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The contrast between George Romney and his son Mitt — a contrast both in their business careers and in their willingness to come clean about their financial affairs — dramatically illustrates how America has changed…

First, however, let’s talk about what it meant to get rich in George Romney’s America, and how it compares with the situation today.

What did George Romney do for a living? The answer was straightforward: he ran an auto company, American Motors. And he ran it very well indeed: at a time when the Big Three were still fixated on big cars and ignoring the rising tide of imports, Romney shifted to a highly successful focus on compacts that restored the company’s fortunes, not to mention that it saved the jobs of many American workers…

Now fast-forward to Romney the Younger, who made even more money during his business career at Bain Capital. Unlike his father, however, Mr. Romney didn’t get rich by producing things people wanted to buy; he made his fortune through financial engineering that seems in many cases to have left workers worse off, and in some cases driven companies into bankruptcy.

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Mitt’s Gray Areas
Paul Krugman 

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This is the reality of modern American politics: a large and cohesive bloc of voters lives in an alternative reality, fed fake facts by Fox and Rush — whom they listen to out of tribal affiliation — and completely unaware that it’s all fiction.

It’s also, by the way, why attempts at outreach by Obama will fail. Even if he gives the GOP 95 percent of what it wants, these voters will never hear about it; they will still know, just know, that he’s a radical bent on destroying America.

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The Mighty Wurlitzer In Action
Paul Krugman 

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Early on in my tenure at the Times, I felt I had no choice but to point out the inconvenient truth that the official line of the commentariat was all wrong. George W. Bush was not a nice, blunt, honest guy who happened to be a conservative; he was a serial liar pursuing a hard-line agenda, who among other things deliberately misled America into war.

For this I was labeled “shrill”.

More than that: throughout these past ten-plus years, it has been considered ill-mannered and uncouth, not to mention unacceptably partisan, to suggest that the parties aren’t symmetric — that, for example, the reluctance of Democrats to cut Social Security and Medicare is not equivalent to the GOP’s consistent pursuit of huge unfunded tax cuts, that the occasional desire of Democrats to put evidence in a more favorable light is not equivalent to the constant, raw dishonesty emanating from the right. And pundits in good standing have been expected to make calls for bipartisanship that involve pretending that Republican politicians are actually the kind of statesmen the party used to contain, but no longer does.

So now we see a primary struggle in which the choice is between a series of not-Romneys whose political and policy views are stark raving mad, on one side, and the not-not-Romney who is, maybe, just pretending to share those views. How did that happen?

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Looking Back With Shrillness
Paul Krugman 

"If and when austerian ideology is in a state similar to that of Confederate war prospects in early 1865, I promise to be equally magnanimous."

Straight Talk and Shifting Windows
Paul Krugman

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I was deeply radicalized by the 2000 election. At first I couldn’t believe that then-candidate George W. Bush was saying so many clearly, provably false things; then I couldn’t believe that nobody in the news media was willing to point out the lies. (At the time, the Times actually told me that I couldn’t use the l-word either). That was when I formulated my “views differ on shape of planet” motto.

Now, however, Mitt Romney seems determined to rehabilitate Bush’s reputation, by running a campaign so dishonest that it makes Bush look like a model of truth-telling.

I mean, is there anything at all in Romney’s stump speech that’s true? It’s all based on attacking Obama for apologizing for America, which he didn’t, on making deep cuts in defense, which he also didn’t, and on being a radical redistributionist who wants equality of outcomes, which he isn’t. When the issue turns to jobs, Romney makes false assertions both about Obama’s record and about his own. I can’t find a single true assertion anywhere.

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Untruths, Wholly Untrue, And Nothing But Untruths
Paul Krugman 

"The point that strikes me most, however, is that this shows that it matters who holds the White House. You can complain about Obama’s lack of a strong progressive agenda, which I sometimes do, or wonder what good it is to hold the White House when the other side blocks every attempt to do good through legislation. But mercury regulation would not have happened if John McCain were president."

The Meaning of Mercury
Paul Krugman 

To All The Liberals/Progressives Swearing Off Politifact Forever…

Would you start watching Fox News after one report which was truly “Fair & Balanced”?

Of course not.

Let’s stop pretending that one article we don’t agree with invalidates years of fact-checking by a well-respected organization. I know that Syriana parody is funny, but can we act a little more adult about the next thing that Paul Krugman doesn’t like?

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The Washington Post quotes an unnamed Republican adviser who compared what happened to Mr. Cain, when he suddenly found himself leading in the polls, to the proverbial tale of the dog who had better not catch that car he’s chasing. “Something great and awful happened, the dog caught the car. And of course, dogs don’t know how to drive cars. So he had no idea what to do with it.”

The same metaphor, it seems to me, might apply to the G.O.P. pursuit of the White House next year. If the dog actually catches the car — the actual job of running the U.S. government — it will have no idea what to do, because the realities of government in the 21st century bear no resemblance to the mythology all ambitious Republican politicians must pretend to believe. And what will happen then?

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Send In The Clueless
Paul Krugman 

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If you remember the 2004 election, which unfortunately I do, there were quite a few journalists who basically accused John Kerry of being “inauthentic” because he was a rich man advocating policies that would help the poor and the middle class. Apparently you can only be authentic if your politics reflect pure personal self-interest — Mitt Romney is Mr. Natural.

So to say what should be obvious but apparently isn’t: supporting policies that are to your personal financial disadvantage isn’t hypocrisy — it’s civic virtue!

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I Do Not Think That Word Means What You Think It Means, Hypocrisy Edition
Paul Krugman 

Paul Krugman on Optimism

"If I say that Paul Ryan’s mother was a hamster and his father smelt of elderberries, that’s ad hominem. If I say that his plan would hurt millions of people and that he’s not being honest about the numbers, that’s harsh, but not ad hominem."

Paul Krugman (via zeitvox)

Few economists have been more correct about the economic crisis of the last several years than the proudly liberal Paul Krugman.

Krugman spotted the “liquidity trap” early on (since the problem with the economy was too much debt, cutting rates and creating easier money would not get us out of it).

Krugman shot down the hyperventilation about a coming hyper-inflation, arguing that the global labor glut would prevent easy credit from inflating wages.  

Krugman quickly pronounced the Obama Administration’s stimulus as far too small and said it would not get the job done. 

Read more
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Now, it’s true that some of the protesters are oddly dressed or have silly-sounding slogans, which is inevitable given the open character of the events. But so what? I, at least, am a lot more offended by the sight of exquisitely tailored plutocrats, who owe their continued wealth to government guarantees, whining that President Obama has said mean things about them than I am by the sight of ragtag young people denouncing consumerism.

Bear in mind, too, that experience has made it painfully clear that men in suits not only don’t have any monopoly on wisdom, they have very little wisdom to offer. When talking heads on, say, CNBC mock the protesters as unserious, remember how many serious people assured us that there was no housing bubble, that Alan Greenspan was an oracle and that budget deficits would send interest rates soaring.

A better critique of the protests is the absence of specific policy demands. It would probably be helpful if protesters could agree on at least a few main policy changes they would like to see enacted. But we shouldn’t make too much of the lack of specifics. It’s clear what kinds of things the Occupy Wall Street demonstrators want, and it’s really the job of policy intellectuals and politicians to fill in the details.

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Confronting the Malefactors
Paul Krugman 

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Paul Krugman is being targeted by Donald Rumsfeld and the same Neocon McCarthyites that targeted the Dixie Chicks for speaking out – and we need to get his back…

Paul Krugman was right about our foreign policy after 9/11, and he’s right now. Paul Krugman told the truth about those who manipulated 9/11 for political purposes – but now the professional distorters want him to pay the price.

ENOUGH. We stand with Paul Krugman – join us if you’ve got Paul’s back too. Because we’re not going back to the days when Bush officials got to tell Americans what they can and can’t say.”

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I Stand With Paul Krugman (via ryking)

(Source: diadoumenos)

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I’m not the first person to notice this, but whenever you read [right-wingers] trying to critique what they think the other side believes, you find them assuming that their opponents must be mirror images of themselves. The right believes that less government spending is always good, regardless of circumstances, so it assumes that the other side must always favor more government spending. The right says that deficits are always evil (unless they’re caused by tax cuts), so they assume that the center-left must favor deficits in all conditions.

I personally get this a lot, of course. Not a day goes by without someone blithely asserting that I have never called for spending cuts on anything, and that I have never called for action against budget deficits. A few minutes searching my writing would disabuse them of these beliefs…

What seems beyond their intellectual range is the notion that other people might have subtler beliefs than their own. Keynesianism, in particular, is not about chanting “big government good.” It’s about viewing recessions through the lens of an economic model under which temporary increases in government spending can, under certain circumstances, help reduce unemployment.

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Paul Krugman, “Not All Recessions Are Created Equal” (via ryking)

(Source: diadoumenos)