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Old 04-24-2013, 07:15 PM   #1
SeanL
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Default The Economic Argument Is Over — Paul Krugman Has Won

http://www.businessinsider.com/paul-...s-right-2013-4
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Old 04-25-2013, 08:55 AM   #2
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that was a terrible article!

every single econonomist (including Krugman) would agree that debt accumualtion is bad for long term growth. THe only thing that emerged last week was debate about whether or not there is a a sharp inflection point on HOW BAD debt is at teh 90% threshold. apparently there isnt... the "debt is bad" line still has an upward slope (more debt is bad) it just doesn't suddenly get a lot steeper at 90%.

what krugman and others argued is that in times of economic crisis the adverse effects of debt are secondary to the more pressing adverse affects of the recession itself .... and also that a governmetn in free fall accumualtes debt no matter how austere they try to be, as teh economy crashes.... so your choice in 2008 really was... accumulate debt to try to soften the recession, or let the recession crash the economy AND THEN accumlulate alot of debt AFTER the economy is in ashes.
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Old 04-25-2013, 09:33 AM   #3
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As sluggo stated.

http://www.washingtonpost.com/opinio...70e_story.html
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Old 04-25-2013, 09:36 AM   #4
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Quote:
Originally Posted by dude1394 View Post
Krugman addresses this:
http://krugman.blogs.nytimes.com/201...97DE8B647DD8EA
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Old 05-23-2013, 12:37 PM   #5
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Claiming "Krugman won" is stupidity from the lefty cheerleaders. Monetarists and the Austrians agreed with the need for govt. backstopping decades ago. The question hasn't been if but how for 40 years.

Go tell the pseudo-Austrians how Frederick Hayek said govt. support was necessary and that deflation has no economic purpose, and watch their sad little hearts explode.
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Old 05-23-2013, 12:39 PM   #6
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Quote:
Originally Posted by mcsluggo View Post

what krugman and others argued is that in times of economic crisis the adverse effects of debt are secondary to the more pressing adverse affects of the recession itself .... and also that a governmetn in free fall accumualtes debt no matter how austere they try to be, as teh economy crashes.... so your choice in 2008 really was... accumulate debt to try to soften the recession, or let the recession crash the economy AND THEN accumlulate alot of debt AFTER the economy is in ashes.
Or simply in real terms as deflation causes the debt to double, then quadruble, then go to Weimar War Reparation levels, then go to infinity.
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