CNN's Erin Burnett talks to Nobel prize economist Paul Krugman about his plan to save America from falling off its fiscal cliff. Krugman says spend, spend, spend - how much you ask? $30 billion a year.
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Big numbers is always a mystery.. most of us cannot think in terms of even millions . and billions and trillions?? I believe the important piece is that the ones that invest are people who after they purchase what they want..they have more .... so they invest.... unless work on walll street and borrow money to invest??? anyways... to them it is a number on a piece of paper.. it is only real on paper.. So numbers generate more numbers and so on and so on ... Since they do not need the money to have what they want, is it risk??? is it wise investing?? dunno don't care... but people even after a collapse will still need to eat and find shelter...sooooo what is risk???? I try to understand these numbers ... but I cannot see in my minds eye.. maybe if I had millions or billions I could... but I cannot... Success by most of us I believe is gauged by peace of mind and soul.... to be happy.... not to be rich in terms of currency
Professor Krugman just wipe the floor with Ms Burnett yet again.
Austerity has never work in any place at any time in history. Never, not even, not in any country. Never.
A pro-growth plan that professor advocate is needed. People need spend, governments need ot spend. I am spending.
You will be hard pressed to find an example of stimulus spending that produced results as advertised. At best supported of stimulus, like Krugman, are left to argue that the stimulus program might have done some good, or failed because it wasn't big enough, or wasn't spent on the right things, but it never really works as advertised. The reason it doesn't work is so obvious as to be laughable; if the government borrows and spends $300 billion dollars more it means the private sector of the economy has to spend $300 billion less. There is no net increase in demand so there is no stimulus just a larger public sector debt hung around the neck of the private sector. I'm well educated in economics and have spent 30 years studying Keynesian type stimulus models. I understand the theory. I understand the econometrics. But in practice these program just don't work.
And yet again I am not even reading the articles saying silly things like. " Stop Calling me Erin Your Obsessed with me " offering me all these free gifts the free flight to florida I told you I am not interested just give up. Besides your boyfriend fiancee will get upset and with the baby on the way too shame. shame. Shes obsessed with me