News Links 01/24/2012

5 Comments
  1. Dave Holden says

    I found it hard to get passed the “Condition one is met” nonsense in the Elliot Article.

    Here’s the Kahn Academy on SOPA/PIPA http://youtu.be/tzqMoOk9NWc  (ht Wenzel)

    1. Anonymous says

      The UK economy was growing slowly at the time of the election. It was not a strong recovery. So condition one was met. What the masses forget was that right up to the crisis the Conservatives were signed up to Labours spending program for the next three years. So hardly a sign of excessive profligacy. It also does not explain the crisis in Ireland where they had a small government surplus and low debt prior to the crisis, and are now on the verge of bankruptcy, facing a further IMF bailout next year, as well as decades of stagnation. The well qualified young have left en masse. On a scale unheard of since the potato famine. 

      1. Dave Holden says

        I don’t consider that growth real, it was based on unsustainable debt growth as was much of the past decade.

      2. Dave Holden says

        To clarify, (have to be short, on phone) both the UK and Ireland are reaping the effects of massive private sector debt based mal investment. Brown’s “frugality” is only real of you consider the growth and tax take on that mal investment real. I don’t.

        1. Anonymous says

          Yes it was all a bubble but no one complained. I could see that it was a spectacular bubble and that the level of debts were excessive but few economists criticised it. Mainstream economists failed to see this. They still fail to realise that the economy cannot be maintained by inflating debt bubbles. 

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