Tag Archives: krugman

An Alien Invasion Would Boost the Economy…Says Paul Krugman

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Paul Krugman

Let’s start out by saying that Paul Krugman probably doesn’t really think the government should lie to the country about alien invaders attacking the world just to boost the economy and create jobs. Still, that’s the analogy he used while appearing with Fareed Zakaria on CNN and trying to explain the brilliance… Broadcasting platform : YouTube Source : The Blaze Discovery Date : 15/08/2011 19:32 Number of articles : 2

An Alien Invasion Would Boost the Economy…Says Paul Krugman

ABC’s Paul Krugman: United States Could Be Socialist Like Europe If It Weren’t So Racist

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Paul Krugman seems to think that Racism is the only that that stands in the way of Socialism in this country. Wow.. Paul Maybe Freedom loving Maericans have something more to do with it than racism. Hat Tip The Blaze Broadcasting platform : YouTube Source : P/Oed Patriot Discovery Date : 06/04/2011 19:55 Number of articles : 2

ABC’s Paul Krugman: United States Could Be Socialist Like Europe If It Weren’t So Racist

Krugman: ‘Heartless, Clueless and Confused’ GOP Block Unemployment Benefits

New York Times columnist Paul Krugman is angry the Senate hasn’t once again extended unemployment benefits, and he’s blaming “heartless, clueless and confused” Republicans. “There was a time when everyone took it for granted that unemployment insurance, which normally terminates after 26 weeks, would be extended in times of persistent joblessness. It was, most people agreed, the decent thing to do,” the Nobel laureate wrote Monday. “Yet the Senate went home for the holiday weekend without extending benefits. How was that possible?” asked Krugman. Unfortunately, his answer will be quite disturbing to most on the right: [W]e’re facing a coalition of the heartless, the clueless and the confused. Nothing can be done about the first group, and probably not much about the second. But maybe it’s possible to clear up some of the confusion.  By the heartless, I mean Republicans who have made the cynical calculation that blocking anything President Obama tries to do – including, or perhaps especially, anything that might alleviate the nation’s economic pain – improves their chances in the midterm elections. Don’t pretend to be shocked: you know they’re out there, and make up a large share of the G.O.P. caucus. By the clueless I mean people like Sharron Angle, the Republican candidate for senator from Nevada, who has repeatedly insisted that the unemployed are deliberately choosing to stay jobless, so that they can keep collecting benefits. But there are also, one hopes, at least a few political players who are honestly misinformed about what unemployment benefits do – who believe, for example, that Senator Jon Kyl, Republican of Arizona, was making sense when he declared that extending benefits would make unemployment worse, because “continuing to pay people unemployment compensation is a disincentive for them to seek new work.” In reality, Krugman is the clueless and confused person in this discussion, as well as disingenuous. Utilizing his classic bias by omission strategy, he led readers to believe that the unemployed haven’t gotten any benefits extensions up to this point, and that Republicans have been blocking them for years, But nothing can be further from the truth. As the Wall Street Journal reported in November: The latest extension of unemployment benefits couldn’t come at a better time, it seems; President Barack Obama signed legislation into law Friday providing an additional 14 to 20 weeks of benefits for those who have already exhausted theirs or will do so by year-end. The extension comes on the same day the Labor Department announced the U.S. unemployment rate hit 10.2% in October, crossing into double-digits for the first time in 26 years as the nation’s jobless swelled to 15.7 million. The bill, passed earlier this week by both the Senate and the House of Representatives, extends federal jobless benefits by 14 weeks for Americans in all 50 states who face exhaustion before year-end, and by 20 weeks for those living in states where the unemployment rate is 8.5% or higher. And here’s the inconvenient truth Krugman and his ilk want to hide as they point fingers at “heartless, clueless and confused” Republicans:   The additional 20 weeks in hard-hit states means the maximum a person in one of those states could receive is now up to 99 weeks, or nearly two years – the most in history. That’s right: some unemployed Americans have been receiving benefits for almost two years, and that is longest in our nation’s history. Kind of tramples Krugman’s “heartless” position, doesn’t it? Taking this a step further, the Welfare Reform Act of 1996 stipulated that most adult welfare recipients have to find work within two years of the start of their benefits. This means that in theory, even our nation’s poor are required to find jobs at some point in the future.   Shouldn’t that apply to folks across all income strata? In the end, Republicans as a whole aren’t typically against extending unemployment benefits when economic conditions warrant such action. However, two years seems like a fine deadline to give people to find a job. After all, despite the contention by the Left that this is the worst recession since the Depression, unemployment still hasn’t risen to levels we saw in the early ’80s. With this in mind, why should unemployment benefits last longer now than they did then? Sadly, the clueless and confused Krugman didn’t answer that question. Color me unsurprised. 

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Krugman: ‘Heartless, Clueless and Confused’ GOP Block Unemployment Benefits

Angry Keynesian: Krugman Threatens to ‘Punch’ Detractors ‘In the Kisser’

Paul Krugman is known for throwing a bomb or two from his platform in the New York Times, but it’s really tough to take him for a violent fellow. In his July 2 blog post , “I’m Gonna Haul Out The Next Guy Who Calls Me ‘Crude’ And Punch Him In the Kisser,” Krugman lamented criticism of his support for more stimulus spending. A July 1 editorial in The Economist noted that the economy needs more private spending, not more government spending. “Mr Krugman’s crude Keynesianism underplays the link between firms’ and households’ behaviour and their expectations of future tax and spending policy,” the editorial said. “For example, firms across the rich world are hoarding cash. Their reluctance to invest may have more to do with regulatory, financial and fiscal uncertainty than weak consumer demand (see article ). If governments address those worries, businesspeople may start spending.” But Krugman argued he does get it, but disagrees – although he didn’t seem to address this argument of long-term spending. Instead, he called for more Keynesian medicine . “All through this debate, a recurring theme among anti-Keynesians has been that Keynesians like me or Brad [DeLong of Grasping Reality with Both Hands ] are ignorant primitives who don’t know anything about modern macro,” Krugman wrote. “It’s really hard to see where that comes from, since I’ve done plenty of intertemporal optimizing in my time. Part of the problem seems to be that the people saying this are taken aback by what we’re saying because they don’t actually understand the implications of their own models .” Over the past couple years, Krugman has been an outspoken advocate of government stimulus spending, criticized a $775 billion stimulus plan for being too small , called for a second stimulus , and even claimed in 2008 that “we probably have $10 trillion of running room ” when asked how much the government could spend to turn the economy around. But that begs the question – could a conservative economist get away with suggesting he wants to “haul out the next guy who calls me ‘crude’ and punch him in the kisser? Doubtful.

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Angry Keynesian: Krugman Threatens to ‘Punch’ Detractors ‘In the Kisser’