Paul Krugman’s Economic Blinders by Michael Hudson

by Michael Hudson
Featured Writer
Dandelion Salad

http://michael-hudson.com

May 14, 2012

Image by swanksalot via Flickr

Paul Krugman is widely appreciated for his New York Times columns criticizing Republican demands for fiscal austerity. He rightly argues that cutting back public spending will worsen the economic depression into which we are sinking. And despite his partisan Democratic Party politicking, he warned from the outset in 2009 that President Obama’s modest counter-cyclical spending program was not sufficiently bold to spur recovery.

These are the themes of his new book, End This Depression Now. In old-fashioned Keynesian style he believes that the solution to insufficient market demand is for the government to run larger budget deficits. It should start by giving revenue-sharing grants of $300 billion annually to states and localities whose budgets are being squeezed by the decline in property taxes and the general economic slowdown.

Iran War Path Resumed, With Another ‘Colin Powell Moment’? by Finian Cunningham

by Finian Cunningham
Featured Writer
Dandelion Salad
East Africa
May 15, 2012

You know when Western powers are getting trigger happy towards Iran again because the mainstream media propaganda machine starts cranking out lurid scare stories.

The latest wheeze is based on “computer-generated drawings” allegedly depicting a nuclear explosion blast chamber that Iran has allegedly been using to test mini nukes. The drawings were provided “exclusively” to the Associated Press news agency by an unnamed official from “a country tracking Iran’s nuclear program, who said it proves [sic] the structure exists”.