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Paul Krugman | The Austerity Debacle

  • The austerity doctrine that has dominated elite policy discussion both in Europe and, to a large extent, in the United States for the past two years is a stunning failure of policy.
  • Paul Krugman | Nobody Understands Debt
  • World economy set for another major downturn

Paul Krugman, New York (NY) Times

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Last week (Jan 22-28) the National Institute of Economic and Social Research, a British think tank, released a startling chart comparing the current slump with past recessions and recoveries. It turns out that by one important measure — changes in real G.D.P. since the recession began — Britain is doing worse this time than it did during the Great Depression. Four years into the Depression, British G.D.P. had regained its previous peak; four years after the Great Recession began, Britain is nowhere close to regaining its lost ground.

Nor is Britain unique. Italy is also doing worse than it did in the 1930s — and with Spain clearly headed for a double-dip recession, that makes three of Europe’s big five economies members of the worse-than club. Yes, there are some caveats and complications. But this nonetheless represents a stunning failure of policy.

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Paul Krugman | Nobody Understands Debt,  Paul Krugman, New York (NY) Times

  • When people in D.C. talk about deficits and debt, by and large they have no idea what they're talking about - and the people who talk the most understand the least.
  • The economic “experts” on whom much of Congress relies have been repeatedly, utterly wrong about the short-run effects of budget deficits.
  • World economy set for another major downturn
  • All the GOP's Gekkos
     

World economy set for another major downturn, Nick Beams, World Socialist Website

  • Despite the trillions of dollars handed out to the banks and financial institutions over the past three years by governments around the world, nothing has been resolved.
  • Who Will Fix the Economy?
     
Section(s): 

Special Project | America's Financial Crisis: Week of January 29

6 New Items including:

  • Paul Krugman | Nobody Understands Debt
  • World economy set for another major downturn
  • Who Will Fix the Economy?
  • Remaking America: From Poverty to Prosperity
  • Remaking America: From Poverty to Prosperity
  • Paul Krugman | All the GOP's Gekkos

David Culver, Ed., Evergreene Digest

John Darkow

Paul Krugman | Nobody Understands Debt, Paul Krugman, New York Times

  • When people in D.C. talk about deficits and debt, by and large they have no idea what they're talking about - and the people who talk the most understand the least.
  • The economic “experts” on whom much of Congress relies have been repeatedly, utterly wrong about the short-run effects of budget deficits.
  • World economy set for another major downturn
  • All the GOP's Gekkos

World economy set for another major downturn, Nick Beams, World Socialist Website

  • Despite the trillions of dollars handed out to the banks and financial institutions over the past three years by governments around the world, nothing has been resolved.
  • Who Will Fix the Economy?

Who Will Fix the Economy? Henry Mintzberg, Nation of Change

  • On the ground, there are two kinds of enterprises: those that rely on exploration, and those that rely on exploitation. Every economy has both, but a healthy one favors the explorers. This fosters the sense of enterprise that made the United States such an economic powerhouse.
  • Confronting the Wealth Divide is the Key to Fixing the World Economy
  • Remaking America: From Poverty to Prosperity

Remaking America: From Poverty to Prosperity, Byron Williams, Huffington Post

  • Which direction the country is to go, what type of nation do we choose to be, and what kind of people do we choose to be.
  • The conversation will be broadcast live on C-SPAN Thursday January 12 and rebroadcast for three nights on Tavis Smiley on PBS beginning Monday, January 16.
  • Chris Hedges |  Brace Yourself!

Paul Krugman | All the GOP's Gekkos, Paul Krugman, New York (NY) Times

  • Almost a quarter of a century has passed since the release of the movie 'Wall Street,' and the film seems more relevant than ever. The self-righteous screeds of financial tycoons denouncing President Obama all read like variations on Gordon Gekko's famous 'greed is good' speech, while the complaints of Occupy Wall Street sound just like what Gekko declares at one point in private: "I create nothing. I own." At another, he asks his protege, "Now you're not naive enough to think we're living in a democracy, are you, buddy?"
  • How the GOP Tries to Transform America into a Selfish, Souless Place
     
Section(s): 

Special Report | #OccupyWallStreet / October2011, Week of January 29

  • Searching for Hope in America: An impassioned plea for the American people to wake up!
  • Stop the Machine! Create a New World!

4 New Items including:

  • The World War on Democracy
  • Thank You For Standing Up
  • Soros Predicts Growth of Occupy Movement, Applauds it for Changing the Political Debate
  • Occupy Wall St & the Future of the 100%

David Culver, Ed., Evergreene Digest

Milt Priggee

The World War on Democracy, John Pilger, Global Research

  • The historic corollary of a perpetual war state, this is not fascism, not yet, but neither is it democracy in any recognisable form, regardless of the placebo politics that will consume the news until November.
  • The circumscribed task of journalism on both sides of the Atlantic is to create the pretence of political choice where there is none.

Thank You For Standing Up, Chris Hedges, Truthdig
"Turn off your televisions. Ignore the Newt-Mitt-Rick-Barack reality show. It is as relevant to your life as the gossip on Jersey Shore. The real debate, the debate raised by the Occupy movement about inequality, corporate malfeasance, the destruction of the ecosystem, and the security and surveillance state, is the only debate that matters."

Soros Predicts Growth of Occupy Movement, Applauds it for Changing the Political Debate, John Arlidge, Newsweek / Kevin Zeese, October2011

  • George Soros on the Coming U.S. Class War
  • 'The situation is about as serious and difficult as I've experienced in my career.'

Occupy Wall St & the Future of the 100%, MN Senator John Marty, Apple Pie Alliance
Now, it is important to channel the passion of the occupation into the nitty-gritty of grassroots democracy. As the writer Scott Turow suggests, "Those in tents across the nation should start going door to door with petitions, visiting legislators and building alliances with good-government groups, all in service to a proposed (constitutional) amendment" to regulate campaign financing to prevent anyone from having unequal influence on elections through their wealth.



 

Paul Krugman | Nobody Understands Debt

  • When people in D.C. talk about deficits and debt, by and large they have no idea what they're talking about - and the people who talk the most understand the least.
  • The economic “experts” on whom much of Congress relies have been repeatedly, utterly wrong about the short-run effects of budget deficits.
  • World economy set for another major downturn
  • All the GOP's Gekkos

Paul Krugman, New York (NY) Times

In 2011, as in 2010, America was in a technical recovery but continued to suffer from disastrously high unemployment. And through most of 2011, as in 2010, almost all the conversation in Washington was about something else: the allegedly urgent issue of reducing the budget deficit.

This misplaced focus said a lot about our political culture, in particular about how disconnected Congress is from the suffering of ordinary Americans. But it also revealed something else: when people in D.C. talk about deficits and debt, by and large they have no idea what they’re talking about — and the people who talk the most understand the least.

More...

Related:

World economy set for another major downturn, Nick Beams, World Socialist Website

  • Despite the trillions of dollars handed out to the banks and financial institutions over the past three years by governments around the world, nothing has been resolved.
  • Who Will Fix the Economy?

Paul Krugman | All the GOP's Gekkos, Paul Krugman, New York (NY) Times

  • Almost a quarter of a century has passed since the release of the movie 'Wall Street,' and the film seems more relevant than ever. The self-righteous screeds of financial tycoons denouncing President Obama all read like variations on Gordon Gekko's famous 'greed is good' speech, while the complaints of Occupy Wall Street sound just like what Gekko declares at one point in private: "I create nothing. I own." At another, he asks his protege, "Now you're not naive enough to think we're living in a democracy, are you, buddy?"
  • How the GOP Tries to Transform America into a Selfish, Souless Place
     
Section(s): 

Pages