Frank Chow: Asian- American Political Pundit

If you want to know where Obama really went wrong look no further than Larry Summers. Atrios : Don't Listen To The Girlymaths Oh well . Romer had run simulations of the effects of stimulus packages of varying sizes: six hundred billion dollars, eight hundred billion dollars, and $1.2 trillion. The best estimate for the output gap was some two trillion dollars over 2009 and 2010. Because of the multiplier effect, filling that gap didn’t require two trillion dollars of government spending, but Romer’s analysis, deeply informed by her work on the Depression, suggested that the package should probably be more than $1.2 trillion. The memo to Obama, however, detailed only two packages: a five-hundred-and-fifty-billion-dollar stimulus and an eight-hundred-and-ninety-billion-dollar stimulus. Summers did not include Romer’s $1.2-trillion projection. The memo argued that the stimulus should not be used to fill the entire output gap; rather, it was “an insurance package against catastrophic...

Krugman poses a troubling and puzzling incite about the White House and its advisers. All the while he stumbles on a key point even he misses : Interesting back and forth between Brad DeLong and Noam Scheiber over the question of whether Democrats, possibly including the White House, really believed last summer that “[t]he stimulus was working more or less on schedule, and the job market was gradually recovering.” I guess it must have been true. But all I can say is, what were they thinking? There was ample warning, even before the severity of the crisis was clear, that the recession was likely to be followed by a prolonged jobless recovery. E.g., here (January 2008): I still keep reading articles asserting that the last two recessions were brief and shallow. Formally, that’s true. But … in both cases the employment slump went on for a long time after the recession was supposedly over. There’s every reason to think that the same thing will happen this time. There’s a huge overhang of e...

Helloooooo Thursday. It is Flash Forward night with the lady and I am excited. Tonight's episode seems to be revealing an important piece to the puzzle, who was behind the global blackout? We also found out that everyone is starting to get intertwined. I am still a big fan of John Cho and his characters inner struggle, the lady and I go back and forth about this, but his character's complex issue of figuring out who is going to murder him before they do has me on the edge of my couch. Looking forward to it and no worries I won't spoil anything by blogging about it. So you DVR's are safe PEOPLE! Anywho, the headlines are all a flames and I am all the rage, so let's get on with it shall we? Here are your highlights: HEY WALL ST. KARMA IS A BITCH! Halloween 2009, I get it you want to be funny, but this gets all kinds of racisty In Chicago Atheists can buy Billboards too The new dumb debate amongst the Elephants and Donkeys... WE SUPPORT OUR TROOPS! Nuh-uh we do....we...