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Krugman admits massive failure of the leftist economic model

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  • Krugman admits massive failure of the leftist economic model

    http://www.nytimes.com/2013/11/18/op...ent-slump.html


    But what if the world we’ve been living in for the past five years is the new normal? What if depression-like conditions are on track to persist, not for another year or two, but for decades?
    What did I say in 2008? I said that this is the "new normal." I said so in response to left of center types saying how great things will be when the "adults" are in charge. The green jobs, the smart grid, the electric cars, "bending the cost curve down," and another peace dividend from ending the wars.

    How'd that work out?

    More Krugman:

    More broadly, if our economy has a persistent tendency toward depression, we’re going to be living under the looking-glass rules of depression economics — in which virtue is vice and prudence is folly, in which attempts to save more (including attempts to reduce budget deficits) make everyone worse off — for a long time.

    I know that many people just hate this kind of talk. It offends their sense of rightness, indeed their sense of morality. Economics is supposed to be about making hard choices (at other people’s expense, naturally). It’s not supposed to be about persuading people to spend more.

    But as Mr. Summers said, the crisis “is not over until it is over” — and economic reality is what it is. And what that reality appears to be right now is one in which depression rules will apply for a very long time.
    So basically, Krugman and Summers can't figure out to fix the economic problems. Therefore, they've declared that the problems just can't be fixed. AMAZING!

    http://www.nytimes.com/2013/11/18/op...ent-slump.html
    "Faith is nothing but a firm assent of the mind : which, if it be regulated, as is our duty, cannot be afforded to anything but upon good reason, and so cannot be opposite to it."

    -John Locke

  • #2
    The good news is that Krugman has literally never been right about anything in his entire life. Ever.

    No, Paul, you stupid fucktard. The economy is not tended toward "permanent depression." It's tended toward growth, freedom, expansion, and prosperity. If only the government and the nanny-staters like you will get the hell out of the way, everyone will be much better-off. Kennedy proved it, Reagan proved it, Bush proved it. Even the Left admits that the basic tenets of the Austrian school are correct, though they never want to let go of their emotional attachment to Cosmic Sameness.
    Bask in the warmth of the Deep South
    No one will be denied:
    Big law suits and bathroom toots;
    We're all getting Dixie-fried.
    But somewhere Hank and Lefty
    Are rollin' in their graves
    While kudzu vines grow over signs that read "Jesus Saves."

    Comment


    • #3
      Seems as good a time as any to re-post these, which should be mandatory viewing for every school child starting in the third grade:








      And, just to get into the holiday spirit:


      Bask in the warmth of the Deep South
      No one will be denied:
      Big law suits and bathroom toots;
      We're all getting Dixie-fried.
      But somewhere Hank and Lefty
      Are rollin' in their graves
      While kudzu vines grow over signs that read "Jesus Saves."

      Comment

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