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The vengeful ghost of Supplyside-Economics haunts Austrian papers:

Robert Mundell:

European Tribune - Comments - Hey cool - the economic crisis is already over! European Tribune - Comments - Hey cool - the economic crisis is already over!
Mundell: Die USA leiden an einem Überhang an Immobilien, und den abzubauen wird bis zu einem Jahr dauern. Aber dank der niedrigen Zinsen wird sich der Rest der Wirtschaft rasch erholen, und dadurch werden auch die Häuserpreise wieder steigen. Für die USA_bin ich recht optimistisch, für Europa viel weniger.Mundell: The United States suffer from a surplus of real estate, which will take up to a year to reduce. But thanks to the low interest rates the rest of the economy will recover quickly, and thereby the house prices will rise again. For the USA I'm quite optimistic, much less so for Europe.

Possibly a global effort?
by generic on Thu May 8th, 2008 at 06:17:12 PM EST
European Tribune - Community, Politics & Progress.
The United States suffer from a surplus of real estate,

so the economy will all be o.k. if the US cedes California and Texas to Mexico?

Any idiot can face a crisis - it's day to day living that wears you out.

by ceebs (ceebs (at) eurotrib (dot) com) on Thu May 8th, 2008 at 06:20:58 PM EST
[ Parent ]
California?  Yes.  Texas?  No.  Texas is fine on house prices.  California is another planet.

Be nice to America. Or we'll bring democracy to your country.
by Drew J Jones (pedobear@pennstatefootball.com) on Thu May 8th, 2008 at 07:14:45 PM EST
[ Parent ]
but surely Texas has a much better real estate/house price ratio. you'd get rid of much more real estate for the same amount of house price in the economy if you got rid of Texas.

Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Thu May 8th, 2008 at 07:18:48 PM EST
[ Parent ]
If you're trying to convince me that we should get rid of Texas, then quit preaching, Reverend.  You had me at "Hello". ;)

Be nice to America. Or we'll bring democracy to your country.
by Drew J Jones (pedobear@pennstatefootball.com) on Thu May 8th, 2008 at 07:21:42 PM EST
[ Parent ]
some vague memory says that Texas  actually has the right to leave the US written into the agreements that incorporated it into the USA, but that could be something i'm entirely immagining from a drunken haze.

Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Thu May 8th, 2008 at 07:26:39 PM EST
[ Parent ]
Or it could be something that Texans made up.

Hell if I know.

Be nice to America. Or we'll bring democracy to your country.

by Drew J Jones (pedobear@pennstatefootball.com) on Thu May 8th, 2008 at 07:30:30 PM EST
[ Parent ]
True.
by the stormy present (stormypresent aaaaaaat gmail etc) on Thu May 8th, 2008 at 07:35:00 PM EST
[ Parent ]
true it can leave?
or
true it was a drunken haze?

Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Thu May 8th, 2008 at 07:48:15 PM EST
[ Parent ]
I actually think it might be true.  I seem to remember something like that from high school or middle school.

Although, granted, that was a haze, too, so perhaps we're both wrong.

Be nice to America. Or we'll bring democracy to your country.

by Drew J Jones (pedobear@pennstatefootball.com) on Thu May 8th, 2008 at 07:58:13 PM EST
[ Parent ]
i seem to remember that if it leaves, it gets to split into three separate sections. this is a bit too many details for alcohol induced hallucinations. (or not enough)

Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Thu May 8th, 2008 at 08:00:43 PM EST
[ Parent ]
Close.  Five different sections, but only the one with  Austin wouldn't suck (MHO).

http://www.snopes.com/history/american/texas.asp

As for the economy, I wonder if all the folks who knew that WMDs were not going to be found in Iraq (which includes a lot of us) are the same as those who know that things are going to get a whole lot worse for a long while, no matter how many paid-for Pollyannas break wind out of their mouths.

Karen in Austin

'tis strange I should be old and neither wise nor valiant. From "The Maid's Tragedy" by Beaumont & Fletcher

by Wife of Bath (kareninaustin at g mail dot com) on Thu May 8th, 2008 at 11:49:47 PM EST
[ Parent ]
It was always my impression that written into law or generally unwritten, Texans could always do whatever they actually decided to do, and t'hell with anyone who tried to stop 'em.

For example, i understood that lawmaking was done at the bar of the Driscoll Hotel, then later transferred to the "legislative" process.

"That's right, you're not from Texas
Texas loves you anyway."

Mr. L. Lovett

"Life shrinks or expands in proportion to one's courage." - Ana´s Nin

by Crazy Horse on Fri May 9th, 2008 at 03:04:14 AM EST
[ Parent ]
Ah, the bar at the Driskoll Hotel... it's also where all the real contacts are made during the Austin Heart of Film Festival and Screenwriters Conference.

I'd love to be a year-round fly on the wall at that place; lots of scoops to be had.

Karen in Austin

'tis strange I should be old and neither wise nor valiant. From "The Maid's Tragedy" by Beaumont & Fletcher

by Wife of Bath (kareninaustin at g mail dot com) on Fri May 9th, 2008 at 06:23:09 AM EST
[ Parent ]
I believe that contention was settled by the War between the States, or did you think that war was about something else?

I can swear there ain't no heaven but I pray there ain't no hell. _ Blood Sweat & Tears
by Gringo (stargazing camel at aoldotcom) on Fri May 9th, 2008 at 09:12:30 PM EST
[ Parent ]
Alas, Texas is disappearing:

A large sinkhole that has swallowed up oil field equipment and vehicles in southeastern Texas is still growing but there have been no reports of injuries or damage to homes.

Television news footage showed a tractor, oil field equipment and telephone poles falling into the sinkhole as it grew near Daisetta, northeast of Houston.

Or, perhaps, it's being outsourced.

She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre

by ATinNM on Thu May 8th, 2008 at 10:56:50 PM EST
[ Parent ]
Now if the sinkhole would only take Houston, that would be progress.

"Life shrinks or expands in proportion to one's courage." - Ana´s Nin
by Crazy Horse on Fri May 9th, 2008 at 02:59:18 AM EST
[ Parent ]
This guy has not the slightest idea how the economy works, has he?

Where does he think the credit=money will actually come from for this recovery?

Or rather - won't come from.

"The future is already here -- it's just not very evenly distributed" William Gibson

by ChrisCook (cojockathotmaildotcom) on Thu May 8th, 2008 at 06:30:59 PM EST
[ Parent ]
This guy has not the slightest idea how the economy works, has he?

No.

(This has been another edition of Simple Answers to Simple Questions.)

Be nice to America. Or we'll bring democracy to your country.

by Drew J Jones (pedobear@pennstatefootball.com) on Thu May 8th, 2008 at 07:13:15 PM EST
[ Parent ]
Y'all in Europe apparently haven't gotten the memo that only the WSJ is supposed to be stupid enough to publish this goofball.

Be nice to America. Or we'll bring democracy to your country.
by Drew J Jones (pedobear@pennstatefootball.com) on Thu May 8th, 2008 at 07:16:21 PM EST
[ Parent ]
They don't call it the Austrian School of Economics for no reason.

When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done. — John M. Keynes
by Carrie (migeru at eurotrib dot com) on Fri May 9th, 2008 at 03:07:24 AM EST
[ Parent ]
The reason is that if they called it the Alabama School of Economics, people might notice.
by ThatBritGuy (thatbritguy (at) googlemail.com) on Fri May 9th, 2008 at 07:23:16 AM EST
[ Parent ]
Same thing, though, since the Austrian School is based in Auburn, Alabama, here in the states.

Be nice to America. Or we'll bring democracy to your country.
by Drew J Jones (pedobear@pennstatefootball.com) on Fri May 9th, 2008 at 10:25:36 AM EST
[ Parent ]

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