paul krugman

The greatness of John Maynard Keynes, our only guide in this crisis

Judging from the comments on the FM site, most readers should carefully review these articles.  I believe this crisis results from a paradigm crisis in Keynesian economics, as we reach the boundaries of his vision — specifically, the point at which aggregate private sector debt becomes a limiting factor for the economy’s growth.  But however …

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A reminder – the TARP program is just theft

This is a brief update to my previous posts about the government’s TARP program. Slowly more voices are raised about the pending theft of taxpayer money, 21 September 2008 The Paulson Plan will buy assets cheap, just as all good cons offer easy money to the marks, 30 September 2008 Now we have the Citgroup bailout.  The secret …

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Slowly more voices are raised about the pending theft of taxpayer money

Slowly the terror and panic subsides.  The outrageous claims of certain doom come from members of several groups, the largest being… those who seek to raid the government’s coffers, regulators, who malfeasance had a large role in creating the problem, statists, excited at the prospect of expanding the government’s power. A quick look at the Paulson/Bernanke proposal …

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Can the European Monetary Union survive the next recession?

“Europe will be forged in crises, and will be the sum of the solutions adopted for those crises.” — Jean Monnet in his Memoirs (1978). He was one of the architect of the program to unite Europe (see his Wikipedia bio) Rule #1:  even big things die.  Geopolitical analysts too often assume the permanence of …

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