Krugman saddened by Obama economic moves-2/2

"The Zombie Ideas Have Won" - Paul Krugman on $1 Trillion Geithner Plan to Buy Toxic Bank Assets

Treasury Secretary Timothy Geithner is preparing to unveil a plan today to purchase as much as $1 trillion in troubled mortgages and other assets from banks. The government is reaching out to hedge funds, private equity firms and sovereign wealth funds to help buy the toxic assets. The Obama administration has described the plan as a public-private partnership, but most of the actual money will be put up by the government. We speak with Nobel Prize-winning economist and New York Times columnist, Paul Krugman.

Category:

People & Blogs

Tags:

• Paul
• Krugman
• geithner
• obama
• toxic
• assets
• bailout
• economic
• democracy
• now

[drewd1987]

This fucking moron is trying to push for a BIGGER stimulus bill..

Nothing fundamentally wrong??? LOL WOW...

[lzmaninc]

I've been following Paul's forecasts since long before the crash. He has been Right-On! Look up his track record.

[CarryANation]

Global labor arbitrage barely helps the poor Asians, screws the Americans, and profits the rich. It's a global slave labor system, and it won't last forever.

[ParsleyFoodGroup]

Mike Zephyr,

I just came back from a visit to Bangladesh, Nepal, India, Malaysia, Thailand, Cambodia and Laos.

If you think they hate us first-worlders because they make a dollar a day, you are quite wrong. Our economic structure allows us to export our production efficiencies and allows to produce things with cheap labor that we buy. Our knowledge has made the Asians far more productive, and has allowed many of them to survive rather than die as they are not forced to war internally.

[Azzaiel]

As you will see in the following months,these old concepts are obsolete.

Adverse to what we all know, and want to believe. the truth is not something we want to acknowledge, though we know it already.

[mikezephyr]

6:09

is terribly pathetic argument, basically krugman insists on free markets to exploit cheap labor intensive production, otherwise countries bound to globalization would starve.

how about breaking free of the chains?

[aau04372]

i used to think Paul Krugman would bend his line of argument solely to suit his alignment with the Democrats, what a lovely surprise this is