Cracks (or chasms) starting to appear in Republican economic mantra!

[Bill Roy]

Just picked up on this, could it be that some Republicans have suddenly got real balls and telling the truth as the truth rather than political dogma dressed up as the truth?

Link

One thing is for sure, Tea Party members are going to be cursing and threatening another Republican.

[Bill F.]

Not sure, but I think Frum was an early Obama supporter, so there's not much left of his Republican credentials to tear apart.

The problem is that we need massive deleveraging. Everything else is a sideshow. If the government wants to spend more money to increase the scope of the coming train wreck, that's fine. My main problem with it is that the money will be used (as it always is) to increase the power of the most corrupt to buy off what's left of democracy.

Edit: One of the comments in the article linked to Krugman's 2002 push for a housing bubble to boost the economy. That worked out well...

Krugman in 2002: "The basic point is that the recession of 2001 wasn't a typical postwar slump, brought on when an inflation-fighting Fed raises interest rates and easily ended by a snapback in housing and consumer spending when the Fed brings rates back down again. This was a prewar-style recession, a morning after brought on by irrational exuberance. To fight this recession the Fed needs more than a snapback; it needs soaring household spending to offset moribund business investment. And to do that, as Paul McCulley of Pimco put it, Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble."

[Gerry]

Link

I have been a David Frum reader and a Paul Krugman reader and a Thomas Friedman reader for several years. Have several of their books (I think Friedman just came out with another one).

Each of these are very typical seated guests on the Sunday Morning talk shows. And each can also be found making the rounds on Bill Mahrer.

I enjoy reading each one's opinion of the here and now. I think Krugman has a very acute sense of reality and it is deep rooted in data and stats...historical and current. Frum is/was a tactician of sorts, being a speech writer. Friedman has a keen sense of reality as well but looks at global impacts.