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Politics : The Trump Presidency -- Ignore unavailable to you. Want to Upgrade?

To: Alex MG who wrote (3680)	12/27/2016 4:03:59 PM
From: Steve Lokness	Read Replies (2) \| Respond to of 361669

You're baiting me aren't you Alex. Do you have an interest to discuss - or do you just want to argue? I put two from bentways thread on ignore today, I have no problem making it three. I've explained the lie many times, but I'm okay explaining it again. Krugman was more than a little vocal when Obama proposed the stimulus plan to get us out of the deplorable economic morass that Bush had put us in. Most were concerned that the stimulus that Krugman said we HAD to have, would provide such a deficit that the Krugman argument was largely ignored. ............But Krugman said if his plan - which was about three times the size of Obama's - was NOT enacted that the economy was doomed to slip into a deflationary spiral. He didn't claim it was possible it would spin into the deflationary spiral - he said it most definitely would. Well, with the advantage of hindsight we now know that was a lie. Those on epicure's page renounced my suggestion that Krugman was wrong and consistently made the claim that we were doomed because Krugman knew all - he had won a Nobel Prize afterall. No way could he be wrong. Krugman also consistently made the claim back then that we would go down the same rabbit hole that Japan had. Japan's mistake being they never tried to stimulate enough. An argument that is completely bogus. What Krugman was unwilling to accept early on is that Japan's situation was unique in that they are all old with a declining population. Japan has indeed stimulated, and at times since Krugmans argument have stimulated in ways Krugman has approved of - and YET, Japan's economy still remains stuck. It is all a whole bit more complicated than saddling future populations with debt levels that push down the economy for people not yet born.