Krugman And Keynesian Fear Mongering

This is the third in the Times Talks video series from Paul Krugman.  Listen and hear how the world will soon come to an end if this particular recession is not mitigated.  For the record, Krugman originally wanted a stimulus in excess of $2 trillion.  A Japanese style deflationary trap is contemplated.

Watch

Part I: Krugman On Bailouts & Lemon Socialism

Part II: The Height Of Hypocrisy: Krugman's Housing Bubble Amnesia

Comments

[Sonic Ninja Kitty]

ACK! It burns my ears--it burns my eyes! Paul Krugman is the WRONGEST 'expert' in the history of mankind! Why is this voodoo monger given an credence whatsoever? (Oh, right, it's the NYT which is putting it out there, 'nuff said.)

Fellow citizens, save yourselves: turn away from Krugman! His policies will in reality put us INTO a Japanese style deflationary trap. Read the counterpoints to his weak arguments. Here are three excellent articles to start with:
Krugman the Keynesian by William Anderson http://mises.org/story/1318
Keynesian Economics - A Flawed Economic Theory by Roger Martinez http://capitalisthero.com/Keynesian_Economics.php
The Upside Down World of John Maynard Keyens by Mark Thornton http://mises.org/story/3413

Research it yourself--there are hundreds of economists out there who disagree with him. Don't be dazzled by the shine from his Nobel Prize--it was for a highly technical and specialized mathematical model. On bigger issues, Krugman doesn't know what the h-e-double toothpicks he's talking about. He is a highly political person swept up by the glamor of power, don't listen to him!

.......then again, he is sort of cute. Nnngack--but he doesn't make sense!
.......he kind-of reminds me of a teddy bear. Snap out of it--he is a fraud!
The beard really is adorable. {bangs head against wall}

[DailyBail]

@sonic

I'm glad you feel the same about Krugman. It's a difficult line to walk because he has been on our side with regard to the bailouts, at least for the most part. So while I praise and applaud him for his work on behalf of taxpayers in this arena, in the realm of grand gov't stimulus, he hates recessions so much that he's willing to borrow trillions from future generations. All so that's his party doesn't lose power in the midterm 2010 elections.

Keynesian economists are political animals at their core, which can be extremely dangerous for the rest of us. Especially, when it's our money they plan to use in their voodoo experiments.

[Sonic Ninja Kitty]

IMHO, stimulus plans are almost the same as bailouts. The only difference is the money is laundered by government goons first then handed out to their cronies. Krugman likes this because it makes it harder for people to identify which cronies get what and he gets to hide behind the 'we in government and advisory roles are your saviors' lie. He's too much of an intellectual coward to stand behind any outright bailout.

I'm not a total anarchist--I do believe government has a role in public works, but it is WAY smaller than what they are doing now, and should be as decentralized as possible. I'm glad you see Keynesianism (and the bulk of government spending) for what it truly is: lies and theft.

As always, thank you for bringing all these great illustrative videos to everyone's attention! I know it takes tons of time, but it really is helping to inform people!

[Lee]

Who is this Charlie? Nervous waffling but doesn't say anything that makes any sense. He received a 'nobel prize" Ouch!!!