Paul Krugman doing an question and answer over at reddit right now

Capt Billy the Kid said:
I know a lot of you are in total love with him

http://www.reddit.com/r/IAmA/comments/t1ygb/iama_nobel_prizewinning_economist_and_new_york/
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Just watched Charlie Rose talking with Krugman a while ago.

Krugman is pretty smart on economics, he howevwer did not see what was coming till it was upon us.
 
Occupant said:
Just watched Charlie Rose talking with Krugman a while ago.

Krugman is pretty smart on economics, he howevwer did not see what was coming till it was upon us.
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He was also an adviser to Enron.

He also has a very bad habit of letting his partisan nature trump his economic background. Which is why he now espouses the same old failed warped Keynesian view that so many left wing nuts run around chanting in their 'spend spend spend' theory of what it takes to solve massive debt problems.
 
Superfreak said:
He was also an adviser to Enron.

He also has a very bad habit of letting his partisan nature trump his economic background. Which is why he now espouses the same old failed warped Keynesian view that so many left wing nuts run around chanting in their 'spend spend spend' theory of what it takes to solve massive debt problems.
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LOL Total projection.
 
Superfreak said:
He was also an adviser to Enron.

He also has a very bad habit of letting his partisan nature trump his economic background. Which is why he now espouses the same old failed warped Keynesian view that so many left wing nuts run around chanting in their 'spend spend spend' theory of what it takes to solve massive debt problems.
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Your problem is that you think Krugman is trying to solve a debt problem. He isn't, because debt isn't really the problem right now. The problem is global economic stagnation and trying to "solve" the "debt problem" through austerity, in addition to not actually solving the debt problem, makes the economic stagnation problem considerably worse.
 
General Buck Turgidson said:
Your problem is that you think Krugman is trying to solve a debt problem. He isn't, because debt isn't really the problem right now. The problem is global economic stagnation and trying to "solve" the "debt problem" through austerity, in addition to not actually solving the debt problem, makes the economic stagnation problem considerably worse.
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The debt is the problem, that is the point you don't seem to grasp. Tell us, how much interest per year do we now pay on the $15 Trillion of national debt? All you are doing with more debt is pushing the problem into the future. You want future generations to pay for our 'entitlements'. That is the warped view of Keynes that you and Krugman share. That is what continually gets us deeper in the red.
 
Retirement is the hizzle, wife set up a Carona tapping beach house week and I'm well on my way to my goal of burning a pound of tree in year one.
 
Superfreak said:
The debt is the problem, that is the point you don't seem to grasp. Tell us, how much interest per year do we now pay on the $15 Trillion of national debt? All you are doing with more debt is pushing the problem into the future. You want future generations to pay for our 'entitlements'. That is the warped view of Keynes that you and Krugman share. That is what continually gets us deeper in the red.
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Debt is not the problem today. The problem today is low aggregate demand and the attendant unemployment and low economic growth. Solve those problems and the debt problem is considerably lessened through economic growth and increased government revenues. While you have to take on more debt to achieve this, with a strong economy you are in a better position to deal with the long-term debt problem.

Through the policies that you support, debt gets worse, the economy gets worse and unemployment gets worse. Nothing gets better, unless your goal is simply to dramatically reduce the marginal welfare state that we have already, which I suspect is really the goal for all of this austerity nonsense. Keynesian policies put us in a better position to deal with the long-term debt problem. Austerity policies don't, unless your solution is to eliminate the social safety net entirely.

Also, too. As a supporter of the Bush tax cuts, you really have no ground to stand on when talking about wanting future generations to pay for our entitlements. I was happy with the Clinton era rates and wouldn't mind if they came back. It's people like you that think the best time for a tax cut is always that don't want to pay for our entitlements, not people like me.
 
The Dude said:
Economic activity will mimic stagflation as Obama crushes mitzy, and continues the socialist attack on capitalism!
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Well, except for the growing economy (albeit too slowly) and inflation at or below the FED target of 2% (not to mention market gains of 46% for the DOW, 86% for NASDAQ, 50% for the S&P 500 resulting from Obama's socialist attach on capitalism) I suppose you're right.
 
General Buck Turgidson said:
Well, except for the growing economy (albeit too slowly) and inflation at or below the FED target of 2% (not to mention market gains of 46% for the DOW, 86% for NASDAQ, 50% for the S&P 500 resulting from Obama's socialist attach on capitalism) I suppose you're right.
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anemic economic growth, inflation is low only due to housing prices (which the average person doesn't feel on a day by day basis) Inflation on energy, food, clothing averaging over 5%. Gasoline up 100%+ since Obama took over. Unemployment still over 8%. More and more regulations and government bureaucracy. The stock market is up because investors have no where else to go. We suck less than the EU and China on a relative basis, thus the money is pumping into our markets. Obama throwing up continuous road blocks to energy independence. Yeah... great economic leader he is.
 
Capt Billy the Kid said:
I read his whole ama and my eyes glazed over. I don't understand shit about economics :/
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Most people don't. Unlike Dung, at least you understand what you don't understand. Dung just repeats the nonsense of Krugman and his ilk and pretends he knows what he is talking about. Dung and the like are determined to prove that fiscal irresponsibility should be addressed by more more fiscal irresponsibility because to them in some fantasy future, politicians will actually eventually pay the debt for them.
 
General Buck Turgidson said:
Well, except for the growing economy (albeit too slowly) and inflation at or below the FED target of 2% (not to mention market gains of 46% for the DOW, 86% for NASDAQ, 50% for the S&P 500 resulting from Obama's socialist attach on capitalism) I suppose you're right.
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Take your floaties off and get back to the kiddie pool
 
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