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Archive for the category “Paul Krugman”

The Big Fail (of Keynesian Economics)

An image of Paul Krugman practicing Keynesian economics

Paul Krugman practicing his Keynesian economics…

In a recent (Jan. 6) NY Times column, The Big Fail, the esteemed Dr. Krugman suggests that a “triumph of bad ideas” is responsible for our failure to emerge from “the great slump.” And the bad idea in question? You guessed it: not spending hard enough. Apparently, my Dad never afforded Dr. Krugman his special brand of fatherly wisdom concerning stupid behavior of any sort: “Son, [stupid behavior X] is like hitting yourself on the head with a hammer – it feels great when you quit.” Unfortunately, we seem to be trading in the Keynesian hammer for an even more repulsive hammer – European-style fiscal austerity. Read more…

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Fiscal Free Falling with Paul Krugman

Obama free fall deficit spending

Deficit spending, Obama-style (with apologies to Michael Ramirez)

On the night before Christmas, Paul Krugman sent a present to all the high spending elves of Congress: When Prophecy Fails. Dr. Krugman would have us believe that those who oppose unrestrained deficit spending are unhinged “cultists.” He make this charge on the curious basis that the economy has not crashed as a result of unfettered federal deficits and mountainous federal debt (at least, not yet). Read more…

The Con at the Core of Class Warfare

Yep, Paul Krugman, that worthy of the NY Times, is at it again. In “The Con at the Core of the GOP’s Strategy,” Dr. Krugman suggests Republican posturing on the federal debt and deficit is a con game. Perhaps so, but it’s not the only con game in town, nor even the best. Consider the following gem:

“We are proposing to let those rates [for the rich] go back to Clinton levels. Remember, that was a time of remarkably good economic growth, in this country – very strong private investment, strong job growth, strong broad-based growth in incomes. It was a good time for the American economy. It makes a lot of sense.”
-Treasury Secretary Tim Geithner, Fox News Sunday, 12/2/12

Naturally, Chris Wallace didn’t follow up with the obvious riposte: If higher tax rates generate such economic bounty, why not return to the Clinton tax hike rates for all?

Read more…

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