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Politics : View from the Center and Left
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To: Sam who wrote (282252)11/6/2015 11:49:49 AM
From: Steve Lokness  Read Replies (1) of 541842
 
Yup, every economist in the world, every decision by leaders, every economy is wrong - except that envisioned by Krugman. Krugman however consistently misses the macro changes (or ignores them). He has blinders on when it comes to demographics as macro changes in demographics impacts economies (Japan and mush of Europe). He seems to miss the changes in the world brought on by trade agreements that have messed up usual incentives in an economy (third world countries). And especially for America's economy he again seems to have blinders on when he can't seem to get that one of the biggest advantages to America was our immense untapped natural resources; forest, oil, minerals. The easy stuff here is now ......gone! So we are increasingly moving to a service economy. Not bad - just new. Just different.

Our government has not slashed spending! It has had a massive stimulus for the past 15 years. It is called Homeland Security/Iraq/Afghanistan. Whether you are spending money building a bridge in Kentucky or are using that same amount of money to build bombs or military hardware or new aircraft - the money has the same effect in the economy. It creates jobs. If instead of spending $43,000,000 for a gas station in Afghanistan, we built a new bridge in Kentucky - we would all better off. AND we should increase the taxes on the rich to pay for it.

hereandnow.wbur.org
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