Leadership we need — though I’m sure he’s flip-flopped by now:
Can’t help wondering whether the Great Triple Disaster that hit Japan won’t result in the fiscal stimulus the country’s needed for nearly two decades.
Why worry? Here’s why.
Here’s loads of stuff to cut to trim the deficit (assuming it’s really a problem).
Hey, anyone catch Obomba coming out against the destruction of Medicare? Me neither.
If Fox News reported news, maybe they’d realize best-seller lists have a problem with accuracy when they can be gamed — like by buying a bunch of books to show big sales then return the books for refunds later.
Doomed! Professor Krugman:
The economy is in a liquidity trap when even a zero nominal interest rate isn’t enough to restore full employment. That’s it.
There are, however, some consequences of that situation. One of them is that increased borrowing by the government — or by anyone else — does not push up interest rates.
And that’s the sense in which the low level of interest rates now, lower than rates before the big deficits began, is evidence that the theory of the liquidity trap applies.
Really, this isn’t hard; you can read the words, or, if you’re a trained economist, work through the formal models. It’s only confusing if you really, really don’t want to understand.