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Paul Krugman
  • Paul Krugman: The End is Nigh!

    Paul Krugman paints a cheery picture of post-election landscape

    Not very, say some pundits. After all, the last time Republicans controlled Congress while a Democrat lived in the White House was the period from the beginning of 1995 to the end of 2000. And people remember that era as a good time, a time of rapid job creation and responsible budgets. Can we hope for a similar experience now?

    No, we can't. This is going to be terrible. In fact, future historians will probably look back at the 2010 election as a catastrophe for America, one that condemned the nation to years of political chaos and economic weakness.

    And, lo, the sun will grow black as sackcloth of hair, and the moon as blood; and the stars of heaven will fall unto the earth, even as a congressman casteth his aides, when that aide is caught snorting blow off a hooker's penis in a U Street bathroom. Ye verily, there shall be much wailing and gnashing of teeth, and very little buying of 42-inch internet-enabled flat screen televisions to mount upon thy wreck room wall! Or something like that.

    Don't get me wrong, I'm not looking forward to whatever the fuck kind of brain-splitting nonsense is going to happen after the GOP overtakes Congress. But, let's be real here. If the only thing that was keeping the United States from tipping into an decades-long abyss of economic ruin was one ineffectual party holding its slim majority over another, more obstructionist, party in one midterm election, then that was definitely an Apocalypse Eventually-type situation from the start.

    Which maybe it is. I don't know; what do I know? I get paid to write posts with the tag "Barack Obama's Penis." I'm not really an expert here. But I do know that Democrats weren't likely to hold their majority forever.

    Tags: Democrats, Economy, Midterms, Paul Krugman, Republicans
  • Paul Krugman's Advice for Dealing with Joe Lieberman

    From Krugman's op-ed in the New York Times on the 17th…

    "A message to progressives: By all means, hang Senator Joe Lieberman…"

    You know, I was thinking the exact same thing. What we need is a long length of tightly woven–

    "…in effigy."

    Um, yeah. That's what I meant. In effigy. Of course, I meant in effigy. What do you think I am, some sort of crazy reactionary? I mean, you'd have to be an idiot to think that Krugman was actually advocating stringing up and killing a sitting U.S. senator.

    I mean, nobody actually thought that, right?

    Management wants me to make it clear that in my last column I wasn't endorsing inappropriate threats against Mr. Lieberman.

    Well, the people who work for New York Times, obviously. I meant nobody wasn't demonstrably idiotic.

    (via Andrew Sullivan)

    Tags: Health Care, Joe Lieberman, New York Times, Paul Krugman, Senate
  • Paul Krugman: Things Are Getting Worse More Slowly

    On last night's Colbert Report, Nobel Prize-winner Paul Krugman stopped by to shoot some economic sunshine up our asses. That's right, Krugman says the economy is getting worse slower. Hooray! We were getting punched in the nuts, but now we're only getting kicked in the face. I can almost smell a waft of returned prosperity permeating the stench of this trashcan fire.

    The Colbert Report airs Monday through Thursday at 11:30pm / 10:30c.

    Tags: Barack Obama, Economy, Paul Krugman, Stephen Colbert, Stimulus, The Colbert Report, Video
  • Why Didn't Ronald Reagan Consult Paul Krugman Before Destroying the Economy?

    Don't blame the messengerThe other day professional grump Paul Krugman posted a new version of an old economics meme on his blog, the New York Times. His thesis: Ronald Reagan, aka The Greatest President Ever, actually caused our current econopocalypse:

    There’s plenty of blame to go around these days. But the prime villains behind the mess we’re in were Reagan and his circle of advisers — men who forgot the lessons of America’s last great financial crisis, and condemned the rest of us to repeat it.

    Now, of course, this outrageous blasphemy is drawing fire from the patriots at the National Review

    [Krugman's] argument hangs on an obscure piece of legislation called the Garn-St. Germain Depository Institutions Act. In Krugman's imagination, this bill is the key to understanding "the mess we're in."

    As he usually does when he is shading the truth, Krugman argues via assertion and the repetition of assertion ("the bill turned the modest-sized troubles of savings-and-loan institutions into an utter catastrophe" … "The immediate effect of Garn-St. Germain, as I said, was to turn the thrifts from a problem into a catastrophe," etc.). He throws out lines that beg for substantiation and follows them with non-sequitors.

    In other words, "boo." (Also, Paul Krugman gets a D for composition.)

    Literary quibbles aside, Krugman shows no sign of backing away from his argument that President Reagan and his villainous economic advisers wilfully destroyed the American economy because, whatever, it was the '80s and everyone was high. Grody to the max! If only Paul Krugman could travel back in time, to 1982, and set Reagan straight with some real economic advice.

    Oh yes, that's right. He already did.

    Tags: Economy, National Review, Paul Krugman, Ronald Reagan
  • The Blog Hole: Dick Morris, Krugman and Broke Is The New Bling

    Obama Hurts Capitalism's Feelings Clinton turncoat turned Fox News muppet Dick Morris explains why Wall Street won't be returning Obama's late-night booty calls, because Mr. President has been talking trash. []

    The Democratic Party Is The Party Of Cat Herds  Basically, the Republicans are disciplined Stormtroopers, and the Democrats are a dance party of manic-depressive drama queens, or at least, that's one interpretation of Ronald Brownstein's essay.  []

    The Markets Are Less Gandalf, More Gollum  Sometimes New York Times columnist Paul Krugman gets into a heated debate at a cocktail party, and to win he just goes "Oh, where's your Nobel Prize?" Krugman takes apart faith in magical markets today, and he sounds right?  []

    America Is Better Off With Great Taste, Less Filling  Robert Frank isn't going to miss America in 2007, and neither should you. It was a greedy time of champagne magnums and credit card spending orgies. We're better off as hobos. []

    Tags: Democrats, Dick Morris, Paul Krugman