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Paul Krugman "What Ails The World Right Now Is That Governments Aren’t Deep Enough In Debt"
This was written by a Nobel prize winning economist without a trace or sarcasm, irony or humor. It is excerpted, and presented without commentary.
From the NYT:
Debt Is Good
... the point simply that public debt isn’t as bad as legend has it? Or can government debt actually be a good thing?
Believe it or not, many economists argue that the economy needs a sufficient amount of public debt out there to function well. And how much is sufficient? Maybe more than we currently have. That is, there’s a reasonable argument to be made that part of what ails the world economy right now is that governments aren’t deep enough in debt.
I know that may sound crazy. After all, we’ve spent much of the past five or six years in a state of fiscal panic, with all the Very Serious People declaring that we must slash deficits and reduce debt now now now or we’ll turn into Greece, Greece I tell you.
But the power of the deficit scolds was always a triumph of ideology over evidence, and a growing number of genuinely serious people — most recently Narayana Kocherlakota, the departing president of the Minneapolis Fed — are making the case that we need more, not less, government debt.
Why?
One answer is that issuing debt is a way to pay for useful things, and we should do more of that when the price is right. The United States suffers from obvious deficiencies in roads, rails, water systems and more; meanwhile, the federal government can borrow at historically low interest rates. So this is a very good time to be borrowing and investing in the future, and a very bad time for what has actually happened: an unprecedented decline in public construction spending adjusted for population growth and inflation.
Beyond that, those very low interest rates are telling us something about what markets want. I’ve already mentioned that having at least some government debt outstanding helps the economy function better. How so? The answer, according to M.I.T.’s Ricardo Caballero and others, is that the debt of stable, reliable governments provides “safe assets” that help investors manage risks, make transactions easier and avoid a destructive scramble for cash.
* * *
[L]ow interest rates, Mr. Kocherlakota declares, are a problem. When interest rates on government debt are very low even when the economy is strong, there’s not much room to cut them when the economy is weak, making it much harder to fight recessions. There may also be consequences for financial stability: Very low returns on safe assets may push investors into too much risk-taking — or for that matter encourage another round of destructive Wall Street hocus-pocus.
What can be done? Simply raising interest rates, as some financial types keep demanding (with an eye on their own bottom lines), would undermine our still-fragile recovery. What we need are policies that would permit higher rates in good times without causing a slump. And one such policy, Mr. Kocherlakota argues, would be targeting a higher level of debt.
* * *
Now, in principle the private sector can also create safe assets, such as deposits in banks that are universally perceived as sound....
* * *
* * *
At this point we stopped reading.
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Paul Krugman is a KKK member.
KikeKocksuckingKlan?
Paul Krugman is no idiot. Zero Hedgers are right to be alarmed by government debt, it's not something to be taken lightly and I'm not making light of it, but there are much greater problems facing our economy than the government debt. Consumer debt and deflation are crippling the economy. Austerity makes the problem much worse. The government did it all wrong, they spent lavishly on their cronie friends while forcing everyone else to go on a harsh diet of austerity, resultig in a massive asset bubble for the rich 1% while the middle class is circling the drain in a deflationary implosion brought on by austerity. Yes, there is too much government spending, the wrong kind, the kind that ends up crushing economies and there is also too little government spending where it's badly needed. I realize it's hard for most of you to believe the government should really be taking on more debt but that is exactly what they should be doing. The government won't do the right thing. It will spend more on their cronies and tighten the austerity belt on everyone else creating more deflation, destroying the economy further. Austerity sounds like a good idea, it sounds moral, seems right but in the real world it rarely works, it destroys economies.
I wonder how does he get paid by GS, per article, minute or gobbled sperm liters. An invitation to debt is an invitation to banks to feast on the corpses of middle class. Let's see how does this play out. Government sells more treasuries to the fed (which pays out 6% on income to founder banks flat) which loans them to founder banks at 0% who loan out 10-30 times at 3-30% reciving interest on all debt acrued + the all debt outside of the orginal value of treasuries. In the meantime any effect to the real economy is temporory until the debt needs to be serviced with 10, 20, 30, 40% of state income. In some Krugmans future debt servicing goes to over 100% meaning that the government needs to borrow to service each coupon payment leading an exponantial growth in debt (more than even today).
http://www.biblebelievers.org.au/repute.htm
How humiliating for the NY Times that they are still affiliated with this idiot
dude, get real, its the NYT. they feel no shame at anything. but we can pray their revenues are in the shitter like most other legacy media.
Quote the Keynesian: lever some more!
Krugie strikes again!
Oh my my, oh Hell yes, Christine put on that party dress!
some Petty...
MENCKEN, H. L. 20th century American writer. "The Jews could be put down very plausibly as the most unpleasant race ever heard of. As commonly encountered they lack any of the qualities that mark the civilized man: courage, dignity, incorruptibility, ease, confidence. They have vanity without pride, voluptuousness without taste, and learning without wisdom. Their fortitude, such as it is, is wasted upon puerile objects, and their charity is mainly a form of display." (Treatise on the Gods) The fact that what are commonly spoken of as rights are often really privileges is demonstrated in the case of the Jews. They resent bitterly their exclusion from certain hotels, resorts and other places of gathering, and make determined efforts to horn in. But the moment any considerable number of them horns in, the attractions of the place diminish, and the more pushful Jews turn to one where they are still nicht gewuenscht . . . ("not wanted.") "I am one of the few Goyim who have ever actually tackled the TALMUD. I suppose you now expect me to add that it is a profound and noble work, worthy of hard study by all other GOYIM. Unhappily, my report must differ from this expectation. It seems to me, save for a few bright spots, to be quite indistinguishable from rubbish . . ."
"The Jewish theory that the GOYIM envy the superior ability of the Jews is not borne out by the facts. Most GOYIM, in fact, deny that the Jew is superior, and point in evidence to his failure to take the first prizes: he has to be content with the seconds. No Jewish composer has ever come within miles of Bach, Beethoven and Brahms; no Jew has ever challenged the top-flight painters of the world, and no Jewish scientist has equaled Newton, Darwin, Pasteur or Mendel. In the latter bracket such apparent exception as Ehrlich, Freud and Einstein are only apparent. Ehrlich, in fact, contributed less to biochemical fact than to biochemical theory, and most of his theory was dubious. Freud was nine-tenths quack, and there is sound reason for believing that even Einstein will not hold up: in the long run his curved space may be classed with the psychosomatic bumps of Gall and Spurzheim. But whether this inferiority of the Jew is real or only a delusion, it must be manifest that it is generally accepted. The GOY does not, in fact, believe that the Jew is better than the non-Jew; the most he will admit is that the Jew is smarter at achieving worldly success. But this he ascribes to sharp practices, not to superior ability." (Minority Report: H. L. Mencken's Notebooks)
SHAW, GEORGE BERNARD. 20th century British dramatist. "This is the real enemy, the invader from the East, the Druze, the ruffian, the oriental parasite; in a word: the Jew. (London Morning Post, December 3, 1925) This craving for bouquets by Jews is a symptom of racial degeneration. The Jews are worse than my own people. Those Jews who still want to be the chosen race (chosen by the late Lord Balfour) can go to Palestine and stew in their own juice. The rest had better stop being Jews and start being human beings. (Literary Digest, October 12, 1932)
this is DoucheBoy operating under another alias
same hyper-frustrated bitter islamic-cult worshiping arab vermin scum who can't get over having been defeated by the superior israelis EVERY TIME
why don't you do something useful - become a martyr - behead yourself !
How many days in jail would you spend to punch this fucker in the face. I would probably go as high as 3 days if there were no civial penalities.
I'll do 3 days but only for a ground and pound followed by a rear naked choke.
PS: all you need to know is the guy is holding a fucking cat. a cat.
Maybe we ZH readers can set up a bail-funding pool for such a hero.
I'll do it for free and cover the costs
"Beyond that, those very low interest rates are telling us something about what markets want."
I nearly had an aneurysm when I read that. Does Kruggy even know what a "market" is?
I've been an advocate of permanent zero interest rates along with abolishing The Fed.No more usary.Let Treasury handle it.All debt to The Fed would be wiped clean and any interest from credit cards etc. declared illegal.It would include getting rid of Income Tax(The War Tax) and going with a Value Added Tax economy.That also includes no Capital Gains Taxes.I'd take an axe to every level of Government,wiping out whole Departments and just keeping minimum staffing levels,everything else should be contracted out to the private sector and the minimum staffing levels should only be oversight roles.The economy would be reset that way under a new Gold Standard with Gold being set high enough to reflect all the fiat paper outstanding.Finally all pensions to politicians at every level cancelled.All elected politicians at every level of Government would not be paid.Only volunteers from the community that are elected would have their expenses paid only.The whole point is that everybody reading this knows that there is at least 30% waste in any Government.City,County,State,Federal,it doesn't matter,these are all cancerous tumours that need the life-giving bloodflow cut-off from them.Enough of G.D. imported US Socialism,we've been warned about it from the Founding Fathers.
"Wait! I just thought of something else.
I've got an even BETTER idea!"
Paul Krugman made a pretty good call predicting the biggest housing bust in history. Pretty good for an "idiot". Maybe we could at least try to entertain opinions different than our own? Maybe he's actually right about spending? Around 95% of you think Krugman is wrong. Nearly everyone I ever talk to in the financial industry, stock brokers, retailers etc. say the same thing. Krugman is wrong, stupid etc. Experience has taught me the crowd is usually wrong but never admits it and never does their due dilligence studying the matter closely before reaching a conclusion. There are few things in economics more certain than the destructiveness of austerity. You might as well dismiss Newtonian physics. Ben Bernanke is someone much more richly deserving derision and contempt. Why everyone gangs up on Paul Krugman is beyond me, it makes no sense.
https://www.youtube.com/watch?v=qo4ExWEAl_k
u r stupid, beyond repair
"Experience has taught me the crowd is usually wrong." --Schroedingers Cat
Paul Krugman IS the crowd, yo. The NYT is a prime shaper of the status quo, and its only purpose is to profit from the production of "information" that ensures the governed will continue to consent to whatever plans, programs, and policies the ruling class want to initiate. Looks like they didn't have to work very hard to secure your consent.
Hey Schroedingers Cat, it's understandable that you prefer to gather with your fellow sheeple and baa-aa-aah for your daily blue pill ration... Life is more comfortable when you don't question corporate mainstream media mouthpieces like Krugman. Dose up.
Everyone who argues for "paying back the debt" doesn't have a good enough understanding of the current financial system and how it works. Watch this: https://m.youtube.com/watch?v=iFDe5kUUyT0
are krugman and his fellows serving to deliver
the "americas" and peoples as slaves to the east/west
global elite?
is he merely an auctioneer for we the future
indentured servants?
or,
does he fully embrace the monetary system as
some kind of prophetic gift from god, truth?
.
who would know such things and increasingly,
who cares?
.
there are fundamental flaws in the program my
friends and i know i ain't sayin' nuthin' new.
.
be well in change.
.
links, links ......
ah, forget it. it has all been encoded in your
mind and body ...
anyway ^tm
If you can't pay off this amount of debt, you might as well not be able to pay off double that amount of debt.
Paul Krugman is a sick Keynesian joke.
When every economic problem in the word is a nail, Krugman must be the keynesian hammer looking for a solution.
Prime example of of egomania canceling any traces of common sense.
Well....on the upside, I have now read the dumbest damned thing I will read all day (hopefully) So I got that out of the way.
My handle is my comment . . .
What ails the world is too few operating guillotines.
Zion is a scheme, not an ethnicity.
"Krugman! Krugman! Your guillotine is ready. Party of one."
"Paging Mr. Krugman. Mr. P.W. Krugman."
Fucking should be holding a snake not a cat.
Lol Krugman playing with his pussy
Krugman's trivializing language choices always astound me. To argue that anyone expressing concern over chaining our children to eternal millstones of debt is a "deficit scold" literally gives me chills.
From Krugman's point of view, that bank line just isn't long enough! Watch, they'll give him another Nobel prize, LOL.
"..the debt of stable, reliable governments provides “safe assets” that help investors manage risks, make transactions easier and avoid a destructive scramble for cash."
Well except for this necessary ingredient in the mix, Krugman may have a point. Nah...
Krugman, number 1 at spektre
That clown is the best cheerleader an out-of-control spending government could ever wish to have.
Hey William, can we get one of Krugman in a cheerleader outfit??? Any pose will do.
thats why they gave him the Nobel prize for gov cheeerleeders
"invest in the future".... yeah, the future of "Just Us" and their minons.
So according to Kurgman, government spending provides useful things, therefore more government spending gives us more good things.
I bet he has not invested his own money into a welfare state, the return in investment is close to zero, despite every centrally planed economy turning into a disaster this clown is still cheering on central planning.
But Japan, Paul...
http://olduvai.ca
This scumbag Krugman should be hung by his you know what. There is zero possibility whatsoever this piece of stinking slime is not intentionally trying to make the entire population of earth abject slaves forever. NONE.
What non-ZH readers don't know is: fiat money === debt.
While regular humans might foolishly but plausibly imagine something like "printing more money might make the economy better", they do so because they don't realize "printing money" is not "printing money", it is "creating debt". Debt that THEY are expected to pay back. But they can't pay it back... ever... because debt is always much greater than the total quantity of so-called "money" to pay the debt back. And the only way to get more money to pay back the existing debt is for those central bankster predators to create more "money" == "debt"... which only raises the debt further.
But Paul Krugman knows all this. And so he is necessarily evil incarnate.
It sounds like rate hike and QE4, maybe not at the same time, but soon enough. The can being kicked down the road each year has turned into a child from the future.
Paul Krugman... Rodeo clown for the Elites and a 1st class Ass Hat...
Love to see him in an ISIS video sometime.
Why does it have to be debt? Why does money created out of thin air need to be paid back? Why can't they write off the debts of regular Americans or give the money directly to them? Bailouts are for the wealthy and debt is for the suckers.
Think about it, they can do it but what does it mean? They can only do it by printing more money. So if whole world know what is going to happen what everyone do? Dump dollar and cause hyperinflation. It is not even same as QE because there there were limits, world knew how much they going to print and priced it in. But when there are no boundaries and they just create money whenever needed thats a endgame. Psychologically nobody would trust that currency not even its beneficiaries.
someone gets the interest payment. maybe it is a conflict if interest...notice the pun
One of the things he never seem to figure out is that it was during the "good times" debt increased. So if you cant repay and lower it during good periods then there is technically no other time period ever to do so. And if there is "never", then it is mathematically sure that at certain point something have to give. So his system is basically "grow debt > bubble > default(or Zimbabwe) > rinse repeat".
Perfect retort! Exactly! Any suggestion that we should load up on debt now while rates are (artificially) low absent a plausible scenario on how it will be repaid is, well, assinine! I don't care how many Nobels you have - it's just a stupid idea!
Yes, government borrowing and spending can buy you some level of mitigation in an economic downturn, but if you aren't using the time it buys you to make your economy more productive and competitive, well, there really is no other way to put it - you are on the road to becoming exactly like Greece (because that is exactly what they did - borrowed and spent while continuing to make their economy less competitive).
I just don't understand how this guy has such credibility?! Am I missing something?
"Credibility" in such matters is given by people to those who champion the beliefs, opinions and massaged factoids that produce for them more government largesse.
Krugman is the sychophantic mouthpiece of the AFL-CIO branch of the Democratic Party, and the AFL-CIO contains many public employee unions as well as many construction unions that benefit greatly from the "prevailing wage" laws imposed on government contracts. The interests of those who run the NY Times closely coincide with that branch of the Democratic Party, so they are happy to give Krugman a forum to spout the party line. Read his stuff for insight as to what the AFL-CIO is fearing these days. Apparently they are fearing cutbacks in governmental spending and budgets.
stereotype homo..with aids induced dementia, that our msm is blinded to, as many of them suffer similar dementia's..the fruit of the fight for homo rights has given us krugman and bruce er what ever he calls himself these days..tragic comedy as the impact of these two is real.
yeah its all good and dandy unless whatever is accredited to you in the bank is used as a collateral for this new debt. He made a good starting run but he dropped the ball midway so.. no points.
I mean,it does sound well as an idea,borrowing when the interest is low.. but when you are so deep in debt that tommorow is a bubble bust away, maybe toying with the bubble isnt safe.
Hencompletely ignores the elephant - that there is a reason things are chaep.
What the world, needs now,
is debt, more debt.
It's the only thing,
that there's just, too little of...
With apologies to Burt Bacharach.
Am I the only one that wants to shove that fucking cat up his ass?
That might piss off the gerbil that's already up there.
Have another drink, or ten, alkies...that'll fix it....
I'll tell what's wrong, THERE ARE TOO MANY PEOPLE IN GOVERNMENT WHO SEEM TO THINK THAT KRUGMAN AND HIS ILK KNOW WHAT THEY'RE TALKING ABOUT.
Notice that Krugman is holding a cat. I'm sure you've all seen the commericial with the guy sinking in quicksand asking the cat to get help...
well like his cat, Krugman cares about nothing but his own self-interest. It's a symbolic and ironic picture if you think about it.
The FED needs to open up a new Mt Gox and redirect their computers to start mining bitcoin so we can all be saved by the ultimate fiat currancy. Bitcoin! I feel safer just thinking about the world awash in digital currancy. Maybe Paul Krugman can find the Mt Gox "lost" bitcoin.
Without question, Paul Krugman is the biggest QUACK in the history of economics. He is at the wheel of a porsche going 150 and headed for a cliff
He is the bottle on the shelf for politicians to justify what they do. When you've totally screwed up everything, reach for the Paul Krugman elixer. This is just a slot that Krugman cleverly fills for a hefty paycheck. It is financial Satanism, and there is a need out there for his ilk. Krugman is protected for any advice he gives, as it comes without warranty. The politicians hide behind Krugman when it hits the fan, simply stating that in the "expert's" best judgement, we "were doing the right thing".
There is no parallel to what he describes in the natural world. This exercise can be summed up as "mental masturbation".
Krugman took the BLUE PILL .... no doubt about that.
Sorry. Make that currency. :) Gotta love the bold statement spelling errors!
eActually Mr. Krugman would have by saying that, seven years ago, the government would have better spent the money in infrastructures and other usefull projects instead of giving it to the banksters. Today it is too late, the money is in the 0.1% pocket and they will use it were is profiting the most to them: probably not even in the USA.
Which bankers? The Amish bankers? The Christian bankers?
Yawn.
By talking about the Jewish people you divert credibility from the rest of us. Most Jewish people are ordinary individuals with the same goals and same limitations that have been placed before them by our debt-backed money system, with little to do with the "Elders of Zion" or whatever. It's true that Jews are disproportionately represented in the banking trade for historic reasons but most of them still don't have any ties with the financial sector.
Our war with the banksters is one of class, not of race. If there are any Amish, Christian, Hindu, Muslim, or atheist bankers who squeeze people with interest and debt made out of thin air (hint: there are), then they deserve the same fate as the Jews who do the same.
Yep, and I need Herpes and AIDS, and America needs more raping, murdering, child molesting illigal immigrants.
DIVERSITY = THE ZIONIST JEW WAR ON WHITES, CHRISTIANS AND HETEROSEXUALS
Funny how nothing dominated by socialist jews needs diversity.
Just get rid of debt based money and let the central banks simply become counting machines.
Paul Krugman is fucking his cat. WiFi from Market Ticker gets all the credit.
Oops! Wrong Hole - The Cat Versionhttps://m.youtube.com/watch?v=W4ZHBdrQC4s
LOL, Yeah, the Fed needs to take it's $4.5 trillion ballance sheet to $100 trillion.
And the government take it's $18.355 trillion and climbing to $1,000 trillion. Estimates are the unfunded liabilities as well as current debts are over $220 trillion for the US.
When the rest of the world realizes that the US is never paying back anything they will dump the dollar.
Right now the US is best looking debt whore in the Keynesian whore house.
The world is awash in debt. We have reached debt saturation.
As Peter Schiff and Richard Duncan say, the Federal Reserev will have to do QE4, QE5, QE-to-infinity while keeping rates at 0% or else it's dead.
Fed's stuck in a box of 0%, monetizing debt and QE, otherwise decades of depression.
Somewhere there's a C130 and a 30,000 foot jump awaiting Krugman..... sans chute...
That clown is not a good advertisement for continuing education.
The Kruger is a simple man. he simply would like the roads fixed in his area, no matter what.
"debt of stable, reliable governments provides “safe assets” that help investors manage risks, make transactions easier and avoid a destructive scramble for cash.
...DEfine "stable, reliable"
He is living a "hocus pocus" fairyland of self interest, immersed in objective world-view denial.
That cat is saying to himself What a fucking moron.
what has he been smoking
Krugman is wrong on debt. I will leave it to him to explain why. It is one thing that he does not understand the concept of debt in the bigger picture, but it is quite another to mislead another by wearing a title of Nobel Prize winner.
You are wrong on Krugman. I will leave it to you to explain why.
This guy is Ivy league?? He mentions borrowing for roads and infrastructure....good! Krugman is right that borrowing for capital investment is good and borrowing for current consumption is not good, long term on a government or personal level. Unfortunately that economic modeling flys in the face of today's fiscal budgeting at the local, state and federal levels, whic is all consumption based and has been since the Roosevelt era. Corporate producers of consumer goods and weapons have been feeding like pigs at this trough for the past 80 years. We're about 15 trillion dollars late on the idea of borrowing to invest in capital development. Let's see a total shift in fiscal priority first, then we'll discuss increased borrowing.
krugman makes MDB look like a piker
what has he been smoking
Reality.
"At this point we stopped reading."
Typical conservatard ass-hole, taking statements out of context. See: Breitbart, Shirley Sherrod.
Here's the second sentence AFTER Krugman said "[n]ow, in principle the private sector can also create safe assets, such as deposits in banks that are universally perceived as sound..." Pay attention, kiddies. It's really hard and difficult to follow, but do try.
"But all of that supposedly brilliant financial engineering turned out to be a con job: When the housing bubble burst, all that AAA-rated paper turned into sludge."
No wonder Wall St is so fucked up. Morons, idiots, and douche-fuck punks who can't concentrate sufficiently to read an entire article are still butt-fuck screwing the markets with their sound-bite analyses.
Now, kiddies, I realize the "context" is likely a new concept for you, one difficult to grasp by punks with no sense of history too busy watching porn on their computers and checking their Twitter and Ashely Madison accounts. Maybe you'll get it once you grow up.
But I won't hold my breath.
In the meantime, send your CVs to Stratton-Oakmont. You don't need an attention span to succeed at bucket shops like that. Just read the script.
Will you loan me money? I'm not going to pay you back.
Will get back to reality?
I am. You borrow some money, give it to me, and I never pay you back. You are on the hook. I spent all that money. Go borrow some more money for me so I can live. Again, I'm going to spend it all and stiff you. You continue to grab your ankles and borrow more money for me to live. Keep going...
Paul Turdman
We are being nickled and dimed to death here in the middle class and lower class by goverment taxes on every thing we do and buy becuase the debt load is already too high and unmanagable.
Kruger wnts to make this situation even worse. I revolt. I will look for every possible tax loophole from this point on. Enough is enough!
The guy is so drugged out on anti-depressants he thinks he works for SPECTRE.
Typical d*psh*t. He thinks it is possible to get something good for nothing. He sits back and observes the great things people do for honest money while collecting his taxpayer funded paycheck. Perfect figurehead for the free sh*t army.
Another idiot.
sigh.
Margins on debt are squeezed so the parasitic class has to make up the difference on volume. His position is not really that hard to understand.
I hear lots of mocking, but I didn't hear much counter argument. While you guys like to make fun of Greece, I think his point is that Germany should have borrowed more, not Greece necessarily.
Will you borrow money for me to buy a house? I don't want the risk.
At this point he's choking on his own vomit.
Krugman's one note somba
Ah yes, the old "shovel ready-broken windows-potemkin village-bridges to nowhere" play.... Jolly good ol' man. The lads down at the country club will love it.
Obama won a Nobel peace prize and Krugman winning a nobel is no different. The fraud and corruption within the selection committee should be more than obvious a LOOOOOOONG time ago.
They give assholes Nobel prizes in order to lend credibility to their opinion. It should be just the opposite now. Give someone a Nobel and they are going to be spewing government propaganda because media will be told to get that assholes opinion on a daily basis.
I want to extend cordial thanks to Nobel Laureate Paul Krugman for nominating my personal savings to pay for useful things...
That is after all why I've worked my fingers to the fucking bone for the last 20 years. So that he and his crony faggot buddies can plunder my savings to pay for useful things...
Molon Labe motherfucker....
"Believe it or not, many economists argue that the economy needs a sufficient amount of public debt out there to function well. And how much is sufficient? Maybe more than we currently have. That is, there’s a reasonable argument to be made that part of what ails the world economy right now is that governments aren’t deep enough in debt.
I know that may sound crazy."
It is crazy. It is like saying we are not deep enough in war for the economy to function well. How much war would cause the economy to function well, Mr. Krugman? A 500 pound bomb will break how many windows to fix?
A problem caused by debt, cannnot be solved by more debt, no matter how hard Krugman tries.
Krugman's stimulus fails, because it can never be enough. In fact, that is the game he is playing. He claims it isn't working because there isn't enough stimulus. The national debt will have doubled again, under Obama. How is that not enough stimulus?
More brain-dead drivel.
Looks like we have a banker here who loves the credit market that US public and mortgage debt create. As a bona fide socialist, I hate the liberal policies of "homeownership to all" and "unlimited welfare" under our debt-backed money system, the primary end of which is to create marketable securities for private banks to continue their games.
"One answer is that issuing debt is a way to pay for useful things, and we should do more of that when the price is right. The United States suffers from obvious deficiencies in roads, rails, water systems and more; meanwhile, the federal government can borrow at historically low interest rates."
What happens when the rates go up? Tell them Mr. Krugman.
An increase to 2% or so will sink the Japanese government. And you want to do that to the U.S.?
We've been hearing for years the brain-dead rants that interest rates will soon spike, Chicken Little.
Call us when you know something.
I can't stand that fucking autistic hipster quackademic joo krugman.
Nor can you stand reality.
Feed your cat and STFU, Mr Krugman.
I am autistic and have far more sense than Krugman ever will.I
I first saw the article in the NYT and I immediately threw up. Fuck Krugman.
Reality bites.
Every society harbors a certain respect for the insane. If it was just Krugman, that would be one thing. But he actually has an audience. These people roam about, they dress and talk like normal people . . .they are like the alien Scanners.
When his sewer backs up does this clown argue there's not enough shit in his basement?
The collective idiocy of the comments here explains how all those AAA-rated CDOs turned into chicken shit.
issuing debt says it all. Whom issues debt? Banksters with no collateral? Rothschild fractional reserve banking creates money from nothing.
Let the market find interest rates rather than having the interest rates set by a central bank that doesn't have collateral to back the currency they are printing.
Things like AAA-rated CDOs are frauds. Fraudulent paper backed by lies.
Oh, and any bankster caught thieving should get the guillotine.
in other news, Krugman dreams of getting boinked in the bunghole by Keynes
"But the power of the deficit scolds was always a triumph of ideology over evidence, and a growing number of genuinely serious people — most recently Narayana Kocherlakota, the departing president of the Minneapolis Fed — are making the case that we need more, not less, government debt."
The laws of math were discovered in B.C. and haven't changed since. Krugman's idiotology does not stand up to the laws of math.
There is only a shortsighted case for more governent debt. However, tomorrow always comes. We are staring tomorrow in the face.
100% of bubbles burst and deflate. More government debt will not avoid that fate. It just alters the date of reckoning AND adds to the size of the crash. The bigger the debt boom, the bigger the debt bust.
History has proven Krugman wrong, time and time again.
the flashing neon sign on Krugman's forehead reads "this man knows nothing"
This kind of stupidity can only come from the Ivy League.
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Yes, Mr. Krugman, it not only does sound crazy, it is crazy.
Live like your grandfather did, with regards to money and credit, you fool.
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V-V
Certified and complete Lunacy no doubt !
I think the author of such text should be held in a Psichiatric hospital ...
No doubt he was well paid to write this dangerous drivel, and then took that pay and paid off his mortguage while he still could...
Whoever said it takes a lot of brains to win a Nobel Prize?
Quite correct, they gave one to a fucking arse bandit, bathhouse trawling faggot Kenyan lobotomized monkey, so I suppose they could totally devalue and throw it down the shitter by giving the fucking spectacularly mind numbing moronic retard krugshit one too.
Both dangerously stupid and i still cannot understand why these fuck wits still use oxygen
Share it, Brother damicol!
Krugman proves the old country sayin' :
"I didn't know they could stack bullshit that high".
"Paul Krugman "What Ails The World Right Now Is That Governments Aren’t Deep Enough In Debt"
Krugman is part of the scheme.
Zion is a scheme, not an ethnicity.
Ok, so what's worse, Krugman or Timmah?
https://www.youtube.com/watch?v=XOYAuk809fY
Mr. Buy, Buy, Buy ENRON right up until it crashed. Yep.
Governments aren’t deep enough in debt. I know that may sound crazy. --Paul Krugman
"What could be crazy about that? Educated citizens know that exponentially increasing debt is the cure." --Indoctrinated NYT Reader
Once again Krugman proves he's a fucking idiot and should have his PHD pulled.
Paul Krugman represents the Kingdom of all that is wrong in this World.
He is without a doubt, the biggest moronic idiot of all time. But, if he is doing this on purpose (i.e. he knows the consequences of what he preaches and does), then he should be hung for Treason (and for contributing to the destruction of all humanity).
I wonder, did I make my point clear enough?
P.S. Could it be that Krugman is a Fabian Socialist?
Has anyone actually started to question the SANITY of those who hand out the Nobel prizes?
It seems to me that if you represent evil and the Devil, then you are apt to receive a Nobel prize.
Next, we will find out that Planned Parenthood is up for the proverbial parent-of-the-year award...
Someone once said, If we were all the same we would all be dead. In that case, thank goodness for the Paul Krugmans.
Just another KIKE of which is behind ALL that is errant and wrong in this country.
When will the goy start to connect the dots?
The need to be forceably ejected for tampering with a once stable society and economy.
They have been ejected over a 100 times over the last 1500 years for doing the same fraudulent deeds.
krugman is the moron who seems to think you have money if you have checks left in the checkbook. he should be one of the first people go after when things really collapse
What he fails miserably to do here, is explain why so many think we need to close down deficits! What nation slashes public spending when the population are growing? The reason behind this rhetoric, is they want to privatise all Public Services and will do under TTIP!
Nothing is mentioned of the fact Obama has spent [$7.5tn] in the last 8 years, the same amount that they spent from 1971 to 2008 [$7.5tn], 37 years? And Osborne has just spent double [£700bn] in 4 years what it took Labour 13 to spend [£350bn]!