@CNBC tweeted this photo out today. 
Absolutely, a good call. But really, CNBC? You’re congratulating yourself for a prediction that has a HUGE qualifier like “I’m going out on a limb here…” especially considering most on your network screamed “BUY! BUY! BUY!” right before the meltdown. Don’t break your arm patting yourself on the back for the one time out of a million you were right.

@CNBC tweeted this photo out today. 

Absolutely, a good call. But really, CNBC? You’re congratulating yourself for a prediction that has a HUGE qualifier like “I’m going out on a limb here…” especially considering most on your network screamed “BUY! BUY! BUY!” right before the meltdown. Don’t break your arm patting yourself on the back for the one time out of a million you were right.

wwnorton

wwnorton:

WHAT HAPPENS WHEN YOU GRADUATE FROM COLLEGE INTO A BAD LABOR MARKET?

“You will never recover,” warns the Nobel prize-winning economist Paul Krugman citing evidence from past recessions in a recent interview with Bill Moyers on PBS. “By the time you get a chance to get a job that makes any use of your skills you will already be tarred…it just shadows your whole life.”

This video is just a four minute excerpt from the compelling forty-seven minute interview. Watch the entire discussion to learn more about the “hidden misery” of the current recession and why Krugman considers “food stamps are the soup kitchens of today.”

In his latest book, End This Depression Now!, Paul Krugman argues how national recovery could be felt in just two years. It’s available in paperback on January 28th.

Let`s start with fat cat. I`m glad he [Pres. Obama] used the word fat cat. It helped me go on a diet, I lost 30 pounds.

Let`s be blunt here. We had been called a lot of different things by a lot of different people. Whether he used that term or another term, it`s really meaningless, and what we have accomplished over the last four years, which now segues right into the Lehman weekend. No disrespect to everyone who talks about the Lehman weekend. I was one of the 12 individuals sitting there for the three days of the Lehman weekend. When Governor Romney or Congressman Ryan say, are we different than four years ago? I mean, come on. January 2009, we lost 800,000 jobs. The most in 60 years. OK? The stock market`s up since the president took office almost 100 percent. We have 500,000 more manufacturing jobs than we`ve had. That`s the best since the `90s. Our exports as a percent of GDP have been gaining double digits ever since he`s been in office. …

They all give the president grief about clarity. This is very straightforward. We could pass right now tax relief for 98 — the extension for 98 percent of this country. Let`s do it. Then let`s have the argument on the last 2 percent and see which way it goes, but let`s bring clarity to 98 percent of this country.
Robert Wolf, former president of UBS Bank on “Up with Chris Hayes” Sunday. 
If an elementary school student has an excellent teacher even for a single year, it boosts their income by an average of about 2 percent per year. To put that in perspective, if we can find a way to raise gross domestic product (GDP) by 2 percent, you’re talking about nearly ending the Great Recession every year. By economic standards, it’s a huge deal.
Raj Chetty, professor of economics at Harvard’s Faculty of Arts and Sciences and a co-author of the study with Harvard Kennedy School’s John Friedman and Columbia Business School’s Jonah Rockoff. (Harvard Gazette)