Paul Krugman goes all Christian Bale

What if Paul Krugman went all Christian Bale?

Category:

News & Politics

Tags:

• cursing
• funny

[ekeyra]

@majinspy So i noticed you didnt want to touch the part about the federal reserve's very crucial role in the entire mess. The failure is government manipulation of interest rates which leads to moral hazards and massive mis-allocation of resources. Also please address the fact that any stimulus money spent by the government was taken by gunpoint from someone who actually earned it in the first place.

[majinspy]

@ekeyra I would disagree on only 2 points. The part about the government forcing the low lending standards is false / misleading. Loans done under those laws were very very few. It was mostly the advent of new securities where the company making the loan didn't hold the loan. This was a failure of too little regulation.

Secondly, none of the things you mentioned were Keynesian. Keynesian isn't just "liberal ideas". Keynesian economics is stimulus spending in times of deflation.

[ekeyra]

@majinspy What caused the crisis was speculative homebuyers, funded by the federal reserves insanely low interest rates, inflating home prices to ridiculous levels. Federal laws and regulation forcing banks to lower or completely ignore lending standards. Then bailing out failed financial institutions. keynesian epic fail all around. krugmans only argument is that we didnt spend enough of other peoples money.

[majinspy]

@ekeyra What caused the crisis? A lot of things, both public and private. The loan industry was making loans and then selling them. It then bundled them up into very complex securities. Then private rating agencies gave junk bonds AAA status. Then home buyers were using their houses as a speculative investment. Fannie Mae and Freddie Mac contributed by buying up tons of loans and guaranteeing them, but this says NOTHING about Keynesian stimulus.

[ekeyra]

@majinspy When your "very smart" solution to the problem of america's financial crisis is more of what caused the crisis in the first place, yes i find that person very easy to dismiss. i dont really care how many nobels he's won.

[majinspy]

@ekeyra You're obfuscating. You said Krugman had an "unearned" ego. I don't think he has too big an ego, but in any case the man has earned quite a bit. If you don't like the fact that someone you disagree with is very smart and has published original work in the field of econmics that was was awarded a Nobel Prize, too bad. It's ok to disagree with Nobel laureates, but not to simply dismiss them as one would dismiss an internet troll......

[ekeyra]

@majinspy Keep laughing when america is a third world country

[majinspy]

@ekeyra unearned? Nobel prize rofl.

[ekeyra]

Hahahahahaha yes as if krugman wasnt a big enough pompous ass. im glad he has you to inflate his unearned ego to astronomical proportions. oh wait. those arent big enough, how about national debt proportions. can you even comprehend that your children will owe the government a house and car before they can learn to walk?

[dsf3g]

LOL, sometimes I wish Krugman would do this. It's gotta be what he's thinking.