Friday, November 19, 2010

Paul Krugman On The Axis Of Evil

Haha.  Not really.  I almost never agree with Paul Krugman.  Krugman in a politician and an ideologue who uses his bully pulpit at the New York Times and the Sunday political circuit to further suspect political views rather than anything of proven mathematical value to economics. 

In fact, Krugman supported many of Clinton’s economic policies which are substantially to blame for this crisis as we have noted before.  ie, He bought the home cooking of ideology spewed by Greenspan, Rubin, Summers, Gramm, Gingrich, Clinton, Gore and all of those other baby boomer idiots of the 1990s. 

But Krugman comes down from the mountain of ideology and appeals to the truth in his remarks of  propaganda from China, Germany and the Republican Party on Federal Reserve policy.   Krugman pretty much rehashes the exact same remarks we have made on here. 

Look, I have been writing for two years that the Fed should be printing money.  And for anyone who eschews ideology and truly understands economics and monetary policy, I cannot imagine what grounds of reason they would use to disagree.  Maybe dissenters who really understand what they are talking about rather than spewing religious economic or monetary ideology should enlighten me. 

But what I don’t support is that they print that money and give it to banks to continue to destroy our economy and others around the world while denying Americans access to their own capital.  I support printing money, giving it to the Treasury and having government spend it on programs that benefit the people of this country.  (Treasury issues debt, the Federal Reserve buys it and places the proceeds in the Treasury’s Federal Reserve account for expenditure by the federal government on democratic programs to rebuild our country and serve our people, some of whom are in serious economic trouble through no fault of their own.)   

Unfortunately, that is apparently not ever going to happen because our government is captured by massive political corruption.

posted by TimingLogic at 12:57 PM

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