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Krugman in Wonderland One of the favorite lines from American Progressives that is used whenever someone speaks of something good that occurred in the past is: “You want to turn back the clock.” To get a sense of how often the phrase is used in just the New York Times, I did a Google search on [...] Krugman-in-Wonderland Paul Krugman is in Spain this week, most likely telling the Spaniards what they want to hear: The European Central Bank can end the country’s unemployment miseries painlessly by buying near-unlimited amounts of Spain’s government bonds and then floating massive amounts of new euros around the world. Yes, for the umpteenth time, Krugman insists that if [...] Krugman-in-Wonderland Perhaps the most constant theme in Paul Krugman’s recent columns has been his unwavering belief that the only way out of this depression is for governments to borrow and spend, and for central banks to inflate. He continues to beat the old drum that (1) there is not enough regulation of business, (2) [...] Krugman-in-Wonderland Paul Krugman apparently sees the problems in the economy as a vast Republican Conspiracy to deprive Americans of economic prosperity. According to Krugman’s view of the world, if we want real prosperity, we have to raise taxes, borrow more money, put more public employees on the payroll, and bail [...] Krugman-in-Wonderland Not only does Obama’s Shill-in-Chief Paul Krugman have economics wrong, he has economic history wrong as well. One of the constant themes of Paul Krugman’s writings these days, other than shilling for Barack Obama and Democrats in general, is the walk down memory lane to the nation’s idyllic past where tightly-regulated industries [...] Krugman-in-Wonderland When it became clear in 2007 and beyond that the housing bubble was breaking up and the bills for the national spending spree were coming due, the Bush administration shifted into “stimulus” mode. (It was nice getting an extra $2,100 in my checking account, but I defied the government and paid some bills instead [...] The Daily Capitalist views economist Paul Krugman as the epitome of Keynesian economics. That is, as an adherent of a fundamentalist economic philosophy that is invalid, proven to be invalid time and time again, and which has never served to create prosperity. Rather it does the opposite by destroying capital, by [...] |
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