The Third Depression
I really have a high disdain for Paul Krugman as an economist. Krugman is a better journalist than he is economist. I have yet to see anything out of him that isn't driven by ideology or flawed perspectives of this crisis and economics in general. Just as with President Obama, both men may be brilliant in their own right but neither understand practical and usable economics.
Krugman is now writing (at the title link) that we are likely entering the third depression in American history. Well, the world is most definitely in the early throws of a massive depression but we've been talking about that for years. Well before there was any sign of trouble in the economy. And nothing Krugman or any other economist is currently recommending is going to change that. Krugman is substantially focused on the government backstopping the economy as many now call Keynesianism. Although I'm not an expert on historical perspectives of Keynes, I think I have seen enough to conclude Keynes wouldn't support a lot of what is being done in his name. But, of course, this can be said of many historical figures including Jefferson, Lincoln and others we have talked about on here. Frankly, I don't see any great political minds from American history who would support anything being done in Washington today. Even attempted acts of virtue, such as a health care overhaul or financial reform, are completely corrupted.
Krugman is so blinded by his ideological views that the only way he sees out of this is more government. Even though our government has never reached this level of spending as a percentage of GDP. If Krugman would challenge his beliefs and actually think critically and creatively about what is going on, he would come to a different conclusion. But, as is the case with most people by the time they reach Krugman's age, they are unable to see the chess board clearly. Their creativity and ability to think outside of the box is polluted with too many lies of the mind. Paul Krugman clearly does not walk the path of the Buddha.
Indeed we are in the early phases of a global depression but Krugman doesn't have any of the answers as to how to get out of it. And just like the Great Depression, some countries will be affected much more substantially than others. Some will recover more quickly than others. Some will come close to complete collapse or will most likely collapse. We've laid our cards on the table as to who those countries are many times. As we have said countless times, the United States will lead the world out of this mess. But only when we rid ourselves of yesterday's thinkers. That most definitely includes Paul Krugman. Only then will be be able to embrace the transformative ideas and empowering democratic and uniquely American economics that will allow the economy to recover.
Krugman is now writing (at the title link) that we are likely entering the third depression in American history. Well, the world is most definitely in the early throws of a massive depression but we've been talking about that for years. Well before there was any sign of trouble in the economy. And nothing Krugman or any other economist is currently recommending is going to change that. Krugman is substantially focused on the government backstopping the economy as many now call Keynesianism. Although I'm not an expert on historical perspectives of Keynes, I think I have seen enough to conclude Keynes wouldn't support a lot of what is being done in his name. But, of course, this can be said of many historical figures including Jefferson, Lincoln and others we have talked about on here. Frankly, I don't see any great political minds from American history who would support anything being done in Washington today. Even attempted acts of virtue, such as a health care overhaul or financial reform, are completely corrupted.
Krugman is so blinded by his ideological views that the only way he sees out of this is more government. Even though our government has never reached this level of spending as a percentage of GDP. If Krugman would challenge his beliefs and actually think critically and creatively about what is going on, he would come to a different conclusion. But, as is the case with most people by the time they reach Krugman's age, they are unable to see the chess board clearly. Their creativity and ability to think outside of the box is polluted with too many lies of the mind. Paul Krugman clearly does not walk the path of the Buddha.
Indeed we are in the early phases of a global depression but Krugman doesn't have any of the answers as to how to get out of it. And just like the Great Depression, some countries will be affected much more substantially than others. Some will recover more quickly than others. Some will come close to complete collapse or will most likely collapse. We've laid our cards on the table as to who those countries are many times. As we have said countless times, the United States will lead the world out of this mess. But only when we rid ourselves of yesterday's thinkers. That most definitely includes Paul Krugman. Only then will be be able to embrace the transformative ideas and empowering democratic and uniquely American economics that will allow the economy to recover.
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