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Posts Tagged ‘Economics’

Column of the week

Are jobs obsolete?

This is really priceless. It is like the bizarro version of Krugman’s broken world. We don’t need to break stuff to create jobs people… Let’s just stop with this silly thing called jobs! We already have too much!!!! Let the stupid robots work and let’s focus on spending those trust funds!!!!!!

There are so many fallacies and misconceptions here that it would take me an hour to write a complete post – something I could only do if I had a ‘creative activity’ instead of a mean spirited, corporate controlled mindless job.

And this is linked in the front page of CNN! Really, this makes me miss the real commies who at least had an actual theory to propagandize!

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The broken world fallacy

Golden boy has done it again. He now says that we should be literally breaking things just so we can get people back to work! Yes, you heard it right. GB is defying logic in ways I never thought he would!

At least the guy is consistent. If you defend the idea that the government should spend money (a.k.a. stimulus) in things we simply don’t need just because the economy has slowed down, it is really not a big jump to say that one of the things we should do is to break a window so the glass maker has some work to do.

Things get funnier once you take this kind of lunacy forward. If we have really thrown away all consideration regarding the return of investment, what we should really do is to break very valuable things; specially things that require a lot of work to replace/substitute. Therefore, Krugman should propose that we get rid of computers. There would be no better plan to get *everyone* back to work. I can guarantee it.

Fun fun fun!

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Tell them MF

This is possibly one of my favorite clips ever, from any economist. Take that, crazy hairdo pinko! (Watch the whole debate when you have a chance, it is awesome)

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Golden Boy wrote a post called Economics Is not a Morality Play and right in the middle of his rant he says that:

“The rich don’t necessarily deserve their wealth, and the poor certainly don’t deserve their poverty”

Oh well, I would say that everything else he wrote there is moot at that point.

Here is some breaking news for you dear Paulie: Everything involves morality. Taxing the rich is only acceptable if you think they don’t deserve their own profits. ‘Helping the poor’ will mean very different things if you think they have (at least part) of the responsability for being poor.

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What he said

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Krugman finally explains what is his magic potion to control the defict once the recession is over:

Yes, the United States has a long-run budget problem. Dealing with that problem is going to require, first of all, sharply bending the curve on Medicare costs; without that, nothing works. And second, it’s going to require some combination of spending cuts and revenue increases, amounting to at least 3 percent of GDP and probably more, on a permanent basis. I’d argue for doing most of that through higher taxes – and yes, I’m willing to go along with a VAT, as long as it’s used to pay for maintaining the social safety net, not to make room for tax cuts on high incomes.

So anyone out there who still wants to claim that this guy is ok with tax cuts or a deficit hawk? (and one of the masterminds behind the Clinton’s era lack of spending?)

Please… The guy is the classic tax and spend liberal. And if history has anything to teach about these folks is that they end up spending much more than taxes can afford.

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