Sunday, July 31, 2011

Notable Quotes from Barry Ritholtz, Yves Smith, Paul Krugman and Others

Because Sometimes Someone Other Than The Dismal Political Economist Can Say Things Best

Come what may, the US will always be the least dirty shirt in the hamper, despite Washington’s best efforts.

---Barry Ritholtz on why a downgrade in the U. S. debt rating won’t matter a lot.

It is hard to come up with words that are strong enough to describe what an appalling display of misguided ego, inept negotiating postures, bad policy thinking, and utter disregard for the public interest are on display in this fiasco. But as a friend of mine likes to say, “Things always look darkest before they go completely black.”

---Yves Smith on the Debt Ceiling Issue

So given a stagnant economy suffering from falling government spending, what is all our political debate about? Spending cuts! After all, we have to appease those invisible bond vigilantes, who are suckering us in by cutting long-term rates to 2.87% as of right now.

---Paul Krugman on future macro-economic policy

Conservatives are on a winning streak because they have a Big Idea that serves as an animating, Eugene Robinsonmotivating, unifying force. It happens to be a very bad idea, but it’s better than nothing — which, sadly, is what progressives have.

---Eugene Robinson

Your Moment of Panic

---Aaron Carroll from The Incidental Economist

Here is what he is referring to

"I made you some charts based on their data. First up is total national health care (NHE) spending. Remember, this is TRILLIONS of dollars:"

Here’s NHE per person:

And finally, NHE as a percentage of GDP:

"Anyone who doesn’t think that our NHE isn’t the real problem with future spending and deficits isn’t paying attention."

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