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Paul Krugman Is "Really, Really Worried" That He Might Have Screwed Up Japan
Late last year, a very important and very “powerful” man took a field trip to Japan to observe Keynesian insanity prowling around in its natural habitat...
That’s right, last November Paul Krugman - the mere mention of whom is enough to strike terror in the hearts and minds of the sane - found himself in a limousine with Japanese economist Etsuro Honda who was intent on securing the Nobel laureate's help in convincing Prime Minister Shinzo Abe to delay a planned (and prudent) sales tax hike. As a reminder, here’s how Bloomberg described the “historic” series of events:
When Japanese economist Etsuro Honda heard that Paul Krugman was planning a visit to Tokyo, he saw an opportunity to seize the advantage in Japan’s sales-tax debate.
With a December deadline approaching, Prime Minister Shinzo Abe was considering whether to go ahead with a 2015 boost to the consumption levy. Evidence was mounting that the world’s third-largest economy was struggling to shake off the blow from raising the rate in April, which had triggered Japan’s deepest quarterly contraction since the global credit crisis.
Honda, 59, an academic who’s known Abe, 60, for three decades and serves as an economic adviser to the prime minister, had opposed the April move and was telling him to delay the next one. Enter Krugman, the Nobel laureate who had been writing columns on why a postponement was needed.
It was in a limousine ride from the Imperial Hotel that Honda told Krugman, 61, what was at stake for the meeting. The economist, who’s now heading to the City University of New York from Princeton University, had the chance to help convince the prime minister that he had to put off the 2015 increase.
The concept of outside opinion influencing Japanese decision-making is known as gaiatsu, or foreign pressure, in Japanese, and has historical precedent since at least the arrival of U.S. Commodore Matthew Perry’s squadron in 1853 in Tokyo Bay, which led to an opening in the nation’s trade policies. Gaiatsu also has been used as cover by Japanese officials when they’ve pushed through controversial measures.
Krugman plays down his role, saying the Nov. 6 meeting with Abe “was very straightforward.”
But Honda tells a different story:
“That nailed Abe’s decision -- Krugman was Krugman, he was so powerful.”
Yes, “Krugman was Krugman,” which means everyone in attendance was subjected to 40 minutes of crisply-worded nonsense and unlike Deputy Riksbank Governor Per Jansson - who, earlier this year, suggested that Krugman “write fewer articles and have more of a look at the data” after Krugman essentially accused Sweden’s central bank of being an evil cabal of job-hating heretics motivated by an overwhelming (not to mention completely inexplicable) desire to perpetuate global inequality by enriching creditors at the expense of impoverished debtors - no one had the good sense to tell him to shut up.
Sure enough, the tax hike was delayed.
Just days earlier, Krugman penned the following laughably ridiculous words in a blog post explaining why Japan should avoid doing anything that could be mistaken for a rollback of Abenomics:
When I see, say, the IMF inserting into its latest Japan survey a section titled “Maintaining focus on fiscal sustainability” my heart sinks (and so, maybe, does Abenomics); [even though] it’s hard to argue against sustainability.
It sure is, but Krugman will do it and powerful people will unfortunately listen and by the time everyone realizes that efforts to micromanage economic outcomes and smooth out the business cycle by cranking up the printing presses and gluing rates to the zero lower bound have failed it will be far, far too late to normalize which of course is precisely what's unfolding across the world today.
We retold the story presented above because on Thursday a very funny thing happened: Paul Krugman told an audience in Tokyo that he is "really, really worried" that Abenomics might fail. Here's Bloomberg:
Nobel laureate Paul Krugman said risks of failure are growing for Prime Minister Shinzo Abe’s "Abenomics" campaign to end Japan’s two-decade slump.
“I’m still really, really worried,” Krugman said at a conference in Tokyo on Wednesday. A big problem remains building enough momentum in the economy to escape deflation, he said.
“Japan has spent a long time in this deflationary trouble," said Krugman, who helped convince Abe to delay another planned increase in the nation’s sales tax after a hike in April last year pushed the world’s third-biggest economy into a recession.
Japan needs to reach a point where everyone believes that it has pulled out of deflation, he said. "And then if that can be believed, then it may be able to stay out of trouble thereafter,” he said.
Reading that, we're reminded of BoJ cheif Haruhiko Kuroda, who, back in June, hilariously likened himself and his fellow DM central bankers to Peter Pan when he said the following about what's needed to perpetuate the central bank omnipotence myth:
"I trust that many of you are familiar with the story of Peter Pan, in which it says, 'the moment you doubt whether you can fly, you cease forever to be able to do it.' Yes, what we need is a positive attitude and conviction."
What Krugman and Pan are both tacitly admitting, is that Abenomics has demonstrably failed and the only thing that can save Japan now is for everyone to suspend disbelief in the face of voluminous evidence that what Kuroda and Abe (at Krugman's behest) are doing simply isn't working.
And because "Krugman is Krugman", we're never more than one Google search away from a hilarious soundbite from the New York Times blog archives, and so it's with great pleasure and with everything said above in mind, that we leave you with the following excerpt from a Krugman classic entitled "Why Keynes Is Slowing Winning" ca. 2014:
"Why does the tide finally seem to be turning? Partly, I think, it’s just a matter of time; after six years it’s becoming hard not to notice that the anti-Keynesians have been wrong about everything. And the refusal of almost everyone on the anti-Keynesian side to admit any kind of error has gradually made them look ridiculous."
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Since Kerry sold Heinz, Krugman has been using Vagisil instead of Ketchup. ;-)
Looney
Moar Moar Moar QE !!!!!!!!!!!!!!!!!
Make shit up and watch everything blow...... It's called Krugman Strategy.
I hope thats a glass of piss he is throwing back. Asshole.
FUCKASHIT ROUND EYE ASSHORE!
If someone hit your peter with a pan you'd fly too.
Just LOOK at that fucker. Everything about him says ARROGANT PRICK !!!!!!!!
One's internal narrative creates and shapes one's reality.
Professor Krugman is right about one thing. Actually, many things. But the one thing that he is most right about is the necessity of keeping a strong positive mental belief that things will work out as planned.
Without a positive attitude, things could fall apart very quickly.
Let’s all try to keep this in mind whenever we level undue criticism at someone of his stature. He’s been right about so many things, especially the recovery we’ve been seeing lately, that his victory sip of wine should give inspiration to all those of us who believe in his legacy.
In person, he's a weaselly little nerd with a voice like a neutered kermit. I didn't shake hands with the man (there was no running water nearby) but I imagine he has a limp handshake, too.
Why anyone takes this charlatan seriously is beyond me. I guess "our" "leaders" really are ignorant... or just looking for an academic figleaf that will excuse the crap they want to do anyway.
There was a good article here a while back about "Credentialization". Credentials (which I might add are very easy to fabricate) have completely replaced common sense in the constellations of power.
We are well and truly forked,,,
;-D
Still drowning in irony here: http://fodi.sydneyoperahouse.com/program/paul-krugman/
What?... No photo of Krugman stroking his pussy?
That's his best persona.
Paul. Paul!! You can't eat "worry" honey. You "worry" and then you just sit there - you know like a pet rock.
Or does your "worry" have more utility than my worry. Cuz i've been worried for the past 10 yrs Professor!
Jesus - i bet your wife is VERY unsatisfied.
"Credentialization"...works very well with Crashiness.
"just looking for an academic figleaf that will excuse the crap they want to do anyway"
And there you nailed one of the primary reasons this proven to be wrong time and time again Keynesian garbage persists as dogma: it tells both banks and governments what they WANT to hear, that they can borrow their way to prosperity.
“What he (Keynes) really did was to write an apology for the prevailing policies of government.” – Mises
“The advocates of public control cannot do without inflation (originary use = monetary/credit expansion). They need it in order to finance their policy of reckless spending and of lavishly subsidizing and bribing the voters… Inflation is the fiscal complement of statism and arbitrary government. It is a cog in the complex of policies and institutions which gradually lead toward totalitarianism.” – Mises
its just a US edition of political Rasputin
Is that you MDB?
I think it's one of his aprentices!
He's got psycho crazy eyes too.
He knows enough to stay out of Japan as he might accidentally get "hara-kiri-ed".
He's got the same crazy eyes the Colorado theater shooter had.
The crazy eyes of someone who has been subjected to some serious CIA caliber mental reconditioning... Jus sayin.
Keynes changed his mind a lot. If he saw something was not working, he would admit it. He would role over in his grave to hear himself being named for all this mismanaged capital.
This is not Keynesian economics, all they do is spend and spend no matter what, the politicians never cut back spending when the economy is doing well to save up a war chest when the economy goes into recession. Total madness.
They do have the spending half down pat.
The cut back spending part, well that is for your grandchildren to bear the brunt of.
Keynes would probably be the first to start shooting people for what they are doing in his name.
It actually is Keynesian economics, just as Soviet Russia really was communism.
You see, if your theory never makes it out the gate in practice, that should be a good sign to most people that there's a flaw in the theory itself. How many governments in history have been known to reduce spending when there is no crisis?
Yes, but only a complete idiot would think that he could put forth an economic theory which gave every government official everything they wanted part of the time and expect them to show greater discipline than ever before at other times.
Grade school children would have the psychological perceptiveness to figure out that governments would avail themselves of license to do what they wanted to do in ever increasing amounts while putting off endlessly the need to do what they don't want to do. Keynes either didn't or, justifying the worst views of him and his work, just wanted to give intellectual cover for socialism run amok.
And it's kind of ironic that Krugman proudly calls himself a keynesian and in the title of his recent book angrily referred to present conditions as a depression. This was J.M. Keynes' quote in late 1927 when some people were saying that the U.S. and U.K. economies were overheating and that there would be trouble:
"We will not have any more crashes in our time."
- John Maynard Keynes, leading British economist, in 1927
DOH!
You mean things are not so "awesome"?
ossum.
Like possum.
When things get tough for a possum, they shit, and then pretend they are dead. (Had one sneak in my house one night and do that on the kitchen floor.)
Professor Paul should consider doing the same.
You want an economist to shit on your kitchen floor???
There are some strange people about ;-)
Like Japan would be different?
He should clean up Fukushima with a tooth brush for penance.
So Solly yo haeh fah out, Krugfoo!
Amen to that.
What do you think he says to himself? "I totally fucked up an entire nation, and likely the entire global economy. Whoops my bad. So, where should I go to dinner tonight?"
Jeezusfukncris. All these big giant arrogant know it aullAzzhoes need their skin sandpapered off & buried in salt. All these miedras feather their own bank acct balances @ the expense of the serfs & peasants.
"Wake up. Time to die." Leon, Blade Runner
+1
Sounds like all they have to do is believe.
Absolutely no need here for anything actual!
Once everyone believes; everything will be awesome!
Hmm, drinking Koolaid from a champagne flute, WTF??
“Japan has spent a long time in this deflationary trouble," said Krugman. So Krugman tells them to stay the fucking course for nearly 30 years now. Shit if 30 years of QE did nothing, surely another decade will do.Who the fuck listens to this fucking idiot (sadly it is those that make decisions on such matters). We have a perfect case study of why QE cannot work, yet the US follows this fucktards advise while data out there says to not do QE. The fucking TBTF's should have failed and been under government receivership until all the assets were sold off and creditors paid with what was left. We would have real organic growth that would have jobs for those willing to work, and I have a suspicion that the jobs would pay better than now. The leaders of the world are all those that escaped the loony bin.
" Shit if 30 years of QE did nothing, surely another decade will do. "
You got it.
With printing money, as with collecting Beanie Babies, downing half gallons of ice cream or bottles of cheap tequila, we always know.....
"If a little is good, a lot is better, and MORE is BETTER YET!"
AMERICA! Jesus' Favorite Country! ©
If god loved America he wouldn't have put all that American oil under other countries.
The best thing this pos could do at this stage of his life is a mea culpa and buy some fucking gold. Other than that take the punishment like a man.
Seppuku
We can fry!
Tempurakazi
He is sitting on his gold like all the other rich boys are, I don't believe for a second that he really believes the shit he's selling everyone. I wager they all own physical, I mean they got enough cash to spend so why not load up on phyz while suppressing it's price at the same time? It's idiot proof. While most poor people won't be able to even afford a single ounce, if by chance some poor bastard inherited some gold he might soon need it to cover his debt obligations, but he'll have to sell into the suppressed price. By the time gold price explodes, only the cash-strapped rich will still own any, as everyone else had to liquidize his stash way before. That's the way it always has been, that's the way they stay powerful: endless boom-bust cycles where only the insiders know the exact timing. Bubble after bubble.
Check out the face. What is that in the glass, really?
Snake oil,,,
;-D
He's a little twat that doesn't even know how to properly hold a glass of wine.
Hold on!
Let me get this straight?
You mean THE Paul Krugman, the very same dood who believed it was simple "suppy and demand" that the oil prices zoomed up in 2008, 'cause he never heard of, nor figured out, what oil/energy speculation means and is all about?
THE very same Paul Krugman who doesn't believe that banks can create credit, 'cause he's never really understood that pesky thing called, "fractional reserve banking"?
THE very same Paul Krugman who believes the global financial economic meltdown was due to too much American household debt?
THE very same Paulie Krugman who stated that the American banks which are the top holders of credit derivatives (i.e., fantasy finance) are unbelievably financially health?
Surely this blog post is mistaken?
Krugman fucked Japan. That should qualify him for the Fed.
When does Old Yeller start working for Citadel, the unofficial arm of the Fed, for a 7 figure salary?
There is nothing wrong with Krugman that a short rope and a long drop can't fix, though it should be a party event where all his dedicated followers should be hanging around with him.....
"There is nothing wrong with Krugman that a short rope and a long drop can't fix, though it should be a party event where all his dedicated followers should be hanging around with him"
Unfortunately People like Krugman escape justice. Since Krugman holds no political office and is not directly connected to any of his spew, he'll neve see the end of a rope. FWIW: I expect the majority of the politicans to escape, but the rest of us will suffer when this fraud eventually collapses. Consider that a lot of the previous politicians that set us on the road to ruin already passed on (Stalin, FDR, LBJ, etc). Some like FDR are still praised.
Execution is not justice. It is terminating a life, typically, that has been lived at the expense of others. Think of it more practically - ending a net drain on society.
Justice comes after death.
Can we just feed him to alligators or something? Even a short rope is too good for him.
But that would be abusing the gators.....
The problem is that while Keynes was slowly winning (at least according to Krugman), he was also very quickly losing, at the same time. All in all, not a very good outcome...
In an earlier article I commented that I thought Krugman was the 'prominent economist' that wished to have his name withheld from the NBC article about al-Quadas hitlist. If al-Quada really wanted to destroy the 'revival of the American Economy' they would make sure this clown never stops writing the gibberish that won him a Nobel prize. He may very well still be on the list though based on the other high profile names.
Peter Schiff
Max Keiser
Harry Dent
Ron Paul
If they really wanted to wreck the economy by killing a prominet economist.
You do mean -- Gladio ..
https://www.scribd.com/doc/170104153/Veterans-Today-1-of-3-National-Secu...
MOE, LARRY, CHEEZE!!!!!
As if he if gives a fuck. He'll only care if the cheque bounces.
The man is a menace; someone please put him out of our misery.
(hey, maybe the Japs will do it?)
I don't know about the rest of you, but I started LMAO before I opened the article.
Krugman is more like Karl Marx than Maynard Keynes... promotes socialism, fascism, and communism but behind the scenes makes millions following capitalism.
Dovie'andi se tovya sagain (It's time to toss the dice)
The Daily Economist
Marx, Keynes, this prick they don't promote socialism or any of those other ideologies. They simple allow the Elite to divide us and increase their power as the sheep argue between "left" and "right".
That said Marx himself admitted that Communism was an evolution from Capitalism it was never meant to be a revolutionary process only idiots believe you can have communism in our current epoch.
All Governments are tyrants in my opinion.
We are doomed!
that is all....
Well Paul... It just so happens I have a nail gun on the house if you are "that worried" about what you did! But if I were you?... Given your stature?... A vry public announcement with all the best media outlets covering your jump from the Freedom Tower without a parachute.
If you hurry maybe you can pay your respects on Friday for the 14th Anniversary and give the crowd in attendance a heartfelt mea culpa for all the damage and destruction that you've contributed to in your career and a well deserved show to everyone you've screwed over being such a major douchebag!!!
No Country for Psychopath Economists!!!
dupe of earl
Krugman nailgun seppuku? Will this be pay per view?
Krugman's heading to NY?
A much better chance that our paths will cross in a dark alley somewhere.
I believe Krugtard has been at columbia for about a year now.
It's funny. I could have sworn you wrote "Krugman's beheading in NY?"
Who else is attending?
I bet Paul Krugman was picked on and given wedgies in the playground when he was a little boy.
by some japanese bully?
I think most of these ivy league economists were. They have a chip on their shoulder and have no self-awareness whatsoever. They are arrogant, small people.
LOL
Funny how Kruger defended his stance on Japan the whole while. It's like the doctor that says you have to double your dose of morphine and when you're dead say "You know what...maybe that was wrong."
He should have got them to issues a trillion yen pokeman coin. I think my kids have one. I'll look in the attic
I believe...that Abenomics is a quality quality economic strategy...I couldn't care less about the economy strug-gle-ling.
Joe Krugmath
"I wanna kiss you" Krugie to Abe
eCONomics = CONfidence.
...So say the CONmen.
Fuck krugman!!!
sarc: The current nuclear industry could not be funded via sales taxes. Therefore sales taxes bad. Keynesian ecomonics, a selectively enforced 80,000 page war provisioning tax code, corporate veil, soveriegn immunity, debt collected over generations at the end of a gun and a M.A.D. national defense posture is only thing that creates good jobs!
sarc aside, send good thoughts to the people of Japan. they have tsnami's and flooding going on right now. In very sensitive areas. :(
Economic "science" in action:
"Japan needs to reach a point where everyone believes that it has pulled out of deflation, and then if that can be believed, then it may be able to stay out of trouble thereafter”.
– Paul Krugman
BOJ officials used to be cautious about purchasing ETFs, worried that it could distort market activities and put the central bank’s own financial health at risk. But under pressure from politicians following the global financial crisis, the bank changed its stance in late 2010.
“We led the cows to water, but they didn’t drink it, even though we told them it tasted good,” Miyako Suda, who was a board member then, wrote in a 2014 book discussing monetary easing at that time. “So we thought we should drink it ourselves, showing them it was tasty.”
“We led the cows to water, but they didn’t drink it, even though we told them it tasted good,” Miyako Suda, who was a board member then, wrote in a 2014 book discussing monetary easing at that time. “So we thought we should drink it ourselves, showing them it was tasty.”
"..& by doing so we actually poisoned the well."
Krugman is nothing but a narcisistic bitch who can't stand to be proven wrong.
I rely heavily on Krugman for shaping my thoughts on economics. If Krugman says something, I immediately know that the very opposite of what he says is the truth.
I know I'm not Alone! Is there Anyone out there who is Not Sick of This Krugman Asshole?
He will NEVER say he was WRONG on anything....they do not do that...they just change their story or blame someone else....but he is never wrong....and I am sick of him too....and Nobel prizes for that matter
Paul, you know seppuku is the only honorable way out now.
Just shut up and do it.
ah yes....Michael Lonsdale explaining it to Bob....
https://www.youtube.com/watch?v=YGCSDmrnNfg
Hypocrites like Krugman make it very easy to understand why people were "drawn and quartered"...
'Hypocrites like Krugman make it very easy to understand why people were "drawn and quartered"... "
& why they will be again.
good to see another optimist...
Only after he's been trepanated and laser probed for posterity...
I agree, and I think that day is closer than they realize.
"the anti-Keynesians have been wrong about everything"...
they're all still denying the existence of the luminiferous aether.
"Japan needs to reach a point where everyone believes that it has pulled out of deflation"
ZH, Krugman left a hope that his theory is still workable only if .......
It is show time .... everyone is making everyone belive that there is a way out...
if there is a way out, ZH, then what is it? I really want to know if there is a way out... no no no not just for a few.. but for all... is there a way out?
Don't worry about Krugmans... that should be the least of the worries.
Krugman! Is this the man who claimed the internet would be a short lived craze? The Oxford English dictionary and their lexicographer should enter the name Krugman, in the dictionary and the definition of Krugman should be; idiot. Krugman has become a parody of himself. The man is correct less than 15% in his economic assessments, so why the fuck is he still employed? Somebody should do us all a favour and smash his fucking teeth in with a club hammer.
krugman is the archetype example of everything wrong with economic science. He is a complete fraud and an outright liar, who is repeatedly given prominence on the centre stage. I also view the New York Times with contempt, who shamelessly continues to employ a known economic charlatan. Fuck Krugman and everything he stands for, plus the fact he is a FED mouthpiece and unwavering in his support of FED policies, places him firmly in the camp of TRAITOR!
Bull shit! He don't give one rats ass about anyone but himself.
Krugman: The dumbest "smart" person on earth.
It must have been cold there in my shadow
To never have sunlight on your face
You were content to let me shine, that's your way
You always walked a step behind
So I was the one with all the glory
While you were the one with all the strength
A beautiful face without a name for so long
A beautiful smile to hide the pain
Did you ever know that you're my hero
And everything I would like to be?
I can fly higher than an eagle
For you are the wind beneath my wings
-Bette Midler
HAHAHAHA....WTF?
Eagle, wings, wind I think of one thing.
shit on the bastard below, below, Oh shit on the bastard below :-)
I hate all these ZH articles about guys like krugman, cramer and gartman etc... We on here all know they are nothing but shyster hacks selling the dream that numbers and words don't matter. Sadly, we've reached a stage where the owners of the media use these fools to dupe the public to believe that these are the experts. Cramer is on how many goddamn NBC shows and radio, krugman's insane advise is sought out by governments around the world. All these articles do is give these cocksuckers more air time. I try to avoid any reference to people of this ilk, mainly because it gets me so depressed on society in general that people will line up believing and losing the fruits of their labor to these people as they are held out as geniuses. I hereby propose all Cramer, Krugman and Gartman posts be banned unless it is about them being violently killed by a nail gun.
No No.
It's click bait - much like the Kraptrashians on shit sites such as YaPoo and AoHell....Fartman, Crapper and Klugglugman are simply farticles where ZH lets us vent off steam and call them appropriate names - like asshole, cunt, prick, etc.
it's.....therapy
Oh it's therapy ... didn't know that.
I been listing names and putting the number of stab wounds to be applied to them ... dam got that wrong or did I?
... Right on therapy, my therapy mwhahahahaha!!!
Japan will double-down again,guaranteed.Buying U.S. Treasuries with all their printed fiat garbage.So,like I said before,how do you put a fair value or determine an accurate price when all your buddies are buying your uncontrolled spending with literal crap?Just like Rome,history repeats itself with out of control spending on miltary and empire building courtesy of Neo-Cons( Neo Nazis) running the State Department.All led by the war party.It's a modern day Vietnam which will bust them by running U.S. Cities and infrastructure into the dirt.
What, Krugie worried?
In true Japanese spirit, he should fall on his sword.
I wanted to vote twice to your suggestion. I guess everyone is going to learn that he is a financial retard in his life time!!!
That would imply Krugman has a conscience and has the ability to experience guilt. A fraudster and charlatan has no guilt and no shame, it is part of their psychological make-up. Any government that listens to the advice of Krugman, deserves the fate befitting such stupidity.
When all other things fail go to war.
Exactly! War is the last refuge of failed Keynesians...
Paul Krugman Is "Really, Really Worried" That He Might Have Screwed Up Japan
Subtract the words might have.
I wonder if he pronounced it "defration." What a tool!
"Why does the tide finally seem to be turning? Partly, I think, it’s just a matter of time; after six years it’s becoming hard not to notice that the anti-Keynesians have been wrong about everything. And the refusal of almost everyone on the anti-Keynesian side to admit any kind of error has gradually made them look ridiculous."
That tide turning, is the tide receding, just before the mega tsunami hits.
I'm surprised Hillary (cobweb cunt) hasn't announced Krugman as her VP choice.
What an absolute looser. I serioulsy hope this guy gets what is coming to him.
I am no Krugman - but the way I see it Japan has only two choices -
Print Yen and buy financial assets to delay the total crash of the economy a little bit longer
Or
Let the total crash of the economy start now.
To me it is like that joke -
Picture of a deserted island - a boat just pulled up - 10 pregnant women and one guy are standing there -
The guy says - I'm staying.
what si wrong with letting failed companies and states default...get your house in order and grow. Instad we have insane people saying more debt will lower the debt! BANKRUPCY WORKS...if you stop doing the SAME F"NING THING! How about balance your revenue and spending....GIVE THAT A TRY!
You can't keep the debt under control now it is way to big unless 0% interest on the debt. You can't even pay that so in my mind you declare insolvency on a global scale.
Why can't Japan do this? Because everybody else will do the same and you may as well cancel all debts.
If you move to the last point, then debt cancellation makes a different world no more debt, but then money no longer has worth now.
That is the place we are not allowed to go and the elites will wage WW3 if any attempt is made to go there because all their power is in their own personal value.
I don't normally wish a horrible, gruesome, extremely painful, lingering death upon anyone, but in Krugman's case, it is so damn easy to make an exception.
How did Japan get in this situation?
It's bankers went on a maniacal lending spree into real estate.
The bubble burst in 1989 and rather than acknowledge their bankers were idiots they hid the bankers losses.
US bankers went on a maniacal lending spree into real estate.
The bubble burst in 2008 and rather than acknowledge their bankers were idiots they hid the bankers losses.
European bankers bought Complex Financial Instruments based on US sub-prime mortgages.
The bubble burst in 2008 and rather than acknowledge their bankers were idiots they hid the bankers losses.
The US banks did not totally hide the losses - they were just given billions in subsidized profits to cover the losses.
worse than that.
Banksters were give billions to hide facts of low reserves, bad mortgages and hand out bonuses.
Accounting was modified so they did not need to address the mortgage losses. They are still hidden. But the money is gone.
i know everyone loves to bash the bankers but it way more than them, the people taking out loans they can't repay, the loan brokers, the title companies, the people buying junk bonds with high rates, the list is endless. It is hardly every just one reason why something breaks. It a multitude of smaller errrors that cause the problem.
The accusation is that Krugman is worried that he screwed up Japan. I don't see that in the evidence provided in the article.
Interesting fact: In the picture at bottom of article, Krugman is actualy drinking his own piss, becuase Krugman's piss is magical and tastes so damn great. People who drink Krugman's piss instantly believe in his fervant Keyneian message of salvation. If only more world leaders would drink Krugman's piss, everything would be green shoots skittle shitting unicorns 4 evah!
If uoi drink the piss of somebody totally fucked on acid ... you will trip also.
This clown is the dumbest economist of the last 100 years....maybe ever.
Krugman should just off himself for the failure to humanity that he's been. Professionally speaking of course.
Paul Robin Krugman anagrams for kicks:
Abnormal pink guru
A bulk manuring pro
Baronial rump gunk
Buring koala rump
Bong rim luau prank
Mauling urban pork
Oink, man up, burglar
"Crisply-worded nonsense", BTChez!
He is an academic with absolutely no common sense. You know how this has to end.
There is no right answer for Japan. No right monetary answer, no right fiscal answer, nothing. The place is literally cooking in its radiation stew, and it has become economically uncompetitive in Asia.
Krugman is not a Keynesian.
He a supply side, trickle down version of Keynes.
Krugman puts money in at the top hoping the money will trickle down, which it doesn't.
Keynes puts money into peoples pockets at the bottom through jobs and wages from infra-structure projects.
Keynes thus increases demand and leaves a legacy of infra-structure projects that needed doing anyway.
Krugman blows asset bubbles, which burst leaving no trace of all the money.
Krugman is a statist. Period. Oh, and as for Krugman not calling for infrastructure to jump start the economy, think again:
"But nowadays we simply won’t invest, even when the need is obvious and the timing couldn’t be better. And don’t tell me that the problem is “political dysfunction” or some other weasel phrase that diffuses the blame. Our inability to invest doesn’t reflect something wrong with “Washington”; it reflects the destructive ideology that has taken over the Republican Party. the mismatch between desired saving and the willingness to invest has kept the economy depressed. Remember, your spending is my income and my spending is your income, so if everyone tries to spend less at the same time, everyone’s income falls. There’s an obvious policy response to this situation: public investment. We have huge infrastructure needs, especially in water and transportation, and the federal government can borrow incredibly cheaply ... And it’s all about ideology, an overwhelming hostility to government spending of any kind. "
http://www.nytimes.com/2014/10/27/opinion/paul-krugman-ideology-and-inve...
I'm not sure Keynes ever advocated for endless stimulus. Something like stimulus in the bad times while paying down debt and being fiscally responsible in the good times. At some point the addition of more debt stifles any growth.
These people choose not to consider that the sheeple have no faith in the system and are trying to get out from under it.
Krugman could care less about Japan. All he worries about is being discredited when his bad advice ends in the country's financial collapse.
No he is greedy just like every liberal. They will say anything to take their pound of flesh. Krugman would tell you that high pay for leech bankers help the economy to score a speaking fee at Goldman! A GREEDY WEASEL!
Nobody with any intelligence believes that any of the debt will be paid back in full. With health insurance rising faster than incomes, with 80 million boomers expecting SS and Medicare/Medicaid, there is no possible outcome other than default.
At some point they'll be a new currency/currencies and the debt will be paid off in federal and state lands.
The majority of the rest of the world gets along just fine without all the bullshit that the western nations have acquired . In the end all one really needs is food, shelter, and health. Everything else is just gravy. My grandparents lived through the great depression. They said it wasn't great by any means but they did survive.
Express it this way ... "debt rising faster than incomes" so they have a hole in their understanding of economics and the abilitiy of central bankers to deal with this.
UP / DOWN all garbage, the above is an absolute in everything, if anything it is gaining speed because the % interest on the debt is now > what the economy can afford to pay.
Is it just me, or does that photo of him swigging the booze look like he has had a bad facelift?
Paul Krugman is as dumb as a rock!
What couldn't be done by Fatman and Little Boy Krugman has finished.
Krugman is a Nice jewish boy.
FRez101:
Restrain the tax code
Impose sales taxes
Restrain local trade and commerce
Use Sales taxes to finance services for poor immigrants and refugees
Import immigrants aliens and refugees
Repeat until bankrupt
BTFfire saleD
Diversity is good for the litigation business too.