Showing posts with label Paul Krugman. Show all posts
Showing posts with label Paul Krugman. Show all posts

Wednesday, April 22, 2009

Evil

Let’s say this slowly: the Bush administration wanted to use 9/11 as a pretext to invade Iraq, even though Iraq had nothing to do with 9/11. So it tortured people to make them confess to the nonexistent link.

There’s a word for this: it’s evil.


Paul Krugman

Sunday, November 16, 2008

Krugman Explains the Depression to George Will



From firedoglake, which headlines this clip "Krugman Schools Will On the Great Depression". The arrogance of George Will, to spout conservative nonsense about the economy while sitting next to a Nobel-Prize winning economist.

Monday, October 13, 2008

Paul Krugman Wins Nobel Prize for Economics


NYTimes: Krugman Wins Nobel Prize for Economics

As we say here in Massachusetts, he's wicked smaht, and now he has an extra $1.4 million dollars to keep out of the stock market. Congratulations Paul Krugman.

Monday, October 06, 2008

"[T]he McCain plan would do for health care what deregulation has done for banking."

And Paul Krugman is terrified:

Paul Krugman, NYTimes: Health Care Destruction

Mr. McCain [] wants to blow up the current system, by eliminating the tax break for employer-provided insurance. And he doesn’t offer a workable alternative.

Without the tax break, many employers would drop their current health plans. Several recent nonpartisan studies estimate that under the McCain plan around 20 million Americans currently covered by their employers would lose their health insurance.

As compensation, the McCain plan would give people a tax credit — $2,500 for an individual, $5,000 for a family — that could be used to buy health insurance in the individual market. At the same time, Mr. McCain would deregulate insurance, leaving insurance companies free to deny coverage to those with health problems — and his proposal for a “high-risk pool” for hard cases would provide little help.

So what would happen?

The good news, such as it is, is that more people would buy individual insurance. Indeed, the total number of uninsured Americans might decline marginally under the McCain plan — although many more Americans would be without insurance than under the Obama plan.

But the people gaining insurance would be those who need it least: relatively healthy Americans with high incomes. Why? Because insurance companies want to cover only healthy people, and even among the healthy only those able to pay a lot in addition to their tax credit would be able to afford coverage (remember, it’s a $5,000 credit, but the average family policy actually costs more than $12,000).

Meanwhile, the people losing insurance would be those who need it most: lower-income workers who wouldn’t be able to afford individual insurance even with the tax credit, and Americans with health problems whom insurance companies won’t cover.

And in the process of comforting the comfortable while afflicting the afflicted, the McCain plan would also lead to a huge, expensive increase in bureaucracy: insurers selling individual health plans spend 29 percent of the premiums they receive on administration, largely because they employ so many people to screen applicants. This compares with costs of 12 percent for group plans and just 3 percent for Medicare.

In short, the McCain plan makes no sense at all....the McCain plan would do for health care what deregulation has done for banking. And I’m terrified.

Monday, September 29, 2008

I Hate The Bailout Bill - But I Support It

Yes, the bailout bill sucks. Yes, it sucks that Congress is going to throw $5000 of my hard-earned money at the Wall Street thieves that the Bush Administration let run wild over the past eight years.

But I support the bill. Why? Two reasons, mainly:

(1) I don't have a traditional pension, I have a 401(k) that is invested in the market, in bonds and stocks, in mutual funds and bond funds. I had a traditional pension 25 years ago, when my firm hired a smart MBA from Dartmouth who read the screw-the-workers financial papers and persuaded my employers that it would be cheaper to move the firm's pension plan into a 401(k) plan. Cheaper for them. Much more risky for me. So now I am exposed to the market. I'm in the market.

The bailout will cost me $5000, but a 20% drop in the market will cost me many times that.

(2) I don't know anything about macroeconomics except for a class I took in 1976. But Paul Krugman, an economist I respect, supports the plan. That's enough for me.

Side note, I turned on C-Span this morning to see my Congressman Jim McGovern running the House session from the floor for the Democrats. This makes sense; he's wildly popular in this liberal district and there's no way he loses his job for publicly supporting this hated bill. Plus he's got guts and does what he thinks is right.

Monday, September 22, 2008

Obermann: McCain v. McCain



With Paul Krugman for analysis of the bailout crisis and McCain's panicked position(s).

Sunday, September 21, 2008

Krugman on Maher

New York Times economist and columnist Paul Krugman on Bill Maher's Real Time last night. Dire.

Monday, September 15, 2008

Monday, December 17, 2007

Edwards Gets Endorsements

Newsweek: Cover Story

I'm still bitter about 2004. Bitter that John Kerry who spent a year proclaiming that he would make sure that every vote counted, turned tail and let the Republicans steal Ohio. He had millions in the bank and didn't stay and fight, just meekly accepted the rigged result. And I guess I blame Edwards for that some, too. He was on the ticket and he let us down too. I have more sympathy for John E. Just as that decision was being made, his wife Elizabeth was being diagnosed with breast cancer. He had other things on his plate. But I'm also bitter about the way Edwards laid down in his 2004 debate with Darth Cheney. He was just too nice.

And while he was in the Senate he voted for the Bush's bullshit war. (Was I the only American in 2002 standing at the kitchen sink at night yelling at the radio, THERE ARE NO WEAPONS OF MASS DESTRUCTION! THEY'RE LYING TO YOU! I don't think so.) Obama, on the other hand, while he wasn't in the Senate, gave a speech before the war calling it 'a dumb war'. Perfect. So, in sum, that's why I have been swayed from Edwards to Obama.

Obama has disappointed me recently. All this equivocation, talking about compromising with Republicans, attacking Paul Krugman, and adopting right wing talking points about Social Security. Right now based on rhetoric alone I should be voting for John Edwards. I completely agree with his take on corporate power. We need a president who realizes that he will have to FIGHT the Republicans and the media for every inch of ground as we take our country back from the Bush brink of disaster. You can't compromise when your opponent is using scorched earth tactics. You must fight just as hard as your opponent, and fight every battle.

I'm still in the Obama camp. I think his message of hope and change is powerful enough to win no matter what mud the Rethugs throw at him before November. (And I must admit my northern prejudice, I hate John Edwards's southern accent. It sounds dumb to my eastern ear.) I don't think my vote here in Massachusetts will matter. I think we'll have a nominee long before the Massachusetts primary on Super Tuesday, February 5th, 2008.

John Edwards picked up some important endorsements today. The first is outright: the Iowa first lady, Mari Culver, has endorsed him.

The second endorsement is implied. Paul Krugman eviscerates Obama and praises Edwards in his column today.

Over the last few days Mr. Obama and Mr. Edwards have been conducting a long-range argument over health care that gets right to this issue. And I have to say that Mr. Obama comes off looking, well, naïve.

[]

[I]t’s actually Mr. Obama who’s being unrealistic here, believing that the insurance and drug industries — which are, in large part, the cause of our health care problems — will be willing to play a constructive role in health reform. The fact is that there’s no way to reduce the gross wastefulness of our health system without also reducing the profits of the industries that generate the waste.

As a result, drug and insurance companies — backed by the conservative movement as a whole — will be implacably opposed to any significant reforms. And what would Mr. Obama do then? “I’ll get on television and say Harry and Louise are lying,” he says. I’m sure the lobbyists are terrified.

As health care goes, so goes the rest of the progressive agenda. Anyone who thinks that the next president can achieve real change without bitter confrontation is living in a fantasy world.

Which brings me to a big worry about Mr. Obama: in an important sense, he has in effect become the anti-change candidate.

If I really had to vote on January 3rd in Iowa or on January 8th in New Hampshire, I'd have a hard time making up my mind. Edwards. Obama. Edwards. Obama. After reading Krugman, I lean Edwards.

Friday, November 16, 2007

Krugman to Obama: There. Is. No. Crisis.


Paul Krugman, NYTimes: Played for a Sucker

Lately, Barack Obama has been saying that major action is needed to avert what he keeps calling a “crisis” in Social Security — most recently in an interview with The National Journal. Progressives who fought hard and successfully against the Bush administration’s attempt to panic America into privatizing the New Deal’s crown jewel are outraged, and rightly so.

[]

But the “everyone” who knows that Social Security is doomed doesn’t include anyone who actually understands the numbers. In fact, the whole Beltway obsession with the fiscal burden of an aging population is misguided.

As Peter Orszag, the director of the Congressional Budget Office, put it in a recent article co-authored with senior analyst Philip Ellis: “The long-term fiscal condition of the United States has been largely misdiagnosed. Despite all the attention paid to demographic challenges, such as the coming retirement of the baby-boom generation, our country’s financial health will in fact be determined primarily by the growth rate of per capita health care costs.”

How has conventional wisdom gotten this so wrong? Well, in large part it’s the result of decades of scare-mongering about Social Security’s future from conservative ideologues, whose ultimate goal is to undermine the program.

[]

I don’t believe Mr. Obama is a closet privatizer. He is, however, someone who keeps insisting that he can transcend the partisanship of our times — and in this case, that turned him into a sucker.

Mr. Obama wanted a way to distinguish himself from Hillary Clinton — and for Mr. Obama, who has said that the reason “we can’t tackle the big problems that demand solutions” is that “politics has become so bitter and partisan,” joining in the attack on Senator Clinton’s Social Security position must have seemed like a golden opportunity to sound forceful yet bipartisan.

But Social Security isn’t a big problem that demands a solution; it’s a small problem, way down the list of major issues facing America, that has nonetheless become an obsession of Beltway insiders. And on Social Security, as on many other issues, what Washington means by bipartisanship is mainly that everyone should come together to give conservatives what they want.

We all wish that American politics weren’t so bitter and partisan. But if you try to find common ground where none exists — which is the case for many issues today — you end up being played for a fool. And that’s what has just happened to Mr. Obama.

Friday, June 08, 2007

So Appropriate on "Paris Hilton Goes Back to Court" Day

Media crews and the paparazzi wait outside hotel heiress Paris Hilton's home, in the West Hollywood area of Los Angeles, June 7, 2007. (Gus Ruelas/Reuters)

I just turned on the TV to check the weather report and cable news channels have gone Paris Hilton mad. Why didn't I think of dropping my law day job, getting a little plastic surgery, and going on TV? I could be on MSNBCNNBCSBC right now fawning breathlessly over this non-story. Will Paris get to court on time? Will she get sent back to -- horrors -- jail? Meanwhile, the G-8 Summit addressing global warming and the fate of the planet is being ignored. The Iraq Clusterfuck is being ignored; how could this be, what happened to journalism?

Paul Krugman's column today is essentially the obituary for journalism. You know what I say: Journalism is dead; long live the corporate media. The corporate infotainment, bread-and-circus media is the cockroach that will survive us all.

NYTimes: Paul Krugman, Lies, Sighs and Politics (TimesSelect wall; also here and here.)

In Tuesday’s Republican presidential debate, Mitt Romney completely misrepresented how we ended up in Iraq. Later, Mike Huckabee mistakenly claimed that it was Ronald Reagan’s birthday.

Guess which remark The Washington Post identified as the “gaffe of the night”?

Folks, this is serious. If early campaign reporting is any guide, the bad media habits that helped install the worst president ever in the White House haven’t changed a bit.

You may not remember the presidential debate of Oct. 3, 2000, or how it was covered, but you should. It was one of the worst moments in an election marked by news media failure as serious, in its way, as the later failure to question Bush administration claims about Iraq.

Throughout that debate, George W. Bush made blatantly misleading statements, including some outright lies — for example, when he declared of his tax cut that “the vast majority of the help goes to the people at the bottom end of the economic ladder.” That should have told us, right then and there, that he was not a man to be trusted.

But few news reports pointed out the lie. Instead, many news analysts chose to critique the candidates’ acting skills. Al Gore was declared the loser because he sighed and rolled his eyes — failing to conceal his justified disgust at Mr. Bush’s dishonesty. And that’s how Mr. Bush got within chad-and-butterfly range of the presidency.

Monday, April 09, 2007

The Corporate Media Slimes Nancy Pelosi

U.S. House Speaker Nancy Pelosi (D-CA) shakes hands with Syrian Foreign Minister Walid al-Moualem at her arrival to Damascus airport April 3, 2007. REUTERS/Khaled al-Hariri

There was nothing wrong or unprecedented about Nancy Pelosi's bipartisan delegation's visit to Syria. The corporate media was happy to carry the Bush Administrations's slurs about it, though. Paul Krugman deconstructs the media dance. One step, Bushco; two step, Fox; three step, CNN; four step, Washington Post. Do-si-so with your partner, round and round.

Paul Krugman, NYTimes: Sweet Little Lies (TimesSelect wall; also here and here).

Wednesday, March 07, 2007

Privatizing Walter Reed: Rich Get Richer, Veterans Get Screwed


I've never understood the premise of privatization. Why does adding a profit motive to a third party improve government services? Answer: It doesn't. It just allows private companies to pay workers less and give them poorer benefits to do the same job, then transfers the cost savings into the pockets of the owners of the private company. And some of those companies also cut the numbers of workers doing the work. Like IAP Worldwide, which has replaced 300 federal support services workers at Walter Reed Army Medical Center with 50 private employees. The result? Dan Quayle, John Snow and Al Neffgen get richer. Who got poorer? The workers who now work for IAP don't make the wages of federal workers, and don't have equivalent benefits. But most horrifying, the maimed and brain-damaged soldiers at Walter Reed are suffering because our government chose to put money into the pockets of their rich friends rather than put money into caring for the veterans injured in their immoral, illegal war. Sickening.

Metrowest Daily News (Framingham, MA): Editorial: Privatizing Walter Reed

As a letter from the House committee investigating Walter Reed stated, "it would be reprehensible if the deplorable conditions were caused or aggravated by an ideological commitment to privatize government services regardless of the costs to taxpayers and the consequences for wounded soldiers.

The thread of privatization and cronyism runs through this administration's disasters: from Abu Ghraib, where private contractors had a role in intelligence-gathering, to New Orleans, where a major city paid the price after political appointees replaced experienced emergency service professionals at FEMA.

Palm Beach (FL) Post editorial: Failures at Walter Reed expose VA system failure

Incredibly, despite the rising numbers of those who will need care, the White House is proposing a VA budget that is essentially flat from last year. The administration wants to cut money for prosthetic research and provide inadequate financing for the backlog of cases that only will grow. Yet on Tuesday, Mr. Bush called on Congress to "fund our war fighters." Department of Veterans Affairs Secretary Jim Nicholson, whose "qualification" was running the Republican National Committee, has compounded the administration's indifference with insulting rhetoric. Asked about the 200,000-plus who have tried to get care, Mr. Nicholson says, "A lot of them come in for dental problems."

YahooNews: Deborah Burger, HuffPo: We're All at Walter Reed

It starts with brutally substandard care and abandonment of tens of thousands of veterans, not just at Walter Reed, but at VA hospitals and clinics around the country, as the Washington Post has revealed in ghastly detail.

Second, starving the VA. Since 2001, as Paul Krugman reported in the New York Times, federal allocations for veterans medical care lag behind overall healthcare spending, rather stunning when you consider we have sent 1.5 million of our young men and women to Iraq and Afghanistan and over 184,000 have sought VA care after serving.

There's more. Due to funding cuts, some 263,257 veterans were denied enrollment for Veterans Administration health coverage in 2005. To cut costs, enrollment has been suspended for those deemed not having service-related injuries or illnesses. So much for the guarantee of lifetime healthcare. And, if all the other indignities were not enough, some Walter Reed patients had to buy their own meals.

The final piece of this unholy troika is privatization. As the Army Times notes, Walter Reed handed a five-year $120 million contract to a private company run by an ex-Halliburton executive. The contracting out of support services was followed by a mass exodus of support personnel.

Christian Science Monitor: How decay overtook Walter Reed
The problems at the US Army hospital show how strained military resources have become.

Monday, March 05, 2007

Walter Reed Is The Direct Result of Republican Policy Choices

It will be important to keep the media on track on this story. I heard Jim Miklaszewski on Imus this morning claiming this is just how things get done by the military bureaucracy. Not so. This is not a story about government incompetence. As Paul Krugman points out today, improvements in the Veterans Administration during the Clinton years made the VA one of the best health care systems in the country. Government did that. Good, responsible government dedicated to using the power of the purse wisely. Democrats in charge. People who believe that government works.

The problem with Walter Reed and military medical care is not government incompetence. It's the Bush Administration's Republican attack upon government, in their effort to fulfill Grover Norquist's desire to shrink the federal government until it can be drowned in a bathtub. These are deliberate policy choices, not just incompetence. They have attacked good government from within. The functioning system at Walter Reed and at Veterans Administration facilities around the country has been attacked with the weapon of privatization. Why? Partly, so rich corporations like Halliburton can continue to rake in billions in profits. But it is also part of their insidious attack upon government, to make government look as bad as they always claim it is. They are trying to destroy our government from within. This isn't just incompetence. It's their policy. Starve the federal government, then claim government itself doesn't work and privatize everything.

They must be stopped.

WaPo: 'It Is Just Not Walter Reed'
Soldiers Share Troubling Stories Of Military Health Care Across U.S.


Paul Krugman, NYTimes: Valor and Squalor (TimesSelect wall; also here and here).

AirForceTimes: Soldiers at Walter Reed Building 18 moved


Steve Young, OpEdNews: Johnny Gets His Gun Again: Walter Reed Reveals Right's Bloody Secret


WaPo: Walter Reed Hearing to Put Spotlight on Kiley's Leadership

Political Affairs Magazine: Privatization Behind Disaster at Walter Reed Hospital

Monday, January 08, 2007

Headline of the Day: Quagmire of the Vanities









Paul Krugman, New York Times: Quagmire of the Vanities

I began writing about the Bush administration’s infallibility complex, the president’s Captain Queeg-like inability to own up to mistakes, almost a year before the invasion of Iraq. When you put a man like that in a position of power — the kind of position where he can punish people who tell him what he doesn’t want to hear, and base policy decisions on the advice of people who play to his vanity — it’s a recipe for disaster.

It's a TimesSelectWall article; you can also find it at Welcome to Pottersville, Poltika Erotika, and Wealthy Frenchman, among others.

Friday, January 05, 2007

Blogtopia* Roundup, Friday January 5, 2007


On BoingBoing, news that five words slipped into the last Pentagon budget bill will make U.S. military contractors subject to the Uniform Code of Military Justice.

Honorary blogger Paul Krugman in today's New York Times says the Democratic Congress should first, un-privatize Medicare.

Professor Juan Cole links to the Diary of Saad Eskander, Director of the Iraq National Library and Archive. How horrible life is really like in Iraq today.

Glenn Greenwald reappears from writing his latest book to eviscerate the un-credible, full of shit right-wing bloggers and their incessant whining about media coverage of Iraq.

ThinkProgress has pictures of Rep. Keith Ellison (D-MN), our first Muslim congressman, being sworn in with his hand on a Koran published in 1764 which was once owned by Thomas Jefferson. I have it on scant authority that these pictures caused several wingnuts' heads to explode.

And, since We Love Lists,
(1)read Steve Gilliard's list of books to read so you don't sound like a stupid warblogger. Check out the recommendations in comments, too.
and
(2) check out World Changing's Ten Stories You May Have Missed by environmental journalist Alex Steffen.

Got to go for my walk, as it's near 60 degrees. Yesterday afternoon when I pulled into my driveway, I startled a bunny munching on the lawn, which is quite green. One of my neighbors planted bulbs yesterday. This is January?

Friday, December 08, 2006

Friday Round-Up, December 8, 2006

An empty pushchair amid the wreckage in West London. Photo sent in by Ian Carter. (bbc)

Great interview with President Al Gore in GQ. I really hope he runs. Remember Al? Against the war from the get-go? Smartest guy in the room? If somebody's got to mop up the Chimperor's excesses, I nominate Al.

The BBC has an article on how we are polluting the oceans with plastic. I'm moving from a 'recycle everything' mindset to a 'don't buy plastic if you don't need to' one. I do get odd looks in the grocery store when I spill my veggies out onto the conveyor belt without plastic bags, but so what.

Global warming news: Tornado strikes London yesterday, injuring 6 people and damaging up to 150 homes. Could have something to do with all this warm weather.

Go read Krugman: At the official link, or here, or here. As a person who screamed at her TV from 9/12/01 on at the fawning media coverage of C+ Augustus, the biggest catastrophe in U.S. history, it's nice to hear someone praise our side in the corporate media.

Tom Friedman, billionaire, has run out of Friedmans. Now he says, set a date and get out. A little late, Tommy boy. Who cares. He was wrong from the start. Why should we listen to any of these fools?

Sunil Gulati putting coal in my stocking: Jurgen Klinsmann issued a statement yesterday saying he is withdrawing his name from consideration as USMNT coach, after six months of talks. And Bob Bradley has been named interim coach. A good round-up of the sports press take here.

Friday, July 28, 2006

Krugman on Journamalism: 'Lies and Truth Get Equal Billing'


Paul Krugman, NYTimes: Reign of Error (TimesSelect Wall; full link at Welcome to Pottersville or Ed Strong)

The climate of media intimidation that prevailed for several years after 9/11, which made news organizations very cautious about reporting facts that put the administration in a bad light, has abated. But it’s not entirely gone. Just a few months ago major news organizations were under fierce attack from the right over their supposed failure to report the “good news” from Iraq — and my sense is that this attack did lead to a temporary softening of news coverage, until the extent of the carnage became undeniable. And the conventions of he-said-she-said reporting, under which lies and truth get equal billing, continue to work in the administration’s favor.

Whatever the reason, the fact is that the Bush administration continues to be remarkably successful at rewriting history. For example, Mr. Bush has repeatedly suggested that the United States had to invade Iraq because Saddam wouldn’t let U.N. inspectors in. His most recent statement to that effect was only a few weeks ago. And he gets away with it. If there have been reports by major news organizations pointing out that that’s not at all what happened, I’ve missed them.

It’s all very Orwellian, of course. But when Orwell wrote of “a nightmare world in which the Leader, or some ruling clique, controls not only the future but the past,” he was thinking of totalitarian states. Who would have imagined that history would prove so easy to rewrite in a democratic nation with a free press?


Of course, the press is no longer 'free'; it's owned by giant media conglomerates that profit from the war machine.

Monday, June 05, 2006

Will Congress Give Paris Hilton A Tax Break?

Congress poised to give her millions

Our economy is in a tailspin, the Iraq war is pouring money into the hands of private contractors and draining the treasury. What do Republicans want? Give the mega-rich another tax cut! Only makes sense if you are rich -- like the Bush Administration members who stand to save millions.

Paul Krugman, NYTimes: Shameless in the Senate

The Senate almost voted to repeal the estate tax last fall, but Republican leaders postponed the vote after Hurricane Katrina. It's easy to see why: the public might have made the connection between scenes of Americans abandoned in the Superdome and scenes of well-heeled senators voting huge tax breaks for their even wealthier campaign contributors.

But memories of Katrina have faded, and they're about to try again. The Senate will probably vote this week. So it's important to realize that there's still a clear connection between tax breaks for the rich and failure to help Americans in need.

Any senator who votes to repeal the estate tax, or votes for a "compromise" that goes most of the way toward repeal, is in effect saying that increasing the wealth of people who are already in line to inherit millions or tens of millions is more important than taking care of fellow citizens who need a helping hand.

[]

Who would benefit from this largess? The estate tax is overwhelmingly a tax on the very, very wealthy; only about one estate in 200 pays any tax at all. The campaign for estate tax repeal has largely been financed by just 18 powerful business dynasties, including the family that owns Wal-Mart.

[]

In the interest of stiffening those spines, let me remind senators that this isn't just a fiscal issue, it's also a moral issue. Congress has already declared that the budget deficit is serious enough to warrant depriving children of health care; how can it now say that it's worth enlarging the deficit to give Paris Hilton a tax break?

Full article: Ed Strong.

Sebastian Mallaby, WaPo: Reward for the Hereditary Elite . . .

It doesn't matter if you are liberal or conservative, Democrat or Republican. There is no possible excuse for doing what Congress is poised to do this week: Abolish the estate tax.

The federal government faces a future of expanding deficits. Thanks to the baby bust and medical inflation, spending is projected to rise by nearly 3 percent of gross domestic product by 2030, a growth equivalent to the doubling of today's Medicare program. What is the dumbest possible response to this? Take a source of revenue and abolish it outright.


fuzzy and blue: EstateTaxRepeal: GOP prays at lucre alter

[] Estate tax repeal would save the estate of Cheney between $13 to $61 million, according to the publicly available data on his net worth. It would save the estate of Rumsfeld between $32 to $101 million. The estate of retired Exxon Mobil chairman Lee Raymond would pocket a cozy $164 million. As for the late Sam Walton's kids, whose company already makes taxpayers foot the bill for the medical expenses of 1000s of its employees, the cost to the govt for not taxing their estates would run into the multiple billions. []