Paul Krugman, Professor of Economics and International Affairs; 2008 Nobel Prize in Economics (Apr 18, 2009 at Princeton University) Par of the 2009 Princeton Colloquium on Public and International Affairs.
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Is this a second Great Depression? It’s going to be worse than the first one. We’re going to have to default and we’ll see a currency crises. I can fathom no way that we can avoid this. I just hope the government doesn’t try to blame it on the free market and grab more power from us and promise to protect us from the very problems it caused. That’s my fear though.
what an arrogant moron
Isnt it interesting …. 1930s …. depression …. upheaval in Germany – inflation …. Zionism. 2008 – 2010 = economic worries again …. upheavals in United States and Europe … ZIONISM … KEY WORD = ZIONISM …. Greenspan = jew?? … Responsible for false credit and lending …. responsible for banking irresponisbility ???? Again ZIONISM is to blame. Film and music industry dominated by jews. Film and music responsible for todays “sick” culture?? AGAIN … ZIONISM is to blame !!
The most insane aspect of the crisis is the government insisting on putting those that caused the crisis in charge of resolving it…
political favors.
“Why are the idiots in charge of the collapse of Western civilization put in charge of preventing it? ”
Indeed. Outside of the idiocy in government and bureaucracy, the man who argued that species adapt rather than change through the reproduction and natural selection is discredited and no longer consulted upon as an expert or for guidance.
The man that led us into 2 unjust, illegal wars is someone we no longer trust
But this is government we’re talking about.
Going back to Keynesianism (Depression economics) is like telling NASA to abandon Newton’s Laws of motion and only consider Aristotle’s theory on perpetual motion when it comes to launching spacecraft.
Keynesian theory was discredited academically in the sixties with models showing it lead to stagflation. The 2000s and the seventies later show that the same occurs in practice.
Krugman want to bring back the old.
arrrrggggg
Why are the idiots in charge of the collapse of Western civilization put in charge of preventing it? Why does no one is ‘government’ even consider that Marc Faber, Peter Schiff or that other guy might be more equipped for the jobs at hand?
What a joke the system is.
If Krugman knew what he was doing, if Bernanke knew what he was doing, according to them this never would have happened.
So by their own admission, they don’t have a goddamn clue.
Krugman’s so called predictions of this collapse were simply ripped off of Schiff and the Austrians. The Austrians were fr more specific of the collapse, predicting the actual fall of Bear Stearns
Right on.
Keynesians (demand siders) want welfare for consumption
Supply Siders want corporate welfare
Austrian Theorists want to let the market work without government intervention,
@mongoose704 Fuck yeah
Supply siders are retards
All keynsians want to do is Tax and Spend
Supply siders want to Cut taxes and triple spending
Austrians are the only ones who actually make sense in their theories
I think this basically proves Peter Schiff was right.
Krugman: “We did everything right, but everything went to hell anyway, weird.”
Peter Schiff: “They’re doing everything wrong and its all going to go to hell.”
You tell me who knows what the hell is going on.
“If we count unemployment like we did during the Great Depression”
No, No, No. That statement is wrong because the unemployment measurements of u1, u2, u3, u4, u5, and u6 did NOT exist during the great depression. If you consider the u6 unemployment rate during the great depression, it would have probably been 40%. (That is just an estimation)
He is a hack who supports every reckless policy that caused the crisis.
So we need more Krugmans, more people that ruined our economy.
Keynes was discredited in the seventies. It’s called stagflation or worse yet (and we will see this) inflationary depression.
yes that same Krugman. He is Keynes’ successor, and he is exactly what we need.
Mine was not a poor comment at all. In fact one of the best here.
Do you want the facts showing Krugman was all for the government creating a housing bubble? In fact he even alludes to the fact he did in THIS VIDEO! Do you need proof that he is for the current creation of a goverrnment bubble today and is for this current massive expansion of debt and deficits and devaluation of the dollar that will lead to an even worse collapse in the future?
I’d like to hear economists of the Austrian school who are gaining credibility as this current crisis unfolds.
Forget supply siders.
Yeah what we need instead is…what?
Unfortunately FDIC didn’t prevent our current crisis. In fact coverage was expanded because it was so ineffectual.
If we count unemployment like we did during the Great Depression, which included workers that had their hours cut or disgruntled workers, our unemployment rate is 17.5%.
The same Paul Krugman that advocated a record exapansion of government through monetary and debt creation and stimulus packages? The same Paul Krugman that is now advocating the creation of a government and bond bubble as necessary to stave off the burst housing bubble he supported? A bubble that could potentially end the dollar and have disasterous global ramifications?
Yeah we need more Krugmans who say let’s solve a debt crisis with by creating record debt.
And yes, we need even fewer Friedmans and phony free market economists.
yeah we need more Krugmans, you know, the Paul Krugman that advocated and cheered the Federal government’s creation of the housing bubble as necessary to counteract the dotcom burst…
you know the housing bubble that caused this mess?
excellent work!
“Boni pastoris esse tondere pecus, non deglubere.” It is the duty of a good shepherd to shear his sheep, not to skin them. Tiberius Caesar, (in his Bio. by Suetonius)