Wisconsin: Unofficial Member of the European Austerity Club

Economically, Scott Walker and the Republicans have dragged Wisconsin into a debate about the ability of economic austerity to create growth.  Much crowing happened on the right when Walker and the GOP claimed to have balanced the state budget and closed a $3.6 billion gap (even though that was a…

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We Told You So…

Krugsandra laments the state of Spain and the Eurozone… again.  Despite the ongoing failure of the austerity measures imposed on the Eurozone by the ECB and Germany, things are not improving. Nonetheless, the prescription coming from Berlin and Frankfurt is, you guessed it, even more fiscal austerity. This is, not…

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Paul Krugman is Wise (as well as shrill!)

Paul Krugman offers advice to those who would tackle the Political-Industrial Complex ™ in America.  You must be prepared to reap the whirlwind (and laugh in the face of danger) when they strike back.  Lisa and Zach, you need to take this to heart when you go after asshats like The…

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Chopstick Capitalism

Why is Communist China better at capitalism than we are?

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The Golden Euro

Not to be confused with The Golden Snitch…  Paul Krugman today aligns himself with the MMTers (Modern Monetary Theorists) in explaining why the Eurozone is failing so spectacularly and seems so incapable of coming up with a remedy.  He examines the two current narratives as to why the Eurozone is…

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Mitt Romney on deficit reduction: “as you cut spending you’ll slow down the economy.”

Republican presidential candidate Mitt Romney, in a rare moment of candor during a campaign even in Michigan: “If you just cut, if all you’re thinking about doing is cutting spending, as you cut spending you’ll slow down the economy.” Romney’s comment was quickly walked back by his campaign, presumably because…

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Republican Derailment Syndrome

Paul Krugman’s OpEd today succinctly lays bare the catastrophic derailment of the modern Republican party.

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Hyperinflation Doom Approaches…

Crank up the printing presses at the Treasury!  Time to print those $1 Billion bills so we can buy bread!

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Why It’s Good to be the King: Part I

The kerfluffle swirling around Mitt’s income tax returns reached a fevered pitch this week.  The quintessential “Born with a Silver Foot in his Mouth” candidate, Mitt objects to telling America what he’s worth.  But he was kind enough to share his effective tax rate with the peasants: 15%.  The reason…

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Arguing with Economists: 7 Principles

Noah Smith, one of my favorite economics bloggers, produced a list of 7 principles you need to know when arguing with economists.  Many of them are generally applicable to arguing with “experts” in general.  Well worth a look. My favorite principle is one that I will call “The Krugman Principle.”…

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