Alan C. Posted January 6, 2013 Posted January 6, 2013 Why Paul Krugman should be President Obama's pick for US treasury secretary Krugman has been right about the major problems facing our economy, where many other economists and much of the business press have been wrong. A few examples: he wrote about the housing bubble before it collapsed and caused the Great Recession; he has forecast and explained that large budget deficits and trillions of dollars of "quantitative easing" (money creation) would not cause inflation or long-term interest rates to rise; and that the "confidence fairies" would not reward governments that pursued austerity in the face of recession. Most importantly, Krugman is on the side of the majority of Americans. He has written extensively in favor of policies that favor job creation, explained the folly of budget cutting in the face of a weak economy, and opposes cuts to social security and Medicare benefits. Haha, I hope Peter Schiff talks about this on his radio show. Krugman is to economics what wizardry is to science. Krugman repeatedly commits the broken window fallacy and has no clue about economic calculation as documented by William Anderson.
Libertus Posted January 7, 2013 Posted January 7, 2013 No, Krugman should be secretary of treasury, because it would accelerate America's downturn - and only after a collapse of the current system there's hope for recovery.
John Ess Posted January 7, 2013 Posted January 7, 2013 Most hilarious/bizarre comment in the comments section: Trierman: "Krugman is a great Jewish brain of our time. He is the kind of person who would have run the world for all our benefits had the Russian Revolution not been aborted by the moronic anti-Semitism of Stalin. He reminds me of Trotsky in the speed of his intellect and his curtting scorn for those who can't think as fast as he can - and that means all the WASP establishment. Krugman drives the neolithic neo-liberals insane with hate because he steadily points out and ridicules the puerility of their economic superstitions. There is no chance of Obama picking him because Obama is way too timid. He is no FDR." Where to even begin?[^o)]
DoubtingThomas Posted January 7, 2013 Posted January 7, 2013 No, Krugman should be secretary of treasury, because it would accelerate America's downturn - and only after a collapse of the current system there's hope for recovery. Right on. The problem is, I don't think daddy O has any sugar to make off the deal if he nominates Krugman. It's much more likely he'll be farming this one out to an old corporate sweetheart.
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