In Blaming Reagan, Krugman Ignores the Real Culprits
by Robert Scheer
How could Paul Krugman, winner of the Nobel Prize in economics and author of generally excellent columns in The New York Times, get it so wrong? His column last Sunday — "Reagan Did It" — which stated that "the prime villains behind the mess we're in were (Ronald) Reagan and his circle of advisers," is perverse in shifting blame from the obvious villains closer at hand.
It is disingenuous to ignore the fact that the derivatives scams at the heart of the ...
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Posted by: Masako
Comment: #1
Sat Jun 6, 2009 10:34 AM
So now we should turn to all the other areas where unbridled greed and vision failing to make it past the tip of the nose have plundered the regulatory infrastructure while assuring us that everything is A.O.K. How will bad air, bad water, global warming, the depleted world fishery, toxics, unlimited numbers of human beings being added to the planet without any concern for overpopulation, and the environment in general come crashing down on us? Everything will be just fine, until it's not. Sure hope God will be able to cough up an emergency planet to lend us when the ecological market collapses.
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Posted by: michael nola
Comment: #2
Sat Jun 6, 2009 6:53 PM
In the wake of Wall Street's greed blowing up into all of our faces, has there been even one change forced on them by "our" government for the trillions of $$ we've handed over? No. All that's been done is to make those too big to fail even bigger, and with it their control over our country. A very simple change would be to require anyone who issues a mortgage to hold it for a significant period of time, and the riskier the loan, the longer it must be held. Beyond that, the total lack of financial transparency this crisis has revealed should lead our government to regulate the hell out of these guys and should keep the average Joe from every investing in Wall street until real change is made. Finally, the feckless response of Democratic controlled D.C. proves that Ralph Nader was right, and that a corporate Democrat is scarcely different than your typical Republican. Pleae, Americans, get politcally active, or more of the same will be on the way.
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Posted by: DAVE PHILLIPS
Comment: #3
Sun Jun 7, 2009 2:18 AM
ROBERT - Generally concur, with a modest 'tweak' of the Krugman piece a week ago. Have posted my comments - subject to moderator review and availability [as of 3:15 a.m. MDT - Sunday Jun 7, 09] on NOOZHAWK.com blog in Santa Barbara. s.v.p. Otherwise - WELL DONE = 'BRAVO ZULUS' ON YOUR PIECE.
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Posted by: Masako
Comment: #4
Wed Jun 10, 2009 8:00 AM
Come to think of it, you're both right, Mr. Scheer. The seeds were definitely sown in the Reagan era. It not only brought the new Republican paradigm to domination of national politics, but also changed the game so much that Democrats like Clinton had to sound Republican in order to get elected. Not so surprising then that they started to think Republican as well. The old "don't worry be happy" theme still plays on and on, and it doesn't really appear that the lesson has yet been learned.
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