Really? because he was the guy one Olberman giving him status reports on the how the bail out terms and negotiations where going all during the crisis
@Salvysahagun The fact that he knew what was going on makes him a competent guest on the show. He is a professor. He is not in the administration. Really.
Perhaps you should watch those episodes of Countdown where Krugman cleary stated his was working in designing the bail out.
In many articles he concides the bail out was neccessary.
His analogy was "We are working on plugging the wholes in the dam, but have yet to actually fix" he was in Washington conducting negoticians at the time.
@Salvysahagun You seem to have some need to lie.Provide the link where "Krugman cleary stated his was working in designing the bail out". That never happened.
@Salvysahagun Yes. I believe he did say that. That is not the same thing as him "cleary stated his was working in designing the bail out. He didn't design the bail out. He didn't have anything to do with it. He indicated after the fact that he believed we should have owned the banks (or part ownership) after lending them all the money and regulated them more. I agree Dean Baker is my hero. Paul Krugman too though.
He was in Washington D.C. and participated in the design project. "We've been plugging holes in the dam but we still need to rebuild it". Those banks should have been siezed and liquidated in the best interest of the American people (Destroy Credit Card Debt, Student Loans, Municple bonds) Dirivatives should have been outlawed, Glass Steagal Reinstated, Banks, Investment House, and Broker Dealers should all remain seperate.
Nationalized FED, begin issueing Credit for recovery.
@Salvysahagun You mix fantasy with reality. Paul Krugman is not a negotiator for the left. He is a columnist, commentator, and college professor. You really should stick to the facts, plain and simple or subtle and complicated..
@Salvysahagun Sorry, I was talking about the stimulus package, not the bail-out. THe bail-out was crafted entirely by Treasury in a very short amount of time. It is only three pages long.
@Salvysahagun Economics is a bunch of numbers to every economist. Except maybe Austrian economists, who eschew all forms of empirical testing, modelling and calculations.
Economics is the things around you. The productive capacity/output, and the effiecency of labor are the two most important factors in any economy. Both of these cannot me measured in mere numbers. Keynes was an Imperalist and Austrians are fuedalist. Those both mean the same thing for you and me.
Economics is the world we live in. Things such as Henry Ford, Tennessee Valley Authority, Thomas Edison, The Interstate highway system, Arpanet, Steve Jobs, NASA, the New Deal among other things create a type of Wealth that no calculation could ever conjur. Its pretty anti-human to view the world we live, work and interact in ad a grid of numbers
@Salvysahagun Oh, I see what you are driving at. I basically agree. It's probably one reason why I'm not a fan of capitalism: the commodification of anything and everything.
@Salvysahagun Capitalism based on manufacturing and exports still leaves in place the employer-employee divide, and the market mechanism for allocating resources. It will just lead right back to the same thing all over again, given that it is inherent for the interests of the employer to contradict the interests of the working class.
@mojorhythm Markets are an inherently poor mechanism to allocate societal resources because the pricing mechanism does not take into account the effect that transactions have on third parties. In a capitalist economy, governments can deal with this problem by taxing negatives and subsidizing positives, but those regulations inevitably get weakened and/or removed by the employer class over time.
@Salvysahagun "I will advise you that Marx is a very dangerous figure."
That's kind of a blanket generalization as well.
It's irrelevant that FDR came from a family of bankers. His reforms saved capitalism from itself. If he did not, there would have been some kind of revolution. The working class was extremely militant during the GD, calling for socialism left, right and center.
State intervention is what makes Industrial Capitalism or Industrialism work. FDR knew that.. He was the last president to have a direct link to the American System of Economics and Alexander Hamilton. IE his Great grandfather Isaac Roosevelt co-founded the Bank of New York with Hamilton.
Socialism and Facism where on the rise where it not for FDR, The United States would have ceased to exist.
You realize during the American Gilded Age the prime reason for the bad working conditions was immigrants keeping labour standards low. Aswell as the Lincoln Republicans push for protectionism which enhanced American markets at very high levels.
@Salvysahagun That's right. It proves my point that you need massive state intervention to give capitalism a human face. In this case, border enforcement by the State keeps the reserve pool of workers artificially low, thereby raising the standards of living of the workers within those borders.
Why are Dean Baker and Paul Krugman 99% agreement?
Dean Baker in 2003 wrote a piece identifying the housing bubble.
in 2002 Paul Krugman state "Alan Greenspan needs to replace the NASDAQ bubble with a housing bubble"
Paul Krugman was one of the lead designers of the bail out
Dean Baker said that the provisions where a "joke" and the whole thing looked like "School Children wrote it"
Salvysahagun 3 months ago
@Salvysahagun Of course, Paul Krugman was not one of the lead designers of the bailout.
NoExitLoveNow 2 weeks ago
@NoExitLoveNow
Really? because he was the guy one Olberman giving him status reports on the how the bail out terms and negotiations where going all during the crisis
Salvysahagun 2 weeks ago
@Salvysahagun The fact that he knew what was going on makes him a competent guest on the show. He is a professor. He is not in the administration. Really.
NoExitLoveNow 2 weeks ago
@NoExitLoveNow
Perhaps you should watch those episodes of Countdown where Krugman cleary stated his was working in designing the bail out.
In many articles he concides the bail out was neccessary.
His analogy was "We are working on plugging the wholes in the dam, but have yet to actually fix" he was in Washington conducting negoticians at the time.
Salvysahagun 2 weeks ago
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@Salvysahagun You seem to have some need to lie.Provide the link where "Krugman cleary stated his was working in designing the bail out". That never happened.
NoExitLoveNow 2 weeks ago
@NoExitLoveNow
I can dig up some of his NYTimes Articles where agreed"this rescue was neccesary"
Got a few things to do right now. I'll get back to you with the link.
Dean Baker is the only progressive economist I admire btw.
Salvysahagun 6 days ago
@Salvysahagun Yes. I believe he did say that. That is not the same thing as him "cleary stated his was working in designing the bail out. He didn't design the bail out. He didn't have anything to do with it. He indicated after the fact that he believed we should have owned the banks (or part ownership) after lending them all the money and regulated them more. I agree Dean Baker is my hero. Paul Krugman too though.
NoExitLoveNow 6 days ago
@NoExitLoveNow
He was in Washington D.C. and participated in the design project. "We've been plugging holes in the dam but we still need to rebuild it". Those banks should have been siezed and liquidated in the best interest of the American people (Destroy Credit Card Debt, Student Loans, Municple bonds) Dirivatives should have been outlawed, Glass Steagal Reinstated, Banks, Investment House, and Broker Dealers should all remain seperate.
Nationalized FED, begin issueing Credit for recovery.
Salvysahagun 6 days ago
@Salvysahagun Whatever your beliefs about other subjects, it is a fact that Krugman did not design the bank bailouts.
NoExitLoveNow 6 days ago
@NoExitLoveNow
It is a fact that Paul Krugman was the lead negociator of the left. Dean Baker opposed the bail out while Krugman Supported. plain and simple
Salvysahagun 5 days ago
@Salvysahagun You mix fantasy with reality. Paul Krugman is not a negotiator for the left. He is a columnist, commentator, and college professor. You really should stick to the facts, plain and simple or subtle and complicated..
NoExitLoveNow 5 days ago
@NoExitLoveNow
I'll look into the interview he gave on Olberman where he was discussing the negociation process.
I'm a little busy now,
Salvysahagun 5 days ago
@Salvysahagun Krugman did not help design the bail-out. If he had, it would have been about ten times bigger. Krugman criticized it from day one.
mojorhythm 6 days ago
@mojorhythm
A 10 times larger bank bail out? that sounds like Krugman.
Salvysahagun 6 days ago
@Salvysahagun Sorry, I was talking about the stimulus package, not the bail-out. THe bail-out was crafted entirely by Treasury in a very short amount of time. It is only three pages long.
mojorhythm 6 days ago
@mojorhythm
Dig into some old Olberman videos. It was a video call. I'll dig it up when I get a chance.
Thats teh problem with Keynesians to them Economics is just a bunch of numbers.
Salvysahagun 6 days ago
@Salvysahagun Economics is a bunch of numbers to every economist. Except maybe Austrian economists, who eschew all forms of empirical testing, modelling and calculations.
mojorhythm 6 days ago
@mojorhythm
Economics is the things around you. The productive capacity/output, and the effiecency of labor are the two most important factors in any economy. Both of these cannot me measured in mere numbers. Keynes was an Imperalist and Austrians are fuedalist. Those both mean the same thing for you and me.
Salvysahagun 6 days ago
Comment removed
Salvysahagun 6 days ago
@mojorhythm
Economics is the world we live in. Things such as Henry Ford, Tennessee Valley Authority, Thomas Edison, The Interstate highway system, Arpanet, Steve Jobs, NASA, the New Deal among other things create a type of Wealth that no calculation could ever conjur. Its pretty anti-human to view the world we live, work and interact in ad a grid of numbers
2/2
Salvysahagun 6 days ago
@Salvysahagun Oh, I see what you are driving at. I basically agree. It's probably one reason why I'm not a fan of capitalism: the commodification of anything and everything.
mojorhythm 6 days ago
@mojorhythm
Define Capitalism.
Industrial Capitalism works, We have Finance Capitalism, Finance Capitalism does NOT work.
It should be renamed Industrialism, because right wing crack pots might try to Co-opt it again.
Salvysahagun 6 days ago
@Salvysahagun Capitalism based on manufacturing and exports still leaves in place the employer-employee divide, and the market mechanism for allocating resources. It will just lead right back to the same thing all over again, given that it is inherent for the interests of the employer to contradict the interests of the working class.
mojorhythm 6 days ago
@mojorhythm Markets are an inherently poor mechanism to allocate societal resources because the pricing mechanism does not take into account the effect that transactions have on third parties. In a capitalist economy, governments can deal with this problem by taxing negatives and subsidizing positives, but those regulations inevitably get weakened and/or removed by the employer class over time.
mojorhythm 6 days ago
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@mojorhythm
" regulations inevitably get weakened and/or removed by the employer class over time."
That was one of the most generalized statements I've ever heard in my entire life. It should be noted that FDR came from a family of bankers.
I will advise you that Marx is a very dangerous figure.
Look into Henry C. Carey, or Friedrich List.
Salvysahagun 6 days ago
@Salvysahagun "I will advise you that Marx is a very dangerous figure."
That's kind of a blanket generalization as well.
It's irrelevant that FDR came from a family of bankers. His reforms saved capitalism from itself. If he did not, there would have been some kind of revolution. The working class was extremely militant during the GD, calling for socialism left, right and center.
mojorhythm 6 days ago
@mojorhythm
FDR = Employer Class
State intervention is what makes Industrial Capitalism or Industrialism work. FDR knew that.. He was the last president to have a direct link to the American System of Economics and Alexander Hamilton. IE his Great grandfather Isaac Roosevelt co-founded the Bank of New York with Hamilton.
Socialism and Facism where on the rise where it not for FDR, The United States would have ceased to exist.
Salvysahagun 5 days ago
@mojorhythm
You realize during the American Gilded Age the prime reason for the bad working conditions was immigrants keeping labour standards low. Aswell as the Lincoln Republicans push for protectionism which enhanced American markets at very high levels.
Salvysahagun 6 days ago
@Salvysahagun That's right. It proves my point that you need massive state intervention to give capitalism a human face. In this case, border enforcement by the State keeps the reserve pool of workers artificially low, thereby raising the standards of living of the workers within those borders.
mojorhythm 6 days ago
Comment removed
Salvysahagun 3 months ago
This has been flagged as spam show
volume sucks on this video !!
SilkRouteTrader 4 months ago