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  1. SiriuslyLong is offline
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    Joined: Jan 2009 Location: Ann Arbor, MI Posts: 3,560
    06-07-2012, 04:22 PM #1

    Romney calls Obama’s handling of the economy ‘a moral failure of tragic proportions’

    "There is nothing fair about a government that favors political connections over honest competition and takes away your right to earn your own success," Romney said. "And there is nothing morally right about trying to turn government dependence into a substitute for the dignity of work."

    Good to see someone talking like this. Maybe he has a chance.

  2. Havakasha is offline
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    06-07-2012, 05:25 PM #2

    Fareed Zakaria
    Romney is wrong on tax cuts

    By Fareed Zakaria, Updated: Thursday, June 7, 12:01 PM

    The Obama campaign’s attack ad about Bain Capital presented a simplistic picture of a complicated reality. Private-equity firms can play a crucial role in keeping companies competitive. And although some firms have engaged in some bad practices, on the whole the industry has grown so large because it performs a useful function. But the worst part about the ad was that it had little to do with America’s challenges or Obama’s policies.

    By contrast, Mitt Romney’s first major ad is substantive — and wrong. He tells us that on his first day in office — after approving the Keystone XL pipeline — he will “introduce tax cuts . . . that reward job creators not punish them.” The one idea that is almost certain not to jump-start this economy is a tax cut.

  3. SiriuslyLong is offline
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    06-07-2012, 05:49 PM #3
    When are you going to post the articles on Stiglitz (Krugman's best friend lol)? I wonder if Stiglitz wants to control the galactic universe?

  4. Havakasha is offline
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    06-07-2012, 06:07 PM #4

    Joseph Stiglitz: Romney's Plan Will 'Increase Likelihood Of A Recession'
    The Huffington Post | By Harry Bradford
    Posted: 06/05/2012 1:19 pm Updated: 06/05/2012 1:19 pm

    With the presidential election just months away, one Nobel Prize-winning economist seems to have made up his mind.

    Left-leaning economist and Columbia professor Joseph Stiglitz told Bloomberg Monday that Republican presidential candidate Mitt Romney’s plan to slash government spending would send the economy into a downward spiral.

    “The Romney plan is going to slow down the economy, worsen the jobs deficit and significantly increase the likelihood of a recession,” Stiglitz told Bloomberg.

    He went on to say that President Obama "recognizes the need to stimulate the economy” and sees income inequality as a “significant problem,” while Romney does not.

    During other stops on the promotional tour for his new book, “The Price of Inequality: How Today’s Divided Society Endangers Our Future,” Stiglitz touched on income inequality, CEO pay and other economic issues, but was particularly critical of austerity measures that cut government spending while raising taxes.

    “No large economy has ever recovered from recession through austerity,” Stiglitz warned during an interview Bloomberg reporter Betty Liu.

    A number of recent studies lend support to this view. Both the IMF and United Nations released studies last September that found austerity can have negative effects on the economy. The IMF reported that austerity hurts incomes and worsens long-term unemployment, while a United Nations study warned that nations' continued pursuit of austerity could result in a “permanent recession.” More recently, the International Labor Organization found that worldwide "austerity has not produced more economic growth."

    Stiglitz’s criticism of austerity is also shared by fellow progressive economists Robert Reich and Paul Krugman, among others. Krugman wrote in a New York Times column last October that austerity both in the U.S. and Europe had been an “abject failure.”

  5. SiriuslyLong is offline
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    06-07-2012, 06:35 PM #6
    Krugman Anti-Austerity Jab Irks Budget Champ Estonia

    Estonian President Toomas Ilves lashed out at Nobel laureate economist Paul Krugman for questioning the Baltic nation’s economic recovery as an austerity success story.

    Estonia’s recovery from a “depression-level” economic slump in 2008-2009 has been a “significant but still incomplete recovery,” Krugman wrote in his New York Times blog yesterday. “Better than no recovery at all, obviously -- but this is what passes for economic triumph?”

    The Baltic nations of Estonia, Latvia and Lithuania, suffered the world’s biggest recessions after the collapse of Lehman Brothers Holdings Inc. in 2008 burst a debt-fueled property bubble, shut off credit flows and curbed export demand. The three countries reduced spending and raised taxes by as much as 15 percent of their gross domestic products in 2009-2010. Estonia was the only country in the euro area to report budget surpluses for the last two years.

    “Let’s write about something we know nothing about and be smug, overbearing and patronizing,” Ilves, a graduate of Columbia University, wrote late yesterday on his Twitter Inc. account. “But yes, what do we know? We’re just dumb and silly East Europeans. Unenlightened. Someday we too will understand. Nostra culpa.”

    ‘Sincere’ Defense

    He confirmed his comments in an e-mail, adding “it was a sincere and immediate defense of the major and often difficult efforts of Estonia to deal with the economic crisis and to stick to the rules adopted in the European Union.”

    Austerity measures helped Estonia improve its budget balance by more than 10 percent of gross domestic product, adopt the euro last January and cut government debt to 6 percent of economic output, the lowest among the 17 countries that use the currency.

    The $19 billion economy grew 7.6 percent last year, the fastest pace in the EU. GDP, adjusted for inflation, may return to pre-crisis levels in 2014, the central bank said in December.

    The Baltic nations “managed to do what no-one thought was possible -- implement internal devaluations, which in practice meant salary cuts for everyone in the country,” Peter Elam Hakansson, chairman of Stockholm-based East Capital, wrote in a monthly newsletter, e-mailed today.

    Amazing how someone so far away can correctly peg Krugman - SMUG, OVERBEARING, and PATRONIZING. You know what they say, like attracts like LMFAO. The liberal elite...................... They know better than everyone else...........

  6. SiriuslyLong is offline
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    06-07-2012, 06:39 PM #7
    Here's a google search of "Krugman" and "Enron"

    The prick took $50,000 from them and talked them up. Hypocrite. Read them all and learn about this jackass, and by extension, those who "follow" his every word.

  7. Havakasha is offline
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    06-07-2012, 11:52 PM #8
    Reagan Was a Keynesian
    Published: June 7, 2012

    There’s no question that America’s recovery from the financial crisis has been disappointing. In fact, I’ve been arguing that the era since 2007 is best viewed as a “depression,” an extended period of economic weakness and high unemployment that, like the Great Depression of the 1930s, persists despite episodes during which the economy grows. And Republicans are, of course, trying — with considerable success — to turn this dismal state of affairs to their political advantage.

    They love, in particular, to contrast President Obama’s record with that of Ronald Reagan, who, by this point in his presidency, was indeed presiding over a strong economic recovery. You might think that the more relevant comparison is with George W. Bush, who, at this stage of his administration, was — unlike Mr. Obama — still presiding over a large loss in private-sector jobs. And, as I’ll explain shortly, the economic slump Reagan faced was very different from our current depression, and much easier to deal with. Still, the Reagan-Obama comparison is revealing in some ways. So let’s look at that comparison, shall we?

    Keep on reading.

  8. Havakasha is offline
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    06-08-2012, 12:02 AM #9
    I kinda agree with this guy. lol

    7 hours ago ( 4:38 PM)
    okay right wingnuts. all the president of estonia did is make a fool of himself. have you ever heard of a world leader ever, taking to twitter to give an obscenity laced attack against someone? its ridiculous to say the least. what is this guy a kardahian? he's supposed to be the leader of a country, and deport himself with a modicum of self respect. and did you read the article. it's like 65 words, and couldn't be taken as smug or insulting to anyone. read it. he simply said estonia really hasn't had a good recovery and had a graph which shows their gdp, which is lower than it was in 2007. i know facts are considered elitist insults to conservatives, but please this guy just deported himself like a buffoon.
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  9. Havakasha is offline
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    06-08-2012, 12:05 AM #10
    Paul Krugman blog.
    une 6, 2012, 11:19 AM
    Estonian Rhapsody
    "Since Estonia has suddenly become the poster child for austerity defenders — they’re on the euro and they’re booming! — I thought it might be useful to have a picture of what we’re talking about. Here’s real GDP, from Eurostat:
    So, a terrible — Depression-level — slump, followed by a significant but still incomplete recovery. Better than no recovery at all, obviously — but this is what passes for economic triumph?"

    Click on link to read graph:

    I dont see the reason for the hysterics from the Estonian President. His description of
    Krugman doesnt come close to being accurate about the statement Mr. krugman's made.
    Last edited by Havakasha; 06-08-2012 at 12:09 AM.

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