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News Link • Economy - Economics USA

Signs of The Apocalypse: Paul Krugman Thinks We Are In A Depression

• NYtimes.com/
 
We are now, I fear, in the early stages of a third depression. It will probably look more like the Long Depression than the much more severe Great Depression. But the cost — to the world economy and, above all, to the millions of lives blighted by the absence of jobs — will nonetheless be immense. And this third depression will be primarily a failure of policy. Around the world — most recently at last weekend’s deeply discouraging G-20 meeting — governments are obsessing about inflation when the real threat is deflation, preaching the need for belt-tightening when the real problem is inadequate spending.

9 Comments in Response to

Comment by Concerned Patriot
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Whats with the effing language here shit i mean come on effing shit there effing shit here why must you all say such things?

Comment by Found Zero
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Besides, what's to be in a bad mood about? We're only in the midst of a life and death struggle against a trans-generational enemy of almost unlimited power and now in the middle of the largest man-made disaster in human history that will probably destroy the lives of millions. Just do what I do: pop a beer and put on the headphones. We should have time for at least a 12-pack before black oil starts washing up on the shores of the Colorado river.

Comment by Found Zero
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Well as YOUR attorney I advise you not to advise me. I'm a tough effing customer.

Comment by Jet Lacey
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Oyate - My response was directed at you how? 

As your attorney, I advise you not to eff with me today; I'm in a shitty mood.

Comment by Found Zero
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Jet, why should I read Krugman when I can recite him? How is your reduction is substantially different than mine? Or does "quantitative easing" mean something more than throwing money at the rich, running up deficits and billing it all to taxpayers?

Ah yes, it also now means avoiding "austerity" and continuing unfunded entitlements. Well, more of the same AFAIC. It's all just pulling forward demand that's no longer sustainable by the real economy.

Still haven't read the article. No reason to. Krugman is more predictable than a calendar.

Comment by Anonymous
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 Does it make any sense at all for Obama to keep adding to the national debt in order to suppoort illegal immigrants and jobs programs that discriminate against white males? He is too simple to understand that tax cuts  for small businesses will boost the economy since small businesses do most of the hiring. He should have stayed as a community organizer back in the slums of Chicago where he may have been capable of handling such huge responsibitities. He simply does not have the capacity to be our president. He is incompetent as needs to look elsewhere besides catering to minorities and illegal immigrants at the expense of true Americans to push his racist liberal aganda. He should cut all benefits to illegal's and save us a huge bundle and allow Americans to take their jobs back.

Comment by Jet Lacey
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If you really read this article instead of relying on the headline itself, which I'm fairly certain didn't happen before this article was posted to Freedom's Phoenix, Krugman is saying that if we don't fire up the printing presses and create more "Quantitative Easing" (read: Keynesian intervention) we will go into a 19th century-esque deflationary depression, which that is exactly what the government, their Keynesian minions, and the New World Order absolutely cannot tolerate.

They cannot allow a deflationary depression, and they won't because it would help you and hurt them.


  

Comment by Found Zero
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Yeah let me guess, I'm not gonna read. Krugman will make the point that we're in a deflationary credit crisis not because of deficits and stimulus spending but because of NOT ENOUGH OF SAME. Pretty soon he'll be talking about currency inflation due to lack of printing too much money.

Comment by Sharon Jarvis
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Krugman is finally saying what the rest of us know: this is a depression.  Real unemployment is probably 20%.  You also have lots of people without a steady income because the new normal is to be hired as as "independent contractor" without benefits.

 The last recessions had jobless recoveries, so if you do the math, there is no way the growing population will ever find jobs.  Congress still does nothing to stop corporations from leaving; a vote to stop giving tax breaks to companies (that leave the U.S. or outsource) failed!  I guess the average American just can't match the bribe money Congress gets from some CEO.


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