[Video] Paul Krugman Suggests A Space Alien Economy?

[USAFCapt]

"...if you could employ people to dig a ditch and then fill it up again, that's fine, they're being productively employed, they'll pay taxes, so maybe Boston's Big Dig was just fine after all."

http://globalpublicsquare.blogs.cnn.com/category/gps-episodes/

[Immortal Technique]

http://www.youtube.com/watch?v=zFEmlgfEGYo

Airing Date Aug.14, 2011

Paul Krugman Suggests A Space Alien Economy?

[nemt4paul]

Paul Krugman is the biggest idiot I've ever heard speak.

[Yieu]

Paul Krugman Suggests A Space Alien Economy?

If Krugman is suggesting it, there could already be a plan for such a thing. Doesn't mean it will be used, but it could be a plan. Weird.

[heavenlyboy34]

Paul Krugman is the biggest idiot I've ever heard speak.
+1 He's good for lolz, though. :)

[fearthereaperx]

Paul Krugman is the biggest idiot I've ever heard speak.

Strangely enough, He's actually right about this.

[pcosmar]

Wait a sec.
this was moved,,,to ,,,here.

Ghhaaaa!
That is almost as ridiculous as this idiot talking.
Why do people listen to this guy?

[Cutlerzzz]

Strangely enough, He's actually right about this.

Well, had he said something like "If aliens came to Earth, established trade with us, and shared their technology, the recession would be over in 18 months" then he would have been correct.

Instead, he basicially said (taking this from Peter Schiff) that we would be better off if the government were to decide to build a fleet full of thousands of ships and building through the following measures; forcing everyone to work 70 hours a week for almost no money, creating food and oil shortages, preventing anyone from buying anything other than government bonds, deporting 10% of our workforce, forcing children and the elderly to work in factories, borrowing ten trillions dollars to build it, and ultimately sinking the fleet for no real reason.

[couvi]

He's not right. He is suggesting that it would be helpful to have an "alien defense" bubble; no different, logically, than the housing bubble which he promoted. The whole problem is that "alien defense" is not what people value in the long term. After the aliens are adequately defended against, the "alien defense" is no longer needed. All of the resources which went into building and maintaining alien defense must be reallocated (the bubble bursts). But, no fear, according to Krugman we can just keep creating bubbles. Krugman seems to think, simply, that the movement of resources is what is good for the economy. He can't see beyond his statistics and equations. He refuses to consider the long-term consequences of funneling resources to a bad or unsustainable place. This, really, is the view of someone who has a hard time with the logical thought process.

It is absolutely sickening that he has credibility.

[NewRightLibertarian]

I guess this is how you act when everything you hold dear is going bankrupt and falling to pieces.

[JoshLowry]

"...if you could employ people to dig a ditch and then fill it up again, that's fine, they're being productively employed, they'll pay taxes, so maybe Boston's Big Dig was just fine after all."

Give them spoons to dig. We can employ more people this way.

[pcosmar]

Good time for this,,,


http://www.youtube.com/watch?v=3iB8ugAgA2E

[ClayTrainor]

I like how the other Economist was being completely reasonable in his critique of "digging ditches to stimulate the economy" and Krugman ends with "I don't agree with that" lol.

Amazing, Amazing.

[Cutlerzzz]

Give them spoons to dig. We can employ more people this way.

The spoons should be made of Gold. They'll cost most, benefiting the economy by increasing consumption.

[Yieu]

The spoons should be made of Gold. They'll cost most, benefiting the economy by increasing consumption.

They don't need to be made of gold. Just make them out of zinc, and buy them at the cost of gold.

[wannaberocker]

Sometimes i wonder if Krugman just says such thngs so people at Ron Paul Forum will make threads about him. As soon as he sees that no one is discussing Krugman, he says something stupid, just to get a new topic dedicated to himself.

[Cutlerzzz]

They don't need to be made of gold. Just make them out of zinc, and buy them at the cost of gold.

Good point. They could even buy spoons made of zinc and pay the same price they would for gold, and buy spoons made of actual gold and not use them. That would be double the spending.

[messana]

Make them out of paper and flimsy sticks so more people will be employed replacing them.

[ClayTrainor]

http://content.screencast.com/users/CharlieTango/folders/Jing/media/18217fa3-d330-4dd4-ba45-fc53bdaa5e39/2011-08-15_0114.png

[Yieu]

Krugmeme IMG

Good one!

[headhawg7]

Paul Krugman is the biggest idiot I've ever heard speak.

This guy would be a close second


http://www.youtube.com/watch?v=AqQe4KOrvsM

[amonasro]

So according to The Kurgan, with an environment of inflation and an expansionist policy by the Fed, we could "accomplish a great deal"?

How much have we accomplished in the last two years?

[ClayTrainor]

So according to The Kurgan, with an environment of inflation and an expansionist policy by the Fed, we could "accomplish a great deal"?

How much have we accomplished in the last two years?

http://images.memegenerator.net/instances/500x/9390566.jpg

[Cutlerzzz]

So according to The Kurgan, with an environment of inflation and an expansionist policy by the Fed, we could "accomplish a great deal"?

How much have we accomplished in the last two years?

According to Krugman, there has been no inflation.

[foofighter20x]

http://images.memegenerator.net/instances/500x/9390975.jpg

[Diurdi]

Strangely enough, He's actually right about this. He's totally wrong. The average person does not benefit from a huge reserve of armaments designed to destroy fictional aliens. The average person benefits from production that he demands.

[Brooklyn Red Leg]

The average person does not benefit from a huge reserve of armaments designed to destroy fictional aliens.

Indeed. The average person would only be on the receiving end of whatever the Aliens threw at humanity. Besides, Krugman stole this whole idea from the classic 80s anime Robotech anyway. :D

[fearthereaperx]

He's totally wrong. The average person does not benefit from a huge reserve of armaments designed to destroy fictional aliens. The average person benefits from production that he demands.

I was refferring to pumping up GDP figures and hauling us out of a depressed economy, but, yes, the long-term liabilities will come back to haunt us

[Kludge]

Paul Krugman wrote a theory of Interstellar Trade. http://www.ronpaulforums.com/showthread.php?278760-Paul-Krugman-Theory-of-Interstellar-Trade-(pdf)

He may really be banking on aliens to save the US economy.

[fatjohn]

I was refferring to pumping up GDP figures and hauling us out of a depressed economy, but, yes, the long-term liabilities will come back to haunt us

Your definition of depression is wrong. Your definition is about gdp numbers and how many people have work. Not the degree to which people can acquire the goods and services that they want with the fruits of their labor. Under normal circumstances the two go hand in hand and since only the gdp and work numbers are actually measurable, the former is widely accepted to provide an indication of the state of the economy. However, nobody will want to buy a space alien killing laser when they are hungry and when there are no actual aliens around to kill. But yeah there will be a bunch of lasers at low prices alright. Food prices and everything else prices would skyrocket. Everyone will have a job but no one will be able to afford anything but lasers.

A good economy is one where a large majority of the population can buy the goods and services they want. Not one that has a high GDP where the production and consumptions of lasers account for ninety percent of that. Keynes misidentified the problem. This is why Keynes and Krugman are wrong and Hayek and Paul are right.

[Kludge]

Your definition of depression is wrong. Your definition is about gdp numbers and how many people have work. Not the degree to which people can acquire the goods and services that they want with the fruits of their labor. Under normal circumstances the two go hand in hand and since only the gdp and work numbers are actually measurable, the former is widely accepted to provide an indication of the state of the economy. However, nobody will want to buy a space alien killing laser when they are hungry and when there are no actual aliens around to kill. But yeah there will be a bunch of lasers at low prices alright. Food prices and everything else prices would skyrocket. Everyone will have a job but no one will be able to afford anything but lasers.

A good economy is one where a large majority of the population can buy the goods and services they want. Not one that has a high GDP where the production and consumptions of lasers account for ninety percent of that. Keynes misidentified the problem. This is why Keynes and Krugman are wrong and Hayek and Paul are right.
Wrong and right are relative as you frame it. GDP indicates tax revenue potential for the gov't to sustain itself. CPI + avg. take-home income only indicates potential for citizens to sustain themselves.

Sure, inflating laser production will lead to famines, but that would only affect citizens who currently average above the income necessary to survive with no luxuries, as gov't production can only be done to drain citizens of wealth to give government. Eventually, essential production will need to increase, but why not let gov't drain citizens as much as they can while they experience cash-flow difficulties?

Don't forget -- citizens are expendable, but an intrusive government is necessary for citizens to exist as anything but short-lived brutes.

[buck000]

Here's the comment from a work colleague in response to my informing him of Krugman and his Alien idea.



Actually, Krugman has been a lot more correct than just about anyone else about what's been going on in the last several years. I think if the administration had actually listened to him, we'd all be a lot better off now than we currently are.


sigh

I responded with a YouTube video showing someone in Congress who's a slightly more accurate predictor of future events. ;)

[Yieu]

I responded with a YouTube video showing someone in Congress who's a slightly more accurate predictor of future events. ;)

Let me guess... it was this one? http://www.youtube.com/watch?v=pvlUx5ECD2w

[wannaberocker]

Here's the comment from a work colleague in response to my informing him of Krugman and his Alien idea.



sigh

I responded with a YouTube video showing someone in Congress who's a slightly more accurate predictor of future events. ;)

A guy on Youtube said the exact same thing your colleague said to you. Are all these Krugman lovers developing world wide talking points to share with each other? Lol how is that possible that 2 different people say the exact thing about krugman being right.

By the way the guy on youtube went on to argue that if the stimulus was 1.2 trillion then we would be out of the slump. He also went on to say that the depression was extended because the right wingers wanted t cut spending. Of course i think he got that one from the false report on MSNBC by Rachel Maddow couple of week ago. These leftist are so predictable.