Monday, April 18, 2011
OKAY JUST ONE MORE GREAT TAKE BY KRUGMAN ON THE DEFICIT DEBATE
I know I've been posting a lot of links to Paul Krugman lately, but he's filled the hole Frank Rich's departure from The NY Times caused, and today's column seemed so calmly clear and correct (of course not to anyone on the right resistant to reason) I just had to share it for those who don't regularly read him.
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Wall Street shares slump as S&P downgrades US debt outlookRatings agency cuts long-term outlook from stable to negative for first time since Pearl Harbor attack 70 years ago
Share956 Larry Elliott, Economics editor.
HAIL TO THE CHEIF!!!!!
"The blue chips closed the Friday before inauguration — the last full trading day of Bush’s term — at 8,281, way off of the 10,588 that the index stood at when Bush took office in 2001.
That makes Bush the first president since Richard Nixon to preside over a declining Dow. In percentage terms, Bush’s 21.8 percent Dow drop is the worst showing since the 83.2 percent decline under President Herbert Hoover, whose term included the 1929 stock market crash.
If you had invested $10,000 in NASDAQ on the day Obama was inaugurated, it would have been worth $17,700 on November 2, the day of the midterm elections. That’s a 77% return in 22 months. With little or no inflation. So much for a “socialist president.” On the evidence, the stock market turned around on Obama’s watch."
put that in your pipe and smoke it, Buck Rogers.
Wall Street shares slump as S&P downgrades US debt outlookRatings agency cuts long-term outlook from stable to negative for first time since Pearl Harbor attack 70 years ago
Share1091 Larry Elliott, Economics editor The Guardian, Tuesday 19 April 2011 Article history
Traders at the New York Stock Exchange see shares tumble as S&P cut its outlook on US from stable to negative.
Definition of Jim: Ignorer of the facts, practioner of double standards, hypocrit (doesn't like being called names, but calls more names than anybody), still pissed off about shit that happened when he was a kid.
oh, that was from the abbreviated dictionary - the full Webster's version also has: "coward, moron, liar and gonad-brains."
Man, I go to sleep on the East Coast and the comment stream goes crazy with the man I told I was going to delete because I'm tired of his repetitive non-sense. But because you, Zuckster, tried to answer him, I'm leaving the main "fact" he put in a comment for some context to your comments, but it's pointless to engage him, it just fuels his megalomania. He will never admit being wrong or his own lies etc. and will constantly accuse anyone on the left who challenges rightist propaganda of name calling etc. It's a classic rightist move (notice Paul Ryan's feigned indignation at Obama's speech that dared criticize the Ryan/Republican proposal to sacrifice the poor and working class for even greater tax cuts for the rich, this from a party and a man who has accused Obama of all kinds of untrue things and called him names and etc. etc.—the right is so great at feigning indignation when needed and accusing its opponents of weakness or liberal "political correctness" when they react etc.). There would be no "debt crisis" or warnings of downgrading the USA's debt rating if the Bush/Cheney tax cuts had been allowed to expire as they were meant to and would have if the Republicans hadn't held the poor and working class hostage and the Deams only recourse (some of them thought) was to cave on cuts for the richest. The right's Ayn Rand philosophy led to the crash of 2008 and now they want to extend it even further.
If we return to the tax rates of the Clinton years there is no deficit, return to the tax rates of pre-Reagan and we have a surplus and money to pay for all our programs, and as has been proven and is the point of the articles I put links to, and the reason the rightwinger has to call Krugman names for writing them and me names for putting links to them, is pure unadulterated fear of the facts which prove that tax cuts for the wealthy since Reagan have harmed the economy and tax increases for the wealthy have helped the economy, all the graphs and charts and statistics prove that, but it's a very inconvenient truth for rightwing zombies determined to follow their corporate leaders off the cliff of "never enough" for the rich even if it means the destruction of our country as we know it.
Krugman is right. One can be respectful and yet not civil. It's called "righteous indignation."
~ Willie
Uh er, meant to say "Willy" not "Willie."
smock smock!
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