The Deception of a Liberal

Read this. Then read this. The first is Paul Krugman praising Argentina’s “economic model” of plundering, theft and deception, claiming its performance has been comparable to Brazil’s. The second is Juan Carlos Hidalgo’s response pointing out that Krugman (1) uses Argentina’s official inflation numbers, which economic journals have stopped using because they are transparent lies; (2) starts his analysis two years after Argentina’s recession began; (3) compares Argentina with a relatively poorly-performing country (10 South American countries have done better); and (4) ignores that Argentina’s growth, such at is, is about to blow up in their face.

A bit more about that last point, since it’s relavent to the “spend yourself to prosperity” policies that Krugman and the Left are embracing for America and the Euro Zone. Inflating economies can give the illusion of prosperity. But it always end the same way — with a massive hangover. In the 1960’s and 70’s, the US deliberately inflated its currency because of a Keynsian piece of bullshit called the Phillips curve. It blew up in our face under Carter and we had to endure a brutal hangover once Volker got things under control. Argentina’s economy is already cracking: I noted earlier their nationalization of a Spanish oil company and their saber-rattling on what Obama calls “the Maldives”. These are not the actions of a country experiencing real economic growth.

Back to Krugman. This is not an isolated incident. He is frequently factually challenged. He asserts the Euro-zone is “slashing spending” when spending is flat (and rising outside the PIIGS). He claims Hoover slashed spending when Hoover increase spending 80% in response to the Depression and was denounced by FDR for being a socialist. As we saw in the debate with Ron Paul, he ignores the post-War prosperity that followed Truman’s massive spending cuts.

And he’s one of the most influential liberals in the country. It just goes to show that fact don’t matter when you’re telling people what they want to hear.

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  1. Seattle Outcast

    I find Krugman to generally just be an idiot and a liar. I’m baffled at how people hang their hat on his editorials as if there is the slightest bit of truth in anything he writes – it’s like expecting the used car salesman to actually give you a good deal on a car that isn’t a lemon….

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  2. AlexInCT

    I find Krugman to generally just be an idiot and a liar.

    But he is credentialed and even got a Nobel prize!

    Look, if we had any real reporting in this country, we would have exposes about how people like Krugman say one thing when the guy they need to spread the propaganda to help the cause, and then another when they are actually the ones in charge and want to take advantage of the situation to line their own pockets.

    That’s why deficit spending of a measly $250 billion per annum, $4.7 trillion of new debt in 8 years hallmarked the end of our world, unemployment – the measurement of people actually not working, because today the numbers are skewed, and skewed drastically lower, as many people unable to work have, despite the near 3 year extensions, run out of time to collect unemployment – between 4 and 5% was an unmitigated disaster, growth under 5% indicated a coming recession, and terrorists being captured or killed when Bush was president were all catastrophes.

    Now we have trillion plus annual deficits, added over $5 trillion in just 3 years, with twice that much coming down the pike in the next 5 years, unemployment at 8-10%, with the real numbers by some accounts putting the number of unemployed or under employed at over 16%, anemic real growth that can not break 2.25% with constant predictions that the economic upturn is right around the corner, practically always followed by downward revisions of whatever pathetic number was used to pretend things are well, more wars and killing than under Bush.

    The left’s only concerns remain free contraceptives for all, fabricated race baiting crisis after crisis, as long as they can claim it is the right minorities being hurt, how much more other people that have not started sucking up to the leftist intelligentsia have than they do, and with growing government and controlling the sheeple. But most people with the attention span of a ADHD child hopped on Mountain Dew and no interest in facts other than the occasional LSM propaganda, think they mean well. Go figure.

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  3. Seattle Outcast

    Did you see where Tom Brokaw basically said that the annual black tie event for the white house press corp was ruining journalistic integrity? Astounding – I didn’t think he was capable of such insight.

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  4. Hal_10000 *

    Did you see where Tom Brokaw basically said that the annual black tie event for the white house press corp was ruining journalistic integrity?

    Um, there’s such a thing as journalistic integrity?

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  5. Seattle Outcast

    Not really – it’s one of those “concept” things that have never actually existed in reality.

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