GPS: Paul Krugman - Part 1 - July 4, 2010

[higheddy89]

Towards the end, he stated that the stimulus was insufficient, does anyone know the amount he proposed? I'm curious. . . just want to calculate what our shit hole would have been if we followed through, and how much hassle we rid by reverting to the already horrid 800 billion.

[salrap124]

Paul Krugman, my dad loves your shit

[zuzupetals1999]

Krugman is a complete idiot.

[ArgentThug]

@zuzupetals1999 and a scum, a piece of shit, a waste of this society.

[cetnik03]

krugman is an idiot man is a fag, and a moron, anybody who lissens to him is a retard just like him.

[GoVikes0]

@georgesorosisgay You crazy bigot, don't you realize that racists like you are poison to America. Why would you hate someone like Krugman. It is people like you who hurt America's standing abroad by hurling these racist comments. Krugman is a brilliant economist who exposes the fallacies of morons like Ryan who cannot understand economics. He actually understands what he is talking about and America can take lessons from him

Go learn economics you racist pig

[vorrifmn]

wow krugman vs fergeson, this is like paquiao vs ali!

[nkristianschmidt]

Actually people spend more on stuff where prices are falling than on stuff where prices are rising. Besides being logic, it's also stated in some new inflation reports. PC's and clothing sell well. They have been deflationary for at least two decades. His take on public spending is probably also wrong. Studies on 50 US states show that removing public spending increases private spending by two to one. The 1929-39 depression included public spending taking up 50 pct more of GDP 1931 onwards.

[Beeffyviolin]

Sounds to me like Krugman wants to kick the can down the road for another 15 years and the next administration can clean up his mess...

[Mtmelendez]

This is probably the best show currently on television. By far the most important one.

[jimberkt]

This guy has a lot of the physical ticks and behavioural symptoms of aspergers syndrome which is like a mild form of Autism.

Hey if you give out 300trillion to everyone in america then everyone will be a millionaire. That sounds like a good economic policy.

[fixmyhvac]

This guy makes $20000 an hr and has no clue .We all will buy more if goods get cheaper.These rich guys are the only ones who have more then they need to spend .If us regular joes had more we start buying and these rich fucks will still profit cause they are invested and own the corps. Send some more money to Israel that will fix it LOL

[WingThaiJ]

Krugman is a pencil pusher. He doesn't know how business works in the real world. He's a laughing stock by the worlds business entrepreneurs. He's got a gimmick and he's exploiting people's ignorance. Jim Rogers is right, Krugman is an IDIOT

[assassthenation]

@WingThaiJ Pretty sure "the world's business entrepreneurs" aren't laughing at much these days, because an avalanche of financial crises Krugman predicted in detail years ago have wiped out their assets, customers, creditors and overall hope for the future.

It's called economics, not business. Which is the difference between a climate scientist and your local weatherman. Krugman has a PhD; he's not some MBA (a joke degree) in a monkey suit.

[roaddog0111]

he never addresses the govt inability to do things without fucking shit up. hes an idiot and proves the nobel prize is a sham

[TheGreatPenetrator]

This guy is simply idiot - nothing more. Behold, Paul "the Idiot" Crookman.

[hoodoo961]

@TheGreatPenetrator Seems as if you've never been "penetrated" by a book.

[WingThaiJ]

@TheGreatPenetrator CORRECT

[gggjjj44]

I also think that banking reform will help more to get the economy back on track than keynesianism. If we don't adopt tough banking regulation there will continue to be one bank bail out afteranother. The bankers are indeed robbing us.

[psa12]

To adopt fundamental regulatory reform of the banking sector should be our main priority. Businesses cannot flourish if the banking sector is not properly regulated. Without proper banking regulation all keynesian initiatives won't help that much. What needs to be regulated is: derivatives and all instruments of financial bets/ gaming, accounting standards, capital requirements of banks, consumer credit rules, short-selling, hedge funds, close loopholes for "creative" accounting etc. 

[no2party]

Krugman has all the intellectual capability of a tennis ball drenched in flimflam sauce.

[8644371]

@no2party It's comments like that that do damage to debate.

[TheMexihcatl]

@no2party As does your comment...

[capncrunch93able]

All that comes out of Krugman's mouth is 'shill, shill, shill,' parroting the Fed's line. He must have his eye on Bernanke's job. Let me know when the debt policy pays off for you America. Enjoy your next crash, the govt debt crises- it'll be a doozy. China doesn't need the US- it's own market is developing & will be able to consume more of it's products and diversify out of the dollar. Washington is your Versaille, Gulf your Chernobyl, Krugman won't have any accountability to those he lies to.

[tomabc2003]

Maybe the world shall try my TARGET ECONOMIC STIMULUS theory.  The world focus on industry that productive resource, target the area to make stimulus money work.

[tomabc2003]

Mass economic stimulus is like flowing money in water, keep the ship going. Soon or later everybody will run out money to flow into the water. There is broking point where thing will get worst. No saving, to make the whole economy to go by spending where people don't have job is joke. The ship will go down, when interest rate head 6% for U.S.

[msturg80]

@tomabc2003

what are you saying....it's really hard to follow....

But i think you're saying that you can't stimulate the economy through stimulus packages for ever, and youre right. But you stimulate until the private sector begins growing again. And slowly pulling back on spending and it begins to.

Then during boom times you pay down you debt accumulated from borrowing. Look at the 50's, 60's, we were paying down huge debt from ww2.

Then look at the 90's, we paid down debt.

[tomabc2003]

@msturg80

It tough time ahead, the mortgage issue is not over, unemployment is high. Where do you get money pay down the debts. There is broking point stimulus packages will cause inflation and high interest rate. The private sector will be end up paying bill with high taxes. The US have lost global influence look what happen in G20, no more G7.  The U.S stimulus package move forward and rest world is doing opposite.

[MrBloody32]

I love Paul, but does anyone else see a contradiction between his view on tax cuts and his view on unemployment benefits? Paul claims that tax cuts are bad because people are more likely to save the extra money and pay down debt than spend it. But isn't the same true of unemployment benefits?

[uru86]

@MrBloody32 No, because ppl on UI have to spend the money. The UI is very low, and its meant to cover their basic needs; ergo, they cannot save that money, or pay down their debts. We know that the most effective way to create a stimulus in the economy is through giving money to the unemployed and the worst way is through tax cuts.

[ArgentThug]

@uru86 People use UI to pay down their mortgage all the time and save the rest, last thing they do is go buy new and unwanted stuff, I don't see how that will stimulate the economy.

[ArgentThug]

@MrBloody32 and stimulus money

[lordhighexecutioner]

This experiment took place in 1930-32 with disastrous results. In Germany, the Hungerkanzler carried out the most extreme version of this causing Hitler to tell crowds of the "thousands of unemployed people putting their heads in the gas ovens to kill themselves".

[getplaning]

Fareed is the last real journalist left at CNN.

[JohnAdamCulligan]

@getplaning I'm not sure I would say journalist, though that's certainly debatable.

I would agree, though, that he's the only one at CNN worth watching and taking seriously.