A Useful Idiot

Paul Krugman:

So minting the [$1 trillion] coin would be undignified, but so what? At the same time, it would be economically harmless — and would both avoid catastrophic economic developments and help head off government by blackmail.

What we all hope, of course, is that the prospect of the coin or some equivalent . . . → Read More: A Useful Idiot

Fire This Clown

Paul Krugman demonstrates his irrelevance yet again:

What was Mr. Rubio’s complaint about science teaching? That it might undermine children’s faith in what their parents told them to believe. And right there you have the modern G.O.P.’s attitude, not just toward biology, but toward everything: If evidence seems to contradict faith, suppress the evidence.

. . . → Read More: Fire This Clown

Why Raise Taxes?

A certain retarded clown* is calling for raising taxes onthe rich:

Yet in the 1950s incomes in the top bracket faced a marginal tax rate of 91, that’s right, 91 percent, while taxes on corporate profits were twice as large, relative to national income, as in recent years. The best estimates suggest that circa . . . → Read More: Why Raise Taxes?

Paul Krugman, Still Retarded

In which Krugman relies on his faulty memory:

So: I’m old enough (you kids get off my lawn) to remember the rise of self-service gas stations, which coincided with the oil shocks of the 1970s. Suddenly gas was much more expensive — and drivers, eager to limit the blow, were willing to pump their . . . → Read More: Paul Krugman, Still Retarded

Maybe I Can Help

Paul Krugman is having difficulty reaching a conclusion:

So Japan, which is spending heavily for post-tsunami reconstruction, is growing quite fast, while Italy, which is imposing austerity measures, is shrinking almost equally fast.

There seems to be some kind of lesson here about macroeconomics, but I can’t quite put my finger on it …

. . . → Read More: Maybe I Can Help

This Explains a Lot

Paul Krugman, on Asimov’s Foundation trilogy:

I first read them when I was a teenager. I was really inspired by the psychohistorians, who used statistics and social sciences to predict the future. I knew it was fiction, but what really struck me is the notion that the science of what people do could be . . . → Read More: This Explains a Lot

Economics and Constitutional Law

In which Paul Krugman again reveals his ignorance:

Let’s start with the already famous exchange in which Justice Antonin Scalia compared the purchase of health insurance to the purchase of broccoli, with the implication that if the government can compel you to do the former, it can also compel you to do the latter. . . . → Read More: Economics and Constitutional Law

Austerity and Reality

Paul Krugman still doesn’t get it:

Watching Europe sink into recession – and Greece plunge into the abyss – I found myself wondering what it would take to convince the chattering classes that austerity in the face of an already depressed economy is a terrible idea.

After all, all it took was the predictable . . . → Read More: Austerity and Reality

Book Review

I give up.

I have tried reading Krugman for several years but I just can’t do it.  I picked up Return of Depression Economics when I was a junior in high school, but I couldn’t finish it.  I use to subscribe to his blog, but I simply found him impossible to read on a . . . → Read More: Book Review: Pop Internationalism by Paul Krugman

Pop Quiz

Q: Who said this:

Second, the idea that U.S. economic difficulties hinge crucially on our failures in international economic competition somewhat paradoxically makes those difficulties seem easier to solve. The productivity of the average American worker is determined by a complex array of factors, most of them unreachable by any likely government policy. So . . . → Read More: Pop Quiz