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asmith
Joined: 18 Jun 2009
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 Posted: Wed Oct 14, 2009 5:28 pm Post subject: Today's Korean Herald |
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On page 2 or 3, there is an article with Paul Krugman talking about the Korean economy.
He says that Korea is greatly at risk for a double-dip recession due to the lack of demand in the export market.
Krugman is an idiot who couldn't find his azz with both hands.
But, regarding this issue, he's right.
One more thing. Krugman says the global economy is in for a lost decade with high unemployment rates.
Again, he's right.
Too bad he couldn't see the subprime housing crisis coming.
They must be giving Nobel Prizes to anyone these days.
Last edited by asmith on Wed Oct 14, 2009 5:45 pm; edited 1 time in total |
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Moldy Rutabaga
Joined: 01 Jul 2003
Location: Ansan, Korea
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| Posted: Wed Oct 14, 2009 5:40 pm Post subject: |
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| Good article. Krugman is probably right that this decade will economically be an anemic one. "Even a blind squirrel finds some nuts." |
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nathanrutledge
Joined: 01 May 2008
Location: Marakesh
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| Posted: Wed Oct 14, 2009 6:06 pm Post subject: |
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He's pushing a political agenda.
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| We are seeing a bounce in world trade, which is what is driving the Korean economy. And that bounce may not be sustained. In fact, my guess is that it will at least slow down quite a lot |
His guess? Why? Basic economic theory is that recessions are self fulfilling. You hear that a recession is coming, you stop spending and start saving. You don't spend, your neighbor loses his job, so he stops spending and you lose your job. The circle continues until in the end, you have no choice but to spend your money, which means that other people have your money and they spend theirs and it slowly works back to normalcy.
So, why is the global economy going to slow down again? Why did it slow in the first place? The housing market in the US collapsed. Commodity prices were high. Well, the housing market is recovering, commodities are down. What is this new force that will pull the economy down again?
He's pushing a political agenda. Probably for Japan, badmouthing Korea like that.  |
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eIn07912
Joined: 06 Dec 2008
Location: seoul
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| Posted: Wed Oct 14, 2009 6:40 pm Post subject: Re: Today's Korean Herald |
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| asmith wrote: |
On page 2 or 3, there is an article with Paul Krugman talking about the Korean economy.
He says that Korea is greatly at risk for a double-dip recession due to the lack of demand in the export market.
Krugman is an idiot who couldn't find his azz with both hands.
But, regarding this issue, he's right.
One more thing. Krugman says the global economy is in for a lost decade with high unemployment rates.
Again, he's right.
Too bad he couldn't see the subprime housing crisis coming.
They must be giving Nobel Prizes to anyone these days. |
You and the lunatic fringe wing economist gods you worship didn't see it coming either. |
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asmith
Joined: 18 Jun 2009
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| Posted: Wed Oct 14, 2009 7:40 pm Post subject: Re: Today's Korean Herald |
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| eIn07912 wrote: |
| asmith wrote: |
On page 2 or 3, there is an article with Paul Krugman talking about the Korean economy.
He says that Korea is greatly at risk for a double-dip recession due to the lack of demand in the export market.
Krugman is an idiot who couldn't find his azz with both hands.
But, regarding this issue, he's right.
One more thing. Krugman says the global economy is in for a lost decade with high unemployment rates.
Again, he's right.
Too bad he couldn't see the subprime housing crisis coming.
They must be giving Nobel Prizes to anyone these days. |
You and the lunatic fringe wing economist gods you worship didn't see it coming either. |
Lots of people saw it coming.
Peter Schiff. Gerald Celente. Marc Faber. Jim Rogers. Max Keiser.
That's a matter of record.
http://www.youtube.com/watch?v=c8nrZthYbNM
Last edited by asmith on Wed Oct 14, 2009 7:45 pm; edited 1 time in total |
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nathanrutledge
Joined: 01 May 2008
Location: Marakesh
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| Posted: Wed Oct 14, 2009 7:45 pm Post subject: |
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| Well, when you scream wolf often enough, you're bound to be right once. |
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kinerry
Joined: 01 Jun 2009
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| Posted: Wed Oct 14, 2009 7:55 pm Post subject: Re: Today's Korean Herald |
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| asmith wrote: |
| eIn07912 wrote: |
| asmith wrote: |
On page 2 or 3, there is an article with Paul Krugman talking about the Korean economy.
He says that Korea is greatly at risk for a double-dip recession due to the lack of demand in the export market.
Krugman is an idiot who couldn't find his azz with both hands.
But, regarding this issue, he's right.
One more thing. Krugman says the global economy is in for a lost decade with high unemployment rates.
Again, he's right.
Too bad he couldn't see the subprime housing crisis coming.
They must be giving Nobel Prizes to anyone these days. |
You and the lunatic fringe wing economist gods you worship didn't see it coming either. |
Lots of people saw it coming.
Peter Schiff. Gerald Celente. Marc Faber. Jim Rogers. Max Keiser.
That's a matter of record.
http://www.youtube.com/watch?v=c8nrZthYbNM |
Try some Robert Kiyosaki, his stuff is about as accurate as it can get. He predicts some much worse things to come, though. |
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buildbyflying
Joined: 01 Sep 2004
Location: To your right. No, your other right.
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| Posted: Wed Oct 14, 2009 8:45 pm Post subject: |
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| I'd like to read the Krugman article. Anyone got a link? Or is it only on paper, in which case, o'well... |
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Moldy Rutabaga
Joined: 01 Jul 2003
Location: Ansan, Korea
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