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**Zvssxstw** · 07-05-2010, 11:58 AM

Someone's been reading Paul Krugman's NYT's column, The Third Depression. The Nobel Prize winning economist has been saying just this for a while now, although he advocates more stimulus money, not the duck & cover policies that many are espousing these days.

What Mr. Krugman said yesterday of GPS with Fareed Zakaria is that yes, some jobs will never come back, but corporations have large amounts of cash that they are just sitting on, not investing. Congress does not have the political will to authorize what is needed, a much larger stimulus, something he advocated from the beginning. As a Kyenesian economist, he is in stark opposition to the Reaganomics-like policies now being pushed by many in Congress. He argues, and rightly so, that Reaganomics ultimately led to more poverty (despite being touted as "trickle-down," it didn't), and exploding deficits which for the first time in history took the U.S. from a creditor nation to a debtor nation.

07-05-2010, 11:58 AM	#2
Zvssxstw Join Date Oct 2005 Posts 481 Senior Member	Someone's been reading Paul Krugman's NYT's column, The Third Depression. The Nobel Prize winning economist has been saying just this for a while now, although he advocates more stimulus money, not the duck & cover policies that many are espousing these days. What Mr. Krugman said yesterday of GPS with Fareed Zakaria is that yes, some jobs will never come back, but corporations have large amounts of cash that they are just sitting on, not investing. Congress does not have the political will to authorize what is needed, a much larger stimulus, something he advocated from the beginning. As a Kyenesian economist, he is in stark opposition to the Reaganomics-like policies now being pushed by many in Congress. He argues, and rightly so, that Reaganomics ultimately led to more poverty (despite being touted as "trickle-down," it didn't), and exploding deficits which for the first time in history took the U.S. from a creditor nation to a debtor nation.
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