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Paul Krugman: Economy under Obama in a Depression
Washington Examiner ^ | 6/11/12 | Charlie Spiering

Posted on 06/11/2012 9:27:14 AM PDT by Nachum

Economist Paul Krugman had bad news for liberals Netroots Nation on Saturday. During his keynote speech the New York Times columnist admitted that the United States economy was suffering a depression. "We don't have a formal definition, I'd say that a Depression is when things are down, when things are terrible for an extended period of time," Krugman said, reminding them that were even "official" periods of recovery during the Great Depression. "So it is again today," he said. "It's not as bad as the Great Depression - there's a winning slogan," he added cynically.

(Excerpt) Read more at campaign2012.washingtonexaminer.com ...


TOPICS: News/Current Events
KEYWORDS: depression; economy; krugman; obama
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To: Nachum
FDR took Hoover's Recession and turned it into a 10 year Depression.

BHO has taken Bush's Recession and is turning it into a 10 year Depression.

Both FDR & BHO are students of Keynes. They will get the same results.


21 posted on 06/11/2012 10:30:24 AM PDT by Uri’el-2012 (Psalm 119:174 I long for Your salvation, YHvH, Your law is my delight.)
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To: Uncle Ike

“(He may be the last Congresscritter ever documented to have actually read the Constitution..)

(Of course, he wrote it”

Adams was not Congressman, unless you count the vice president and his tie-breaking vote as such, and he did not write the Constitution. I don’t think he was even in the country when it was written.


22 posted on 06/11/2012 10:36:13 AM PDT by Tublecane
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To: Tublecane

Well, darn...

Of all of the Founding Fathers (who later went on to serve in Congress) I had to choose from to make my point, I had to pull the one out of my a$$ that didn’t...

Next time I’ll fact-check before posting... ;)


23 posted on 06/11/2012 10:41:42 AM PDT by Uncle Ike (Rope is cheap, and there are lots of trees...)
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To: Nachum; ding_dong_daddy_from_dumas; stephenjohnbanker; DoughtyOne; Gilbo_3; NFHale; Impy; LMAO; ...

Maybe so but all Obama’s liberal expert economists agree that Obama’s depression would have been MUCH WORSE if he didn’t run up 4+ T $ of nation debt and spend it on his base public union supporters.

Re-Elect Obama 2012 because HIS depression could have been even worse.


24 posted on 06/11/2012 10:44:03 AM PDT by sickoflibs (Romney is a liberal. Just watch him closely try to screw us.)
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To: cardinal4
I have never believed a word Krugman said in the past, why should I start now?

Hey, I agree with you.

But you know what they say about blind squirrels. This is one of those time.

25 posted on 06/11/2012 10:47:59 AM PDT by Vigilanteman (Obama: Fake black man. Fake Messiah. Fake American. How many fakes can you fit in one Zer0?)
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To: Nachum
We agree, about the problem.

Where we differ, violently, is the solution.

Krugman believes taxing and spending will help it.

I believe taxing and spending will hurt it.

26 posted on 06/11/2012 10:52:49 AM PDT by Lazamataz (People who resort to Godwin's Law are just like Hitler.)
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To: kingu

“You can choose not to run, but that’s not retirement.”

I might agree, except that in some cases elections are formalities and they’d be certain to hold their seat for the 40th or whatever term had they not bowed out. Retirement is a perfectly acceptable term for that.

“Congress is NOT a career choice.”

Yes it is, as obviously many make a career out of it. I’m, not sure what you’re getting at here, exactly. Congressmen don’t decide on their own whether they’re going to be elected, although often enough for the ones who have been in there long enough election is all but guaranteed. But it’s not as if in other lines of work people unilaterally decide whether they’ll stay employed. The entity employing you, or if you’re self-employed the market, may decide to chuck you out of a job just as surely as the electorate may fail to re-elect a senator.


27 posted on 06/11/2012 11:00:52 AM PDT by Tublecane
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To: carriage_hill

Recession = when your neighbor is unemployed.
Depression = when you’re unemployed.
Recovery = When Obama is unemployed.

Is that too much for a bumper sticker, I think not.


28 posted on 06/11/2012 11:04:14 AM PDT by tet68 ( " We would not die in that man's company, that fears his fellowship to die with us...." Henry V.)
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To: Nachum

I’ve been doing a little research on the “Third Way” movement and I am persuaded that the “Third Way” Democrats are moving to unseat Obama, if not at the convention, in 2016.

They may be thinking that it will be impossible for Romney to make much progress in the economy in four years, with the damage that Obama has done and besides, Romney is a Third Wayer, himself. But they are definitely moving to disavow Obama and the Obama supporters are having a fit.

The old Democrat leadership council didn’t go away, it morphed into The Third Way, with Evan Bayh playing an important role. They are the Hillary Clinton wing of the Democrat party, the triangulators, the compromisers, for whom the hard choices that result in compromise are simply considered “false choices.” (Jonah Goldberg - Liberal Fascism)

This is an important movement that most of us have been ignoring because we were so distracted by the over-reaching of the Obama administration on all fronts and the seeming unity of the Democrat party. It was an illusion. The Third Wayers were simply sitting back and waiting for him to fail because they knew he would.

It is the Third Way that the far left labels as “corporatists”. The far left fights the Third Way segment of the Democrat Party the same way that Republicans fight the Libertarians. The problem for the Democrats is that by pushing the far left agenda so hard, they pushed the middle of the road people right into the Republican voter block.

I’m pretty sure that Mitt Romney is a Third Way guy. His political record is just about a clear definition of the “Third Way”. Even his position on health care is a Third Way kind of compromise - Give the voters what they want. If you can’t beat them, join them. That’s what is meant by a “false choice”.

The only way to deal with Mitt Romney is to keep the pressure, don’t ever let up and let him know that he wasn’t elected to compromise with the left.


29 posted on 06/11/2012 11:08:54 AM PDT by Eva
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To: Eva
The only way to deal with Mitt Romney is to keep the pressure, don’t ever let up and let him know that he wasn’t elected to compromise with the left.

It's always worked so well in the past, hasn't it?

30 posted on 06/11/2012 11:12:22 AM PDT by Balding_Eagle (Liberals, at their core, are aggressive & dangerous to everyone around them,)
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To: tet68

BIG bumper sticker (edited):

Recession = Neighbor’s unemployed.
Depression = You’re unemployed.
Recovery = 0bummer’s unemployed.


31 posted on 06/11/2012 11:16:44 AM PDT by carriage_hill (All libs & most dems think that life is just a sponge bath, with a happy ending.)
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To: Nachum
I just saw the Press Kid on TV and learned the new campaign word is The Great Recession.
32 posted on 06/11/2012 11:41:30 AM PDT by TexasCajun
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To: Nachum

...well they’ve been trying very hard to get us to depression status, so I’m sure Krugman is very proud.

Liberals love poor people: why do you think they make so many of them?


33 posted on 06/11/2012 11:48:36 AM PDT by Tzimisce (THIS SUCKS)
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To: Tublecane
Yes it is, as obviously many make a career out of it. I’m, not sure what you’re getting at here, exactly. Congressmen don’t decide on their own whether they’re going to be elected, although often enough for the ones who have been in there long enough election is all but guaranteed. But it’s not as if in other lines of work people unilaterally decide whether they’ll stay employed. The entity employing you, or if you’re self-employed the market, may decide to chuck you out of a job just as surely as the electorate may fail to re-elect a senator.

A career choice: A career I choose to work towards and remain in through my own hard work. Not a career choice: Continued employment is directly related to a popularity contest held every two or six years.

Service as a representative or a senator was never created nor intended to be a 'full time job,' nor would it be if the federal government limited itself to the powers granted it by the constitution. It is by corrupting this ideal that many of these asinine and idiotic ideals keep pumping out of Washington, as people try to justify their extended efforts there.

As I said, I certainly view them as the worst of the worst when it comes to public employee unions, liberal or conservative.

34 posted on 06/11/2012 11:56:42 AM PDT by kingu (Everything starts with slashing the size and scope of the federal government.)
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To: kingu

And all members of Congress be required to submit to random drug tests.


35 posted on 06/11/2012 12:20:34 PM PDT by jmacusa (Political correctness is cultural Marxism. I'm not a Marxist.)
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To: Balding_Eagle

No, it hasn’t worked out because George Bush had us fooled. Most of us didn’t believe that compassionate conservatism was essentially, The Third Way, but that is exactly what it was.


36 posted on 06/11/2012 12:36:18 PM PDT by Eva
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To: kingu

You have very clear ideas. Let congressmen be subject to all laws we are.


37 posted on 06/11/2012 1:31:43 PM PDT by kenavi (Obama doesn't hate private equity. He wants to be it with our money.)
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To: kingu

You have very clear ideas. Let congressmen be subject to all laws we are.


38 posted on 06/11/2012 1:32:02 PM PDT by kenavi (Obama doesn't hate private equity. He wants to be it with our money.)
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To: Red Badger

Paul lives and works in the same state as did Rip Van Winkle. It’s in the water. sd


39 posted on 06/11/2012 1:40:01 PM PDT by shotdog (I love my country. It's our government I'm afraid of.)
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To: shotdog

But RVW was drugged by elves...........oh, uh...nevermind..........


40 posted on 06/11/2012 1:42:20 PM PDT by Red Badger (Think logically. Act normally.................)
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