Paul Krugman Doesn't Understand Basic...

Paul Krugman Doesn't Understand Basic Economics

There are 47 comments on the www.unelected.org story from Aug 9, 2010, titled Paul Krugman Doesn't Understand Basic Economics. In it, www.unelected.org reports that:

Paul Krugman likes to spread the fallacious notion that inflation is good for the economy. Krugman is dead wrong, however, as the United States economy spirals towards hyperinflation. Krugman's Keynesian view of economics has failed countries like Greece and has failed the United States, but does Krugman even understand basic economics?

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“My Commander-in-Chi ef!”

Since: Jun 07

Obama got Osama!

#1 Aug 9, 2010
Paul Krugman is Professor of Economics and International Affairs; he won the Nobel Memorial Prize in Economics in 2008, and he was voted six in a 2005 global poll of the world's top 100 intellectuals…
it is funny how his critics are the same right-wing jerks who supported Bush’s economic policies that pushed this nation’s to the edge of financial collapse.
Paul Krugman Is The Man

Oscoda, MI

#2 Aug 9, 2010
Paul Krugman warned that the stimulus package needed to be bigger. I feel the man would be, and IS, the best choice to sit in Obama's economic cabinet. He is sorely needed. I hope President Obama offers him the job, and I hope Mr. Krugman accepts. Obama has two years to get the country on the right economic road. He can't mess up with the wrong pick.
SHAMROCK

AOL

#3 Aug 9, 2010
Pat get a life. The Nobels seem to be handed out to any boob who is liberal. Krugman, Obama, ect.

“Hillary, thirty years of lying”

Since: Nov 08

Paris

#4 Aug 9, 2010
Marine Corp Pat wrote:
Paul Krugman is Professor of Economics and International Affairs; he won the Nobel Memorial Prize in Economics in 2008, and he was voted six in a 2005 global poll of the world's top 100 intellectuals…
it is funny how his critics are the same right-wing jerks who supported Bush’s economic policies that pushed this nation’s to the edge of financial collapse.
DA PRINCE AND DA PAULPER………………………WE’RE THE PAULPER.

PAPER: Time to admit Obamanomics has failed...EVEYTHING HE DOES HAS FAILED

Presidency 'resembles modern-day Ancien Régime'... The Obama presidency increasingly resembles a modern-day Ancien Régime: extravagant and out of touch with the American people

Lavish Obama vacation in time of economic turmoil raises eyebrows...

While president preaches sacrifice, his family frolics in Spain...The Obama’s are like college kids with a new credit card……….

Hollywood star-studded gala at lux delux hotel...MY AREN’T THEY JUST THE CATS MEOWWWWWWWWWWWWWWWWWWWWWWWWWWW WWWW.

Trip costing taxpayers $75k a day... SEVENTY FIVE THOUSAND A DAY……..MORE THAN MOST MAKE IN A YEAR.

OBAMA CHOPPERS 6 MILES -- FOR ECONOMY REMARKS... THE LITTLE BOY WITH HIS TOY. SIX MILES FOR QUARTER MILLION…….WHAT A MAN.

“Truth to Power!”

Since: Apr 07

Canton, OH

#6 Aug 9, 2010
Marine Corp Pat wrote:
Paul Krugman is Professor of Economics and International Affairs; he won the Nobel Memorial Prize in Economics in 2008, and he was voted six in a 2005 global poll of the world's top 100 intellectuals…
it is funny how his critics are the same right-wing jerks who supported Bush’s economic policies that pushed this nation’s to the edge of financial collapse.
Clueless

By Paul Krugman
NY Times
February 10, 2010, 10:59 am

I’m with Simon Johnson here: how is it possible, at this late date, for Obama to be this clueless?

http://krugman.blogs.nytimes.com/2010/02/10/c...

You were saying.... ROFL! I LOVE IT!

“Truth to Power!”

Since: Apr 07

Canton, OH

#8 Aug 9, 2010
Paul Krugman Is The Man wrote:
Paul Krugman warned that the stimulus package needed to be bigger. I feel the man would be, and IS, the best choice to sit in Obama's economic cabinet. He is sorely needed. I hope President Obama offers him the job, and I hope Mr. Krugman accepts. Obama has two years to get the country on the right economic road. He can't mess up with the wrong pick.
Clueless

By Paul Krugman
NY Times
February 10, 2010, 10:59 am

I’m with Simon Johnson here: how is it possible, at this late date, for Obama to be this clueless?

Obama sought to combat perceptions that his administration is anti-business and trumpeted the influence corporate leaders have had on his economic policies. He plans to reiterate that message when he speaks to the Business Roundtable, which represents the heads of many of the biggest U.S. companies, on Feb. 24 in Washington.

Oh. My. God.

First of all, to my knowledge, irresponsible behavior by baseball players hasn’t brought the world economy to the brink of collapse and cost millions of innocent Americans their jobs and/or houses.

And more specifically, not only has the financial industry has been bailed out with taxpayer commitments; it continues to rely on a taxpayer backstop for its stability. Don’t take it from me, take it from the rating agencies:

The planned overhaul of US financial rules prompted Standard &&# 8201;Poor’s to warn on Tuesday it might downgrade the credit ratings of Citigroup and Bank of America on concerns that the shake-up would make it less likely that the banks would be bailed out by US taxpayers if they ran into trouble again.

The point is that these bank executives are not free agents who are earning big bucks in fair competition; they run companies that are essentially wards of the state. There’s good reason to feel outraged at the growing appearance that we’re running a system of lemon socialism, in which losses are public but gains are private. And at the very least, you would think that Obama would understand the importance of acknowledging public anger over what’s happening.

But no. If the Bloomberg story is to be believed, Obama thinks his key to electoral success is to trumpet “the influence corporate leaders have had on his economic policies.”

We’re doomed.

http://krugman.blogs.nytimes.com/2010/02/10/c...

“Truth to Power!”

Since: Apr 07

Canton, OH

#9 Aug 9, 2010
Paul Krugman & Goldman Sachs Forecast? Double Dip Recession

Paul Krugman - New York Times Blog
July 17, 2010,

De Facto Double Dips

From Ed McKelvey at Goldman Sachs, which has been very good at calling recent economic trends (no link):

Real GDP growth appears to have dropped below its 2½%-3% long-term potential range last quarter, judging from the latest data on retail sales and foreign trade. We have cut our estimate for second-quarter growth
from 3% to 2%(annual rate).

This slowdown is occurring just ahead of the loss of growth support from fiscal stimulus and the inventory cycle that we have been anticipating would occur at midyear. With the various headwinds to private-sector growth (excess vacant housing, state and local budget stresses, lack of lending, reluctance to hire) still firmly in place, we reaffirm our view that real GDP will grow at only a 1½% rate during the second half of 2010, and we worry that reacceleration in 2011 will not occur as now projected.

Despite these growing downside risks, US authorities do not exhibit much urgency to apply more policy stimulus.

Let’s be clear: a recovery that involves growth so slow that unemployment and excess capacity rise, not fall, isn’t really a recovery. If we have only have 1 1/2 percent growth, that will amount to a double dip in all the senses that matter.

http://krugman.blogs.nytimes.com/2010/07/17/d...

IMPEACH THE MAGGOT!
Remember in November

Bakersfield, CA

#10 Aug 9, 2010
Paul Krugman another east coast ivy league elitist.

It is THIS group that got us into the mess we're in.

Here is a passage from a textbook called "Macroeconomics":

Public policy designed to help workers who lose their jobs can lead to structural unemployment as an unintended side effect.... In other countries, particularly in Europe, benefits are more generous and last longer. The drawback to this generosity is that it reduces a worker's incentive to quickly find a new job. Generous unemployment benefits in some European countries are widely believed to be one of the main causes of "Eurosclerosis," the persistent high unemployment that affects a number of European countries.

AUTHORS of MACROECONOMICSS: Mr. and Mrs. Paul Krugman

Americansclerosis-Obamanomics -with fellow Nobel Prize Winners who SCREW UP America.

Can one believe that Obama received the Nobel Prize?!!!

Just goes to show how UNimportant any winner of the Nobel Prize is.

The awarding of the Nobel Prize has been CHEAPEN and now holds no value.

Krugman and wife=east cost elitists who have ruined America
Tedsliver

United States

#11 Aug 9, 2010
Marine Corp Pat wrote:
Paul Krugman is Professor of Economics and International Affairs; he won the Nobel Memorial Prize in Economics in 2008, and he was voted six in a 2005 global poll of the world's top 100 intellectuals…
it is funny how his critics are the same right-wing jerks who supported Bush’s economic policies that pushed this nation’s to the edge of financial collapse.
. Paul Krugman is fake celebrity economist much like you are a fake marine. Krugman appears in movies and TV and puts out statements and theories based upon nonsense much like you Patty Cake.

“If it ain't broke don't fix it”

Since: Jul 09

Arcadia, LA.

#12 Aug 9, 2010
[QUOTE who="...he won the Nobel Memorial Prize in Economics in 2008
[/QUOTE]

Al Gore won a Nobel for creating a globull warming cult, and President Obama won one for, um, for.......

“Angry Antlers ”

Since: Sep 08

Miami

#13 Aug 9, 2010
Paul Krugman is the only one who's gotten it right, period.

Deficits are immaterial when you have suffered an economic collapse as large as this Rethuglican Caused Great Depression II.

Massive spending larger than what FDR spent during the last Rethuglican Caused Great Depression is what is needed, and Obama has failed on that score.

We need large cash infusions in infrastructure spending to put people back to work, on the lines of a WPA, CCC, and more.

Restoration of our crumbling national mounuments, roads, bridges, trains, sewers (which is where we can start Gaffing Gliberal working when his shill money runs out) electrical grids, new energy policy, etc.

Unfortunately only a band-aid was used to "jump start" this failed Bush economy, and it will prove not enough as we head down the road of more spending until we get it right.
bob

United States

#14 Aug 9, 2010
I'm guessing that Krugman and his Wreckoconomy theories will be totally discredited when all is said and done.
bob

United States

#15 Aug 9, 2010
Caribou Barbie wrote:
Paul Krugman is the only one who's gotten it right, period.
Deficits are immaterial when you have suffered an economic collapse as large as this Rethuglican Caused Great Depression II.
Massive spending larger than what FDR spent during the last Rethuglican Caused Great Depression is what is needed, and Obama has failed on that score.
We need large cash infusions in infrastructure spending to put people back to work, on the lines of a WPA, CCC, and more.
Restoration of our crumbling national mounuments, roads, bridges, trains, sewers (which is where we can start Gaffing Gliberal working when his shill money runs out) electrical grids, new energy policy, etc.
Unfortunately only a band-aid was used to "jump start" this failed Bush economy, and it will prove not enough as we head down the road of more spending until we get it right.
You really don't believe any of the diarrhea that you spew do you?
serfs up

Kissimmee, FL

#16 Aug 9, 2010
Caribou Barbie wrote:
Paul Krugman is the only one who's gotten it right, period.
Deficits are immaterial when you have suffered an economic collapse as large as this Rethuglican Caused Great Depression II.
Massive spending larger than what FDR spent during the last Rethuglican Caused Great Depression is what is needed, and Obama has failed on that score.
We need large cash infusions in infrastructure spending to put people back to work, on the lines of a WPA, CCC, and more.
Restoration of our crumbling national mounuments, roads, bridges, trains, sewers (which is where we can start Gaffing Gliberal working when his shill money runs out) electrical grids, new energy policy, etc.
Unfortunately only a band-aid was used to "jump start" this failed Bush economy, and it will prove not enough as we head down the road of more spending until we get it right.
You and your parasites will go to your graves believing that George Bush caused this. He did his part. But you better study all the laws we passed with input by both parties more to keep them in power then to do what was right. What they fear is their party getting the blame so they artificially keep this economy afloat. We must lighten the load, bring our troops home. Protect the Southern border. Reduce the salaries, pensions and benefits of government employees. Rewrite the social welfare laws, Reduce the amount of government employees and related to it. Produce a plan to get people to work by rebuilding the infrastructure of America and reduce taxes. All corruption will be met harshly. Then we start building factories here again at a pace that does not antagonize our foreign benefactors. This is a plan or at least a direction. Either way, there will be pain for our partying.

“Hillary, thirty years of lying”

Since: Nov 08

Paris

#17 Aug 9, 2010
Caribou Barbie wrote:
Paul Krugman is the only one who's gotten it right, period.
Deficits are immaterial when you have suffered an economic collapse as large as this Rethuglican Caused Great Depression II.
Massive spending larger than what FDR spent during the last Rethuglican Caused Great Depression is what is needed, and Obama has failed on that score.
We need large cash infusions in infrastructure spending to put people back to work, on the lines of a WPA, CCC, and more.
Restoration of our crumbling national mounuments, roads, bridges, trains, sewers (which is where we can start Gaffing Gliberal working when his shill money runs out) electrical grids, new energy policy, etc.
Unfortunately only a band-aid was used to "jump start" this failed Bush economy, and it will prove not enough as we head down the road of more spending until we get it right.
The Rasmussen Reports daily Presidential Tracking Poll for Monday shows that 28% of the nation's voters Strongly Approve of the way that Barack Obama is performing his role as president. Forty-three percent (43%) Strongly Disapprove, giving Obama a Presidential Approval Index rating of -15 (see trends).

Following release of last week’s jobs report, consumer and investor confidence has fallen to the lowest level of 2010. Just 21% now believe the economy is getting better, down from 30% before Friday’s report.

Fifty-five percent (55%) of voters favor repeal of the recently passed health care law. Fifty-eight percent (58%) believe it will increase the federal budget deficit.

Since: Mar 08

Allentown, PA

#18 Aug 9, 2010
Marine Corp Pat wrote:
Paul Krugman is Professor of Economics and International Affairs; he won the Nobel Memorial Prize in Economics in 2008, and he was voted six in a 2005 global poll of the world's top 100 intellectuals…
it is funny how his critics are the same right-wing jerks who supported Bush’s economic policies that pushed this nation’s to the edge of financial collapse.
Barack Obama has proven a Harvard degree isn't worth as much as it used to be.
.
The Democrats cheerfully rode shotgun on many Bush policies. Try reading history. Popeye, less Krugman, more reality please.
.
Are you PooPoo Platter's old weird uncle?
Chill Out

West Sacramento, CA

#19 Aug 9, 2010
Paul Krugman Is The Man wrote:
Paul Krugman warned that the stimulus package needed to be bigger. I feel the man would be, and IS, the best choice to sit in Obama's economic cabinet. He is sorely needed. I hope President Obama offers him the job, and I hope Mr. Krugman accepts. Obama has two years to get the country on the right economic road. He can't mess up with the wrong pick.
I like some of Krugman's ideas and views, but not all. He has moments of brilliant insight but his ego counts those moments as hours. He lost me when he pushed for Obama to complete what Bush started, i.e. nationalize US banks. I'm guessing ideas like that are why he isn't on the president's economic team or likely to be invited to join.
Cranky Old Man

United States

#21 Aug 9, 2010
Krugman is like most inbreds lacking the genes for mental development. He proclaims himself as an economic expert but he apparently never bothered to learn from history. He fits perfectly as one of Obama's advisors.
Chill Out

West Sacramento, CA

#22 Aug 9, 2010
Le Jimbo wrote:
<quoted text>The Rasmussen Reports daily Presidential Tracking Poll for Monday shows that 28% of the nation's voters Strongly Approve of the way that Barack Obama is performing his role as president. Forty-three percent (43%) Strongly Disapprove, giving Obama a Presidential Approval Index rating of -15 (see trends).
Following release of last week’s jobs report, consumer and investor confidence has fallen to the lowest level of 2010. Just 21% now believe the economy is getting better, down from 30% before Friday’s report.
Fifty-five percent (55%) of voters favor repeal of the recently passed health care law. Fifty-eight percent (58%) believe it will increase the federal budget deficit.
Rasmussen's methodology of computerized robo calling of 300 answering machines per day and calling that "polling" has serious credibility issues, bubba. Rasmussen is to polling what the National Enquirer is to journalism.

If you really want to know current public opinions on issues and people, browse Polling Report at http://www.pollingreport.com/

Watch The Ed Show

Oscoda, MI

#23 Aug 9, 2010
See, Republicans are SCARED of Krugman. They know he can really help fix the economy. Their biggest fear! Obama needs to quit listening to half-ideas of how to jump start everything. He needs to selvage his clout and bring a BIG name and brains onboard. He's got two years left, and the man can't fiddle around now wasting time.

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