Comments for Conventional Economic Wisdom from People Who Couldn't See an $8 Trillion Housing Bubble is of Little Value at http://www.cepr.net , comment 1 to 5 out of 5 comments http://www.cepr.net Sat, 18 May 2013 23:50:59 +0100 FeedCreator 1.7.3 http://www.cepr.net/index.php/blogs/beat-the-press/conventional-economic-wisdom-from-people-who-couldnt-see-an-8-trillion-housing-bubble-is-of-little-value/#comment-766 Dean! So... Henry Blodget is claiming that US debt as a percentage of GDP is where it has never been before. He claims that WWII was different because consumers weren't in so much debt then, only the government was. http://finance.yahoo.com/tech-ticker/governments-panicked-about-spending-and-debt-are-about-to-make-the-biggest-mistake-ever-says-paul-krugman-497215.html?tickers=^dji,^gspc,uup,udn,tlt,tbt,spy&sec=topStories&pos=9&asset=&ccode= This seems wrong to me, and besides- Henry Blodget is a scumbag crook who was a criminal back when he was an "internet analyst". So... response. - Stephen Tue, 01 Jun 2010 12:47:47 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/conventional-economic-wisdom-from-people-who-couldnt-see-an-8-trillion-housing-bubble-is-of-little-value/#comment-764 For related BS, check out Dave Leonhardt's piece about underestimating risk, in which he says the next thing that we might be underestimating is the risk that because of big deficits "lenders" will eventually become leery about lending to Washington. Of course, if a weathervane like Dave sees this risk on the horizon, we can be pretty sure it won't be the next black swan... (the piece is at: http://www.nytimes.com/2010/06/06/magazine/06fob-wwln-t.html?hp) - eric Tue, 01 Jun 2010 11:51:00 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/conventional-economic-wisdom-from-people-who-couldnt-see-an-8-trillion-housing-bubble-is-of-little-value/#comment-758 I don't recall seeing poll results on questions like: Should income tax rates be increased for people who earn a great deal above the average or median? Should the income limit on payroll taxes be abolished? Should capital gains and dividend income be subject to taxation for Social Security and other entitlements? Should the income tax rates be the same for capital gains and dividends as for wage income, that is should all income be treated the same? Politicians and pundits act as if they know that the answers are all negative. If I have just missed seeing the polls which provide answers to such questions, maybe they should be compiled somewhere. If polls are not asking such questions, we should ask why they aren't. Could it be that the politicians and media companies that sponsor polls don't want to know the answers, or don't publicize them? Also, how about polls to determine how many people even understand these issues? - skeptonomist Tue, 01 Jun 2010 04:38:48 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/conventional-economic-wisdom-from-people-who-couldnt-see-an-8-trillion-housing-bubble-is-of-little-value/#comment-757 Is the Pope Catholic? Does a bear crap in the woods? Not anymore, the Pope could be a pedophile and the bear could be crapping in urban trash cans. So goes the conventional wisdom of the Washington elite. Is there a bubble? No. Was there a bubble? Apparently so, but who could have known, and what's that got to do with a $1.5T deficit projected to be $5T over the next decade? Ummmm. Duh. If the socialists don't wake up and accept the reality of zero sum trade-offs designed to give them more at the expense of others getting less, we're all going down the crapper of an immoral cesspool. Like pedophiles, these criminals who benefit from deficits and debt should be tracked with ankle collars and not allowed to live within a mile of any Keynesian. Stupid liberals. - izzatzo Tue, 01 Jun 2010 04:16:30 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/conventional-economic-wisdom-from-people-who-couldnt-see-an-8-trillion-housing-bubble-is-of-little-value/#comment-756 watch it Dean- ur post passes on pentagon propaganda- the term "defense spending" is straight out of hitler's propaganda trove- all of our $billions going to bombing various poor brown people in countries that don't have enough fire power to take over podunk county in guam is exactly the opposite of military defense- these brown peopled countries are functionally defenceless against our 'defensive' advancements into their sovereign territories - frankenduf Tue, 01 Jun 2010 04:12:58 +0100