ABOUT ME

 

Nick Ragone is an author, attorney and public relations executive in New York City. He earned a bachelor’s degree in history and political science from Rutgers University, and is a graduate of the Eagleton Institute of Political Science at Rutgers University (undergraduate) and the Georgetown University Law Center.

He is the author of three books: Essential American Government, Everything American Government, and President's Most Wanted. Nick is a regular contributor to the Fox News Channel and Fox Business, the PIX11 Morning Show, and has a weekly appearance on the popular Raph Bailey Radio Show.  He co-anchored PIX11's five-hour live inauguration coverage with Jim Watkins and Kaity Tong.

Nick is a contributor to Donklephant.com, one of the most influential political blogs on the web, and  has written for US News & World Report, The Star-Ledger, Real Simple Magazine and RealSimple.com.  Nick has been quoted in over two dozen stories on politics, the presidency, and public relations.  In December of 2007, Nick was named one of PR Week's 40 under 40 to watch, and in May of 2008 was featured in "Profiles of Success", a book about public relations. Nick lives in Jersey City, NJ, with his wife and two children, and spends what little free time he has obsessing on the Mets.

Nick can also be found on Facebook. http://www.facebook.com/profile.php?id=740817853


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« Some free advice for Robert Gibbs* | Main | Playing with fire »
Friday
Feb202009

Paul Krugman wants to wipe any semblence of a smile off your face

And if you weren't depressed enough over the moribund state of our economy, just read left-wing hack Nobel winning economist Paul Krugman's latest ditty ... it's more depressing than Mickey Rourke's face.

Here's a summary: we're f*cked.  The money passage:

"But my eye was caught by the following chilling passage (yes, things are so bad that the summarized musings of central bankers can keep you up at night): “All participants anticipated that unemployment would remain substantially above its longer-run sustainable rate at the end of 2011, even absent further economic shocks; a few indicated that more than five to six years would be needed for the economy to converge to a longer-run path characterized by sustainable rates of output growth and unemployment and by an appropriate rate of inflation."

He goes on to posit that even with the stimulus package -- which he strongly favored -- the economy likely won't recover until it reaches an utter standstill and there's nowhere left to go but up.  How long will that take? Who knows, but think 'years' instead of 'months'.  And it could be multiple years.

Sadly, he's probably correct.  The economy is going through a massive de-leveraging -- to the tune of several trillion dollars -- and it could be several years before we see growth again.  I don't think the stimulus package will have much impact, save at the margins ... Mr frumpy may be right:  brace for a bumpy road.

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