Krugman (yes, the nobel laureate) : "Erin Go Broke "

[BodyofEvidence]

Well, having succeeded in ignoring the local economic community the two Brians can now go large, ignoring nobel laureates

The New York Times > Log In

Some choice wee clippeens...

“What,” asked my interlocutor, “is the worst-case outlook for the world economy?” It wasn’t until the next day that I came up with the right answer: America could turn Irish.

And the troubles of the banks are largely responsible for putting the Irish government in a policy straitjacket.

Is Ireland’s government doing the right thing? As I read the debate among Irish experts, there’s widespread criticism of the bank plan, with many of the country’s leading economists calling for temporary nationalization instead. (Ireland has already nationalized one major bank.) The arguments of these Irish economists are very similar to those of a number of American economists, myself included, about how to deal with our own banking mess.

And the lesson of Ireland is that you really, really don’t want to put yourself in a position where you have to punish your economy in order to save your banks.

over to the spin cycle....

[seabhcan]

In fairness, if economists knew anything we wouldn't be in this mess in the first place.

[BodyofEvidence]

In fairness, if economists knew anything we wouldn't be in this mess in the first place.

Seabhcan - thats bogus as well you know. Critique them for hindsight, for hubris or for in some cases wilful blindness. I will hold your coat. But this sort of tosh merely plays in to the hands of the two brians who trot out this tripe regularly.
What you are doing is falling int the "blame the messenger" trap.

[Gimpanzee]

Ouch. The thing about Krugmann is that no one can level the charge of being biased/anti-Irish/anti-euro etc.. The article isn't even about Ireland.

[seabhcan]

Seabhcan - thats bogus as well you know. Critique them for hindsight, for hubris or for in some cases wilful blindness. I will hold your coat. But this sort of tosh merely plays in to the hands of the two brians who trot out this tripe regularly.
What you are doing is falling int the "blame the messenger" trap.

When the 'economists' were saying everything was fine and dandy I didn't agree with them and I said we were in for a rough couple of years. Now, following the mood of the times, the 'economists' say we are doomed to bankruptsy. I don't see it. I think we'll just have a rough couple of years and we will get over it.

[Lulu84]

Considering how much Obama is ignoring Krugman at the moment, it's doubtful whether the two Brian's are going to feel compelled to listen to him.

[BodyofEvidence]

Considering how much Obama is ignoring Krugman at the moment, it's doubtful whether the two Brian's are going to feel compelled to listen to him.

Not sure Obama is ignoring him - not as kenyesian as Krugman, but then few are.
And, even if he were, would that be sufficient for the two Brians here to ignore what all are saying?

[BodyofEvidence]

When the 'economists' were saying everything was fine and dandy I didn't agree with them and I said we were in for a rough couple of years. Now, following the mood of the times, the 'economists' say we are doomed to bankruptsy. I don't see it. I think we'll just have a rough couple of years and we will get over it.

ok - dont wanna drag the situation off topic but who is saying we are doomed to Bankruptcy (apart from Dan "buy the economist" O'Brien? And Mr Floppyhair. Show me a signatory to the 20 economists letter that has said we are "dooomed, dooomeeed".

Bottom Line : we are doom-ier if we do the banks wrong, and NAMA is wrong....

[misterX]

When the 'economists' were saying everything was fine and dandy I didn't agree with them and I said we were in for a rough couple of years. Now, following the mood of the times, the 'economists' say we are doomed to bankruptsy. I don't see it. I think we'll just have a rough couple of years and we will get over it.

dangerously optimistic..... given all that is happening in the country with banks, property, inept government, poor communications infrastructure, a lacklustre education system, a poor health system etc. etc..

what makes you think we'll only have a rough 'couple of years'?

[lostexpectation]

is krugman gaming ireland