By Kevin Spak
Detroit spent the last decade spiraling into bankruptcy, while Atlanta spent it growing like mad. But the two cities have something in common: “Both are places where the American dream seems to be dying,” writes Paul Krugman at the New York Times . Social mobility is low in both cities—meaning… …read more
Source: FULL ARTICLE at Newser – Home
By The Huffington Post News Editors
Paul Krugman’s got it right when it comes to the economic crisis, says Paul Krugman.
The Nobel Prize-winning economist and New York Times columnist responded in a blog post Sunday to his countless critics who claim he’s choosing specific facts and ignoring others to make his case that budget-tightening policies are hurting economies around the world.
His comments come as debate rages in Washington and in Europe over whether slashing spending — which has led to high unemployment and slowed immediate economic growth in some places — is the best way to boost economies in the long term.
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Source: FULL ARTICLE at Huffington Post
By The Huffington Post News Editors
F.D.R. told us that the only thing we had to fear was fear itself. But when future historians look back at our monstrously failed response to economic depression, they probably won’t blame fear, per se. Instead, they’ll castigate our leaders for fearing the wrong things.
From: http://www.huffingtonpost.com/2013/04/22/paul-krugman-we-are-creat_n_3131035.html
By Jon Matonis
A piece from Paul Krugman in The New York Times this week criticizes bitcoin for being antisocial and for not having a State-controlled supply while secretly admiring its powerful abstractness.
From: http://www.forbes.com/sites/jonmatonis/2013/04/18/the-fiat-emperor-has-no-clothes/
Amid an ongoing decline in the price of gold, a major brawl recently broke out in the elite media over … the gold standard. What is this free-for-all all about? And why does it matter? It matters because… the gold standard finally has demonstrated that, after a long eclipse, it is being taken seriously in elite (if not uniformly polite) company.
Margaret Thatcher, who served as prime minister of Britain from 1979 to 1990, is most famous for teaming up with my father Ronald Reagan and Pope John Paul II to peacefully end the Cold War and bring about the collapse of the Soviet Union.
But at home, the “Iron Lady’s” intellect, political will, and love of freedom and capitalism also saved Britain from its long, slow death by socialism.
Prime Minister Thatcher freed up Britain’s economy by deregulating business, privatizing government-owned industries, and breaking the back of the powerful unions that were smothering her country to death.
Not that The New York Times can bring itself to give Lady Thatcher much credit for any of this in its coverage of her death from a stroke on Monday at age 87.
Paul Krugman, the pathetic Times’ in-house apologist for the serial failures of the Obama Economy, dug out some arcane data that he said raises doubts that Thatcher’s pro-capitalist policies actually did anything to turn around Britain’s economy.
Meanwhile, a so-called news article in the Times on Wednesday about the debate over Thatcher’s legacy in the British Parliament is the latest example of how the Paper of Record’s liberal bias is always at work.
Two Times writers — John F. Burns and Alan Cowell — said, “The Thatcher era is generally recalled as a time when a capitalist revolution crushed labor unions, decimated staid industries that had once formed the nation’s economic base, and inaugurated a period of robust economic growth that sanctified a generation’s acquisitiveness.”
No bias there, right?
I think Burns and Cowell spent more time describing what nasty things Thatcher’s left-wing critics in the Labor Party had to say about her than mentioning her triumphs.
But Lady Thatcher doesn’t need the support of The New York Times or Hollywood to make it into the history books. Her accomplishments on the world stage will speak for themselves forever.
I’ll never forget meeting Lady Thatcher several times in London and in the United States. But my greatest memory of her occurred in 2004 when, despite being very ill, she attended my father’s funeral at the Reagan Library.
The morning after the funeral, as I was eating at the hotel with my family, I greeted Lady Thatcher when she came in for breakfast.
“Oh, Michael,” she said in that great accent of hers. “Think of how much we could have accomplished if your father had been elected in 1976, not 1980.”
“Lady Thatcher,” I said with the greatest respect, “I think God chooses the time for many of the things that happen in the world. And 1976 wasn’t that time; 1980 in fact was.”
“Why would you say that?” she said.
“Simply because I look at 1976 and I say, ‘Where was Margaret Thatcher? Where was Pope John Paul II? Where was Lech Walesa and Helmut Kohl and Mikhail Gorbachev?’ In 1976, none of you were in positions of power to do anything.
“But 1980 was the right time,” I said to Lady Thatcher.
“You were prime minister. Pope John Paul was pope. And you had
From: http://www.westernjournalism.com/remembering-margaret-thatcher/
By Brian Domitrovic, Contributor
In 2008, Ben Bernanke’s and Paul Krugman’s star former doctoral student at Princeton, the economist Gauti B. Eggertsson, published an article in the American Economic Review, the field’s top journal, on the manifest excellence of the New Deal of the 1930s. One of the claims: “1933-1937 registered the strongest output growth (39 percent) of any four-year period in US history outside of wartime.” …read more
Source: FULL ARTICLE at Forbes Latest
Sigh. Paul Krugman has once again trotted out a mountainful of myths in his Sunday column:
it?s hard to think of a proposition that has been more thoroughly refuted by history than the notion that social insurance undermines a free society. Almost 70 years have passed since Friedrich Hayek predicted (or at any rate was understood by his admirers to predict) that Britain?s welfare state would put the nation on the slippery slope to Stalinism; 46 years have passed since Medicare went into effect; as far as most of us can tell, freedom hasn?t died on either side of the Atlantic. …read more
Source: FULL ARTICLE at Forbes Health
By Karl Smith, Contributor There is really no way to make this interesting to non-geeks but I am elated/tickled that Paul Krugman is peddling Dark Matter like thinking on his blog as common sense. This is almost as good as when he titled a column “Kick That Can” For late comers I am long time proponent of Can Kicking. I mean we even have the infamous hedge fund analogy Because US assets are higher-yielding although riskier than US liabilities, we still earn more from our investments than we pay on our liabilities. In the aggregate, America is a bit like a hedge fund that borrows to make risky investments; that’s arguably not a good thing, but it’s not a story of living beyond our means. Granted there is clearly still some hesitation. I didn’t miss the “arguably not a good thing line.” But still, the Greatest Trade Economist of Our Time is now in our camp. Incenditially, I think Dark Matter is behind much of the UK Productivity Puzzle and is also behind “The Great Takedown.” The later is the not yet realized bombshell that the US in general and the US Federal Government in particular made out like gangbusters in the Great Recession. I am still trying to tie this all together but a full accounting of US Treasury “profits” from the Global Financial Crisis look to number in the trillions. As we will probably come to see – US households didn’t do to shabby either. The baseline is for net household wealth will be on tear over the next few years as the asset side of the ledger pays-in increasing real dividends and the liability side of the ledger pays-out near negative real interest rates. …read more
Source: FULL ARTICLE at Forbes Latest
By The Huffington Post News Editors
When the Great Depression struck, many influential people argued that the government shouldn’t even try to limit the damage. According to Herbert Hoover, Andrew Mellon, his Treasury secretary, urged him to “Liquidate labor, liquidate stocks, liquidate the farmers. … It will purge the rottenness out of the system.”
Source: FULL ARTICLE at Huffington Post
By Charles Biderman, Contributor Princeton Professor and New York Times columnist Paul Krugman must be feeling the heat. In a recent blog he referred to David Stockman’s March 31 brilliant NY Times OpEd was “pathetic and embarrassing.” Why do I say Stockman’s article was brilliant? Stockman’s main point is that, “Sooner or later, within a few years, this latest Wall Street bubble, inflated by an egregious flood of phony money from the Federal Reserve rather than real economic gains, will explode.” …read more
Source: FULL ARTICLE at Forbes Latest
By The Huffington Post News Editors
Modern movement conservatism, which transformed the G.O.P. from the moderate party of Dwight Eisenhower into the radical right-wing organization we see today, was largely born in California. The Golden State, even more than the South, created today’s religious conservatism; it elected Ronald Reagan governor; it’s where the tax revolt of the 1970s began.
By The Huffington Post News Editors
Paul Krugman says Cyprus needs the abandon the euro immediately in order to save its economy.
“Cyprus should leave the euro. Now,” the Nobel Prize-winning economist wrote in a blog post on Tuesday.
The New York Times columnist wrote that starting a new, cheaper currency would allow Cyprus‘ economy to recover more quickly. Meanwhile, he wrote, Cyprus‘ economy might shrink as much as 20 percent if it stays in the eurozone. That’s because Cyprus‘ days as an offshore tax haven are likely over, and the eurozone plans to force the government to implement steep budget cuts, which would hurt the economy, Krugman wrote.
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By The Huffington Post News Editors
Paul Krugman is getting a bit fed up with all of this “right-wing huffiness.”
The Nobel Prize-winning economist and New York Times columnist criticized conservatives in a blog post Saturday for accusing left-leaning Slate blogger Matt Yglesias of hypocrisy for, of all things, buying a condo. In fact, as Krugman sees it, the right-wing bloggers are the ones acting hypocritical in this case by “attacking success” after they told everyone to lay off the super-rich during the 2012 presidential campaign.
“These guys don’t actually believe in any rules at all,” Krugman wrote. “Whatever rule they may lay down in one case, they’ll break in an instant if they think they see an advantage.”
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More on Paul Krugman
Watching the round-table discussion on ABC Sunday mornings is instructive. George Will always provides unique insight couched in history. He made the essential point recently that the two political parties are so far apart that any compromise on financial issues appears unlikely. Along with Republican Sen. Ron Johnson of Wisconsin on the panel, Will’s input was routinely constructive, oriented to problem-solving, never going so low as to employ personal attack.
Others, like Rep. Debbie Wasserman-Schultz and Paul Krugman, agreed with Will: there is a tremendous trust deficit responsible for gridlock.
Conservatives in Congress do not trust this President, and for good reason. It is very difficult, if impossible, to work with someone who smiles reassuringly in private, then eviscerates in public.
I find it amusing people like Wasserman-Schultz and Krugman decry distrust and gridlock. They call for restoring trust. And in the very next breath, they attack conservatives as liars and obstructionists. Apparently, they didn’t learn everything they need to know in kindergarten.
Wasserman-Schultz never missed a chance to demonize Republicans and the Tea Party, her central reason for existence it appears. Krugman called Jeb Bush a liar and dolt and condemned anyone embracing Reaganomics. Without missing a beat, both of these people also called for a new civility and real debate! Beholding this display of dysfunction only served to buttress Will’s point: an intractable Left prefers demonization, which accounts largely for the gridlock. Promoting failure is successful for them, so why change?
However, it appears the Poser in the White House is beginning to employ a little of Reagan’s wisdom reaching out to the other side of the aisle, a “hopeful” sign say some Republicans. It won’t work. You cannot make a dove from a strutting peacock.
Recently, we have seen the Poser attack Republicans for sequestration cuts he created, close the White House to public visitation, and claim those cuts prevent the people access to The People’s House. We have seen him play other games to make the ‘pain’ as severe as possible, such as suspending all college programs for military personnel and threatening massive layoffs, resulting in reduced security. Fear and demonization are and will remain the centerpiece of the Poser’s attitude.
But to appear like a real leader, the Poser then took Senators to dinner in a phony show of willing conciliation. Have we forgotten this man has hammered conservatives most of his adult life, most intensely in the last four years? In one night, we are supposed to forget years of double-dealing, underhanded maneuvers, accusations, and vicious denunciations?
To their credit, conservatives appear willing to attempt, once again, to work with this Alinsky organizer, whose motto is ‘isolate and ridicule.’ However, they should be reminded of Reagan’s advice when dealing with a lawless adversary: “trust, but verify.” It might also be prudent to look into drone countermeasures.
Photo credit: Jessie Owen (Creative Commons)
By Kevin Spak 
Source: FULL ARTICLE at Newser – Home
By The Huffington Post News Editors
European leaders are essentially inviting their fellow countrymen to make a run on the banks, according to Paul Krugman.
The Nobel Prize-winning economist and New York Times columnist wrote in a blog post Sunday that the proposed bailout of the Cyprus banking system, which requires a tax on bank deposits, will push other Europeans to run to their banks in a panicked race to withdraw their money out of fear they’ll face a similar tax.
The Cyprus bailout is the first time European leaders have required depositors share the burden of rescuing a crisis-plagued European nation, which could open the door to including the requirement for bailouts of bigger countries like Spain, Italy or Greece.
BOSTON, March 11 (UPI) — News outlets including Boston.com and Breitbart.com were duped by a satirical website into reporting economist Paul Krugman had filed for bankruptcy.
Watching the round table discussion on ABC Sunday mornings is instructive. George Will always provides unique insight couched in history. He made the essential point this morning that the two political parties are so far apart; any compromise on financial issues appears unlikely. Along with Sen. Johnson this morning, Will’s input was routinely constructive, oriented to problem-solving, never going so low as to employ personal attack.
Others, like Rep. Wasserman Schultz and Paul Krugman, agreed with Will: there is a tremendous trust deficit responsible for gridlock.
Conservatives in the legislature do not trust this President, and for good reason. It is very difficult, if impossible, to work with someone who is smiles reassuringly in private, then eviscerates in public.
I find it amusing people like Wasserman Schultz and Krugman decry distrust and gridlock. They call for restoring trust. And in the very next breath, attack conservatives as liars and obstructionists. Apparently they didn’t learn everything they need to know in kindergarten.
Wasserman never missed a chance this morning to demonize Republicans and the Tea Party, her central reason for existence it appears. Krugman called Jeb Bush a liar and dolt and condemned anyone embracing Reaganomics. Without missing a beat both of these people also called for a new civility and real debate! Beholding this display of dysfunction only served to buttress Will’s point: an intractable Left prefers demonization which accounts largely for the gridlock. Promoting failure is successful for them, so why change?
However, it appears the Poser in the White House is beginning to employ a little of Reagan’s wisdom reaching out to the other side of the aisle, a “hopeful” sign say some Republicans. It won’t work. You cannot make a dove from a strutting peacock.
Recently we have seen the Poser attack Republicans for sequestration cuts he created, close the White House to public visitation, claiming those cuts prevent the people access to The People’s House. We have seen him play other games to make the ‘pain’ as severe as possible, such as suspend all college programs for military personnel and threaten massive layoffs resulting in reduced security. Fear and demonization are and will remain the centerpiece of the Poser’s attitude.
But to appear like a real leader, the Poser then took Senators to dinner in a phony show of willing conciliation. Have we forgotten this man has hammered conservatives most of his adult life, most intensely in the last four years? In one night we are supposed to forget years of double-dealing, underhanded maneuvers, accusations and vicious denunciations?
To their credit conservatives appear willing to attempt, once again, to work with this Alinsky organizer, whose motto is ‘isolate and ridicule.’ However, they should be reminded of Reagan’s advice when dealing with a lawless adversary: “trust, but verify.” It might also be prudent to look into drone counter measures.
By The Huffington Post News Editors
The American workplace is still pretty sexist, according to Paul Krugman.
The Pulitzer Prize-winning economist and New York Times columnist said that the debate over over Facebook COO Sheryl Sandberg’s highly-anticipated book “Lean In,” indicates that our country is woefully unready for women to treat women equally in the workplace.
Sandberg’s book, which comes out Monday, has sparked intense discussion over the best way for women to achieve professional success. Sandberg argues that some women step back from their professional responsibilities — derailing their ambitions — early in their careers in anticipation of having a family. Some have criticized Sandberg’s approach, saying it only considers the needs of upper middle-class working women.
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