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Economy
Krugman calls Obama 'clueless,' says 'we're doomed'
2010-02-11
Liberal opnion-maker Paul Krugman has become increasingly frustrated with President Obama in recent weeks, judging by some of his posts.

Today, he slams Obama for saying he "doesn't begrudge" executives getting big bonuses. "[H]ow is it possible, at this late date, for Obama to be this clueless?" he asks.

He continues:
There's good reason to feel outraged at the growing appearance that we're running a system of lemon socialism, in which losses are public but gains are private. And at the very least, you would think that Obama would understand the importance of acknowledging public anger over what's happening.

But no. If the Bloomberg story is to be believed, Obama thinks his key to electoral success is to trumpet "the influence corporate leaders have had on his economic policies."

We're doomed.
Posted by:Fred

#7  Obama, knowing most of us are tired of his rhetoric, is trying something new?




For the next week, my speeches will be in Swedish. My regular teleprompter operator is out ill and his assistant speaks no English.
Posted by: BigEd   2010-02-11 15:38  

#6  Corporatism was also the popular name used by British elite for Nazism last century.
Posted by: Lumpy Elmoluck5091   2010-02-11 10:51  

#5  "[H]ow is it possible, at this late date, for Obama to be this clueless?"

Maybe he was also clueless early on.
Posted by: JohnQC   2010-02-11 08:42  

#4  And by their words and deeds you shall know them.


This is true unmitigated facsism plain & simple.
Posted by: AlanC   2010-02-11 08:23  

#3  It's classically called "corporatism", AH, and the stuff about privatizing gains and socializing losses was originally said by an Italian critic of Mussolini. Given that Krugman *is* a corporatist, given his insane, inexplicable fondness for Nixon-era economic policy & John Kennen Galbraith, I don't know what he's on about.
Posted by: Mitch H.   2010-02-11 08:20  

#2   Krugman was talking about socializing losses back in Sept. 2008.
losses are public but gains are private -- There are lots of other terms for the same process: "corporate socialism," "crony capitalism," "corporate welfare," but my favorite is "privatize the gains, socialize the losses." What Krugman has failed to get all along is that Obama was and is clueless.
Posted by: Anguper Hupomosing9418   2010-02-11 07:46  

#1  Kettle meet Pot. Two poster children that show one can have all the academic paper in the world, but not have one wit of common sense.
Posted by: Procopius2k   2010-02-11 06:36  

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