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[VN
Boards Archive] |
Welcome to the Vault Network
forum archive.
This is not a complete archive, time didn't allot us the
opportunity to properly backup the majority of the boards
deemed "expendable". Most boards on this list have at least
20-40 pages archived (non-logged in pages, 15 topics per
page).
Popular boards may have as many as 250 pages archived at 50
topics per page, while others deemed of historical
signifigance may be archived in their entirety.
We may not agree with how the board shutdown was managed, but
we've done what we could to preserve some of its history in
lieu of that.
Please enjoy the archive.
~
Managers, Moderators, VIP's, and regular posters.
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Topic: Pain Without Gain
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Scarne
Title: Capo di Scientifico
Posts:
27,710
Registered:
Jul 23, '01
Extended Info (if available)
Real Post Cnt: 22,798
User ID: 272,061
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Subject:
Pain Without Gain
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http://www.nytimes.com/2012/02/20/opinion/krugman-pain-without-gain.html?_r=4&hp Now the results are in — and they’re exactly what three generations’ worth of economic analysis and all the lessons of history should have told you would happen. The confidence fairy has failed to show up: none of the countries slashing spending have seen the predicted private-sector surge. Instead, the depressing effects of fiscal austerity have been reinforced by falling private spending. Furthermore, bond markets keep refusing to cooperate. Even austerity’s star pupils, countries that, like Portugal and Ireland, have done everything that was demanded of them, still face sky-high borrowing costs. Why? Because spending cuts have deeply depressed their economies, undermining their tax bases to such an extent that the ratio of debt to G.D.P., the standard indicator of fiscal progress, is getting worse rather than better. Meanwhile, countries that didn’t jump on the austerity train — most notably, Japan and the United States — continue to have very low borrowing costs, defying the dire predictions of fiscal hawks. Now, not everything has gone wrong. Late last year Spanish and Italian borrowing costs shot up, threatening a general financial meltdown. Those costs have now subsided, amid general sighs of relief. But this good news was actually a triumph of anti-austerity: Mario Draghi, the new president of the European Central Bank, brushed aside the inflation-worriers and engineered a large expansion of credit, which was just what the doctor ordered.
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E Pluribus Unum
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Eager_Igraine
Posts:
20,126
Registered:
Nov 21, '02
Extended Info (if available)
Real Post Cnt: 19,548
User ID: 740,268
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Subject:
Pain Without Gain
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I radiate more heat than light. I know what you're trying to do but you're just sailing another failboat over the falls. - imaloon1
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Altra_Shadowstalker
Posts:
17,553
Registered:
Jan 17, '02
Extended Info (if available)
Real Post Cnt: 16,076
User ID: 616,837
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Subject:
Pain Without Gain
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In before Krugman is a Jew Statist Commy!
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"Goddammit, Swearengen, I don't trust you as far as I could th'ow you, but I enjoy the way you lie." I don't typo often, but when I do, I blame Swype.
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Moe_Nox
Title: In Moe We Trust
Posts:
22,319
Registered:
Feb 4, '07
Extended Info (if available)
Real Post Cnt: 19,181
User ID: 1,203,840
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Subject:
Pain Without Gain
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I predict that analysts that blew their predictions will continue to keep their jobs, shows, columns, and following. Genius is lost in this country.
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The Nanny State cometh Currency should be bacon cheeseburgers and blow jobs... - Reese Life at the Outpost: http://www.collegehumor.com/video:1771556
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AzureTyger
Title: Awesome
Posts:
29,693
Registered:
Apr 1, '02
Extended Info (if available)
Real Post Cnt: 26,594
User ID: 663,926
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Subject:
Pain Without Gain
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Nobel laureate economist Paul Krugman tells it like it is.
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Using the mirror of ridicule to force conservatives to confront their own stupidity.
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