Paul Krugman on Rachel Maddow Show 12.22.10

[Liberty_Mike]

Paul Krugman appeared on the Rachel Maddow show yesterday. The more and more he talks, the more it makes one wonder how on Earth this guy won the Nobel Prize in Economics last year! Some brilliant things Krugman said in this interview include: we cannot afford more tax cuts in 2011, we need a lot more stimulus, conservative economics have been driven into silence due to being wrong (WTF???), etc.

By the way, please give this video a thumbs down and leave a comment if you get the chance. The owner of this channel blocked me from leaving comments a while ago after I left a comment refuting everything Ed Schutlz said in one of his clips.

http://www.youtube.com/watch?v=7YiyjO3y3WA

[lester1/2jr]

I can't imagine these shows are going to be on much longer. The left refuses to acknowledge what's going on. It's sad.

[teacherone]

crude oil above $90.

U6 unemployment at 18%.

are these fools for real?

[Feeding the Abscess]

Dick Cheney: Deficits don't matter

Paul Krugman: Deficits don't matter

[Liberty_Mike]

Dick Cheney: Deficits don't matter

Paul Krugman: Deficits don't matter


Nice! As I said in my original post, it is comments like that that completely stump me as to how Krguman won the Nobel Prize..

[Romulus]

Obama won a Nobel Peace prize.

The whole thing is a sham, packaged for fools to believe in such absurd accreditations.

[Travlyr]

More right/left paradigm promotion. It would be embarrassing to be part of that audience of ignorance.

[Liberty_Mike]

more right/left paradigm promotion. it would be embarrassing to be part of that audience of ignorance.

lmfao!

[paulitics]

I've noticed that the left is very adept at brainwashing through positive reinforcement. Instead of a piece of cheese, they get their egos massaged by some perception of an authority figure. "Aww, aren't you smart for figuring it out. Aww, you agree with a nobel peace prize genius, and you figured it all by yourself." I think that is how to fool a liberal into doing anything. Make them think that they are smarter than the general populace just for listening to them. This shuts down all critical thinking, without the subject realizing it.

[HOLLYWOOD]

Obama won a Nobel Peace prize.

The whole thing is a sham, packaged for fools to believe in such absurd accreditations.

You better believe it's a sham... 48-72 hours after Obama took the oath of office, he approved Air strikes and Predator strikes in Afghanistan AND Pakistan's North Waziristan region, killing innocent civilians and children. 4 weeks later he extends the US troop deployments in Iraq (Another Failed Campaign promise), then he states COMBAT vs NON COMBAT troops with an extension of 50,000 remaining in Iraq extended through Dec 2011.

9 Days after approving bombings on Afghans and Pakistanis, Obama receives the Nobel Peace Prize award out of the 205 nominees.

Frigin Circus we live in these days...

[jtstellar]

"i have nobel prize and therefore everything i say must be right"

great induction reasoning on krugman's part

he can't even use the correct method of scientific deduction

what a steal for this "academic" prize

[Sentient Void]

gave it a thumbs down

[mtj458]

He won the Nobel Prize for his work on international trade and I'd bet most of the people here would agree with much of his thinking on the subject if they actually read it.

His problem is he comments on macroeconomic issues which have little to do with the subject that he actually is an expert in. Economists focus on a narrow branch of economics so they're never experts in economics as a whole.

[Liberty_Mike]

He won the Nobel Prize for his work on international trade and I'd bet most of the people here would agree with much of his thinking on the subject if they actually read it.
His problem is he comments on macroeconomic issues which have little to do with the subject that he actually is an expert in. Economists focus on a narrow branch of economics so they're never experts in economics as a whole.

Care to share anything?

[lester1/2jr]

http://nobelprize.org/nobel_prizes/economics/laureates/2008/info.pdf

it's an effort to explain why countries who seem to have the same advantages trade with each other.

Basically, people enjoy diversity so countries can focus on making one thing in great numbers and exporting it instead of trying to provide the diversity themselves.

So, you can be a country singer and listen to rap music instead of trying to make and perform your own rap songs. not a great anaolgy but you get the idea. So two different talented people who are both professional music entertainers can not only sell to people who are not artists themselves but to each other.

It's not just that people in the south can grow oranges and people in the north can make maple syrup. People in the south can buy other types of fruit from other people in the south while focusing on their own trademark, special oranges or whatever.


He goes on to say that if two countries have everything the same except one country has a higher population, the country wth the higher population will be better off due to the fact that their factory will more people and be able to use the size to their advantage via economies of scale.

Both of these ideas seem really contrary to the stuff Krugman talks about. The latter is a refutation of Malthus who was the main proto keynesian guy.

[PatriotOne]

Paul Krugman appeared on the Rachel Maddow show yesterday. The more and more he talks, the more it makes one wonder how on Earth this guy won the Nobel Prize in Economics last year!
http://www.youtube.com/watch?v=7YiyjO3y3WA

Because the monetary system he glorifies serves those giving out the prizes quite well. The sytem is not meant to be good for the plebs. That should be quite obvious by now.

[lester1/2jr]

I'd recommend people read the above pdf it's only like 4 pages long.

[Austrian Econ Disciple]

So, Krugman basically received a Nobel Prize for regurgitating basic economic fact that was well established even 125 years ago -- namely Division of Labor. Wow, they must be really hurting. What a joke.

It would be fun to see them actually reward scholars who increase our understanding of economics...then again, that really isn't their purpose.

[jclay2]

This guy is such a clown. How people take this guy seriously is beyond me. I love how he gets so upset about not passing a 50-70 billion dollar tax increase and then says nothing about our 1.5 trillion dollar budget. What a joke.

[Liberty_Mike]

I'd recommend people read the above pdf it's only like 4 pages long.

Thanks for sharing the above link. I will read it this afternoon.

[No1ButPaul08]

I saw the promo piece for this interview. Rachel said she was doing a show on the economy and wanted to get someone who got it right, like NOBEL PRIZE winner Paul Krugman.

[Liberty_Mike]

I saw the promo piece for this interview. Rachel said she was doing a show on the economy and wanted to get someone who got it right, like NOBEL PRIZE winner Paul Krugman.

The same Paul Krugman who wrote the semi-famous op-ed in the NY Times in 2009 collapse titled "How Did Economists Get It So Wrong"??

http://www.nytimes.com/2009/09/06/magazine/06Economic-t.html

[roho76]

What's funny is these asshats praise printing money so much yet they go on to bitch about lowering taxes. Well if we can just print our way to prosperity, and deficits don't matter, then what difference does the tax rate matter. Just keep printing Paul. They negate their own argument with their own faulty logic.