Paul Krugman

Beware The "Crisis Actors" - Goring, Erdogan, Krugman, Cramer, Draghi, Yellen

Crisis acting isn’t found in the secret construction of a crime scene. It’s found in the public construction of a social Narrative. It’s found in the public statements of the Missionaries (to use the game theory term) who create Common Knowledge — what everyone knows that everyone knows...Janet Yellen and Mario Draghi and their central bank Missionary kin are also crisis actors, pretending that their “emergency policies”, now more than seven years old, are anything less than a permanent political shift in the global allocation of money and credit.

Michael Hudson Exposes 2016's Real 'Class War': Krugman's Neocon Neoliberalism Vs Trump's Righteous Populism

"So this is really the class war. And it's the class war of Wall Street and the corporate sector of the Democratic side against Trump on the populist side...Krugman has joined the ranks of the neocons, as well as the neoliberals, and they're terrified that they're losing control of the Republican Party. For the last half-century the Republican Party has been pro-Cold War, corporatist. And Trump has actually, is reversing that. Reversing the whole traditional platform. And that really worries the neocons..."

"The World's Central Banks Are Making A Big Mistake"

Debt is future consumption brought forward. Once debt is incurred, consumption that might have happened in the future won’t happen. And it should come as no surprise that at a certain debt level, growth and income begin to diminish. That is exactly what we are seeing in the real world.

Weekend Reading: If I Was Janet Yellen

Unfortunately, for Janet, this is the 'trap'. The liquidity will dry up, the inventory restocking cycle will end, and the next “crisis” will be on the horizon with Ms. Yellen remaining stuck near the “zero bound.”  The past opportunities to “normalize” interest rate policy have come and gone. This opportunity will likely pass also and, as always, the Fed will realize far too late they are trapped. But by then, it won’t matter much to investors, or what’s left of them, anyway.

Krushing Krugman? Lacy Hunt On The Negative Multiplier Of Government Debt

The trap is listening to Keynesian economists like Krugman because doing so only digs deeper and deeper debt holes. The real solution is a writedown of unproductive debt, not increased fiscal stimulus. Instead central banks attempt to cram more and more debt into a system clearly overloaded with debt.

Fascism: A Bipartisan Affliction

If neoconservatives and progressives truly understood fascism, they would stop using the word as a smear term. That is because both groups, along with most political figures and commentators, embrace fascist ideas and policies.

Keynesian Triumph: Americans Are Broke

So here we are. After decades of what essentially could be called a new “Industrial Revolution” with the advent of computers and the internet, the US government has managed through its monetary authorities and through its other policies to decimate savings and leave millions of Americans financially vulnerable. It has been no accident.