Tom Woods Q&A: Why does Krugman still have a job?

Q&A from Tom Woods' lecture at IU on the financial crisis. Get involved with your own local Young Americans for Liberty Group. You can find our group here: http://www.facebook.com/groups/45278093041/ Subscribe to our channel, and yes, more is coming...

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Education

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• tom
• woods
• thomas
• economics
• indiana
• university
• paul
• krugman
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[FartyFace]

"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, Dubya’s Double Dip, August 2nd, 2002

[CaptainZuluGamma]

6:43

[unclexbob]

@mpc91 "But you have displayed the usual "emperor's new clothes" arrogance that those of your ilk seem to wear as a badge of honor."

Hilarious. You are clearly 1000 times humbler than me.

[mpc91]

@unclexbob - You're funny. "I have no idea what this guys economic arguments are".

You seem to be arguing semantics with a straw man version of me, and completely ignoring what I've actually written. But since you seem to be ignorant of quite a bit, I'll take that as par for the course.

You've done nothing to disprove the original assertion. But you have displayed the usual "emperor's new clothes" arrogance that those of your ilk seem to wear as a badge of honor.

[unclexbob]

@mpc91 I watched this video....it is how I was capable of commenting on it, let alone knew what he said about Krugman.

Now that you admit you define following someones advice as any appearance of mutual agreement, my job here is done. You are no longer arguing with me, but with a dictionary. I'm betting on the dictionary.

[mpc91]

@unclexbob - You're the one arguing with that which you still have not actually seen.

Yes, you are confusing Greenspan's words from his actions. His ideology is meaningless when he acted in a contrary manner.

The point is that Krugman tells those in power what they want to hear, and you have said nothing to dispute that.

[unclexbob]

@mpc91 I'm not confusing what Greenspan said about anything. His ideology couldn't be further from what Krugman believes.

If you are just trying to suggest there was a random correlations between the two in actions and arguments, then fine. But that isn't suggesting Krugman is influential at all. That would just be arguing for some vague unrelated correlation of action and argument.

Perhaps you need more time to figure out what your argument is?

[mpc91]

@unclexbob - Don't confuse what Greenspan said with what he actually did. He talked a laissez-faire game, but his actions fit in with the Keynesian mold.

As for Krugman, nobody has said that the powers that be do exactly what he says, but he definitely tells them what they want to hear.

You still haven't watched the video, have you? Still don't know who Tom Woods is, do you?

It's a good feeling to know we disagree, because if I agreed with someone as joyfully ignorant as you, I'd be worried.

[unclexbob]

@mpc91 Wait, Greenspan was not only a Keynesian, but a follower of Krugman?

You are thoroughly demonstrating what an idiot you are, with that statement alone.

[mpc91]

@unclexbob - What of Krugman's suggestions hasn't been followed? They've done everything he's asked for. Bush and Obama both have worked for his Keynesian stimulus. Greenspan lowered interest rates as he called for. Then Krugman dissociated himself from these actions and claimed they "did not go far enough"

Woods actually says that, "he tells the powers that be what they want to hear." - and you certainly does that.