Comments on: Krugman wins Nobel Prize

By: kritt11

kritt11 — Tue, 14 Oct 2008 05:20:19 +0000

DLS

The peace prize usually goes to peace activists who ARE invariably lefties– who would you give it to?

And I think Krugman's views are his own– if he agrees with the Democrats on most issues- so what?

By: DLS

DLS — Mon, 13 Oct 2008 18:00:14 +0000

"DLS are you saying he has no right to take a political stand? I really don't see that he's any different than Thomas Friedman or Robert Rubin. If he was taking conservative positions would you be complaining?"

Krugman is different than Friedman or Rubin. He's more notorious than Thurow (in earlier years) or the late Eisner (who at least was honest _once_ when he said so much opposition in academia and elsewhere to a balanced budget for the federal government actually was, on the Left, an obvious policy stance regarding the size and scope of the federal government). He (Krugman) is more notorious for his party hack blatant behavior.

"I remember last year at this time many righties on this site and elswhere were begrudging the awarding of the Nobel to Gore because he's a liberal."

The Peace Prize is blatantly political and leftist, and in addition, Gore's environmental activism has nothing to do whatsoever with achieving peace (ending a war or successfully achieving conflict resolution).

* * *

I won't hope that J-Sat actually reads and understands what I have written, any time soon, now or in the past, such as when I've written that we didn't have loan-related problems promptly after the passage of the CRA but instead, that they happened after two rounds of de-regulation. A few on here, sadly, engage in pre-conclusions. [sigh]

* * *

Actually, industry ties are involved _currently_, and aren't limited to Paulson:

"The speech were Mr. Kashkari's first remarks since he was tapped by Mr. Paulson to head the $700 program. A 35-year-old former Goldman Sachs investment banker, he was chosen only last week to head the new so-called Office of Financial Stability."

http://online.wsj.com/article/SB122390023840728...

* * *

"gambling casino mentality"

Yes. More than that, a free lunch, so to speak. I was rushed last week but quoted briefly from a book I have (I have two written by the same author; this book was the second he wrote on related issues) about the stock and housing bubbles and how people were under the bubble-related "wealth illusion" and believed they were getting money for nothing. (The excessive optimism and illusion is a euphoric drug -- it goes beyond gambling, though obviously that metaphor is an accurate and very good one.)

By: RememberNovember

RememberNovember — Mon, 13 Oct 2008 15:57:31 +0000

RIM is essentially a government owned company- when RIM's Blackberry servers went balls up who panicked the most? When RIM was getting threatened with C&D over patents-Washington.

"Until this insane gambling casino mentality is extirpated and replaced any attempt to prop it up is foredoomed."

QFT
and which candidate has strongest ties to the Casino industry...

By: Thingumbob_Esq

Thingumbob_Esq — Mon, 13 Oct 2008 15:22:57 +0000

Question for Paul Krugman
Mr. Krugman, would you have advocated during the collapses of the South Sea Island, the Tulip, the Mississippi Land, et al. speculative bubbles that governments should have simply printed up more such promissory notes to give the speculators proper government backing? What does this do but promote a more vicious hypothecation of the self same bubble? By the way, it is wrong to characterize this crisis as resulting from merely the latest incarnation of monetarist speculation, i.e. the housing bubble. The credit default swap derivatives the are undergoing de-leveraging are but a small proportion of the cancerous multi hundred trillion derivatives “markets.” Until this insane gambling casino mentality is extirpated and replaced any attempt to prop it up is foredoomed. You can bet on that.

By: Jim_Satterfield

Jim_Satterfield — Mon, 13 Oct 2008 15:22:16 +0000

DLS represents exactly the reaction I expected from the right wing. It isn't possible that he criticizes Republican policy because he honestly feels they're just plain wrong on so many things.

By: kritt11

kritt11 — Mon, 13 Oct 2008 14:02:52 +0000

DLS are you saying he has no right to take a political stand? I really don't see that he's any different than Thomas Friedman or Robert Rubin. If he was taking conservative positions would you be complaining?

I remember last year at this time many righties on this site and elswhere were begrudging the awarding of the Nobel to Gore because he's a liberal.

By: DLS

DLS — Mon, 13 Oct 2008 12:56:17 +0000

If only he'd practice economics 100% of the time rather than taint his work with offensive politics and function as a Dem Party hack the way he has done for the past several years.

Maybe he can be Obama's new Treasury Secretary if Robert Rubin doesn't want the job.