On 05/28/2013 05:38 PM, raunchydog wrote: > > --- In FairfieldLife@yahoogroups.com, Bhairitu <noozguru@...> wrote: >> On 05/28/2013 02:21 PM, raunchydog wrote: >>> --- In FairfieldLife@yahoogroups.com, Bhairitu <noozguru@> wrote: >>>> Remember Reagan's "Morning in America"? Well, you might want to read >>>> David Stockman's op-ed in the New York Times called "Sundown in >>>> America." Stockman was Reagan's budget director and reiterates what >>>> some of us have been saying about the 2008 bail out that should NOT have >>>> happened. >>>> http://www.nytimes.com/2013/03/31/opinion/sunday/sundown-in-america.html?pagewanted=all&_r=0 >>>> >>> David Stockman is a Libertarian who sides with the deficit hawks. He is >>> completely WRONG about how to fix the economy. >> But he is right about what went wrong with it. >> >>> Krugman and others take Stockman to task here: >>> http://economistsview.typepad.com/economistsview/2013/03/david-stockman-goes-way-way-over-the-top.html >> So how well do YOU understand economics? Enough to judge whether >> Krugman is correct? I know a lot of liberals who are rah-rah for >> Krugman that don't know shit about economics but they want cheer for the >> "home team." Krugman is one solution but there may well be other >> workable solutions which is something I learned from studying economics. >> > No need to pull rank, just make your case. I haven't studied economics but I > have regularly read Paul Krugman, Naked Capitalism and Center for Economic > Policy and Research and a few other anti-austerity economists: > http://krugman.blogs.nytimes.com/ > http://www.nakedcapitalism.com/ > http://www.cepr.net/
Wasn't pulling rank. Just wanted to know what you ACTUALLY know about economics. It became kind of a hobby with me in the 1970s. I also know some economists. I'm not saying there is anything WRONG with Krugman but it might be a good idea to read a wide range of economists. > FYI CEPR among others reported that austerity nuts, Reinhart/Rogoff fucked up > royally. > http://www.cepr.net/index.php/op-eds-&-columns/op-eds-&-columns/crashing-the-90-percent-club-the-importance-of-the-reinhart-rogoff-error > > Stockman: "The state-wreck originated in 1933, when Franklin D. Roosevelt > opted for fiat money (currency not fundamentally backed by gold), economic > nationalism and capitalist cartels in agriculture and industry." > > When I read blather like this about FDR who rightwingers have *always* hated > for creating a social safety net as they attempt to dismantle the highly > successful Medicare program of LBJ, I stop listening. Actually there are quite a number of commentators on the left that think the gold standard should have been maintained. > Keynesian economics work just fine in countries that support education, > social services and government run health care in countries like Denmark for > example: > > "Health care in Denmark is universal, free of charge and high quality. > Everybody is covered as a right of citizenship. The Danish health care system > is popular, with patient satisfaction much higher than in our country. In > Denmark, every citizen can choose a doctor in their area. Prescription drugs > are inexpensive and free for those under 18 years of age. Interestingly, > despite their universal coverage, the Danish health care system is far more > cost-effective than ours. They spend about 11 percent of their GDP on health > care. We spend almost 18 percent." > http://www.huffingtonpost.com/rep-bernie-sanders/what-can-we-learn-from-de_b_3339736.html BTW, when the right complains about Obamacare what they really don't like is the fact that if they don't purchase some healthcare insurance they'll get a fine. That's why they want the old system back so if they didn't purchase health insurance they wouldn't get fined. They actually might not have objected to single payer at all. I'm out of the equation being on Medicare. For too many years I paid extortion fees to Blue Cross. > > "Iceland devalued its currency massively and imposed capital controls. > And a strange thing has happened: although Iceland is generally considered to > have experienced the worst financial crisis in history, its punishment has > actually been substantially less than that of other nations...The moral of > the story seems to be that if you're going to have a crisis, it's better to > have a really, really bad one. Otherwise, you'll end up taking the advice of > people who assure you that even more suffering will cure what ails you." > http://krugman.blogs.nytimes.com/2010/06/30/the-icelandic-post-crisis-miracle/ That's because Iceland told the world banks to fuck off. Stockman also thinks the US should have told the banks to fuck off in 2008. I do too as do quite a number of people on the left. It would in the long run only hurt the selfish uber rich. Instead a bandage was slapped on the problem delayed the actual result which will hurt many people. The reason I posted Stockman's opt-ed was because it showed that even someone in the Reagan administration knows where the US went wrong over the last thirty years. >>> Youtube: Stephanopoulos, David Stockman & Paul Krugman >>> http://theweek.com/article/index/242122/6-takedowns-of-david-stockmans-fiscal-end-times-rant-in-the-new-york-times >>> >>> http://www.youtube.com/watch?v=f7wkMwz5l0A >>> >>>> And I mention Dmitri Orlov from time to time and here is an podcast >>>> interview with him preceded by an interview with Chris Hedges. Lots of >>>> food for thought. >>>> http://www.extraenvironmentalist.com/2013/05/20/episode-60-days-destruction/ >>>> >>> > >
