Keyword: krugman

Brevity: Headers | « Text »
  • Captain Paul Krugman, Titanic

    10/25/2011 10:16:06 AM PDT · by Kaslin · 2 replies ^ | October 25, 2011 | Mike Shedlock
    True to form, Paul Krugman does not understand the difference between problems and solutions in Europe any more than he does in the US. In Deck Chairs, Titanic Krugman states ... OK, yes, European banks do need more capital. But their problems are a symptom of the underlying sovereign debt problem, which can only be resolved, if at all, with ECB lending AND a commitment to reflate. Without that, the losses on sovereign debt will blow right through any amount of newly raised bank capital. The housing bubble came from the Fed's unwillingness to let the recession of 2001 play out...
  • Lost In The Pointless Forest, Without A Point Of View

    10/08/2011 7:16:40 AM PDT · by Starman417 · 6 replies
    Flopping Aces ^ | 10-07-11 | Skookum
    The OWS Is A Celebration Of The Ongoing Train Wreck Of The Obama Presidency In a cartoonish caricature of himself, columnist Paul Krugman, of the NYT, has written a rambling and unfocused apology for the incoherence of the Occupy Wall Street comedy, in a lame attempt to steal the energy of the mindless mob. Borrowing the first two lines from a popular 1967 song, by Stills of Buffalo Springfield, Krugman begins his clownish attempt of a unifying message for the mob by clumsily injecting his personal prejudices in a vague but obvious method, thereby parroting a nonexistent voice of leadership...
  • Confronting the Malefactors

    10/08/2011 5:24:02 AM PDT · by matt04 · 5 replies
    The New York Times ^ | Oct 6, 2011 | Paul Krugman
    There’s something happening here. What it is ain’t exactly clear, but we may, at long last, be seeing the rise of a popular movement that, unlike the Tea Party, is angry at the right people. When the Occupy Wall Street protests began three weeks ago, most news organizations were derisive if they deigned to mention the events at all. For example, nine days into the protests, National Public Radio had provided no coverage whatsoever. It is, therefore, a testament to the passion of those involved that the protests not only continued but grew, eventually becoming too big to ignore. With...
  • The Bleeding Cure (Paul Krugman says we're killing our economy with austerity)

    09/19/2011 1:18:11 PM PDT · by SeekAndFind · 32 replies
    New York Slimes ^ | 09/19/2011 | Paul Krugman
    Doctors used to believe that by draining a patient’s blood they could purge the evil “humors” that were thought to cause disease. In reality, of course, all their bloodletting did was make the patient weaker, and more likely to succumb. Fortunately, physicians no longer believe that bleeding the sick will make them healthy. Unfortunately, many of the makers of economic policy still do. And economic bloodletting isn’t just inflicting vast pain; it’s starting to undermine our long-run growth prospects. Some background: For the past year and a half, policy discourse in both Europe and the United States has been dominated...
  • What Consensus?

    09/14/2011 4:26:30 PM PDT · by radioone · 4 replies
    Boston Review ^ | December/January 1996-97 | Paul Krugman
    I don't want to seem to quibble with Richard Freeman's essay, since I am overwhelmingly in agreement with it. Let me just make a few points. I like Freeman's idea of providing each individual with a trust fund when young rather than retirement benefits when old, but we had better realize that this is a significant change in the character of the social insurance system. Social Security is structured from the point of view of the recipients as if it were an ordinary retirement plan: what you get out depends on what you put in. So it does not look...
  • Paul Krugman identified Social Security as a Ponzi Scheme in the late 1990's.

    09/14/2011 3:34:36 PM PDT · by SideoutFred · 8 replies
    Boston Review ^ | 1996-97 | Paul Krugman
    I like Freeman's idea of providing each individual with a trust fund when young rather than retirement benefits when old, but we had better realize that this is a significant change in the character of the social insurance system. Social Security is structured from the point of view of the recipients as if it were an ordinary retirement plan: what you get out depends on what you put in. So it does not look like a redistributionist scheme. In practice it has turned out to be strongly redistributionist, but only because of its Ponzi game aspect, in which each generation...
  • Blast From Paul Krugman's Past: "Social Security Is A Ponzi Scheme And Will Soon Be Over"

    09/13/2011 9:11:10 PM PDT · by Squeeky · 16 replies
    ZeroHedge ^ | Sept. 13, 2011 | Tyler Durden
    It is one thing (what thing that is we are not sure, but we have heard others say it, so like all good lemmings we will say it too) for Rick Perry to call Social Security a ponzi scheme. After all he is some crazy, foaming in the mouth conservative, as uber-Keynesian liberal Paul Krugman may call him. And that's fine. What confuses us, however, is why Social Security would be called a ponzi by the same liberal noted previously: none other than Paul Krugman himself. Exhibit A, from a distant 1997, which perhaps one would have expected to remain...
  • History's Smallest Monster (aka Krugman)

    09/12/2011 3:29:57 PM PDT · by MontaniSemperLiberi · 9 replies
    wsj ^ | SEPTEMBER 12, 2011 | Taranto
    At 8:41 a.m. on Sept. 11, 2011, former Enron adviser Paul Krugman, star columnist of the New York Times, had something he wanted to say: "Is it just me, or are the 9/11 commemorations oddly subdued?" Krugman began his post on the Times website yesterday morning. "Actually, I don't think it's me, and it's not really that odd." So far, so obvious. Of course the commemorations are subdued. Altogether, just under 3,000 people died in the coordinated attacks of 9/11: at the trade center, whose south tower was hit 17 minutes later; at the Pentagon, and in a field in...
  • Ivory Tower Hate

    09/12/2011 3:11:07 PM PDT · by Shout Bits · 11 replies
    Shout Bits Blog ^ | 09/12/2011 | Shout Bits
    Princeton Professor Paul Krugman's ugly New York Times blog on the post 9/11 environment stopped short of accusing Pres. Bush of masterminding the attacks, but it did accuse Bush and his associates of cashing in on the tragedy, of being "fake heroes." If nothing else, the timing was hateful – the very week when the former President was called on to emerge from relative obscurity to lend gravity to the memorial ceremonies. Krugman's hate cannot hold a candle to retired MIT professor, and radical anti-American, Noam Chomsky's article in Al Jazeera. Chomsky goes a step further to condemn the US...
  • PAUL KRUGMAN: The Years of Shame

    09/11/2011 8:30:49 AM PDT · by SomeCallMeTim · 93 replies
    The New York Times ^ | September 11, 2011 | Paul Krugman
    September 11, 2011, 8:41 am The Years of Shame ... The memory of 9/11 has been irrevocably poisoned; it has become an occasion for shame. And in its heart, the nation knows it. I’m not going to allow comments on this post, for obvious reasons.
  • After reading Krugman’s 9/11 piece, Rumsfeld cancels subscription to New York Times

    09/12/2011 7:49:22 AM PDT · by SanFranDan · 22 replies ^ | 9/12/11 | Donald Rumsfeld
    After reading Krugman’s repugnant piece on 9/11, I cancelled my subscription to the New York Times this AM. Twitter via Drudge
  • Rumsfeld Cancels New York Times subscription over 'repugnant' Krugman piece

    09/12/2011 7:55:13 AM PDT · by KansasGirl · 57 replies · 1+ views
    Twitter via Drudge Report ^ | 9/12/11 | Rumsfeld
    After reading Krugman’s repugnant piece on 9/11, I cancelled my subscription to the New York Times this AM.--Donald Rumsfeld 52 minutes ago
  • Paul Krugman is Insane

    09/12/2011 5:43:29 AM PDT · by Kaslin · 49 replies ^ | September 12, 2011 | John Ransom
    We always knew that Krugman couldn’t add or subtract. As an economist, the guy is a terrific writer. And fantasy is his genre. But the fact that he thinks that we’ve all been secretly ashamed of our reactions to 9/11 for the last ten years should be enough to place him in observation for indulging in too much fantasy. “What happened after 9/11 — and I think even people on the right know this, whether they admit it or not,” writes Krugman as his sick 9/11 tribute, “was deeply shameful. The atrocity should have been a unifying event, but instead...
  • Stuff I've Learned Recently

    09/12/2011 5:18:33 AM PDT · by Repulican Donkey · 26 replies
    Repulican Donkey
    FR has helped me learn some important stuff.
  • The Years of Shame (Giuliani, Bush Shamefully Cashed In on the Horror)[UNBELIEVABLE!!]

    09/11/2011 7:04:13 AM PDT · by 2ndDivisionVet · 128 replies
    The New York Times ^ | September 11, 2011 | Paul Krugman
    Is it just me, or are the 9/11 commemorations oddly subdued? Actually, I don’t think it’s me, and it’s not really that odd. What happened after 9/11 — and I think even people on the right know this, whether they admit it or not — was deeply shameful. Te atrocity should have been a unifying event, but instead it became a wedge issue. Fake heroes like Bernie Kerik, Rudy Giuliani, and, yes, George W. Bush raced to cash in on the horror. And then the attack was used to justify an unrelated war the neocons wanted to fight, for all...
  • The Fatal Distraction (Calls for another stimulus)

    09/06/2011 8:58:16 AM PDT · by 2ndDivisionVet · 17 replies
    The New York Times ^ | September 4, 2011 | Paul Krugman
    Friday brought two numbers that should have everyone in Washington saying, “My God, what have we done?” One of these numbers was zero — the number of jobs created in August. The other was two — the interest rate on 10-year U.S. bonds, almost as low as this rate has ever gone. Taken together, these numbers almost scream that the inside-the-Beltway crowd has been worrying about the wrong things, and inflicting grievous harm as a result. Ever since the acute phase of the financial crisis ended, policy discussion in Washington has been dominated not by unemployment, but by the alleged...
  • Actual comment on Paul Krugman's "Fatal Distraction" column at the New York Times

    09/05/2011 7:54:29 AM PDT · by toma29 · 9 replies
    Useful Info Nation ^ | 9/5/2011 | Thomas Bryan
    The commenter in question, mivogo, seems to think if only people would allow vandals to break all of their windows and they are forced to spend money to fix them, it's a stimulus to the economy. And anybody that's against that wants to destroy you: When someone vandalizes your home you must spend money to restore its value, and anyone who admonishes "You're going to waste MORE money? Shame on you!" is either stupid or wants to destroy you. The Republicans aren't stupid. These are the people who agree that Krugman, former Enron consultant, is an economic genius. Liberalism is...
  • Paul Krugman: Obama's Wimp-Out On Ozone Will Actually Hurt The Economy

    09/03/2011 7:56:47 PM PDT · by SeekAndFind · 42 replies
    Business Insider ^ | 09/02/2011 | Henry Blodget
    Late this week, President Obama stunned the EPA and environmentalists by dropping plans to tighten Bush-era ozone standards. His logic? Tighter rules would increase the "regulatory burden" that Republicans blame for the crappy economy. Paul Krugman says this is yet another example of Obama wimping out in the hopes that Republicans will stop attacking him. He also argues that the move will actually hurt the economy. Why will not tightening ozone rules hurt the economy? Because tighter rules, Krugman argues, would have forced companies to spend money to improve their pollution control equipment. This spending would have boosted the revenue...
  • Krugman: Broken Windows, Ozone, and Jobs (HURL!)

    09/03/2011 7:16:33 AM PDT · by maggief · 25 replies
    New York Times ^ | September 3, 2011 | Paul Krugman
    I’ve actually been avoiding thinking about the latest Obama cave-in, on ozone regulation; these repeated retreats are getting painful to watch. For what it’s worth, I think it’s bad politics. The Obama political people seem to think that their route to victory is to avoid doing anything that the GOP might attack — but the GOP will call Obama a socialist job-killer no matter what they do. Meanwhile, they just keep reinforcing the perception of mush from the wimp, of a president who doesn’t stand for anything. Whatever. Let’s talk about the economics. Because the ozone decision is definitely a...
  • What the Heck is Wrong With You People?

    08/24/2011 11:09:20 AM PDT · by Stoutcat · 15 replies
    Grand Rants ^ | 08-24-11 | Stoutcat
    Yes, you. You know who you are. You’re liberal; an academic, perhaps, or a writer/journalist/opinion-shaper of some sort. You spout the liberal line (I’m not really sure whether you really believe it, or just realize that it’s a good gig that pays well) to your adoring audience, who gobble it up and regurgitate it to others ad nauseum. This I can deal with. What I cannot deal with, what I cannot comprehend, is the dangerous mentality that sometimes accompanies basic liberal elite thinking. The mentality that actively wishes harm on our country and its citizens–all in the name of progress,...
  • Liberal Paul Krugman: A Massive, Destructive Earthquake would be Great for the Economy

    08/24/2011 5:27:39 AM PDT · by therightliveswithus · 36 replies
    Pundit Press ^ | 8/24/11 | Aurelius
    I do not know if I have ever read anything so stupid, but what would you expect from Paul Krugman? From Google+: If you aren't an idiot, this is a very clear case of the "Parable of the broken window." Here is the original text outlining the idea. Unfortunately, Mr. Krugman is apparently illiterate or simply a moron: Suppose it cost six francs to repair the damage, and you say that the accident brings six francs to the glazier's trade—that it encourages that trade to the amount of six francs—I grant it; I have not a word to say against...
  • Krugman(?): If only the earthquake had done more damage, the economy would have gotten a boost

    08/23/2011 7:48:47 PM PDT · by RobinMasters · 45 replies
    Hot Air ^ | August 22, 2011 | ALLAHPUNDIT
    Via Timothy Carney, this appears to be real. Is it real or just a goof? Kevin Williamson isn’t sure and neither am I, but given that this is the same guy who fantasized recently about the Keynesian awesomeness of an alien invasion, it’s at least a toss-up. All day long I’ve felt relieved that the quake caused only very minor damage, but now suddenly I’m bummed that the Brooklyn Bridge didn’t fall into the river. Maybe we can get DHS or the NYPD to blow it up? That’s a few thousand jobs right there.
  • Paul Krugman Calls for Space Aliens to Attack Earth

    08/14/2011 5:11:59 PM PDT · by mandaladon · 41 replies
    NewsBusters ^ | 14 Aug 2011 | Noel Sheppard
    Oh those whacky liberals. On Sunday's "Fareed Zakaria GPS," New York Times columnist - and, ahem, Nobel laureate - Paul Krugman actually advocated space aliens attack earth thereby requiring a massive defense buildup by the United States that would stimulate the economy (video follows with transcript and commentary): KENNETH ROGOFF, PROFESSOR OF ECONOMICS, HARVARD UNIVERSITY: Infrastructure spending, if it were well-spent, that's great. I'm all for that. I'd borrow for that, assuming we're not paying Boston Big Dig kind of prices for the infrastructure. FAREED ZAKARIA, HOST: But even if you were, wouldn't John Maynard Keynes say that if you...
  • Paul Krugman calls for dictatorship

    08/01/2011 6:28:27 AM PDT · by reaganaut1 · 39 replies
    August 1, 2011 | me
    Paul Krugman's latest NYT column, "The President Surrenders", already has an FR thread, but I want to call attention to the last paragraph: "What Republicans have just gotten away with calls our whole system of government into question. After all, how can American democracy work if whichever party is most prepared to be ruthless, to threaten the nation’s economic security, gets to dictate policy? And the answer is, maybe it can’t." Paul Krugman and the NYT believe our political system, with its checks and balances, should be gutted when it produces results they disfavor. Who are the "extremists"?
  • Paul Krugman: The President Surrenders

    07/31/2011 9:25:53 PM PDT · by 2ndDivisionVet · 96 replies
    The New York Times ^ | July 31, 2011 | Paul Krugman
    A deal to raise the federal debt ceiling is in the works. If it goes through, many commentators will declare that disaster was avoided. But they will be wrong. For the deal itself, given the available information, is a disaster, and not just for President Obama and his party. It will damage an already depressed economy; it will probably make America’s long-run deficit problem worse, not better; and most important, by demonstrating that raw extortion works and carries no political cost, it will take America a long way down the road to banana-republic status. Start with the economics. We currently...
  • The Cult That Is Destroying America: Obama Is Actually a Moderate Conservative President

    07/27/2011 1:19:42 PM PDT · by pabianice · 16 replies
    New York Fishwrap ^ | 7/27/11 | Krugman
    Watching our system deal with the debt ceiling crisis — a wholly self-inflicted crisis, which may nonetheless have disastrous consequences — it’s increasingly obvious that what we’re looking at is the destructive influence of a cult that has really poisoned our political system. And no, I don’t mean the fanaticism of the right. Well, OK, that too. But my feeling about those people is that they are what they are; you might as well denounce wolves for being carnivores. Crazy is what they do and what they are. No, the cult that I see as reflecting a true moral failure...
  • Krugman: Conservative Views About Debt Ceiling Should Be Censored From News Reports

    New York Times columnist Paul Krugman on Tuesday said it was a "moral issue" for the press to censor conservative views about the debt ceiling.
  • The Cult That Is Destroying America (Krugman :"Obama is a conservative")

    07/26/2011 8:32:13 PM PDT · by sickoflibs · 77 replies
    NY times Opinion ^ | July 26, 2011 | Paul Krugman
    Watching our system deal with the debt ceiling crisis — a wholly self-inflicted crisis, which may nonetheless have disastrous consequences — it’s increasingly obvious that what we’re looking at is the destructive influence of a cult that has really poisoned our political system. And no, I don’t mean the fanaticism of the right. Well, OK, that too. But my feeling about those people is that they are what they are; you might as well denounce wolves for being carnivores. Crazy is what they do and what they are. No, the cult that I see as reflecting a true moral failure...
  • Krugman in the NYT on Obama: "What a Disaster".

    07/24/2011 6:53:32 PM PDT · by GlockThe Vote · 138 replies
    NYT ^ | July 24 2011 | Paul Krugman
    July 24, 2011, 10:11 AM President Pushover Updated: Drew article now available. The redoubtable Elizabeth Drew has a forthcoming article in the New York Review of Books — not yet online — that confirms all our worst fears. She tells us that past concessions have established in both Democrats’ and Republicans’ minds the thought that Obama was a weak negotiator—a “pushover.” He was more widely seen among Democrats and other close observers as having a strategy of starting near where he thinks the Republicans are—at the fifty-yard line—and then moving closer to their position. Even more alarming, however, is her...
  • Marxist Krugman: Conceder In Chief (Does the rookie Hussein really know what he's doing?)

    07/22/2011 7:17:27 AM PDT · by Libloather · 23 replies · 1+ views
    NY Times ^ | 7/22/11 | Paul Krugman
    Conceder In ChiefPaul Krugman July 22, 2011, 9:01 am Amanda Marcotte is right: of course the big problem is the craziness of the GOP. That said, I am among those in a state of suppressed rage and panic over the president’s negotiating strategy. I’d like to believe that it’s all 11-dimensional political chess; but at this point — after the midterm debacle, after the big concession on taxes without even getting a raise in the debt limit — what evidence do we have that Obama knows what he’s doing? It’s very hard to avoid the impression that three things are...
  • Getting to Crazy (typical gag - uberleftist Krugman never mentions the $14.5 TRILLION debt)

    07/17/2011 10:58:21 AM PDT · by Libloather · 10 replies
    NY Times ^ | 7/14/11 | PAUL KRUGMAN
    Getting to CrazyBy PAUL KRUGMAN Published: July 14, 2011 There aren’t many positive aspects to the looming possibility of a U.S. debt default. But there has been, I have to admit, an element of comic relief — of the black-humor variety — in the spectacle of so many people who have been in denial suddenly waking up and smelling the crazy. A number of commentators seem shocked at how unreasonable Republicans are being. “Has the G.O.P. gone insane?” they ask. Why, yes, it has. But this isn’t something that just happened, it’s the culmination of a process that has been...
  • Sorry Mr. Krugman, the GOP position on the debt ceiling is the mainstream position

    07/16/2011 6:39:38 AM PDT · by SeekAndFind · 15 replies
    Denver Post ^ | 07/16/2011 | David Harsanyi
    It’s quite the spectacle watching a pundit who is so often wrong regularly accuse his political opponents of insanity and extremism. But Paul Krugman is the man for the job — economist, bon vivant and amateur psychiatrist. And this debt ceiling situation is so insane that he’s now brought the exclamation point to the pages of the august New York Times. President Obama has made it clear that he’s willing to sign on to a deficit-reduction deal that consists overwhelmingly of spending cuts, and includes draconian cuts in key social programs, up to and including a rise in the age...
  • Paul Krugman: The Man, The Myth, The Fraud

    07/13/2011 9:35:11 PM PDT · by Absolutely Nobama · 3 replies
    FRee Republic | 7/14/11 | Alan Levy
    Of all the misfits and demented rejects that have the temerity to call themselves columnists at the New York Slimes , the most detestable of them all is Paul Krugman. Sure, there is Maureen the Moron and Comrade Friedman, but there's a special place in hell for the fraud known as Paul Krugman. Remember this from 1999 ? (Hat tip: Ann Coulter and her fabulous tome, Demonic .) -------------------------------------------------------------------------------- "The retreat of business bureaucracy in the face of the market was brought home to me recently when I joined the advisory board at Enron [Yes, that Enron. The same Enron...
  • Krugman Calls Congressman Ryan a Liar and a Sore Loser

    05/27/2011 9:17:59 AM PDT · by afraidfortherepublic · 19 replies
    Newsbusters ^ | 5-27-11 | Noel Shepherd
    The demagoguery of Paul Ryan by the media continues. On Friday, the New York Times' resident Nobel laureate Paul Krugman called the Wisconsin Congressman a liar and a sore loser: ~snip~ If anyone is lying here, it’s Mr. Ryan himself, who has claimed that his plan would give seniors the same kind of coverage that members of Congress receive — an assertion that is completely false. And, by the way, the claim that the plan would keep Medicare as we know it intact for Americans currently 55 or older is highly dubious. True, that’s what the plan promises, but if...
  • Krugman: Origins of the Crisis, Fake and Real

    05/21/2011 2:04:15 PM PDT · by reevee69 · 40 replies · 1+ views
    The New York Times ^ | May 21, 2011 | Krugman
    Origins of the Crisis, Fake and Real I don’t spend too much time these days talking about the origins of the financial crisis — right now the burning question is what comes next. Still, history is a battlefield, and the usual suspects are trying hard to rewrite that history in their interests.
  • The End of Bernanke's "End Game"(The Endless Recession)

    05/15/2011 8:20:40 PM PDT · by sickoflibs · 29 replies · 1+ views
    Mises Institute ^ | May 13, 2011 | William L. Anderson
    In a recent screed masquerading as the thoughts of a Nobel prize winner in economics, Paul Krugman excoriates those who speak of fear: fear of a debt crisis, of runaway inflation, of a disastrous plunge in the dollar. Scare stories are very much on politicians' minds. As Krugman explains, such worries are irrational and certainly untrue: None of these scare stories reflect anything that is actually happening, or is likely to happen. And while the threats are imaginary, fear of these imaginary threats has real consequences: an absence of any action to deal with the real crisis, the suffering now...
  • Paul Krugman Calls For A More Partisan Obama: ‘Let’s Not Be Civil’

    04/18/2011 3:53:03 PM PDT · by OldDeckHand · 17 replies ^ | 04/18/2011 | Matt Schneider
    Liberal columnist for The New York Times and persistent critic of President Obama, Paul Krugman, liked the passion he saw in Obama last week on the deficit battle and wants the rhetoric flame turned up even higher. In a column titled “Let’s Not Be Civil,” Krugman unapologetically lays out the case why Obama should not seek consensus with Republicans and should instead vigorously defend his vision for America while attacking the Republican proposal without restraint. Krugman argues: The point is that the two parties don’t just live in different moral universes, they also live in different intellectual universes, with Republicans...
  • Paul Krugman Calls for the Assassination of Paul Ryan

    RedState co-founder Josh Trevino has noticed the following: back in January, Paul Krugman was one of many drooling idiot leftists devoid of any moral compass who tried to pin the shooting of Gabrielle Giffords on a lack of Republican civility. Even though, by the time Krugman’s column ran, it was clear that Giffords’ shooter was a mentally disturbed individual whose assassination plot was not motivated by coherent political theory of any stripe, Krugman was not about to let facts get in the way of a good partisan narrative: It’s true that the shooter in Arizona appears to have been mentally...
  • Krugman: The President Is Missing

    04/11/2011 5:19:48 AM PDT · by tcrlaf · 64 replies
    NYTimes ^ | 4-10-11 | Krugman
    What have they done with President Obama? What happened to the inspirational figure his supporters thought they elected? Who is this bland, timid guy who doesn’t seem to stand for anything in particular?
  • KRUGMAN: Paul Ryan's Budget Plan Is Ludicrous And Cruel

    04/08/2011 8:57:35 AM PDT · by TigerLikesRooster · 50 replies
    Business Insider ^ | 0.4/07/11 | Henry Blodget
    KRUGMAN: Paul Ryan's Budget Plan Is Ludicrous And Cruel Paul Krugman has had a look at the Paul Ryan plan to save America from bankruptcy. Not surprisingly, he hates it. He blasts the (ludicrous) logic that tax cuts will increase revenue. He ridicules the implied cuts in non-healthcare spending, which call for everything but Medicare, Medicaid, and Social Security to fall from 12% of GDP last year to 3.5% eventually (3.5% is more than we spent on defense alone last year). He lambastes the 2.8% unemployment assumption. He also ridicules the idea that "vouchers" will enable seniors to buy private...
  • The Forgotten Millions (Lefty icon Krugman blames the rookie Hussein for unemployment? Sorta.)

    03/18/2011 7:15:04 PM PDT · by Libloather · 8 replies
    NY Times ^ | 3/17/11 | PAUL KRUGMAN
    The Forgotten MillionsBy PAUL KRUGMAN Published: March 17, 2011 More than three years after we entered the worst economic slump since the 1930s, a strange and disturbing thing has happened to our political discourse: Washington has lost interest in the unemployed. Jobs do get mentioned now and then — and a few political figures, notably Nancy Pelosi, the Democratic leader in the House, are still trying to get some kind of action. But no jobs bills have been introduced in Congress, no job-creation plans have been advanced by the White House and all the policy focus seems to be on...
  • Paul Krugman: America's Not Broke - We Can Still Borrow Money

    03/11/2011 10:01:42 AM PST · by mandaladon · 40 replies
    News Busters ^ | 11Mar 2011 | Noel Sheppard
    If banks and credit card companies are willing to lend you money, does that mean you're not broke? According to Nobel laureate Paul Krugman, America is doing just fine financially because we're having no problem borrowing money: [T]he nation is not, in fact, “broke.” The federal government is having no trouble raising money, and the price of that money — the interest rate on federal borrowing — is very low by historical standards. So there’s no need to scramble to slash spending now now now; we can and should be willing to spend now if it will produce savings in...
  • Krugman Closes His Eyes (Doesn't Read Anything on the Right)

    03/10/2011 12:44:17 PM PST · by lbryce · 12 replies
    The Volokh Conspiracy ^ | March 10, 2011 | Johnathan H. Adler
    Paul Krugman doesn’t read anything on the “right”: Some have asked if there aren’t conservative sites I read regularly. Well, no. I will read anything I’ve been informed about that’s either interesting or revealing; but I don’t know of any economics or politics sites on that side that regularly provide analysis or information I need to take seriously. I know we’re supposed to pretend that both sides always have a point; but the truth is that most of the time they don’t. The parties are not equally irresponsible; Rachel Maddow isn’t Glenn Beck; and a conservative blog, almost by definition,...
  • Shock Doctrine, U.S.A. [Wisconsin: Krugman compares Koch Brothers to Missing Billions in Iraq]

    02/25/2011 1:57:59 AM PST · by fight_truth_decay · 11 replies
    NYTimes ^ | Published: February 24, 2011 | Paul Krugman
    Here’s a thought: maybe Madison, Wis., isn’t Cairo after all. Maybe it’s Baghdad — specifically, Baghdad in 2003, when the Bush administration put Iraq under the rule of officials chosen for loyalty and political reliability rather than experience and competence. As many readers may recall, the results were spectacular — in a bad way. Instead of focusing on the urgent problems of a shattered economy and society, which would soon descend into a murderous civil war, those Bush appointees were obsessed with imposing a conservative ideological vision.
  • Paul Krugman epitomizes the current liberal divorce from reality

    02/22/2011 10:17:43 PM PST · by neverdem · 25 replies
    Washington Examiner ^ | Feb 21 2011 | Timothy P. Carney
    One reason liberals get so excited about the protests and teacher strikes in Wisconsin is that they see this as a battle to preserve the power of the working man -- a noble cause and one many liberals take very seriously. If you squint just right, you can see it their way: Republicans are fighting to take away collective bargaining rights from unions, who are responding with protest and solidarity. Of course, this blurs the crucial distinction between private-sector unions and government-sector unions. When it comes to stubbornly blurring economic reality so as to demonize your political rivals, you can...
  • Wisconsin Power Play

    02/21/2011 8:40:59 PM PST · by Beave Meister · 24 replies
    New York Times ^ | 2/20/2011 | Paul Krugman
    Last week, in the face of protest demonstrations against Wisconsin’s new union-busting governor, Scott Walker — demonstrations that continued through the weekend, with huge crowds on Saturday — Representative Paul Ryan made an unintentionally apt comparison: “It’s like Cairo has moved to Madison.” It wasn’t the smartest thing for Mr. Ryan to say, since he probably didn’t mean to compare Mr. Walker, a fellow Republican, to Hosni Mubarak. Or maybe he did — after all, quite a few prominent conservatives, including Glenn Beck, Rush Limbaugh and Rick Santorum, denounced the uprising in Egypt and insist that President Obama should have...
  • Paul Krugman Blames Egypt Crisis On Global Warming

    02/07/2011 8:53:16 AM PST · by mandaladon · 60 replies
    Newsbusters ^ | 7 Feb 2011 | Noel Sheppard
    For the second time in eight days, a prominent liberal has blamed the developing crisis in Egypt on global warming. Following in the footsteps of climate alarmist extraordinaire Joe Romm Monday was New York Times columnist Paul Krugman: We’re in the midst of a global food crisis — the second in three years. World food prices hit a record in January, driven by huge increases in the prices of wheat, corn, sugar and oils. These soaring prices have had only a modest effect on U.S. inflation, which is still low by historical standards, but they’re having a brutal impact on...
  • Paul v. Paul – Paul Krugman Loses A Round To GOP Fiscal Conservative Paul Ryan

    01/28/2011 10:49:08 AM PST · by Michael van der Galien · 2 replies
    Paul Krugman claimed in his New York Times op -ed article today that Republicans have mischaracterized what has happened in Europe to justify their own austerity program of significant budget cuts to reduce the national debt rather than monetizing it. He complained that Congressman Paul Ryan, who delivered the Republicans’ response to President Obama’s spend-by-another-name State of the Union Address, had appropriated Europe’s debt problems on behalf of their own agenda, “never mind the fact that events in Europe actually point the other way.” Krugman started losing the argument by the third paragraph of his column when he conceded that...
  • Dr Paul Krugman, George Will And Austan Goolsbee: The Government Doesn’t Create Jobs

    01/24/2011 10:40:32 AM PST · by Biggirl · 7 replies ^ | January 24, 2011 | Jim Vicevich
    Well … that Will is on this list does not surprise me. It’s the other two, publicly admitting the government can’t create jobs, nor can it turn the economy on again, now, that’s man bites dog stuff. Christiane Amanpour wonders what can the government do to get the economy moving again, and get business to begin spending some of it’s cash on hand, estimated at … ummm … Two trillion dollars? Two bites for your perusal. The first, Dr Krugman comes clean on the two trillion being horded.
  • Krugman Shocker: 1990s Economic Boom 'Had Nothing Much To Do With Bill Clinton'

    01/23/2011 10:23:30 AM PST · by Nachum · 23 replies · 1+ views
    Newsbusters ^ | 1/23/11 | Noel Sheppard
    For years, Democrats and their media minions have maintained that the economic boom of the '90s was caused by the fiscal policies of President Bill Clinton, in particular his 1993 income tax hike. Appearing on ABC's "This Week" Sunday, New York Times columnist Paul Krugman shockingly said what conservatives have been claiming all along (video follows with transcript and commentary): PAUL KRUGMAN: I think the model is something like Clinton who, in fact, mostly was just riding on a successful economy that was successful mostly for reasons that had nothing much to do with him. But he was able to,...