Krugman on election

JOHNFRANCE

Krugman's take on the Irish economy (in an excellent webcast on the US and world economy). Interesting stuff.

Kicks in on 49 minutes and 35 seconds.

namenotavailablE

The link to the video is missing!

JOHNFRANCE

The shame, the shame! Here you go. Sorry!
http://www.livestream.com/nytimes/video?clipId=pla_8a6bac15-edf8-472c-ad7c-29c06daf89f9&utm_source=lslibrary&utm_medium=ui-thumb

Dob74

He sums it up pretty simply. A shame no one in this country can see the turth.
Default the middle of 2012,13?
If I was FG/Lab I would default now, all the cuts all the tax hikes.
In 5 years things will be ok and they can blame FF for everything.

Scofflaw

OP, the usual rules on starting a thread with a video is that you provide a synopsis of the video's content - not just a "this is great". Not everyone either can or does watch videos, so this rule ensures that anyone can take part in the discussion.

Will check back in a while to see if there's a synopsis - either by OP or other. Otherwise, the thread will be closed.

moderately,
Scofflaw

JOHNFRANCE

Sorry, didn't realize that this was the case.

Usual Krugman.

Things have gone from absolutely awful to just terrible. Even though some figures are encouraging things are still dire.

Two generations of American affected: the 58 year-old who'll never work again and college graduates who have nowhere to go.

No room for a coming together of Dems and Republicans given that the clivage is so huge: there is no middle ground.

Spoke about political psychology in relation to 2012. Said what is imortant is where the unemployment rate is headed, not where's it's at. Said that could be a major factor in Obama's reelection.

Also ironized on Republican hypocrisy regarding Medicare.

Scofflaw

JOHNFRANCE wrote: »

Sorry, didn't realize that this was the case.

Usual Krugman.

Things have gone from absolutely awful to just terrible. Even though some figures are encouraging things are still dire.

Two generations of American affected: the 58 year-old who'll never work again and college graduates who have nowhere to go.

No room for a coming together of Dems and Republicans given that the clivage is so huge: there is no middle ground.

Spoke about political psychology in relation to 2012. Said what is imortant is where the unemployment rate is headed, not where's it's at. Said that could be a major factor in Obama's reelection.

Also ironized on Republican hypocrisy regarding Medicare.

Thanks - and the Irish bit?

moderately,
Scofflaw

JOHNFRANCE

The Irish bit.

Said that we've replaced FF with FG in what amounts to a revenge mission. Think he used the term 'bums'!

Said with Labour in the government there may be some give and take, but not much.

Talked about the really severe austerity measures.

Said that what has been planned could not work and that default was inevitable.

Believes we are screwed. Which we are.

Scofflaw

JOHNFRANCE wrote: »

The Irish bit.

Said that we've replaced FF with FG in what amounts to a revenge mission. Think he used the term 'bums'!

Said with Labour in the government there may be some give and take, but not much.

Talked about the really severe austerity measures.

Said that what has been planned could not work and that default was inevitable.

Believes we are screwed. Which we are.

Possibly - but the question is whether default is genuinely inevitable as opposed to merely an apparent way out.

I'm not sure how many people appreciate that most "defaulting" countries don't actually repudiate their debts - they just reschedule them over a longer period. Since a large number of the people calling for default are calling for it on the basis that it's harsher but quicker, I presume the appreciation is not widespread.

cordially,
Scofflaw

jimmycrackcorm

Scofflaw wrote: »

Since a large number of the people calling for default are calling for it on the basis that it's harsher but quicker, I presume the appreciation is not widespread.

I don't think for a second that an pro-defaulters believe it is anything but writing off debt.