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Shorter Krugman: The beatings will continue until moral improves

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Stoic Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Aug-21-10 01:04 PM
Original message
Shorter Krugman: The beatings will continue until moral improves
Edited on Sat Aug-21-10 01:05 PM by Stoic
"...And some of the scenarios being proposed were just plain bizarre: the bond bubble will burst, and this will plunge us into recession, and the Fed will have to buy up government debt, and this will mean inflation too. Really.

And then the whole story shifted: suddenly it wasnt the carry trade, it was sovereign debt risks, were all Greece.

And now theres a new one: you see, low interest rates will cause deflation. Really (near the end).

And though the story shifts, the moral is always the same: the little people have to suffer."


Bond Madness
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Warpy Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Aug-21-10 01:07 PM
Response to Original message
1. And while the little people are made to suffer, recovery is impossible
because it's those little people who create all the demand for goods and services.

You can throw all the money you want to at corporations. If they lack customers, they're going to go under.
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Beartracks Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Aug-21-10 02:16 PM
Response to Reply #1
7. Our economy is based on consumerism.
So it seems that economic policies should favor CONSUMERS. I know it's all big supply-demand circle, but the activity within that circle STARTS with the demand from CONSUMERS. And they exercise that demand with their DOLLARS.
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txlibdem Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Aug-21-10 01:08 PM
Response to Original message
2. The little people have to suffer
Well, we couldn't expect the CEOs to reduce their pay and give up their multi-million dollar golden parachutes.
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HillbillyBob Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Aug-21-10 01:25 PM
Response to Reply #2
4. Us little folks have suffered for years
One day we will get fed up and the ceos will suffer too, and they might not live through it. Those gated communities are not as secure as they thing they are unless its Jupiter Island, Fl..that place is a fortress.
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txlibdem Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Aug-21-10 03:12 PM
Response to Reply #4
10. It's called sending crooks to jail
Not giving them $20 million golden parachutes.
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LongTomH Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Aug-21-10 01:09 PM
Response to Original message
3. The un-recers are here again!
I recc'ed this and the count went to zero.

Seriously, Prof. Krugman is one of the few economists today who really makes sense.
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BootinUp Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Aug-21-10 02:20 PM
Response to Reply #3
8. I can't imagine why people would unrec this. nt
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bain_sidhe Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Aug-21-10 01:34 PM
Response to Original message
5. It's "morale" - Hope you can still edit!
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Stoic Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Aug-21-10 02:59 PM
Response to Reply #5
9. Duh! Flying fingers of failure. n/t
Edited on Sat Aug-21-10 02:59 PM by Stoic
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MannyGoldstein Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Aug-21-10 01:39 PM
Response to Original message
6. Thank goodness Summers and Geithner are running the economy!
Krugman is such a Debbie Downer. Why can't he be focused on happy news, like banker bonuses setting an all time record this year?

Silly professional left!
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