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Only worthwhile statistics:
Saddam alive: economy bad
Saddam dead: economy good
Saddam alive: economy bad
Saddam dead: economy good
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We the people are the rightful masters of both Congress and the courts, not to overthrow the Constitution but to overthrow the men who pervert the Constitution. - Abraham Lincoln -
lol Ted, that's so funny!19th Century Liberal, 21st Century EuropeanComment
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Hey, when did Roland get elected to the St. Louis Fed Presidency??
In the case of the GSEs, the enormous scale of their liabilities could create a massive problem in the credit markets. If the market value of GSE debt were to fall sharply, because of ambiguity about the financial soundness of GSEs and about the willingness of the federal government to backstop the debt, what would happen? I do not know, and neither does anyone else.
It is a good overview, and has some good points, even though I think Poole's understanding of the mortgage business is much more limited than his propensity to give speeches about the topic.Be the bid!Comment
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Funny. I read this as "Let's get ready for the big GSE bailout, just in case..."“Now we declare… that the law-making power or the first and real effective source of law is the people or the body of citizens or the prevailing part of the people according to its election or its will expressed in general convention by vote, commanding or deciding that something be done or omitted in regard to human civil acts under penalty or temporal punishment….” (Marsilius of Padua, „Defensor Pacis“, AD 1324)Comment
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It is kinda silly to say "let's pull the GSE guarantee" because you know that if things went into the crapper, they would get bailed by the govy guarantee or no guarantee.Be the bid!Comment
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Yeah well, but he can't just say "let's make it official". That would be... dare I say it... honest.“Now we declare… that the law-making power or the first and real effective source of law is the people or the body of citizens or the prevailing part of the people according to its election or its will expressed in general convention by vote, commanding or deciding that something be done or omitted in regard to human civil acts under penalty or temporal punishment….” (Marsilius of Padua, „Defensor Pacis“, AD 1324)Comment
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Have you American guys been reading Krugman lately? I don't know how representative he is since he is my only conduit into American politics, but his critiques of the Bush administration seem ever more damning.Comment
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I don't know how representative he is
He writes for the New York Times. Generally, this means that he is in the 20-25% of the electorate that is hardest left.
If you ignored Krugman, you wouldn't have any less information about American politics, even if you agree with him.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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Yeah, I was aware of that. I don't have much interest in American politics, I just read Krugman because he has my respect as an economist. What I don't know is the positions taken on the issues Krugman discusses by less left-leaning commentators.
It's not just Krugman........many prominent academics like Auerbach and Gale are speaking out.......surely other more mainstream commentators have picked up on this.Comment
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Oh, I think they have picked up on it. But it's more like a battle royale. Heavies on both sides. Of course the academics would take a position. In a way, the debate wouldn't be worth it if it weren't a pack of tough questions.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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And Mankiw is a respected academic as well. Thoroughly nice bloke by all accounts, though I haven't met him personally. I hope he is still respected in 1 years time.
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You mean respected by the supply siders?
I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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Looks like the Wash Times has its head up its ass again.Old posters never die.
They j.u.s.t..f..a..d..e...a...w...a...y....Comment
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Hehe hilarious article. Of course Greg Mankiw, like all actual economists, knows how stupid supply-siders are. He also knows about the long term impact of large budget deficits.
I (along with many in the economics profession) am betting that he wont last that long, because he probably thinks he will get the chance to use his expertise to help matters, whereas in reality it seems quite probable that he has been hired to add credibility to inherently incredible policies.
But we shall see.Comment
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Looks like the Wash Times has its head up its ass again.
Did it ever not?
Spike: What do you believe are the inherently incredible policies?I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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