Major Nelson Parking©: Paul Krugman Explains How to End the Depression Now

30 April 2012

Paul Krugman Explains How to End the Depression Now

Listen to Paul Krugman's interview with Tom Ashbrook at:

http://onpoint.wbur.org/2012/04/30/paul-krugman-2/player

The On Point post explains: Nobel Prize-winning economist and policy warrior Paul Krugman is not shy about spelling out exactly what he thinks. And right now it’s this: Despite all the talk about “green shoots” and signs of recovery, the United States is, says Krugman, in an economic depression. The stimulus wasn’t enough to shake it. Austerity, here and abroad, is making it worse. Lives are being ruined.
And it’s going to stay bad until and unless we act. Krugman’s going after budget-cutters as blind. Ben Bernanke as part of the ‘the borg”.

A recent NY Times column: The Amnesia Candidate can be read at: http://www.nytimes.com/2012/04/23/opinion/krugman-the-amnesia-candidate.html

American economy Nobel Prize laureate Paul Krugman talks to journalists during a news conference before being awarded an Honoris Causa degree by Lisbon University, Lisbon Technical University and Lisbon Nova University Monday, Feb. 27, 2012 in Lisbon. (AP)

Paul Krugman, professor of Economics and International Affairs at the Woodrow Wilson School of Public and International Affairs at Princeton University. He is also an author and columnist at the New York Times. His latest book is End This Depression Now! An excerpt of the book was published in the New York Times Magazine here.

The New York Times “While the Fed went to great lengths to rescue the financial system, it has done far less to rescue workers. The U.S. economy remains deeply depressed, with long-term unemployment in particular still disastrously high, a point Bernanke himself has recently emphasized. Yet the Fed isn’t taking strong action to rectify the situation.”
Audio: Hear Federal Reserve Chairman respond to charges made in Krugman’s New York Times article.

Here is New York Times reporter Binyamin Appelbaum questioning Bernanke during a press conference at the Fed on April 25, 2012.

Washington Post “Bernanke is making two arguments here. First, he’s saying that the situation in the United States isn’t as bad as it was in Japan. “We are not in deflation.””

Business Week “Krugman’s own stance is clear. A Princeton University professor who won the 2008 Nobel Prize in economics, he’s best known as a New York Times columnist who hews to the teachings of John Maynard Keynes. “

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Why Major Nelson Parking?

No. This is not a blog about driving or parking, although I might occasionally take note of automobiles. Most often the topic is about Marketing; business, marketing psychology, finance, Social Media technology. Occasionally I'll indulge writing about popular culture the arts. The title is a reference from pop culture."Major Nelson Parking" is my way of explaining the optimal situation. It refers to the practice of a 1960s sitcom character who went to work each morning at NASA. Although his military rank was only that of a Major, he was somehow allowed to park his car at the busy front steps of NASA headquarters. As he would jump out of his car and dash, everyone else, including Generals and other higher ranking persons, were apparently walking in from that big parking lot somewhere off-camera.
What he had was a kind of parking nirvana that broke all the rules but seemed to be totally cool with everyone else... even the fire department.
So "Major Nelson Parking", in terms of a blog, is the breaking all marketing rules that would dictate doing a "niche audience" blog. Instead the blog will veer off to any place that looks of interest and park some thoughts on it... (but without blocking fire access). It's akin to a 20th century general interest magazine...the kind of publication that thrived when Major Nelson was traveling to that unlikely parking spot.