NP - Toryism (Austerity) Isn't Working.

[David Morris]

On Thu, Apr 26, 2012 at 6:05 AM, alice wellintown
<alicewellintown at gmail.com> wrote:
>
> Well, we had a liquidity crisis. The response, all the programs put in place, were designed to deal with the crisis. They worked. The question is not should we have taken (since most of the programs have expired)  these necessary steps, but did we do enough and do we need to do more.

So far, so good.  The answer is "no" and "yes."  What we did, stimulus
and bailouts, worked.  But we should have gone much further with the
stimulus, and we should have attached long strings to the bailouts (of
the banks).

>This is what level headed economists are debating. Krug, I maintain, has become so political that he has taken to calling Ben out and has ignored the economics of Ben's actions so he can attack Ben on the political front. Not a good idea. That Ben wrote, what Krug considers, a Rooseveltian paper on Japan when Japan was suffering deflation and political deadlock, is a fact. But Krug ignore the differences in these two economies and the crises they face and focuses on the plitical.

Now you've jumped into the bullsit:

1. Nobel recipient, Paul Krugman, has advocated economic policies, and
has called out Bernake for not following what he correctly advocated
prior to heading the Fed (maybe Ben is being too political?).

2.  You say Krugman has ignored differences between Japan then and us
now, but you fail to list any differences, and resort to name calling
Krugman "political."

3.  Krugman has, from the start, also repeatedly called out Obama to
doing too little with the Stimulus Package, and today most people
agree with that assessment.  When a public advocate is critical of the
actions of officials with the reigns of power, for specific reasons,
that advocate is doing his job.

http://krugman.blogs.nytimes.com/

http://en.wikipedia.org/wiki/Paul_Krugman