: a large segment of the so called stimulus stayed in corporations and banks due



In England they tried austerity and the 99% suffered. In American they tried stimulus and the 1% profited. Heads I win, tails you lose.
 
2013-04-05 09:30:55 AM

HotWingConspiracy: randomjsa: If you had even an ounce of a problem with Bush's deficits, and Krugman had a lot more than that, then then you should be going absolutely insane over what Obama has been wracking up.

Congress authorizes spending.


He's on a roll.
 
2013-04-05 09:31:27 AM

Hickory-smoked: "Mellonism" is a good term.


flavorwire.files.wordpress.com
 
2013-04-05 09:31:56 AM
Can someone make an analogy for me... to simplify things a bit?  Maybe something involving coconuts and bananas?
 
2013-04-05 09:32:19 AM

MyRandomName: vernonFL: [graphics8.nytimes.com image 190x285]

I'm always right. Everybody else is stupid. How many Nobel Prizes do you have?

His nobel prize was in trade theory that is almost completely opposite in nature to what he preaches now.


Honestly curious, have any conservative economist won Nobel Prizes for any of their theories? You guys should start your own Derp Nobel Prizes.
 
2013-04-05 09:33:04 AM

randomjsa: By the way Krugman, still waiting for that massive apology you and people like you owe to the entire "right" for immediately jumping to the completely false conclusion concerning the Giffords shooting.


No wonder you thought Benghazi was a scandal!  LOL!
 
2013-04-05 09:33:31 AM
"The soaring stock market is proof the economy is in the toilet!"
 
2013-04-05 09:33:53 AM

MyRandomName: Watching liberals discuss economics is hilarious.  There is a reason that the stock market is soaring despite such awful growth and labor data....

Inflation is not appearing in the normal actors.  Through QE the government is giving money to the banks, not to the citizens.  Banks have no where else to put the money, so they are investing.  The growth of the DOW is the inflation.  Labor participation rates are  at 34 year lows.  Inflation isn't showing up because a large segment of the so called stimulus stayed in corporations and banks due to the concerns of new labor costs from regulations and ACA.

So yes, inflation does exist ,just it is staying in stocks.  Banks are taking the free money from the feds and sticking it in the only stable growth market, stocks.


Or, it could have something to do with this....

static.viame.com
 
2013-04-05 09:34:42 AM

theknuckler_33: Can someone make an analogy for me... to simplify things a bit?  Maybe something involving coconuts and bananas?


I'm not saying coconuts

But coconuts
 
2013-04-05 09:35:25 AM

MyRandomName: Inflation is not appearing in the normal actors. Through QE the government is giving money to the banks, not to the citizens. Banks have no where else to put the money, so they are investing.


Investing in what?

An investment moves money around - a bank gives a pile of it to a company to help them make payroll this month, and they get a bigger pile (though over time) back while the company gets to pay its employees. Those many employees get to spend that bank investment all over the place - rent, gas groceries; the one in a northern suburb buys a car; another in a far-flung western exurb buys some land adjacent to his...

Some of those employees are citizens. Most of them, hopefully (because a business would never hire someone for less than a statutory minimum wage to help them keep operating costs down, right?).
 
2013-04-05 09:36:08 AM

NateGrey: MyRandomName: vernonFL: [graphics8.nytimes.com image 190x285]

I'm always right. Everybody else is stupid. How many Nobel Prizes do you have?

His nobel prize was in trade theory that is almost completely opposite in nature to what he preaches now.

Honestly curious, have any conservative economist won Nobel Prizes for any of their theories? You guys should start your own Derp Nobel Prizes.


The Derpbel Prize given for herping the greatest derp in fields of economics, climatology, evolution, human rights, and foreign policy.
 
2013-04-05 09:36:23 AM

impaler: Also, in before the Republican strawman characterizations of Krugman.


randomjsa: Remember when federal deficits were the worst thing that had ever happened in the history of history and Krugman didn't approve of them one little bit?

If you had even an ounce of a problem with Bush's deficits, and Krugman had a lot more than that, then then you should be going absolutely insane over what Obama has been wracking up. It's almost like the man has no credibility what so ever... Oh wait... He doesn't.

And before you even start, the hypocrites are the people who had a problem with Bush's deficits but are strangely silent now, not the other way around.

By the way Krugman, still waiting for that massive apology you and people like you owe to the entire "right" for immediately jumping to the completely false conclusion concerning the Giffords shooting.


Keynesians don't say "spend freely all the time." Different economic situations require different solutions. This is something the, "The economy is doing Y? Cut taxes on the rich!" Republicans will never understand.
 
2013-04-05 09:36:50 AM

MyRandomName: The normal factors we use to measure economic health are making Obama look good. So lets use other measurements.


Seems legit.
 
2013-04-05 09:37:00 AM

Pocket Ninja: They would have caused soaring interest rates, subby, but the fact of the matter is that various liberal groups and Obama men (Ben Bernanke? Heard of him?) have all conspired to keep interest rates artificially low despite what the market would have naturally done. Their entire goal in this effort has been to make conservative economists look bad and to make Keynesian economists like Krugman look good. And do you know why? Look at the word "Keynesian." Remind you of anything? A country, perhaps? One in Africa? Right.

And, seriously, Krugman? Thugman is more like it. The man is a bully who intimidates the intelligentsia on the right into a cowed silence. They know that if they dare open their mouths to challenge his bald-faced lies, they will face retaliation of the sort that would make the Aryan Brotherhood look like over-ambitious girlscouts. Krugman has the resources of organizations like ACORN, Daily KOS, Democratic Underground, the Weather Channel, and basically the entire liberal elite. which has bottomless funding streams provided by George Soros and New York Mayor Bloomberg. We're talking about an organization that has managed to turn once-stalwart Republicans like Chris Christie and Bob McDonnell to their side. What do you think they would do to some economist trying to shine the light of truth onto this great lie?

Grow up.


smartautocar.com

/the weather channel... lulz!!!!
 
2013-04-05 09:37:12 AM

bmongar: NateGrey: MyRandomName: vernonFL: [graphics8.nytimes.com image 190x285]

I'm always right. Everybody else is stupid. How many Nobel Prizes do you have?

His nobel prize was in trade theory that is almost completely opposite in nature to what he preaches now.

Honestly curious, have any conservative economist won Nobel Prizes for any of their theories? You guys should start your own Derp Nobel Prizes.

The Derpbel Prize given for herping the greatest derp in fields of economics, climatology, evolution, human rights, and foreign policy.


Has anyone but Glenn Beck ever won?
 
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