• Tips gratefully accepted here. Thanks!:

  • Recent Comments

    William on “Pet Peeves”
    Propertius on “Pet Peeves”
    William on The Welcome Escape of a M…
    jmac on The Welcome Escape of a M…
    William on The Welcome Escape of a M…
    William on The Welcome Escape of a M…
    William on “Pet Peeves”
    Propertius on “Pet Peeves”
    Ivory Bill Woodpecke… on “Pet Peeves”
    Ivory Bill Woodpecke… on Upon a painted ocean
    Propertius on A Very Good Day
    Propertius on “Pet Peeves”
    alibe50 on Upon a painted ocean
    alibe50 on And we’re off
    riverdaughter on Upon a painted ocean
  • Categories


  • Tags

    abortion Add new tag Afghanistan Al Franken Anglachel Atrios bankers Barack Obama Bernie Sanders big pharma Bill Clinton cocktails Conflucians Say Dailykos Democratic Party Democrats Digby DNC Donald Trump Donna Brazile Economy Elizabeth Warren feminism Florida Fox News General Glenn Beck Glenn Greenwald Goldman Sachs health care Health Care Reform Hillary Clinton Howard Dean John Edwards John McCain Jon Corzine Karl Rove Matt Taibbi Media medicare Michelle Obama Michigan misogyny Mitt Romney Morning Edition Morning News Links Nancy Pelosi New Jersey news NO WE WON'T Obama Obamacare OccupyWallStreet occupy wall street Open thread Paul Krugman Politics Presidential Election 2008 PUMA racism Republicans research Sarah Palin sexism Single Payer snark Social Security Supreme Court Terry Gross Texas Tim Geithner unemployment Wall Street WikiLeaks women
  • Archives

  • History

    August 2014
    S M T W T F S
     12
    3456789
    10111213141516
    17181920212223
    24252627282930
    31  
  • RSS Paul Krugman: Conscience of a Liberal

    • An error has occurred; the feed is probably down. Try again later.
  • The Confluence

    The Confluence

  • RSS Suburban Guerrilla

  • RSS Ian Welsh

    • How Peace In Ukraine Has Been Made Almost Impossible
      To make peace either one side has to be unable to fight any more, or both sides must want to make peace. One problem in Ukraine is that both sides (and I don’t mean Ukraine and Russia, but Ukraine/NATO v. Russia) have put themselves into a trap where the leaders of various countries can’t afford to lose the war, because they will lose power. Support for Ukra […]
  • Top Posts

So Europe is in a depression. Will America follow?

I’ve seen this depressing news in the last couple of days.  Relentless austerity in Europe has brought on an economic depression.  Krugman has more:

Simon Wren-Lewis thinks that the European embrace of austerity was a historical contingency; basically, the Greek crisis strengthened the hand of the austerians at a critical moment. I don’t think it’s that easy to explain; my sense was that there was powerful anti-Keynesian sentiment in Europe even before the Greek crisis, that macroeconomics as Anglo-Saxon economists understand it never had a real constituency in Europe’s corridors of power.

I think of it more as a war zone.

Based on what I learned yesterday on the changing nature of employment, ageism and the effect of Obamacare on spending, I can’t help but see another economic downturn in this country as well.  People have to have money to spend to make the economy grow.  The warriors may soon have a pyrrhic victory on their hands because deflation tends to spread without economic interventions.

So does unrest, violence and instability.  Like in Ferguson.

So not good.