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Reply #18: Obama will be responsible for perpetuating it, if he doesn't change course. [View All]

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leveymg Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-30-09 02:16 PM
Response to Reply #12
18. Obama will be responsible for perpetuating it, if he doesn't change course.
Edited on Mon Mar-30-09 02:23 PM by leveymg
Bailing out failed institutions by buying up toxic assets will be many times more expensive and less effective at helping regular people than simply taking TALF funds and creating a good bank to fund reconstruction. They may save the biggest institutions, but at the cost of letting everything else fail.

Once the Fed's remaining credibility (and credit) is used up, there will be only one course - restructuring. That means austerity. Read Krugman about that what entailed when applied by the IMF to the Asian and South American economies in the '80s and '90s.
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  -America the Tarnished By PAUL KRUGMAN: Economic crisis has cost America much of its credibility Better Believe It  Mar-30-09 01:37 PM   #0 
  - .  Barack_America   Mar-30-09 01:41 PM   #1 
  - Krugman just jumped the shark. BUSH COST AMERICA IT'S CREDIBILITY! Not the economic crisis.  berni_mccoy   Mar-30-09 01:45 PM   #2 
  - Yeah, so Krugman really thinks that our credibility was intact after Iraq?  Barack_America   Mar-30-09 01:47 PM   #4 
  - he is talking about economic credibility  ArchieStone1   Mar-30-09 01:51 PM   #7 
     - Yeah, Bush's corporate wellfare, tax-breaks for offshoring, and trillions of dollars of deficit  berni_mccoy   Mar-30-09 01:58 PM   #10 
     - So you're saying that Iraq had no economic consequences?  Barack_America   Mar-30-09 02:32 PM   #23 
  - That's a very foolish statement. Did you READ the column? He's talking about our fiscal credibilty  chimpymustgo   Mar-30-09 01:54 PM   #8 
  - You're completely absurd if you think Bush isn't responsible for the current economic disaster  berni_mccoy   Mar-30-09 01:59 PM   #12 
     - I fucking DARE you to read the column. Then we can discuss it. Take as much time as you need.  chimpymustgo   Mar-30-09 02:09 PM   #15 
     - I read it. He mentions Obama 4 times and Bush 0.  berni_mccoy   Mar-30-09 02:10 PM   #17 
     - Obama will be responsible for perpetuating it, if he doesn't change course.  leveymg   Mar-30-09 02:16 PM   #18 
     - Rrrrrright. Blame Obama then.  berni_mccoy   Mar-30-09 02:18 PM   #20 
        - Not blaming him. Saying he can make things worse, if he continues to  leveymg   Mar-30-09 02:26 PM   #22 
           - But what if he doesn't make it worse? n/t  ProSense   Mar-30-09 02:34 PM   #24 
              - But he will, he will, don't you know?  berni_mccoy   Mar-30-09 02:40 PM   #25 
     - bush was responsible, but obama didnt have to bend over for the banks...get it.  lxlxlxl   Mar-30-09 02:16 PM   #19 
     - Obama is damned if he does and damned if he doesn't.  berni_mccoy   Mar-30-09 02:19 PM   #21 
     - One man did it?! I'm afraid not. It was a bi-partisan majority led by Clinton and Senator Gramm  Better Believe It   Mar-30-09 03:45 PM   #28 
  - yes, it was bush, but we are hammering in another nail right now...  lxlxlxl   Mar-30-09 02:10 PM   #16 
  - Krugman's credibility is in question, as well  ecstatic   Mar-30-09 01:45 PM   #3 
  - Pay attention to Krugman and Stiglitz. They warned us this was coming a decade ago  leveymg   Mar-30-09 01:48 PM   #5 
  - Krugman among others saw this coming down the pike  PM Martin   Mar-30-09 01:49 PM   #6 
  - Some of the letters are AWESOME. Outside of DU, a LOT of liberals realize we're getting hosed.  chimpymustgo   Mar-30-09 01:58 PM   #11 
  - K & R nt  glitch   Mar-30-09 01:56 PM   #9 
  - The fact that most Americans...  liberalmuse   Mar-30-09 02:00 PM   #13 
  - Magazine cover curse?  high density   Mar-30-09 02:02 PM   #14 
  - It just seems as though he has become obsessed with Obama. This is bordering on ridiculous!  Liberal_Stalwart71   Mar-30-09 02:40 PM   #26 
  - Obsessed??? Isn't Obama the head of the Democratic Party and President of the United States?  Better Believe It   Mar-30-09 03:48 PM   #29 
  - He has every right to say and write whatever he wants, but he goes out of his way  Liberal_Stalwart71   Mar-30-09 06:58 PM   #35 
  - Krugman is obsessed with the global economic crisis!! He fucking CARES that we get it out of the  chimpymustgo   Mar-30-09 04:06 PM   #34 
     - We all care about what happens to this country. Not just Krugman!  Liberal_Stalwart71   Mar-30-09 07:00 PM   #36 
  - Working for President Ronald Reagan and Enron has cost Krugman much of his "liberal" credibility  ClarkUSA   Mar-30-09 02:43 PM   #27 
  - Shorter Krugman: Everything is Clinton's fault  geek tragedy   Mar-30-09 03:48 PM   #30 
     - Sure. Clinton, Summers & Rubin had nothing to do with deregulation. Wanna buy the Brooklyn Bridge?  Better Believe It   Mar-30-09 03:50 PM   #31 
        - Krugman talks about the failed economy and our soiled reputation  geek tragedy   Mar-30-09 03:56 PM   #32 
        - The soiled economic reputation was caused by the bi-partisan Democrat/Republican free marketeers who  Better Believe It   Mar-30-09 07:48 PM   #37 
        - dupe delete  geek tragedy   Mar-30-09 03:56 PM   #33 

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