Paul Maynard Krugman-Keynes really is a wackonomist extraordinaire. It's no wonder then that he's prominently featured on the op-ed pages of the NY Times.
babbling nonsense
any quote from the above will do for an example of keynesian nonsense, but this is particularly good:
Quote:
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...one of the high points of the semester, if you’re a teacher of introductory macroeconomics, comes when you explain how individual virtue can be public vice, how attempts by consumers to do the right thing by saving more can leave everyone worse off. The point is that if consumers cut their spending, and nothing else takes the place of that spending, the economy will slide into a recession, reducing everyone’s income.
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So, according to the same man who thinks it is an economic good for giant airplanes to be crashed into giant buildings, it is bad when "consumers" save their money rather than spend it on crap.
let's repeat....
....saving money, putting it into something which might then be invested in greater productivity = bad for the economy
...racking up credit card debt to buy guitar hero version 14 and 3 year subscription to ASS magazine = good for the economy.
This is how liberal wanker keynesian's think, and it's why our economy is on very structurally thin ice right now.
so what happens if we stop buying games for the PS3 and let our subscriptions to a variety of porn mags expire???? apparently, according to Krugman, the government must up it's purchases of crap to makes sure we have a never ending flow of more crap.
krugmanesque keynesians -- they don't understand the full role their favored monetary, fiscal policies, and regulations play...they count only the benefits and not the costs....then they proscribe bigger taxes and bigger government to fix problems they created in the first place....ever spiraling credit card debt, bigger taxes and bigger government.