Posted by
rycK on Monday, January 05, 2009 11:13:48 AM
Krugman of the NYT Lets Spend Some More!!
The New York Times—aka the Walter Duranty
Papers
has an all-encompassing and circuitous track record of apologizing for any form
of big government as long as it involves
huge spending and high taxes. Today, the Times’ famous noneconomics economist Paul Krugman
grinds on with his unbridled respect for John Maynard Keynes, trumpeting a plan
for more government and printing money and astronomical deficits.
In its twice weekly turn of the
leftist canonical crank, their igNoble Leechette, blessed with insights
and the arcane ability to divine the particulars of Depression government
policies, will now recite for us the only words that matter to a leftist
politician: Tax
and Spend.
The rest of this article is hopeless
stuffed to the gunwales with mind-numbing tautological fluff, but it may have
some interesting twinks
and turns that might amuse us. Here is
what we look for in Keynesian Stooge: [1] a reduction in interest rates and [2]
Government investment in infrastructure.
To wit:
““If we don’t act swiftly and boldly,” declared President-elect Barack Obama in his
latest weekly address, “we could see a much deeper economic downturn that could
lead to double-digit unemployment.” If you ask me, he was understating the case.”--
Fighting Off Depression By Paul Krugman Op-Ed Columnist Published: January
4, 2009 . [Emphasis is mine in all
quotes.]
Where is the ‘patriotic part’ of
this mindless plea? Where is the Plugs the Buffoon on this matter?
“"You got it. It’s time to be patriotic, Kate. Time to jump in, time to be part of the deal, time
to help America out of the rut, and the way to do that is they’re still gonna
pay less taxes than they did under Reagan."—Joe Biden, plagiarist and a person who
cheated his way through Law School at Syracuse. This link has Joe talking away on TV: http://www.youtube.com/watch?v=cX5nlKcTzvU&eurl=http://americansforprosperity.org/index.php?id=6409
Plugs, the Buffoon, has to stay low in the current
administration, apparently, because his mouth seems to utter sounds and
thoughts that do not correlate with history or the current Obama shifting
platforms on the economy.
Spend some more?
Is this like we did with the
‘stimulus’ package that was passed in Congress with fluff and foam and bleary
eyed and did nothing to stimulate anything except the stress on the truss straps
of certain liberal Democrats? Money is that easy to spend! Lets spend more!!
What stimulus did we see from that 150 billion? Oh! Nothing? No effect?
But, then, a tax cut of 300
bln?? How could this happen?
“WASHINGTON -- President-elect Barack Obama and congressional Democrats
are crafting a plan to offer about $300 billion of tax cuts to individuals and
businesses, a move aimed at attracting Republican support for an
economic-stimulus package and prodding companies to create jobs”--Obama
Eyes $300 Billion Tax Cut Huge Breaks for Firms, Individuals Are Aimed at
Winning GOP Support for Stimulus By JONATHAN WEISMAN and NAFTALI BENDAVID JANUARY 5, 2009
I wonder if O’Bozo talked to
either Plugs or Krugman about this? I sometimes wonder if Krugman ever reads the NYT. He probably just submits his rants ex cathedra. Krugman has ranted on about
tax cuts and called those who wanted such demons ‘Tax
Cut Zombies.
Now, we wonder, is O’Bozo might be a Tax Cut Zombie?? This is just bait for Blue Dog Democrats.
“[Milton] Friedman’s claim that monetary policy could have prevented
the Great Depression was an attempt to refute the analysis of John Maynard
Keynes, who argued that monetary policy is ineffective under depression
conditions and that fiscal policy — large-scale deficit spending by the
government — is needed to fight mass unemployment. The failure of monetary
policy in the current crisis shows that Keynes had it right the first time. And
Keynesian thinking lies behind Mr. Obama’s plans to rescue the economy.” Paul
Krugman Published: January 4, 2009 [This is Milton Friedman not Thomas Friedman of the NYT. ed]
Keynes got a lot of criticism for his mindless fluff [except from
dictators like Stalin, Hitler and FDR], some extracted below, because his phony
government infrastructure spending recommendations were tried by Hoover, FDR and others in various countries and they did not work. Our longest stretch of good economic times only came after the Carter Malaise and was the result of Paul Volker implementing Monetarist policies: do not the
let the money supply grow faster than real growth. That worked.
The
government is particularly inept in creating meaningful jobs that produce
efficient goods and services and prefer to spend money to hire losers to sit on
‘education’ programs, run around and inspect things or give out free needles to
drug addicts. FDR had people raking leaves in the forests.
The best
response to this slowing economy would be to eliminate corporate taxes
for two years and cut most of the bureaucratic crap and red tape out of the
government. Agencies like HHS, HUD, Fanny Mae, EPA, Head Stop and others should be
canned.
Krugman gets around handing out
money like this:
“This is a problem with which Keynes was familiar: giving money
away, he pointed out, tends to be met with
fewer objections than plans for public investment “which, because they are not wholly
wasteful, tend to be judged on strict
‘business’ principles.” What gets lost in such discussions is the key argument
for economic stimulus — namely, that under current conditions, a surge in
public spending would employ Americans who would otherwise be unemployed and money that would otherwise be sitting idle, and put both
to work producing something useful.” Paul Krugman
Published: January 4, 2009
This is
an extra special statement and quite predictable from the New York Times or one
of the lackeys who scrawl messages on the walls therein. It says:
[1] There
is money to spend when there is a
huge deficit and falling tax revenues and the Fed is just printing
‘money.” So, that is false.
[2] Idle
people would have freshly printed money to spend not tied to any budget. That
is foolish.
[3] That
idle people raking leaves or howling at the moon or sharpening used syringes
would be doing something useful.
And this is supposed to be
‘economic’ advice?
“So this is our moment of truth. Will we in fact do what’s
necessary to prevent Great Depression II?” Paul Krugman
Published: January 4, 2009
So, our economist ends with the gloom and doom
threat that if we do not spread money around so idle people can do some thing
useful that we will fly face-forward in to The Great Depression II?
I have a cost-cutting scheme for the NYT as they are going
broke because they publish little but political fluff so here it is: Whenever
they want to publish an article by Krugman that it read like
this:
“Krugman
Says: Raise Taxes for Any and All Reasons #1”
Paul Krugman Published: Month, day , year.
And just
update the little pink number. That would be more efficient as it would [1]
put aside some news print and spare a few trees, [2] would be concise and to
the point, [3] would be easy for the dumbest liberal to understand and [4]
would not violate any leftist belief.
Progress.
rycK
Comments
to: ryckki@gmail.com
The Tax-Cut Zombies By PAUL
KRUGMAN Op-Ed Columnist. Published: December 23, 2005.
http://select.nytimes.com/2005/12/23/opinion/23krugman.html?hp