Politics Can our Republican friends here please explain something...

Discussion in 'Blazers OT Forum' started by Stevenson, Feb 28, 2018.

  1. Denny Crane

    Denny Crane It's not even loaded! Staff Member Administrator

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    Brian taking the kids to school.
     
  2. Lanny

    Lanny Original Season Ticket Holder "Mr. Big Shot"

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  3. Denny Crane

    Denny Crane It's not even loaded! Staff Member Administrator

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    I've proven it. Brian's proven it.

    Can you prove you're not being ignorant on purpose?
     
  4. MarAzul

    MarAzul LongShip

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    Well I probably ought to tell you do to what ever you want with the info I posted. You could even print it out so you could do that thing too!

    But I will indulge just this once. As you know, there are few links to any thing said by anyone in the early 1980s. But google today will produce much negative comment from Krugman about Paul Volcker and Disinflation. Hardly a thing ever from Volcker about Krugman made it into the media. So if you do not like my first hand report, proceed as above. But on the other hand, logic would tell you that Volcker probably did not much care for the loud mouth son of bitch.

    But I did find one little tidbit for you to read, specifically this copy;


    To the Daily Princetonian (later reprised by the Wall Street Journal) Volcker stated with refreshing bluntness:

    The responsibility of any central bank is price stability. … They ought to make sure that they are making policies that are convincing to the public and to the markets that they’re not going to tolerate inflation.

    This was followed by a show-stopping statement: “This kind of stuff that you're being taught at Princeton disturbs me.”

    Taught at Princeton by ... whom?

    https://www.forbes.com/sites/ralphb...ing-princeton-in-quiet-disgrace/#9df4da5766f2
     
  5. BrianFromWA

    BrianFromWA Editor in Chief Staff Member Editor in Chief

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    The NYT piece was Krugman writing about the post-election failures. You're doing this wrong.

    What Happened on Election Day
    By The New York Times
    since your last visit.
    How the election and Donald Trump’s victory looks to Opinion writers.

    Photo
    [​IMG]
    Traders on the New York Stock Exchange on Nov. 1. Credit Spencer Platt/Getty Images
    Paul Krugman: The Economic Fallout
    By Paul Krugman
    Comment 2016-11-09T00:42:44-05:00 November 9, 2016 12:42 AM ET
    It really does now look like President Donald J. Trump, and markets are plunging. When might we expect them to recover?
    Frankly, I find it hard to care much, even though this is my specialty. The disaster for America and the world has so many aspects that the economic ramifications are way down my list of things to fear.
    Still, I guess people want an answer: If the question is when markets will recover, a first-pass answer is never.
    Under any circumstances, putting an irresponsible, ignorant man who takes his advice from all the wrong people in charge of the nation with the world’s most important economy would be very bad news. What makes it especially bad right now, however, is the fundamentally fragile state much of the world is still in, eight years after the great financial crisis.
    It’s true that we’ve been adding jobs at a pretty good pace and are quite close to full employment. But we’ve been doing O.K. only thanks to extremely low interest rates. There’s nothing wrong with that per se. But what if something bad happens and the economy needs a boost? The Fed and its counterparts abroad basically have very little room for further rate cuts, and therefore very little ability to respond to adverse events.
    Now comes the mother of all adverse effects — and what it brings with it is a regime that will be ignorant of economic policy and hostile to any effort to make it work. Effective fiscal support for the Fed? Not a chance. In fact, you can bet that the Fed will lose its independence, and be bullied by cranks.
    So we are very probably looking at a global recession, with no end in sight. I suppose we could get lucky somehow. But on economics, as on everything else, a terrible thing has just happened.
     
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  6. Denny Crane

    Denny Crane It's not even loaded! Staff Member Administrator

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    You're doing it right, Brian.
     
  7. MarAzul

    MarAzul LongShip

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    Well Lanny? Need to print this one too? So you can use it appropriately?
     
  8. Denny Crane

    Denny Crane It's not even loaded! Staff Member Administrator

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    If it has a link, he doesn't want to click on it.

    Yet he demands you provide him links.

    :crazy:
     
  9. Lanny

    Lanny Original Season Ticket Holder "Mr. Big Shot"

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    Even on the face of it, this assertion appears illogical.
     
  10. Lanny

    Lanny Original Season Ticket Holder "Mr. Big Shot"

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    I request, not demand, credible links. If it's not credible why should I waste my time on it when there's something like a 0.1% chance of it being accurate?
     
  11. Lanny

    Lanny Original Season Ticket Holder "Mr. Big Shot"

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    More chaos? I haven't printed anything. I have no idea how you came up with that chaotic thought.
     
  12. Denny Crane

    Denny Crane It's not even loaded! Staff Member Administrator

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    Your definition of "credible" is highly questionable.

    That has become quite clear from reading your posts.
     
  13. Lanny

    Lanny Original Season Ticket Holder "Mr. Big Shot"

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    Show me a million economists and I'll show you a million predictions. No one's going to get it right all the time.

    But I don't think you can throw his prediction out completely. After all, we're early in the Trump Presidency.

    I've made good money in the stock market and I've now downgraded my investments to conservative because I think the economy is in for a rough spot. How soon? Who knows but it could be soon.
     
  14. Denny Crane

    Denny Crane It's not even loaded! Staff Member Administrator

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    Krugman in his own words in a "highly respected" publication like the NYTimes isn't credible.

    :crazy:
     
  15. BrianFromWA

    BrianFromWA Editor in Chief Staff Member Editor in Chief

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    First, I think that your estimation is off. 0.1% is really low, literally 1 of a thousand data points or articles or...

    Second, I laid out in pretty systematic order, including links to all sources, the NYT, LA Times, Reuters and Krugman's own blogs. You can see his words as written by him. And then just judge for yourself how correct or prescient he is. Do you think 99.9% of the NYT, LAT, Reuter's and Krugman's own words are incorrectly attributing a thought to him, or incorrectly reporting on the economic stats published by the government?

    Third, your measure of "credible" may be worth looking into. We already showed this week how you were missing a pretty big story about HRC (again, in her own words on video) because the source you said that you trust did not feel that it was newsworthy enough to report to you. I absolutely understand the concept of removing things from your life that don't make you enjoy it, but it seems to hamstring any arguments going forward where you're literally not looking at data points because you limit your sources. :dunno:
     
  16. Denny Crane

    Denny Crane It's not even loaded! Staff Member Administrator

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    The video can't be trusted!
     
  17. MarAzul

    MarAzul LongShip

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    Ha!
    Lanny only wants what is agreeable to him. Must be short enough to read in a heart beat too.
     
  18. BrianFromWA

    BrianFromWA Editor in Chief Staff Member Editor in Chief

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    Well, not exactly, but I can agree in principle that no one gets it right all the time. However, the rest of my post above points out multiple times where he epically fails. It's not that he's dumb. It's that he conflates his economic thinking with a political worldview that is incompatible with reality. Hugo Chavez was a smart man. Hugo Chavez probably believed very strongly that he was doing the right thing. Wanna take those earnings and invest them into some bolivars?


    I guess what I'm asking is: what, other than the Nobel Prize, makes you think he is worth predicting anything? Why not listen to Stephen Moore or Robert Murphy or...?
     
  19. Lanny

    Lanny Original Season Ticket Holder "Mr. Big Shot"

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    No, I don't remove stuff just because I don't enjoy reading about it. I do remove stuff that is not credible.

    Yes, I said 0.1% off the top of my head, but I did qualify it as being something like that number. It's based on crap I've been linked to in the past from far Right people.

    The Hillary stuff, I do not recall but I'll bet it was based on a source that simply was not credible.

    I'm weary of all this bobbing and weaving and am running out of energy to continue.

    Are the LA Times and Reuters credible? I'd have to say yes. But I've been at this desk too long to continue.
     
  20. MarAzul

    MarAzul LongShip

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    ummm, I don't think so. His political worldview is thinly covered by an economic robe. No thinking involved.
    His economics including the need for inflation is specifically tailored to keep progressive empowered with tools for pandering to the electorate.
    They can always run on, raising the minimum wage, protect the worker from...., income inequality. That is not economics!

    Ha! Paul Volcker was also a Princeton guy, "Who is teaching this crap?"
     

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