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Keyword: krugman

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  • Is Paul Krugman Leaving Princeton In Quiet Disgrace?

    07/14/2014 11:37:01 AM PDT · by SeekAndFind · 34 replies
    Forbes ^ | 07/14/2014 | Ralph Benko
    Professor Paul Krugman is leaving Princeton. Is he leaving in disgrace? Not long, as these things go, before his departure was announced Krugman thoroughly was indicted and publicly eviscerated for intellectual dishonesty by Harvard’s Niall Ferguson in a hard-hitting three-part series in the Huffington Post, beginning here, and with a coda in Project Syndicate, all summarized at Forbes.com. Ferguson, on Krugman: Where I come from … we do not fear bullies. We despise them. And we do so because we understand that what motivates their bullying is a deep sense of insecurity. Unfortunately for Krugtron the Invincible, his ultimate nightmare...
  • Krugman's Blind Eye to ObamaCare Failures

    07/15/2014 4:09:13 AM PDT · by IBD editorial writer · 7 replies
    Investor's Business Daily ^ | 07/15/2014 | IBD Staff
    Health Reform: Nobel Prize-winning economist Paul Krugman says critics of ObamaCare should cease and desist, because the law is "working." Given his track record on health care analysis, we'll politely ignore this advice. In 2011, the same Krugman declared the Veterans Health Administration was "a huge policy success story, which offers important lessons for future health reform" because, among other things, "it's free from the perverse incentives created when doctors and hospitals profit from expensive tests and procedures." It turns out the VHA is more akin to a cesspool of bloated bureaucracy, mismanagement, deadly delays and cover-ups. A couple years...
  • Paul Krugman: The Incompetence Dogma. So Much for Obamacare Not Working

    06/28/2014 11:29:34 AM PDT · by SeekAndFind · 62 replies
    New York Times ^ | 06/27/2014 | Paul Krugman
    Have you been following the news about Obamacare? The Affordable Care Act has receded from the front page, but information about how it’s going keeps coming in — and almost all the news is good. Indeed, health reform has been on a roll ever since March, when it became clear that enrollment would surpass expectations despite the teething problems of the federal website. What’s interesting about this success story is that it has been accompanied at every step by cries of impending disaster. At this point, by my reckoning, the enemies of health reform are 0 for 6. That is,...
  • Flashback: Vouchers for Veterans [2011]

    05/22/2014 12:13:18 PM PDT · by lowbridge · 3 replies
    NYT ^ | November 13, 2011 | Paul Krugman
    Naturally, then, politicians — Republicans in particular — are determined to scrap what works and promote what doesn’t. And that brings me to Mitt Romney’s latest really bad idea, unveiled on Veterans Day: to partially privatize the Veterans Health Administration (V.H.A.). What Mr. Romney and everyone else should know is that the V.H.A. is a huge policy success story, which offers important lessons for future health reform. Many people still have an image of veterans’ health care based on the terrible state of the system two decades ago. Under the Clinton administration, however, the V.H.A. was overhauled, and achieved a...
  • Krugman: GOP has reached point of no return on climate

    05/17/2014 4:03:09 PM PDT · by Oldeconomybuyer · 111 replies
    Houston Chronicle ^ | May 16, 2014 | By Paul Krugman
    ... Think of it this way: Once upon a time it was possible to take climate change seriously while remaining a Republican in good standing. Today, listening to climate scientists gets you excommunicated - hence Rubio's statement, which was effectively a partisan pledge of allegiance. And truly crazy positions are becoming the norm. A decade ago, only the GOP's extremist fringe asserted that global warming was a hoax concocted by a vast global conspiracy of scientists (although even then that fringe included some powerful politicians). Today, such conspiracy theorizing is mainstream within the party, and rapidly becoming mandatory; witch hunts...
  • Inventing a Failure (He's talking about Obamacare)

    05/05/2014 12:57:09 PM PDT · by 2ndDivisionVet · 14 replies
    The New York Times ^ | May 4, 2014 | Paul Krugman
    Last week, House Republicans released a deliberately misleading report on the status of health reform, crudely rigging the numbers to sustain the illusion of failure in the face of unexpected success. Are you shocked? You aren’t, but you should be. Mainstream politicians didn’t always try to advance their agenda through lies, damned lies and — in this case — bogus statistics. And the fact that this has become standard operating procedure for a major party bodes ill for America’s future. About that report: The really big policy news of 2014, at least so far, is the spectacular recovery of the...
  • Hell Freezes Over: Paul Krugman, Bill Kristol Agree That Cliven Bundy’s A Law-Breaking Jerk

    04/27/2014 12:32:33 PM PDT · by 2ndDivisionVet · 38 replies
    The Daily Caller ^ | April 27, 2014 | Brendan Bordelon
    Weekly Standard editor Bill Kristol and New York Times columnist Paul Krugman are undoubtedly on opposite sides of America’s political spectrum. But the conservative commentator and liberal economist came to a rare point of agreement on Sunday: regardless of his comments on race, Nevada rancher Cliven Bundy’s law-breaking stand against the federal government is inexcusable. Kristol and Krugman appeared on ABC’s “This Week” to discuss Cliven Bundy’s racially insensitive comments published earlier this week. Once seen as a right-wing folk hero for his stand against the Bureau of Land Management’s push to reclaim grazing fees he owed the Feds, Republican...
  • Krugman, Who Is Paid $25,000/Month To Study Inequality, Says "Nobody Wants Us To Become Cuba"

    04/17/2014 7:25:33 PM PDT · by Nachum · 10 replies
    zero hedge ^ | 4/17/14 | Tyler Durden
    When it comes to Krugman's views on any particular topic, he may be right and he may be wrong, but whatever his opinion he always has a much to say about it (even if the factual backing is of secondary importance or outright missing). Today, his chosen topic is inequality, and in an interview with Bloomberg's Tom Keene, shown and transcribed below, he certainly says much, encapsulated perhaps by the following gem: "There's zero evidence that the kind of extreme inequality that we have is good for economic growth. In fact, there's a lot of evidence that it is actually...
  • Rube Goldberg Survives (Obamacare's "Stunning" Comeback)

    04/03/2014 8:22:19 PM PDT · by 2ndDivisionVet · 18 replies
    The New York Times ^ | April 3, 2014 | Paul Krugman
    Holy seven million, Batman! The Affordable Care Act, a k a Obamacare, has made a stunning comeback from its shambolic start. As the March 31 deadline for 2014 coverage approached, there was a surge in applications at the “exchanges” — the special insurance marketplaces the law set up. And the original target of seven million signups, widely dismissed as unattainable, has been surpassed. But what does it mean? That depends on whether you ask the law’s opponents or its supporters. You see, the opponents think that it means a lot, while the law’s supporters are being very cautious. And, in...
  • Making Fun of Keynesian Economics

    03/10/2014 5:51:24 AM PDT · by Kaslin · 11 replies
    Townhall.com ^ | March 10, 2014 | Daniel J. Mitchell
    <p>It’s sometimes difficult to make fun of Keynesian economics. But this isn’t because Keynesian theory is airtight.</p> <p>It’s easy, after all, to mock a school of thought that is predicated on the notion that you can make yourself richer by taking money from your right pocket and putting it in your left pocket.</p>
  • Krugman to leave Princeton for CUNY

    02/28/2014 3:46:13 PM PST · by Olog-hai · 14 replies
    Politico ^ | 2/28/14 10:06 AM EST | Dylan Byers
    New York Times columnist Paul Krugman will retire from Princeton University in June 2015 and move to New York, he announced on Friday. […] Krugman credited the move to location and to his increased focus on public policy, specifically income equality …
  • Demonization of ObamaCare Opponents Intensify

    02/26/2014 8:53:38 PM PST · by rightwingerpatriot · 8 replies
    Rightwingpatriot.com ^ | February 26, 2014 | Rightwingerpatriot
    As the dreadful effects of ObamaCare continue to pile up, the far left shows their true beliefs as they savagely go after any person who dares raise a criticism. We all know how "tolerant" liberals actually are, but they continue to sink to new lows as they intensify their war on those who are most vulnerable to the Affordable Care Act. From the floor of the US Senate to individual states, liberals are looking to bully the unprotected into silence. Our first case in point takes place in Michigan, where a Democrat candidate for US Senator is going after a...
  • The Tyranny and Lethargy of the Times Editorial Page

    02/05/2014 11:40:58 AM PST · by CreviceTool · 5 replies
    New York Observer ^ | February 4, 2014 | Ken Kurson
    IT’S WELL KNOWN AMONG THE SMALL WORLD of people who pay attention to such things that the liberal-leaning reporters at The Wall Street Journal resent the conservative-leaning editorial page of The Wall Street Journal. What’s less well known—and about to break into the open, threatening the very fabric of the institution—is how deeply the liberal-leaning reporters at The New York Times resent the liberal-leaning editorial page of The New York Times.
  • You Should Read Paul Krugman On The Emerging-Market Turmoil

    02/02/2014 11:45:54 AM PST · by blam · 5 replies
    BI ^ | 2-2-2-14 | Joe Weisenthal
    You Should Read Paul Krugman On The Emerging-Market Turmoil Joe WeisenthalFebuarary 2, 2014 Paul Krugman weighed in this week on the turmoil in emerging markets. He connected the turmoil to weak economic performance in developed markets, and the mad rush by investors to seek return anywhere they can get it. What we're seeing now is the downside of that — basically the argument is that Turkey (et al) are like subprime, and that they represented a search for returns in an economic environment that was very poor. Now that's blowing up.(snip)
  • Paul Krugman is Wrong About Jobs and Income Inequality: Inverting Cause and Effect

    01/30/2014 11:30:22 AM PST · by SeekAndFind · 12 replies
    FrontPage ^ | 01/30/2014 | Daniel Greenfield
    Looking forward to Obama’s State of the Union session, New York Times economic court jester Paul Krugman beats his usual drum about the importance of deficit spending (no, that’s not a joke, it’s what passes for liberal economic wisdom) and then tries to make a case for the left’s latest meme of “inequality” over jobs. The usual suspects on the right will, as always when questions of income distribution comes up, shriek “Class warfare!” But there will also be seemingly more sober voices arguing that he has picked the wrong target, that jobs, not inequality, should be at the top...
  • Krugman calls senator’s cancer story ‘garbage’

    01/29/2014 3:41:35 PM PST · by TurboZamboni · 43 replies
    daily caller ^ | 1-29-14 | Chuck Ross
    New York Times columnist and Nobel laureate economist Paul Krugman is questioning Oklahoma Republican Sen. Tom Coburn’s claim that Obamacare caused him to lose his cancer specialist. “It’s a garbage story, it really is,” said Krugman in a back-and-forth with former House Speaker Newt Gingrich on CNN after the State of the Union on Tuesday. Coburn, who announced earlier this month that he’ll resign from office at the end of the year as he battles his fourth bout with cancer, told MSNBC’s “Morning Joe” that his oncologist was no longer covered under his health care plan.
  • Paul Krugman: The Undeserving Rich (Here it comes!)

    01/20/2014 1:52:38 PM PST · by 2ndDivisionVet · 62 replies
    The New York Times ^ | January 19, 2014 | Paul Krugman
    The reality of rising American inequality is stark. Since the late 1970s real wages for the bottom half of the work force have stagnated or fallen, while the incomes of the top 1 percent have nearly quadrupled (and the incomes of the top 0.1 percent have risen even more). While we can and should have a serious debate about what to do about this situation, the simple fact — American capitalism as currently constituted is undermining the foundations of middle-class society — shouldn’t be up for argument. But it is, of course. Partly this reflects Upton Sinclair’s famous dictum: It...
  • Is California the Great Obamacare Success Story?

    11/25/2013 5:19:51 PM PST · by Nachum · 17 replies
    weekly standard ^ | 11/25/13 | JOHN MCCORMACK
    New York Times columnist Paul Krugman writes that Obamacare is a success in California, and the Golden State experience is proof that the entire program would be great if they could just get that darn website to work. Krugman's column doesn't discuss the quality or cost of the health plans offered on the California exchange at all. To make his case, Krugman cites precisely two pieces of data. First, he notes that "enrollment is surging. At this point, more than 10,000 applications are being completed per day, putting the state well on track to meet its overall targets for 2014...
  • Krugman’s Adventures in Fairyland

    11/23/2013 2:06:22 PM PST · by BfloGuy · 9 replies
    The Mises Daily ^ | 11/23/2013 | William L. Anderson
    After studying and teaching Keynesian economics for 30 years, I conclude that the “sophisticated” Keynes­ians really do believe in magic and fairy dust. Lots of fairy dust. It may seem odd that this Aus­trian economist refers to fairies, but I got the term from Paul Krugman. According to Krugman, too many people place false hopes in what he calls the “Confidence Fairy,” a creature created as a retort to economist Robert Higgs’s concept of “regime uncertainty.” Higgs coined that expression in a 1997 paper on the Great Depression in which he claimed that uncertainty caused by the policies of Franklin...
  • Krugman: Those counting on Obamacare collapse are “making a very bad bet”

    11/20/2013 3:03:23 PM PST · by 2ndDivisionVet · 47 replies
    Salon ^ | November 20, 2013 | Elias Isquith, assistant editor
    Writing at his New York Times blog, Paul Krugman warned that those banking on Obamacare to collapse are “probably making a very bad bet.” As proof, Krugman points to the record of state-level healthcare exchanges, which by and large have been performing much better than their federal counterpart. He also cites the rising levels of Medicaid enrollment — which is occurring in both states that have and haven’t accepted the Obamacare expansion — and the slow improvement of Healthcare.gov as reasons for optimism. All in all, Krugman says, the law is “probably going to stumble through to the finish line.”...
  • Paul Krugman: ‘Death panels and sales taxes is how we do this’

    11/09/2013 1:19:03 AM PST · by 2ndDivisionVet · 21 replies
    Economic Collapse News Blog ^ | November 8, 2013 | Andrew Moran
    There is no doubt that the United States is in financial disarray and the future seems quite bleak. In the next decade or so, the U.S. will face extreme difficulties paying for healthcare, making Social Security payments and pretty much keeping entitlement programs afloat. What is the solution? In a speech made earlier this year in D.C., world-renowned Keynesian economist Paul Krugman concurred that the federal government does have a financial problem. When you add an aging population and rising healthcare costs, the government lacks the necessary revenue to pay for pretty much anything. According to the Nobel Laureate, the...
  • We Can't Solve Our Problems If We Deny We Have Them

    10/25/2013 5:31:09 PM PDT · by afraidfortherepublic · 1 replies
    Investors Business Daily ^ | 10-25-13 | Sen. Ron Johnson (WI)
    How do you solve a problem if you refuse to admit you have one — or if you delude yourself into thinking it's not as bad as it actually is? The answer: You don't. You might minimize symptoms and make some progress. But unless you address the root cause, you will not find a real long-term solution. Unfortunately, far too many politicians in Washington refuse to acknowledge — and as a result, never accurately describe — the challenges currently facing America. I'm not sure why so many choose to keep their heads in the sand, but their state of denial...
  • This Is Not A Crisis

    09/17/2013 1:55:53 PM PDT · by Oldeconomybuyer · 16 replies
    New York Times ^ | September 17, 2013 | by Paul Krugman
    It’s not even a picture of a crisis. The new CBO long-term budget projections are out, and while they’re not good, they don’t show crisis levels of debt even looking out a quarter-century. Unless, that is, you believe that debt of 100 percent of GDP is the end of the world even though Britain exceeded that level for a large part of its history. So budget deficits, entitlement reform, and all that simply don’t deserve to be policy priorities, let alone dominate the national discussion the way they did for the past few years.
  • Paul Krugman: "All the Recent News on Health Costs has Been Good"

    09/13/2013 5:49:31 PM PDT · by 2ndDivisionVet · 20 replies
    Townhall ^ | September 13, 2013 | Guy Benson
    All of it. That's according to New York Times columnist and catty teenage Mean Girl Paul Krugman, who -- without a shred of irony -- devoted his latest sneering column to the supposed lack of policy wonks on the Right. In doing so, he derisively dismissed a critique of the "Affordable" Care Act leveled by Sen. John Barrasso, Republican of Wyoming. These Republicans have no experts! Interestingly, Krugman failed to add a relevant appellation to Barrasso's title: MD. But then, what would a medical doctor know about healthcare? I digress. Krugman's assertion was that every bit of recent health cost-related...
  • Years of Tragic Waste

    09/06/2013 7:50:28 AM PDT · by tatown · 10 replies
    NY Times ^ | 9/5/2013 | Paul Krugman
    In a few days, we’ll reach the fifth anniversary of the fall of Lehman Brothers — the moment when a recession, which was bad enough, turned into something much scarier. Suddenly, we were looking at the real possibility of economic catastrophe. And the catastrophe came. Wait, you say, what catastrophe? Weren’t people warning about a second Great Depression? And that didn’t happen, did it? Yes, they were, and no, it didn’t — although the Greeks, the Spaniards, and others might not agree about that second point. The important thing, however, is to realize that there are degrees of disaster, that...
  • Krugman & Today's Policies: This Is Nothing Like 1937

    07/29/2013 4:19:27 PM PDT · by Nachum · 6 replies
    Real Clear Politics ^ | 7/29/13 | Sean Trende
    Paul Krugman has spent the past three years inveighing against any immediate steps to reduce the growth in government spending on the grounds that we would merely be repeating the mistakes that Fed policymakers made in 1937. In that year, spending cuts and insistence on a balanced budget catapulted the United States into a deep recession, one that essentially spelled the end of the New Deal. On Monday, Krugman doubled down, claiming that policymakers had progressed past 1937, and that we were risking a repeat of 1931. That was the year things really fell apart, when policymakers failed to contain...
  • KRUGMAN: The Fed May Have Just Made A Historic Mistake, And Done More Damage Than It Realizes

    06/22/2013 6:04:33 PM PDT · by blam · 43 replies
    Business Insider ^ | 6-22-2013 | Joe Weisenthal
    KRUGMAN: The Fed May Have Just Made A Historic Mistake, And Done More Damage Than It Realizes Joe WeisenthalJune 22,2013REUTERS/Jason ReedThe most important story in the world is the change of direction in US interest rates, which coincides with the change in tone out of the Federal Reserve, which on Wednesday indicated that so long as its economic projections come to pass, it plans to slowdown on Quantitative Easing later on this year, with an eye towards totally ceasing bond purchases sometime in 2014. The markets puked on the news, and interest rates shot up, a move that was exacerbated...
  • Krugman’s Still Wrong: He’s doing a victory lap, but shouldn’t be.

    05/08/2013 7:49:58 AM PDT · by SeekAndFind · 9 replies
    National Review ^ | 05/08/2013 | Michael Tanner
    Paul Krugman has never been shy about proclaiming that he is right and everyone else is wrong — and not just wrong, but “knaves and fools.” Lately, however, one begins to worry that he might actually hurt himself, so vigorously has he been patting himself on the back for his opposition to “austerity” (defined as any cut in government spending, anytime, anywhere). On his latest victory lap, Krugman is celebrating two things. First, a group of researchers from the University of Massachusetts Amherst discovered a small error in a widely cited paper by Carmen Reinhart and Ken Rogoff that showed...
  • Krugman’s California Dreaming [VDH]

    04/03/2013 5:17:40 AM PDT · by Servant of the Cross · 5 replies
    National Review ^ | 4/3/2013 | Victor Davis Hanson
    He sees a renaissance attributable to the decline of the state’s Republican party. It is rare, even in the case of Paul Krugman, to read a column in which almost everything that is stated is either wrong or deliberately misleading. But his recent take on California’s renaissance is pure fantasy. I wish it weren’t. Krugman starts with the premise that California conservatives, the most prominent being Ronald Reagan, helped to turn the formerly moderate Republican party into the “radical right-wing organization we see today”; California, he believes, did more than the South to spawn the Religious Right. How absurd! Reagan...
  • Lessons From a Comeback (Krugman on California)

    04/01/2013 12:04:14 PM PDT · by lowbridge · 34 replies
    ny times ^ | march31,2013 | Paul Krugman
    As a result, the reign of the Governator aside, California has been solidly Democratic since the late 1990s. And ever since the political balance shifted, conservatives have declared the state doomed. Their specifics keep changing, but the moral is always the same: liberal do-gooders are bringing California to its knees. A dozen years ago, the state was supposedly doomed by all its environmentalists. You see, the eco-freaks were blocking power plants, and the result was crippling blackouts and soaring power prices. “The country’s showcase state,” gloated The Wall Street Journal, “has come to look like a hapless banana republic.” But...
  • Paul Krugman Declares Personal Bankruptcy (Satire)

    03/07/2013 7:43:56 PM PST · by Hoodat · 9 replies
    The Daily Currant ^ | Mar. 06, 2013 | Staff
    Economist and columnist Paul Krugman declared personal bankruptcy today following a failed attempt to spend his way out of debt. In a Chapter 13 filing to the United States Bankruptcy Court in the Southern District of New York, lawyers for Krugman listed $7,346,000 in debts versus $33,000 in assets. The majority of his debts are related to mortgage financing on a $8.7 million apartment in lower Manhattan, but the list also includes $621,537 in credit card debt and $33,642 in store financing at famed jeweler Tiffanys and Co. The filing says that Krugman got into credit card trouble in 2004...
  • Paul Krugman Reminds Me Of A Perverted Little Elf

    02/16/2013 11:37:27 AM PST · by Mike Miles · 19 replies
    Paul Krugman Reminds Me Of A Perverted Little Elf that has a horrible little secret that he thinks you know he has, but he is never called on his horrible little secret so he sits there with this evil little guilty smirk on his face, that horrible pregnant little smirk like he knows that a bucket of water is about to be dumped on you...continued...
  • Krugman: Death Panels and Middle-Class Tax Hikes Ahead

    02/08/2013 5:09:52 AM PST · by IBD editorial writer · 21 replies
    Investor's Business Daily ^ | 02/07/2013 | IBD Staff
    Big Government: We almost never agree with President Obama's favorite economist Paul Krugman, but he recently spoke the truth about where Obama's policies are taking the country. It should scare anyone with a pulse. Krugman, after speaking at the Sixth & I Historic Synagogue in Washington, D.C., was asked about the debt crisis. After arguing it's no big deal in the near term, Krugman admitted that "Eventually we do have a problem. The population is getting older, health care costs are rising ... . Something is going to have to give." What's that something?
  • Krugman: U.S. Needs Death Panels, Sales Taxes

    02/05/2013 1:47:44 PM PST · by JohnPDuncan · 65 replies
    Breitbart ^ | Joel Griffith
    Nobel Prize winning “economist” Paul Krugman spoke at Sixth & I Historic Synagogue in Washington, D.C. last week. During the Q&A session following the lecture, an audience member asked him about the rising national debt. Earlier in the evening, Krugman had already vocalized his satisfaction at President Obama’s apparent lack of concern over the exploding cumulative deficit. However, in a moment of brutal honesty, the esteemed Princeton professor revealed his long term prognosis. According to the professor: Eventually we do have a problem. That the population is getting older, health care costs are rising…there is this question of how we’re...
  • Krugman: U.S. Needs Death Panels, Sales Taxes

    02/05/2013 12:35:02 PM PST · by 2ndDivisionVet · 26 replies
    Breitbart's Big Government ^ | February 5, 2013 | Joel Griffith
    Nobel Prize winning “economist” Paul Krugman spoke at Sixth & I Historic Synagogue in Washington, D.C. last week. During the Q&A session following the lecture, an audience member asked him about the rising national debt. Earlier in the evening, Krugman had already vocalized his satisfaction at President Obama’s apparent lack of concern over the exploding cumulative deficit. However, in a moment of brutal honesty, the esteemed Princeton professor revealed his long term prognosis. According to the professor, "Eventually we do have a problem. That the population is getting older, health care costs are rising…there is this question of how we’re...
  • The Debt Deniers’ Fantasy: Prominent liberals are now insisting that we face no debt problem at all

    01/30/2013 7:37:10 AM PST · by SeekAndFind · 4 replies
    National Review ^ | 01/30/2013 | Michael Tanner
    It’s not quite on a par with 9/11 truthers or Obama birthers, but recently a number of liberal commentators have descended into the fever swamps of denialism by rejecting the most basic facts about our debt and deficit. Mind you, they are not arguing about the best policies to reduce the debt — taxe hikes vs. spending cuts — but actually denying that the problem exists at all. Paul Krugman, for example, pronounces the debt problem “mostly solved.” Matt Yglesias of Slate asks, “What sovereign debt crisis? There certainly isn’t one in the United States.” Bruce Bartlett, every liberal economist’s...
  • Paul Krugman: Yes, We Have To Fix The Deficit Eventually–But Not Now

    01/29/2013 11:12:09 AM PST · by SeekAndFind · 9 replies
    Daily Ticker ^ | 01/29/2013 | Henry Blodget
    Nobel Prize-winning economist Paul Krugman has argued clearly and consistently over the past five years that U.S. government spending is critical to our economic recovery and that cutting spending now to reduce the deficit would be a disastrous mistake. For taking this position, Krugman has been castigated by those who blame the depression on fiscal irresponsibility and runaway government spending. The way to fix the economy, those folks argue, is to immediately slash government spending, reduce the deficit, and restore "confidence" among the country's business leaders. In the early years of the recovery, there was widespread support for the latter...
  • Not All Austerity Is Equal; We’re following Britain’s failed path, not Estonia’s successful one.

    01/28/2013 4:57:37 AM PST · by TurboZamboni · 6 replies
    national review ^ | Matthew Melchiorre
    Prominent economists, politicians, and pundits throw around the term “austerity” as if policies by that name always take the same form. They usually use the term to criticize the concept and its effects by pointing to Europe’s stagnation at the hands of “savage” cuts in government spending. But this mindset ignores the question: Austerity for whom? The answer is especially important if the United States, which has continued to follow in Western Europe’s footsteps with this month’s fiscal-cliff deal, is to learn from the Old World’s mistakes. Raising taxes on the private sector while government continues to gorge itself on...
  • Paul Krugman: Deficit problems “already, to a large degree, solved”

    01/18/2013 8:36:06 AM PST · by SeekAndFind · 5 replies
    Hotair ^ | 01/28/2013 | Ed Morrissey
    Alfred E. Newman, meet Paul Krugman. Less than a week after the Treasury reported that the US was on its way to a fifth straight trillion-dollar annual budget deficit, the New York Times columnist and Nobel Prize winner says we're worried about nothing. The deficit problem, Krugman assures us, has been "already, to a large degree, solved."Did I miss the space invaders? This is, however, a case in which what everyone knows just ainÂ’t so. The budget deficit isnÂ’t our biggest problem, by a long shot. Furthermore, itÂ’s a problem that is already, to a large degree, solved. The medium-term...
  • Krugman: More Government Spending Would Revive Economy in Two Years

    01/16/2013 5:11:36 PM PST · by Olog-hai · 53 replies
    Cybercast News Service ^ | January 16, 2013 | Fred Lucas
    Paul Krugman, a liberal economist and New York Times columnist, said increased government spending is key to economic recovery. During an interview on Friday on “Moyers & Company,” on PBS, Bill Moyers asked, “And you argue that this could actually be solved in two years?” …
  • Paul Krugman: The Mostly Solved Deficit Problem (Nobel Prize Winner says Debt-to-GDP ratio is down)

    01/16/2013 6:55:45 AM PST · by SeekAndFind · 19 replies
    New York Times ^ | 01/1 | Paul Krugman
    The Center on Budget and Policy Priorities has a graph: The vertical axis measures the projected ratio of federal debt to GDP. The blue line at the top represents the projected path of that ratio as of early 2011 — that is, before recent agreements on spending cuts and tax increases. This projection showed a rising path for debt as far as the eye could see.And just about all budget discussion in Washington and the news media is laid out as if that were still the case. But a lot has happened since then. The orange line shows the effects...
  • Jon Stewart Fires Back At Paul Krugman (Trillion dollar coin)

    01/15/2013 8:35:01 AM PST · by Mamzelle · 15 replies
    business insider ^ | 1-14-13 | Bret Logurato
    Two effeminate progressive Mean Girls pull each other's Hair Plugs at the cafeteria Cool Table. (summary)
  • PAUL KRUGMAN: The Deficit Is Basically Solved

    01/11/2013 8:21:14 AM PST · by blam · 71 replies
    TBI ^ | 1-11-2013 | Walter Hickey
    PAUL KRUGMAN: The Deficit Is Basically Solved Walter HickeyJan. 10, 2013, 4:00 PMMany people think that fixing the deficit is a painful process that involves deep cuts to crucial programs. Some think the process is too hard, and it's not worth trying yet. That's not correct, according to a chart from from the Center on Budget and Policy Priorities' Richard Kogan showing just how far the United States has come in the past two years. We've talked before about how the painless and most effective solution to the deficit is additional growth in GDP. As the recovery progresses and GDP...
  • Hey Obots: How Do You Like Obama's Higher Taxes on The Middle Class???

    01/08/2013 9:33:17 AM PST · by NOBO2012 · 7 replies
    Michelle Obama's Mirror ^ | 1-8-2013 | MOTUS
    Ouch! Nothing hurts quite as much as kicking yourself in the shin. It looks like low information voters across America are waking up from the personality party they’ve been at for the past few years to discover that not only do their shiny Obama-bucks not go as far as they use to, butt now they’re taking fewer of those bucks home. Man, who could have seen that coming? I mean, shoot(am I still allowed to say that?), read Big Guy’s lips. He promised, remember?(snip)READ MY LIPS: NO MORE TAXES! And yet people across the country – not just wealthy Republicans –...
  • Bad news: Paul Krugman won’t take Treasury job

    01/07/2013 10:04:35 AM PST · by SeekAndFind · 20 replies
    Hotair ^ | 01/07/2013 | Ed Morrissey
    Well, it's bad news for Danny Glover and MoveOn, anyway. They started a grassroots movement to get the New York Times columnist an appointment to Barack Obama's Cabinet in replacement of the departing Tim Geithner. MoveOn even sent a petition request to its large e-mail list, demanding a Paul Krugman nomination: Hollywood actor and liberal activist Danny Glover is trying to send a message to President Barack Obama: “Nominate Paul Krugman for Treasury Secretary.”Obama has yet to tap anyone to fill the slot, soon to be left vacant by outgoing Treasury Secretary Timothy Geithner. On Sunday the liberal advocacy group...
  • NOBEL PRIZE WINNER PAUL KRUGMAN: Obama Must Be Ready To Mint The Trillion Dollar Platinum Coin

    01/07/2013 6:33:46 AM PST · by blam · 49 replies
    TBI ^ | 1-7-2013 | Joe Weisenthal
    NOBEL PRIZE WINNER PAUL KRUGMAN: Obama Must Be Ready To Mint The Trillion Dollar Platinum Coin Joe WeisenthalJanuary 7, 2013 The movement to mint a trillion dollar platinum coin gets its biggest backer yet: Paul Krugman. In a new post up titled Be Ready To Mint The Coin he writes: It’s easy to make sententious remarks to the effect that we shouldn’t look for gimmicks, we should sit down like serious people and deal with our problems realistically. That may sound reasonable — if you’ve been living in a cave for the past four years.Given the realities of our political...
  • KRUGMAN: Bowles, Greenspan, And The WSJ Are All Basically Members Of A Doomsday Cult

    12/24/2012 6:30:00 AM PST · by blam · 9 replies
    TBI ^ | 12-24-2012 | Joe Weisenthal
    KRUGMAN: Erskine Bowles, Alan Greenspan, And The WSJ Editorial Board Are All Basically Members Of A Doomsday Cult Joe WeisenthalDec. 24, 2012, 5:55 AM We liked this note that was sent out by SocGen's Kit Juckes this morning: It wouldn't be Christmas without Paul Krugman telling the US government it's OK to spend money. Krugman thinks that anyone who worries about a disaster coming from the scale of US debt is a doom-mongerer. Especially the WSJ. That's snarky, but that is what Krugman's Christmas eve column is about. Essentially it's a reminder of one of his favorite topics: That the...
  • The G.O.P.’s Existential Crisis (NYT version why we're not actually in debt, and the GOP is dying)

    12/14/2012 9:38:35 AM PST · by darrellmaurina · 13 replies
    The New York Times ^ | 12/13/2012 | Paul Krugman
    We are not having a debt crisis. It’s important to make this point, because I keep seeing articles about the “fiscal cliff” that do, in fact, describe it — often in the headline — as a debt crisis. But it isn’t. The U.S. government is having no trouble borrowing to cover its deficit. In fact, its borrowing costs are near historic lows. And even the confrontation over the debt ceiling that looms a few months from now if we do somehow manage to avoid going over the fiscal cliff isn’t really about debt. No, what we’re having is a political...
  • Marc Faber: "Paul Krugman Should Go And Live In North Korea"

    12/13/2012 10:42:36 PM PST · by ExxonPatrolUs · 8 replies
    zerohedge ^ | 12/13/2012 - 21:18 | Tyler Durden
    If there is one thing better than Marc Faber providing a free, must-watch (and listen) 50 minute lecture on virtually everything that has transpired in the end days of modern capitalism, starting with who caused it, adjustable rate mortgages, leverage, why did the Fed let Lehman fail, why was AIG bailed out, quantitative easing, Operation Twist, where the interest on the debt is going, which bubbles he is most concerned about, a discussion of gold and silver, and culminating with his views on a world reserve currency, is him saying the following: "The views of the Keynesians like Mr. Krugman...
  • PBS NewsHour Fails To Press Left-Wing Activist on Entitlement Inaccuracies

    12/08/2012 10:59:35 PM PST · by Olog-hai · 3 replies
    NewsBusters ^ | December 07, 2012 | 18:47 | Matt Vespa
    The PBS NewsHour has yet to invite a strong conservative on the program to talk about the fiscal cliff. Tuesday night they had New York Times columnist, left-wing economist, and Obama cheerleader Paul Krugman to detail his view. Wednesday night they had moderately-conservative Sen. Bob Corker (R-Tenn), but last night was the most interesting. PBS invited the Norquist of the left, Max Richtman, of the National Committee to Preserve Social Security and Medicare, who insisted we shouldn’t be in a rush to reform our entitlement spending. After all, when the unfunded liability of both programs is around $100 trillion, what’s...