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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Joe Btfsplk who wrote (983214)	11/22/2016 12:32:37 AM
From: i-node	1 Recommendation Recommended By TideGlider Respond to of 1577883

Unfortunately, politicians of all stripes have come to support the "stimulus" idiocy. Same as with climate change. If you tell a lie often enough ...

To: Joe Btfsplk who wrote (983214)

11/22/2016 2:41:03 AM

From: koan

Read Replies (2) | Respond to of 1577883

The right wing has ragged on Krugman for a long time because he is a liberal who showed that the right wings supply side economics, called "tinkle down economics", because it consists of the rich peeing on the heads of the middle class and poor.

What is interesting, is how you can so cavalierly second-guess the tens of thousands economists in the world that have studied what Krugman talks about and have come to the conclusion that he is brilliant.

Are you so educated in economics that you can qualify to be his judge?

You also completely misunderstood the point of World War II. Yes I know that is no way to provide stimulus, it is always better to provide stimulus building things like infrastructure.

But Krugman's point about the aliens, is that we would stimulate the economy spending vast amounts of money to protect ourselves against them and that stimulus would provide a vibrant economy. If you go over to Krugman's web page, you can see exactly what happened during the second world war.

Going into the war there was very high personal debt. But the second world war was full unemployment and that allowed people to pay off their debt, pay taxes and build and start new businesses.

By the end of the second world war, people had mostly pay down their debt, started new businesses and with all that new tax money, the US was able to pay down the huge borrowing the federal government did during the second world war.

On Krugman's website he has a graph that showed that is exactly what happened.

And Keynesian economics is taught in a lot more top universities in the world than supply side economics.

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As an economist, Krugman is a buffoon. Still, he is a favorite of a ruling class that detests the idea of a free people not under their thumb. His Keynesian ideas are one tool of deception used to accomplish that goal. As such, he gets the ink and legitimate economists are brushed aside. This will end - eventually.