Click Photo to See Krugman on Charlie RosePaul Krugman interview, aka 'Deer in the Headlights' (it'll make sense when you watch the clip), with Charlie Rose from June 30th.
Go straight to the 17 minute mark if you wish to skip the discussion of Obama's health care proposal.
Hey Rose and Krugman, not incidentally you're both wrong. Unemployment is not a lagging indicator in our current downturn, writes Dr. John Hussman (11th paragraph beginning with "In typical recessions").
From Krugman (the enemy):
"The stimulus package was too small." AAARRRGGGHHHH. Give it a rest. Outside of the Obama White House and the panoply of glad-handing, sycophantic Keynesian drones led by Krugman and Delong, no one buys this crap. As Peter Schiff put it, Keynes is to economics as witch doctors are to medicine.
An extremely useless Krugman comment (that perhaps demonstrates that he himself has been captured to a degree):
"No raw corruption in Washington or among the regulators, just cognitive regulatory capture." Phew. Now, we can relax because Krugman says it's just harmless 'cognitive regulatory capture.' What the hell is 'cognitive' regulatory capture? His implication that the mind has been captured but not the deed is completely bonkers. Witness the huddled behavior of Senate Democrats just yesterday as they protected the Federal Reserve and blocked any chance of bailout transparency. This is pure insanity from Krugman.
WHAT'S LEFT OF CHARLIE'S FACE AFTER HE DOVE LAST YEAR TRYING TO SAVE HIS MACBOOK AIR FROM HITTING THE SIDEWALK
More from Krugman (this time he's our friend):
Goldman has done too well. AIG...there was no spreading the cost to counterparties. He still feels 2 banks should be seized (he's talking about Citigroup and Bank of America). He said taxpayers have borne the risk of massive losses and the current upside is being enjoyed by others. Bad things haven't happened, yet.
He mentions that he and Geithner critic, Joseph Stiglitz, were invited to the White House. Said Obama was cautious and knowledgeable on the issues. Smart and well-intentioned. He came away feeling better after the dinner.
Editor's note: Bailout and deficit politics can make you crazy...Krugman, Tyson, Summers, Delong and Romer are live together on Fantasy Island regarding Keynes, government spending, stimuli, economic multipliers and the like. Their duplicitous theory, while weakly functional in a perfect recessionary environment, is completely useless in this crisis.
The stern backdrop of Barry Bonds like debt to income, and debt to GDP levels (345% vs. a career average of .345 for Bonds and not coincidentally, both ratios are inflated by steroids), means that consumer behavior will be different than their models predict.
So I despise them for this, because they're stealing my money and your money and your kids money and so on, all so they can try to mollify the effects of a crisis that can't be mollified. This is our pot and we need to piss in it. There's nothing that can be done.
The insanity kicker: Then, 30 seconds after pissing me off with his stimulus talk he slides glibly into his comment about Washington capture but defines it as cognitive capture to ease the pain of the truth.
And from there it's good buddy Paul Krugman for the last 3 minutes as he tells the truth about the banking bailouts.
The gob of goo between my ears was not trained to hate and love during the same 7-minute Charlie Rose interview for chrissakes. It's not healthy, it's not normal and it's not natural.
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