Posted on 10/29/2010 12:23:01 PM PDT by Schnucki
Sometimes I wonder if a Nobel Prize in economics means anything. I mean, not many of us would argue about physics with a Nobel prize winning physicist. But who believes what any economist says who doesn’t agree with your own opinion? They get no respect, and maybe deserve none. But I know they have been studying the Great Depression for decades now, and there seems to be some consensus among them as to how to deal with that sort of situation, which many have claimed is similar to our recent financial crisis, which is also similar, they say, to Japan’s “lost decade” in the 80’s and 90’s, which is again, a very well studied economic situation.
So sometimes I wonder if Krugman and his fellow economists might be right, and perhaps we are going to make the same mistakes we made in the past all over again. But is this an area for economic experts to be setting policy, or should political considerations be foremost in our mind? Or perhaps I should ask, what economists can we trust in these matters, or are they all no more helpful than astrologists?
I wonder how long the NYT will last after the mid-terms. This is why they are running scared. They are losing readers, credibility, and the fact that they propped up Obama will result in them being taken down with Obama.
The problem is that they aren’t sutdying history as it should in regards/relation to their subject. I noticed that just like the Ancien-Regime, people these days are living a lifestyle on credit and go figure, there was a collapse. Then of course, people who lived on speculation have lost their livlihoods because they didn’t have actual savings or a job with a skill. Now, with the death of our manufacturing industry, we as a country are going to end up wiht money worth as much as a peso.
“Set aside fear, put on boldness.”
Good advice. I suppose he’s fear-mongering to his party, trying to push them to the polls.
Is the Nobel Committee sending American's subtle hints?
"If we give the prize to an American politician, be sure to reject their politics."
Jimmuh "Peanut" Carter, Paul "Freddie" Krugman, Al Gorbaschev, Barak ibin Hussein bin Obama al-Kenyata.
yitbos
Pauline Kael. I remember her. Wat an out of touch twit. THANKS!!!
We had idiots in the old days—they just din’t have the power they do now. Frightening. Today, Pauline Kael would probably be a Supreme Court nominee.
“They’ll refuse to do anything to boost the economy now, claiming to be worried about the deficit, while simultaneously increasing long-run deficits with irresponsible tax cuts”
I can barely remember, but there seems to me to be some subtle connection between tax cuts and boosting the economy, but I can’t quite remember. What was it, again?
By the way, wherefor the worry? Can’t Obama just veto tax cuts?
Thanks. I found the original complete quote:
“I live in a rather special world. I only know one person who voted for Nixon. Where they are I don’t know. They’re outside my ken. But sometimes when I’m in a theater I can feel them.”
Round 2 has to be to strangle Obamacare in the crib, before it has a chance to gain dependent constituencies and metastasize, as it's creators intend.
It would be one the most important and noble accomplishments in the history of American politics; to finally actually turn course while still possible.
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