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I'd be on board with the Libertarians if they weren't for open borders. That's just stupid beyond belief.
Until then: P*** off.
Was Ron Paul for open borders? No.
A nation without borders is no nation at all. After decades of misguided policies America has now become a free-for-all. Our leaders betrayed the middle class which is forced to compete with welfare-receiving illegal immigrants who will work for almost anything, just because the standards in their home countries are even lower.
Yes Krugman advocated for the housing bubble,as this quote and the previous one in the o.p. point out
"Economic policy should encourage other spending to offset the temporary slump in business investment. Low interest rates, which promote spending on housing and other durable goods, are the main answer."- Paul Krugman, October 2001
Yes Krugman advocated for the housing bubble,as this quote and the previous one in the o.p. point out
"Economic policy should encourage other spending to offset the temporary slump in business investment. Low interest rates, which promote spending on housing and other durable goods, are the main answer."- Paul Krugman, October 2001
From the quote from October 2001 (immediately following 9/11), Krugman said:
Quote:
Post-terror nerves aside, what mainly ails the U.S. economy is too much of a good thing. During the bubble years businesses overspent on capital equipment; the resulting overhang of excess capacity is a drag on investment, and hence a drag on the economy as a whole.
In time this overhang will be worked off. Meanwhile, economic policy should encourage other spending to offset the temporary slump in business investment. Low interest rates, which promote spending on housing and other durable goods, are the main answer. But it seems inevitable that there will also be a fiscal stimulus package.
He's calling for a cut in interest rates to spur consumer spending, the hope being that increased consumer spending in the short term will offset the decrease in business spending in the short term.
The only way one can spin that into a call for a housing bubble is to be either dishonest or stupid.
He's calling for a cut in interest rates to spur consumer spending, the hope being that increased consumer spending in the short term will offset the decrease in business spending in the short term.
The only way one can spin that into a call for a housing bubble is to be either dishonest or stupid.
Other than to note that he says it's needed to spur housing I suppose you are right. Krugman has constantly called for more bubbles to replace the one that just popped.
The Austrian school basically wants a deflationary collapse and somehow that will allow a recovery to happen. A bunch of extreme reactionary austerity ghouls who push genocidal austerity is what they are.
Krugman has been proven correct quite a while ago...
Only in your mind. Keynesian economics eventually implodes in on itself. It isn't sustainable. You can't fix one bubble with another, and that's exactly what they've been doing.
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Keynesian economist Paul Krugman is one of the most celebrated financial minds in the world today. The mainstream media immediately seeks Krugman for a quote, he is invited to television talk shows, he publishes frequent columns in the New York Times and liberals usually cite Krugman to put forth their agendas.
One thing is wrong with that, though: he has been wrong on mostly everything on the economy for the past decade. Remember him calling for a housing bubble? That was him. Remember him calling for a disaster (I.E. space invasion/Broken Window Fallacy)? That was him. Remember him urging for the government to spend more than its astronomical numbers already? That was him.
It appears that Krugman, a grown kibitzer over the years, is just as bad, if not worse, as Federal Reserve Chairman Ben Bernanke, President Obama, Massachusetts Senator Elizabeth Warren, California Congresswoman Maxine Waters and other esteemed officials espousing the liberal or Keynesian mantra.
Even prior to the economic collapse in 2007 and 2008, adherers to Austrian Economics, such as retired Texas Republican Congressman Ron Paul, Peter Schiff, Jim Rogers, economist Robert Murphy and so many others, knew what was going to happen before the establishment continued to assure Americans there was no recession.
The Austrian school basically wants a deflationary collapse and somehow that will allow a recovery to happen. A bunch of extreme reactionary austerity ghouls who push genocidal austerity is what they are.
Genocide, right.
You can tell when someone has no argument, they have to fall back on things like genocide.
"I have no valid argument but I'm telling you, many people are going to DIE"
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