The top 100 stock
market authors
selected for publication
market authors
selected for publication
Thursday, December 31 2009 |
05:03 EDT |
DJIA (DIA)
S&P 500 (SPY)
- Paul Krugman says we have averted a second Great Depression, and why? The different role played by government. "Ronald Reagan was wrong: Sometimes the private sector is the problem, and government is the solution."
-
The Seeking Alpha 100
See all
Seeking Alpha 100 » -
Fastest Climbers
Authors with the largestSee all
increase in followers
in the last 7 days
Fastest Climbers » -
Top Commenters
Top commenters,See all
as ranked by their peers
Top Commenters » -
Top Instabloggers
The 100 most activeSee all
Instabloggers.
Top Instabloggers » -
Top StockTalkers
TopSee all
StockTalkers.
Top StockTalkers »
This news story has 22 comments:
Geithner's big plan will involve the perpetual request to increase the national debt ceiling -- that's essentially his entire strategy.
I can pay all my bills today too if I borrowed a million dollars. Politicians are the same as Wall Street traders -- they all need to generate big time short term results -- even if it means doing things that are detrimental four (or eight) years from now.
What does Obama care about more: America, or his polling numbers? Be honest.
So many things wrong in two sentences. I actually had some bile come up my throat after reading that.
Has the banking industry (and GOV oversight) inadequacies/practices that got us into this mess been reformed? NOPE
Has the FED stopped pumping over $200B/month into the economy to shore it up? NOPE
Is industry creating new jobs? NOPE
Is the Gov showing any signs of budgetary/fiscal responsibility? NOPE
Conclusion: The worst is over!
God I miss Ronald Reagan.
They are not average Americans.
The do not know what it means to work hard, to worry about life's issues other than ones health. Nothing.
To them, their absurd statements are just that: absurd.
This is play time for them. They make their statements and if they are wrong, so be it. There is no accountability.
Does Krugman even give a second thought to the debts now owed, to the burdens being placed on further generations.
For goodness sakes no. His life, the life of his family and heirs is now set.
They are the elitist class. They will never want to for anything and will never know the struggles of average Americans.
Krugman did cause the housing bubble.
Why do we still hear from this guy?
How can you fine folks argue that this is not true?
And he thinks that by wasting trillions of taxpayer dollars buying up worthless morgages, broke banks and auto companies, political payoffs disguised as stimulus, and now on subsidized car purchases, government has "saved" us.
God save us from these elite, liberal fools.
Krugman's assumption though is that we are passed the worst... I don't buy it yet. We need to see some positive job growth, realistic market valuations, and improved banking/financial oversight, otherwise I think we (as a nation) are all just fooling ourselves. Perhaps the biggest issue right now is trust: I don't trust much of what the Gov is saying about the economy, what the Ratings agencies have to say about anything, what the Politicians are saying... etc.
We have too few data points to come to such a wild conclusion as to say that the worst is passed us or that we have dodged a recession.
On Aug 10 11:51 AM Vox Rationalis wrote:
> "The point is that this time, unlike in the 1930s, the government
> didn’t take a hands-off attitude while much of the banking system
> collapsed. And that’s another reason we’re not living through Great
> Depression II."
>
> How can you fine folks argue that this is not true?
> I would argue
> they went too far as opposed to arguably doing too little during
> the 30's...
Wait - there's an argument about whether the government did enough or not enough during the 1930s? Really?
> I've got a bad taste in my mouth about how they chose
> which banks would fail, and which ones were "too big to fail".
The perhaps you agree with Krugman: "You can argue (and I would) that the bailouts of financial firms could and should have been handled better, that taxpayers have paid too much and received too little. Yet it’s possible to be dissatisfied, even angry, about the way the financial bailouts have worked while acknowledging that without these bailouts things would have been much worse."
> Krugman's assumption though is that we are passed the worst...
> We have too few data points to come to such a wild conclusion as
> to say that the worst is passed us or that we have dodged a recession.
Point of fact, nobody's claiming we dodged a recession. But more importantly, if you don't think the danger of a far more significant recession/depression is lower today than it was late last year, you really don't understand what was happening then.
This article will be a fantastic read in a few years- it reminds me of a book I saw called God's Timetable for the 1980s. About how Gorbachev was the Antichrist, and there would be nuclear war in 1986. Quite amusing read in 1998...
On Aug 10 11:51 AM doubleguns wrote:
> YH, get your smoker going.
On Aug 10 12:11 PM cyclingscholar wrote:
> Krugman is such a useful idiot, as Stalin used to say. The whole
> bubble was caused by the FED keeping interest rates TOO low for TOO
> long...primarily so congress could finance its deficits cheaply.
> And this is a private sector problem? :)
Humpty Dumpty fell in a tank,
All the King's horses a**es and all the King's men
Have destroyed the economy for their own gain.
I don't see any way to unscramble the omlette we're creating.