General Discussion

kpete

(72,029 posts) Sat Apr 4, 2015, 01:59 PM Apr 2015

Right-Wing Economist Accidentally Tells Truth: GOP Was Hoping For Bigger Financial Disaster in 2008

From Paul Krugman in The New York Times:
http://krugman.blogs.nytimes.com/2015/04/03/john-galt-hates-ben-bernanke/?_r=0

Ah: I see that there was a Twitter exchange among Brad DeLong, James Pethokoukis, and others over why Republicans don’t acknowledge that Ben Bernanke helped the economy, and claim credit. Pethokoukis — who presumably gets to talk to quite a few Republicans from his perch at AEI — offers a fairly amazing explanation:

Yep: that dastardly Bernanke was preventing us from having a financial crisis, curse him.

...

Basically, leading Republicans didn’t just expect a disaster, they wanted one — and they were furious at Bernanke for, as they saw it, heading off the crisis they hoped to see. It’s a pretty awesome position to take. But it makes a lot of sense when you consider where these people were coming from.

more:
http://www.dailykos.com/story/2015/04/03/1375524/-Right-Wing-Economist-Accidentally-Tells-Truth-GOP-Was-Hoping-For-Bigger-Financial-Disaster-in-2008#

18 replies

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Highlight:

Right-Wing Economist Accidentally Tells Truth: GOP Was Hoping For Bigger Financial Disaster in 2008 (Original Post) kpete Apr 2015 OP

When can we start hanging these monsters? hifiguy Apr 2015 #1

I'm a Truth and Reconciliation kinda guy, myself Jack Rabbit Apr 2015 #10

Well they are lowly characters with low moral standards, so I say we A Simple Game Apr 2015 #14

How about a litle disappearing act? erronis Apr 2015 #15

The problem is that is was artificially propping up a debt-heave economy in need of a liquidation Vincardog Apr 2015 #2

^^^ This is the real answer. ^^^ Fantastic Anarchist Apr 2015 #5

Thank U. Let's tip our hats to REALITY. Vincardog Apr 2015 #6

Yup. F4lconF16 Apr 2015 #18

Of course they were! How can you have turn a democracy into fascism without a collapsed economy? Fred Sanders Apr 2015 #3

The crisis was just postponed. nm rhett o rick Apr 2015 #4

You got that right--ETA for Cataclysm Part II is September of this year Demeter Apr 2015 #8

How much bigger could it get? Cannibalism? Demeter Apr 2015 #7

Of course they did. It would have made them more money laundry_queen Apr 2015 #9

Republicans want all bad things to happen so only a few can profit (themselves) riverbendviewgal Apr 2015 #11

Ya know that GOPers are trying to take credit for the "semi" reversal of the recession, huh Iliyah Apr 2015 #12

K & R Thespian2 Apr 2015 #13

They have and do continue to commit treason. joanbarnes Apr 2015 #16

ErikJ gives a good explanation of what a Mellonesque-Liquidation is Yo_Mama_Been_Loggin Apr 2015 #17

hifiguy

(33,688 posts)

1. When can we start hanging these monsters?

Reply to kpete (Original post)

Sat Apr 4, 2015, 02:05 PM

Apr 2015

Jack Rabbit

(45,984 posts)

10. I'm a Truth and Reconciliation kinda guy, myself

Reply to hifiguy (Reply #1)

Sat Apr 4, 2015, 03:19 PM

Apr 2015

But if they don't want to cooperate, then they'll be sentenced to spend the rest of their lives in an eight by ten foot cell. I'm still trying to decide how high it should be.

A Simple Game

(9,214 posts)

14. Well they are lowly characters with low moral standards, so I say we

Reply to Jack Rabbit (Reply #10)

Sat Apr 4, 2015, 04:55 PM

Apr 2015

save all the space we can. Pack 'em in like sardines.

erronis

(15,393 posts)

15. How about a litle disappearing act?

Reply to Jack Rabbit (Reply #10)

Sat Apr 4, 2015, 05:03 PM

Apr 2015

Lordie knows we've done this before.

Jamie, your limousine is outside.

Vincardog

(20,234 posts)

2. The problem is that is was artificially propping up a debt-heave economy in need of a liquidation

Reply to kpete (Original post)

Sat Apr 4, 2015, 02:14 PM

Apr 2015

Last edited Sat Apr 4, 2015, 03:01 PM - Edit history (1)

That is how capitalists rebalance the books after their crises.

The criminal capitalists would have been exposed,
had all the toxic "A$$etts" on their books been marked to market.

All the major ponzie schemes would have been exposed.

Fantastic Anarchist

(7,309 posts)

5. ^^^ This is the real answer. ^^^

Reply to Vincardog (Reply #2)

Sat Apr 4, 2015, 02:54 PM

Apr 2015

Vincardog

(20,234 posts)

6. Thank U. Let's tip our hats to REALITY.

Reply to Fantastic Anarchist (Reply #5)

Sat Apr 4, 2015, 03:01 PM

Apr 2015

F4lconF16

(3,747 posts)

18. Yup.

Reply to Vincardog (Reply #2)

Sun Apr 5, 2015, 02:33 AM

Apr 2015

Capitalism mandates these crises. It can't function without them. These bailouts are simply a way to cover them up. The propaganda of the elite is incredibly effective.

Fred Sanders

(23,946 posts)

3. Of course they were! How can you have turn a democracy into fascism without a collapsed economy?

Reply to kpete (Original post)

Sat Apr 4, 2015, 02:28 PM

Apr 2015

They still are pining for a collapse....which is the main reason they have already failed, because the American economy leads all Western industrialized nations in GDP output and employment....not fertile ground for a right wing revolution...terrible, actually.

And there is still Obama in the White House and he is still appointing federal judges as further protection against the fascists.

They are doomed, sooner or later...doomed.

Explains my optimism.

rhett o rick

(55,981 posts)

4. The crisis was just postponed. nm

Reply to kpete (Original post)

Sat Apr 4, 2015, 02:29 PM

Apr 2015

Demeter

(85,373 posts)

8. You got that right--ETA for Cataclysm Part II is September of this year

Reply to rhett o rick (Reply #4)

Sat Apr 4, 2015, 03:07 PM

Apr 2015

I can hardly wait. Maybe then the people will wake up.

Demeter

(85,373 posts)

7. How much bigger could it get? Cannibalism?

Reply to kpete (Original post)

Sat Apr 4, 2015, 03:06 PM

Apr 2015

Some people are NEVER satisfied.

laundry_queen

(8,646 posts)

9. Of course they did. It would have made them more money

Reply to kpete (Original post)

Sat Apr 4, 2015, 03:17 PM

Apr 2015

I'm sure they had all their bets in the stock market set for it to crash so they could profit. Not surprised they wanted a bigger crash so they could get more cash. Greedy fuckers.

riverbendviewgal

(4,254 posts)

11. Republicans want all bad things to happen so only a few can profit (themselves)

Reply to kpete (Original post)

Sat Apr 4, 2015, 03:37 PM

Apr 2015

even one of their own says so.

Republican Colonel Lawrence Wilkerson appeared on the Ed Show where he spoke about President Obama's unprecedented agreement with Iran. Wilkerson unlike most Republicans and quite a number of Democrats was able to see what the agreement if fulfilled would mean.

"I think it is going to be a much more dangerous region for sure," Colonel Lawrence Wilkerson said. "I am not one to go immediately to war. I would go to some sort of containment policy. And try to do something about it through that policy rather than going to war. But I know what my political party wants. My political party, at least some of them -- the 47 for example who signed the letter to the Ayatollah -- they want war."

http://www.dailykos.com/story/2015/04/03/1375506/-Republican-Col-Lawrence-Wilkerson-I-know-what-my-political-party-wants-They-want-war?detail=facebook_sf

Iliyah

(25,111 posts)

12. Ya know that GOPers are trying to take credit for the "semi" reversal of the recession, huh

Reply to kpete (Original post)

Sat Apr 4, 2015, 04:24 PM

Apr 2015

Like the assholes they are, they are telling their constituents it was them not the Dems nor Pres O because anybody that does not have an "R" by their name is the enemy.

Bullies r us. Smart kid does he/her homework, and bully comes a long and demands to copy it or else.