Thursday, October 25, 2012

But Romney is a Keynesian!

As Paul Krugman put it, Romney is a "weaponized Keynesian"

From Romney's book, No Apology:
...every stimulus should be crafted with care and exactitude; every dollar should immediately create jobs, encourage business expansion, or provide for essential needs such as equipment for our troops at war.

4 comments:

  1. I'd say this....
    "every stimulus should be crafted with care and exactitude; every dollar should immediately create jobs, encourage business expansion, or provide for essential needs"

    sounds better than this....
    http://pjmedia.com/instapundit/155461/

    if we're only talking about the economy. Sure, there are other issues.

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  2. Also from the article:

    ...."We recognize and are grateful for the extraordinary contribution President Obama made to Michigan in leading the rescue of General Motors and Chrysler...."

    These people are really, really confused.

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  3. Of course Romney is a Keynesian, just as were Nixon (he admitted it), Reagan (he would not admit it but he almost tripled the national debt), and Bush II ("deficits don't matter" -- actually the quote is Cheney's but the policies Bush).

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  4. Looks like the Trump attack waa a damp squib.
    Now it appears the Allred one was the same.
    ace.mu.nu/archives/334232.php
    Romney didn't testify at her [Stemberg's] divorce -- there was no hearing on it.

    Rather, he testified in 1991, when the Former Mrs. Stemberg sought to re-litigate her original settlement. Romney was called in to talk about the value of the 500,000 shares in Staples she received. Or Stemberg's net worth. Something like that.

    Her theory was that Stemberg had put up Romney to deliberately lowball the value of Staples. Like I've noted, this makes no sense -- if Staples stock isn't worth all that much, than The Former Mrs. Stemberg's shares from the settlement are worth less, and that increases the chances a judge would agree that the original settlement was unfair, and put it aside.

    But whatever. Her claim rests on the idea that Romney knew Staples would grow in value, but lied about.

    Here's the problem: As an initial investor, Romney had the option to buy a lot of Staples stock. If he really thought Staples were a surefire hit, he'd have exercised all those options, and bought as much stock as he was legally entitled to.

    He didn't. He said Staples could grow, or could fail, because, apparently, he believed it could grow, or could fail. Thus he hedged his own bets, buying some Staples stock, but not as much as he was entitled to.

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