Topic: An Imaginary Budget and Debt Crisis - page 3. (Read 2474 times)
There is not (and never in recent history has there been) a debt crisis in the US.Anyone saying otherwise gives you a good idea of who doesn't know what the fuck they're talking about.
"delicate balance"
Oh yes... the "delicate balance" of our ongoing large scale ground war, a US Congress full of Republicans constantly threatening to shut down government, civil wars across the Middle East, and a re-igniting Palestinian conflict, a suspected spying being confirmed.
Yeah, bro! We better be really careful not to upset things.
Oh yes... the "delicate balance" of our ongoing large scale ground war, a US Congress full of Republicans constantly threatening to shut down government, civil wars across the Middle East, and a re-igniting Palestinian conflict, a suspected spying being confirmed.
Yeah, bro! We better be really careful not to upset things.
He is right. The debt ceiling crises are completely artificial in nature .....
No, he is wrong. If anything upsets the delicate balance we have right now, all of the debt will immediately be a huge problem. The fact that central banks have kept interest rates at zero or negative rates, and have continued massive bond buying programs, hides the problem. In no rational world should Italy and France be able to borrow at their current rates. But what else can Krugman say? He has unclean hands. He advocated for this interest rate environment. So now every column he writes is designed to hide the issues it is creating. Just last week he argued the rich are the only ones clamoring for higher inflation and rates as they are being punished by lower rates because of their large bond holdings. He wrote this column two months after saying that the stock market boom is disproportionately benefiting the rich. The man has no credibility. 
He is right. The debt ceiling crises are completely artificial in nature .....
The Fiscal Fizzle
Quote
For much of the past five years readers of the political and economic news were left in little doubt that budget deficits and rising debt were the most important issue facing America. Serious people constantly issued dire warnings that the United States risked turning into another Greece any day now. President Obama appointed a special, bipartisan commission to propose solutions to the alleged fiscal crisis, and spent much of his first term trying to negotiate a Grand Bargain on the budget with Republicans.
That bargain never happened, because Republicans refused to consider any deal that raised taxes. Nonetheless, debt and deficits have faded from the news. And there’s a good reason for that disappearing act: The whole thing turns out to have been a false alarm.
http://www.nytimes.com/2014/07/21/opinion/Paul-Krugman-An-Imaginary-Budget-and-Debt-Crisis.html?&_r=0That bargain never happened, because Republicans refused to consider any deal that raised taxes. Nonetheless, debt and deficits have faded from the news. And there’s a good reason for that disappearing act: The whole thing turns out to have been a false alarm.
This from Krugman? Lol. The same guy who thought the internet would have only as much impact as a fax machine and opines about bitcoin (and other things) without having even a teaspoon of knowledge.
The lap dog of the authoritarians?
I wouldn't say that it is a false alarm, as the GOP is still trying to cut the deficit, however Obama and his liberal friends are trying to tie any budget negotiations to make it so that any deal would include the furthering of crazy liberal policies.
It was not Obama that was trying to get our fiscal house in order, it was the GOP when they took over control of the House and took away Democrats supermajority of the Senate. Democrats had control of both chambers of congress for two years and could have fixed our fiscal problems, but instead spent trillions in deficit spending for "stimulus"
It was not Obama that was trying to get our fiscal house in order, it was the GOP when they took over control of the House and took away Democrats supermajority of the Senate. Democrats had control of both chambers of congress for two years and could have fixed our fiscal problems, but instead spent trillions in deficit spending for "stimulus"
The Fiscal Fizzle
Quote
For much of the past five years readers of the political and economic news were left in little doubt that budget deficits and rising debt were the most important issue facing America. Serious people constantly issued dire warnings that the United States risked turning into another Greece any day now. President Obama appointed a special, bipartisan commission to propose solutions to the alleged fiscal crisis, and spent much of his first term trying to negotiate a Grand Bargain on the budget with Republicans.
That bargain never happened, because Republicans refused to consider any deal that raised taxes. Nonetheless, debt and deficits have faded from the news. And there’s a good reason for that disappearing act: The whole thing turns out to have been a false alarm.
http://www.nytimes.com/2014/07/21/opinion/Paul-Krugman-An-Imaginary-Budget-and-Debt-Crisis.html?&_r=0That bargain never happened, because Republicans refused to consider any deal that raised taxes. Nonetheless, debt and deficits have faded from the news. And there’s a good reason for that disappearing act: The whole thing turns out to have been a false alarm.
This from Krugman? Lol. The same guy who thought the internet would have only as much impact as a fax machine and opines about bitcoin (and other things) without having even a teaspoon of knowledge.
The lap dog of the authoritarians?
Isn't it surprising people still read what this Krugman wrote? He is always on the wrong side on almost every important issue.
Seeing as BTC is at $620 and not $10.. he is probably wrong.
The Fiscal Fizzle
Quote
For much of the past five years readers of the political and economic news were left in little doubt that budget deficits and rising debt were the most important issue facing America. Serious people constantly issued dire warnings that the United States risked turning into another Greece any day now. President Obama appointed a special, bipartisan commission to propose solutions to the alleged fiscal crisis, and spent much of his first term trying to negotiate a Grand Bargain on the budget with Republicans.
That bargain never happened, because Republicans refused to consider any deal that raised taxes. Nonetheless, debt and deficits have faded from the news. And there’s a good reason for that disappearing act: The whole thing turns out to have been a false alarm.
http://www.nytimes.com/2014/07/21/opinion/Paul-Krugman-An-Imaginary-Budget-and-Debt-Crisis.html?&_r=0That bargain never happened, because Republicans refused to consider any deal that raised taxes. Nonetheless, debt and deficits have faded from the news. And there’s a good reason for that disappearing act: The whole thing turns out to have been a false alarm.
This from Krugman? Lol. The same guy who thought the internet would have only as much impact as a fax machine and opines about bitcoin (and other things) without having even a teaspoon of knowledge.
The lap dog of the authoritarians?
When Obama's budget failed 413-2, it's not exactly fair to blame the republicans.
The Fiscal Fizzle
Quote
For much of the past five years readers of the political and economic news were left in little doubt that budget deficits and rising debt were the most important issue facing America. Serious people constantly issued dire warnings that the United States risked turning into another Greece any day now. President Obama appointed a special, bipartisan commission to propose solutions to the alleged fiscal crisis, and spent much of his first term trying to negotiate a Grand Bargain on the budget with Republicans.
That bargain never happened, because Republicans refused to consider any deal that raised taxes. Nonetheless, debt and deficits have faded from the news. And there’s a good reason for that disappearing act: The whole thing turns out to have been a false alarm.
http://www.nytimes.com/2014/07/21/opinion/Paul-Krugman-An-Imaginary-Budget-and-Debt-Crisis.html?&_r=0 That bargain never happened, because Republicans refused to consider any deal that raised taxes. Nonetheless, debt and deficits have faded from the news. And there’s a good reason for that disappearing act: The whole thing turns out to have been a false alarm.
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