Monday, August 10, 2009

Shorter Krugman: Yeah Big Government!

We have to defer to D-Day, for "Headline of the Day";

Paul Krugman: making heads explode everywhere

So I recommend you read Paul Krugman, like usual. This piece will make right-wing heads explode even more than anything else I've cited from him. Especially this part:

All in all, then, the government has played a crucial stabilizing role in this economic crisis. Ronald Reagan was wrong: sometimes the private sector is the problem, and government is the solution.
No doubt, Reagan's #1 Groupie, Peggy Noonan, has already made the call, for the delivery of a case of wine, and is refilling her prescription meds, so she can hunker down and defend her beloved hero.

As usual, Paul Krugman has been keeping his eye of the ball, and presents measured optimism that things are, slowly, very slowly, heading towards the better;

Averting the Worst

For all that, however, the latest flurry of economic reports suggests that the economy has backed up several paces from the edge of the abyss.

A few months ago the possibility of falling into the abyss seemed all too real. The financial panic of late 2008 was as severe, in some ways, as the banking panic of the early 1930s, and for a while key economic indicators — world trade, world industrial production, even stock prices — were falling as fast as or faster than they did in 1929-30.

But in the 1930s the trend lines just kept heading down. This time, the plunge appears to be ending after just one terrible year.

So what saved us from a full replay of the Great Depression? The answer, almost surely, lies in the very different role played by government.
That's right, the PartyofNoicans arch enemy, Big Government, is running in to save the day.
We don’t know what the economic policies of a McCain-Palin administration would have been. We do know, however, what Republicans in opposition have been saying — and it boils down to demanding that the government stop standing in the way of a possible depression.

I’m not just talking about opposition to the stimulus. Leading Republicans want to do away with automatic stabilizers, too. Back in March, John Boehner, the House minority leader, declared that since families were suffering, "it’s time for government to tighten their belts and show the American people that we ‘get’ it." Fortunately, his advice was ignored.
Something Robert Stein agrees with;
It will take months, even years, before the verdict is in on the wisdom of every aspect of the enormous Obama spending and deficit growth, but one thing is already clear: All that furious activity has been more reassuring than a President McCain approach of tax cuts and hoping for the best.

If you happen to work with, or live near, any Right Wing Freak Show Flying Monkeys, you may want to bring along your rain slicker.

Krugman promoting Big Government should get them flinging their feces around.

The Queen Monkey, Michelle "Staklin" Malkin, has already issued the clarion call.

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