Bill Mitchell — Sachs v Krugman – No contest, Krugman wins

There was an interesting article written by one Jeffrey Sachs, whose only notoriety, despite his own self-promotion, is that he was the principle promoter of the ridiculous doctrine of – Shock Therapy – which systematically ruined the nations it was applied to under the aegis of IMF structural reform. The latest article (January 6, 2015) – Paul Krugman has got it wrong on austerity – published by the UK Guardian, is a direct attack on Paul Krugman. I have no interest in defending Paul Krugman (nor would he be interested in such a defense). Rather, my interest is that Sach’s intervention is one of a growing number of articles that claim that austerity has worked! An extraordinary new historical revisionism is underway. The conservatives always try to rewrite history to suit themselves. This is the latest version of that long-standing exercise and deception....

Bill takes Jeff to the woodshed.

Bill Mitchell – billy blog
Sachs v Krugman – No contest, Krugman winsBill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at the Charles Darwin University, Northern Territory, Australia

Ria Novosti — Whitewashing Nazis in Eastern Europe Equate Nazism to Communism: Simon Wiesenthal Center director

Eastern Europeans, who attempt to whitewash Nazi war crimes, try to liken Nazism to communism to create an illusion that the Soviet Union is as responsible for what happened during World War II as the Third Reich, Ephraim Zuroff, director of the Simon Wiesenthal Center, warned in a discussion hosted by Radio VR’s moderator Dmitry Babich.…

The expert dwelled upon the situation in Ukraine with respect to the rehabilitation of Nazism. He underlined that the current Ukrainian government is sending the wrong message to its people. “Just a few days ago, the Ukrainian president [Petro Poroshenko] called members of the Ukrainian Insurgent Army (UPA) heroes. One may remember how [Nazi collaborator Roman] Shukhevich was posthumously honored by Yushchenko’s government. The presidential decree was revoked by the Yanukovich administration, but still this is a problem in Ukraine,” Zuroff said. 

If UPA members are considered heroes and statements to this effect are made by the government, then “this is definitely a wrong message,” the expert insisted. Zuroff also said he was concerned about education in Ukraine. “If the children in Ukraine are taught that Shukhevich is a hero and Stepan Bandera is a hero, that is a huge problem!” he said.

Ria Novosti
Whitewashing Nazis in Eastern Europe Equate Nazism to Communism: Expert

More Crazy

Fox attempts to fix its plunging ratings and look what happens.

AlterNet
Tea Partyers Boycott Fox News for Being Too “Left”
Jillian Rayfield | Salon.com

DS: "The new deal was a political gong show, not a golden era of enlightened economic policy. It shattered the foundation of sound money and inaugurated a régime of capricious fiscal and regulatory activism that inexorably fueled the growth of state power and the crony capitalism which thrives on it. But it did not end the Great Depression or save capitalism from the alleged shortcomings which led to the crash. In fact, the New Deal introduced a severe dose of economic nationalism and autarky at a time when the only hope for speedy recovery was a reopening of world trade and reestablishment of a stable international monetary régime.... in reality, the notion that the New Deal had pioneered a road map to recovery by means of countercyclical fiscal policy is mostly a postwar academic legend."

Zero Hedge
David Stockman On The New Deal Myths Of Recovery