krebscycle

  • Progressive Economists keep confusing themselves

    Dean Baker’s CEPR published the following interesting graph which tells us both something interesting about the economy and something sadly dismal about how “progressive” economists keep confusing themselves. Dean goes on to helpfully remind us of the real meaning of this graph. Obama’s economic legacy:Months of consecutive job growth is…

  • America’s senile left

    The quote below from Tom Engelhardt is indicative of the weird reactionary shell shocked state of the American left after 7 years of a black man in the White House. We are in the United States in 2016, 60 years after CIA coup in Iran installed the Shah’s torture state,…

  • What Hillary Clinton should say

    Ahem: The scandal about my email server is a great example of how nobody in the news media or the Republican congress knows how to do any work or cares about doing their  jobs. The email system in the state department is a pile of junk – it was worse…

  • How the New York Times helps elect Republicans

    How the New York Times helps elect Republicans

    [from 2016] The NYTimes will, most likely, endorse the Democratic nominee for President but their News Desk is and has always been working full time to elect the Republican mostly by reinforcing the Republican brand. Most people do not vote based on issues papers, but on their impressions of the…

  • Movement Progressives have learned nothing

    As we collapse into election 2016, it’s clear that  Movement Progressives, many of whom have coalesced around Bernie Sanders,  have learned nothing. The author of this 2010 blog post just cited it as evidence that his complaints about President Obama were well justified – and the dense material of often…

  • The New York Times love for Jeb!

    Everyone “knows” the New York Times is liberal so when they call Jeb Bush a “cerebral policy maven” despite his apparent lack of any ideas and ignore his record of sleaze and incompetence, their puffery is taken as “reporting”. The same goes for the Times hostility to Hillary Clinton – and…

  • Mainstream Economics is Laughable Right Wing Trash

    Mainstream Economics is Laughable Right Wing Trash

    On page 4 of Nobel Prize winning economist Tom Sargent’s paper on Latin American Hyperinflation you can find the following statement that, on the surface, looks like a scientific claim: The two fixed points are on different sides of the peak of the Laffer curve, so increases in the deficit…

  • The right wing “progressive” finance bubble

    During the financial crisis, the progressive and left media was dominated by “experts” who told a story that was totally false and dangerously reactionary. The truth, still unknown to most Americans, is that the Federal Reserve Bank and President Obama’s TARP bailouts saved the economy and made money for the…

  • The Greek Bailout was another EU bank bailout.

    In 2009  Greece owed €250 billion for bonds which it could not pay or even keep up with and €45 billion in other loans .  The bonds had been sold in the free market to investors (mostly banks) that believed the higher interest rate on Greek bonds justified the higher risk.…

  • Jon Chait’s forced gullibility

    Giuliani went too far for Chait, but he still claims “most of [conservative] ideas can be expressed and justified in non-racial terms, and deserve to be taken at face value”. No. Most of the “ideas” behind Republican &Conservative political speech are euphemisms for racism or excuses for it or, at…