Please note that my book Keynes Hayek: The Clash That Shaped Modern Economics is published by W.W.Norton in October.
Professor John B.Taylor says that: “Nicholas Wapshott brings the Keynes-Hayek fight of the 20th century back to life, making the clash both entertaining and highly relevant for understanding economic crises of the 21st century.”
Read an extract at: sites.google.com/site/wapshottkeyneshayek/
The problem with the stimulus was that it was badly designed-sure it saved jobs but mostly for upper middle class people who were politically connected instead of the working poor who have been suffering more than other groups.
Should we really listen to the guy who was telling us we were fine six months before the second biggest economic disaster in our history? Start listening to the guys that predicted this mess. Namely the Austrian economists and Peter Schiff and Ron Paul.
Krugman is either a fool or a charlatan!! His policies have always caused destruction. His policies are summed up like this. The cure for Keynesian economics is more Keynesian economcis!
"To fight this recession the Fed needs more than a snapback; it needs soaring household spending to offset moribund business investment. And to do that, as Paul McCulley of Pimco put it, Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble. "
@NicosMind Be careful when calling others fools, that you should turn out to be the fool yourself. Paul Krugman has addressed this so-called "economic policy" you claim he advocated. He was actually addressing the problem not advocating for the creation of a bubble: krugman . blogs . nytimes . com /2009/06/17/and-i-was-on-the-grassy-knoll-too/
@gnomechomskylives Look up the entire article yourself and youll see that he was advocating for a bubble. But not only was he advocating for a bubble in the article he was also wrong in his prediction that Alan Greenspan would be unable to pull one off!!!
Check out The underlying law of nature. Bing or Google it. Discovered relatively recently, it is possibly the world's most useful knowledge. One of countless reasons–its understanding and application is the most effective and efficient means to improve the performance of any process.
The problem is that no one can be in a position to be objective enough to tell the whole truth, even if they are smart enough to know it. I'm sure that mr. Krugman knows a lot more about economics than I do, and he's probably smarter to. Milton Friedman was a very smart man to, but he was of quite the oposite opition. The discussion is vital and I think you have to think in new ways to come closer to the truth. Economics will never be pure science, like math, it will always be discussion.
@rexdeodium Personally I think that saying economics will never be pure science is like saying that psychology will never be pure science. It's definitely not like mathematics but someday, out of all these discussions, research and actual experiments we will be able to resolve these debates. For the time being, I would still advocate a mixed economy.
Why is it that people always feel necessary to try and give their opinion when they see a video of someone smart saying something? Most people commenting here don't know anything about the financial system, don't know a damn thing about the economy. Probably doesn't even know how the banking system works.
Stimulus packages only works because they create inflation, which lowers real wages, thus reducing unemployment. Nothing has hurt western economies like minimum wages. So many politicians and economists know this but refuse to tell it.
@rexdeodium lol.. u dont know a damn thing. Please keep ur opinions to urself...
Stimulus packages work to keep businesses doing business. You lose businesses u lose jobs, people lose jobs they stop spending. More business is lost, more people lose their jobs.
Bank of America is the worst most corrupt bank in the world. Bank of America harassed me, ruined my credit, charged me over $800 in fees over a 10 day period, tried to humiliate me, and never stopped calling my house- all because of $50 overdraft!!
In one day I was charged over $250 in overdraft fees because of a company that took advantage of my bank account- BofA charges more fees than any bank in the World!
The flaw in his reasoning is that no matter how much we do, do. We can never say it didn't work because he can argue we just didn't do enough.
The flaw in his fiscal policy is the assumption that people will keep buying us bonds to finance the debt he's accumulating and that the interest rate increases will be less than the economic benefit of the stimulus. I'd say he is wrong on both counts.
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Harvard has become a joke. Liberal junk leading toward communism and a dollar collapse....trying to create inflation to stop deflation....where do you stop?
Milton Friedman won a Nobel Prize too and he is still relevant today even though his was won over 40 years ago. Krugman pry won't be remembered even half that long. MF would be rolling in his grave at this ridiculous notion that the gov't can spend us out of a recession.
"You don't know if we can breathe underwater because we haven't tried it with this many gallons."
Literally. You can't apply past stimulus results because they haven't been this big? That's a never ending argument that can be applied countless times. I didn't go to Harvard and even I can figure that out.
i love it. that is excellent. if the gov't is so great at creating jobs and wealth and being productive, it follows we should ratchet up the stimulus even further, how about 30 trillion, think of all the jobs that will be created!!!! we can finally be in a utopia.
Well, a trillion here, a trillion there, whatever.. no idea how we're gonna pay for it... the economy is shrinking it's time to create some inflation and lets make government spending 60% of the GDP.. and lets get Obama to be in charge of it all..
Great idea Krugman. So after this surge of stimulus money is spent then what? We go back to layoffs and foreclosures? There's no quick fix. Secure the financial SYSTEM and encourage growth from the ground up not the top down.
Silly Keynesian believes the multiplier can save us all. You get out what you put in minus inefficiency and waste. While at the same time distorting the structure of production. People don't understand how dangerous this man is he is taken seriously. At best his 'solution' will impoverish us all while making no difference. The worst case is to horrible to contemplate.
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As an Obama Supporter, I've got to say I was disappointed when Krugman didn't get the Treasury position or some other kind of top level economic position. :(
Massive government spending is the only thing that got us out of the great depression. We call this WWII. I sure hope we don't need a war in order to authorize such spending this time around.
You know and I know that the government and Obama and his friends are trying to get money for themselves. They are making it harder to live in America. 6th graders can solve this ressession! I don't know why is it hard to keep things going like it was wa before this ressession. The package is not enough, it will never be enough until an hones person actually steps up and take control.
maybe he finished his economy university in Zimbawe,the guy is a complete imbecile,isn't it obvious?He can suck our cocks with his 1.3 trillion plan.You stink Krugman!
Amazing this guy has a job. This guy does not understand economics. And Harvard Business School is interviewing him. I just don't understand why thye School does not understand what is happening, they are supposed to study this subject with great vigor and debate.
I think that Harvard is lying, I think they do know this is bad for the USA, and economics. I think they have other motives. I think they are smart enough to know what is really happening and how to solve the problem....
yes, i'm going to take the advice of someone who writes "azz" ahead of a guy who got the Nobel price in economics. After that i'm going to join the Jeb for president campaign. I'm that stupid, I really am.
He is a spotlight-seeking, celebrity wannabe, light-weight that should never have won a Nobel. Serious economic academics are still stunned by his winning of that award. He'll be guest hosting on the View in a couple more years. Maybe filling in for Dr. Phil when he's on vacation.
I know the Obama adminstration does not like the criticisms of Paul Krugman, but they may need to take a second look on what he is saying. Maybe a replacement for Tim Geithner as treasury secretary if his current does not cut the mustard and we are still in the economic crisis by this time next year or 2 years.
Hi, my name is Remington Draper and I gave my heart to the Lord Jesus Christ in the summer of 2003 because I realized that I had broken God's Commandments and that He was going to judge me by them of judgment day. The same is true for everyone reading this. The good news is God Loves You! and sent Jesus to pay the price for our sins and if your willing to repent (which means to turn away from your sin) and put your trust in the Lord Jesus only to save you, He will and give you eternal life.
from my information Obama wanted to make a bigger stimulus plan but the republicans oposed to it. The republicans want the crisis to get bigger so obama = crisis. Its politics. I suppose the republicans are telling now that the market can alone solve the problem. I really dont thinks so
I know what you mean. More people are starting to find out about the World Food Code - Codex Alimentarius.
It appears our government is being manipulated one way or another to serve the goals of the UN, the World Health Organization and the World Trade Organization. Food control equals people control -- and population control. Is this beginning to sound like world government and one-world order? Could this be the real goal behind Codex Alimentarius?
I agree that government has to drastically increase spending to compensate for the crippled private sector. That's the only way to turn the economy around. But Krugman's ideas of doubling Obama's stimulus package & nationalizing banks would risk seriously undermining the confidence of foreign investors & U.S. markets. Trust is as important as capital in bringing about a recovery. Therefore, I think Obama's plan is more prudent than Krugman's. (& the GOP is in total denial.)
There is no money left, we spent it all, and printing more just deflates the dollar even more.
Our financial system is a failed model that doesn't work with such a HUGE populous. Something needs to change drastically, and there will have to be great sacrifice for a while, unfortunately.
La Hora de la Tierra es un evento de escala mundial que no está dirigido únicamente a ahorrar electricidad durante una hora determinada sino que además sirve de inspiración a las personas, empresas y gobiernos para reflexionar sobre sus hábitos de consumo de energía. Mas informacion ingtk tk
Youtube esta borrando todos los videos de anime poco a poco.Cada noche a las 10:00p.m. ellos tienen un mantenimiento que que borra videos que son de anime...Para hacer que Youtube deje de hacer eso, necesitamos que bastante gente proteste...Para hacer eso, por favor ayuda copiando y pegando este mensaje a todos
The main reason for this profound Anglo-American economic slump, is that I have been getting sandbagged and albatrossed and badmouthed, respectively, by American bigots, stupid corporations, and incompetent if not downright malevolent government bureaucrats and politicians and minions. It ain't Rocket Science. Thank God I remain smart, work experienced, creative and optimistic in my own make-up. No thanks to "my fellow American" neighbors, bosses, academicians, clerics and institutions.
Mr. Krugman claims the shortfall will be $2.9 T (or bigger). He then complains that the Obama plan isn't big enough, using the half a loaf line. When asked how much stimulus he recommends, he says $1.4 T (isn't that HALF A LOAF?).
If he failed to understand derivatives (shadow banking) and how bad the US financial system would get AND underestimated the impact on the rest of the world's economies, why the hell do we care WHAT NONSENSE he recommends?
The CRA is a straw dog. Not sure why it's so hard to accept that simple greed, spurred by the loosening of controls under Reagan, Clinton and Bush, caused this mess. You can blame subprime lending, the repeal of Glass-Steagall, and the decoupling of CEO profits from company performance, but not the Community Reinvestment Act. See conservative Kroszner's rejection of the CRA argument in the Wall Street Journal, 2008/12/03.
IT's not GOP arguements. It's simple logic. Sure, in an ideal world his plan would help the economy. But we don't have the capital to put it to use. Unless enslave ourselves more to China or the Fed, or discover the cure for cancer. You guys don't see how America is changing drastically. Government's role is getting ever bigger and widespread. Keep on letting them do what they want and one day you'll wake up in a psuedo-socialist nation.
Yah, Stimulus Plan 2.0. Twice as fast to undermine the economy. I understand the cycle of less production -> less employment -> less production. But socializing the United States is a push in the wrong direction. Once we start taking these steps, we're undermining the original purpose of making America. How are you gonna pay all the employees to nationalize these banks? How you gonna pay for infrastructure? The U.S. will never be the same if we keep on doin what we're doin.
The Nobel Prize in Economics is a joke. It's a prize in honor of Mr. Nobel set up by the Swedish Bank. Though it still has a deliberation process similar, isn't there a conflict of interest regarding what and who these awarded achievements benefit?
all the problems we have in this country...i think we need to either ride them out or adapt to them accordingly: it would save alot of time and rage if we just adapted rather than try to erase the problem itself...people have a point on here...we will be damned before we become a socialist country
wow...my opinion on all of this is that we live in a democracy so people need to make independent decisions and right choices...the government should not have to clean up after the people's mess that is not their job, and the people should not have the job of cleaning up the governments messes either...i think this whole market crisis partially has its blame on the people on making poor decision when it came to their money, but of course the banks were to blame to...i find it impossible to fix
I think Paul Krugman applied for a position in this Admin. and was not picked. He really has changed his tune to a point of sounding weirdly strange in his criticism... hmmmmm!
This guy is a joke? Massive health care? Massive infrastructure, no spending cuts, but 1.5trillion plus in new spending? Federalization of private business? He wants America to be a socialist country. How the hell do we get the money to do this? This guy makes no sense, government has no wealth, they just redistribute. It's not the gvt.'s job to protect people from dumb decisions, let the market correct. How did this joker receive a nobel prize?
We'll, he wants us to be like Europe - as if that's panacea. Which is why there are so many relatively conservative governments there, people like Krugman really messed things up. Reality is that countries that receive large amounts of immigrants won't give all these social nets.
I have respect for Krugman as an economist, but man, Keynesians have been bitching ever since 1981 - until now, since Obama has an ear out for those economists - with all the amnesia of the 70's, but oh well!
Here's an idea: Why haven't we outlaw the Community Reinvestment Act which contributed to the overly heating the housing market with buyers who could afford the houses they bought. Ounce the housing market started to decline refinancing became impossible without any equity built up. Thank you Jimmy Carter, Bill Clinton, Barney Frank and Maxine Waters.
vbmbs, this argument conservatives use about the Community ReInvestment Act is overblown. Most of the big subprime lenders wasn't even under the CRA and most of the banks under CRA was way more invested in subprime than required under the CRA. All these companies got into subprime because it was a ton of money to be made with them. They basically turn the mortgage business into the credit card business. CRA played a role but it wasn't the main cause of the crash.
Well Verdumdicere, I see you fall back on the old STATIST canard of insults and yes I do know what Keynesian economics is--it supports HEAVY government spending to support the economy which never has and never will work!!!
Screw this guy and his Kensien economics. News flash people that's what got us into this mess in the first place. You can't steal profits from one group who are being productive to make "jobs" for another group and say "look we created a boost to the economy." The piggy-back tower is ultimately destined to fall no matter how you try to restructure it. We must learn from history to improve. Not try to create new depths of disaster, but that's what the global elite money masters want.
Most people think the size of the stimulus package is too big already. Since you disagree, remember President Obama has said he has an open door to anyone with a reasonable solution to our economic problems. Perhaps you should explore that avenue. Then if your ideas have any merit, they will be considered. I'm sure it would better serve the country to use that route rather then a post on Youtube.
Though I agree with Krugman, and I know there's a lot of punks on youtube who think they have degrees in these fields, being a Nobel laureate shouldn't, and doesn't, grant the person a tag that says "I am amazing/one of the best in this field". One need only look to 1973 and 1979, when both Kissinger and M. Theresa won the Nobel "Peace" Prize, respectively.
MononofuBlood: I see what you're saying, but the Nobel in Peace is not the same thing as the Nobel in Economics - the latter being determined by breakthroughs in the field. Peace is far more subjective and intangible. Regardless, I suspect that about 99.9% of Youtube users know jackshit compared to Krugman about Macroeconomics. We live in a society in which everyone thinks they're an expert on something because they took an intro course on the subject at their local community college.
Paul Krugman is a genious I study him on my books about international economics....however about the stimulous package my question is: Where all the money will come from? Humm print press....
Wow, so many mistakes by Krugman in his points. First the USA can't spend without any restraint without destroying the dollar, which means game over for all the economy. ONCE and FOR ALL, USA is NOT Japan. Japan entered the crisis with a huge trade (current account) surplus, budget surplus and the huge glut of savings of the Japanese people. Whereas USA is broke. Krugman should go back to school and relearn how to make comparisons, a course in mathematical statistics would be appreciated.
No offense, but he probably is pretty good at math. If you can tell him what the rao-blackwell theorem is and how it relates to maximum likelihood estimators, and how to use these things better than he can explain them to you, then you may have a point.
See Grandmaster Flash. See NOLA. Only exponentialize it it up through most of the so-called/former middle class when you're talking about between countries and a worldwide Depression, no?
I don't know if this is a joke or something but JP has no where near 200 trillion in debt, that's ridiculous. You can get there balance sheet on the internet easily by googling it. There total liabilities are only a little over 2 trillion in Dec. 2008.
move out where? if we fail so does everyone else. the world economy is all connected now. when something happens in Japan we feel it here right away, and if we fail we bring the whole world down with us.
The wonders you can do by having unbearable debt levels and budget deficit. Why havent we thought of that until now wait a sec we did that for the last decade to fuel the economy and we got to this bubble. Why doesnt he propose a solution that doesnt uses unlimited money from heaven with no regard to the actual effects of such a liability level and actually works with what USA has available, because you just cant pay back that level of debt without huge tax increases.
in a way i kinda want to see the whole thing crumble, i guess cuz i just hate this isolated consumer indoctrinated society.I would rather feel like im in the midst of a revolution than in a world that just wants me to shop and die.
filling buckets of water into a bag with holes... slave system... life on credit and on leashes in many ways... maybe Obama will change this whole system a little...
Interesanto na topic, unsa man gyud diay ang maayong buhaton, para malikayan ning panhitabo sa kalibutan karon?
StroonsGlen 2 months ago
Interesting..
katheryncruz24 2 months ago
Interesting as it is about the government. It was quite short.
pamelbia2011 3 months ago
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Please note that my book Keynes Hayek: The Clash That Shaped Modern Economics is published by W.W.Norton in October.
Professor John B.Taylor says that: “Nicholas Wapshott brings the Keynes-Hayek fight of the 20th century back to life, making the clash both entertaining and highly relevant for understanding economic crises of the 21st century.”
Read an extract at: sites.google.com/site/wapshottkeyneshayek/
Nicholas Wapshott
nhwapshott 7 months ago
What an idiot!
bauler 7 months ago
So the Dow Jones, S&P, and NASDAQ indicators area all at the levels they were in 2008. Can we stop shitting bricks already?
jessemaurais 9 months ago
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This guy is totally nuts.
TheBrotherMouzone 1 year ago
The problem with the stimulus was that it was badly designed-sure it saved jobs but mostly for upper middle class people who were politically connected instead of the working poor who have been suffering more than other groups.
clat1 1 year ago
The 'invisible guiding hand' of free-market economics isn't connected to a brain.
At first it looks fine. 'efficiency' etc.
Some fail. buy-ups & mergers increase competitiveness. it tends to monopoly.
Turnover increases to maximize profit, it tends to saturation.
Now failure means staggering investments, pensions, lost, a generation unemployed = nobody can afford to buy.
Cutting wages to stay in the game only shrinks markets more.
A moronic rat-race.
All it does is create iniquity.
marsCubed 1 year ago
Should we really listen to the guy who was telling us we were fine six months before the second biggest economic disaster in our history? Start listening to the guys that predicted this mess. Namely the Austrian economists and Peter Schiff and Ron Paul.
lukebessey 1 year ago
Krugman is either a fool or a charlatan!! His policies have always caused destruction. His policies are summed up like this. The cure for Keynesian economics is more Keynesian economcis!
"To fight this recession the Fed needs more than a snapback; it needs soaring household spending to offset moribund business investment. And to do that, as Paul McCulley of Pimco put it, Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble. "
Paul Krugman -- Aug 2002
NicosMind 1 year ago 3
@NicosMind Be careful when calling others fools, that you should turn out to be the fool yourself. Paul Krugman has addressed this so-called "economic policy" you claim he advocated. He was actually addressing the problem not advocating for the creation of a bubble: krugman . blogs . nytimes . com /2009/06/17/and-i-was-on-the-grassy-knoll-too/
gnomechomskylives 3 weeks ago
@gnomechomskylives Look up the entire article yourself and youll see that he was advocating for a bubble. But not only was he advocating for a bubble in the article he was also wrong in his prediction that Alan Greenspan would be unable to pull one off!!!
nytimes . com/2002/08/02/ opinion/dubya-s-double-dip.html ? scp=4&sq=krugman %20 mcculley% 20bubble&st=cse
NicosMind 3 weeks ago
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Check out The underlying law of nature. Bing or Google it. Discovered relatively recently, it is possibly the world's most useful knowledge. One of countless reasons–its understanding and application is the most effective and efficient means to improve the performance of any process.
TedDGPoulos 1 year ago
all of his credentials cast a huge shadow of doubt on his position.
GrandArchitect3D 1 year ago
this guy looks like an economist
sfsTrader 1 year ago
The problem is that no one can be in a position to be objective enough to tell the whole truth, even if they are smart enough to know it. I'm sure that mr. Krugman knows a lot more about economics than I do, and he's probably smarter to. Milton Friedman was a very smart man to, but he was of quite the oposite opition. The discussion is vital and I think you have to think in new ways to come closer to the truth. Economics will never be pure science, like math, it will always be discussion.
rexdeodium 1 year ago 2
@rexdeodium Personally I think that saying economics will never be pure science is like saying that psychology will never be pure science. It's definitely not like mathematics but someday, out of all these discussions, research and actual experiments we will be able to resolve these debates. For the time being, I would still advocate a mixed economy.
Achilles9924 1 year ago
Why is it that people always feel necessary to try and give their opinion when they see a video of someone smart saying something? Most people commenting here don't know anything about the financial system, don't know a damn thing about the economy. Probably doesn't even know how the banking system works.
Kin94285 1 year ago
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ZHLu 1 year ago 7
Stimulus packages only works because they create inflation, which lowers real wages, thus reducing unemployment. Nothing has hurt western economies like minimum wages. So many politicians and economists know this but refuse to tell it.
rexdeodium 2 years ago
@rexdeodium lol.. u dont know a damn thing. Please keep ur opinions to urself...
Stimulus packages work to keep businesses doing business. You lose businesses u lose jobs, people lose jobs they stop spending. More business is lost, more people lose their jobs.
It's a cycle.
Kin94285 1 year ago
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Bank of America is the worst most corrupt bank in the world. Bank of America harassed me, ruined my credit, charged me over $800 in fees over a 10 day period, tried to humiliate me, and never stopped calling my house- all because of $50 overdraft!!
In one day I was charged over $250 in overdraft fees because of a company that took advantage of my bank account- BofA charges more fees than any bank in the World!
mattt1ooo 2 years ago
The flaw in his reasoning is that no matter how much we do, do. We can never say it didn't work because he can argue we just didn't do enough.
The flaw in his fiscal policy is the assumption that people will keep buying us bonds to finance the debt he's accumulating and that the interest rate increases will be less than the economic benefit of the stimulus. I'd say he is wrong on both counts.
GaiusIuliusTaberna 2 years ago 3
don't worry, you'll never be an employer
FreakishDonQuixote 2 years ago
@FreakishDonQuixote right o lol
jassfreak87 2 years ago
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Harvard has become a joke. Liberal junk leading toward communism and a dollar collapse....trying to create inflation to stop deflation....where do you stop?
Temple420org 2 years ago
lies!!!
freedominsomalia 2 years ago
クルーグマン氏がノーベル賞？リーマンショックは、日本の投資家の間では２００６年には今のこの危機が話題に上っていました。インド株が頭打ちになったことやアメリカの不動産バブルを見越して、金融収縮でファンドの倒産（それもリーマンもしくはメリル）することは分かっていました。なぜ２００７年になってからでしか分からなかったのしょう？
mamom333 2 years ago
This asshole wants to delay the crash only to completely OBLITERATE IT later on!!
drewd1987 2 years ago
coughHACKcough
Check out Peter Schiff, Jim Rogers, Max Keiser, Marc Faber for the REAL scoop.
drewd1987 2 years ago
Paul Krugman is no Niall Ferguson!
CorisDavis913 2 years ago
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icandevelopment 2 years ago
Milton Friedman won a Nobel Prize too and he is still relevant today even though his was won over 40 years ago. Krugman pry won't be remembered even half that long. MF would be rolling in his grave at this ridiculous notion that the gov't can spend us out of a recession.
umrmecheman 2 years ago
What he's basically saying is:
"You don't know if we can breathe underwater because we haven't tried it with this many gallons."
Literally. You can't apply past stimulus results because they haven't been this big? That's a never ending argument that can be applied countless times. I didn't go to Harvard and even I can figure that out.
ajlepisto 2 years ago
i love it. that is excellent. if the gov't is so great at creating jobs and wealth and being productive, it follows we should ratchet up the stimulus even further, how about 30 trillion, think of all the jobs that will be created!!!! we can finally be in a utopia.
umrmecheman 2 years ago
Never did anyone mention that the goal is to not NEED a job because we planned our future well enough.
Instead, you will get a job...because you HAVE to pay your increased taxes to survive.
ajlepisto 2 years ago
Come home from work and tell your wife; "I've got good news, and bad news..."
"I lost my job, but I qualified for 3 new, high limit Visa cards so our standard of living will remain the same!!"
Obama's Stimulus plan is kind of like that...
randy109 2 years ago
HarvardBusiness, when can I expect Thomas Woods, author of Meltdown to be interviewed by you guys? He's a Harvard guy ain't he?
order9066 2 years ago
Paul Krugman is a joke. This is a example you can have all the education in the world but have no common sense this is what happens
evansville70 2 years ago
Comment removed
benandreas369 2 years ago
HEY BIG SPENDER!
Well, a trillion here, a trillion there, whatever.. no idea how we're gonna pay for it... the economy is shrinking it's time to create some inflation and lets make government spending 60% of the GDP.. and lets get Obama to be in charge of it all..
Great idea Krugman. So after this surge of stimulus money is spent then what? We go back to layoffs and foreclosures? There's no quick fix. Secure the financial SYSTEM and encourage growth from the ground up not the top down.
lvtalon 2 years ago
Thanks a lot for posting HBR videos, anything that can enhance our views and insights is valuable.
duduvissotto 2 years ago
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Where are the captions?
TENSBUDE 2 years ago
128 comments /13663 views is a very low ratio. If speakers would do a follow up video to answer comments, more people might participate.
guddaysunshine 2 years ago
Poser.
Elnejo86 2 years ago
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guddaysunshine 2 years ago
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"reasonable estimates say 1.3 or 1.4 trillion USD"
based on what?? I bet I can do one of these videos.
tucho 2 years ago
Who is John Galt?
MadPutz 2 years ago
Silly Keynesian believes the multiplier can save us all. You get out what you put in minus inefficiency and waste. While at the same time distorting the structure of production. People don't understand how dangerous this man is he is taken seriously. At best his 'solution' will impoverish us all while making no difference. The worst case is to horrible to contemplate.
Malthus0 2 years ago
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The light from a night time sky draws all of your inner strength to your heart. The charioteer represents and brings to you courage, take it in. One must seek courage only when it is needed and therefore concentrate upon these cards only in those times as well.
online strenght spell
april
This Spell was sent to you by april. If you would like to send a spell, please visit e-Tarocchi.
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THIS IS REAL
aprilspl 2 years ago
Someone should just read the questions to him....
hapolian 2 years ago
He's boring
Owleyes888 2 years ago
economists and their assumptions
threelegduck 2 years ago
Comment removed
Hatchwork 2 years ago
Who is better? Greg Mankiw or Paul Krugman?
rockinjkd 2 years ago
I'm sorry
HeySamGraham 2 years ago
watch my animations!
HeySamGraham 2 years ago
Admittedly, I'm sorry to inform you I had no choice but to swallow my own vomit during the animated sequences of this particular video submission.
omgavailablename 2 years ago 2
lol!
dmnxCGi 2 years ago
As an Obama Supporter, I've got to say I was disappointed when Krugman didn't get the Treasury position or some other kind of top level economic position. :(
doomduckie 2 years ago
he wouldn't take it. Read Ravi Batra too if you want to see some good ideas
lisabob22 2 years ago
hi dere,
it take lot of time to see videos .....can u tell me how i can watch the interview videos....!
can u do something fr me, i m new on youtube.
rahul7717 2 years ago
Is this guy actually saying anything?
VioletClub 2 years ago
This has been flagged as spam show
No not really.
ellhow 2 years ago
I want to see Ron Paul and Paul Krugman debate.
utubesucks2003 2 years ago 3
Ron Paul would overkill him!!!
demonheunet 2 years ago
No, Peter Schiff, (Ron Paul's financial advisor) VS Paul "that hack" Krugman.
drewd1987 2 years ago
CLick my name and watch what 4 high school seniors did to get expelled. its hilarious
bsarki20 2 years ago
Massive government spending is the only thing that got us out of the great depression. We call this WWII. I sure hope we don't need a war in order to authorize such spending this time around.
Railroad1869 2 years ago
You know and I know that the government and Obama and his friends are trying to get money for themselves. They are making it harder to live in America. 6th graders can solve this ressession! I don't know why is it hard to keep things going like it was wa before this ressession. The package is not enough, it will never be enough until an hones person actually steps up and take control.
TheKatherineTimes 2 years ago
maybe he finished his economy university in Zimbawe,the guy is a complete imbecile,isn't it obvious?He can suck our cocks with his 1.3 trillion plan.You stink Krugman!
hotelmoxa 2 years ago
Yeah, he only won the Nobel Prize and teaches at Princeton, but I'm sure he's wrong and you're right.
sucktastic 2 years ago
then you must think that Ben Bernanke is right, too, but he is one of the biggest factors that caused this huge recession.
Invaderalex8 2 years ago
LOL!
That made me giggle in real life. Kudos.
floooble3 2 years ago
Government is the problem.
KendisKustomsDotCom 2 years ago
Amazing this guy has a job. This guy does not understand economics. And Harvard Business School is interviewing him. I just don't understand why thye School does not understand what is happening, they are supposed to study this subject with great vigor and debate.
I think that Harvard is lying, I think they do know this is bad for the USA, and economics. I think they have other motives. I think they are smart enough to know what is really happening and how to solve the problem....
putittogether 2 years ago
Krugman is a moron.
Keynes was wrong dumb azz. You can't spend your way out of a spending crisis.
A 4 year old could tell you that.
mnemeth1 2 years ago
yes, i'm going to take the advice of someone who writes "azz" ahead of a guy who got the Nobel price in economics. After that i'm going to join the Jeb for president campaign. I'm that stupid, I really am.
hiredhelp 2 years ago 3
deflation?
dumbfuck
warpicachu 2 years ago
He is a spotlight-seeking, celebrity wannabe, light-weight that should never have won a Nobel. Serious economic academics are still stunned by his winning of that award. He'll be guest hosting on the View in a couple more years. Maybe filling in for Dr. Phil when he's on vacation.
bosgear 2 years ago
"1.3 trillion" sounds reasonable?
He won a Nobel Prize? How odd
BruceFenton 2 years ago
I know the Obama adminstration does not like the criticisms of Paul Krugman, but they may need to take a second look on what he is saying. Maybe a replacement for Tim Geithner as treasury secretary if his current does not cut the mustard and we are still in the economic crisis by this time next year or 2 years.
tubegeg 2 years ago
This man is a fucking fool!.. let the banks fall... let the Free market be FREE!!!!
peejaa 2 years ago
Hi, my name is Remington Draper and I gave my heart to the Lord Jesus Christ in the summer of 2003 because I realized that I had broken God's Commandments and that He was going to judge me by them of judgment day. The same is true for everyone reading this. The good news is God Loves You! and sent Jesus to pay the price for our sins and if your willing to repent (which means to turn away from your sin) and put your trust in the Lord Jesus only to save you, He will and give you eternal life.
remdrper 2 years ago
from my information Obama wanted to make a bigger stimulus plan but the republicans oposed to it. The republicans want the crisis to get bigger so obama = crisis. Its politics. I suppose the republicans are telling now that the market can alone solve the problem. I really dont thinks so
selvaperux 2 years ago
You dont understand the Free market
peejaa 2 years ago
This has been flagged as spam show
I know what you mean. More people are starting to find out about the World Food Code - Codex Alimentarius.
It appears our government is being manipulated one way or another to serve the goals of the UN, the World Health Organization and the World Trade Organization. Food control equals people control -- and population control. Is this beginning to sound like world government and one-world order? Could this be the real goal behind Codex Alimentarius?
wilsonpwt 2 years ago
I agree that government has to drastically increase spending to compensate for the crippled private sector. That's the only way to turn the economy around. But Krugman's ideas of doubling Obama's stimulus package & nationalizing banks would risk seriously undermining the confidence of foreign investors & U.S. markets. Trust is as important as capital in bringing about a recovery. Therefore, I think Obama's plan is more prudent than Krugman's. (& the GOP is in total denial.)
wordzly 2 years ago
Increase spending with whose money?
There is no money left, we spent it all, and printing more just deflates the dollar even more.
Our financial system is a failed model that doesn't work with such a HUGE populous. Something needs to change drastically, and there will have to be great sacrifice for a while, unfortunately.
headstack 2 years ago 3
The US can take more debt and the US isn't a heavily taxed country.
Bellator656 2 years ago
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Sábado 28 de Marzo del 2009
Desde las 08:30 p.m. hasta las 09:30 p.m.
La Hora de la Tierra es un evento de escala mundial que no está dirigido únicamente a ahorrar electricidad durante una hora determinada sino que además sirve de inspiración a las personas, empresas y gobiernos para reflexionar sobre sus hábitos de consumo de energía. Mas informacion ingtk tk
fredy26lima 2 years ago
He looks like Ben Bernanke's long lost brother.
kkklownknight6699 2 years ago 4
if 800bill plus few trillion here n there in the bank system is not enough. then what is?
zippnpuff 2 years ago
Youtube esta borrando todos los videos de anime poco a poco.Cada noche a las 10:00p.m. ellos tienen un mantenimiento que que borra videos que son de anime...Para hacer que Youtube deje de hacer eso, necesitamos que bastante gente proteste...Para hacer eso, por favor ayuda copiando y pegando este mensaje a todos
getbackers021993 2 years ago
The main reason for this profound Anglo-American economic slump, is that I have been getting sandbagged and albatrossed and badmouthed, respectively, by American bigots, stupid corporations, and incompetent if not downright malevolent government bureaucrats and politicians and minions. It ain't Rocket Science. Thank God I remain smart, work experienced, creative and optimistic in my own make-up. No thanks to "my fellow American" neighbors, bosses, academicians, clerics and institutions.
mdelcamp1 2 years ago
Krugman has a thug's view of the role of government.
Government intervention blows up in our faces and Krugman says more power to government, press the accelerator to the floor!
jwoodswce 2 years ago 2
Mr. Krugman claims the shortfall will be $2.9 T (or bigger). He then complains that the Obama plan isn't big enough, using the half a loaf line. When asked how much stimulus he recommends, he says $1.4 T (isn't that HALF A LOAF?).
If he failed to understand derivatives (shadow banking) and how bad the US financial system would get AND underestimated the impact on the rest of the world's economies, why the hell do we care WHAT NONSENSE he recommends?
Who is buying this stuff?
jokertim777 2 years ago
Systemic credit risk by non-regulated financial entities has never happened in a computerized fiat interconnected system. Thanks reserve ratio!
All economic study is based on observation.
Nobody knows what is going to happen, Nobel Prize or not.
historico69 2 years ago
The CRA is a straw dog. Not sure why it's so hard to accept that simple greed, spurred by the loosening of controls under Reagan, Clinton and Bush, caused this mess. You can blame subprime lending, the repeal of Glass-Steagall, and the decoupling of CEO profits from company performance, but not the Community Reinvestment Act. See conservative Kroszner's rejection of the CRA argument in the Wall Street Journal, 2008/12/03.
catemuse 2 years ago
IT's not GOP arguements. It's simple logic. Sure, in an ideal world his plan would help the economy. But we don't have the capital to put it to use. Unless enslave ourselves more to China or the Fed, or discover the cure for cancer. You guys don't see how America is changing drastically. Government's role is getting ever bigger and widespread. Keep on letting them do what they want and one day you'll wake up in a psuedo-socialist nation.
TsurugiOni 2 years ago
Yah, Stimulus Plan 2.0. Twice as fast to undermine the economy. I understand the cycle of less production -> less employment -> less production. But socializing the United States is a push in the wrong direction. Once we start taking these steps, we're undermining the original purpose of making America. How are you gonna pay all the employees to nationalize these banks? How you gonna pay for infrastructure? The U.S. will never be the same if we keep on doin what we're doin.
TsurugiOni 2 years ago
How many Nobel Prizes have you won Delano?
STpacific 2 years ago
I just wiped myself on a nobel POS price this morning!
RandomDarkness 2 years ago
Nobel Price? I commented before you could S(tinky)T(urd) pathetic.
And in the era of "Just a Careless Mistake," come on now that I've made a mistake, I can get a job running the IRS or something. Right?
Bah ha ha ha LOSERS!
RandomDarkness 2 years ago
The Nobel Prize in Economics is a joke. It's a prize in honor of Mr. Nobel set up by the Swedish Bank. Though it still has a deliberation process similar, isn't there a conflict of interest regarding what and who these awarded achievements benefit?
DelanoGoesToDenmark 2 years ago
"The first blow shook the world...
Are you ready for the second?"
Coming this summer
Economic Meltdown Part 2
In a theater near you!
Critics say its epic, in line with such great thrillers as
"The Depression"
Its an edge of your seat thriller with hints at possible Anarchy... Stay tuned for a sneak peak!
Noblermith 2 years ago
Do it big and do it now! But er, who is gonna pay the piper after all that's been said and done?
avo7007 2 years ago
We will get 10% unemployment permanently and a destroyed currency. Thanks Paul.
koolbrease 2 years ago
all the problems we have in this country...i think we need to either ride them out or adapt to them accordingly: it would save alot of time and rage if we just adapted rather than try to erase the problem itself...people have a point on here...we will be damned before we become a socialist country
DemonHeart03 2 years ago
wow...my opinion on all of this is that we live in a democracy so people need to make independent decisions and right choices...the government should not have to clean up after the people's mess that is not their job, and the people should not have the job of cleaning up the governments messes either...i think this whole market crisis partially has its blame on the people on making poor decision when it came to their money, but of course the banks were to blame to...i find it impossible to fix
DemonHeart03 2 years ago
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Paul Krugman is the only economist I trust.
saper321 2 years ago
I think Paul Krugman applied for a position in this Admin. and was not picked. He really has changed his tune to a point of sounding weirdly strange in his criticism... hmmmmm!
Cheetah583 2 years ago
This guy is a joke? Massive health care? Massive infrastructure, no spending cuts, but 1.5trillion plus in new spending? Federalization of private business? He wants America to be a socialist country. How the hell do we get the money to do this? This guy makes no sense, government has no wealth, they just redistribute. It's not the gvt.'s job to protect people from dumb decisions, let the market correct. How did this joker receive a nobel prize?
TsurugiOni 2 years ago
Still spewing GOP propaganda talking points?
Cheetah583 2 years ago
hes not the typical american neoliberal-loon i grant u that :)
this is the new deal 2.0
Paul! :)
hansson2000 2 years ago
We'll, he wants us to be like Europe - as if that's panacea. Which is why there are so many relatively conservative governments there, people like Krugman really messed things up. Reality is that countries that receive large amounts of immigrants won't give all these social nets.
Gyrode 2 years ago
can someone help me out I can not get the videos to play why
GROCCO11 2 years ago
substitute stimulus for heroin
that is what the austrian school thinks of this plan
icege3 2 years ago
Comment removed
dswolterman 2 years ago
都不知道说什么，怎么没有字幕啊！
sumerswind 2 years ago 2
Comment removed
SomeSlackerKnowsIt 2 years ago
I have respect for Krugman as an economist, but man, Keynesians have been bitching ever since 1981 - until now, since Obama has an ear out for those economists - with all the amnesia of the 70's, but oh well!
Gyrode 2 years ago
oh god, another internet genius with a classy one liner
e30m3izzle 2 years ago
Am I wrong?
Gyrode 2 years ago
"federalize the whole fiscal system"
he is insane.
Blanz520 2 years ago
I concur... I would love to see Krugman sit in a room with an Austrian economist. he would get embarrassed.
rgopdotorg 2 years ago
Krugman eats Hayek wannabes for breakfast. ;)
MarquisdeBarrabas 2 years ago
In the the movie about this crisis, Paul Krugman will be played by George Clooney.
youtert 2 years ago 3
he does kind of look like a cross between george clooney and some sort of wood elf
icerobocop 2 years ago 5
hilariously true
bruiser07 2 years ago
watch gong yoo the goldfish swim through hoops! watch?v=aWR2RgLX61o
flybybutterflies 2 years ago
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Im sure he wil be labeled a racist by the left.
Afterall, anyone who disagrees with Obama eventually is.
MeLikeGoFast 2 years ago
The vast majority of people have no idea what is coming to America.
Though other countries will get their feet wet with this America is the epicenter .
8 million or so Americans starved to death during the last Depression . this time around it is much worse. Those who did not prepare
will regret not listening.
dave777blaster 2 years ago 2
Flaming Collectivist.
farsah14 2 years ago
omg, he should give his Nobel Prize back!
Kloppy86 2 years ago
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This guy is real scum.
As liberal as Obama is a muslim marxist & illegal immigrant
jefeisdguard 2 years ago
Wow, before this i was about to move to America and live there. But now i'm not doing it. I'm staying in Sweden. Puh, im glad i saw this.
Paxadzor 2 years ago
Here's an idea: Why haven't we outlaw the Community Reinvestment Act which contributed to the overly heating the housing market with buyers who could afford the houses they bought. Ounce the housing market started to decline refinancing became impossible without any equity built up. Thank you Jimmy Carter, Bill Clinton, Barney Frank and Maxine Waters.
vbmbs 2 years ago
Dems sure like to spend money and take on social issues!
peanutplays 2 years ago
vbmbs, this argument conservatives use about the Community ReInvestment Act is overblown. Most of the big subprime lenders wasn't even under the CRA and most of the banks under CRA was way more invested in subprime than required under the CRA. All these companies got into subprime because it was a ton of money to be made with them. They basically turn the mortgage business into the credit card business. CRA played a role but it wasn't the main cause of the crash.
Debonair73 2 years ago 2
About mortgage refi:.
Home occupied mortgages can benefit from refinancing. Even people who cant pay the mortgage.
There are people who are working hard to make monthly mortgage payments on a house they rent out.
Why aren't they allowed the same opportunity to refinance as dead beat primary home owners?
Something is wrong here, needs immediate fixing. Interest rates will not stay low forever.
smilingseal 2 years ago
This comment has received too many negative votes show
This guy Krugman is a doctrinaire socialist and the fact that he is given ANY credence is a real shame.
Nativist817 2 years ago
Actually he's a Keynesian Economist - not that you'd know that means, anyway.
verumdicere 2 years ago 3
Well Verdumdicere, I see you fall back on the old STATIST canard of insults and yes I do know what Keynesian economics is--it supports HEAVY government spending to support the economy which never has and never will work!!!
Nativist817 2 years ago
"supports HEAVY government spending to support the economy which never has and never will work!"
If more proof was needed that paultards don't know their History...
MarquisdeBarrabas 2 years ago
Off balance sheet derivatives over 200 trillion at J P Morgan
dave777blaster 2 years ago
you can tell this man knows what the main problem is but doesnt want say it and fuck greenspan
tmprogram 2 years ago
Screw this guy and his Kensien economics. News flash people that's what got us into this mess in the first place. You can't steal profits from one group who are being productive to make "jobs" for another group and say "look we created a boost to the economy." The piggy-back tower is ultimately destined to fall no matter how you try to restructure it. We must learn from history to improve. Not try to create new depths of disaster, but that's what the global elite money masters want.
roninkross 2 years ago
Reaganomics is dead.
MarquisdeBarrabas 2 years ago
Internet comment player = keyboard expert. , Big man on keyboard.
greatestiron 2 years ago
Most people think the size of the stimulus package is too big already. Since you disagree, remember President Obama has said he has an open door to anyone with a reasonable solution to our economic problems. Perhaps you should explore that avenue. Then if your ideas have any merit, they will be considered. I'm sure it would better serve the country to use that route rather then a post on Youtube.
mrbr549 2 years ago
its hilarious how 'randomyoutubeuser' thinks they know more about economy than a nobel prize of economy winner.
lulz
defaultuser88 2 years ago 3
defaultuser,
Though I agree with Krugman, and I know there's a lot of punks on youtube who think they have degrees in these fields, being a Nobel laureate shouldn't, and doesn't, grant the person a tag that says "I am amazing/one of the best in this field". One need only look to 1973 and 1979, when both Kissinger and M. Theresa won the Nobel "Peace" Prize, respectively.
MononofuBlood 2 years ago 2
MononofuBlood: I see what you're saying, but the Nobel in Peace is not the same thing as the Nobel in Economics - the latter being determined by breakthroughs in the field. Peace is far more subjective and intangible. Regardless, I suspect that about 99.9% of Youtube users know jackshit compared to Krugman about Macroeconomics. We live in a society in which everyone thinks they're an expert on something because they took an intro course on the subject at their local community college.
verumdicere 2 years ago 4
verymdicere,
"...I suspect that about 99.9% of Youtube users know jackshit compared to Krugman..."
And, alas, this group seems to be the most vocal.
MononofuBlood 2 years ago 9
well a nobel prize might not give you a god-mode status in educated discussion among scholars in the field but it is on youtube
defaultuser88 2 years ago 2
Paul Krugman is a genious I study him on my books about international economics....however about the stimulous package my question is: Where all the money will come from? Humm print press....
55310442 2 years ago 2
Wow, so many mistakes by Krugman in his points. First the USA can't spend without any restraint without destroying the dollar, which means game over for all the economy. ONCE and FOR ALL, USA is NOT Japan. Japan entered the crisis with a huge trade (current account) surplus, budget surplus and the huge glut of savings of the Japanese people. Whereas USA is broke. Krugman should go back to school and relearn how to make comparisons, a course in mathematical statistics would be appreciated.
StrandedTO 2 years ago
No offense, but he probably is pretty good at math. If you can tell him what the rao-blackwell theorem is and how it relates to maximum likelihood estimators, and how to use these things better than he can explain them to you, then you may have a point.
sakurasanmon 2 years ago
Well there are places that will be better off
than America which is the epicenter and originator
of the problems,through fraudulent banking practices .
dave777blaster 2 years ago
Just J P Morgan alone has 200 trillion dollars of debt .
A 1.8 Quadrillion derivatives death star orbits America.
No amount of bailouts can save it.
It's going to take a new deal Internationally
a new currency along the lines of what China has suggested would help solve the bank problems.
As far as American banks go, bulldoze everything that is under water before they consume every American.If they do not do this
Americans will be wise to move out or prepare for a long hard Depression.
dave777blaster 2 years ago
"Move out"
Ha! "Yr cute."
See Grandmaster Flash. See NOLA. Only exponentialize it it up through most of the so-called/former middle class when you're talking about between countries and a worldwide Depression, no?
*Move out/" Funny...
gloryoski 2 years ago
I don't know if this is a joke or something but JP has no where near 200 trillion in debt, that's ridiculous. You can get there balance sheet on the internet easily by googling it. There total liabilities are only a little over 2 trillion in Dec. 2008.
AHBritton 2 years ago
move out where? if we fail so does everyone else. the world economy is all connected now. when something happens in Japan we feel it here right away, and if we fail we bring the whole world down with us.
patitofeo76 2 years ago
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Now seen as many Satanists are already dead.
The more intelligent they fled.
Others have left their tombstone youtube and can no longer delete my prayers.
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Please spread this message
humanumgenus 2 years ago
The wonders you can do by having unbearable debt levels and budget deficit. Why havent we thought of that until now wait a sec we did that for the last decade to fuel the economy and we got to this bubble. Why doesnt he propose a solution that doesnt uses unlimited money from heaven with no regard to the actual effects of such a liability level and actually works with what USA has available, because you just cant pay back that level of debt without huge tax increases.
peerLAN 2 years ago 2
in a way i kinda want to see the whole thing crumble, i guess cuz i just hate this isolated consumer indoctrinated society.I would rather feel like im in the midst of a revolution than in a world that just wants me to shop and die.
mitchrix31 2 years ago
A black decade
BeantownJim 2 years ago
racism is destructive in general
NiceTubeAccount 2 years ago 2
Thanks - always good to hear Krugman's view of the world.
scasey1960 2 years ago
filling buckets of water into a bag with holes... slave system... life on credit and on leashes in many ways... maybe Obama will change this whole system a little...
NiceTubeAccount 2 years ago
thought I don't necessarily with him with his views, especially towards welfare state, he always provides an interesting insight.
3cityjay 2 years ago
This is just Great!
Siavashdaman 2 years ago