I was recently on Ali Velshi's Your Money to discuss my blog post, Does America need a prime minister? Check out the video above. Let me know what you think. I'll be discussing this topic more this Sunday at 10am ET/PT on GPS.
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Paul Krugman shocked me with his disrespect to history and his flip-flop hypocrisy. I am an independent and I will share some of my views below.
1. He says the government should hire people to dig a hole, cover it, and dig it again, because it get people employed. Why don't we hire people level the Capital Hill or whole Washington DC and rebuild over and over again? This is pure insanity.
2. He also said that going to war stimulate economy. Yet he and all the liberals blame for the Iraqi war for the debt problem we have now. I am in no way in favor of that war. I am just shocked by the inconsistency in Kregman's logic.
3. Greece was paying 4% interest rate 24 months ago, substantially lower than what the US government had paid on average over the past 100 years. I guess that told Krugman Greeks had no reason to worry about racking up more debt, right?
4. Latin American countries had debt problems and they printed their own currencies. That didn't stop some of them go into big crises in the early 2000's.
5. Consuming for the sake of consuming does not stimulate economy. There were long lines in the former Soviet Union stores but the shelves were empty!
6. Our problem is not debt overhang not lack of consumption. Our country has an obesity problem. The private sector wants to go on a diet to get healthy but the public sector is trying to keep the body fat! You cannot avoid the painful yet necessary treatment.
7. Social safety net is important and I feel for the people in hardship. However, turning unemployment benefit program into an unemployment pension program does NOT help the employment situation. If people need to work 8 hours a day only to receive marginally higher pay and still face the possibility of higher tax, why should they work? A lot of people choose to work for cash pay and claim unemployment benefit the same time, rather than getting a full time job on the payroll, because they end up with more money the former way! The irony is that that itself reduce government revenue.
I am pretty sure if the Republicans get a guy in White House next year, Krugman will do an 180 and raise the government debt issue again and again. Mark my words!
"1. He says the government should hire people to dig a hole, cover it, and dig it again, because it get people employed."
Psychologically Krugman made sense. It's about keeping people busy. If they are preoccupied, there will be less discontent. People who work are more content than those who don't. What Krugman suggested was an emergency measure. Of course it would be more ideal if the private sector employs people for manufacturing tradable goods and exporting services.
I have already commented on Your original blog, but I will try this way also... Check my opinion following this link : http://wp.me/p1tNKI-r
I know you and your buddy George Soros want the end of America as it is, but how is the European model working any better? The problem in the US is money in politics. What Europe has is socialism, and that is the struggle here. It's not that our system is broken, its the leaders and the media bias that rip the country in two. Your goal in raising the PM question is to plant seeds of the One World G. Soros vision.....plain and simple.
We already have one world government, it's called the corporation.
Rescission salutations;
1.Change to a six hour work day.
2.Change to a three day weekend.
3.Ten weeks paid vacation for everyone mandatory.
4.Early retirement with full salary.
5.Zero income tax for the working class.
6.Ban inflation.
7.Ban medical insurance. We don't need any more medicine men shaking there rattles over our dying children.
8.Legalize healthy fresh foods.
9.Require all processed foods to be labeled “toxic energy supplement”.
8.Close the stock market.
9.Close all concentration camp/prisons. We have much bigger criminals in Washington.
10.Bring back all our boys. They are solders not pillagers.
11.Turn all schools over to the students. Eliminate testing of students. Teach our children seven languages before the age of eight.
12.Open the borders. We are all romans anyway and almost none of us are English.
Just off the top of my head.
Not only do you put your neighbor out of work, but you also cause wages to go down when you work overtime, work a second job, or put your wife to work. If there are less jobs we should be working less not more. Less jobs should be a sign of increased quality of life.
With all our labor saving devices we should only be working six hours a week like the the roman citizens of old.