Paul Krugman: Crisis? What crisis?

Exhibit A.

A reeking waft from this steaming pile of fecal matter:

But aren’t we facing a fiscal crisis? No, not at all. The federal government can borrow more cheaply than at almost any point in history, and medium-term forecasts, like the 10-year projections released Tuesday by the Congressional Budget Office, are distinctly not alarming. Yes, there’s a long-term fiscal problem, but it’s not urgent that we resolve that long-term problem right now. The alleged fiscal crisis exists only in the minds of Beltway insiders.

Based on what I read here, Paul Krugman is non compos mentis and should be committed to a mental institution soon. He is clearly a danger to both himself and others.

This nonsense isn't even Keynesian economics, neo- or otherwise. This is just pure balls-out craziness, with a healthy dose of reckless "eat drink and be merry, for tomorrow we die!" abandon thrown in. Four years of utter failure on both fiscal and monetary policy do not faze him. Krugman's economics can be summarized by Jiminy Cricket: if you wish upon a star, your dreams will come true.

These are the words of a man bent on suicide. If you plan on being dead tomorrow, worrying about the day after is pointless.

This is not economics or government policy. This is just murderous ideological cant.

During the repeated failures of the Soviet Union's Five Year Plans during the 1930's, Stalin was notorious for having his inept finance and industrial commissars "disappeared" into gulags or shallow graves. Eventually, the finance and industrial commissars just started to weave bullshit out of thin air to save their own lives: they'd falsify reports, adjust previous projections downwards, and alter historical records. Over time, as the years passed, they lost their ability to tell the truth from their own bullshit. They'd report that 20,000 pairs of shoes had been produced in a given month at a factory, let's say. But the reality was they had no real idea how many shoes had been produced: more, less, or none at all. They found out over time that Stalin and the Politburo only cared about the reported numbers, not the goods produced. As long as the record showed the proper number of shoes being produced, it didn't matter that there were no actual shoes to be had. They understood, finally, the nature of the job. It wasn't to manage the actual economy. It was to make the regime look good.

Krugman is the intellectual heir of those Marxist tools in the Soviet Union. To him, the economic numbers no longer pertain to anything actually happening in the real world -- he doesn't give the fattest kind of shit whether the budget numbers align with the world of real things. Real-world numbers make his boyfriend Obama look bad, and the continuing failure of Obama's fiscal policies make the socialist ideology look bad. Krugman can't have that. Somewhere, deep down, the real economist that Krugman used to be knows that this is all the rankest kind of bullshit...but the socialist tool that Krugman has become doesn't care.

Socialism doesn't work. It never works. It never has worked, it never will work. Karl Marx was full of shit, and the human race has sacrificed millions of innocent lives and untold wealth proving that beyond all possible doubt. Yet fuckheads like Krugman are still beguiled by his shitty, murderous, tired, discredited philosophy.

It offends me to live in a society that elevates someone like Krugman into a position where he can influence public opinion. Much of what is wrong with our country can be neatly encapsulated in the bitter, miserable, bearded little homunculus that is Paul Krugman.

posted by Monty at 09:12 AM

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