Krugman on the Economy

Friday, March 05, 2010

Nobel Prize-winning economist and New York Times op-ed columnist, and the author of The Return of Depression Economics and the Crisis of 2008, Paul Krugman talks about his most recent column on banking reform and the latest jobs numbers.


Paul Krugman
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Comments [15]

Just wondering why Gingrich was invited on and Krugman had to ask. I know you like all sides of an issue, Brian. But really! Gingrich, like so many on the right talks so much nonsense to put it kindly. Pushing Dinesh D'Souza's book.

"What really motivates Barack Obama is an inherited rage — an often masked, but profound rage that comes from his African father; an anticolonialist rage against Western dominance, and most especially against the wealth and power of the very nation Barack Obama now leads."

That's the insightful D'Souza Gingrich is pushing.

And as far as "more revenue" for the gov't if you follow his ideas, Reagan re tread. They said that over and over about Reagan's administration to try to mitigate his monster deficits. We've done the tax cuts for the rich. They increased the national debt 10 fold and we are almost in another depression. And Gingrich didn't have a problem with it. Only with a Democratic president who believed you should stop making people hate and resent the government. Listen to what people say who aren't tea partiers. They want the gov't to DO something to make things better. And they sided with Clinton over shutting the gov't down.

As Gingrich and the others on the right love to say, he is "out of the mainstream" "out of touch"

Sep. 28 2010 01:57 PM
Chandler Hovey from NYC

What would Paul Krugman propose to entice savings to be invested in job and tax revenue generating companies?

Mar. 12 2010 04:26 PM
Eugenia Renskoff from Williamsburgh, Brooklyn

I also feel that jobs are not what they used to be. In my case, I am not underemployed. I am unemployed and things don’t look too good. I have tried practically everything so far. I respect Paul Krugman. All the talk in the world will not solve this problem. Eugenia Renskoff

Mar. 05 2010 02:09 PM
GG from New Jersey

Once again; no discussion of the SELF-EMPLOYED. We are not eligible for any unemployment insurance yet we typically pay fully for own health insurance (or lose it). Our mortgage and monthly bills are still due and we have been struggling for the last 2 to 3 years (incomes have dropped 80% to 100%)but no safety net available until you lose everything you have.

Mar. 05 2010 11:21 AM
GW from Manhatan

you know what I think.. ok lets NOT buy houses. we already have over 16 million surplus housing units in this country. No more mortgages for those who cant "afford them" and you know who that will hurt? Well usually when you have a surplus of inventory and no one is buying or able to buy ... good old supply and demand forces of the capitalist holy grail kick in and prices drop like a rock. And who will that hurt? All these republican upper and middle class social darwinists that LOVE to hate on lifting all the boats. As the value of their precious "assets " tanks .. they will holler and wail ! The Rich own 90% of the wealth in this country .. lets devalue it and stick it to them like they are trying to stick it to the 95% of the rest of us.

Mar. 05 2010 10:49 AM
Catherine from Rockville Centre

Mr Krugman-

I have a little inheritance. In this Republican Dickensian climate, I feel that I have no incentive to save any of it. I might as well spend it. Because there's no national health plan, I know that the minute I get sick, all my money will be gone. So, I might as well go on vacation every week until it's gone and enjoy it.

I also see no incentive to buy a house.

This brand of Republicanism does the opposite of what it says because when there is no safety net, there is no reason to save.

Mar. 05 2010 10:25 AM
sophia from Yonkers

Lessons from Washington: go ahead and take on mortgages you can't afford, the government will pay for it. You don't have to work, the government will pay you.

Mar. 05 2010 10:23 AM
Amy from Manhattan

Sen. Kyl has obviously never been on unemployment. People are *required* to keep seeking employment, & to report their efforts to find it, in order to collect unemployment benefits.

Mar. 05 2010 10:23 AM
Alan from New York

What does Professor Krugman think of the idea of a health insurance mandate with an opt-out option that Paul Starr put forth in his NY Times op-ed piece yesterday, which Starr said could reconcile Democrats and Republicans?

Mar. 05 2010 10:21 AM
Jennifer from Brooklyn

Thank you Brian for pointing out the Senator only wanted to make sure the Democrats followed pay-go rules. It's a shame Krugman has turned into nothing more than a political hack.

Mar. 05 2010 10:20 AM
Bob from Manhattan

If you want raw partisanship, there's no one better than Paul Krugman.

How does this produce radio that brings the community together?

Mar. 05 2010 10:19 AM
Chriss from NJ

Oh, Obamacare is the Republican plan from 20 years ago.

If only Obama were Clinton.....

If only.

And as Mr. Krugman how the Mass plan is working out now.

Moreover, if this plan is such a conservative plan as Mr. Krugman says, why should a liberal support it?

Mar. 05 2010 10:17 AM
GW from Manhatan

we dont have to be concerned about our "debt" to China. Its recycled dollars that because of this debt make China a stable and developed trading partner and not the Communist menace that made us spend billions and lose over 55k lives in the vietnam and korean wars. Thats the price you pay for friendship and integrating an enemy into the world system. Why is it that no one talks about the benefits of expanding healthcare. National Healthcare creates JOBS! Jobs ! Jobs! increases M1 and M2 , all of which generates TAX revenue for the government, local investment and development and puts dollars in the pockets of Americans from the coffee vendors outside clinics to the staff in the clinics and all the economic chains that link into the services that will be offered. The argument AGAINST health care is secretly a bid to disenfranchise and lower the standard of living of Americans. The Rich just don't feel right unless they have a vast pool of poor to manipulate to their liking. Not unlike men that prefer that women remain dependent on THEM for their lively hood. Poverty brings submission.

Mar. 05 2010 10:15 AM

I spent some time with a Republican a couple weeks ago and it was pretty amazing to hear the stuff that came out of his mouth. He's a smart guy, but the stories just came straight off some right wing lie machine.

He said that homeowners were taking pride in the fact that they were screwing over the banks by walking out of their mortgages. Then, in the same breath, told me that a lot of these homeowners shouldn't even be called homeowners because the bank owns their home. Do you see the contradiction there? WTF?

He went on to say that Pinochet was bad for Chile, but that without him they probably wouldn't have had such a great economy now.

Then he said that racism in America didn't exist anymore. Instead, he blamed the culture of African Americans for the fact that they get through schools without learning to read. What world does he live in?

I only point this stuff out because these little lies go out there and falsely reinforce bad Republican ideas.

Mar. 05 2010 09:50 AM
George from Bay Ridge

How concerned should we be about owing debt to China?

What does Mr. Krugman think of the situation in Greece? Could it happen here?

Mar. 05 2010 02:03 AM

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