Paul Krugman says the National Debt is a good thing and Trump paying it down makes him monetarly irresponsible. He argues you need a good amount of national debt because banks like Goldman Sachs need risk free investment and he argues that Presidents like Jackson paying down the debt are bad.
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>kike says debt is good
Pure coincidence!
Without the Federal Reserve system he'd be wrong... but with it he very unfortunately has a point.
Since the money supply is based on debt if you pay it off and other people aren't borrowing to make the total debt go up you can win up with a deflationary collapse... luckily the dumb fucks in the Mideast are borrowing to start wars with each other instead of trying to fund terrorism against us for once.
If we went from a federal reserve system to a greenback system we wouldn't have this problem though and you could actually have a sane fiscal policy.
Annex us before its obvious America is the promised land again. These maple-dollarydoos are fuckin trash. I want some freedom bucks for fucks sake
We're not supposed to pay our debt. We're supposed to pay the interest on our debt so our government has essentially unlimited finances.
The problem is the petrodollar is weakening and now we're being finaced by the sino-judea alliance
Be in constant debt.
Its not like balancing the budget when clinton was in office led to any financial positives.
The super bull market was nonsense. Debt is where its at!
WTF is this kike talking about?
Read the creature from Jekyll Island he actually DOES kinda have a point given how things work with the Federal Reserve.
The US government can only pay down its own debt without a deflationary collapse unless someone somewhere else is borrowing to make up for it.
It really isn't a big deal right now. He is only right theoretically. Technically paying off too much debt at once can be horrible for an economy.
We are not in a situation where paying off the debt is bad. You can cause a recession and fuck your banking sector, but those are extreme scenarios. Krugman is being a little rat fuck like he normally is: make a true point and then apply it to situations where it doesn't matter. Krugman should love Trump and Bannon's plan to spend massively on infrastructure. I wonder why he isn't constantly talking about that. It is a much better Krugman-esk plan than anything Obama did.
Krugman is a very good economist, but he is also a political hack, so you have to put everything he says in context. Trump literally plans to do exactly what Krugman wanted Obama to do in his last term and guess what? Trump is still the enemy and Krugman will only attack him.
Behold the sublime intellect of a leftwing economic GOD
OY VEY, TRUMP IS PAYING OFF THE DEBT SO LESS OF THE GDP WILL BE PAYING INTEREST TO MY BANKER FRIENDS
the us can never pay off the debt because in order for a dollar to be in circulation one dollar of debt has to be created.
if you pay down the debt less money is in circulation
hes arguing for more money to be in circulation
hes just another kike who thinks we can print our way out of everything if interest rates remain at 0%, which is true kind of because the banks that are getting all this 0% interest money only put it in stocks thus why the stock market is like 22k
Is that real? I find it unbelievable. Krugman deserved his Nobel Prize, but he is definitely a political hack.
counter proposal -
how about we just toss krugman and the chairmen at goldman sachs into the oven and start over, print our own money instead of the federal reserve goy notes? problem solved.
This shit is still up on NYTimes
>have a sane fiscal policy
every nation in the world would kill to have our fiscal policy. we spend more than we tax. it's heaven for the economy. the debt only matters IF we can't repay it and that causes a crash. Until then more debt = better economy.
Krugman also said the stock market would crash if Trump as elected
There is a reason Friedman and Sowell disrespect him
Oh Krugman, you crazy old Jew you.
I understand his position. I am familiar with the book.
I dont give a fuck about deflation. Its literally the biggest rick roll of all.
We have had times in this country where central banks were dissolved. To big to fail is about one bank and one bank only....and its a lie.
We can debate the value of constant open debt as surely as we can debate the value of open boarders.
When do you wake up? When do you stop believing in economics as a hard science?
Well for once it would actually be nice for the value of our currency to go up instead of down.
There are fates worse than ovening, goy. Hooking up the dollar to the blockchain would probably make Israel go Sampson Option and fire the jewcular weapons
He's been a terrible economist.
What in the fuck is a liberal economist even supposed to be???
This is pathetic. Its an attempt to remain relevant.
He's not and neither is the times.
Lookup the velocity of money and the great depression and (and 2008-2009) and realize that no its a bad thing... especially with ourguy in office.
But then people will save instead of spend
I fucking hate neoliberals so goddamned much.
Trump can discover the cure to cancer itself and leftists will still manage to find a way to berate him for it.
Trump should just focus on his goals and not even attempt to please everyone , its a lost cause
We can just pass mandatory spending laws!
(((Krugman)))
Daily reminder that Krugman's nignog wife/servant writes all his columns for him.
(((Paul Krugman)))
'nuff said
(((Krugman)))
Krugman should be burnt at the stake for all the damaging bullshit he's peddled over the years.
I'd like for us to be able to have a sane fiscal policy too but for it to work we need a sane currency system which the Federal Reserve is not.
Deflation is terrible and always causes depressions, not something we want with our man (a nationalist) in office. It might be something we wanted if Hillary was in office.
Trump isn't in the danger zone of deflation yet because Obama increased the debt so much with such bad economic policies that the money never really hit the economy so he has some leeway but if Trump pays off the debt till its under say 17 trillion he starts to hit the danger zone.
Holy shit thats impressive.
Oy vey!!! Das ist nicht gut!!! Der Goyim ist ein schlemiel putz und essen schwarzen tuchus!!!
>One answer is that issuing debt is a way to pay for useful things, and we should do more of that when the price is right. The United States suffers from obvious deficiencies in roads, rails, water systems and more; meanwhile, the federal government can borrow at historically low interest rates. So this is a very good time to be borrowing and investing in the future, and a very bad time for what has actually happened: an unprecedented decline in public construction spending adjusted for population growth and inflation
Well he's right on this, but there is nothing useful about having debt for debt's sake or to prop up risk pricing of investment vehicles.
I thought Clinton had lowered the national debt to advantage?
But you eventually have to repay plus the economy is crap
> the fed will lose its independence
I fucking wish
The shaked his hand they don't disrespect him
What a fucking Jew.
OY VEY, DON'T TAKE AWAY OUR IMAGINARY MONETARY VALUE GOY.
Conservative economists are nuts
> (((Paul Krugman)))
> (((New York Times)))
Pic related
so you hate me?
Lol
Not if your GDP keeps growing, you can keep the ratio to debt exactly the same and while the debt itself balloons.
Fueling economies with debt is the economic equivalent of the martingale.
People are going "WOAH! NO WAY! YOU'VE ROLLED 5000 TIMES ON ROULETTE AND YOU'RE STILL UP? YOU SHOULD BE AN ECONOMIST!" That's all you have to do to be an economic genius. Every time you lose on roulette, just swipe the credit card, and bet until you win. Then brag about how "stable" your economic system is compared to the people that leave home with less money in their pocket every day, while you've been going to the casino for weeks and you go steadily up every time. Have a few good economic ideas and then tack them onto your martingale system, parade around like a genius economist, who has figured out the secret to a good economy is more debt.
He just uses stellar logic. First, tell the central bank to keep interest rates low.
krugman.blogs.nytimes.com
Then, advise the government to borrow more to take advantage of low interest rates! With low interest rates, debt has never been cheaper, so you would be a fool not to take some out!
nytimes.com
This is followed by analysis of the martingale showing, over time, the martingale is an especially steady system for managing wealth which grows constantly. Thus, it is more "Evidence-based" than alternatives, and why would you favour an empirical approach over an empirical one? Go from talking about the benefits of saving during good times and spending during bad times, to talking about the glory of just gradually piling on more and more debt over time!
Fuck Krugman.
GDP can't grow forever
>nytimes com/2015/08/21/opinion/paul-krugman-debt-is-good-for-the-economy.html
archive.is
WTF!? senpai?!
where the hell did we scrape up 8 Gorillions of dollars to pay off debt? Treasury printing Greenbacks? is he OUR Abraham Lincoln?
The reserve currency is a curse which ruins the virtue and after that the economy of every nation which gets that.
It ruined Spain, it ruined Holland, it ruined Britain and it will soon ruin us.
grow up, we all know you poltards cant read, you cant help but misunderstand and misrepresent
>every nation in the world would kill to have our fiscal policy.
"kill" is our fiscal policy. every dollar printed is backed by the full faith and credit of the US military and nuclear arsenal, and those who struggle against it are going to get their shit fucked up.
>being a Keynesian in 2017
Why does anyone listen to this man?
Is this graph a real thing?
Goddamn, if true.
There is still deficit spending with a greenback system which means there's still inflation which means savings, investments, and wages are still reduced.
say there is 19-17 trillion national debt: what is the break down percentage of that money owed to where/who?
If that graph is true, i want trump over here to sort out our debt.
I'm 38 years old and I can't remember any time that our national debt was shrinking. Is this real?
space elevator
FUCKING GAS THE KIKES
THJERE IS NO OTHER SOLUTION
explain yourself, Opie. GIS doesn't recognize this image.
Grow up. That's exactly what he's saying it's obvious you cant read
but The People wouldn't take out loans from not The People, to the sum of 19 trillion, which they would then have to pay back and with interest.
The government would say: we collected 1 trillion in taxes this year, but we want to spend 2 trillion:
What do we do, print 1 trillion dollars? Print a fraction of that? Ask private citizens to loan us money, which we (tax payers would pay back with interest)? Raise taxes by 1 trillion dollars?
it's bad, there's no way trump doesn't know how modern money works (he's even indicated he does, which makes this policy curious), but it's probably for publicity and not to a meaningful extent (and hopefully hits the foreign holders more than the american private sector)
>Jew says debt is good
Lol
Poetry
Yes goy, debt is great, take out a nice hefty loan to buy that house you can't afford. It's good debt goy.
holy shit right wing retards are the dumbest motherfuckers on the planet
it has happened, namely when bill clinton's government wrecked the american economy by doing so
Krugan is a Keynesian economist with flawed ideas and predictions. Look up Austrian Economics.
Fact Checking Paul Krugman's Claim To Be "Right About Everything"
mises.org
Silly goy! Cant you see??!!
Having someone pointing a gun to your head in the form of a massive fucking debt all the time is a good thing!
I keked hard when I read his arguments.
He says "those very low interest rates are telling us something about what markets want"
WTF, a bunch of jews set the interest rates without asking anyone, in what way does this reflect what "markets want"?
Is the market really just a handful of jews?
Motherfucking jew.
This
God i hate these fucks
To be fair it's the only respected economic theory in this age
Wages increase with inflation
The eternal jew, what else would you expect?
if anyone feels willing to look into why and how the debt matters - i'll give you this:
How eill that raise GDP?
Yeah who cares about business cycles, declining wages, asset price inflation, rising rents, etc.
It's amazing, soon jews will own 90% of all property in the US.
Just trust them and take that damn loan for a worthless college degree, they do it in your interest.
Modern money works the same as old. I follow MMT as much as anyone but payin down the debt is still good
Why?
the thing that little Opie Conningham doesn't get is that the US doesn't just have huge debts, it has huge assets. it's not our huge debts that make things work, it is the fucking assets.
I studied Austrian economics I understand it
kek
Thanks for this.
>Wages increase with inflation
except minimum, and thus, everything just above it
I understand MMT. under MMT the debt still is an issue due to interest payments
Suuuuure even tho it does none of that
That's why you raise the minimum wage
>debt is ba-
interesting, isn't the sheer size of it relatively meaningless as long as the government can use its powers wisely to harness the potential of its economy (e.g try to strike full employment etc while keeping a close eye on inflation)? what would make the fact in itself good?
Next time it gets raised, they'll index it to auto-adjust with the CPI like they do Social Security.
but you said
>Wages increase with inflation
if the federal min wage hasnt been raised in 10 years, it would appear your statement is false. but I presume you were talking about wages furthest from minimum
And now have a look since when did wages start to stagnate in the US? It's since the 70ties.
>>debt is ba-
the debt is 19 trillion. What a random number. What a massive number, why not 30 trillion? why not 50 trillion? why not 100 billion?
linear scales exaggerate, need to normalize by GDP
Bush tax cuts remain largest factor in debt