Why Paul Krugman is a moron

Paul Krugman demonstrates in his first column post-Nobel why I think he was such a remarkably poor choice for that award.

We Need to Increase Government Spending

America is now more than $10 trillion dollars in debt. With Medicare, Social Security and other unfunded obligations added to that mix, our debt stands at $59.1trillion dollars. We spend about a third of that money, around $3 trillion dollars, estimated conservatively, for interest on that debt.

We have a banking crisis as a function of banks engaging in similar behavior, spending and investing money beyond what they could generate in revenue. And the Federal government just added almost $700 billion dollars to that budget deficit to pick up the pieces from that unsustainable spending and investment on the part of banks.

And instead of making choices that might responsibly ensure financial health for the Federal government in the same way that Mr. Krugman would, presumably, want major banks to make to for the sake of their own financial health, focussing on an honest accounting of revenues that the government will take in, making cuts in spending and tradeoffs America needs to make to spend within that budget and to be able to afford whatever government may spend that money on, instead of spending more than $3 trillion of that money on servicing a budget deficit, Paul Krugman's response is to ignore that much more unsustainable and serious financial situation for the U.S. government and to ask the Federal government to spend more, amidst a record-breaking period of financial mismanagement on the part of the U.S. government.

And this is the asshole who just got the Nobel prize for economics.

This world has been turned upside-down by politics.

And Paul Krugman is case-in-point numero uno of just how mad people all over the world have gone to rationalize power.

This is not fiscal sanity that Paul Krugman is proposing. It is politics, as usual. And it is the kind of politics that has made of mess of liberal democracies. And we will continue to deal with that mess and all of the lying that makes it so until we face how foolish we have become.

Sooner rather than later, I hope.