This Week: Panel Discusses the Stimulus Package
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Stephanopolous and Krugman, what a pair of lying, incompetent jackasses. Warning: If you believe anything they say, you'll be dumber for having watched this video.
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"The stimulus only stimulated Chris Matthews' leg." ---Congress of Racial Equality National Spkesman Niger Innis to Sean Hannity, Aug. 18, 2011
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@treddas851 Milton Friedman specifically says in his permanent income hypothesis that if people were given some transatlantic income they would not spend it as they know they cant sustain their expenditure into the future. But then he uses the helicopter analogy where if money was dropped from a helicopter people will spend it..... contradiction right there.
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@treddas851 In all fairness they are not actually implementing any of Keynes' real remedies. All that the government have done is reversed Okuns law (1% employment = 3% growth) and targeted growth in an attempt to reduce unemployment. Keynes strongly advocated that spending should be directly used for targeting the unemployed with jobs, not by just giving them money as they are already uncertain about the future. As for Milton Friedman, good economist but he contradicts himself on occasions.
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Krugman is a Stalin-era Communist faker.
God Save The Obama!
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@bonfirejovi No your wrong.Keynsianism was a failure and a anglophile invention.It´s a sorry to see you young englishmen fall for that economic disaster in pure patriotism.You should read some Milton Friedman like Essays in Positive Economics,that debunk both the Austrian and Keynsian crap.
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@treddas851 lol keynesianism looking now buddy?
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8% unemployment by 2011. We are at almost 10% now (July 2009). Real unemployment (like the way we used to calculate in the 1930's) is around 18%.
We are all Keynesians now. And we are all dead.
BTW - Kruggman never blinks...very strange.
happinessisnowhere 2 years ago 6
Yeah I should have known. It's always painful to see people so obviously, pathetically and knowingly bullshitting themselves. I've blocked the guy though arguing with someone like that is just frustrating and it's a one-way street.
ipbalkenende 2 years ago 2