Both Donald Trump and Paul Ryan, each in his own way, spin crazy dystopian stories about America, says Krugman. Our country isn't perfect, but where are they getting these crazy ideas? We sort out who's crazy and whether things really are dystopian.
In this special episode recorded before a live audience on board the Contra Cruise, which Tom and Bob are hosting this week, your hosts take on Krugman on tighter fuel efficiency standards of automobiles, Krugman's anti-scientific statements on climate change, and more, including audience questions.
Krugman says it's not just Trump who's an ignoramus, but his economic advisors, too: why, they seem to think a foreign VAT (value-added tax) hurts US exporters. We investigate, and turns out these guys are against fiscal and monetary stimulus -- how bad could they be? Yes, there are some problems in the Trump white paper, but there's a lot of good in it, too. And its key fallacy on trade accounting is something Krugman himself has pushed in other contexts.