Mon, 29 Dec 2008

Fifty Paul Krugmans

Paul Krugman says that the state governors are acting like Fifty Herbert Hoovers. He thinks this is wrong. He thinks they should spend and burn money like he wants the federal government to do. Maybe he's right. If he's right, then the 62 counties of New York State should also borrow like maniacs and spend like lunatics. And if they should, then so should the citizens of New York State. Borrow! Spend! Like there's no tomorrow! Don't worry, the Fed has made sure that we'll have massive inflation, so you'll only have to pay back a fraction of the money you borrow!

Paul Krugman is a doody head!

Like all bad economists, Krugman is paying no attention to the fact that there's a REASON why people aren't spending their money like, well, like a Krugman (we need to start using "Krugman" as a synonym for "foolish idiot"). Here's a hint: if you see someone who isn't taking into account all the effects of a policy they propose, then they're being a bad economist. As soon as you identify a group of people being ignored, or a time (now or later) being ignored, you can immediately label that person a bad economist. It's up to them to explain why they're ignoring those people or that time.

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