Krugman calls for space aliens to fix U.S. economy.

[SLINGSHOTandMOLOTOWS]

Listen yall stupid sheeple, he talking about project bluebeam and they are getting ready to launch it

[ericson4life3]

Krugman cannot into Opportunity Cost.

[booyakasha11]

Broken Window Fallacy

[d0gM3at]

What is worse then his mention of space aliens to fix our economy is that he associates government spending during WW2 as being the reason why we pulled out of our economic slump when the truth is the economy only turned around in the US WW2 after government stepped back from the reigns. Prior to the end of WW2 shortages and rationing were seen everywhere in the economy that was not directed toward the war effort.

[TheTruthNothinMore]

Bastiat would disagree with this form of crisis capitalism.

[argenta86]

classic Broken Window Fallacy. Bastiat is shaking in his grave . Mr. Krugman please DIE.

[KnownAsScornic]

"If we increase inflation and increase government spending it will fix all of our problems!"

What the fuck.

[Zimnyification]

@KnownAsScornic Well said brother.

[shaq26]

mises. org - nuff said

[Kosimba1]

Aliens is a joke. Of course he has heard of the broken windows 'fallacy' .The broken windows 'fallacy' may well not a fallacy at all - if it brings forward/redistributes spending that would otherwise of been saved etc. all that stuff Keynes came up with. Anyway you may disagree with this but it is either disengenous or stupid to pretend that there isn't a serious argument.

[Zimnyification]

@Kosimba1 Because saving apparently doesn't grow the economy... wtf?

[lanceawatt]

it emphasizes how individual ambition would mold into collective ambition when faced with a more tangible notion of benefiting from each other through cooperation rather than self interest ftw

[eurohim]

I agree that you would see an upturn from the artificial boom, but ultimately you're making things that add no value to society (bombs etc) and thus you're much poorer than when you started because you used all these resources (time and materials) for nothing. Maybe they'd extend it by blowing the bombs up in other countries.

[eurohim]

@eurohim Although, there would probably be a decline in quality of life. During WW2 our numbers looked good, but everything was being rationed and it was miserable. The numbers don't mean much if they don't represent an increased quality of life. Soviet Russia have fantastic GDP numbers, but they weren't putting resources in the right places, so it was meaningless. People were living in what Americans would consider poverty conditions. *sigh*

[eyecoin]

How can this guy win a nobel? He needs to be committed to a mental institution for being a living example of the definition of insanity. How many QE's will we want before we realize it is destroying us?

[efox72]

Or....we could always just lower taxes and spending. We could have all the economic growth that Paulie wants without the Fed Reserve printing more money and stealing from all of our wallets. But nah, we should probably spend more and print more money. That'll probably work eventually right? Yeah.

[DougWulfram]

Krugman is a dizzy jew.

[kahcal126]

although this video is quite funny. Thanks for posting

[kahcal126]

Man, I saw this whole quickening video that talked about a fake invasion...Peoples imagination and a sprinkle of fear. Dont worry folks thier is nothing to see here.

[Longhornzrock96]

Project Bluebeam....

[abortabraham]

hey, you know what, being in 2 wars for 10 years wasnt enough, we need to spend MORE money on things that don't produce weath, then we'll have a good economy again. its good to know people take this guy seriously.

[DragonLakeGS]

As Bugs Bunny would say: "What a maroon!!!"

Krugman thinks that WWII got the US out of the Depression?? NOT!! It was the five years of saving ( rationing and few consumer goods to buy anyway) plus family separation and marriage delays which put the population into position for a post-war boom. He is so ignorant that he does not know the difference between fiat money and wealth. IT'S THE DEBT, STUPID!!!

[Tressco]

Project Bluebeam precognition...?

[onassisfamily]

Wow, why is everyone so negative on this just because he mentioned aliens? All he was looking for was an example of something that'd mobilize the entire world at one big shot. Would an asteroid hit have been better? I don't agree with his "spend and spend" and all will be fine theory. But his 'example' isn't stupid or weird. It's just an example.

[whippoorwillss]

@onassisfamily the word despotic comes to mind.

[immetal1]

@onassisfamily No, it's actually a bad idea....go try and use ur credit card to get out of debt, especially if you waste all that money on an emergency that never comes...The nobel commitee should admit that the nobel prize is now officially a joke award after giving it to this guy and obama

[jastiksk8crw]

@onassisfamily because you've been conditioned for this since the 50s. Just think about all the alien propoganda lately. If there was a false alien invasion would that not give the entire world a good reason to unite together? They're goal is for ONE everything including one belief system

[foxdirect]

What a fruitcake. This guy needs to lose everything he has - he's obviously already lost his sense of reason.

[papaclop]

Krugman needs to be taught the "Broken window" economic analogy. No wealth was created during WWII. We're in hoc up to our ears, and he wants to create more monopoly money. What an idiot.

[dslider1]

Krugman looks like a demented kewpie doll.

[Mostdef]

what an idiot

[Wortel24]

@Mostdef 

[dafyduck79]

i am wondering about this whole intelectual way, which human kind went to reach this idea, that destroying something can help the economy!

i mean that the only boston big dick is paul krugman.

[triczka]

The Baby Boomers have already spent my and my children's money, why not spend my grand and great-grandchildren's money too? Fuck it, spend the money that will hypothetically be made by the mixed-species offspring of humans and our future alien overlords. They'll prolly be makin' BANK.

[71wilcox]

@triczka Baby Boomers might the worse freaken generation in american history.

[celer1ty2]

I love Krugman's sense of humor! Incredible how people here don't get it.

[flyinbry]

This is the guy advising Obama?

[fosponomot]

the title refers to a hypothetical. repugs are stupid and/or childish. you know what your mother should have had? an _________.

[kepler1000]

@fosponomot

I know maybe we can declare war on China....it would have the same effect! You do realize the only time progressive state run economic policies work is in a major war, like WWII.

Just ell Obama to start WWIII and make it last forever, and you guys can have at last your liberal national socialist utopia....

[Illyrien]

Krugman, just give me a credit card with unlimited backing and I will provide the spending :)

[Illyrien]

Anathema to people in washington? What a joke, it IS what Obama and his cronies wants to do ( and all danish parties except one small one...). His absurd ideas arent uncommen... they are widely accepted!

[TheJunoo]

Irrational idiot~~~~~~~

[gatzu86]

Krugman is high on the retard drug called keynesian ecomomics.

[philipemongo]

sicko, says something bout NY times too. Sucks

[WHITEHOUSE1600DC]

Krugman ......Lone Wolf

[BigDaddyDJD]

The best way to discredit Keynesianism is to just listen to the Keynesians

[MultiAZ3000]

Well, what he's arguing for is essentially reasonable, if counterintiutive. The Depression was ended by the massive spending of WW2. That spending was actually negative from a human welfare point of view, as it killed lots of people and wrought massive destruction on the capital stock of Europe. This idea would after all not destroy any value, just create meaningless investments, so it should arguably be even more efficient than the WW2. Recession over in 18 months? I don't doubt it. /Economist

[TheBullionBull]

@MultiAZ3000 "The Depression was ended by the massive spending of WW2."

That is a total myth, living standards went down during the war due to rationing, millions of tons of goods and man hours were wasted, and unemployment was not really solved - they simply put 10 million men in uniform and went into debt to pay for it. The real recovery did not come until 1946 when the war spending stopped and every factory but America's had been leveled by bombs, thus giving us a huge advantage.

[albertannationalist]

@TheBullionBull To think all these neo-Keynesians are probably cursing Iraq/Afghanistan because George W. Bush (pbuh) didn't institute a full draft in the process.

[Illyrien]

@MultiAZ3000

True, the current depression isn't very fun to experience, but what is happening is a readjustment to gear the economy to consumer demands. What is needed isnt that the government delay and disrupt the process, but that they out of the way so the market can get rid of the previous government caused maladjusment. Yes there will be unemployment in the meantime, but ending the unemployment just prevents the companies from actually hiring the new people they need to satisfy consumers.

[TABOOVSKNOWLEDGE]

This mans sulution is aways government. After WW2, it was the people that wanted to get back to their lifes and away from government activities like world wars! Government is the problem! Mostly the federal reserve!

[cyryc]

@TABOOVSKNOWLEDGE Let's not make blanket statements. 'Government' is not the problem - it's abuse of that government that is. And we, as humans, have become extremely abusive creatures. That's why the problem isn't McDonald's or its food, its the person who eats it every meal. Government isn't the problem - it's the corrupt officials, red tape, and overall ridiculous corruptness that has been extremely tampered with over the years and has turned it into an all-consuming monster.

[cyryc]

@TABOOVSKNOWLEDGE But even that is just ONE part of the problem.. the amount of factors involved and contributing are actually uncountable and impossible for anyone to completely list.

[TABOOVSKNOWLEDGE]

@cyryc Impossible to list but possible to title." Human "!

[Reaps51]

Nobel prize winner in economics there, people.

*slumps in chair* sure explains a lot..

[bwps2006]

ahhhhh, anyone else notice the floating globe in the background? It's turning in the WRONG direction. Alien theocracy is bad enough, but having the sun rise from the west is sooooo tacky science. le sigh

[DavidAKZ]

@bwps2006 we have your number ;-)

[saucy626]

Ummm he's talking about a hypothetical situation to illustrate an economic principle.

[DavidAKZ]

@saucy626 what, do you think Boston big dick prices are hypothetical ? Google 'Confessions of an economic hitman' . Neither of them acknowledge the role of debt in society

[erwinthehamsandwich]

I hope Krugman gets cryogenically frozen and comes back when WWIII starts. I mean the economy is just gonna' be top-notch.

[LuckerLol]

... One of these days earthlings, one of these days!...

*POW RIGHT IN THE KISSER*

[CrossEyed7]

Okay, maybe I'm just stupid.

But this guy talked about having inflation during a depression as though it's a good thing, something to strive for, even.

Isn't that called stagflation?

...Isn't stagflation a bad thing?

Maybe I'm just stupid.

(Also, if paying people to dig a ditch and then paying other people to fill it in is productive employment, why not cut out the middleman and pay people to do nothing?)

[DavidAKZ]

@CrossEyed7 depends where you are in society. If you are a government, you can reduce the value of your debt by increasing the money supply. If you hold reserve currency status, you can print money and destroy everyone elsesess savings too. Get the picture ? ps arbeit macht frei

[H1TMANactual]

Keynesians are all retarded!

[AFRIKTODAY]

Where is the french guillotine when we need one?

[Bender711]

I love the onion! wait.....shit.

[Wortel24]

@Bender711

Hilarious comment. I actually took a class from Krugman. Yikes......

[8enbloc]

So, the rationing and scarcity during WW2 was really prosperity? Who knew?

(We're already fighting *three* wars, learned professors... how many more do we need before we're back to farting through silk?)

There's an old saying to the effect that some ideas are so patently stupid they can only be espoused by trained academicians -- or Nobel Prize laureates, apparently.

[Baileygeep7]

Krugman is a liar, govt spending was 50% of GDP during WW2, by 1947 govt spending dropped to 25% of GDP down to the same pre-war levels of the depression, the economy expanded with zero govt spending. Today govt spending is basically at WW2 levels, 40% of GDP and the results are exactly what they should be from such a simplistic govt sector cluster fuck. The fed starts up QE3 and barney frank will still suck big dicks and the US will still follow and vote for these fucking flakes, amazing.

[OhMyGoog]

The scariest part off this video is not the Aliens, it is thefact that the country's "leading" economist has never heard of the Broken Window Fallacy.

[jimmyt3411]

@OhMyGoog It makes sense why the U.S. economy is in shambles.

[cyryc]

IT'S NOT TWILIGHT ZONE, KRUGMAN! AAAGH! If you're going to cite something, cite it correctly. Krugman is referring to the episode of the OUTER LIMITS called 'Architects of Fear', which they turn one of their own people into an 'alien' for the purpose of a distraction/scapegoat which enemies would then become allies to work together against a common enemy.

[Visfen]

@cyryc Which in term just copied the plot from "The Watchmen".

[cyryc]

@Visfen I'm sorry, what? You mean the Watchmen copied the Outer Limits, right? Outer Limits - Architects of Fear was made in 1963, Watchmen was made in 1986. Awwww.. the precious all-time super-duper best graphic novel really wasn't that original, now was it? LOL

[Visfen]

@cyryc Cool, didn't know that. We then got plagiarism of plagiarism of plagiarism :)

[cyryc]

@Visfen I wouldn't go so far as to say plagiarism, because that implies directly ripping something off verbatim. To Watchmens credit, there's still the whole 90% of the book prior to Ozymandius but it beckons the question if, with enough time and knowledge, the whole book is an amalgam of previous works. As for the basic theme of enemies becoming allies to face a common threat, I'm certain that has got to be an idea that goes all the way back to primitive man and WM could have been more original

[bmay1000]

you know what we need mr krugman? a housing bubble. surely that would work. (they seem to just give away nobel prizes these days eh.)

[FmMaj9]

The slump would only TEMPORARILY be over, and there'd be a huge debt to pay off. We'd be in worse shape in the long run. The problem with Keynesian economics is that it fails to take into account the other part of the equation: government CAN'T EARN MONEY, so it must STEAL it in the form of taxes. IF they STEAL the money from some people and give it to others, the sum is still zero. It's like taking water out of one side of an aquarium and pouring it into the other side. Only growth works.

[vllmer]

SPACE UNICORNS!!

Search youtube and DEMAND YOURS!!

[mikemat3307]

@vllmer "SPACE UNICORNS!!"

...that fart rainbows and shit multi-flavored lollipops. Krugabe has his head up one's ass.

[vllmer]

WWWOOOOOHOO ALIENS COM'N SAVE AMERICA 'N INVADE US EXPERTS SAID SO WOOOOOOOHOOOOOOO I ALREADY GOTS ME A JOB!!!

[dhansen888]

A true Keynesian argument.

[AnarchoCapitalistTV]

i met Fareed at LSE. he was all about "inflating away the debt". what nutjobs.

[northkato]

after people stop being afraid of terrorists, aliens will become the new boogyman

[deckertone]

He's a poster child for the libs! This is who they are! This is one of many many reasons that AMERICA HATES LIBERALS! :)

[pianowitz]

PROJECT BLUEBEAM

[netster007z]

Its all lunacy. Well good to know Krugman supported the wars in Iraq, Afganistan, and Libya as valuable government fiscal stimulus, right?

[RMT87]

i've heard it all now

[Yakko77]

Two things. Where does this guy get his drugs? I WANTS SOME!!! Second, when your economic model depends on a alien invasion to work, well.....

[bibcath]

It wasn't The Twilight Zone it was The Outer Limits.....

[r0bh0lmes]

Ha ha ha!!!!! We have now departed planet reality! Share this with all of your friends. There is no better advertisement of the blatant stupidity of this spending our way to prosperity crowd.

[mintycrys]

Can anybody help me find the rails? Paul Krugman has gone off of them and needs to be put back on them.

Quick! While I still have him trapped under this plastic cup!

[RKAddict101]

LOL



[TheLastBrainLeft]

WWII was not an example of successful Keynesian policies. The economy didn't grow much between 1942 and 1945, we just funneled all of our existing assets into one goal (winning the war). The economy grew MUCH faster after the war ended, when government spending was cut by nearly 70 percent between 1946 and 1949.

[mikemat3307]

@TheLastBrainLeft Don't forget, all of the factories in Europe and Japan had been bombed into oblivion. Only US factories remained. The US had no real foreign competition in durable goods. That's something the Keynesians seem to intentionally forget.

[CornerTalker]

World War II is his idea of prosperity!?  We were on rationing!

[RogerOnTheRight]

So, you dig a hole to fill it up, then call that "productive work".

By this measure, so-called "infrastructure investment", so loudly touted by Obama a few years ago, is completely irrelevant. No need to build roads and bridges at all. Or, if you do, you are better off destroying them again, to rebuild them again.

WW2 did *not* get us out of the depression. Wealth was not created then, but destroyed.

[r0bh0lmes]

@RogerOnTheRight I lol'd when he called that "productive." How is society bettered? Where is the PRODUCTION? Oh, they'll buy stuff and pay taxes.

[DavidAKZ]

@RogerOnTheRight arbeit macht frei

[2010FX35]

Krugman _is_ a space alien.

[mikemat3307]

Keynes would have NEVER approved of debt to GDP ratios anywhere near 100%. I think we need to put Pauly Krugnuts in a rocket ship and blast HIM into outer space.

The fact is, the neo-Keynesians are out of ideas. Pauly Krugnuts will be the copilot in Gentle Ben's helicopter. Got Hefty?

[djdnauk1977]

"in space no one can hear you breaking windows" KRUGMAN IS A MORON

[eoinoneill91]

He's simply using an example to convey that it would be virtually possible to get out of the economic slump in a matter of months, you fucking idiots.

"HURR DURR HE SAID ALIENS HERP WHAT A RETARD DERP."

Again, a fucking example, you stupid, stupid people.

[djdnauk1977]

@eoinoneill91 hes engaging in the broken window fallacy, claiming a war would help the economy... how is anyone with more than 2 brain cells meant to take that seriously?

[mikemat3307]

@eoinoneill91 "They can print money, but they can't print wheat." - Rick Santelli

[DavidAKZ]

@mikemat3307 you can't print wheat, but you can drive up the price in futures markets sending millions into starvation.

[mikemat3307]

@DavidAKZ "but you can drive up the price in futures markets sending millions into starvation. "

and what happens in the future when the supply is greater than the demand? The people who shorted the market lose money. Eventually the market catches up. Unless, of course, the government is inflating the currency and handing out subsidies.

[machaeroguy]

This, coming from a man who said America needs a housing bubble.

[SlickExecutiveType]

what a retard

[TheSoturitar]

great man.



[RonaldoDeLosMuertos]

Fuckin nutjobs.

[jimbobubbadj]

Hey I lived in Boston and the big dig was a big benefit to me. The money was well spent as far as I am concerned.

[machaeroguy]

@jimbobubbadj If it benefited you, it must have been good then.

[DavidAKZ]

@jimbobubbadj I would read 'Confessions of an economic hitman'. Like the author you may have an epiphany.

[machwon]

I wanna know where Krugman buys his drugs, he has the bomb connect.

[TreachMarkets]

Listening to these guys, it's as if they have no clue that the debt has to be payed back to the banking cartel.

[jarrodatkinson]

I don't even think Krugmann could spend the $14 trillion the Fed has created in the last 2 years. Obviously, planning to defend against alien invasion would put a dent in it though. Everyone would starve in the mean time, but, hey, we'd be able to repel us some aliens....

[Germantunedcars]

What an idiot! And these are the tools running America along with other countries. Fucking Keynesian neo-cons. 

[scottbieser]

Well, that's the best laugh I've had today.

[AnarchoCapitalistTV]

ffs. what complete morons.

[i2aymond]

huuuwhu!

[DKshad0w]

I knew it! Paul Krugman is a reptilian.

[justintempler]

Great instead of the Housing Boom & Bust we get the Space Alien Boom & Bust

[remyroyster]

You know what, aliens are much smarter. They are explicitly not attacking us because they want the US and the world to collapse. That's passive destruction guys. They know what they are doing. The proof is that we haven't seen them.

[Quex01]

Bunch of fucking jews. Say hello to Bernanke, you bastard.

[BrooklynRedLeg]

What the bloody fuck? Yea, Krugman, let's kill hundreds of millions of people again. That'll jump start the economy! Douchebag.

[diurdi]

This is a keeper.

[odin422]

these two fucks are complete wackjobs.

[hellsunicorn]

HAHAHAHAHA!!!!!!!!!!!!!!!!!!!!­!! ALIENS??????

This guy is a fucking psychopath, why do people listen to him again? Hell, why was he even born?

[KyleSkullz]

@hellsunicorn

People listen to them, because he gives intellectual cover for their intellectually bankrupt political policies, such as war, bailouts, socialism, etc.

[BigGator5]

@hellsunicorn To keep the rest of us amused.

[hellsunicorn]

@BigGator5 Point well taken, the only problem is that it isn't funny when someone gets elected who actually listens to this guy, it's actually kind of scary, particularly if you're some poor goat herder in Afghanistan or some other country who suddenly has his entire family killed because Krugman thinks war will restart America's economy.

[MassZombicide]

@hellsunicorn He was born because his parents (a form of murderer) decided to play Frankenstein with someone else's life by forcing him into existence, knowing he'd inevitably die a likely slow & painful death 1 way or another, whether that be neglected, shitting himself in agony with incontinence at a retirement home as he deteriorates growing blind & whatnot or of a car crash, murderer (other than his parents), fire, natural disaster et cetera / because breeders are nothing more than animals

[martapereiraaa]

@hellsunicorn yeah short-sighted people normally see nobel prize winners as psychopaths. same with einstein. but then again, i dont think a user with the name 'hellsunicorn' has legitimacy to call anyone a psychopath. sorry bout that, lad

[hellsunicorn]

@martapereiraaa Don't apologize for being an idiot and not being able to help it lad, or anything else that is outside your control. lol

P.S. - Yasser Arafat won a nobel prize, as did our current warmongering president.

[Illyrien]

@hellsunicorn

In other words, you can kill for a peace price :)

[hellsunicorn]

@Illyrien Yep, at least according to the Nobel committee, personally I lean towards a radically different mindset.