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To: Oblomov who wrote (76798)	3/24/2008 9:01:10 PM
From: Elroy Jetson	Read Replies (2) \| Respond to of 116555

For a guy who likes Milton Friedman I can't imagine what you're complaining about. Friedman claimed that the Great Depression was caused by the Federal Reserve not increasing the "money supply" rapidly enough. So Ben Bernanke is merely following Friedman and Schwartz's "Conservative" "Nobel Prize" winning advice to the letter by wildly expanding the money supply to offset a decline in monetary velocity caused by well-founded fear of losses . . . . and yet you're complaining. I'm confused. I have long known Milton Friedman to be a dangerous quack on par with loony-toons like David Stockman who provided the false basis for Ronald Reagan's thoroughly disproved ideas that "lowering taxes increase growth and government revenues" and "debt doesn't matter". Perhaps you too are ready to accept this obvious reality. The concept which is common to all of these "Conservative" ideas is magical-thinking, aka getting something for nothing. A concept which would have left Republicans like Dwight Eisenhower gasping in disbelief. en.wikipedia.org A practical example better known to many Republican business owners and voters is "I like welfare, I deserve more, and I want it right now -- and it's not welfare when I receive it." Until Republicans get back to reality and clean house to eliminate the magical-thinking ding-a-lings in their midst I don't favor their chances of winning many elections or running businesses which don't rely upon government patronage and or fraud for success. .

To: Oblomov who wrote (76798)	3/25/2008 9:32:58 AM
From: koan	Read Replies (1) \| Respond to of 116555

Oblobmov: Krugman wouldn't know a conservative if one fell in his lap." So there is the difference in our thinking. I have studied conservatives all of my life (in polotics for 30 years (I am a liberal) and he knows EXACTLY what a conservative is, as do I. Krugman' economic books are used by as school books throughout the world. Writes for the New York time, PHD MIT, taught at many top universites, now at Princeotn I think and world recognized smart man! I have read his stuff for years and I know that stuff pretty well myself. Paul Krugman is right on!! Abouth both economics and conservatives. Too bad you cannot see it. Maybe too much math and not enough liberal arts. Economics is as much a social science as a hard science. I think Paul Krugman is one of the smartest and most honest guys in the country! Wikopedia: "Paul Robin Krugman (born February 28, 1953) is an American economist, columnist, author, and intellectual. He is professor of economics and international affairs at Princeton University, and is also a columnist for The New York Times, writing a twice-weekly op-ed for the newspaper since 2000. Krugman is well known in academia for his work in trade theory, which provides a model in which firms and countries produce and trade because of economies of scale and for his textbook explanations of currency crises and New Trade Theory. He was a critic of the "New Economy" of the late 1990s. Krugman also criticized the fixed exchange rates and Thailand before the 1997 East Asian financial crisis, and of investors such as Long-Term Capital Management that relied on the fixed rates just before the 1998 Russian financial crisis. Krugman is generally considered a neo-Keynesian [1], with his views outlined in his books such as Peddling Prosperity. His International Economics: Theory and Policy (currently in its seventh edition) is a standard textbook on international economics without calculus. In 1991 he was awarded the John Bates Clark Medal by the American Economic Association. He is among the 50 best economists in the world according to IDEAS/RePEc. Krugman is known to be pronouncedly liberal in his political views, and is an ardent critic of the George W. Bush administration and its foreign and domestic policy. Unlike many economic pundits, he is also regarded as an important scholarly contributor by his peers.[2][3] He has written over 200 scholarly papers and 20 books[4]—some academic, and some written for the layperson.