Paul Krugman: The Nation's most dangerous Economist.

denner · May 29, 2012

Quote from Lucrum:

Ricky never met a government program, entitlement, deficit, tax or debt he didn't like.

How someone could degenerate into such a mindset I'll never know.

He's a "case study"...in what I have no idea...

He supports every leftist issue verbatim...yet never misses an opportunity to relish in how great "inflation" has been to him personally. At the same time, he's very critical of the lack of regulation following the repeal of Glass Steagall...yet in the absense of this type of regulation, it's put the Fed induced asset inflationary cycle into overdrive...and easily could be argued that the growth of OTC derivatives from 2000-present created this tsunami of asset inflation that he is so fond of.

There's a big part of me that just thinks Ricter is here to "troll around" and stir the hornet's nest. There's another part of me that thinks that he hasn't thought thru these issues much, if at all...but he's not nearly as big of a pain in the ass as that dipshit brASS.

Ricter · May 29, 2012

Now that's not entirely true, pukrum. I think all transfer payments to the State of Georgia are a complete waste of money. I thank you for making that clear. : )

Tsing Tao · May 29, 2012

Quote from Ricter:

But blanket statements are ok if they're true, right?

Making a reference to the 4 or 5 common left posters here is not a blanket statement, especially when they have proved time and time again that they (you) have a lack of basic fundamental knowledge on the economy. Now, if you feel I have shown that I do not have a basic fundamental knowledge on the economy, I would be happy to debate you on ANY topic related to the economy - domestic or international. This is my second such offer to you in this thread alone.

Tsing Tao · May 29, 2012

Quote from denner:

He's a "case study"...in what I have no idea...

He supports every leftist issue verbatim...yet never misses an opportunity to relish in how great "inflation" has been to him personally. At the same time, he's very critical of the lack of regulation following the repeal of Glass Steagall...yet in the absense of this type of regulation, it's put the Fed induced asset inflationary cycle into overdrive...and easily could be argued that the growth of OTC derivatives from 2000-present created this tsunami of asset inflation that he is so fond of.

Because he cannot make the connection between the relaxation of regulation and the advent of speculative monetary policy.

Ricter · May 29, 2012

Quote from Tsing Tao:

Making a reference to the 4 or 5 common left posters here is not a blanket statement, especially when they have proved time and time again that they ...yada

Why, that's exactly why I think my blanket statement is true. How 'bout that!

Ricter · May 29, 2012

Quote from Max E. Pad:

It will come, they were the most heavily taxed state in the nation, combined with the fact that they had a 30 billion dollar budget shortfall he had to fix he had to cut tons of GOVERNMENT jobs, businesses will move back once they gain confidence that he will be there for a while, or do you think these businesses fleeing California for states like Texas and lower taxes is just a statistical anomally?

Do you really think people would be bitching at Obama if he had balanced the budget and unemployment was the same level it is right now? The reason people are bitching at Obama and the left is because on top of spending an extra 6 trillion dollars, and doing absolutely jack shit about the deficit job creation is brutal. Hell, If Obama had balanced the Budget while decreasing taxes, and unemployment was a full percentage point higher (9.1%) i would vote for him.

The fact is he spent like a drunken sailor and we got nothing for it.

By the way, the $6 trillion you mention includes non-discretionary spending, right? And it also has to be included to arrive at your "worst government spending as a percent of GDP" claim?

Anyway, bad times for austerity:

May 24, 2012 6:54 pm
Data deal blow to austerity plans

By Sarah OâConnor, Economics Reporter
ft.com

"So much for hopes Britainâs technical recession was just a statistical error. After a month spent gathering and crunching more data about the economyâs performance in the first quarter of 2012, the Office for National Statistics has decided Aprilâs âflashâ output estimate was not too pessimistic, but too optimistic.

<img src="http://im.media.ft.com/content/images/fa8c4594-a584-11e1-a3b4-00144feabdc0.img">

Article continues at ft.com:

http://www.ft.com/intl/cms/s/0/d464cc66-a5bf-11e1-a3b4-00144feabdc0.html#axzz1w8EV95Rz

Tsing Tao · May 30, 2012

Quote from Ricter:

Why, that's exactly why I think my blanket statement is true. How 'bout that!

Going to start referring to you as the "matador" because you never accept a challenge to back up your statements, just dodge to the side with an "ole'!"

Tsing Tao · May 30, 2012

Quote from Ricter:

By the way, the $6 trillion you mention includes non-discretionary spending, right? And it also has to be included to arrive at your "worst government spending as a percent of GDP" claim?

Anyway, bad times for austerity:

May 24, 2012 6:54 pm
Data deal blow to austerity plans

By Sarah OâConnor, Economics Reporter
ft.com

"So much for hopes Britainâs technical recession was just a statistical error. After a month spent gathering and crunching more data about the economyâs performance in the first quarter of 2012, the Office for National Statistics has decided Aprilâs âflashâ output estimate was not too pessimistic, but too optimistic.

<img src="http://im.media.ft.com/content/images/fa8c4594-a584-11e1-a3b4-00144feabdc0.img">

Article continues at ft.com:

http://www.ft.com/intl/cms/s/0/d464cc66-a5bf-11e1-a3b4-00144feabdc0.html#axzz1w8EV95Rz

First of all, all spending should be included in any discussion to cut. All.

Second, you can make all the commentary about austerity you want, but when you run out of money and can't borrow anymore, what is your alternative? Steal?

If, God forbid, you lose your job and your family looks at it's budget and realizes it can no longer afford all the bills it takes in, do you, as Ricter the Responsible, tell your family that austerity isn't going to work for the growth of the family - you have to spend more?

Max E. · May 30, 2012

Yeah, look at that hardcore austerity in the UK, they hardly even spent more then last year..... Look at those big Draconian cuts.... If they keep on at the current pace of "cutting spending" they might run the risk of eliminating the government altogether.....

Tsing Tao · May 30, 2012

Quote from Max E. Pad:

Yeah, look at that hardcore austerity in the UK, they hardly even spent more then last year..... Look at those big Draconian cuts.... If they keep on at the current pace of "cutting spending" they might run the risk of eliminating the government altogether.....

Hilarious! Very austere.

Keynesians really are the Grasshopper in the story with the Ant.