Harold Meyerson a journalist for the Washington Post wrote an article, "It’s not about socialism, it’s about rescuing capitalism" Meyerson is speaking to the public and the hot head conservatives who keep attacking everyone else but themselves. Meyerson explains our system of Capitalism has failed and he suggests Socialism is a good idea to regenerate our problems. Americas problems consists of crisis of commercial banks, plunge of stock markets, global joblessness and much more. Indeed change is needed and Meyerson suggests Obama’s idea of Socialism might be the ticket to save Capitalism.
Meyerson also states don’t be so quick to judge Obama and his ideas for it is capitalism that has gotten America into this mess, 30 years of being unregulated. Even though socialism has not gotten the best reputation perhaps Obama is making a turn for the good and combining Capitalism with Socialism ideas, so says Meyerson. Myers states, "investing more tax dollars in education and research and development is a way to use public funds to create a more competitive private sector.
If you ask me I think Myerson’s point of view could work and get our lost nation back into gear. Even though Im not an Obama fan for some of his ideasbut i respect him. therefore, Meyerson makes a point by saying Obama is tying this form of government with Capitalism because Capitalism has failed and he wants to try something different. By all means if it will work try it. So I say welcome Socialism I hope your help.
Sunday, March 15, 2009
Monday, March 9, 2009
Assignment #6 C.Vigeant
The article “Revenge of the Glut” was written by Paul Krugman, a New York Times columnist and professor of economics and international affairs at Princeton University. Krugman received his BA from Yale and his PhD from the Massachusetts Institute of Technology. He has written or edited many books and more than 200 professional papers. In 2008 he was awarded the Nobel Prize in Economics. The article appeared in the New York Times on March 2nd 2009. The NY Times is a liberal leaning, nationally distributed, daily newspaper. “Revenge of the Glut” appeared on the Op-Ed Page.
The article was written for American citizens who are interested in the origins of the economic crisis, as well as for scholars and politicians. The author wants to inform the readers about his opinion on how the crisis started and why it is so widespread. His main point is that after the Asian financial crisis Asian countries started buying foreign assets which caused huge capital inflows to the US, as well as to some smaller European economies. Most money flowed to the US however, due to deregulation allowing American bankers to hide risks and fool investors. This led to an illusion of wealth in America and in countries such as Iceland, Ireland and Estonia. When the bubble burst, as all bubbles will eventually, assets were lost, but the debt remained. The housing bubble burst took place mainly on the coast; yet demand for manufactured goods plummeted, spreading the crisis all across the country and the world. At the moment, people are unwilling to invest and reluctant to buy. A solution to the problem has still not been found.
The article was written for American citizens who are interested in the origins of the economic crisis, as well as for scholars and politicians. The author wants to inform the readers about his opinion on how the crisis started and why it is so widespread. His main point is that after the Asian financial crisis Asian countries started buying foreign assets which caused huge capital inflows to the US, as well as to some smaller European economies. Most money flowed to the US however, due to deregulation allowing American bankers to hide risks and fool investors. This led to an illusion of wealth in America and in countries such as Iceland, Ireland and Estonia. When the bubble burst, as all bubbles will eventually, assets were lost, but the debt remained. The housing bubble burst took place mainly on the coast; yet demand for manufactured goods plummeted, spreading the crisis all across the country and the world. At the moment, people are unwilling to invest and reluctant to buy. A solution to the problem has still not been found.
Assignment 6, M.Stevenson
The name of the article is Revenge of the Glut written by Paul Krugman of the New York Times paper. This article is written for the audience of americans who are worried about the economic problem we are having. This article also explains why this problem is happening. Krugman is a professor at Princeton University where he won the noble prize. He basically said you cant blam it on mortagage and loans even if very cheap money is being spent. The author brings a speech to the audiences attention about how the problems started from asia and alot of the glut basically came to the US. This article did inform us on how it started or where it orginated from.
Sunday, March 8, 2009
Assignment#6 M.Gardner
"Revenge of the Glut," is an article written by Paul Krugman. The article appeared in the New York Times on March 2, 2009. The article was directed toward the American people, and for those who keep track of all financial crisis. Krugman wrote the article to express his thoughts on the debt crisis in the U.S.
Krugman argues that the answer to the debt crisis is in a speech that was given four years ago by, Ben Bernanke. Bernanke believed the causes of the debt crisis, were not in America but Asia. Bernanke explained the emerging of economies in Asia had been huge importers of capital, and after the Asian Crisis, the country exported capital to the world including the U.S.
Krugman explains the exporting of capital to the U.S. as,"our giant trade deficit." With this in mind, he explains that the inrush of capital created the illusion of wealth, and by time the wealth would burst like a bubble. And of course it did. Krugman believes that this is how we got into the mss, and now are looking for a way out.
Krugman argues that the answer to the debt crisis is in a speech that was given four years ago by, Ben Bernanke. Bernanke believed the causes of the debt crisis, were not in America but Asia. Bernanke explained the emerging of economies in Asia had been huge importers of capital, and after the Asian Crisis, the country exported capital to the world including the U.S.
Krugman explains the exporting of capital to the U.S. as,"our giant trade deficit." With this in mind, he explains that the inrush of capital created the illusion of wealth, and by time the wealth would burst like a bubble. And of course it did. Krugman believes that this is how we got into the mss, and now are looking for a way out.
Assignment #6 AHarrison
The article entitled Revenge of the Glut was written by a Paul Krugman. Mr. Krugman recieved his Ph. D. from MTT, in 1997, and is currently a proffessor of Economics and International Affairs at Princeton University. And, ever since 1999, he has also worked as a columnest for The New York Times (whose articles appear on the Op-Ed Page). His articles, of caurse, focus on his forte of economic knowlege. Hence, his estensive education and research in the field of economics make him a great asset to any article, as he can offer some valuable insight.
This particular article (Revenge of the Glut) was published in The New York Times, on March 1, 2009. The item was writtern as an attempt to answer the question of where our current economic situation came from. To do this, the author draws a line from the various economic situations of the past, to today. This article is directed torward a curious, open-minded, and politicaly-inclined sector of the American population, who, among themselves, pose some of the same questions as the author.
The basic aurguement Krugman wants to make is that America's entire current-day economic crises can be traced back to a time when everything seemed fairly fine. At one point in the article, Krugman states, "This may explain the almost eerie correlation between conservative praise two or three years ago and economic disaster today." In other words, what some people praised then, they now regret. Also interesting is this, "“Reforms have made Iceland a Nordic tiger,” declared a paper from the Cato Institute. “How Ireland Became the Celtic Tiger” was the title of one Heritage Foundation article; The Estonian Economic Miracle” was the title of another. All three nations are in deep crisis now." This article teaches us that nothing is stable, while also pointing-out some of the U.S. sad mistakes in perspective.
This particular article (Revenge of the Glut) was published in The New York Times, on March 1, 2009. The item was writtern as an attempt to answer the question of where our current economic situation came from. To do this, the author draws a line from the various economic situations of the past, to today. This article is directed torward a curious, open-minded, and politicaly-inclined sector of the American population, who, among themselves, pose some of the same questions as the author.
The basic aurguement Krugman wants to make is that America's entire current-day economic crises can be traced back to a time when everything seemed fairly fine. At one point in the article, Krugman states, "This may explain the almost eerie correlation between conservative praise two or three years ago and economic disaster today." In other words, what some people praised then, they now regret. Also interesting is this, "“Reforms have made Iceland a Nordic tiger,” declared a paper from the Cato Institute. “How Ireland Became the Celtic Tiger” was the title of one Heritage Foundation article; The Estonian Economic Miracle” was the title of another. All three nations are in deep crisis now." This article teaches us that nothing is stable, while also pointing-out some of the U.S. sad mistakes in perspective.
Assignment #6 DSinatra
Paul Krugman wrote this article that appeared in The New York Times. The article was written to help Americans make sense of how our current economic crisis all started.
We, apparently, shouldn't be at all surprised with the economic disaster we now find ourselves in. Ben Bernanke forshadowed what was to be in a speech he gave four years ago. Many countries, including the United States, were living for the here and now--living high on the hog so to speak. Since many didn't see the need to heed warnings of impending economic meltdown, they chose to ignore the fact that there would be consequences down the road. So now we see that most of us are wanting to save and not spend. This has caused the entire global economy to come to a screeching hault.
We, apparently, shouldn't be at all surprised with the economic disaster we now find ourselves in. Ben Bernanke forshadowed what was to be in a speech he gave four years ago. Many countries, including the United States, were living for the here and now--living high on the hog so to speak. Since many didn't see the need to heed warnings of impending economic meltdown, they chose to ignore the fact that there would be consequences down the road. So now we see that most of us are wanting to save and not spend. This has caused the entire global economy to come to a screeching hault.
assignment#6 H. VanDyke
In this article entitled Revenge of the glut by a man named paul Krugman who is a writter for the New York Times. The article talks about the global debt crisis and how it happened. This article was written to inform people about the global debt crisis and how it happened. The author points out a speech that Ben Bernanke who is the Federal reserve chairman a few years ago forshadowing what was to happen. The speech was entitled The Global Saving Glut and the US Current Account Deficit. In the speech Mr. Bernanke points out that the problem lied in Asia and that they had been importers of capital borrowing abroad to finance their development. and that most of the "glut" had gone to the United States. Asia had a financial crisis from 1997-98 which caused asia to export capital to the rest of the world. Most of the money went to the United States. The author points out that mr. bernanke said that the reason why this ended up in the United States was that the depth and the sophistication of the countries financial markets.
i think that like the author points out in the column that this can also be blamed on loosly regulated financial systems that is not asia's fault that is our own fault.
This was an interesting article about going back to how all of this got started and it was interesting to read about asia's involvment in the US economy. I think that it is a very informative article.
i think that like the author points out in the column that this can also be blamed on loosly regulated financial systems that is not asia's fault that is our own fault.
This was an interesting article about going back to how all of this got started and it was interesting to read about asia's involvment in the US economy. I think that it is a very informative article.
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