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Showing Original Post only (View all)Krugman's Harshest Post Yet [View all]
This is exceptionally harsh stuff...
But hey, why should the Fed be any different? Not doing the right thing out of concern with what Republicans might say has been a pan-institutional American motif for a while now. It's our defining national personality disorder.
The intimidated Fed: The minimal action extending Operation Twist wasnt just inadequate, it was shameful. The Fed has a dual mandate, employment and price stability. Its own projections show high unemployment persisting for years and years, inflation running below its target and realistically its inflation projections are too high while its unemployment projections are too low. There is no rational argument I can see for not going all out with monetary stimulus.
But what we actually got was action that was pretty obviously calculated to be the absolute least the Fed could do without generating headlines saying Fed ignores weak economy.
Im sorry, but this looks like pure concession to political intimidation a Fed refusing to do anything that would let Republicans accuse it of helping Obama. And for the sake of its own political comfort, the Fed is essentially betraying the unemployed.
http://krugman.blogs.nytimes.com/2012/06/21/brief-notes-from-hiding/
But what we actually got was action that was pretty obviously calculated to be the absolute least the Fed could do without generating headlines saying Fed ignores weak economy.
Im sorry, but this looks like pure concession to political intimidation a Fed refusing to do anything that would let Republicans accuse it of helping Obama. And for the sake of its own political comfort, the Fed is essentially betraying the unemployed.
http://krugman.blogs.nytimes.com/2012/06/21/brief-notes-from-hiding/
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Perhaps the harshest, but he still stopped short of calling it what it is.
Egalitarian Thug
Jun 2012
#2
Third Way Manny **undoubtedly** loved Paul Krugman's book "Pop Internationalism"
Romulox
Jun 2012
#14
Um, Third Way? Krugman doesn't limit his argument to NAFTA. The whole book is a paean to "free
Romulox
Jun 2012
#23
PS: Is it "Third Way Manny" or just "Manny" who is speaking in favor of NAFTA, here?
Romulox
Jun 2012
#24
"NAFTA caused a modest drop in the incomes low-skilled-workers" - Manny, 2012
joshcryer
Jun 2012
#46
Right! That dang Krugman aims to destroy our carefully crafted stupor of denial.
rhett o rick
Jun 2012
#20
It's obvious that Krugman thinks we are going over a cliff. If so, I'm worried.
CTyankee
Jun 2012
#7
Obama won't get a filibuster-proof majority with folks like you doing Karl Rove's work for him.
SunSeeker
Jun 2012
#62
"centrists" are center right, have been since the nineties (at least), where have you been? Social
Dragonfli
Jun 2012
#65
I may not vote at all, I only will vote for right wing OPPOSITION (I will not vote FOR RW policy)
Dragonfli
Jun 2012
#67
By not voting (and trashing Obama) you are serving the Repukes--and your own destruction.
SunSeeker
Jun 2012
#68
He's right, Grand Nagus Greenspan was a double agent for the dumbass Austrian Economics crackpots.
TrollBuster9090
Jun 2012
#49