Krugman: I Was Wrong About Inflation

[Rotadom]

It has doubled since his swearing-in due to his incompetent policies and wacko Marxist appointees and advisors.

Exactly which "incompetent" policies and "wacko Marxist" appointees are at fault for the high gas prices?

 

[JohnEngelman]

The poor are not providing the goods and services that the middle class demands.

A Conversation with Arthur Jensen​

American Renaissance, August and September 1992

Once you get below IQs of 80 or 75, which is the cut-off for mental retardation in the California School System, children are put into special classes. These persons are not really educable up to a level for which there’s any economic demand. The question is, what do you do about them? They have higher birth-rates than the other end of the distribution.

People are shocked and disbelieving when you tell them that about one in four blacks in our population are in that category — below 75.

https://www.amren.com/news/2012/10/arthur-jensen-has-died/

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Blacks with IQ's below 75 make up the underclass of the black ghetto. These unemployable people supplement their welfare checks with the gains from criminal activities. When they have the opportunity they loot and burn stores.

 

[JohnEngelman]

Exactly which "incompetent" policies and "wacko Marxist" appointees are at fault for the high gas prices?

Those on the right who accuse liberals of being Marxists have rarely read anything by Karl Marx, and do not know what they are talking about. The word "Marxist" is used by the right as carelessly as the word "racist" is used by those on the left. Each word is not used to advance an intelligent discussion of a serious issue, but to suppress the discussion.

 

[JohnEngelman]

As an ideology people are willing to kill and die for Marxism hardly exists any more. Marxism experienced a slight renaissance during the War in Vietnam. Even then, few people in the anti war movement were Marxists.

I read some of Marx in college. After I gradated I took a fascinating seminar given by the American Communist Party on Das Kapital. Interestingly enough, I already owned most of the books on the reading list. These included all three volumes of Das Kapital, and an anthology of essays by Karl Marx and Friedrich Engels. These had been printed in Moscow by Progress Printers. My father was an economist. When I showed him the reading list for the seminar, Dad said, "The leader of that seminar knows a lot about economics."

Indeed he did. Nevertheless, he was a professional physicist. While leading the seminar he was translating a book from Russian to Swedish on behalf of the Soviet government.

I have also read The Communist Manifesto many times.

I believe that a political thinker should be read for insight, rather than doctrine. Most people cannot do that. They either like what the guy has to say, and agree with all of it, or they dislike it, and disagree with all of it.

I think Karl Marx had two valid insights, and that he was mistaken about everything else.

 

[Chobham]

Those on the right who accuse liberals of being Marxists have rarely read anything by Karl Marx, and do not know what they are talking about. The word "Marxist" is used by the right as carelessly as the word "racist" is used by those on the left. Each word is not used to advance an intelligent discussion of a serious issue, but to suppress the discussion.

Valid point.

Marx was addressing a problem that no longer exists but many of his thoughts have been shoe-horned into what is happening today so the blanket assertion can be understood even if it doesn't apply.

 

[LukSkyFokker]

 

[Rightguide]

I am waiting for Arthur Laffer to say, "I was wrong about the ability of Reagan's tax cuts to balance the budget."

​

Meanwhile, you can watch Wiki tell us the 100-year-old definition of "recession" was wrong and as a top propaganda center for the DNC it has to be changed to fit the Biden bullshit.

 

[Rotadom]

Exactly which "incompetent" policies and "wacko Marxist" appointees are at fault for the high gas prices?

 

[mayfly13]

In his 1980 debate with Jimmy Carter Ronald Reagan said that cutting taxes and raising military spending would generate so much economic growth that he would balance the budget by 1983 "If not sooner." Where were the Republican economists who admitted that Reagan was mistaken?

When President Clinton raised taxes of the richest five percent of the U.S. population by a fairly small amount, Republican economists predicted a recession. What we got instead was low inflation, low unemployment, and eventually balanced budgets that reduced the national debt. Where were the Republican economists who admitted that they were mistaken?

I keep quoting this, because it's intriguing
& the opposite of what this Board's Republicans have been telling me and others for years

President Biden's mistake was in not raising taxes on the rich before handing out stimulus checks.

and this doesn't let Dems off the hook either