Reagan did it

It is a typical Krugman arguement -- people are too stupid to take care of themselves, so they need government to do it for them. Personal responsibility is an alien concept.

BTW, I especially liked the bit where he implied that there was no deficit before Reagan, implied that rising government debt was bad, and then spent the rest of the article talking about private debt. A classic bait and switch.

Edited: 06/26/2010 at 08:24AM

Matthew Gil

Real Estate Investor

342 posts
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Icon_minipost Jun 01 '09, 02:26 AM

Krugman also never mentioned that this "excess spending" help contribute to the collapse of the Cold War and at that time, the debt ratio as a percentage of GDP was still below most western European countries.

Edited: 06/26/2010 at 08:24AM

Eddie Ziv

Real Estate Investor · Studio City, California

1803 posts
12555 Influence
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Icon_minipost Jun 01 '09, 03:43 AM

Wow! So many republicans and so little time... Hummm. When it comes to blame, we, Americans are experts. Who did it? He did it, she did it, and whoever is trying to fix it is doing it wrong.
Alternatives, anyone?

Edited: 06/26/2010 at 08:24AM

Matty M

Real Estate Investor · Los Angeles, California

523 posts
837 Influence
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Icon_minipost Jun 01 '09, 04:00 AM

Originally posted by Eddie Ziv

Alternatives, anyone?

Yes -

Most in the U.S throne are puppets to to the real power, the central bankers. Until the power structure changes it will be the same story. The fed is a socialist functioning cartel entity regardless of whether or not the puppet president is a republican or democrat. The fed holds the power. Congress has no legal right know how much money exactly is being printed, or what deals are being cut with china, london, etc...

There is an alternative for you.

Updated: 08:45AM, 06/01/2009

typo correction

Updated: 08:45AM, 06/01/2009

or maybe not

Edited: 06/26/2010 at 08:24AM

Tim W.

Real Estate Investor · Indiana, Indiana

4333 posts
23859 Influence
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Icon_minipost Jun 01 '09, 04:02 AM

Originally posted by Eddie Ziv

Wow! So many republicans and so little time... Hummm. When it comes to blame, we, Americans are experts. Who did it? He did it, she did it, and whoever is trying to fix it is doing it wrong.
Alternatives, anyone?

So how's liberal economics working in California again? You never answered me from before. You guys aren't having any fiscal problems that the rest of the country may have to bail you out on despite having the income of silicon valley, Hollywood and easily one of the richest supply of natural resources of any state are you?

Want to know how Alaska's doing?

Edited: 06/26/2010 at 08:24AM

Steve Nicewarner

Residential Real Estate Broker · Durham, North Carolina

145 posts
861 Influence
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Icon_minipost Jun 01 '09, 05:10 AM

Originally posted by Eddie Ziv

Wow! So many republicans and so little time... Hummm. When it comes to blame, we, Americans are experts. Who did it? He did it, she did it, and whoever is trying to fix it is doing it wrong.
Alternatives, anyone?

For the record, I'm Libertarian. And my solution is to let the poorly run companies fail, and the well-run companies succeed. If any Federal money was needed at all, it should have been offered to the successful companies to cover the needed duties in the financial sector when Citibank et al failed.

Or, as I frequently put it "The financial sector might need a Citibank, but it doesn't have to actually *be* Citibank."

Edited: 06/26/2010 at 08:25AM