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Johnny M. Keynes
Paul Krugman Tell U.S. to Get Off Its Ass and Implement a Decent Stimulus Program 4/30/2012 8:29PM Reply | Return to Index | Report Post
For once, I think he's right. Europe has gone austerity and is sinking like the Titanic.
mileage man
RE: Paul Krugman Tell U.S. to Get Off Its Ass and Implement a Decent Stimulus Program 4/30/2012 8:32PM - in reply to Johnny M. Keynes Reply | Return to Index | Report Post
Agreed.
fdsf
RE: Paul Krugman Tell U.S. to Get Off Its Ass and Implement a Decent Stimulus Program 4/30/2012 8:53PM - in reply to Johnny M. Keynes Reply | Return to Index | Report Post
Krugman isn't a socialist like the people at Cato or REASON mag will tell you.

He considers himself a rawlsian(veil of ignorance,etc).

Austerity is ok when growth is good. We need growth back, spend to get the economy going and cut back gradually. Its the debt:GDP ratio that really matters.

Europe can't borrow. America still can.

Oh, and China isn't going to surpsass the American economy for at least 20 years(they're GDP/capita is 1/4 of ours and their population is 4x as ours, and the world economic forum rated (in 2009) our economy as the most competitive.) China's economy is big, but not as sophisticated as other's like Japan.
fdsf
RE: Paul Krugman Tell U.S. to Get Off Its Ass and Implement a Decent Stimulus Program 4/30/2012 8:57PM - in reply to fdsf Reply | Return to Index | Report Post
check that, we're rated 5th. China is ranked 26th.

http://www3.weforum.org/docs/WEF_GCR_CompetitivenessIndexRanking_2011-12.pdf

fdsf wrote:

and the world economic forum rated (in 2009) our economy as the most competitive.)
sold2u
RE: Paul Krugman Tell U.S. to Get Off Its Ass and Implement a Decent Stimulus Program 4/30/2012 8:58PM - in reply to Johnny M. Keynes Reply | Return to Index | Report Post
Why has Keynsian spending been such a failure in Japan, and why did austerity work so well after the Asian crisis?
Math Counts
RE: Paul Krugman Tell U.S. to Get Off Its Ass and Implement a Decent Stimulus Program 4/30/2012 9:02PM - in reply to fdsf Reply | Return to Index | Report Post
fdsf wrote:

Oh, and China isn't going to surpsass the American economy for at least 20 years(they're GDP/capita is 1/4 of ours and their population is 4x as ours, and the world economic forum rated (in 2009) our economy as the most competitive.) China's economy is big, but not as sophisticated as other's like Japan.


Let's see if I got this right. China has a GDP/capita 1/4 that of the US. They also have a population 4 x ours. Let's see, 4 x (1/4) = ...ummm...carry the one... So, China currently has the same GDP as the US?

OK, I'll buy that.

Now China won't surpass the American economy for at least 20 years. So...China's growth will not exceed that of the US for at least 20 years? Am I doing the math right?

This is so confusing.
fdsf
RE: Paul Krugman Tell U.S. to Get Off Its Ass and Implement a Decent Stimulus Program 4/30/2012 9:07PM - in reply to sold2u Reply | Return to Index | Report Post
sold2u wrote:

Why has Keynsian spending been such a failure in Japan, and why did austerity work so well after the Asian crisis?


read up on japan.

http://www.nytimes.com/2012/04/29/magazine/chairman-bernanke-should-listen-to-professor-bernanke.html?pagewanted=all
sold2u
RE: Paul Krugman Tell U.S. to Get Off Its Ass and Implement a Decent Stimulus Program 4/30/2012 9:14PM - in reply to fdsf Reply | Return to Index | Report Post
fdsf wrote:

[quote]sold2u wrote:

Why has Keynsian spending been such a failure in Japan, and why did austerity work so well after the Asian crisis?


read up on japan.

http://www.nytimes.com/2012/04/29/magazine/chairman-bernanke-should-listen-to-professor-bernanke.html?pagewanted=all[/quote]

With all due respect to Dr Krugman, Japan has been mired in a slow growth period for over 20 years, and in the process has taken their debt to GDP ratio to 2.2x (ours is something like .85x)

Sorry, the "more cowbell" explanation doesn't wash anymore.
fdsf
RE: Paul Krugman Tell U.S. to Get Off Its Ass and Implement a Decent Stimulus Program 4/30/2012 9:15PM - in reply to Math Counts Reply | Return to Index | Report Post
Math Counts wrote:

[quote]fdsf wrote:

Oh, and China isn't going to surpsass the American economy for at least 20 years(they're GDP/capita is 1/4 of ours and their population is 4x as ours, and the world economic forum rated (in 2009) our economy as the most competitive.) China's economy is big, but not as sophisticated as other's like Japan.


Let's see if I got this right. China has a GDP/capita 1/4 that of the US. They also have a population 4 x ours. Let's see, 4 x (1/4) = ...ummm...carry the one... So, China currently has the same GDP as the US?

OK, I'll buy that.

Now China won't surpass the American economy for at least 20 years. So...China's growth will not exceed that of the US for at least 20 years? Am I doing the math right?

This is so confusing.[/quote]

http://data.worldbank.org/country/united-states
http://data.worldbank.org/country/china

USA

GDP (current US$)
$14,586,736,313,339 2010

Population, total
309,349,000 2010

China

GDP (current US$)
$5,926,612,009,750 2010

Population, total
1,338,300,000 2010


http://www.google.com/publicdata/explore?ds=d5bncppjof8f9_#!ctype=l&strail=false&bcs=d&nselm=h&met_y=ny_gdp_pcap_kd&scale_y=lin&ind_y=false&rdim=region&idim=region:NAC:EAP&ifdim=region&hl=en_US&dl=en_US&ind=false

http://www.google.com/publicdata/explore?ds=d5bncppjof8f9_#!ctype=l&strail=false&bcs=d&nselm=h&met_y=ny_gdp_pcap_cd&scale_y=lin&ind_y=false&rdim=country&idim=country:CHN:USA&ifdim=country&hl=en_US&dl=en_US&ind=false
Sagarin
RE: Paul Krugman Tell U.S. to Get Off Its Ass and Implement a Decent Stimulus Program 4/30/2012 9:25PM - in reply to Johnny M. Keynes Reply | Return to Index | Report Post
Krugman's wrong. There's no basis in comparison to the patchwork quilt based on the honor code that is "Europe." Bernanke is the frog sitting in the hot water that isn't yet boiling.

http://www.grantspub.com/userfiles/files/g30n06d.pdf
fdsf
RE: Paul Krugman Tell U.S. to Get Off Its Ass and Implement a Decent Stimulus Program 4/30/2012 9:30PM - in reply to Sagarin Reply | Return to Index | Report Post
Sagarin wrote:

Krugman's wrong. There's no basis in comparison to the patchwork quilt based on the honor code that is "Europe." Bernanke is the frog sitting in the hot water that isn't yet boiling.

http://www.grantspub.com/userfiles/files/g30n06d.pdf


Not surprised there. Another libertarian loon.

http://en.wikipedia.org/wiki/James_Grant_(finance)#cite_note-5

"2012 election

Ron Paul named Grant as his likely candidate for Chairman of the Federal Reserve to replace Ben Bernanke whose term expires in 2014."
Sagarin
RE: Paul Krugman Tell U.S. to Get Off Its Ass and Implement a Decent Stimulus Program 4/30/2012 9:41PM - in reply to fdsf Reply | Return to Index | Report Post
Yep, don't take the time to read it, just try to undermine its credibility based on the source. Yet another simpleton. Grant, like Lacy Van Hunt, may, just may, have a point. The Fed has strayed far from its charter. The only thing Paul and Grant have in common is a yearning for a basis in reality, like the gold standard. But, Grant makes a much more scintillating point while appropriately castigating the Fed. Try again.
Math Counts
RE: Paul Krugman Tell U.S. to Get Off Its Ass and Implement a Decent Stimulus Program 4/30/2012 9:46PM - in reply to fdsf Reply | Return to Index | Report Post
fdsf wrote:

USA

GDP (current US$)
$14,586,736,313,339 2010

Population, total
309,349,000 2010

China

GDP (current US$)
$5,926,612,009,750 2010

Population, total
1,338,300,000 2010



Ah, I see. So what you meant to say was that China has less than 1/10 of the GDP/capita of the US.

Got it.
fdsf
RE: Paul Krugman Tell U.S. to Get Off Its Ass and Implement a Decent Stimulus Program 4/30/2012 9:46PM - in reply to Sagarin Reply | Return to Index | Report Post
Sagarin wrote:

Yep, don't take the time to read it, just try to undermine its credibility based on the source. Yet another simpleton. Grant, like Lacy Van Hunt, may, just may, have a point. The Fed has strayed far from its charter. The only thing Paul and Grant have in common is a yearning for a basis in reality, like the gold standard. But, Grant makes a much more scintillating point while appropriately castigating the Fed. Try again.


NO NO NO. You lose all credibility when you argue for the gold standard, even conservative leaning economists like mankiw think thats total bs.

But I'm impressed you chose not to use a "vote, blah blah blah, 2012" sign off.
fdsf
RE: Paul Krugman Tell U.S. to Get Off Its Ass and Implement a Decent Stimulus Program 4/30/2012 9:47PM - in reply to Math Counts Reply | Return to Index | Report Post
Math Counts wrote:

[quote]fdsf wrote:

USA

GDP (current US$)
$14,586,736,313,339 2010

Population, total
309,349,000 2010

China

GDP (current US$)
$5,926,612,009,750 2010

Population, total
1,338,300,000 2010



Ah, I see. So what you meant to say was that China has less than 1/10 of the GDP/capita of the US.

Got it.[/quote]


no, here dummy.

http://tinyurl.com/882q3cb
TCB
RE: Paul Krugman Tell U.S. to Get Off Its Ass and Implement a Decent Stimulus Program 4/30/2012 10:13PM - in reply to sold2u Reply | Return to Index | Report Post
sold2u wrote:

Why has Keynsian spending been such a failure in Japan, and why did austerity work so well after the Asian crisis?


Japan's slow growth has been a symptom of a declining population. GDP per capita has actually increased faster than in the US and Europe. High debt has been a symptom of the slow overall economic growth.

Austerity worked well in the Asian tigers because there were all export economies and benefited from booming economies in the US and China.
Sagarin
RE: Paul Krugman Tell U.S. to Get Off Its Ass and Implement a Decent Stimulus Program 4/30/2012 10:28PM - in reply to fdsf Reply | Return to Index | Report Post
fdsf wrote:

[quote]Sagarin wrote:

Yep, don't take the time to read it, just try to undermine its credibility based on the source. Yet another simpleton. Grant, like Lacy Van Hunt, may, just may, have a point. The Fed has strayed far from its charter. The only thing Paul and Grant have in common is a yearning for a basis in reality, like the gold standard. But, Grant makes a much more scintillating point while appropriately castigating the Fed. Try again.


NO NO NO. You lose all credibility when you argue for the gold standard, even conservative leaning economists like mankiw think thats total bs.

But I'm impressed you chose not to use a "vote, blah blah blah, 2012" sign off.[/quote]

I'm not advocating the gold standard. The point is, Grant's remarks aren't any less accurate and compelling. Try reading the article. And correct your link while you're at it.

http://www.grantspub.com/userfiles/files/g30n06d.pdf

http://www.hoisingtonmgt.com/pdf/HIM2012Q1NP.pdf
Math Counts
RE: Paul Krugman Tell U.S. to Get Off Its Ass and Implement a Decent Stimulus Program 4/30/2012 11:14PM - in reply to fdsf Reply | Return to Index | Report Post
fdsf wrote:

[quote]Math Counts wrote:

[quote]fdsf wrote:

USA

GDP (current US$)
$14,586,736,313,339 2010

Population, total
309,349,000 2010

China

GDP (current US$)
$5,926,612,009,750 2010

Population, total
1,338,300,000 2010



Ah, I see. So what you meant to say was that China has less than 1/10 of the GDP/capita of the US.

Got it.[/quote]


no, here dummy.

http://tinyurl.com/882q3cb[/quote]

Not really.

Here you go.

http://www.bing.com/images/search?q=middle+finger&view=detail&id=2EB791271F74E0D83B4575CA005026D75072A877&first=0&FORM=IDFRIR
luv2run
RE: Paul Krugman Tell U.S. to Get Off Its Ass and Implement a Decent Stimulus Program 4/30/2012 11:25PM - in reply to Johnny M. Keynes Reply | Return to Index | Report Post
Remember that Krugman was an advisor to Enron. You cannot borrow your way out of debt.
annaliese
RE: Paul Krugman Tell U.S. to Get Off Its Ass and Implement a Decent Stimulus Program 5/1/2012 12:07AM - in reply to luv2run Reply | Return to Index | Report Post
Krugman knows he's full of it. He advocates the statist insanity that he does because he despises the egoism and profit motive of capitalism.
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