tag:blogger.com,1999:blog-5452025352696285200.post7482667971498111724..comments2024-02-23T04:59:26.907-05:00Comments on But I Did Everything Right!: The Third DepressionAngelhttp://www.blogger.com/profile/07820446523257638689noreply@blogger.comBlogger13125tag:blogger.com,1999:blog-5452025352696285200.post-47108418732545795452011-05-13T15:29:28.983-04:002011-05-13T15:29:28.983-04:00First of all, Paul Krugman is a total imbecile. I...First of all, Paul Krugman is a total imbecile. If he's so smart why isn't he rich (I mean rich on the basis of his knowledge of economics, business, and the markets)? If Bernanke's so smart, why isn't he rich? Do you see a pattern developing here?<br /><br />Others have mentioned this, but how does LOWERING interest rates cause more people to save? Are you totally brain dead? Do you save more when you can get 20% in the bank or 0.5%? If you can't answer that then you must have flunked the second grade.<br /><br />If the world had let the banksters go out of business...well, we may not be out of the woods yet, but at least we'd only have a $6 trillion national debt instead of a $15 trillion national debt.<br /><br />Please stop getting brainwashed by the New York Times and use your own f*cking head for once. And if you have any integrity you will not block this message from posting.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5452025352696285200.post-82449873132354600522010-07-01T16:41:04.932-04:002010-07-01T16:41:04.932-04:00Krugman is a hack.
http://mjperry.blogspot.com/2...Krugman is a hack. <br /><br />http://mjperry.blogspot.com/2010/03/krugmans-universe-as-bitter-partisan.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5452025352696285200.post-10368941468441161762010-07-01T13:40:02.567-04:002010-07-01T13:40:02.567-04:00I guess I don't get it. If anyone wants to ema...I guess I don't get it. If anyone wants to email me a lesson in deflation, I would appreciate it, but Krugman's article led me to write what I wrote... I guess I am not destined for finance.Angelhttps://www.blogger.com/profile/07820446523257638689noreply@blogger.comtag:blogger.com,1999:blog-5452025352696285200.post-77432585313738785182010-07-01T13:16:26.402-04:002010-07-01T13:16:26.402-04:00Lower interest rates to increase savings? Umm, pe...Lower interest rates to increase savings? Umm, perhaps neither you nor the inimitable dwarf Krugman sees that savings rates are skyrocketing in the U.S. (from negative to over 5%, soon to be 10%) without a concomitant increase in the interest rate. Moreover, if we are not worried about inflation why would we ever advocate increasing the fed funds rate? That just doesn't make any sense.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5452025352696285200.post-43658629645263099282010-07-01T12:31:49.048-04:002010-07-01T12:31:49.048-04:00Real wages have gone down for working class Americ...Real wages have gone down for working class Americans over the last 35 years. Personal savings rates are ridiculously low. Consumer debt/credit cards really propped up the U.S. economy for so many years. More jobs than ever are outsourced and subject to offshoring. <br /><br />And yet, the cost of a college education keeps skyrocketing. People still believe that they can - and will - improve their station in life by taking on SERIOUS six-figure debt, in the pursuit of more academic credentials. We are dicked.Nandohttps://www.blogger.com/profile/06423524039657355134noreply@blogger.comtag:blogger.com,1999:blog-5452025352696285200.post-73851810280309975622010-06-30T22:15:54.131-04:002010-06-30T22:15:54.131-04:00Friendly advice from a loyal reader:
If you are c...Friendly advice from a loyal reader:<br /><br />If you are concerned with deflation, you should be in favor of low rates to counter the threat of it.<br /><br />-a finance guy.<br /><br />Otherwise, good stuff.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5452025352696285200.post-81165796024618081922010-06-30T20:59:48.948-04:002010-06-30T20:59:48.948-04:00We have a recession every 5-7 years and a Depressi...We have a recession every 5-7 years and a Depression every 40 years. We are so right on schedule, seeing the last one was 1970s.<br /><br />Obviously the financial system is seriously screwed up that it has these flaws.<br /><br />The bottom is about to fall out. The fed has stopped printing money and the bailouts are pretty much used up. The Census is about finished and the layoffs are beginning for Census work. Unemployment benefits have run out for a lot of people. Student loan deferments are running out for people. The market is right around the Oct. 2009 lows.<br /><br />We are going to officially enter crisis mode in about a week or two, which is amazing because I have read articles back in 2008 and some even before that specifically point to July 2010. I believe that the system flaws are predictable and those that have predicted failure have done so as a result of these trends.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5452025352696285200.post-31357878103673893902010-06-30T17:38:20.922-04:002010-06-30T17:38:20.922-04:00I'm a little confused.
While I'm not much...I'm a little confused.<br /><br />While I'm not much of a finance guy, if you (Angel) are concerned about deflation as opposed to inflation, shouldn't you *agree* with low rates?<br /><br />In general, this is what I remember:<br />- low rates increases spending or maintains spending, which creates inflation.<br />- high rates increase savings, decrease spending, and creates deflation.<br /><br />I'm pretty sure about this.<br /><br />As for me, I'm in the "prefers inflation" boat. So I'm also in the "keep rates low" boat.<br /><br />Though, of course, I'm also worried about jobs, and it'll be rough to have to buy a loaf of bread for 20 bucks when you have a low-paying job (or no job at all).Archangelnoreply@blogger.comtag:blogger.com,1999:blog-5452025352696285200.post-17272163652485265272010-06-30T16:47:39.457-04:002010-06-30T16:47:39.457-04:00No the economic problems of the US stem from the a...No the economic problems of the US stem from the american mindset: 'f*uck-you, I got mine so everyone else go scratch.'Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5452025352696285200.post-61524298123658846042010-06-30T16:00:45.127-04:002010-06-30T16:00:45.127-04:00The economic problems of the US, and the world, st...The economic problems of the US, and the world, stem from the greed of the political class.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5452025352696285200.post-48874471544911836692010-06-30T12:33:12.363-04:002010-06-30T12:33:12.363-04:00It's funny that Krugman wants us to take the l...It's funny that Krugman wants us to take the long view on deficits, but immediately touts the short view on bonds spreads for austerity. Why don't we check out the long view on both?<br /><br />In fact, we don't need to wait for the long view on Krugman's suggestion, because Japan has been doing it for twenty years, to no avail. Japan's national debt now exceeds 200% of GDP. The only reasons it hasn't collapsed like Greece is that it can print its own money, and the Japanese savings rate is still famously high. But now even that savings rate may not save them any longer.<br /><br /><i>Once again, I call on King Clinton to save us from the our deficit.</i><br /><br />What, can he create another tech bubble?Free in 2028http://www.thebeatlesneverbrokeup.comnoreply@blogger.comtag:blogger.com,1999:blog-5452025352696285200.post-59993890540144344522010-06-30T11:59:10.555-04:002010-06-30T11:59:10.555-04:00All the positive economic news rings hollow; this ...All the positive economic news rings hollow; this Krugman piece didn't surprise me much. Less respected economists have been saying this for a while. I don't know what to advise- I guess do something to earn some money, try to diversify your income, grow your own food, buy some commodities, and hope hyperinflation absolves us of our sins.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5452025352696285200.post-9331886646498606552010-06-30T11:32:56.374-04:002010-06-30T11:32:56.374-04:00I was also struck by this article. I'm sure pe...I was also struck by this article. I'm sure people will come out of the woodwork to totally disagree, but arguments that we're not looking at a completely devastated economy for the long-term seem hollow. <br /><br />Couple this with the Georgetown report that the job market won't show signs of life until 2015, and all of the already horrible news on the legal front, and it's amazing that anyone still wants to take on six figures of inescapable debt.Scammed Hard!https://www.blogger.com/profile/01044898077026675015noreply@blogger.com