So my bill is 10,000,000,000,000 times better than yours.
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 ...
If it’s that simple, can I print out a few $20s, too?
And it would increase the cost of our imports, including oil. We are running a trade deficit now.
This is who Danny Glover wanted for Sec. of Treasury. A real brain trust liberals are.
Krugman is a skank!
Back during Bush’s years Krugman said that Bush’s billion dollar deficits were going to collapse the USA. The guy is a freakin’ skank.
“Krugman calls on Bush to reign in the red”
Broadcast: 11/03/2004
http://www.abc.net.au/lateline/content/2004/s1064193.htm
PROFESSOR PAUL KRUGMAN, PRINCETON ECONOMIST: Well, basically we have a world-class budget deficit not just as in absolute terms of course - it’s the biggest budget deficit in the history of the world - but it’s a budget deficit that as a share of GDP is right up there.
It’s comparable to the worst we’ve ever seen in this country.
It’s biggest than Argentina in 2001.
Which is not cyclical, there’s only a little bit that’s because the economy is depressed.
Mostly it’s because, fundamentally, the Government isn’t taking in enough money to pay for the programs and we have no strategy of dealing with it.
So, if you take a look, the only thing that sustains the US right now is the fact that people say, “Well America’s a mature, advanced country and mature, advanced countries always, you know, get their financial house in order,” but there’s not a hint that that’s on the political horizon, so I think we’re looking for a collapse of confidence some time in the not-too-distant future.
A future weakening of the dollar means you should buy and store now as many non-perishable items as you can afford and know you will use for many years.
That would include clothes, furniture, hobby items, etc.
This also protects you against future increases in sales taxes and any future value added taxes.
So my bill is 10,000,000,000,000 times better than yours.
I am afraid I am stupid.
If Krugman is right why are we paying taxes?
The Government can just print what they need and leave us alone.
When the lenders catch on (and I'm surpised they haven't already) the spigot of real money is going to run dry.
Very cogent synopsis. Thanks.
Just a wild-assed guess, but I think they already have one. Thinking that they’re just working on a home-grown delivery system. But then I wonder why the Chi-Comms or NORKS haven’t supplied one of theirs. Who knows for sure?
Sure thing; we can buy all they can ship in to us. Crank-up the $-presses. That Krugman creep makes my skin crawl; all of the delusional, marxist lib-dem trash do.
Afterthought: if you or I ran a business like those morons run the corrupt, criminal US Govt, we’d have crashed and burned, long ago.
In other words, we can tax people by making their money worth less. Or worthless.
Wow... so why didn’t the interviewer call this guy what he is - a damned thief.
“Printing money” is simply stealing from the savings of the elderly.
pricing on such items can deflate due to reduced demand... which is why I’d consider gold and when the time comes, exchange gold for dollars at that time, and buy the item... negating the inflation
So, which Paul Krugman idea does everyone like better:
A. Minting one trillion dollar platinum coins.
OR
B. Printing trillions of dollars of paper currency with no intrinsic value.
In my humble opinion they are equally brilliant. The choice is difficult.
Oh, I also think the Zimbabwean alternative of issuing currency with an expiration date is another brilliant idea. I hope Krugman will give this alternative the same careful thought as the other two.
And the wages of every working-person in the country.
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