Once upon a time Nobel Prize winning economist Paul Krugman actually had some interesting thoughts about economics. That was before he became a political hack. Here is Krugman on the deficit in 2004:
It’s comparable to the worst we’ve ever seen in this country.
It’s biggest than Argentina in 2001.
Which is not cyclical, there’s only a little bit that’s because the economy is depressed.
TONY JONES: When you say the not-too-distant future, what does that mean?
We know there may be a crisis in paying, for example, in social security…
We have the huge bulge in the population that starts to collect benefits and earn the next decade.
Here is Krugman on the deficit this week:
The 2004 deficit that Krugman decried was 3.6% of gdp. The deficit for 2012 which Krugman assures us is no problem was 7.3% of gdp. What a mystery! What could explain this difference in reaction? Two words: Bush and Obama. Krugman did not invent, of course, this type of partisan hackery where an “expert” says contradictory things based upon his partisan allegiance, but it is amazing that in the age of the internet he thinks he can get away with it. Go here to read a column which marks Krugman’s pivot point on the deficit. It came out, wait for it, in December 2006, right after the Democrats won control of Congress.
Fantasies?
Yes, people have been warning about deficits and the national debt since I’ve been old enough to vote but Prof Klugman should remember that in the story of the boy who cried “Wolf!” the wolf finally came.
Their sole purpose is to advance the narrative and provide continual propaganda for Obama and the progressive nightmare.
The post-modern academy seamlessly imbeds fabrications into facts. For these varlets all reading is arbitrary and personal. Theory cannot be proved only disproved. They specialize in ignoring the facts.
They invent their facts, deny/ignore errors, display arrogance and execrate anybody with opposing evidence.
Faked but accurate. For these liars, truth, facts, realities, and history do not exist. They are clay on their potter’s wheels. They use them to invent factoids, to do good as they see it. And whatever they need to twist or omit is justified by their purity of intentions – and they always have the purest of intentions. False but justified.
They fall back on hysterics, insults, lies and weeping and gnashing of teeth to advance their horrid ideas and destructive policies. The facts and truth are not susceptible to their calumnies, distortions, distractions, exaggerations, omissions, and outright lies. They eithyer subvert or suppress the truth.
In conclusion, economics, in particular, and the social sciences, in general, are mind-numbing hokum. No rational person should have any respect for the so-called disciplines.
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