Worked great for Zimbabwe didn't it?
That'll get you a loaf of bread and a cup of coffee.
Posted on 01/31/2013 12:54:24 PM PST by Sub-Driver
Paul Krugman Answers Paul Ryan on Debt Crisis: We Can Print Money January 31, 2013 By Melanie Hunter
(CNSNews.com) – Responding to House Budget Chairman Paul Ryan's warning that if the federal government continues to run annual $1 trillion deficits we will eventually face a debt crisis, liberal economist and New York Times columnist Paul Krugman said Wednesday that that is not a legitimate worry because the U.S. government can always print money and weaken the buying power of the dollar.
Weakening the dollar, Krugman said, would be a good thing.
“The United States is a country that has its own currency--can’t run out of cash because we print the money. If you even try to think what would happen--suppose that investors get down on the United States. Even so, that would weaken the dollar, not send interest rates soaring, and that would be good. That would help our exports,” Krugman said on C-SPAN’s “Newsmakers.”
Krugman was asked whether he thought the U.S. was “in danger of a collapse, a stall, a crisis.”
“No, there’s a whole bunch of reasons why that’s not true. First of all ... that trillion dollar deficit is overwhelmingly the result of a depressed economy, and when the economy’s depressed, it’s good to run a deficit. You don’t want the government to try and balance its budget right now,” Krugman said.
C-SPAN showed a video of former GOP vice presidential candidate Rep. Paul Ryan (R-Wis.), speaking at the National Review Institute in Washington, D.C., on dangers of debt.
(Excerpt) Read more at cnsnews.com ...
Proving that yet another Nobel Committee has no idea whatsoever.
I don’t blame you. This is exasperating.
I thought this was satire, but no, it is real....
“You don’t want the government to try and balance its budget right now,” Krugman said”
Just. Frigging. Amazing.
Collectivism tends not to attract the most insightful among us.
And there it is.
The middle class shall pay off the taxes taht cant be collected from the rich and that aren’t paid by the poor.
This is why I oppose budgets based on increasing taxes on the wealthy.
They can avoid them which leaves but one class to pay the uncollected expected revenues: the middle class.
And we also don’t want to stop Iran from getting a nuke.
That would be crazy.
Every nation in the world wants to increase its exports.
This will not end well.
Krugman needs a “Degree-ectomy” as whomever educated him is guilty as sin for teaching him wrong...
http://www.youtube.com/watch?v=d696t3yALAY
Krugman is Wimp Lo, I think his teachers trained him completely wrong as a joke....
We can spend more money and increase the deficit and increase the money supply to finance the deficit by building pyramids. If that doesn't work, we can start blowing up buildings and then rebuilding them. We can flood whole cities.It all makes perfect sense to libtards.
Yes - you CAN print money.
Which will first be fed through bond-buying of the FED and their Wall Street and money-center banks, increasing their profits and bonuses (ie. making the politically-connected rich even richer)
Meanwhile you will increase the costs of all items, particularly every-day commodities for the middle class and poor. Wages will not rise with inflation, thus making the middle-class and poor, poorer.
You will also destroy the savings of workers and the elderly with artificially low interest rates. Again, making the poor even poorer.
You will also promote the welfare of Gov’t, its employees, and those who can successfuly lobby government - those who will be next in line for this money being spent, again to the detriment of everyone else.
This is WHY leaders like Thomas Jefferson and Andrew Jackson insisted on “hard money.” Fiat money can be printed at will by politicians, to benefit the governing and crony-capitalist class.
This is why Conservatives must insist on serious constraints on the Federal Reserve, or eliminating it altogether.
You have to be impressed. I am. Amazed, really.
Wow, we can just spend 1.3 trillion dollars in imaginary money every year, presto chango, with no repercussions. Whoever said there’s no free lunch?
I wish they'd just get on with it. I've been banking on inflation paying my mortgage for 15 years, now.
And I guess I don't have to remind you not to follow my investment advice.
And an Ivy League “education” is as worthless as a Nobel too.
Can you imagine spending $60k/year to have your child taught by this idiot?
Worked great for Zimbabwe didn't it?
That'll get you a loaf of bread and a cup of coffee.
Since Paul Krugman is the intellectual inspiration of Obama’s economic policy, he ought to release his medical records. His psychiatric history and current medications are matters of national importance.
Paul Krugman is a freaking moron. It continues to amaze me that people still listen to anything that falls out of his mouth. He has gone beyond ludicrous.
so they ADMIT they’re weakening the dollar...
that it’s a good thing...
and will continue into the foreseeable future.
that tells me one thing... buy anything that cannot be diluted
gold.
it’ll just be worth more in the future.
it also tells me to get long, fixed loans... as the value will diminish as time goes on (meaning it’ll take less time to make the same amount to pay the loan)
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