October 15th, 2011
08:19 AM ET

GPS this Sunday: Paul Krugman praises Occupy Wall Street

On GPS this Sunday at 10a.m. ET/PT, making sense of the Occupy Wall Street movement. Who are they and what do they want? Fareed explores the macro picture with an all-star panel: Editor-in-Chief of Forbes Media and former U.S. presidential candidate Steve Forbes; Nobel Prize-winning economist Paul Krugman; Chrystia Freeland from Reuters and Bret Stephens of the Wall Street Journal.

Also on the show: Prince Turki al-Faisal is the former head of Saudi intelligence and a former ambassador to both the UK and the U.S. His thoughts on the Osama bin Laden he knew, the war on terror, Obama’s presidency and reform in the Kingdom.

Here's an excerpt from Paul Krugman on Occupy Wall Street's "positive contribution" to society:

Paul Krugman: We are just three years after the greatest banking crisis since the 1930s. I think it was brought on by excesses on the part of the financial industry and the financial industry was bailed out at the public's expense and risk and yet we're still in an economic crisis. And somehow the discussion of who are these guys, why are we supporting them, why haven't they paid more for this, what are the reforms that's going to stop this from happening again, all that disappeared from the debate.

We have been arguing about who's going to cut Social Security and what about that budget deficit? And we lost the whole thread of the core issue in our society right now. And these protesters, who are a mix of all sorts of people, suddenly brought that back into the center of our national debate. And that's an enormously positive contribution.

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Topics: Economy • GPS Show • Saudi Arabia

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soundoff (51 Responses)
  1. Muin

    Even though Ron Paul knows he will never get his way, he does make lot of sense. He doesn't want America to play an occupying role,. He doesn't want drug war or big centralized program like education. It does make sense for him to say he wants lower tax. The politicians cut a deal for 15% tax. They want big army, no cuts in social program and wants to give more discount to top earners without reforming anything. It's not like they're stupid/ They all know there is no such thing as vodoo economics but they keep promoting bad policy after policy. And there is not going to be millions of jobs anytime soon because of lower economic growth. So I don't know what else is there besides taxing rich or cut safety nets.

    October 18, 2011 at 8:15 am | Reply
  2. Victor

    As a little person with global interest I want to thank you for having such an intelligent and open public forum for the pressing issues that affect all of us today.

    The most recent 10-16-2011 program was both fascinating and some what terrifying to me. The items that caught my attention were that; 1. We are making the same mistake that we made in the 1960's by radicalizing and marginalizing the protesters. Wither the are or are not radical fringe groups is , in my opinion, irrelevant . The political realities are such that there are just to many of them to ignore and that we need to come to terms with them as we finally had to in the early 1970's by getting out of the war in SE Asia. Political leaders should stop playing them as a trump card in their on going bid to power and stop trying to reinterpret their message for there own ends.. 2. Economic leaders cannot even agree on fundamental processes reminding me of two renowned physicians arguing over how to best treat a sick patient. Sometimes they get so caught up in there own research and experience they forget that the patient is dying. The many variables make medicine an inexact science at best requiring great flexibility and being willing to try something that neither one has thought of in order to bring health back to the patient. It seems to me that our sick economy needs a similar approach.

    October 18, 2011 at 9:41 am | Reply
  3. Occupado

    Krugman is a phony.

    October 30, 2011 at 4:32 pm | Reply
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