[newfreep]

Big govt socialism always fails. ALWAYS.

[griswold3]

Krugman is a dolt!
Those that advocated this as a liquidity crisis should be boiled in oil.

[Paladin2]

Krugman sticks to Kenyanesian doctrine.

[blam]

Posted Yesterday:

G20: The Time For Stimulus Is Over, Long Live Fiscal Austerity>

[hinckley buzzard]

In short, we think the pain is unavoidable. It's just a question of what form it comes in and when.

Just as the Austrian school has been saying for decades. Glad to see Krugman has finally grasped the rudiments of macro-economics even at this late date.

[blam]

Do Deficit Hawks Think Market Signals Are Totally Meaningless?

Joe Weisenthal
Jun. 6, 2010, 9:44 AM

Paul Krugman is now totally convinced that we're headed for (another?) lost decade, as he's particularly bummed by the G20's call for greater austerity in a time of continued economic weakness.

The last line of his latest post is important:

Yet the conventional wisdom now is that these countries must nonetheless cut — not because the markets are currently demanding it, not because it will make any noticeable difference to their long-run fiscal prospects, but because we think that the markets might demand it (even though they shouldn’t) sometime in the future.

Whether you think Krugman's "spend, spend, spend" philosophy is right or not, you have to acknowledge this much to be true: The market is giving zero indication that it's concerned about US spending. The dollar is strengthening and yields are falling.

The hawks may say "sure, but look at Greece," to which the non-hawks can say "sure, but look at Japan" and of its decades of rising bonds and a stronger currency, amidst the backdrop of more and more debt.

But apart form the theoretical, is it reasonable to say that deficit hawks -- usually so obsessed with market signals -- have decided this is a big one we can freely ignore, since it doesn't align with ideology?

[Brilliant]

Hey Paul... We’re already experiencing an economic disaster thanks to the fact that these same governments took your advice and ignored their debt.

[Scott from the Left Coast]

Well, I agree we are entering a lost decade...hell, maybe a dark ages...but that’s about the limit of my agreement with Krugman. His prescription is ludicrous, and practically impossible at this point anyway.

[Travis McGee]

J.M. Keynes's “long run” is finally here.

That childless old queen is dead, but we are not, and we are now trapped in his inevitable end game.

"There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved."

~~Ludwig Von Mises

[Huskrrrr]

Spending our way into prosperity? It’s been tried.

[blam]

Here's Niall Ferguson's Complete And Definitive Guide To The Sovereign Debt Crisis

[jpl]

Krugman is a total hack and a joke. As soon as the republicans are back in power once again, he'll instantly become the same deficit hawk that he was up until a little more than a year ago.

And for him to try to completely ignore what is going on in Europe and pretend that he knows what they need more than they do is laughable.

[blam]

Prepare NOW: They "Get It"

[MNJohnnie]

Someone needs to explain to these dolts that the “Lost Decade” was CAUSED by the Japanese Government trying to spend it's way to prosperity. The “solutions” morons like Krugman are prescribing for “fixing” the economy is what is causing this “Lost Decade”

[blam]

Paul Krugman and P. Diddy....Together In A Movie??

[Marty62]

Krugman is a pathetic Dum shill masquerading as a columnist.

[The_Reader_David]

The man is an idiot, even in his choice of words. “Lost decade” is the standard Englishing of the Japanese description of the period of stagnation in the Japanese economy created by attempting to drag the economy out of a recession with exactly the sort of Keynsian “stimulus” policies Obama is pursuing and Krugman is defending. If there was any question about the validity of the analysis that showed that the New Deal prolonged the Great Depression, the Japanese Lost Decade should have put it to rest.

[fhayek]

An economy must produce at least as much as it consumes over time or it will collapse . You do no need a Nobel Prize in economics to understand this.

[Oceander]

Go to H*ll Krugman, it was your patently false Keynsian policies that got us into this mess in the first place, so STFU.

"Hair of the dog that bit ya" doesn't work for hangovers, of the alcoholic or the fiscal sort.

Stupid liberal

[dr_who]

Washed up speechwriter/poser extraordinaire Peggy Noonan is two miles behind the bandwagon. The lefty nobel prizewinning economist/goon Krugman is five miles behind the bandwagon.