TimesTalks: Paul Krugman: The Clock is Ticking

[MrNeilPRay]

For a Nobel Prize winner krugman doesn't seem very smart. 6.3 percent unemployment in late 2010, try 10 percent dumbass.

[FreakishDonQuixote]

@MrNeilPRay lol @ funny selfown.

[FreakishDonQuixote]

@MrNeilPRay haha. you don't seem very smart either. good selfown.

[gunsandbullhorns]

This guy doesn't understand the business cycle.

[ProsecuteCheneyEtAl]

Reality has a well-known liberal bias.

[islandmuffin]

@ProsecuteCheneyEtAl Study finds Paul Krugman is the most partisan economist. Krugman was the only economist to "significantly" change his stances for partisan reasons. Krugman has even gone so far as to contradict his own findings to bash Republican politicians. - Brett Barkley, Econ Journal Watch, May 2010

[islandmuffin]

The peer-reviewed research was published in May 2010 issue of the Econ Journal Watch (EJW), edited by Daniel B. Klein.

Seven Nobel laureates are members of the EJW Advisory Council.

[dontliethetruth]

@islandmuffin you can shove your "study". dont you think we know that Econ Journal Watch is a libertarian/hack publication by the right wing think tank Atlas economic research Foundation whose president said in the late 80s "our mission is to litter the world with free-market think-tanks."

peer-review, if all "peers" are selected on ideological basis, is no substitute for actual scientific peer review.

spare us the pseudo-academic posturing and let the big boys do their work.

[islandmuffin]

@dontliethetruth Show us empirical proof that Keynesian economics has worked ever, or pull your “socialism on demand” hands out of your deficit expanding arses.

[ProsecuteCheneyEtAl]

Oct. 2 2009 (Bloomberg) -- The U.S. faces the possibility of deflation for the first time since the Eisenhower administration, a threat that may prompt the Federal Reserve to keep interest rates near zero through next year.

... Kroger Co., the largest U.S. supermarket chain, blamed deflation for a 7 percent drop in earnings in the second quarter, while falling prices ...electronics left August sales unchanged at Costco ... A sustained price drop might set off a chain reaction ...

[AFRIKTODAY]

This dude is mentally retarded: How do you cause a deflation by increasing the money supply to a 46 years high; and, the simple fact that the fractional reserve banking system on itself is a debt perpetuating system, adding trillions of dollars of paper will only cause a high amount of inflation and ruin the purchasing power of millions of Americans. This guy is a fool and a total block with no understanding of the simple concept of money.

[shankyxyz]

dude dont be silly, i dont like Krugman either. but credit is the same as money in fractional banking system of today. so credit has collapsed by 14 Trill $ in the last 2 years. So unless money supply increases more than that, and that money gets spent into circulation, it cant cause inflation.

[AFRIKTODAY]

Credit has collapsed by 14 trillions? And how much money has the fed pumped into the economy? What is the value of the dollar today compared to years ago? What are you talking about? A bottle of water now cost 2 bucks in some store? A bottle of soda is 1.5 dollars? Have you walked the alleys of food chains or tried to buy some shoes on the internet? Have you traveled in Europe recently? Let's not talk or argue in vague nonsensical terms here bud! Just check around you and tell!

[shankyxyz]

look, i didnt say there is no inflation. but in the last 1 year, till this year March 09. there was a bit of deflation, reflected also by the dollar index rising to new highs. it is getting gradually unwound becuz of huge govt spending.i am not denying what u are saying, but most monetarists and austrians dont notice the massive loss of credit in the market.the FED has just recently managed to create around 15 Trill, but most of the money has not been spent into circulation.

[shankyxyz]

rather it has gone into banks rebuilding their capital.if u just go by the increase in the FED's balance sheet we should have had 100 % inflation in this financial year.

[AFRIKTODAY]

We agree on most points indeed, however, the quantitative easing is much more a political issue than a real economic policy. Most of our recent government have relied on wall street for their financing, the fed being the primary provider of fund for all sorts of wars and projects. The issue at hand isn't really about economics laws or even school of thought as far as I am concerned!

At the end of the day, who pays the price? That's the bottom line here!

[Hellerium]

Scary shit.

[Matt12287]

0:26 2 2010...WHAT!?