--- 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/ 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. 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 "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/ > > 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/ > >> > > > > >
