Thursday, February 4, 2021

Krugman's Insult

By the very opinionated New York Times columnist Paul Krugman: The Republican Economic Plan Is an Insult

"It’s bad faith in the name of bipartisanship."

"And in the meantime we’re going to have to remain on partial lockdown. It would, for example, be folly to reopen full-scale indoor dining. And the continuing lockdown will impose a lot of financial hardship. Unemployment will remain very high; millions of businesses will struggle to stay afloat; state and local governments, which aren’t allowed to run deficits, will be in dire fiscal straits."

"What we need, then, is disaster relief to get afflicted Americans through the harsh months ahead. And that’s what the Biden plan would do."

Read between the lines, folks. What Paul Kru[d]man yearns for is a super-activist government, especially the federal government. The predictable results will be bread lines, selling apples on the street, and lots of people not working because they get a government check not to work. In other words, similar to the several-year Great Depression that began about 90 years ago. An exception is greatly inflating the money supply by creating lots more government debt rather than cutting the money supply by 1/3rd. More government spending, taxes, and debt is Kru[d]man's usual advice, which "takes from the rich and gives to the poor." After several years, he could then recommend the government jack up the economy by starting WW3 with China. Jeesh!

"History doesn't repeat itself, but it often rhymes." - often attributed to Mark Twain.

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