Paul Krugman Goes for a Knockout Against Scrappy Austerians

Re:Paul Krugman Goes for a Knockout Against Scrappy Austerians by EdSharkey on Wednesday June 24, 2015 @12:23AM (#9769549)

I suppose 'wasteful' isn't descriptive enough. What I was thinking was something like, 'a big glob of money generally earmarked for boosting the economy and other do-goodery'.

Sure 500bln is a delicious shot in the arm, even if most of it is 'wasted' on the cronies. I can't predict what will trigger inflation, hyper- or otherwise, in this distorted economy. All I want to know is, just when exactly can I expect the payoff? Will there be growth or recovery such that the debt holders are paid back? No? Never can expect it, realistically? Ok, let's cut it out with the stimulus then, because I'm sick of bailouts and blatant cronyism.

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Re:Paul Krugman Goes for a Knockout Against Scrappy Austerians by jbooth on Wednesday June 24, 2015 @12:27AM (#9769563)

You already got the payoff, look at some charts of gdp and employment figures from 2008-2012. The downward slide was stopped and the slow recovery started, exactly the opposite of what the naysayers predicted.

In other words there was a huge change in the derivative of those rates, downward change flattened and bent upwards.

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Re:Paul Krugman Goes for a Knockout Against Scrappy Austerians by EdSharkey on Wednesday June 24, 2015 @12:42AM (#9769620)

"You already got the payoff" equaling "predicted doom averted" seems very abstract. I interpret that as, "zombie economy continues to shamble along according to plan".

Now, going instantly another 500bln in the hole and rolling over that much more debt service every year is concrete. I can measure that failure.

Was the stimulus worth it short term or long term? I don't think so!

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