Paul Krugman - The Chinese Are Part of Our Problem

Have you read the reviews on Krugman's new book yet? http://www.amazon.com/gp/product/B004J8HXGS/ref=as_li_ss_tl?ie=UTF8&tag=t...

It's almost as if people have been trying to tank the economy for political gain. The worse that the economy is, the better the political outlook for Republicans. If you want to describe where we are, we are trapped in a vicious circle. The government should be trying to break that cycle by giving money to the people who need it the most.

Things right now are better than when Obama was elected, but we need a lot more stimulus. We have only gotten about 1/3 of the stimulus that we needed. We need the government to get in there and start spending. If you only do it for two years, then it isn't going to matter. But we can't let all of the tax cuts continue. There is going to be a demand that Obama extends the tax cuts forever, and we can't have that.

There aren't any economists that will recommend stimulus packages to the Republicans. Even back during the great depression, the conservatives agreed that we should take care of the unemployed. It is going to be a tough decision. The deal that was made wasn't worth making, and the next deal is going to be even worse. Most of the money that was meant to help homeowners haven't been spent. The Chinese are a big part of our problem.

It is a long term project to educate the public. A large amount of the population get their information from the mainstream media, which is a big problem.

Category:

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• Paul Krugman
• Princeton
• Ben Bernanke
• Obama
• liberal
• conscience of a liberal
• economist
• nobel prize
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• rachel maddow
• fox news

[migkillertwo]

@stebecool She's not a journalist and I don't think she's ever claimed to be. She's an opinion commentator.

[stebecool]

Give me a fucking break. Maddow is such a dishonest homer water carrier for the Democratic party. She says that Republicans are rooting for the economy to crash to make Obama lose in 2012 and ignores the fact that the Democrats did the exact same thing during the Bush years. How do people like this get passed along as "journalists"? I'm not registered to either party, but the hypocrisy and propaganda-spewing really irk me. She is the definition of "shill".

[Premier112]

They don't have "poor monetary policy", it's set out to accomplish exactly what they want it to.

To expand their industrialization rapidly above and at the expense of all other world nations, while leaving their lower and middle class stagnant, and an easily controlled small economic elite allowed the freedom for wide scale capitalism to fuel their growth.

Reaching your goal is hardly poor policy.

This talk about protecting jobs is horse manure. Doesn't have a damned thing to do with jobs.

[DimensionnX]

@krillin876 Actually they print money, which devaluates their currency, and buy the US currency, which raises it's value.

[krillin876]

The Chinese dont really devalue their currency, they just try to peg it to our poor monetary policy. In the last 5 years their currency has gained against the usd

[volshebny]

He's just referring to the under-valued Yuan/Renminbi. The reason the Chinese keep their currency under-valued is to protect Chinese jobs. We just spent a vast amount of treasure and blood in the Middle East, but now that we're leaving the region we are witnessing many sales that we thought come to us are instead going to China. How do we promote sales around the globe when our competition is able to provide products at a fraction of what we can? Largely due to their valuation of their currency

[keithradamsstatus]

Excellent video great insights.

[amitshah55]

why ppl clap for him ?

[buttheadgsxr1000]

@KypHeM Because he's not even close to being right.

[KypHeM]

I am shocked you don't have more views.