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Your Abbreviated Pundit Round-up
Daily Kos —
... Paul Krugman: There are some disturbing parallels between 2008 and 1932, and one disturbing one is the gap between when the discredited Bush leaves and the new folks take over. ...
The Note: Obama Waits on Change for January
Political Radar —
... “By resigning from the Senate before the current session began and allowing it to appear that a sense of drift could prevail until he is inaugurated, Mr. Obama may have missed an opportunity to exert leadership.” “How much can go wrong in the two months before Mr. Obama takes the oath of office? The answer, unfortunately, is: a lot,” Paul Krugman writes in his column. “At minimum, the next two months will inflict serious pain on hundreds of thousands of Americans, who will lose their jobs, their homes, or both. What’s really troubling, however, is the possibility that some ...
Krugman Warns Of Power Vacuum In Economic Crisis
The Huffington Post | Full News Feed —
... Paul Krugman warns in the New York Times that President Bush's lame duck tenure could do serious damage to an economy already in a downward spiral: ...
Krugman Warns Of Power Vacuum In Economic Crisis
Politics on HuffingtonPost.com —
... Paul Krugman warns in the New York Times that President Bush's lame duck tenure could do serious damage to an economy already in a downward spiral: ...
Hullabaloo — Interregnum Interruptus by digby Krugman brings up something this morning that I was coincidentally chatting about over dinner with a friend last night --- what are the ramifications of having the lamest of lame ducks visibly uninterested and engaged at this moment of economic crisis, (not to mention a congress that has time to laud convicted felons in their midst but can't seem to stick around to deal with this huge problem developing in Detroit?) I vaguely recalled something similar in 1932 but couldn't remember the details. Krugman fills in the blanks: There is, however, another and more disturbing ...
Lame Duck Economy, Ray Guns in Iraq
Notes From a Grumpy Old Man —
... First, the Fed Chair Paulson has been running around like Chicken Little telling us " The economy is falling! The economy is falling!" until we give him 700 billion dollars. He gives money to his friends who do not have to be accountable and tell us where they spend the money, and companies like AIG then ask for more. We are told that bad mortgages are behind it all, but money is used to bolster credit card companies and banks instead, and tell the auto industry to go and drive off of a cliff. Now, Paulson is saying that he may not use the second half of the 700 ...
What Sucks Today?
N/A —
For all the FDR Obama chat, it would behoove us not to forget Hoover in hindsight. That sucking sound you hear? It’s that vacuum at the top.
There is, however, another and more disturbing parallel between 2008 and 1932 — namely, the emergence of a power vacuum at the height of the crisis. The interregnum of 1932-1933, the long stretch between the election and the actual transfer of power, was disastrous for the U.S. economy, at least in part because the outgoing administration had no credibility, the incoming administration had no authority and the ideological chasm between the two sides was too great to ...
Scattered light
The Sideshow —
... , although Keynesian policies had nothing to do with the Great Society programs. What he doesn't say is that the other problem with this formulation is that the Great Society programs did work, and cut poverty in the US dramatically before they were dismantled by the Republicans. Meanwhile, he warns that things can get a whole lot worse before Obama takes over in January. ...
Bush’s Impossible Achievement
The Moderate Voice —
... Paul Krugman cites today’s parallel with the “power vacuum” in 1932-1933 that was “disastrous for the U.S. economy, at least in part because the outgoing administration had no credibility, the incoming administration had no authority and the ideological chasm between the two sides was too great to allow concerted action.” ...
A President Who Will Never Do the Right Thing
TalkLeft —
... Despite Paul Krugman's warning that inaction between now and January 20 will worsen the crisis, Bush is off to Peru. Washington is getting a bit chilly for him and Peru is so much warmer. ...
Is Bush A Stinking Drunk Again?
DownWithTyranny! —
... A few days ago Paul Krugman warned about the dangers of a power vacuum reminiscent of the time between FDR was elected in November 1932 and the times he was inaugurated in March 1933. "In 2008, as in 1932, a long era of Republican political dominance came to an end in the face of an economic and financial crisis that, in voters’ minds, both discredited the G.O.P.’s free-market ideology and undermined its claims of competence." ...
