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U.S. FINANCIAL CRISIS HAS GIVEN CAPITALISM BLACK EYE
New Perspectives Quarterly ^ | June 05 2008 | Gary Becker, Myron Scholes, Michael Spence and Ed Phelps

Posted on 06/16/2008 9:32:10 AM PDT by JerseyHighlander

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Most interesting article that came through my rss feeds today. I am not so egotistical as to add comments to these Nobel Laureates opinions, they speak for themselves.
1 posted on 06/16/2008 9:32:11 AM PDT by JerseyHighlander
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To: JerseyHighlander

Oh, now it’s a financial crisis? Am I the only one who thinks this sky-is-falling hysteria is just nonsense? I don’t know about anyone else, but in my day-to-day life, I am not seeing “financial crisis.” I pay quite a bit more to fill my gas tank, and a little more for some groceries (milk, mainly.) Other than that, I ‘hear’ about the crisis. I ‘read’ about the crisis. But I don’t see the crisis.


2 posted on 06/16/2008 9:37:42 AM PDT by A_perfect_lady
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To: JerseyHighlander
Most interesting article that came through my rss feeds today. I am not so egotistical as to add comments to these Nobel Laureates opinions, they speak for themselves.

Let me embolden you. Al Gore is a Nobel laureate. Comment away.

3 posted on 06/16/2008 9:39:50 AM PDT by Myrddin
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To: A_perfect_lady
But I don’t see the crisis.
You just aren't looking hard enough like ...

4 posted on 06/16/2008 9:42:50 AM PDT by oh8eleven (RVN '67-'68)
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To: A_perfect_lady

Of course it’s a crisis to anyone opposed to Capitalism.

Definition of Crisis: A highly volatile dangerous situation requiring immediate remedial action.

Which that remedial action would be either Socialism or Marxism.

I think the crisis news services we get should look up a thesaurus, crisis is getting so old.

Plenty of other terms to describe desperation to sell news such as;

apoplexy, catastrophe, climacteric, climax, conjecture, conjuncture, convulsion, criticality, crossroads, cruciality, crux, dilemma, emergency, exigency, impasse, juncture, panic, paroxysm, pass, peril, pinch, predicament, seizure, trauma, trial, trouble.


5 posted on 06/16/2008 9:48:43 AM PDT by A message
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To: A_perfect_lady

unemployment at around 5%, steady growth,....i have to agree with you, the only crisis is media hype


6 posted on 06/16/2008 9:49:00 AM PDT by joe fonebone (The Second Amendment is the Constitutions reset button)
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To: Myrddin; JerseyHighlander
Al Gore is a Nobel laureate.

As is Jimmah Cahtah, Yassir Arafat, Kofi Annan, Nelson Mandela, etc., etc.

7 posted on 06/16/2008 9:49:27 AM PDT by facedown (Armed in the Heartland)
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To: Myrddin

If you do not understand the difference between the Nobel prize for economics and the Nobel Prize for whatever it was that Gore received, there isn’t much to say.

The Nobel Prize for Economics is one of the top five most prestigious Economics awards in the world.

And you and I agree on the worthlessness of which ever Nobel prize Al Gore won. (Peace prize?)


8 posted on 06/16/2008 9:51:43 AM PDT by JerseyHighlander
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To: JerseyHighlander

Funny not one word on how the DEMOCRATS and their Marxist views and regulations is responsible for the current downturn. Oil is high, because DEMOCRATS refuse to allow us to drill. The reason always given is the ENVIRONMENT. Not even the communist countries believe this. Right now RED CHINA is drilling 50 miles off the coast of FLORIDA, in an area given to Cuba by Jimmy “Afraid of rabbits and everything else” Carter.


9 posted on 06/16/2008 9:51:53 AM PDT by Exton1
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To: JerseyHighlander

How does what is happening in the US “give capitalism a bad name”? As far as I can tell, the problems currently plaguing the US (mortgage crisis and high fuel costs) are due to government INTERFERENCE with capitalism. High fuel costs are due to failure to drill for oil wherever it can be found, and failure to construct new refineries.


10 posted on 06/16/2008 9:53:32 AM PDT by Wonder Warthog (The Hog of Steel-NRA)
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To: A_perfect_lady

I absolutely agree.

In fact, a few months ago I was called at work by a writer for a paper here (she had my contact info thanks to writing an article about my coalition group years ago when I was president) asking my opinion about the economy.

She reeled off the standard wisdom that we’re in a recession and things are bad. She wanted my take on that opinion.

I said it was nonsense, and asked her to think herself and ask others if they REALLY even know any 2nd-hand people who have lost jobs (any kind) or had to demote their living quarters or their “lifestyles” to get by in this allegedly horrible recession.

I said I knew of no-one who had such circumstances, and neither have I seen any changes just passing by local towns and such. Nothing that would indicate to me anything is really “bad”.


11 posted on 06/16/2008 9:53:42 AM PDT by the OlLine Rebel (Common sense is an uncommon virtue.)
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To: JerseyHighlander

The title doesn’t seem to match the article. The second half of the article is composed of comments by econoimists that refute the statement that we’re in a financial crisis.


12 posted on 06/16/2008 9:55:05 AM PDT by kidd
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To: JerseyHighlander

(Peace) It’s worthless for sure, but even more devalued by the fact I have no idea how pushing “green” crap ties in with “peace”.


13 posted on 06/16/2008 9:55:39 AM PDT by the OlLine Rebel (Common sense is an uncommon virtue.)
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To: JerseyHighlander

Give me a one armed economist, at least he won’t be able to say “on the other hand”.


14 posted on 06/16/2008 9:56:31 AM PDT by griswold3 (Al qaeda is guilty of hirabah (war against society) Penalty is death.)
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To: JerseyHighlander

They are talking through their hats.


15 posted on 06/16/2008 9:58:39 AM PDT by RightWhale (I will veto each and every beer)
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To: A_perfect_lady

I ‘hear’ about the crisis. I ‘read’ about the crisis. But I don’t see the crisis.

You won’t hear about a financial crisis after they put in Obamma in office. The MSM will declare a sudden recovery as if by a miracle and declare our economy is better than it has been in years, thanks to Obama and the brilliant Democratic leftist party.


16 posted on 06/16/2008 10:02:13 AM PDT by Bitsy
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To: A_perfect_lady
Am I the only one who thinks this sky-is-falling hysteria is just nonsense?

Nope, I've been saying so for some time now.
17 posted on 06/16/2008 10:04:15 AM PDT by arderkrag (Libertarian Nutcase (Political Compass Coordinates: 9.00, -2.62 - www.politicalcompass.org))
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To: Exton1

China is not drilling off the coast of Cuba. Dick Cheney’s office has corrected his statement Friday, and it’s easily found on google or yahoo.


18 posted on 06/16/2008 10:05:52 AM PDT by Crystal Cove
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To: Bitsy
You won’t hear about a financial crisis after they put in Obamma in office

Oh yeah. Remember how all the homeless vanished from the news the day Clinton took oath? It was like homes just sprang out of the earth the minute he put his hand on the Bible.

19 posted on 06/16/2008 10:15:02 AM PDT by A_perfect_lady
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To: Wonder Warthog

I also notice that, for some reason, starvation, slaughter, and chaos all over Africa never manages to give neo-marxism a bad name. Genocide and the common slide-into-fascism tendency never gives socialism a bad name, at least, not among Nobel Laureates.


20 posted on 06/16/2008 10:17:15 AM PDT by A_perfect_lady
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