Economist Paul Krugman envisions a ‘pretty grim’ future in visit to Yale

Published: Wednesday, November 10, 2010

By Mary E. O’Leary, Register Topics Editor
moleary@nhregister.com

NEW HAVEN — In a visit to Yale University Tuesday, Nobel Prize-winning economist Paul Krugman had a unique suggestion for policy-makers, whom he feels have consistently used the wrong tactics in dealing with the economic slowdown.

“Increase NASA’s budget, so we can find another planet we can export to,” Krugman told students and faculty at Sprague Hall, where he had come to receive the Henry Elias Howland Memorial Medal for his academic contributions.

A professor at Princeton and twice-weekly columnist for the New York Times, Krugman has been warning for two years that we are headed for the same depressed economic state that Japan has been experiencing for the last 18 years, only with higher unemployment and an inferior safety net.

Like his columns, his answers to questions from students were pretty pessimistic but still delivered with humor.

Given the outcome of the mid-term elections last week, Krugman, an alumnus and former Yale teacher, said he has no hope for a policy response coming from Congress in the next two years, except over China’s undervalued currency.


in full: http://www.nhregister.com/articles/2010/11/10/news/doc4cda7cb515dfe218645610.txt?viewmode=fullstory

here are some positive signs.

problems with the policies that will be presented by Republicans to "fix" the economy.

or opinions by the majority of Americans. The majority of Ameircans want Republicans to focus on jobs. So far, they are focused on (1) making Obama a 1 term President; (2) Tax breaks for the Wealthy; (3) Investigating the President.

Obama will be busy fending off constant investigations by Congress. Issa has promised at least 240 over the next two years. The bully pulpit has no power if one side doesn't give a damn about the opinion of the majority. The only majority they care about is the majority who vote, which is about 40% of Americans.

voters who surpassed McCain's voters to elect Obama wanted a change..not just Democrats, but many moderate Republicans did as well.

Those Republicans in power now, I agree, they are out to destroy Obama but we knew that when he was elected.

The tax breaks for the wealthy is one of the most important issues Obama needs to educate Americans on. The bully pulpit
may be one of his last but most effective tools in fighting the House. His choice of economic advisers, if chosen wisely, can
help drive that message as well.

I believe a great deal depends on the strategies Obama employs considering the gains in the House by Republicans.

And Republicans ignored the will of he majority of Americans and obstructed everything.

And in 2010, they came roaring back into power to get Americans back to work. Then they set priorities that puts no one but a few lawyers to work.

The bully pulpit only works if the other side can be swayed by public opinion. It relies on a mostly neutral media, which hasn't existed since Carter left office. Republicans know that they have a solid 38% of the American Electorate who will vote for them no matter what. And they know that only rarely will the American electorate actually show up at the polls. And they know that the media hungry for profits, and with profit as their only motive, will serve conservatives.

The bully pulpit as a vehicle simply does not work in elections where partisans on both sides only care about getting a few independent voters away from their TVs to blindly vote for the side that scares them the most.

to ignore the majority of Americans and obstruct everything..that is what they do consistently.

Obama learned that truth the hard way these last two years. Take his causes to the people again, as he did in 2008, it is his
best chance imo.

He is going to have a chance over the next to years, to try and meet whatever crises occur while dodging impeachment.

And there is no bully pulpit.

They just can't.

So not matter how many Americans he lines up to complain, it makes no difference.

The age of the bully pulpit is dead.

You couldn't have a national economy with state currency.

Either scrap the idea of a global world, or everyone has to agree to a single global currency which can't be manipulated by diverse interests.

Whether it's currency, or climate talks, or who knows what else, if you have this many different governments all acting in their own short term interests, whatever they may be, then nothing will get done on a global level. Well, things might get done, but nothing will really fit together. Which is fine, if that's what people want, but then we can't at the same time pretend that we live in some global community with shared interests. It's one of the other. We can't have the best of everything.

The closest example of that is the euro, and it ain't working. I agree with your basic premise, but basically you are working yourself back to a global currency that will basically be the functional equivalent of gold.

so people can die while their rich friends keep whatever percentage they pay in taxes now. How sick and anti-american is that?!

:cry: