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Hullabaloo — Hair On Fire by digby Krugman: The reason we’re making analogies with the Great Depression — and the reason I’ve come out with a new edition of The Return of Depression Economics — is the collapse of policy certainties. In particular, the Fed’s sudden impotence — its inability to cut rates any more, because they’re essentially zero — is a very real parallel with the Depression, and necessitates drastic responses. Now, if all goes well the Obama stimulus plan will head off the worst. But that will be precisely ...
58 Days
The Mahablog —
... live more moral lives.” By contrast, today’s Federal Reserve chairman, Ben Bernanke, is a student of the Great Depression, and the wealthy Treasury secretary, Henry Paulson, wants to provide liquidity to stocks, farmers, and real estate. A final difference: After the 1929 crash, the nation had to wait more than three years for a president who simply wasn’t up to the job to leave the scene. This time, we’ve got to wait only two more months.
Paul Krugman says Gross is missing the point.
The reason we’re making ...
Dazed and Confused
N/A —
Depression? What depression? What’s really depressing?
The reason we’re making analogies with the Great Depression [ ] is the collapse of policy certainties. In particular, the Fed’s sudden impotence — its inability to cut rates any more, because they’re essentially zero — is a very real parallel with the Depression, and necessitates drastic responses.
Great Depression? What is so great about any depression? Just asking. Must be the oxymoron of all time. The ...
Cry Me A River, And Color Me Skeptical
Firedoglake —
... Well, wouldn't it be all candy and flowers if the GOP has learned to look past the "I've got mine, screw you" trickle on philosophy and contemplate the "we" of the world.
Except they haven't.
Reading up on the fall of Freedom's Watch (shorter version: the economy is smacking the snot out of right-funding billionaires, too, these days -- oh, the wingnut welfare horror!), I noticed this little gem from one of Nevada's top GOP stalwarts: ...
"The current crisis is, indeed, like the Great Depression in important ways"
AMERICAblog News| A great nation deserves the truth —
Krugman is just freaking me out now. The reason we’re making analogies with the Great Depression — and the reason I’ve come out with a new edition of The Return of Depression Economics — is the collapse of policy certainties. In particular, the Fed’s sudden impotence — its inability to cut rates any more, because they’re essentially zero — is a very real parallel with the Depression, and necessitates drastic responses. Now, if all goes well the Obama stimulus plan will head off the worst. But that will be precisely because we understood that the current crisis ...
