Seeking Alpha

While S&P raters "are the last people whose judgment we should trust," Paul Krugman says the...

While S&P raters "are the last people whose judgment we should trust," Paul Krugman says the U.S. does have big problems "caused by the rise of an extremist right that is prepared to create repeated crises rather than give an inch on its demands." The big question, he says, is "whether the extremists now blocking any kind of responsible policy can be defeated and marginalized."
Comments (29)
  • Tony Petroski
    , contributor
    Comments (6373) | Send Message
     
    It's Monday and Krugman (Nobel Laureate) is wheeled out?
    8 Aug 2011, 05:41 PM Reply Like
  • warrenrial
    , contributor
    Comments (561) | Send Message
     
    Krugman has to be the biggest idiot on two feet.
    8 Aug 2011, 05:44 PM Reply Like
  • Not_a_planner
    , contributor
    Comments (183) | Send Message
     
    you sound quite accomplished yourself
    8 Aug 2011, 05:58 PM Reply Like
  • pasqual623
    , contributor
    Comment (1) | Send Message
     
    Not really...he makes millions as one of the high priests of the left. Pretty smart if you ask me.
    8 Aug 2011, 06:14 PM Reply Like
  • Vuke
    , contributor
    Comments (1666) | Send Message
     
    Perhaps Mr. Krugman could explain why extremists on the left never once propose government could cut its own wages and benefits by 20% (or more) so as to be less of a drag on the private sector.

     

    Extremists come in all shapes and colors. They do, however, share rigidity of thought.
    8 Aug 2011, 05:45 PM Reply Like
  • WMARKW
    , contributor
    Comments (10700) | Send Message
     
    Yep Vuke....and regidity of thought is not necessarily a bad thing....depending on the nature of the thought. Clearly the thinking our our leaders for the last several decades has been the precursor of some pretty wretched actions. How is it that people who are supposed to be so smart have been so unsuccessful?
    8 Aug 2011, 06:13 PM Reply Like
  • Poor Texan
    , contributor
    Comments (3533) | Send Message
     
    If we would switch all the government pension programs over to social security, our 'governors' would fix up our fiscal mess quickly.
    8 Aug 2011, 06:45 PM Reply Like
  • WMARKW
    , contributor
    Comments (10700) | Send Message
     
    Tex....careful what you ask for. I am hoping that they don't go after IRA's and 401k's as a means of "revenue" enhancement. Some suggest we'll soon see restrictions on pulling money out of CD's as well.
    8 Aug 2011, 07:05 PM Reply Like
  • DinNYC
    , contributor
    Comments (75) | Send Message
     
    lol @Tony . he is getting downright farcical. The closing bell on CNBC had an excellent analyst on who calculated that 57% of our GDP goes to entitlements. 20% to military, 16% for discretionary, and I forget what the rest went to. Paul krugman should be arrested instead of the had of standard and poors (as michael moore would like).

     

    YOU HAVE TO CUT ENTITLEMENTS, KRUGMAN. How can you be a Nobel laureate and have this degree of fantasy mathematics bouncing around in your brain???
    8 Aug 2011, 05:46 PM Reply Like
  • Bouchart
    , contributor
    Comments (805) | Send Message
     
    This rest is probably interest and principle payments on debt.
    8 Aug 2011, 05:59 PM Reply Like
  • Tony Petroski
    , contributor
    Comments (6373) | Send Message
     
    Sorry--The Nobel people gave him another Economic prize.

     

    Meantimes our community-organizer-in chief
    ... earned another Nobel for his work in Libya.

     

    (Will the Nobels shut up?)
    8 Aug 2011, 05:52 PM Reply Like
  • pat45
    , contributor
    Comments (393) | Send Message
     
    medicare really needs to be reworked-we spend way over $100,000 on a dying old person- no questions asked. Try that with any standard health plan!! I am also in favor of choice to die for people who have severe problems-and no I am not talking about death camps!
    8 Aug 2011, 05:54 PM Reply Like
  • Terry330
    , contributor
    Comments (870) | Send Message
     
    The tea party group want to destroy the US and form a new government with low-low taxes like Mexico and 90% of families are in poverty with no food stamps, social security, retirement. The wealthy will own 99% of everthing.
    8 Aug 2011, 05:55 PM Reply Like
  • jafluc
    , contributor
    Comments (7) | Send Message
     
    No, we want to restore the original intent of government and let people have a chance at the "pursuit" of happiness. You democrat and republican politicians already ruined the system long before the tea party movement began a few years ago. Read your history and your constitution, assuming your public education even provided those skills.
    8 Aug 2011, 06:13 PM Reply Like
  • haruglory12
    , contributor
    Comments (54) | Send Message
     
    I rather have that than the Weimar Republic. Your trotskyite hero Obama policies have helped the economy so much right?
    8 Aug 2011, 06:15 PM Reply Like
  • Windsun33
    , contributor
    Comments (4308) | Send Message
     
    Now I see why Terry never chimed in with her own personal thought before. Go back to cut-and-paste, Terry, you sounded much less radical and uninformed when you just copy from Wikipedia.
    8 Aug 2011, 07:44 PM Reply Like
  • Bouchart
    , contributor
    Comments (805) | Send Message
     
    Paul Krugman is the last person whose judgment we should trust. What a chump.
    8 Aug 2011, 05:59 PM Reply Like
  • Bear Bait
    , contributor
    Comments (690) | Send Message
     
    I agree with Krugman. Defeat the Teabaggers and return the Republican party to the Republicans and not the lunatics and their supporters.
    8 Aug 2011, 06:01 PM Reply Like
  • Tony Petroski
    , contributor
    Comments (6373) | Send Message
     
    Mr. DinNYC--thanks--that was my intention, a man needs to laugh.

     

    As for Mr., Ms. (whatever) Terry330, this was her/his (whatever) contibution:

     

    "The tea party group want to destroy the US and form a new government with low-low taxes..."

     

    That's not quite true-- the tea party group doesn't want to destroy (correct English, but who's counting) the US--it is true that they hope for change and want low taxes.
    8 Aug 2011, 06:04 PM Reply Like
  • stan33man
    , contributor
    Comments (132) | Send Message
     
    Thanks, Tony for your voice of reason on this forum. As for those in agreement with Krugman the Laureate, more of the same from delusional liberals.

     

    The "Teabaggers" and "right-wing extremists" got us into this mess, right? What we really need to do is RAISE taxes on the job providers who already pay 75% or more of the taxes in this country. Yeah, that will work. Punish those "evil rich". You people are pathetic.

     

    The "teabaggers", as you so eloquently refer to them, are true patriots who are sick and tired of corrupt govt. officials - on both sides of the aisle - who tax & spend like there's no tomorrow, then try to blame the mess we're in on someone else.

     

    These crooks play by their own rules, and don't give a damn about the rest of us. The Tea Party Patriots are saying ENOUGH - it's time to take this country back from the politicians and their cronies.

     

    I'm still hoping and praying it isn't too late.
    8 Aug 2011, 06:18 PM Reply Like
  • John Steinmetz
    , contributor
    Comment (1) | Send Message
     
    Countries with smaller government and less regulation have always outperformed governments that take more GDP and regulate more, regardless of natural resources. Hong Kong, Japan and South Korea are examples.

     

    When Gorbachev asked Margeret Thatcher, how she could feed her people, Margaret said that the free market and prices take care of it. Paul Krugman and Terry330 should study Economic history and read Milton Friedman and Thomas Sowell.

     

    Most of the East Coast Econ Professors are liberal Keynesians. Theory sounds good, but in practice, big government fails.
    8 Aug 2011, 06:13 PM Reply Like
  • WMARKW
    , contributor
    Comments (10700) | Send Message
     
    Good Lord....after reading Krugman's article....I don't have any doubt that half of us could qualify for a Nobel. The man says nothing. He is a typical liberal name caller. Let's see YOUR plan Mr. Krugman. Your article speaks in broad generalities and doesn't in any way identify a single issue that as a liberal you would suggest fixing....except getting rid of the "right" who makes all liberal lives an arena of angst.
    8 Aug 2011, 06:21 PM Reply Like
  • User 487974
    , contributor
    Comments (1105) | Send Message
     
    Hey Paul, no one is listening, or reading for that matter. Your ridiculous nonsense has reached its end of any logical usefulness. I suppose the Jeanne Garafalo/ Sean Penn progressives are about the last few readers of the now deceased New York Times.

     

    This progressive / socialist administration is about to be revealed, and for exactly what has been killing the US since Obama came into office. These policies and all the excess regulation/intrusion into the free markets is about to end. The pain will be legion!
    Look to God. Look to each other!
    Look inward, we are Americans! We will overcome all the hatred and racist name calling, we will rise above the "Saul Alinsky" targeting, marginalizing, and attacking your enemy!
    Light always beats darkness.
    The problem is we are our own,self made enemies. It's the progressive/socialist way. Divide and conquer. I say make a stand! Is15 %, is that to much to ask? Maybe it is, 10%, if we can get 10% of Americans to stand up, with pride and love in their hearts, and say, "Enough is enough", no more of this insanity. Just think what we could do for America.
    John Kerry is out accusing a segment of Americans, who feel so wronged, they are standing up to this big government knows best leviathan. Kerry is quick to attack and dis- credit the tear party people. Tea party? Its still Americans John. We are Americans and have a right to be heard and respected, John.

     

    May God watch over this wonderful little experiment in freedom we call America
    Jerry
    8 Aug 2011, 07:31 PM Reply Like
  • Windsun33
    , contributor
    Comments (4308) | Send Message
     
    Krugman is just following the party line on the latest Tea Party bashing. What they all seem to ignore is the fact that the chairman of S&P pretty much said that if congress had passed what the Tea Party wanted, there would have been no downgrade. S&P emphasised the total amount of debt in the US, which is projeced to double by 2020 at present rates.
    8 Aug 2011, 07:59 PM Reply Like
  • coddy0
    , contributor
    Comments (1182) | Send Message
     
    Jerry369
    John Kerry is out accusing...
    ======================...
    Speaking of Kerry
    H.J. Heinz is down big time, after John's has spoke

     

    I have took pledge to increase my exposure to HNZ, when Y reaches 5%.
    8 Aug 2011, 08:06 PM Reply Like
  • Reconsidering
    , contributor
    Comments (47) | Send Message
     
    What a bunch of idiotic comments! Has any of you actually read Krugman's posts on his NYT blog? I bet most of the people who commented negatively on Krugman's you voted for GW 2x. The reality is that the prescription to put back the economy on its way to full recovery and eventually expansion goes through the precepts of the keynesian theory, that is an increase in govt expenditure will jump start the economy via increase in demand. Time and again neoclassic economics has been proven wrong (when was last time that Bush tax cuts generated jobs? please do look at statistics @ the St Louis Fed web site).

     

    Oh, by the way, the remaining countries AAA rated by S&P all have public one-payor health care for their citizens! I think because it is cheaper :)
    9 Aug 2011, 12:11 AM Reply Like
  • DinNYC
    , contributor
    Comments (75) | Send Message
     
    Great idea Einstein. So we will increase our debt even larger to support growth and then have moodys and fitch join in on the downgrades and then tank equity markets even further? Not only do liberals like you enjoy spending other peoples money, you'll do it even when it doesnt make sense. There has been massive government spending to "stimulate" the economy and it ...HAS....NOT....WORKED. Because behind every liberal politician and liberal such as yourself is NOT the desire to elevate the downtrodden, it is to pull down the successful because of your liberal guilt. This president has followed the perfect leftwing formula for cracking and crumbling American hegemony. Thats every liberals dream, to see America no longer be an economic, military and political superpower. Because you jerkoffs think its unfair that we have so much in America, so you pretend you want to stimulate but secretly you and people like Krugman know the devaluing of the dollar will reduce our international standing.

     

    The only point of agreement i have with this numbskull is that the tax cuts should be reworked where you get a benefit from them IF AND ONLY IF you hire. We give "incentives" to hire but then we get a president out in the media everyday attacking ceo's and corporations and so they get scared and dont put the tax cuts to work. There should be a simple formula we follow where your tax reduction is directly equivalent to REAL hirings. Quid Pro Quo.
    9 Aug 2011, 08:09 AM Reply Like
  • Windsun33
    , contributor
    Comments (4308) | Send Message
     
    Give me one single example of when Krugman's (Keynes) formula has worked?

     

    Most people - like Krugman - only want to use one side of what Keynes said. They ignore the part about where he said in good times to build up a pot of cash to dump into the economy if it goes bad. Not one single country has ever followed that part of the Keynes theory.
    9 Aug 2011, 12:07 PM Reply Like
  • DinNYC
    , contributor
    Comments (75) | Send Message
     
    THANK you windsun
    10 Aug 2011, 08:10 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs