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[ame]http://www.youtube.com/watch?v=WEoGKpnutyA[/ame]
Krugman doesn't show for the second segment.
Krugman doesn't show for the second segment.
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What Krug FAILS to mention is that as long as there is govt intervention, there can never be a true free market for a Captialistic-based economy.
What Krug FAILS to mention is that the extra thirty percent debt increase that he'd be OK with if it could get us out of a depression is the most fantasy like scenario of all solutions. Yes, more debt equals more lending equals more money going into the economy equals an expansion of our general market, but it also NEEDS to be paid back in order to work. When money is given out and not repaid, what happens to that currecy's value? The whole reason anyone would buy treasureys is a faith in the currency they are investing in. Look at what happened leading up to 2008. A crapload of money was created and sent out for lending and getting homes, but so much of that lending defaulted. The money was not replaced. No one wants to mess with a system like that. This is why the Fed (or the investors that the Fed is funding) is the biggest buyers of our worthless treasureys. -
Savings, precious metals, deficit financing? Sounds complicated, lets just keep doing the same thing we're doing now. I like the helicopter idea plus I trust people in Washington. I mean, why would they not tell truth?Comment
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Krug is a liberal nut-job and is known for bailing during interviews when the heat gets turned up on him.Comment
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