Paul Krugman pulls more shit out of his ass, puts it on a plate with a sprig of mint and says: “Look, chocolate!”
Via Michelle Malkin:
Yesterday, Paul Krugman, Nobel laureate and columnist for the New York Times, appeared on CNN’s “Fareed Zakaria GPS” and had an out of this world idea to turn the economy around:
“Think about World War II, right? That was actually negative social product spending, and yet it brought us out.
I mean, probably because you want to put these things together, if we say, “Look, we could use some inflation.” Ken and I are both saying that, which is, of course, anathema to a lot of people in Washington but is, in fact, what the basic logic says.
It’s very hard to get inflation in a depressed economy. But if you had a program of government spending plus an expansionary policy by the Fed, you could get that. So, if you think about using all of these things together, you could accomplish, you know,
If we discovered that, you know, space aliens were planning to attack and we needed a massive buildup to counter the space alien threat and really inflation and budget deficits took secondary place to that, this slump would be over in 18 months. And then if we discovered, oops, we made a mistake, there aren’t any aliens, we’d be better–”
Krugman’s bat-shit crazy idea about the space aliens is explained by Ace at Ace of Spades:
In the Watchmen — the comic-book version, the real version — Adrian Veidt’s solution to avoiding a coming nuclear war was to fake an alien attack on New York City, an attack so monstrous and arresting that the Soviets and Americans were both frightened enough of a new The Other to put aside their differences and work together to fight the (unreal) menace.
The U.S. tried like hell to stay out of WWII before the Jap attack at Pearl Harbor dragged us into it. By then, Hitler had either taken over or invaded Austria, Czechoslovakia, Lithuania, Poland, Denmark, Norway, the Netherlands, Belgium, Luxembourg, France, Yugoslavia and Greece. The Soviets, who were “allies” by a farcical necessity, became our new enemies right after WWII.
Let’s try Krugman’s idea with a more earthly scenario. Muslims as the hostile space aliens and leftwing Dems, Euros, Chinese, and the “new” Russia as partners in defeating the menace.
- Military Keynesianism Gone Haywire: Paul Krugman Pines For World War … Based On Ginned-Up Reasons (zerohedge.com)
- Paul Krugman, Keynesian Idiot (thepatriotperspective.wordpress.com)
- Prison Planet.com ” Krugman Calls On Government To Manufacture War To Save Economy (gunnyg.wordpress.com)