Words of Advice:

"We have it totally under control. It's one person coming from China. It's going to be just fine." -- Donald Trump, 1/22/2020

“We will not see diseases like the coronavirus come here..and isn't it refreshing when contrasting it with the awful presidency of President Obama."
-- Trump Press Secretary Kayleigh McEnany, 2/25/20

"I don't take responsibility for anything." --Donald Trump, 3/13/20

"If Something Seems To Be Too Good To Be True, It's Best To Shoot It, Just In Case." -- Fiona Glenanne

"Flying the Airplane is More Important than Radioing Your Plight to a Person on the Ground Who is Incapable of Understanding or Doing Anything About It." -- Unknown

"There seems to be almost no problem that Congress cannot, by diligent efforts and careful legislative drafting, make ten times worse." -- Me

"What the hell is an `Aluminum Falcon'?" -- Emperor Palpatine

"Eck!" -- George the Cat

Friday, January 29, 2010

We Are So Screwed; Economics Edition

That is basically the central point of Paul Krugman's column today in the NY Times.

You should read the entire piece. But if you don't want to take the time, here is the conclusion:
We’re paralyzed in the face of mass unemployment and out-of-control health care costs. Don’t blame Mr. Obama. There’s only so much one man can do, even if he sits in the White House. Blame our political culture instead, a culture that rewards hypocrisy and irresponsibility rather than serious efforts to solve America’s problems. And blame the filibuster, under which 41 senators can make the country ungovernable, if they choose — and they have so chosen.

I’m sorry to say this, but the state of the union — not the speech, but the thing itself — isn’t looking very good.


Cujo359 said...

The only thing I disagree with Krugman about, as is typical, is health care. If the bill that the government seems to want to pass, the Senate bill or anything remotely like it, is the one they actually pass, health care prices won't be affected at all.

That an economist doesn't seem to understand this really does show what a hopeless pickle we're in.

BadTux said...

I suspect that people like Paul Krugman, Brad DeLong, Joseph Stiglitz, or any number of other excellent economists who could have steered President Hoover II straight have never gotten a single call from the man. He has disappeared into the Washington Bubble where “conventional thinking” (i.e., thinking by cretins, for consumption by cretins) is all that counts, and we’re all going to pay the price for that.

In short, I believe Mr. Krugman is actually being easy on President Hoover II. President Hoover II has not said or done anything to indicate that he's any different from his predecessor on things economic, whether it's magical thinking about taxes, or whatever.

- Badtux the Economics Penguin