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View Diary: Krugman: "The Urge to Purge" (62 comments)

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  •  so the New Deal was a total failure (7+ / 0-)

    about par

    "We didn't set out to save the world; we set out to wonder how other people are doing and to reflect on how our actions affect other people's hearts." - Pema Chodron

    by teacherken on Fri Apr 05, 2013 at 06:49:47 AM PDT

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    •  Sixty million dead worldwide (1+ / 0-)
      Recommended by:

      Half the planet flattened before our economy finally got back into shape.

      No thanks.

      Besides, Krugman ignores the subtext here. Automation is increasing at a furious rate. Any attempt to raise worker salaries is going to be met with increased (successful) attempts to automate the workers away.

      Housing bubble: we have way too much housing stock and Boomers are downsizing. Real housing prices (especially in surburbs) are going to continue to fall.

      The top 1% of global workers make over $50k/year. Workers elsewhere want what we have, and we have neither the moral authority nor the actual power to tell them they can't have it.

      These, and other structural economic issues, are the real drivers here. They are hard to deal with, so Krugman advertises papering them over with more and more debt. That's how we got into this mess.

      (-5.50,-6.67): Left Libertarian
      Leadership doesn't mean taking a straw poll and then just throwing up your hands. -Jyrinx

      by Sparhawk on Fri Apr 05, 2013 at 07:00:13 AM PDT

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