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Zombie ideas and confidence fairies

 
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Mark



Joined: 22 Mar 2007
Posts: 1374

PostPosted: Tue Mar 29, 2011 11:48 pm    Post subject: Zombie ideas and confidence fairies Reply with quote

Here are links to a few Paul Krugman columns from a New York Times site (my topic wording comes from them):
When Zombies Win:
http://www.nytimes.com/2010/12/20/opinion/20krugman.html?ref=paulkrugman
The Forgotten Millions:
http://query.nytimes.com/gst/fullpage.html?res=9F02EFDE1F3EF93BA25750C0A9679D8B63&ref=paulkrugman
The Austerity Delusion:
http://www.nytimes.com/2011/03/25/opinion/25krugman.html?_r=1&ref=paulkrugman
His columns are sometimes reprinted in my local paper and are a breath of rationality compared to the insanity and inanity in modern Washington, DC. If you don't already get his columns I recommend browsing through them on the NY Times site.
This looks like a home page for his columns:
http://topics.nytimes.com/top/opinion/editorialsandoped/oped/columnists/paulkrugman/index.html
I don't know if access to these columns will be affected by planned changes to the NYT site I've seen mentioned elsewhere.
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Mark



Joined: 22 Mar 2007
Posts: 1374

PostPosted: Thu Mar 31, 2011 10:46 am    Post subject: Reply with quote

These are a few more good columns I looked at while trying to find one explaining the magic asterisk:
Reagan Did It:
http://www.nytimes.com/2009/06/01/opinion/01krugman.html?ref=paulkrugman
The New Voodoo:
http://www.nytimes.com/2010/12/31/opinion/31krugman.html?ref=paulkrugman
Willie Sutton Wept:
http://www.nytimes.com/2011/02/18/opinion/18krugman.html?ref=paulkrugman
(The magic asterisk is a budget trick from the Reagan era for hiding the fact that a proposed budget won't work by burying details in footnotes. I haven't yet found the column that explained it.)
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LizE



Joined: 22 Mar 2007
Posts: 253

PostPosted: Tue Apr 05, 2011 8:23 pm    Post subject: Reply with quote

Mark, I don't know about him. He seems good at describing symptoms, but doesn't seem to connect the dots the way Matt Taibbi does. What do you think?
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Frosty13



Joined: 04 Oct 2010
Posts: 22

PostPosted: Wed Apr 06, 2011 6:44 am    Post subject: Reply with quote

I read Krugman's columns, but I don't really care for him. It seems to me that all of his conclusions are based on the presumption that everyone is exactly alike, that any discrepancy in income between two groups is totally caused by external factors, without including things like personal decisions, value systems, family support, etc. On the other hand, he does seem to be a very sympathetic man, which makes him want to fix things, make them better for everyone.
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Mark



Joined: 22 Mar 2007
Posts: 1374

PostPosted: Wed Apr 06, 2011 6:58 pm    Post subject: Reply with quote

I don't recognize the name Matt Taibbi, so I don't think I've read anything by him.
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LizE



Joined: 22 Mar 2007
Posts: 253

PostPosted: Thu Apr 07, 2011 10:37 am    Post subject: Reply with quote

Matt Taibbi writes for Rolling Stone. He's done some excellent in-depth (and controversial) reporting on Goldman Sachs (where he famously likened them to a giant vampire squid wrapped around the face of humanity) and the passage of the financial reform bill. The last is probably my favorite article by him and here it is for your reading pleasure:

http://www.rollingstone.com/politics/news/wall-streets-big-win-20100804

His next article is going to be about the audit of the Federal Reserve. He says...

Quote:
That story, which will be coming out in Rolling Stone in two weeks, will examine in detail some of the many lunacies uncovered by Senate investigators amid the recently-released list of bailout and emergency aid recipients – a list that includes many extremely shocking names, from foreign industrial competitors to hedge funds in tax-haven nations to various Wall Street figures of note (and some of their relatives).


One such bailout loan was $26B lent at very low rates (down to 1/4 of 1%) to ABC Bank, which is 59% owned by the Central Bank of Libya--and has been exempted from the freeze on Libyan assets.

Quote:
Why, I wondered, would the Federal Reserve be giving Muammar Qaddafi $26 billion in near-zero interest loans? Exactly how does that address America’s financial problems? What bailout plan could that possibly be part of?


Very good questions. The answers should be interesting.
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Mark



Joined: 22 Mar 2007
Posts: 1374

PostPosted: Mon Jun 13, 2011 10:54 am    Post subject: Reply with quote

Here are a couple more excellent recent Krugman columns:
http://www.nytimes.com/2011/05/30/opinion/30krugman.html
http://www.nytimes.com/2011/06/10/opinion/10krugman.html
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