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Angry Paul Krugman Is All Like, "Yeah, Whatever, THAT'S Cool"
"So wise policy, as defined by the G20 and like-minded others, consists of destroying economic recovery in order to satisfy hypothetical irrational demands from the markets – demands that economies suffer pointless pain to show their determination, demands that markets aren't actually making, but which serious people, in their wisdom, believe that the markets will make one of these days.
Awesome."
-I don't think Paul Krugman believes it's awesome at all that the deficit hawks of the G20 are calling for austerity measures while battered economies actually require further stimulus if they want to get moving again. In fact, I think he's kind of pissed about it.
Glad to hear he finally took my advice.
ETA til Krugman writes a column consisting entirely of courage wolf macros?
I feel he is more of a bachelor frog kind of dude.
@Matt
You take that back!! He's a doll!
Paul Krugman should stick to cameos in movies extolling the benefits of smoking a jeffery at this point…Keynesian economics is in it's death throes. Speaking of which, doesn't Lee Dewyze look like an emaciated Jonah Hill?
"So wise policy, as defined by the G20 and like-minded others, consists of destroying economic recovery in order to satisfy hypothetical irrational demands from the markets – demands that economies suffer pointless pain to show their determination, demands that markets aren't actually making, but which serious people, in their wisdom, believe that the markets will make one of these days.
Fucking StripeShirts."
Milt Keynes once said, "Markets can stay irrational for longer than you can stay sober." I'll never forget it. We were sitting at a bar on the Upper East Side called Phoenix Park watching France and Switzerland play a scoreless match in the 2006 FIFA World Cup when Keynes made this ridiculous remark. Might have been around the 15th minute or so.
I pounded my fist on the bar. "You ignorant bastard," I said. "I can maintain a steely sobriety when money's on the line."
We each gave the bartender a hundred dollar bill and took turns drinking pints of Guinness interrupted by small shots of Tullamore Dew. The next thing I remember is waking up on the marina in New Rochelle. Turns out that son of a bitch Keynes was right. Needless to say, I'm watching the World Cup from a different pub this year. Bastard.
Thus died the myth that you can't communicate sarcasm in print.
Or maybe, Krugman, the austerity measures are the result of political pressure from the citizens of various European countries who have the good fucking sense (that we American sheep lack) to know that printing money and bailing out countries is really just a means to pass the money back to the banks in order to ensure that they not lose one fucking cent on their stupid loans, and therefore, not a good fiscal policy.
It must be tedious, week after week, to have to say "Di the math." But not half so tedious as it is to realize that nobody in power has even sharpened his pencil.
I think he's trying to get around to the fact that Actual Working People will never
get ahead anymore just based on work;
that the very rich are very rich because they already are rich,
because of our lowly work, and that 'austerity measures' in countries full of poor or unemployed people (who are already austere!)
well… what is an Austerity Measure to someone who hasn't worked in 6 months?
It is only going to result in everything being burned down, everywhere.
"Austerity Measures" is so vague, but I think it means 'stop providing any kind of social safety net' which might prove risky unless you have really
strong security forces. Or, food riots, etc.
Better have a water hose on you roof, then.
That "Zeitgeist" dvd explained a lot. Unless it's BS… is it, or not?
We're supposed to trust the IMF and they cant even produce a round pie chart? A pie chart is supposed to be a circle, not a hexagon(It isn't even a hexagon but I dont know the names of any higher sided shapes)