Hey cool - the economic crisis is already over! | 52 comments (52 topical, editorial, 0 hidden)

Re: Hey cool - the economic crisis is already over (4.00 / 2)

I know. It's a real pain in the ass to maintain integrity in economics while diving into day-to-day political battles, because it's almost never clear-cut. The gas-tax fight was one exception, and I was pleased by the reaction from economists across the political spectrum. But that's very rare.

It's funny. The pundits will occasionally bring up Harry Truman's statement that "All my economic advisors say, 'One the one hand _, and on the other hand _.' Someone give me a one-handed economist." And I always think, "Yeah, and we have a word for one-handed economists: Frauds."

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 01:10:12 PM EST
[ Parent ]

Re: Hey cool - the economic crisis is already over (none / 0)

So Truman was 30 years ahead of his time, he would have liked Milton Friedman and the Chicago Boys.

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 02:12:28 PM EST
[ Parent ]

Re: Hey cool - the economic crisis is already over (4.00 / 2)

Well, he was kidding. No, he would not have liked Friedman and the Chicago crowd. Truman was the Democrat who put universal health care into the party's platform and integrated the military.

He's a weird one in the history books. One of the most hated presidents in history during his time, yet he's now looked upon as a true maverick and one of the all-time greats.

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 02:16:49 PM EST
[ Parent ]

Re: Hey cool - the economic crisis is already over (none / 0)

Have you read Naomi Klein's book?

I would REALLY love to see a discussion of it here among people who actually have some economics background. The insights are pretty fascinating, but the book def. has an agenda (hey, that I agree with) so I'm really interested to know what others think of it.

"Pretending that you already know the answer when you don't is not actually very helpful." ~Migeru.

by poemless on Fri May 9th, 2008 at 02:28:22 PM EST
[ Parent ]

Re: Hey cool - the economic crisis is already over (none / 0)

I think they just rolled out a big advertising campaign for The Shock Doctrine in London today - there were large posters in many tube stations.
Maybe I'll get a copy and read it, on your recommendation ;-)

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 06:54:09 PM EST
[ Parent ]

Re: Hey cool - the economic crisis is already over (none / 0)

I keep meaning to read it, but I haven't gotten around to it yet. I may actually grab it tonight if I can drag my lazy behind down to Barnes & Noble. My father read it and loved it. I suspect I get the general idea, having heard Klein talk about it on Maher's show, and she's right. Having an agenda doesn't change her being right.

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 07:17:08 PM EST
[ Parent ]

I'm reading it right now (4.00 / 2)

I'm about halfway through, and I keep on learning new things, and I cannot really point yet to really partial accounts of stuff I know.

I'm planning to go back to the reviews in the FT and the Economist I saw a while back and do a compare.

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Sat May 10th, 2008 at 06:49:11 AM EST
[ Parent ]

Re: I'm reading it right now (none / 0)

I think the eXile did a review too. ;)

"Pretending that you already know the answer when you don't is not actually very helpful." ~Migeru.

by poemless on Mon May 12th, 2008 at 02:19:18 PM EST
[ Parent ]

Hey cool - the economic crisis is already over! | 52 comments (52 topical, 0 editorial, 0 hidden)

Top Diaries

More Status Quo please - for now

Bethlehem Lies In Palestine

Full Circle from Baghdad to Damascus

The Really Hard Work Starts Now

Energy (and Other) Events Monthly - 2024

The Irish general election draws near

Recent Diaries

Bethlehem Lies In Palestine

Full Circle from Baghdad to Damascus

Turks and Sauds to Install Sunni Terror in Damascus, Syria -...

More Back-Stabbing in the New Middle East

#WeAreNATO v Rest of the World

The Really Hard Work Starts Now

US Syrian Quagmire - A Second Life

More Status Quo please - for now

The Arab States Are Faced with Virulent Zionism in Israel

December 2024

Next Step An Integrated, Sovereign Europe

Making the Europe and BreXit Trump Proof ...

Energy (and Other) Events Monthly - 2024

Not A Permanent Ceasefire Lebanon-Israel

Clash of Empires - Crossroads @ Middle East

City Agriculture - November 26, 2024

Harry Truman: 'The Buck Stops Here'

German Election False Promises, Lack of Vision

EU Patriots, Hudson, VDL: ICC Arrest Warrants

Wilderism Hate Mongering, Now ICC Troublemaker

Occasional Series