Krugman's New Extraterrestrial Economic Plan for America

The collapse of the US Government and US dollar is really turning into some of the best entertainment you can find.  We've been enjoying it for the profit alone with our large position in gold and hard asset related investments. Just the humor, however,  is worth the price of admission.  We've stopped watching comedy movies. Will Ferrell can't beat this.

The biggest laughs of them all come from Paul Krugman of the New York Times.  Krugman, as anyone with a functioning cerebrum knows, is nothing but a court jester or sideshow act of the collapse.

Insane, Homeless Man Finds Suit in TrashHe looks like an insane, homeless man.  And, I realize I just insulted insane, homeless men around the world.

Adding to the laugh factor, everything he says sounds like what an insane, homeless man would say!  It's hard to know where to even begin with him.

Perhaps the funniest thing about Krugman is that he promotes himself as having won the Nobel Prize in Economics.  There is, for the record, no such thing.

It'd be like if the Nantucket Bowling League had a "Nantucket Nobel Bowling Prize" and you went around town telling people you won the Nobel Prize in Bowling.

What Krugman attests to have won is a Nobel Memorial Prize in Economic Sciences.  This "prize" is handed out by the central bank of Sweden, Sveriges Riksbank.  Surprise, surprise... a central bank likes crazed Keynesian loudmouths.

In other words, it has no connection to the Nobel Prize whatsoever.  Not that any connection to the Nobel Prize would be anything about which to crow.  War-monger Barack Obama won the Nobel Peace Prize, after all!

But it is funny nonetheless that Krugman promotes himself this way.

But, today, Krugman even outdid.... Krugman!

He went on the State Broadcasting Network (known as "CNN" to most) to debate another Statist.  That is the only kind of debates allowed on State Media in the US, after all.

His opponent stated that he approves of state spending on things as long as they are "useful" things.  Krugman, offering the other side of the Statist argument, vehemently disagreed.  Krugman said that ALL state spending is good and helps the economy.

Both are sadly, dangerously incorrect, of course.  But even in this battle of the losers, Krugman loses.

Looking dishelved and unkempt, Krugman responded, "Look at World War II!", espousing the usual incorrect Keynesian propaganda that World War II pulled the US out of the Great Depression.  And then he showed the insanity of his position.

He stated that even if we could come up with some artificial space attack by aliens, that THAT would help the economy!  (You have to see it to believe it - below)

After all, we'd all be busy working on laser guns and outer space weapons technology, putting not only America back to work, but the entire world!

And, in that one statement, he showed the ludicrousity of modern Keynesian dogma.

So, if everyone in the world stopped what they were doing for a few years... No new iPads... no new flat screen TVs, no food production - except for subsistence level... and we all devoted all our time, effort and capital to preparing for a non-existant war, we'd be better off?

But even this isn't the worst part.  That's how you know we are all screwed.

The worst part is that no one laughed.

Comments

[Kirk]

Krugman actually believes his own BS and is the epitome of the statement " He's a legend in his own mind". Perhaps Krugman and that guy who invented the internet (The self proclaimed Paul Revere of global warming) could drown themselves on common ground. Remember! Mainstream media allows them and people like them the platform on which they spread their lunacy.

[Laurence Hunt]

Jeff,

I read Krugman to find out how to think wrongly, so I know you have a monster-sized target here. Yes, those are tired, exhausted ideas, for sure!

Thanks for the clarification on the non-Nobel prize....

However, I just finished watching a long interview with Ron Paul on CNN. Mr. Paul expressed very articulately a viewpoint more similar to yours than different. And for what it's worth, CNN is a private company. I know, I own shares.

I count among my friends a number of homeless individuals, so please, don't insult them!

[Casual Observer]

One just has to wonder, why is it that Jewish liberals are always touting the benefits of war?

[Kevin Beck]

I wonder what Krugman's opinion of Reagan's anti-Soviet military revitalization program was. Maybe since it was targeted against the former Soviet Union, that paradise of a command economy, he probably would have objected to it at the same time he would have said we needed to spend more. But that was in the days before he won his fake Nobel Prize for Government Economic Policy.

[Thorgull]

Actually, Krugman is correct.

If we were to think that we need to ramp up to prepare to face an existential threat, and then it wasn't there anymore, then say 18 month down the road we would not have this crisis any longer. True.

What everybody seems to be missing here is the truth (is anything really new under the moon?).

Your usual commentators are not telling you that Krugman is right, because, they don't believe you're smart enough to understand why it is not an acceptable solution, extraordinarily so, even though there may not be any other solution and we just have to live through the pain of depression. It is simply dishonest to use Krugman's solution, which, of course wouldn't bother Krugman himself.

Krugman, in turn, isn't telling you exactly why that would be a solution, because most of you would then know he plans to rob you blind, and would leave the country.

The way a war works to beef up the economy is by taking 99% of resources of people and putting in in government control, however inefficiently. Once the war is over, the remainder is up for grabs sort of like "free for all natural resource", or is pounded into the base of infrastructure, therefore qualifying as a long term cost prepayment. The "enterpreneurs" then are free to "productively use" that to create an "booming economy".

A though experiment. Let us say that we took one person, and squeeze 99% of his health away, converting it (for the sake of simplicity) to electric power. (Let us imagine that he was pedaling the generator for 18 wartime month for free under the threat of being shot as an enemy combatant if he didn't pedal).

The war ended, and even though our guy generated 1,000,000 kWt of electricity, the inefficient government generator and crappy government battery only delifered half of that, or about 500,000 kWt. Now, some enterpreneur is gonna get a hold of that and sell most of it making profit for himself and employing 2 people. Some of the energy is also used to power a free trolley bus connecting residential area and a factory, so that workers can afford to work for less, not being compensated even for the cost they carry, and still think they do come ahead.

That is the economy that Krugman offers you to build, but he is not telling you that you gonna have to pay 99% of your health, cause you wouldn't want to.

That is the economy that most anti-keynesians say is impossible to build, and they are lying, because they are afraid that you may not be smart enough to see the horrible cost it will come at.

Politicians will invariably support Krugman, and it is very likely that the US will have to get itself into a major conflict, in order to justify new government powers, under which YOU will either be a casualty or YOUR health and /or wealth will be 99% confiscated.

Politicians will say this : "EVERYONE NEEDS TO PULL TOGETHER NOW"!!! I predict, and guarantee you this.

Don't you worry about them, they are going to come out all right, as well as their families.

Me? I did not ride in a black suburban with tinted windows (which for regular people are even illegal to have), so why should I "NOW PULL TOGETHER"? I did not spend this, and I am sure as hell not going to pull now.

You? It's up to you. If you choose to go the Krugman's way, one good thing is that children are going to learn in school that you died as a hero, paying with your life, limb, health or wealth for Obama's Suburban.

[Laurence Hunt]

I fail to detect the relevance of anyone's identity as a Jewish intellectual to the above discussion. I'd ask the moderator to rethink comments that pertain to ethnic identity, particularly as the primary focus. I'd like to think we're beyond that kind of discussion here.