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Krugman(?): If only the earthquake had done more damage, the economy would have gotten a boost
Hot Air ^ | August 22, 2011 | ALLAHPUNDIT

Posted on 08/23/2011 7:48:47 PM PDT by RobinMasters

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.

(Excerpt) Read more at hotair.com ...


TOPICS: Business/Economy; Constitution/Conservatism; News/Current Events; Politics/Elections
KEYWORDS: bastiat; brokenwindowfallacy; brokenwindows; commienomics; dcearthquake; dementalillness; economics; keynes; keynesianism; krugman; stimulus; thedestroyers
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To: ElectronVolt
..................Destruction doesn't bring prosperity! It's not possible that creating and then destroying large amounts of wealth is good for an economy. What brought us out of the Great Depression was an end to Roosevelt's policies. He himself ended many of them and turned to business leaders when he had to build the economy for war..........

Fully and totally disagree! WWII, since it was not on our land, mobilized an undercapacity manufacturing colossus overnight into a 24/7 productive enterprise. Yes, the government was paying the wages, but the effort ended the unemployment of the depression, while the national debt was paying the tab.

Today it's different. Today the national debt increases daily due to the bloodsuckers of the nation, me included on SS, without adding anything to our nation.

21 posted on 08/23/2011 8:28:26 PM PDT by Noob1999
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To: Noob1999
As I’ve posted before, I just don’t understand why parents would spend $50,000 a year to send Biffy or Buffy to Princeton to be taught by the likes of asshats like Krugman or Blinder. Mind boggling!

It worked for Michelle. She has no talent or brains, despises her country, is on vacation every other week, wears $800 tennis shoes, and eats like royalty. (Though I don't think she paid $50,000 a year to go there.)

22 posted on 08/23/2011 8:30:23 PM PDT by Moonman62 (The US has become a government with a country, rather than a country with a government.)
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To: ElectronVolt
I also hear Rush Limbaugh frequently say that WW II brought us out of the Great Depression. This is also nonsense. Destruction doesn't bring prosperity! It's not possible that creating and then destroying large amounts of wealth is good for an economy.

Beg to differ. Limbaugh was right. WW II is what got us out of the Great Depression.

But you're right, too. Destruction of wealth doesn't bring prosperity. But, in the case of WW II, we weren't the ones suffering destruction; we were meting it out.

Europe and Japan are the ones who took an economic beating in WW II.

23 posted on 08/23/2011 8:33:10 PM PDT by okie01 (THE MAINSTREAM MEDIA: Ignorance On Parade)
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To: Iron Munro

Paul is a mentally sick person. Proven over and over and over.

This was his post and his demented mind found sense in it. Why? In his twisted, socialist, Keynesian-istic mind this was justice and impetus for gigantic new public works his FDR’d mind craves.

Thoughts of the people, families, bank accounts, and futures disturbed? Meh. Desperately hoping for a massive natural disaster that then might, might, in some form or fashion give another gasping breath to his tired and failed model of government spending magically producing more dollars out than in. Yes.

Compassion for people? Uh, no. Padlocked slavishness to a decimated failed theology and looking for any chance to see it a minute reprieve? Without a doubt.


24 posted on 08/23/2011 8:33:44 PM PDT by JoenTX (Don't Tread on Me)
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To: E. Pluribus Unum; LyinLibs; All

Thanks. I was gonna link to Bastiat. Great thread. BTTT!


25 posted on 08/23/2011 8:35:43 PM PDT by PGalt
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To: RobinMasters
Krugman(?): If only the earthquake had done more damage, the economy would have gotten a boost

So I guess we could say that the London riots are really a form of economic stimulus.

Destruction is Construction!

26 posted on 08/23/2011 8:43:54 PM PDT by the invisib1e hand
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To: Jim Robinson

What a jerk!


27 posted on 08/23/2011 8:51:31 PM PDT by proudpapa (Palin-West - 2012)
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To: ElectronVolt
WW II brought us out of the Great Depression. This is also nonsense. Destruction doesn't bring prosperity!

Destruction had nothing to do with it. What was destroyed in the US?

WW2 put the country to work...building ships, airplanes, tanks, bombs, guns...and other war stuff. I think that is what is meant by the universal opinion that WW2 brought an end to the Great Depression.

The national workforce was mobilized working for the war effort.

28 posted on 08/23/2011 8:54:45 PM PDT by lonestar (It takes a village of idiots to elect a village idiot.)
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To: RobinMasters

I always considered earthquakes extremely good for business but only if they are over 7.0!

5.9 can’t hardly be considered more than an earth fart!


29 posted on 08/23/2011 8:59:02 PM PDT by dalereed (uity wise!)
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To: lonestar

Not only that, but who in the world (besides the USA) had a standing infrastucture and operating factories to produce stuff after WW2?


30 posted on 08/23/2011 9:00:27 PM PDT by going hot (Happiness is a momma deuce)
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To: RobinMasters

The bi-centennial anniversary of the New Madrid earthquakes is coming up in December; maybe Krugman gets lucky.


31 posted on 08/23/2011 9:11:38 PM PDT by Mike Darancette (O-blame-r)
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To: RobinMasters
Too bad Krugman couldn't have given his local mortician some of his business.
32 posted on 08/23/2011 9:15:12 PM PDT by airborne (Paratroopers! Good to the last drop!)
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To: RobinMasters

Amazing! Krugman is an enthusiastic advocate of the broken window fallacy!


33 posted on 08/23/2011 10:00:06 PM PDT by YHAOS (you betcha!)
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To: E. Pluribus Unum

The fallacy in the Broken Window Fallacy is that it ignores innovation. WWII was like breaking all the windows in the city, then gearing up to make windows 10 times better at half the price. And not just the windows.


34 posted on 08/23/2011 10:12:35 PM PDT by dr_lew
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To: RobinMasters

If that fool Krugman had been advising our ancient ancestors, they would have spent all their time destroying and rebuilding their mud huts and we would never have made any progress.


35 posted on 08/23/2011 10:18:35 PM PDT by Meet the New Boss
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To: dr_lew
The fallacy in the Broken Window Fallacy is that it ignores innovation. WWII was like breaking all the windows in the city, then gearing up to make windows 10 times better at half the price. And not just the windows.

Nonsense. If as a result of innovation, it makes economic sense to replace an old window with a better one, people will make that decision on their own.

If it doesn't make economic sense to replace an old window with a new one, then those resources are better spent on something else.

36 posted on 08/23/2011 10:21:05 PM PDT by Meet the New Boss
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To: Meet the New Boss

So you deny that war stimulates innovation? A new world was created in five years.


37 posted on 08/23/2011 10:25:01 PM PDT by dr_lew
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To: RobinMasters

Hey Paul!

God’s waiting for Obama to return to the White House before collapsing it.

That’s the only way your moronic scenario “improves the economy”!


38 posted on 08/23/2011 10:26:17 PM PDT by G Larry (I dream of a day when a man is judged by the content of his character)
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To: dr_lew

The destruction contributes nothing economically, quite the contrary. I’m completely on board with Bastiat on that.

But I agree with you that war can stimulate innovation. Anything that encourages men to intensely concentrate their minds on technological development, like the motivation of trying to win a war, can produce real progress. Often we see ideas kicking around in civilian science suddenly realize breakthroughs in wartime. There are countless examples of that, from radar to jet engines.


39 posted on 08/23/2011 10:31:17 PM PDT by Meet the New Boss
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To: RobinMasters

“Maybe we can get DHS or the NYPD to blow it up? That’s a few thousand jobs right there.”

That’s called “covering Economics from a gay point of view”, courtesy of the entirely gay editorial board at the New York Times


40 posted on 08/23/2011 10:38:45 PM PDT by tcrlaf (PREFRONTAL LOBOTOMISTS FOR OBAMA2012!)
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