Re: OT: Krugman - Economy

On Feb 9 2009 12:17 PM, da pickle wrote:

"JerseyRudy"

Krugman has become a hack. But it does not matter that I have that
opinion;
just as it does not matter that you think he should be taken seriously on
this specific subject.

It matters if your opinion is nor based on evidence. You obviously don't
read Krugman, yet you have no problem making assumptions about him.

I read what was posted. It was hack stuff.

Point me to some "economic" stuff that is not hack stuff and I will read it.

What about the writings of Johm Maynard Keynes? Is that also hack stuff to
you? Is the definition of "hack stuff" anything that you disagree with?

He thinks we can spend our way out of this crisis and he thinks that no one
is proposing spending enough. And it is all the Republicans' fault ...
except, since the new administration is not proposing spending enough, it
may be their fault too ... unless they spend more. I expect he will get his
wish. We will likely spend a lot more.

You think we are on a wise path ... I do not. We will see what the future
brings.

It will be difficult to tell because you have said that it is going to get a
lot worse no matter what the new administration does, so you have built in
your escape clause. There is no way to know if we are going to be
"successful" ... whatever you might mean by that, because we have to do
"something" ... no matter whether it is good in the long run or not. All
roads in Rudy-land point to MORE spending. I have heard nothing about
"letting failures fail" and I have heard nothing about decreasing spending
.... nothing.

I'm sure you are aware that this is a two-way street. If the economy does
turn around quicker than you or I think it will, does that mean you will
give any credit to the stimulus bill? I am fairly certain that you will
instead give credit to the traditional cyclical forces of the market
economy for any such turnaround.

That's why I asked you if you will admit that you are wrong about the
stimulus package if the bill does not pass and the economy gets much
worse. You didn't answer that question, but I have a feeling that is a
similar situation to the built-in escape clause you talk about.

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