The Economic Argument Is Over — And Paul Krugman Won (according to a fanboi)

[RonPaulFanInGA]

http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html

[Anti Federalist]

We're all Socialists now, amirite?

Just keep the rat wheel of debt and consumption going.

Laissez les bons temps rouler...

[thoughtomator]

If the argument is over, why does the economy still suck eggs?

[DamianTV]

If the argument is over, why does the economy still suck eggs?

Because we still have Flat Earth'ers of Economics today and they make up the majority of our elected leaders, bought and paid for.

[FrankRep]

We're all Socialists now, amirite?

Just keep the rat wheel of debt and consumption going.

Laissez les bons temps rouler...

http://www.mediaite.com/wp-content/uploads/2010/07/we-are-all-socialists-now-229x300.jpg

[paulbot24]

I'll try Krugmanomics next time I need to borrow from somebody and don't intend on paying them back again. "It's not that I never paid you back the last time, it's that I haven't you back from the last time yet. And without a further loan from you to stimulate by economic situation, I might never be able to pay you back any of the money ever. I'd hate to leave you all vulnerable with the upcoming alien invasion and everything......"

[Henry Rogue]

I read it. Lots of dubious conjecture in that article.

[ClydeCoulter]

Oh, shit, what good news. Now, how exactly does that help those that were responsible and saved over the years?

[Carson]

"Tell Us What You Think!"

I'm afraid to say but...

http://photos.imageevent.com/stokeybob/thebegining/donkeyyum.jpg
http://photos.imageevent.com/stokeybob/thebegining/itsadonkey.jpg

This taste like ass.

[HigherVision]

If the argument is over, why does the economy still suck eggs?

Sucking eggs is the new awesome.

[paulbot24]

Oh, shit, what good news. Now, how exactly does that help those that were responsible and saved over the years?

I believe they get a pat on the back and quarantined away from the rest of the socialist movement. They might be allowed to talk to other dissidents that actually payed their way through college instead of racking up student debt that is likely soon to be "forgiven" by Obama while they are in isolation.

"I'll have those grads voting Democrat for the next 100 years." - Barack Obama (not a real quote, well not yet)

[jclay2]

I'll try Krugmanomics next time I need to borrow from somebody and don't intend on paying them back again. "It's not that I never paid you back the last time, it's that I haven't you back from the last time yet. And without a further loan from you to stimulate by economic situation, I might never be able to pay you back any of the money ever. I'd hate to leave you all vulnerable with the upcoming alien invasion and everything......"

Yeah, I am still trying to figure out how at the basis of our entire financial system is government debt. It seems odd that we would view government bonds with such high stability given that our government hasn't run a real surplus in nearly 60 years.

[The Northbreather]

copy and paste from comments:





A lie repeated a hundred times becomes the truth! As long as stocks and commodities rally with the $200 billion monthly donations, and rating agencies too terrified to perform downgrades, everything must be fine! 69 Replies (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)


http://l.yimg.com/a/i/us/nws/2008/news/us/assets/common/images/transparent.png (http://profile.yahoo.com/HOA5RVTLHUFLA6ZILVPRVU6A6E)
46users liked this commentPlease sign in to rate a Thumb Up (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)Please sign in to rate a Thumb Down (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)6users disliked this comment
Anti Socialist (http://profile.yahoo.com/HOA5RVTLHUFLA6ZILVPRVU6A6E) • 14 hours ago Report Abuse (http://help.yahoo.com/l/us/yahoo/comments/article_comments/comment-guidelines.html)
"By 2005 or so, it will become clear that the Internet's impact on the economy has been no greater than the fax machine's."
The genius?
Paul Krugman 1 Reply (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)


http://l.yimg.com/a/i/us/nws/2008/news/us/assets/common/images/transparent.png (http://profile.yahoo.com/M525VTXLSG2GQRBQ2PO2UTMFDE)
556users liked this commentPlease sign in to rate a Thumb Up (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)Please sign in to rate a Thumb Down (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)97users disliked this comment
Oliver (http://profile.yahoo.com/M525VTXLSG2GQRBQ2PO2UTMFDE) • 3 days ago Report Abuse (http://help.yahoo.com/l/us/yahoo/comments/article_comments/comment-guidelines.html)
And the winner is:. . . a convicted felon who's barred from the securities industry. Carry on. 44 Replies (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)


http://l.yimg.com/a/i/us/nws/2008/news/us/assets/common/images/transparent.png (http://profile.yahoo.com/V3F6TJEUJ6BKP2EQ4SLGKGTBQY)
774users liked this commentPlease sign in to rate a Thumb Up (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)Please sign in to rate a Thumb Down (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)139users disliked this comment
JohnD (http://profile.yahoo.com/V3F6TJEUJ6BKP2EQ4SLGKGTBQY) • 3 days ago Report Abuse (http://help.yahoo.com/l/us/yahoo/comments/article_comments/comment-guidelines.html)
This is all short term thinking and is stupid economics 36 Replies (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)


http://l.yimg.com/a/i/us/nws/2008/news/us/assets/common/images/transparent.png (http://profile.yahoo.com/VTWQZRPKU3AR23BGUIKNO5WFKQ)
369users liked this commentPlease sign in to rate a Thumb Up (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)Please sign in to rate a Thumb Down (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)63users disliked this comment
A Yahoo! User • 3 days ago Report Abuse (http://help.yahoo.com/l/us/yahoo/comments/article_comments/comment-guidelines.html)
Krugman only thinks he's right because the fed is printing money and the interest rate is Zero. Wait till the interest rate goes to 2% and the interest on the debt is then $1 Trillion/yr. 31 Replies (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)


http://l.yimg.com/a/i/us/nws/2008/news/us/assets/common/images/transparent.png (http://profile.yahoo.com/47I3BXADHF2TUX7VPLS322FXMI)
994users liked this commentPlease sign in to rate a Thumb Up (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)Please sign in to rate a Thumb Down (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)194users disliked this comment
Todd (http://profile.yahoo.com/47I3BXADHF2TUX7VPLS322FXMI) • 3 days ago Report Abuse (http://help.yahoo.com/l/us/yahoo/comments/article_comments/comment-guidelines.html)
Upwards of $300k spent in stimulus per job created. I leave you to your own conclusions 78 Replies (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)


http://l.yimg.com/a/i/us/nws/2008/news/us/assets/common/images/transparent.png (http://profile.yahoo.com/TXNULU25DCOHZGZW5CGYVBARWM)
1009users liked this commentPlease sign in to rate a Thumb Up (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)Please sign in to rate a Thumb Down (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)217users disliked this comment
K.C.S (http://profile.yahoo.com/TXNULU25DCOHZGZW5CGYVBARWM) • 3 days ago Report Abuse (http://help.yahoo.com/l/us/yahoo/comments/article_comments/comment-guidelines.html)
This is a truly awful piece. This small technical difference does not change what they admitted: larger debts are correlated with slower growth. Then, you ultimately reach the point where an overburdened and sluggish private sector can no longer support a rapacious public sector. Then you... More (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#) 112 Replies (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)


http://l.yimg.com/a/i/us/nws/2008/news/us/assets/common/images/transparent.png (http://profile.yahoo.com/RE7DYT4NUCTMGV3IAW7ANILWQY)
95users liked this commentPlease sign in to rate a Thumb Up (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)Please sign in to rate a Thumb Down (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)20users disliked this comment
Post.Haste (http://profile.yahoo.com/RE7DYT4NUCTMGV3IAW7ANILWQY) • 3 days ago Report Abuse (http://help.yahoo.com/l/us/yahoo/comments/article_comments/comment-guidelines.html)
What a load of stool. If Government debt and spending brought prosperity we would be in a world wide economic tsunami. Japan joined the stupidity (currency war printing) because of the $USD manipulation 3 Replies (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)


http://l.yimg.com/a/i/us/nws/2008/news/us/assets/common/images/transparent.png (http://profile.yahoo.com/VU5OPIO2B6EXBJWAYMEKZN7T54)
437users liked this commentPlease sign in to rate a Thumb Up (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)Please sign in to rate a Thumb Down (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)111users disliked this comment
Action (http://profile.yahoo.com/VU5OPIO2B6EXBJWAYMEKZN7T54) • 3 days ago Report Abuse (http://help.yahoo.com/l/us/yahoo/comments/article_comments/comment-guidelines.html)
The notion that Paul Krugman is an economic visionary wouldn't even survive the red pen of a high school civics teacher, much less a more critical consideration of how a modern free market economy should operate. Paul Krugman is a latter-day Marxist who doesn't have the decency to move to North... More (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#) 30 Replies (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)


http://l.yimg.com/a/i/us/nws/2008/news/us/assets/common/images/transparent.png (http://profile.yahoo.com/WJEIHNY2RAK2IA7GLJKEU27YKU)
266users liked this commentPlease sign in to rate a Thumb Up (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)Please sign in to rate a Thumb Down (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)63users disliked this comment
RandyW (http://profile.yahoo.com/WJEIHNY2RAK2IA7GLJKEU27YKU) • 3 days ago Report Abuse (http://help.yahoo.com/l/us/yahoo/comments/article_comments/comment-guidelines.html)
Sorry but you are incorrect.

Krugman is more irrelevant than ever...

[Kregisen]

As someone with a finance degree and economics minor, I don't necessarily think Keynesians are "wrong" in the fact that stimulus spending may be able to temporarily grow an economy. It's really more of a moral issue. In order to "grow" the economy by this method, you are taking wealth from future generations which will result in a decrease in the economy when the **** hits the fan and taxes will skyrocket.

I do believe stimulus' can work (not necessarily at as big of an effect as many economists think...I think there are many variables affected that people don't realize), but I think it is flat out morally wrong. We should never have a debt level anywhere near this size.

[Danan]

As someone with a finance degree and economics minor, I don't necessarily think Keynesians are "wrong" in the fact that stimulus spending may be able to temporarily grow an economy. It's really more of a moral issue. In order to "grow" the economy by this method, you are taking wealth from future generations which will result in a decrease in the economy when the **** hits the fan and taxes will skyrocket.

I do believe stimulus' can work (not necessarily at as big of an effect as many economists think...I think there are many variables affected that people don't realize), but I think it is flat out morally wrong. We should never have a debt level anywhere near this size.

Austrian Economists also agree that stimulus spending "grows" GDP. In fact, that's the basis of the Austrian Business Cycle Theory. The question is, however, is increased spending good in every instance?

When you artificially lower interest rates with new bank credit you will indeed see increasing amounts of business investment. However, contrary to a natural fall of the interest rate caused by increased private savings (increase in the supply of loanable funds) the increase in I is not complemented by a decrease in consumption. In fact, consumption would go up too, because the incentive to save is diminished at lower interest rates.

What that means is more money is now chasing the same amounts of resources. But since it takes time for prices to adjust, you don't see inflation immediately. Unemployment goes down, production goes up. Short term everything looks great. But we are in an unsustainable boom period.

Eventually prices will rise, since resources (capital and labor) are scarce. At some time the additional investments will result in consumption goods. Indebted firms rely on those sales. But consumers haven't increased their savings in the past (but did in fact the opposite) and can not afford to buy all the products supplied on the market, especially at higher prices due to inflation.

The monetary stimulus created a boom that is doomed to transform into a bust in the future. Price fixing the interest rate is only distorting the free market, creating a misallocation of resources. The tool of the market to reallocate those resources is called a recession.

Fiscal stimulus is flat-out misallocating resources without any complicated mechanisms. It too could create a boom, but that also doesn't mean increased long-term prosperity.

[moostraks]

copy and paste from comments:





A lie repeated a hundred times becomes the truth! As long as stocks and commodities rally with the $200 billion monthly donations, and rating agencies too terrified to perform downgrades, everything must be fine! 69 Replies (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)


http://l.yimg.com/a/i/us/nws/2008/news/us/assets/common/images/transparent.png (http://profile.yahoo.com/HOA5RVTLHUFLA6ZILVPRVU6A6E)
46users liked this commentPlease sign in to rate a Thumb Up (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)Please sign in to rate a Thumb Down (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)6users disliked this comment
Anti Socialist (http://profile.yahoo.com/HOA5RVTLHUFLA6ZILVPRVU6A6E) • 14 hours ago Report Abuse (http://help.yahoo.com/l/us/yahoo/comments/article_comments/comment-guidelines.html)
"By 2005 or so, it will become clear that the Internet's impact on the economy has been no greater than the fax machine's."
The genius?
Paul Krugman 1 Reply (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)


http://l.yimg.com/a/i/us/nws/2008/news/us/assets/common/images/transparent.png (http://profile.yahoo.com/M525VTXLSG2GQRBQ2PO2UTMFDE)
556users liked this commentPlease sign in to rate a Thumb Up (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)Please sign in to rate a Thumb Down (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)97users disliked this comment
Oliver (http://profile.yahoo.com/M525VTXLSG2GQRBQ2PO2UTMFDE) • 3 days ago Report Abuse (http://help.yahoo.com/l/us/yahoo/comments/article_comments/comment-guidelines.html)
And the winner is:. . . a convicted felon who's barred from the securities industry. Carry on. 44 Replies (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)


http://l.yimg.com/a/i/us/nws/2008/news/us/assets/common/images/transparent.png (http://profile.yahoo.com/V3F6TJEUJ6BKP2EQ4SLGKGTBQY)
774users liked this commentPlease sign in to rate a Thumb Up (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)Please sign in to rate a Thumb Down (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)139users disliked this comment
JohnD (http://profile.yahoo.com/V3F6TJEUJ6BKP2EQ4SLGKGTBQY) • 3 days ago Report Abuse (http://help.yahoo.com/l/us/yahoo/comments/article_comments/comment-guidelines.html)
This is all short term thinking and is stupid economics 36 Replies (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)


http://l.yimg.com/a/i/us/nws/2008/news/us/assets/common/images/transparent.png (http://profile.yahoo.com/VTWQZRPKU3AR23BGUIKNO5WFKQ)
369users liked this commentPlease sign in to rate a Thumb Up (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)Please sign in to rate a Thumb Down (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)63users disliked this comment
A Yahoo! User • 3 days ago Report Abuse (http://help.yahoo.com/l/us/yahoo/comments/article_comments/comment-guidelines.html)
Krugman only thinks he's right because the fed is printing money and the interest rate is Zero. Wait till the interest rate goes to 2% and the interest on the debt is then $1 Trillion/yr. 31 Replies (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)


http://l.yimg.com/a/i/us/nws/2008/news/us/assets/common/images/transparent.png (http://profile.yahoo.com/47I3BXADHF2TUX7VPLS322FXMI)
994users liked this commentPlease sign in to rate a Thumb Up (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)Please sign in to rate a Thumb Down (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)194users disliked this comment
Todd (http://profile.yahoo.com/47I3BXADHF2TUX7VPLS322FXMI) • 3 days ago Report Abuse (http://help.yahoo.com/l/us/yahoo/comments/article_comments/comment-guidelines.html)
Upwards of $300k spent in stimulus per job created. I leave you to your own conclusions 78 Replies (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)


http://l.yimg.com/a/i/us/nws/2008/news/us/assets/common/images/transparent.png (http://profile.yahoo.com/TXNULU25DCOHZGZW5CGYVBARWM)
1009users liked this commentPlease sign in to rate a Thumb Up (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)Please sign in to rate a Thumb Down (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)217users disliked this comment
K.C.S (http://profile.yahoo.com/TXNULU25DCOHZGZW5CGYVBARWM) • 3 days ago Report Abuse (http://help.yahoo.com/l/us/yahoo/comments/article_comments/comment-guidelines.html)
This is a truly awful piece. This small technical difference does not change what they admitted: larger debts are correlated with slower growth. Then, you ultimately reach the point where an overburdened and sluggish private sector can no longer support a rapacious public sector. Then you... More (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#) 112 Replies (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)


http://l.yimg.com/a/i/us/nws/2008/news/us/assets/common/images/transparent.png (http://profile.yahoo.com/RE7DYT4NUCTMGV3IAW7ANILWQY)
95users liked this commentPlease sign in to rate a Thumb Up (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)Please sign in to rate a Thumb Down (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)20users disliked this comment
Post.Haste (http://profile.yahoo.com/RE7DYT4NUCTMGV3IAW7ANILWQY) • 3 days ago Report Abuse (http://help.yahoo.com/l/us/yahoo/comments/article_comments/comment-guidelines.html)
What a load of stool. If Government debt and spending brought prosperity we would be in a world wide economic tsunami. Japan joined the stupidity (currency war printing) because of the $USD manipulation 3 Replies (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)


http://l.yimg.com/a/i/us/nws/2008/news/us/assets/common/images/transparent.png (http://profile.yahoo.com/VU5OPIO2B6EXBJWAYMEKZN7T54)
437users liked this commentPlease sign in to rate a Thumb Up (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)Please sign in to rate a Thumb Down (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)111users disliked this comment
Action (http://profile.yahoo.com/VU5OPIO2B6EXBJWAYMEKZN7T54) • 3 days ago Report Abuse (http://help.yahoo.com/l/us/yahoo/comments/article_comments/comment-guidelines.html)
The notion that Paul Krugman is an economic visionary wouldn't even survive the red pen of a high school civics teacher, much less a more critical consideration of how a modern free market economy should operate. Paul Krugman is a latter-day Marxist who doesn't have the decency to move to North... More (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#) 30 Replies (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)


http://l.yimg.com/a/i/us/nws/2008/news/us/assets/common/images/transparent.png (http://profile.yahoo.com/WJEIHNY2RAK2IA7GLJKEU27YKU)
266users liked this commentPlease sign in to rate a Thumb Up (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)Please sign in to rate a Thumb Down (http://finance.yahoo.com/blogs/daily-ticker/economic-argument-over-paul-krugman-won-150247189.html#)63users disliked this comment
RandyW (http://profile.yahoo.com/WJEIHNY2RAK2IA7GLJKEU27YKU) • 3 days ago Report Abuse (http://help.yahoo.com/l/us/yahoo/comments/article_comments/comment-guidelines.html)
Sorry but you are incorrect.

Krugman is more irrelevant than ever...


Sad thing is the number of down votes on your selection of comments...

[ghengis86]

Sad thing is the number of down votes on your selection of comments...

Have you ever read the comments after Krugman's NYT op-eds?

[gwax23]

Have you ever read the comments after Krugman's NYT op-eds?

No but now that you mention it I would love too.

Also this is the same paul krugman who said the Internet would be about as influential on the economy as a fax machine? Wow who still listens to this shmuck.

[Anti Federalist]

As someone with a finance degree and economics minor, I don't necessarily think Keynesians are "wrong" in the fact that stimulus spending may be able to temporarily grow an economy. It's really more of a moral issue. In order to "grow" the economy by this method, you are taking wealth from future generations which will result in a decrease in the economy when the **** hits the fan and taxes will skyrocket.

I do believe stimulus' can work (not necessarily at as big of an effect as many economists think...I think there are many variables affected that people don't realize), but I think it is flat out morally wrong. We should never have a debt level anywhere near this size.

Well, of course they will.

If I robbed you, stole all your cash and credit cards and went on a wild ass spending spree, my personal economy would certainly be stimulated.

[bbjaylive]

I'll try Krugmanomics next time I need to borrow from somebody and don't intend on paying them back again. "It's not that I never paid you back the last time, it's that I haven't you back from the last time yet. And without a further loan from you to stimulate by economic situation, I might never be able to pay you back any of the money ever. I'd hate to leave you all vulnerable with the upcoming alien invasion and everything......"

Do you print your own money? No. So what on earth are you talking about?

[bbjaylive]

Yeah, I am still trying to figure out how at the basis of our entire financial system is government debt. It seems odd that we would view government bonds with such high stability given that our government hasn't run a real surplus in nearly 60 years.

Has the government ever failed to pay up when the bonds mature? No. So why does it seem odd to you that they are so reliable?

[Carson]

The Northbreather,

I really liked that first comment with all of the up votes.


"A lie repeated a hundred times becomes the truth! As long as stocks and commodities rally with the $200 billion monthly donations, and rating agencies too terrified to perform downgrades, everything must be fine!
69 Replies"

[paulbot24]

Do you print your own money? No. So what on earth are you talking about?

I could print up some Monopoly money right now but what difference would that make?