[arrendabomnem]

http://www.nytimes.com/2011/05/23/op...rssnyt&emc=rss




I often complain, with reason, about the state of economic discussion in the United States. And the irresponsibility of certain politicians — like those Republicans claiming that defaulting on U.S. debt would be no big deal — is scary.

But at least in America members of the pain caucus, those who claim that raising interest rates and slashing government spending in the face of mass unemployment will somehow make things better instead of worse, get some pushback from the Federal Reserve and the Obama administration.

In Europe, by contrast, the pain caucus has been in control for more than a year, insisting that sound money and balanced budgets are the answer to all problems. Underlying this insistence have been economic fantasies, in particular belief in the confidence fairy — that is, belief that slashing spending will actually create jobs, because fiscal austerity will improve private-sector confidence.
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[MarythePuppy6]

http://www.nytimes.com/2011/05/23/op...rssnyt&emc=rss

Krugman is real dumb for a Nobel prize winner.

He always talks about European austerity but I fail to see any similarity between the US and Greece or Ireland.

He's right about some things, very wrong about others. All he tries to do is score points against the GOP and push a global capitalist agenda that appeals to liberals with college degrees.

What is this piece even about? Hopelessly diluted musings on EU economic policy, just so he can get in a jab at Republicans at the beginning--to help support his economic policy of high spending and no job creation.