[UPDATE below]
Despite the fact that Obama has run up the greatest deficits in US history, running us into severe debt at about 1.4 trillion of debt per year and 2.9 trillion in new social security obligations per year, the senseless Nobel prize winner has decided that we’re headed into our country’s third depression because of those silly people who are “preaching the need for belt-tightening when the real problem is inadequate spending.” Despite the crazy up-and-down business cycles and bank panics caused by inflationary policies which have deprived the dollar of 97% of its gold purchasing power in just forty years, and which has created total governmental unfunded liabilities of around $108 trillion dollars, or more than $600,000 per taxpayer, Krugman wants us to believe that the real problem we face is a lack of government spending. His latest statements reveal him for what he really is: a man whose so-called “economic” advice depends neither on theory nor on economic data, but rather on nothing but a fanatical faith that it is more spending which is always the cure, and that all economic problems are caused by too little government. It should be no surprise that a nation which, like the US, considers Krugman a great economist is experiencing economic troubles.
Craziness.
Meanwhile, the European Union has outlawed selling eggs priced by the dozen. Despite the fact that customers almost universally prefer to buy by the dozen, the EU government has decided that the only right way to sell things is by weight, so that the customer can know exactly how much by weight he is getting. This is yet another example of how governmental interventionism imposes unreasonable and harmful demands on the customers and business under their “care.” It should be no surprise that a system which does not give people basic freedom to buy eggs by the dozen should be in a perpetual currency crisis.
Craziness.
UPDATE: The Mises Institute’s Grayson Lilburne does a great job of explaining how Krugman rewrote the historical record of 1873 and several years following to promote his hogwash.
One Trackback
[...] ve'al timkor — ואל־תמכר never sell out the truth Skip to content aboutcomments policyno copyrightinformational freedomcontacting mestuffbible resourcesgreek new testamentrobinson and pierpont greek new testamentcoptic new testamentenglish biblestextual criticismpeshitta new testamenthebrew biblelxxpioneer bible translatorsapologeticsliberated informationstatsme « the faces of interventionism: paul krugman and the ban on eggs [...]