[Krugman] 1938 in 2010 (keep piling up gov debts)

NYT ^ | 09/06/10 | PAUL KRUGMAN

[TigerLikesRooster]

1938 in 2010

By PAUL KRUGMAN

Here’s the situation: The U.S. economy has been crippled by a financial crisis. The president’s policies have limited the damage, but they were too cautious, and unemployment remains disastrously high. More action is clearly needed. Yet the public has soured on government activism, and seems poised to deal Democrats a severe defeat in the midterm elections.

The president in question is Franklin Delano Roosevelt; the year is 1938. Within a few years, of course, the Great Depression was over. But it’s both instructive and discouraging to look at the state of America circa 1938 — instructive because the nature of the recovery that followed refutes the arguments dominating today’s public debate, discouraging because it’s hard to see anything like the miracle of the 1940s happening again.

[TigerLikesRooster]

This guy has lost it.

[TigerLikesRooster]

P!

[Smber]

World War II anyone?? Don’t forget that FDR’s policies had PROLONGED it from the early 1930’s to 1938.

[Darkwolf377]

This guy has lost it.

You said what I was going to, but you did it much more precisely so I deleted what I was typing.

[MNJohnnie]

http://www.thefreemanonline.org/columns/what-ended-the-great-depression/#

Much better article on what really finally ended the Great Depression.

[silverleaf]

Maybe Barry will be saved by WW3

[TigerLikesRooster]

That and overcapacity in world economy was destroyed. Production facilities in Europe and Japan were completely annihilated.

[NavVet]

Henry Morgenthau, Roosevelt’s Treasury Secretary:

“We have tried spending money. We are spending more than we have ever spent before and it does not work. And I have just one interest, and if I am wrong . . . somebody else can have my job. I want to see this country prosperous. I want to see people get a job. I want to see people get enough to eat. We have never made good on our promises. . . . I say after eight years of this Administration we have just as much unemployment as when we started. . . . And an enormous debt to boot.”

[Rashputin]

So, with Barry as our fearless leader, all we need to do is borrow trillions and use it to blow away European, Russian, Chinese, Indian, and Japanese, production capability right after recreating the surplus capacity we had when WWII started.

The guy who wrote this article obviously has a degree from a prestigious university.

[Bon mots]

The president in question is Franklin Delano Roosevelt; the year is 1938. Within a few years, of course, the Great Depression was over.

Is he on drugs? The Great Depression did not officially end until 1946. It went on for more than 13 years under the misguided foolishness of FDR!

Unemployment was cured by Hitler - once you put all the unemployed men into a uniform and send them overseas, there are no more unmployed men... of course, he plunged us into a "foreign war" exactly as he PROMISED NOT TO DO.

[Bon mots]

...or CWII...

[gusopol3]

Just think, Paul, if Werner von Braun and the German scientists had been the ones to come up with the atomic bomb ? Gee, then we would have been the ones to have lost the war. It wasn’t the spending, dolt; it was winning the war.

[Common Sense 101]

Only to a brain-dead liberal “intellectual” could a trillion dollars in government spending be seen as “too cautious”.

[Kozak]

[PogySailor]

He lost it a long time ago. Along with the rest of the Keynsian kool-aid drinkers.

[Popman]

The president in question is Franklin Delano Roosevelt; the year is 1938. Within a few years, of course, the Great Depression was over.

Krugman is really a dumb ass

The year in question is "1938" a full nine years after the crash.

So he is arguing his point that a full nine years after the crash his Keynesian Pollyanna in the sky theories worked

Does he even read what he wrote ???

[TigerLikesRooster]

The catastrophe of Keynesian policy is laid bare for all to see now. Screaming the denial even at this moment makes me believe that he is more insane than those preceding him. At least they could afford to weasel out because evidence was not so clear-cut then.

[TigerLikesRooster]

His lawyer should declare that he is legally insane.:-)
That would save a lot of trouble for us and Krugman himself.

[Leisler]

Never would of happened. Even Nazi’s have to live in a real, physical world. Nazi Germany didn’t have the scientist, the resources, nor the money.

[meyer]

This guy has lost it.

Krugman? It's my opinion that he never had it!