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Demeter

(85,373 posts)
6. In-Crowd Economics: It's Hip to Fear the Deficit By Paul Krugman
Thu Feb 14, 2013, 01:06 AM
Feb 2013
http://truth-out.org/opinion/item/14507-in-crowd-economics-its-hip-to-fear-the-deficit

Back during the early days of the Iraq debacle, I learned that the military has a term for how highly dubious ideas become not just accepted, but viewed as certainties.

"Incestuous amplification" happens when a closed group of people repeat the same things to each other — and when accepting the group's preconceptions itself becomes a necessary ticket to being in the in-group. A fundamentally flawed notion — say, that the Germans can't possibly attack though the Ardennes — becomes part of what everyone knows, where "everyone" means by definition only people who accept the flawed notion.

We saw that in the run-up to the Iraq War, where perfectly obvious propositions — the case for invading was very weak, the occupation could well be a nightmare — weren't so much rejected as ruled out of the discussion altogether; if you even considered those possibilities, you weren't a serious person, no matter what your credentials.

Which brings me to the fiscal debate, which is characterized by the particular form of incestuous amplification that Greg Sargent, a commentator at The Washington Post, calls the Beltway Deficit Feedback Loop....MORE...And at this point, of course, all the Very Serious People have committed their reputations so thoroughly to the official doctrine that they almost literally can't hear any contrary evidence.
No Comment on Cartoon Demeter Feb 2013 #1
The Commerce Clause Tansy_Gold Feb 2013 #5
That toon should go in GD too siligut Feb 2013 #10
I have no comment on your no comment, except to say tclambert Feb 2013 #19
How Congress Could Fix Its Budget Woes, Permanently By Ellen Brown Demeter Feb 2013 #2
‘The deficit chart that should embarrass deficit hawks’ by Ezra Klein Demeter Feb 2013 #4
In-Crowd Economics: It's Hip to Fear the Deficit By Paul Krugman Demeter Feb 2013 #6
Ms. Brown goes straight to the heart of the matter. The message needs to go viral. Ghost Dog Feb 2013 #20
“Emperor’s new clothes” moment of the Great Recession? Ghost Dog Feb 2013 #36
Call them the “whatever-it-takes” central bankers. Ghost Dog Feb 2013 #43
Memo to the President: Actions Speak Louder Than Lofty Speeches Demeter Feb 2013 #3
Fed Joining in Alarm Over Distortion It Enabled: Credit Markets Demeter Feb 2013 #7
RBS Bankers Tell Lawmakers They Thought Libor-Rigging Impossible Demeter Feb 2013 #8
I THINK what they meant was Libor-Rigging Undetectable.... Demeter Feb 2013 #11
Best Jeopardy answer ever... jtuck004 Feb 2013 #9
Happy Valentine's Day, everyone! Hugin Feb 2013 #12
You've got my vote Demeter Feb 2013 #13
Thanks for your support. Hugin Feb 2013 #34
I used to be a Cardinal! I can vote for you! Tansy_Gold Feb 2013 #17
It's good to have someone on the inside. Hugin Feb 2013 #35
My neice who stood up in assembly at St Columba's about 1989 and kickysnana Feb 2013 #21
I appreciate your extensive use of smilies. Hugin Feb 2013 #25
+++ DemReadingDU Feb 2013 #39
I do like the way it sounds in Latin. Ghost Dog Feb 2013 #46
Happy Valentine's day to all the SMW denizens! Roland99 Feb 2013 #44
A nice way to spend the day. Hugin Feb 2013 #45
Euro zone economy falls deeper into recession Demeter Feb 2013 #14
EU exec Olli Rehn says euro states can have more time to cut deficits THAT'S BIG OF HIM Demeter Feb 2013 #15
One graph that says much about America, and our future: the growth in jobs vs. food stamp use Demeter Feb 2013 #16
Ever Since the Stolen Election of 2000, in My Case Demeter Feb 2013 #18
+1 kickysnana Feb 2013 #22
i am sick as a dog xchrom Feb 2013 #23
Nobody should spend Valentine's sick, xchrom! Hugin Feb 2013 #37
Sending you electornic hugs and Demeter Feb 2013 #38
Aw, no :( siligut Feb 2013 #40
Hope you feel better soon DemReadingDU Feb 2013 #41
Take two Beggin' Strips and call me in the morning. Fuddnik Feb 2013 #42
German, French economies shrink xchrom Feb 2013 #24
This message was self-deleted by its author xchrom Feb 2013 #26
irishtimes.com - Last Updated: Thursday, February 7, 2013, 21:26 Ghost Dog Feb 2013 #31
i missed that! nt xchrom Feb 2013 #32
Heinz bought by Warren Buffett's Berkshire Hathaway for $28bn xchrom Feb 2013 #27
Japanese economy contracts for third straight quarter xchrom Feb 2013 #28
India inflation rate dips to three-year low in January xchrom Feb 2013 #29
Manmohan Singh: French fighter jet talks 'going well' xchrom Feb 2013 #30
Thank you, whomever, for my hearts, and all of you bread_and_roses Feb 2013 #33
The GOP Plan to Flush Your State’s Economy Down the Toilet jtuck004 Feb 2013 #47
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