I am shocked, shocked, to find out Krugman was wrong...

[Raoul_Luke]

No, the CBO says I am right. Why do you keep repeating lies?

According to the CBO, spending increased by 24 percent from fiscal year 2008 to 2009 — the largest increase since 1952.

Much of that increase is the result of big-ticket items enacted in 2008, including $133 billion for the Troubled Asset Relief Program (TARP) and $291 billion for bailing out Fannie Mae and Freddie Mac. The Obama administration tacked on an additional $115 billion in stimulus spending in 2009. Other big spending items include a bill to fund the wars in Iraq and Afghanistan. On top of that, tax revenue is down about $400 billion, because individual income and corporate profits have dropped due to the economic downturn.

https://www.politifact.com/truth-o-meter/statements/2009/oct/22/freedom-project/freedom-project-claims-deficit-biggest-history-and/

I'm not arguing with the CBO, which assigns budgets to years, not to Presidents. So yes, spending increased by 24% between 2008 and 2009. Bush got a "continuing resolution" in 2008 before he left to keep the government opening. Then Obama added to it before SIGNING the 2009 Budget into law. By any reasonable interpretation, that makes the 2009 budget his, not Bush's. After all, he had the opportunity to cut it, and instead added to it (according even to YOUR source). This isn't rocket science - it's simple logic. You simply cannot say Obama "saved the economy by 'heroic' Keynesian 'stimulus' spending" while at the same time claiming he "didn't increase spending." The two statements just don't add up (like all liberal math, unfortunately).

 

[Bugsy McGurk]

Fine, let's stick with Krugman's Nobel for Economics. I will sharpen my criticism. He's too much of a partisan, babbling fool to get a prize. Look how his TDS affected him. It was so bad, he made silly predictions that hopefully embarrass him at least a little bit.

https://www.nytimes.com/interactive/projects/cp/opinion/election-night-2016/paul-krugman-the-economic-fallout

"Global recession, with no end in sight"... LOLOLOLOLOLOL. The dude gets hysterical. I want my Nobel Prize Winners to be rational thinkers. The way Nobel is headed, @ilovejim could win a Nobel prize.

Sheesh, Krugman is a gawd damned Nostradamus:

“In fact, you can bet that the Fed will lose its independence, and be bullied by cranks.”

 

[Raoul_Luke]

Stimulus was a hand out to leftists nationwide.
Printing money for the 1%ers
Cheap Money for the 1%ers as well
Food stamps, disability & public assistance
Telling people unemployment was 'funemployment'
Cash for junking a perfectly good car- put used cars out of reach for the poor


A smoke and mirrors 'recovery'.

Which produced a smoke and mirrors "recovery:"

 

[Deleted member 21794]

Sheesh, Krugman is a gawd damned Nostradamus:

“In fact, you can bet that the Fed will lose its independence, and be bullied by cranks.”

Why do you think the fed has lost its independence?

 

[Bugsy McGurk]

Why do you think the fed has lost its independence?

Don’t play dumb.

At least I hope you’re playing.

;-)

 

[Bugsy McGurk]

Which produced a smoke and mirrors "recovery:"

View attachment 43198

Otherwise known as a record shattering streak of jobs growth and economic growth.

;-)

 

[Deleted member 21794]

Don’t play dumb.

At least I hope you’re playing.

;-)

OK, no problem. Just show me an example of them being bullied into a specific action they wouldn't have taken otherwise.

 

[Bugsy McGurk]

OK, no problem. Just show me an example of them being bullied into a specific action they wouldn't have taken otherwise.

It’s in process. They will be lowering rates shortly, as demanded by Dear Leader Trump, after his relentless campaign of bullying the Fed into doing so.

 

[Raoul_Luke]

Sheesh, Krugman is a gawd damned Nostradamus:

“In fact, you can bet that the Fed will lose its independence, and be bullied by cranks.”

So even he knew they were a bunch of idiots who were blindly driving the economy into the ditch.

 

[Bugsy McGurk]

So even he knew they were a bunch of idiots who were blindly driving the economy into the ditch.

Said the Trump sycophant, after living through a record shattering streak of jobs growth and economic growth.

;-)

 

[Deleted member 21794]

It’s in process. They will be lowering rates shortly, as demanded by Dear Leader Trump, after his relentless campaign of bullying the Fed into doing so.

Translation: Look, there goes a squirrel!

 

[Raoul_Luke]

It’s in process. They will be lowering rates shortly, as demanded by Dear Leader Trump, after his relentless campaign of bullying the Fed into doing so.

And you, of course, in your infinite wisdom, think they should raise rates?

https://www.zerohedge.com/news/2019-06-14/how-central-banks-are-losing-credibility-three-charts

https://www.zerohedge.com/news/2019-06-14/morgan-stanleys-business-conditions-index-just-suffered-biggest-one-month-decline

https://www.bnnbloomberg.ca/u-s-already-in-recession-fed-will-cut-interest-rates-back-to-zero-david-rosenberg-1.1273419

https://www.nbcdfw.com/news/national-international/Americans-Say-Financial-Situation-Worse-Great-Recession-511297931.html

 

[Bugsy McGurk]

Translation: Look, there goes a squirrel!

Huh?

Very strange post.

 

[Raoul_Luke]

Said the Trump sycophant, after living through a record shattering streak of jobs growth and economic growth.

;-)

That shatters records alright, for worst recovery ever...

 

[Nutty Cortez]

Otherwise known as a record shattering streak of jobs growth and economic growth.

;-)

Record shattering ? With the largest amount of Americans NOT working ? And the smallest 'recovery' since WW2 ?

Tell us how that's record Breaking again ?

Oh, record breaking bad, got it ! Thanks !

 

[Bugsy McGurk]

And you, of course, in your infinite wisdom, think they should raise rates?

https://www.zerohedge.com/news/2019-06-14/how-central-banks-are-losing-credibility-three-charts

https://www.zerohedge.com/news/2019-06-14/morgan-stanleys-business-conditions-index-just-suffered-biggest-one-month-decline

https://www.bnnbloomberg.ca/u-s-already-in-recession-fed-will-cut-interest-rates-back-to-zero-david-rosenberg-1.1273419

https://www.nbcdfw.com/news/national-international/Americans-Say-Financial-Situation-Worse-Great-Recession-511297931.html

Either raised or remain as is. Trump claims the economy is roaring. The “best economy ever.” Nonsense, of course, but the economic growth Trump inherited from Obama does continue unabated. Bullying the Fed into reducing rates under such conditions is economic insanity.

 

[Raoul_Luke]

Either raised or remain as is. Trump claims the economy is roaring. The “best economy ever.” Nonsense, of course, but the economic growth Trump inherited from Obama does continue unabated. Bullying the Fed into reducing rates under such conditions is economic insanity.

I thought Trump was an idiot, so why are you agreeing with him on the economic conditions? Wait, on second thought, never mind...

 

[Bugsy McGurk]

Record shattering ? With the largest amount of Americans NOT working ? And the smallest 'recovery' since WW2 ?

Tell us how that's record Breaking again ?

Oh, record breaking bad, got it ! Thanks !

I already told you - Obama oversaw a record shattering streak of jobs growth and economic growth. Pay attention.

When we have GOP presidents we measure the depth of their recessions. When we have Dem presidents we have GOP cultists carping that the recoveries under Dem presidents “weren’t good enough.”

So it goes with cultists.

 

[Bugsy McGurk]

I thought Trump was an idiot, so why are you agreeing with him on the economic conditions? Wait, on second thought, never mind...

I just disagreed with his descriptions of our economic conditions and you ask me why I agree with him.

That was especially deplorable.

 

[Raoul_Luke]

I just disagreed with his descriptions of our economic conditions and you ask me why I agree with him.

That was especially deplorable.

So then you agree that the economy is poor and lower interest rates are an inevitability? Every time you post I am reminded of this classic scene: