TPS Posted March 13, 2013 Share Posted March 13, 2013 (edited) DC you are right to criticize this supposed economics professor's position on root causes but wrong in you ascertain that: this is really the fault of any President. The economists who saw this coming were ostracized by the leaders of the Chicago school of economics. If you want to criticize the Bush or Obama have at it but they are merely puppets to their financial handlers. These are the same Neoliberals economists who are hand picked by the Wall Street banks to run the Federal Reserve cartel. So some of the proper questions to ask TPS would be: are you a supply-sider, are you for socialism for big business and capitalism for the rest, do you support fiat currency, do banks create money, do you support finance as a means for industrial production, or rent seeking? Obviously my fans did not understand the nature of my responses here. It started with a sarcastic response to GG's dig about "failed theories;" I brought up supply-side, and I continued with sarcasm... I think I have posted ad nauseum about causes of the housing crisis for them to know better. On the other hand, big deficits by supply-siders.... Sorry, didn't answer your questions: No; This is a political question, I'm for a government that represents the populous; yes; yes; you can't have production without finance; rent seekers need to be regulated. Edited March 13, 2013 by TPS Link to comment Share on other sites More sharing options...
Magox Posted March 19, 2013 Author Share Posted March 19, 2013 (edited) Thought this was funny Latvian Prime Minister Valdis Dombrovskis hit back on Friday, March 15, at Paul Krugman’s criticism of Latvia’s austerity measures, saying the Nobel Prize-winning economist has difficulty admitting his own mistake, writes bnn-news. “Krugman famously said back in December 2008 that Latvia is the new Argentina, it will inevitably go bankrupt, and now he has difficulty apparently admitting he was wrong and so he tries to seek some problems in how Latvia is recovering from the economic crisis,” Latvian leader Valdis Dombrovskis told CNBC in an interview at the EU summit in Brussels. “But I think that the mere fact that for the last two years we are enjoying rapid growth shows that it was probably the right strategy.” Latvia’s government undertook a heavy dose of austerity after a credit boom led to an economic crash in 2008. The government undertook the biggest fiscal adjustment drive of any country in the European Union and gross domestic product (GDP) plunged 24 percent in 2009. http://www.lithuania...rity-201331890/ Also, on a side note, we were discussing savings the other day. Workers and employers in the U.S. are bracing for a retirement crisis, even as the stock market sits near highs and the economy shows signs of improvement. New data show that powerful financial and demographic forces are combining to squeeze individuals and companies that are trying to save for the future and make their money last. Fifty-seven percent of U.S. workers surveyed reported less than $25,000 in total household savings and investments excluding their homes, according to a report to be released Tuesday by the Employee Benefit Research Institute. Only 49% reported having so little money saved in 2008. http://online.wsj.com/article/SB10001424127887323639604578368823406398606.html Edited March 19, 2013 by Magox Link to comment Share on other sites More sharing options...
IDBillzFan Posted March 19, 2013 Share Posted March 19, 2013 Thought this was funny Unfortunately I can't read the Latvian PM's comments without hearing Andy Kaufman. Link to comment Share on other sites More sharing options...
Joe Miner Posted March 19, 2013 Share Posted March 19, 2013 Careful talking **** about Latvia. Dr. Doom will kick your ass. Link to comment Share on other sites More sharing options...
meazza Posted April 8, 2013 Share Posted April 8, 2013 And the troll speaks. http://www.realclearpolitics.com/video/2013/04/07/paul_krugman_no_correlation_between_regulation_and_job_creation.html Link to comment Share on other sites More sharing options...
TakeYouToTasker Posted April 8, 2013 Share Posted April 8, 2013 And the troll speaks. http://www.realclear...b_creation.html Hardly stunning. Krugman's church prays to the aggregate. It's downright heresy to lend creditably to the motivations of individual actors. Link to comment Share on other sites More sharing options...
IDBillzFan Posted April 9, 2013 Share Posted April 9, 2013 Good ol' Paul Krugman. He knows Thatcher -- like Reagan -- wasn't really successful. http://krugman.blogs.nytimes.com/2013/04/08/did-thatcher-turn-britain-around/ Link to comment Share on other sites More sharing options...
GG Posted April 9, 2013 Share Posted April 9, 2013 Good ol' Paul Krugman. He knows Thatcher -- like Reagan -- wasn't really successful. http://krugman.blogs...ritain-around/ She didn't build that. Link to comment Share on other sites More sharing options...
OCinBuffalo Posted April 10, 2013 Share Posted April 10, 2013 Good ol' Paul Krugman. He knows Thatcher -- like Reagan -- wasn't really successful. http://krugman.blogs...ritain-around/ Saw that, was gonna start a thread on it along the lines of "Paul Krugman speaks ill of the dead, because he knows the narrative will be 'The Iron Lady' or, 'yet another history lesson in why Krugman is wrong' so he couldn't help himself but to try and head it off, what a shocker". But then I thought: why? The turd gets enough play around here anyway, and why would I want to send him web traffic? This is as good a place as any for that link. Link to comment Share on other sites More sharing options...
IDBillzFan Posted April 10, 2013 Share Posted April 10, 2013 This is as good a place as any for that link. As a rule of thumb, I try to go out of my way to find a place to post links before starting a new thread. Link to comment Share on other sites More sharing options...
TPS Posted April 18, 2013 Share Posted April 18, 2013 So much for that 90% break point... http://krugman.blogs.nytimes.com/2013/04/17/blame-the-pundits-too/ Link to comment Share on other sites More sharing options...
Magox Posted April 18, 2013 Author Share Posted April 18, 2013 So much for that 90% break point... http://krugman.blogs...he-pundits-too/ You do realize that this link says absolutely nothing, don't you? What a waste of time, thanks TPS Link to comment Share on other sites More sharing options...
DC Tom Posted April 18, 2013 Share Posted April 18, 2013 You do realize that this link says absolutely nothing, don't you? What a waste of time, thanks TPS You read it? I just assumed it said nothing. Link to comment Share on other sites More sharing options...
TPS Posted April 18, 2013 Share Posted April 18, 2013 You do realize that this link says absolutely nothing, don't you? What a waste of time, thanks TPS Try this one: http://www.bloomberg.com/news/2013-04-16/reinhart-rogoff-paper-cited-by-ryan-faulted-for-serious-errors-.htmlIt's been all over the news thought, their paper on debt levels and growth. Link to comment Share on other sites More sharing options...
Magox Posted April 18, 2013 Author Share Posted April 18, 2013 Try this one: http://www.bloomberg...us-errors-.html It's been all over the news thought, their paper on debt levels and growth. You mean an economist has a differing view than that of R and R? Thanks Link to comment Share on other sites More sharing options...
TPS Posted April 18, 2013 Share Posted April 18, 2013 You mean an economist has a differing view than that of R and R? Thanks No dipshit, their data included several errors, which means their conclusion about declining growth when the debt/gdp reaches 90% was exaggerated. Link to comment Share on other sites More sharing options...
Magox Posted April 18, 2013 Author Share Posted April 18, 2013 No dipshit, their data included several errors, which means their conclusion about declining growth when the debt/gdp reaches 90% was exaggerated. That's what their findings show.... Are you this mind numbingly thick-headed to where you can't see the difference between differences of each studies findings? I already know the answer, and let's just say you aren't the most intuitive person on this message board. The only thing that they could demonstrably cite to support a portion their thesis was the error in the spreadsheet. Which they have already stated doesn't change the dynamics hy all that much. The other main central point they make is debatable. Which is that they argue that certain data points are weighted too heavily. Which means nothing to me. Basically it's whose weighting do you believe, mine or yours? And of course R & R has much more credibility than these unknowns who happened to find a spread sheet error. Even after all their studies, they concede that higher debt does impact growth, which was the main point that R & R was making. Link to comment Share on other sites More sharing options...
....lybob Posted April 18, 2013 Share Posted April 18, 2013 No dipshit, their data included several errors, which means their conclusion about declining growth when the debt/gdp reaches 90% was exaggerated. well except for selectively picking data for a predetermined result, strangely weighting their data for a predetermined result, having a sloppy excel error , and not knowing the difference correlation and causation I'd say they did a fine job - and their middle school should be proud of the effort.................................................................. most amazing is countries used this study that was never even peer reviewed to make economic decisions that negatively effected tens of millions. Link to comment Share on other sites More sharing options...
TPS Posted April 25, 2013 Share Posted April 25, 2013 The verdict is in, Krugman won.... http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html Link to comment Share on other sites More sharing options...
DC Tom Posted April 25, 2013 Share Posted April 25, 2013 The verdict is in, Krugman won.... http://finance.yahoo...-150247189.html Greece will be happy to hear that. Link to comment Share on other sites More sharing options...
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