Paul Krugman speaks in Washington, DC

[jdm43]

Krugman is a schill for the banks. Supports the exact policies that raise prices for the poor, raise healthcare costs, destroy the middle class through inflation in food and fuel costs... and then claims the moral highground.

What a joke.

[ridewave444]

Moronic "sigma" below me is a dumbfuck. Maybe a dumbfuck and a loser troll. Durhh He can't separate the way his "eyes" look with what he says and the content of what he says. Learn something about economics and life you little failure. Another idiot idealogue.

[jessemaurais]

@ridewave444 You're right, he's a tool. I bet he has sex fantasies about Ayn Rand.

[666sigma]

I always knew Krugman was an idiot, but now that I see him talk, I know why. Look at his eyes. He is in la la land. His eyes are looking backwards.

How the fuck did this bozo get a Nobel Prize? I guess the same way Obama got a Nobel Peace Prize.

I don't think he has a clue as to how the real economy works. He is a snake oil salesman.

[tonytocanova]

@666sigma Except that he is one of the smartest people in the world and you are an idiot...

[redarrowhead2]

krugman shouldn't have become so involved in politics. His opinions would matter more if he didn't. Once an economist takes a political stance, his credibility goes down.

[cooperbry]

What a dumb ass. Income is not something that is to be "distributed", it is to be "earned". Period.

[MaudsPas]

@cooperbry Earned as in earned through illegal campaign contributions for politicians who deregulate wall street, lower taxes for the richest americans, destruction of unions?

People can't earn the american dream anymore no matter how hard they work. None of us will ever be millionaires. The numbers clearly show this has been the case for the past 30 years and considering no major changes to our tax code have been made the trend of us rats spinning in our cages to eek our a living will continue.

[AlexanderLee1]

He's a very nervous man.

[truevoice08]

Democracy: The God That Failed

[truevoice08]

1 second ago

Krugman is an ass. I used to think he was an intellectual but realized he's just a whore for the leftist political establishment.

[Goohuman]

Krugman sees the wealth flowing to the top then goes on to support the political policies that enable that flow. He is a true intelectual. He can see all the pieces to the puzzle and figure out a way to put them all together backwards.

[tonybonez]

I think that Paul Krugman would in theory support a government takeover over meteorite insurance, bee sting insurance, snakebite insurance, stepping in poo insurance (which would damage the resale value of your shoes)...

and Kudos---the free market is a waste---government idiots understand what I need better than I do---afterall I am an adult---but not really, Washington knows what I need!!!!!

Kudos bro!!!!!!!!!!!

[marsCubed]

@tonybonez In the UK where we have socialized healthcare, your argument is the wrong way around.

When I need healthcare, I get it, no ifs, no buts, no meetings with lawyers or insurance companies, no astronomical bills. no worry or stress about whether I am eligible, If I want private healthcare I can get it too..ie for cosmetic stuff.

The USA system is corps in your wallet, looking up your personal history & trying to dump you for bonuses to buy themselves a yacht in Dubai.. Kiudos to you too.

[tonybonez]

@marsCubed

well you and Noam Chomsky both make a great case for socialism,

there is 1 problem with your argument....

EVERY CASE IN HISTORY!!!!

[marsCubed]

@tonybonez Denmark and Norway have the highest Tax on the top 5% in the world.

As a result they have become the Wealthiest and more Equal populations on Earth.

Superb healthcare, education, best standard of living on the planet. Highly skilled, innovative high-tech economies, next to no crime. not in debt to a few obscenely rich thieves.

If you look around you will notice it is the free-market economies which are fail.. Greece 30% of GDP undeclared! USA 1% now own 43%.

trickle down is a scam.

[DoubleSmoothie]

@marsCubed Is Danmark and Norway wealthy BECAUSE OF big government or IN SPITE OF big government? I would suggest the latter.

[dbill27]

@marsCubed Denmark and Norway have an amazing supply of natural resources that bring them extreme wealth. If trickle down is a scam than why has capilism increased life expectancy and living standards for every country ever that has given it even a half chance. Free-market economies fail? You are foolish, but even if they did i would rather be poor and free than a slave.

[marsCubed]

@dbill27 USA has oil, UK has oil too. In Norway oil is socialized. that means money went to the population. It is one of the reasons it is the most equal and wealthy population of Earth now.

In free market nut cases.. productivity has sky rocketed.. yet wages have stagnated or fallen. Nobody can afford to buy, gross inequality has trashed it's own markets. The other person who agrees with you in this thread supports Lehman bros. in his vids.

myopic profiteering & trickledown trashed the economy.

[dbill27]

@marsCubed Not just oil, Norway has an incredible amount of natural resources and a small population. If we gave the state of oklahoma tons of oil,natural gas, minerals, hydroelectric power, the worlds 2nd biggest seafood exporting power etc then the citizens of oklahoma would be much richer than say iowa almost regardless of govt power. My point is, this is not a champion point of socialism

[marsCubed]

@dbill27

LOL. Yes it is, it has the highest tax on the top 2% in the world, the most equal population, and the wealthiest.

The state run oil company has an environmental record without rival. They are even planning to bury their CO2 in the old wells. Socialized education & healthcare.. highly skilled economy. very democratic and informed population.

The opposite direction to the free-market, financial scams of USA, Greece etc.

You just rant corp & bank propaganda. It's a bag o' shite.

[dbill27]

@marsCubed The most equal population? Bank propaganda? America has socialized banks already, how has that worked out(see housing bubble). Australia is one of the only countries in the world to weather the recession and they have on of the most free markets in the world if not the most free. Why would i want to live where the harder you work the more you get stolen from you? and why on earth would you bury co2

[marsCubed]

@dbill27 USA has private banks last time anyone checked.

Ie. Closed doors, unaccountable, unelected.

Pro Inequality, anti union, against-democracy, against right to know, anti civil-rights.

What is a conditioned boss stooge if not that?

Free-market style, deregulated economies failed.

Forced into low-wage, low skill rat race. conservatives ranted trickledown.

Inequality soared.

USA, 1% have 42+% of financial wealth.

80% have less than 7% now

It wrecks it's own markets. nobody can afford to buy.

[dbill27]

@marsCubed Private banks? No, you are certainly mistaken, perhaps you should do some research on the federal reserve. Every bank is FDIC insured. The Usa does not have anything close to resembling a free market capitilist system, it is riddled with taxes,tariffs,protectionism,su­bsidies,bailouts,boundaries for insurance companies. Yet when this chained system limps fools say it must not be chained enough. Capitislism is peaceful exchange. Socialism is a loaded gun

[marsCubed]

@dbill27 You are the one using the loaded terms, I'm just calling you stupid.

Reagan made D. Regan, CEO Merrill Lynch chair of deregulation.

Simple fact is others invested in skills, taxed for more equality, low crime, public healthcare.

Cost less too. fewer problems.

Left & the unions are correct.

People helping pick each other up works at all scales.

Markets are places, in the past a village or town.

People have a right to tax & decide standards for merchants, not the other way around.

[dbill27]

@marsCubed Unions are the single most destructive thing in America. "Markets are places, in the past a village or town"? "Cost less too. fewer problems" Most of what your saying isnt coherant to any point, i dont even know what your arguing, i dont think you do either, you must be a union boy.

[marsCubed]

@dbill27 USA has comparatively low rates of union membership.

To push through deregulated finance, Unions & left ideas were(are) publicly humiliated beginning with Reagan & Thatcher.

DIY, selling on one's home, becoming share holders, buying stock in local banks, borrowing (free money trickles-back because deregulated markets are magic.)

. unions were made to seem dumb & boring for wanting investment in skills & jobs. all ppl needed were business skills & shares.

Then the bubble went pop.

[dbill27]

@marsCubed The post office lost 13 billion dollars and they charge money for services. I dont know about dumb and boring but unions certainly kill business. Comparatively low rates compared to who and why does that matter? unsustainable is unsustainable. Unions run the dnc, they killed the auto business just like the post office and every other govt job and just like the gov't jobs now the govt has to bail out the private business the unions killed. Where does the union due money go?lobbyists

[marsCubed]

@dbill27

The more socialised economies of N. Europe have gone furthest towards green-energy & high tech. new good jobs.

It's Private corps that damage us all with outdated & myopic practices; ie, oil & worst employers.

While taking bigger portion of wealth created by regular people.

It's what inequality amounts to.. lack of investment, poorer populations forced into debt just to function economically.

Workers live in places & try to improve prospects. corps just take & go.

.. drained economies.

[dbill27]

@marsCubed You are a marxist

[marsCubed]

@dbill27 Not many would call economies like Denmark & Norway Marxist exactly. Your assertion however exemplifies a problem.

More balanced economies got there without glorious dogmas. Just plain old tax & sensible investments. It is a regulated mix.

Something conservatives utterly reject due to nationalistic, alienated cold war rhetoric(.. it has become a fucking tradition) & property elite spivs robbing you blind.. it borders on insanity.

Get a sensible open balance & more fairness. grow up USA.

[dbill27]

@marsCubed it is your use of the word balance and fairness that i object to. I think you should check the premise of your use of both those words. Stealing from one to give to the other is not fair or balanced in any way no matter what moral you claim. I dont think denmark or norway or marxist i said you were because of your preaching about economic inequality and your belief that capitilism is somehow anti-working man instead of corporatism, there is a difference

[freedomthrough]

@dbill27 Yet, the more you unleash capitalism, the worse your population will do. Income inequality isn't natural and corrodes social life. Economic life isn't everything and neoliberals like you need to understand that. Research for the past 30-40 years show this. More equal countries do better at pretty much everything :P.

[biggerturtle]

@freedomthrough Kill the socialist scum like krugcunt , a reservist moronic troglodyte

[freedomthrough]

@biggerturtle Troll? Or just a total dumbfuck, in the face of reality?

[biggerturtle]

@freedomthrough Krugman's keynsian nonsense has not and does not work. The real world is that the U.S. credit rating is about to be downgraded because of the economic idiocy of the administration and morons like Krugman who live in fantasylands Obama and his cronies want to destroy America; it is clear.

[freedomthrough]

@biggerturtle I'm sorry to say it, but Keynesianism worked perfectly from the 40's through the 70's and it's on it's way again :). Now, Krugman isn't perfect, his solutions are sometimes not the ones i'd like to see, but he certainly isn't dumb either. Credit rating for nations is bullshit. The US controls it's own currency and thus has no problem paying back it's debts. It could do it all at the snap of Obama's fingers, if that was the best way to go. It isn't though, but that's another matter.

[biggerturtle]

@freedomthrough ARE YOU KIDDING YOU MUST BE ON DRUGS Obama has NO idea about economics and we CAN"T pay back our debt.Credit rating doesn't matter? Are you an idiot?The only thing Obama will get by snapping his fingers is Trumka to suck his dick. Furthermore I lived through most of the period you reference and your history is, at best , revisionist YOU ARE PLAIN OLD SIMPLISTICALLY WRONG - GROW UP AND READ A BOOK

[freedomthrough]

@biggerturtle Don't get all emotional on me now, there's no need for caps :). No, you truly need to study the workings and duty of a government and central bank. The dollar floats and isn't bound to gold since 1971, so there is no problem, really. Paying back all that debt at once isn't desirable because it would cause a bit too fast inflation. Credit Rating is, in this case, an ideological tool. It doesn't matter in a sovereign nation. A sovereign nation can only voluntarily default.

[freedomthrough]

@biggerturtle That is, defaulting on public debt would be a political choice, if it ever happened. There is nothing to fear. That said, i agree Obama has no idea about macroeconomics. Him along with some 99% of your politicians, neocons and progressives alike. In this case, i'm afraid it's you who are wrong, friend. You really should read some books yourself and preferably some in macroeconomics, along with all the econometric data you can find from these periods.

[marsCubed]

@dbill27 Add to that, problems it stacks up.

Low skill, barely employable fail.

Northern Europe (and Japan) have the best funded welfare systems. next to no crime. long vacations.

Robot engineers and designers, informed citizens, democracy and inclusion, collaboration. People friendly, inclusive, they fit with our nature. best standards of living. Most ppl want their kids to get a good education and good work. So they fund it with tax.

Capitalist rat-race fraud = conservatism.

[bornbillsmith]

The top people go to college.

They would be the top even if they didn't go to college

The bottom will still. be the bottom even if you sent them to the best college.

You can take a horse to water but you can't make it drink.

Smart people can take advantage of a college education.

The dumb just take up space.

[StuffedAnimalAdvisor]

Well the man may make have made a point.

Medical is expensive; you have to becarful.

Certain behaviors are more "high risk" you have to control yourself.

Old question that applies

Is a few minutes of happyness worth the risk.

[commy9191]

paul krugmans a douche bag that needs to get punched in the mouth.

[tonymartin]

Why?

[getupjumpy]

Yeah, why is he a douche bag? Please don't say you believe all that bullshit from the great economist and nobel prize winning social pundit Bill O'Reilly?

[yanikv]

wtf?

[thesparitan]

why

[sean21122112]

There is a reason no one sees this kind of stuff and even people who do put him down, people think they know everything and anytime that's challenged they get very defensive, don't be offended, just take it upon yourself to learn more! Don't accept anything at face value, do research and be sure of your accusations. Source everything.

[chunstiger]

It's interesting that in 2006 he has no idea the US economy is going to collapse in 2008. He doesn't understand at all. Very interesting...

[semigotbanned]

he predicted the collapse of the housing bubble and investment banks in 2005... if you ask me, this is a lot of time! people resisted the idea even in 2007 that there are problems..

[PeterSchiff2012]

ok, plz provide video/text of these predictions of his. I want to read them. TIA

[semigotbanned]

google is your friend

[PeterSchiff2012]

I've searched Google and I can't find any specific evidence of Krugman predicting anything. Thx anyway.

[semigotbanned]

"I've searched Google"

now maybe try searching BY google (check out nytimes articles from 2005)

[hiredgoons10]

The book that he published IN 1999!!! Dumbass. There is your proof so maybe ur boner for schiff will shrink now

[semigotbanned]

schiff? what? are you a fucking idiot?

[hiredgoons10]

what r u talkin about here

[semigotbanned]

you replied to me, dumb shit

[mrmagooski]

Please refer to the discussion entitled 'Whither the Economy?" between Paul Krugman and Tom Herman on 92 St. Y (available on iTunes U). The discussion took place in 2005. Krugman DID predict the crisis.

[michael2B]

No UNIONS NO Middle Class

[followthefleet]

What's telling for me is that this voice was not part of the thinking of the Bush people. Krugman's ideas were not on their radar...AT ALL. This video is about the weakening of the American middle class...that same middle class that imbibed the rhetoric of the "free-market" ideologues, and voted for Bush. Now it's time to pay the piper!

[benitoisamu]

this man was right all the time. He predicted the burst and the meltdow of the summer.

[DoctorJohnJGibbons]

So did Peter Schiff, Marc Faber, Jim Rogers, David Tice.

Doesn't change that the cure is worse than the disease.

[garyowen4ever]

this guy is no populist or champion of the middle class, he loves low low fed rates, which means high high inflation and subsequent food and energy prices. he is a tool and a sttoge for the wealth class.

[mreisma]

this guy reminds of ben bernanke, a big fat rat.

[DoctorJohnJGibbons]

Keynesian bullshitter, more like it.

[clat1]

there was very little mobility during the 1950s when our country become the dominant economic power

[side1981]

that's completely untrue.

[isgoodno]

Why is an economist sticking his big beak nose into social policies.

Typical jew, trying to tell us all how to think and what's important in america.

What's important to us and what's important to communist jews are usually not the same thing.

[gorgorybmus]

Economics encompasses and involves a lot of different aspects of society.

[amisthorn]

Have you looked closely at Krugman's nose? It's not at all beakish.

[Evangelander]

In regards to Americans losing their homes and the banking interests of corporatism I would like to say this:

It would be better to help the individual to work through a situation (becoming unemployed, for instance) and help them to keep their home. That way the banks would not suffer loses from people going into deault.

But, we have this problem of greed that often overrules. The banker, who actually owns the property, anyway, makes more money if they allow it to default. Greed often wins

[Tubeview75]

This is Adam Smith vs. John Nash. One theory is a "survival of the fittest" economy. The other is "trying to do well for yourself,but at the same time realizing the well being of others around you affects your well being as well".

I feel Nash was right. That we all play a part in this economy, and we all deserve a piece of it's rewards. Not the top 1% percent controlling 80% of the world's wealth.

[andersoncouncil65]

I second that. There needs to be more participation involved in the economy for it to be truly democratic. Wealth is a good determinant for who deserves the most chi-pets but not for who deserves the highest quality healthcare.

[Visfen]

@andersoncouncil65 The economy is not supposed to be democratic, democracy is a terrible system to organize allocation of resources. Read "the myth of the rational voter" or anything on institutions and economics.

[freedomthrough]

@andersoncouncil65 Economies can never be democratic, you're entitled to buy or not to and that's your only vote. What you can do, though, is to implement a larger public sector and get rid of your military spending.

[amisthorn]

morality originally reflected esthetics. maybe why Nash's mind was 'beautiful".

[CenterLeftLiberal]

His statment that educational attainment has played only a minor role regarding increased inequality echos my own research findings. The earnings even of those with a Master's and Doctorate have fallen far behind the top 1%. I think the most recent figures show a 176% increase in mean $ for top 1% vs. 69% for the top 20% overall.

[lovedatcrick]

yes yes jolly good cherrio good saa

[skearny1]

I realize that Krugman is one of the leaders in academia on the study of market failures, but I still must disagree with his premise that decreasing employment mobility might increase society's welfare. I think there's clear evidence to the contrary.

[rebeccapea]

What clear evidence might that be?

[skearny1]

Countries with rigid labor markets do not adjust as robustly or quickly to the continuously evolving labor markets of an open, globalized economy. Enterprises are hesitant to increase output due to fear of being left with debilitating labor costs in the event of an economic slowdown, and so they don't hire because they can't fire if needed. Workers are more prone to cling to their current jobs, rather than exploring elsewhere, leading to a stagnant environment. High mobility=Low unemployment!

[elmazote]

in theory yes. in practice, however

high mobility = high underemployment

employers shrewdly take advantage of the situation: jobs often become temporary or part-time, with significantly less benefits.

while i'm not attempting to fully refute your observation, it surely is not so convenient.

best regards!

[ayri0]

I don't know who this "Paul" guy is, but he seems to raise important issues in a reasonable manner. I've only had a couple of econ classes, but still I do understand what he's talking about, and I think he's worth listening to. The point about the discrepancy between individual risk and aggregate social risk ... don't you feel it in your financial wellbeing, and don't you think this individual anxiety had an economic effect ... in addition to the degradation of our standard of living?

[DoroteoAranjuez]

Whenever the issue of income inequality pops, Greenspan alludes to the increase in wage differences between skilled and unskilled workers. Hogwash. Krugman is right. The inequality that is hurting the country is between the 0.01 per cent of Americans and the rest. Obscene! Despite Faux News, inequality is not due to merit or skill, but (at best) to luck and (at worst) to corruption, abuse of stockholders, investors, workers, customers, taxpayers, people abroad, the public in general.

[clat1]

Krugman supported the policies that caused the income inequities

[CenterLeftLiberal]

Exactely - you got it. It really is only the top 1%, whose share of aggregate income has increased from 7.5% to 14%! As you said, blaming educational attainment is "Hogwash."

[clat1]

Free trade caused the fall of the middle class and lower middle class and Krugman was a free trader. As a union steelworker no one in my union will ever vote democrat even after katrina and the clusterfuck in Iraq.

[jeanthree]

well democrats are dumb. nice to know someone agrees.

[baronmorris]

Paul Krugman, you are quickly becoming one of my heroes. Thank you for raising your voice with such empathy and cogency.

[jeanthree]

you must be stupid to. paul is liberal jerk

[baronmorris]

stupid, too. ;-) and, not, but thanks for your concern. Obviously you are similarly concerned for things like equal rights, human rights, the environment, civil liberties, world peace, animal rights, indiginous people's property and resource rights, and the list goes on and on. You must be a truly enlightened person. Thanks for sharing your wisdom with us. ;-)

Peace! - baron

[jeanthree]

Mr. Krugman likes the sound of his own voice. Well he is the only one. Just Like Bill Oreilly would say stay off the Kool aid and he is leftest goof ball loon.

Mr. Krugman if you read this find some duck tape and use it.

[clat1]

duct tape

[dankef15]

I don't agree with government involvement as a solution to individual's problems, but the guy definitely needs to be heard and engage in rational debate. Why he agreed to be on the same program with the crazed Bill O'Reilly one will never know. Intellect vs. Bully, what a joke our media is.

[crzygrl4u]

xD i'm doing a paper on him

[jeanthree]

I feel sorry for you doing a paper on a true goof ball loon. He talks out his but and he has no brains

[onnotice]

Jeanthree, you don't know what the fuck you're talking about.

[jeanthree]

You are a fucking retart listening to this fucking loon. My husband is on fourth tour to Iraq. Krugman is a left wing nut job ass whole

[tyranny23]

hahahaha! ass 'whole'! YOU ARE AN IDIOT jeanthree! you should learn to keep your toothless undereducated mouth shut. It is ignorant undereducated 'family values' republicans like yourself that make this country look like a bunch of 'ass wholes'. And before you get your small mind in an uproar, I am a republican (not a neo-con nut job, there is a HUGE difference). Enlighten yourself on just the most root basics before you speak... or just be quiet.

[jeanthree]

hey fuck face i am 42 years old and i have all my teeth they are in excellent shape. i know about family values. i liberal asswholes. so i know you are brainless. hey your brain is your shoe size and if your a man well you have no balls

[tyranny23]

jeanthree,

It is spelled "asshole".

whole. the whole assemblage of parts or elements belonging to a thing; the entire quantity, account, extent, or number: He accepted some of the parts but rejected the whole.

hole. an opening through something; gap; aperture: a hole in the roof; a hole in my sock.

For your information, I am a republican not a democrat (I know you say "liberal", again showing your ignorance).

Now go brush your tooth.

[pillsburydolly]

You are anti american and Bill Oreilly would put you as a pin head

[Slimdawgc]

Yes, and ad hominems are a very effective way to argue. Bill O'Reilly is a Buckley-wannabe. The only difference is, Buckley was actually intelligent, and Buckley respected his guests.

[jeanthree]

I feel sorry for you

[onnotice]

Yeah, because I'm a "retart".

[jeanthree]

Yeah you are. I was in the First War, and my husband also was in the first one in 1990-91. Since 2003 he has been over there three times back to back so he has been to Iraq 4times. Paul is an asswhole in the same line as Jane Fonda. He talks out his ass like Jim Carey

[onnotice]

I'm sure being in the military makes you an expert on economics. You can't even spell "retard" you fucking idiot!

[jeanthree]

Hey retart you must have your ass stuck in your own end. once a dumb mother fucker always will be. paul talks out his ass you must love smelling his shit.

[Mayberrygonewild]

You have to love Bush supporters.... quite the intellectuals.

[SkipW]

Mr. Krugman is serious brain food indeed, finally got a chance to hear him yesterday in person for a whole hour and he kept 2000 people silent during a talk at the Conference on World Affairs at CU Boulder got it posted in my videos its in 4 parts total running 1hr5min. if interested, it is lighter on economic meat but heavy on political potatoes so its kind of unique. Thanks for postin this one politicstv

[jeanthree]

Sounds like a Wendy;s Commercial; Where's the BEEF!

[economistBR]

Krugman is a genious, I wish I had 10% of his economic knowledge.

I can listen him speak for hours. He is so logical.

[stranger45]

I wholeheartedly agree.

[economistBR]

Actually I think,

Who the hell I am to comment his lecture?

Either I say: "I agree" based on nothing

or I say: "I disagree" based on nothing

[stranger45]

It astounds me how there are endless comments on the stupidest videos but none for anything relevent, pertinent or intellegent. This man is outlining the major pressures of our political economy and no one cares.

[Canada80]

It's quite allright stranger45. Most of the great economists are recognized with Nobel prizes many years after they have completed their major studies.

I'd love to see someone in the whitehouse appointing this guy as economic adviser.

[youngseandunn]

here, here

[evoneal]

yea hes actually taking the majority of people into account when the thinks about economics

[clodionn]

You are absolutely right. Videos of Krugman or Stiglitz are not commented but hey... that's preaching to the converted... and are there many converted out there ? Most of the Internet users watch silly things all the time. I do sometimes, to have fun but the point is, how can you make someone watch (or worse... read !)things that matter ? I mean Chomsky and Krugman as well as Richard Feynman or Dostoievski...

[clodionn]

Dostoievski.... I got excited, I'm sorry, encouraging to read something else than Danielle Steel is harder than encouraging someone to listen to Krugman or Chomsky...