Why Economists Failed to Anticipate the Financial Crisis

Posted by Matt in January 8th, 2010 | no comment

Published in Economy, 15 Months, Asset Prices, Ben Bernanke, Capitalism, Collapses, Consumption Binge, Debt Problem, Earnings, Economists, Economy, Federal Reserve, Federal Reserve Board, Financial Crisis, Gdp, Insanity, Lehman Brothers, Liquidity, Manipulation, Massive Amounts, Ny Times, Paul Krugman, Ponzi Scheme, Reason, Rocket Science, Unsustainable Growth, Zero Rates

This economic Ponzi scheme is what I have labeled the asset-based economy. As with all things Ponzi, it must come to a spectacularly bad end. One can only Inflate asset prices to perpetuate a debt-fuelled consumption binge so far. At some point, the Ponzi scheme collapses. And we are nearing that point. We still have [...]

Paul Krugman – That 1937 Feeling – NYTimes.com

Posted by Matt in January 5th, 2010 | no comment

Published in Economy, Bush Tax Cuts, Columnist, Crutches, Economy, Great Depression, Great Mistake, Monetary Policy, Nytimes, Paul Krugman, People, Recession, Roosevelt Administration, Stimulus

The economy appears to be looking up but could fall right back into another recession just like in 1937. The biggest concern is that the Bush tax cuts will expire in 2011, and we can look forward to the biggest tax increase in history. If you wanted to ensure another recession then letting the [...]

The next great crisis: America’s debt

Posted by Matt in June 9th, 2009 | no comment

Published in Economy, U.S., Barack Obama, Collapse, Combatants, Common Names, Debt Crisis, Decade, Economy, Federal Debt, First Names, Nobel Laureate In Economics, Passion, Path, Paul Krugman, Paul Ryan, Political Poles, Pundit, Rapid Increase, Republican Congressman, Stimulus

At this rate, your share of the load will be $155,000 in a decade. How chronic deficits are putting the country on a path to fiscal collapse.
Normally Paul Krugman, the liberal pundit and Nobel laureate in economics, and Paul Ryan, a conservative Republican congressman from Wisconsin, share little in common except their first names and [...]

The Global Financial Crisis: How bad will it get?

Posted by Matt in April 21st, 2009 | no comment

Published in Economy, Financial, Economic Theory, Economists, Economy, Financial Crisis, Global Financial Crisis, Great Depression, Joseph Stiglitz, Paul Krugman, People, Real World, Relevance, Type Answers, Unemployment

Now as to how bad it’s going to get – you have to know what caused it in the first place to have any idea there. And this is again why you tend to get, “I don’t know” type answers from most economists—and that goes right up to and including people like Joseph Stiglitz and [...]

The End Of Globalization – World

Posted by Matt in November 16th, 2008 | no comment

Published in Economy, Trade, Bailout, Bank Debt, Capitalism, Caring Economy, Consequences, East Asia, Economic Globalization, Economic Reformer, Economist, Financial Crises, Financial Liberalization, Globalization, Hugo Chavez, Imf, Latin-America, Lending Institutions, Market Economy, Paul Krugman, President Hugo Chavez, Private Lenders, Privatization

The global financial machine has ground perilously close to a halt. This timely film explores what went wrong with economic globalization. How could the financial world have miscalculated so badly?
We chart financial liberalization in East Asia, privatization in Latin America, the reckless transition to capitalism in Russia, and China’s more cautious evolution to a market [...]