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 … Read more
Tag Archive: Keynesian economics
Paul vs. Paul
Ron Paul and Paul Krugman had a debate about economics (apologies for the link, which auto-plays). You can read Tyler Cowen’s commentary here. I agree with his final take:
There were too many times when RP simply piled polemic points on top of each other and stopped making a sequential argument. He overrates the costs of inflation, including in the long term, and for a believer in the market finds it remarkably non-robust in
CBO downgrades the Patronage Bill
In a move that doesn’t surprise people like me a bit, and which the LSM will simply ignore and thus allowing others that feel unless the LSM says it word for word, it isn’t so, we now find out that the stimulus patronage bill has had it’s price tag increased and its positive impact majorly downgraded:
Recovery: After nearly all the stimulus money has been spent, the Congressional Budget Office now admits it
Mythologizing the Myths
Kevin Drum has a post up addressing various “Right Wing Myths” about the economy. Some of these myths are self-refuting: he claims the stimulus worked because economic models indicate that it should have worked, he repeats the claim that 1937 proved Keynesian theory (ignoring that 1946 refuted it), he pretends that the Reagan tax cuts didn’t stimulate the economy, he ignores an anti-correlation between unemployment and profits, he claims that since a narrow plurality cite … Read more
Goolsbee Off Message
I always kind of liked Austan Goolsbee. He was one of the few reasons I had hope that this Administration wouldn’t completely screw the economic pooch. After he resigned, I saw him on The Daily Show and he was giddy as a schoolgirl at the prospect of leaving politics.
And now it looks like Austan is off-message:
Former Obama administration economic adviser Austan Goolsbee said Thursday that if given a second chance he would
Leftist scumbag fails to see the irony of his own pronouncement
Krugman, that jackass that was given a Nobel prize in Eonomics for being a good old fashioned Keynesian idiot and the politics that permeate the entire Nobel prize process, is out with another doozy. This time it isn’t some economic idiocy, but him saying that Fake heroes like Bernie Kerik, Rudy Giuliani, and, yes, George W. Bush raced to cash in on the horror.
I am not surprised Krugman feels this way. I recall … Read more
The Slowest Stimulus
Barack Obama is supposed to talk jobs tonight. Of course, what he’s really going to talk is spending, likely on our “crumbling infrastructure”. Gregg Eastebrook has a roundup of what our efforts to deal with this cost:
*Boston’s Big Dig, mostly funded by the federal taxpayer though benefits went exclusively to Massachusetts, was supposed to take 10 years at a cost of $6.2 billion in today’s dollars. Instead it took 21 years and cost $22
A Degree In Economics+ 1 Dollar= A Cup Of Coffee
No one ever went broke underestimating the inefficiencies of government, such as why the Law of Economy (Ockham’s razor) is never a factor when bureaucrats get together on the topic of economics. Sure, more money can be thrown at it, with more committee’s committed to it, and more studies called for employing even more people to analyze it, when the “it” involves something so complicated, so convoluted in scope that even approaching a modicum of … Read more
Krugman Chugs Keynsian Kool-Aid
Yesterday, we joked on Twitter that Krugman would say that the earthquake wasn’t “big enough”. Sure enough, someone put up a fake Paul Krugman profile on Google+ making that argument. Krugman has distanced himself from the idea (although a number of his followers agreed with the comment). But let’s remember who we’re dealing with. Here is Krugman on September 14, 2001 arguing that 9/11 would simulate the economy, especially by eroding resistance to counter-cyclical spending. … Read more
Consensus! The debate is over…
Well, not really but that’s how they operate on the left, so I wonder how they will react to this revelation:
The majority of economists surveyed by the National Association for Business Economics believe that the federal deficit should be reduced only or primarily through spending cuts.
The survey out Monday found that 56 percent of the NABE members surveyed felt that way, while 37 percent said they favor equal parts spending cuts and
Recent Comments
- Kimpost on The Green Fleet
Drastic changes are rarely good, so I'd agree with you on that. But if we are talking long term? Could... - blameme on The Green Fleet
The whole world is dependent upon oil. You upset that price drastically and watch the markets tumble. Can the price... - Kimpost on The Green Fleet
Oil has to be at the prices it is today – period. Or we have no economy and we have... - blameme on The Green Fleet
Again, CM, it seems to me that you want to use "intangibles" to raise the price of oil so high... - Seattle Outcast on The Green Fleet
God, that is such bullshit. You didn't even go the slightly plausible route of trade tariffs and protectionism and... - CM on Romney the Bully
Don’t you ever,ever blame another human being for knocking you for biased links. The Times-Picayune,really, how does the Daily Kos... - CM on The Green Fleet
Nothing I haven't already mentioned. By everyone taking on the lower air quality and associated health risks/costs and the environmental... - Seattle Outcast on The Green Fleet
CM - please provide, in exacting detail and your own words (with references from neutral and accepted sources) exactly how... - Mississippi Yankee on Romney the Bully
salinger This article has a little more info then the two are no doubt inextricably linked distraction you're attempting. Here... - salinger on The Ex-Pat Act
So anyhow where do you stand on this idea? Well - the whole game is rigged anyways. Singapore is a really...
