On the one hand, people are telling pollsters that they're bullish on the economy, but on the other, the economic statistics (like retail sales) aren't reflecting this kind of confidence. What's going on here? Krugman has a theory....
Krugman can't believe people still think tax cuts (particularly on "the rich," who of course pay most of the taxes) might have good and substantial effects on the economy, or that they could believe that the ensuing economic growth could make up some of the lost revenue. We look at the facts of the matter.
Krugman (correctly) wonders about all the emphasis on manufacturing employment, when many other perfectly honorable lines of work have also witnessed declines. Why the emphasis on manufacturing? Why, because white people tend to hold those jobs, says Krugman. What a surprise....
Krugman says Trump's recent strike on Syria is typical of the man: a one-shot action masquerading as policy. He also says that Obama was right to stay out, since there was no clear way through the morass there. Special guest Daniel McAdams, executive director of the Ron Paul Institute for Peace and Prosperity and co-host of the Ron Paul Liberty Report, joins us for this episode.
Krugman wonders what became of Trump's bluster about trade -- so far, the proposed changes to trade policy are minor. Bob and Tom discuss President Trump as compared to candidate Trump.
This week (with Krugman discussing Obamacare yet again) we decided to hop into our time machine and revisit a golden oldie: Krugman's response to one of Bob's articles on capital theory and business cycles. Now that's an episode!
Krugman's opponents all live in a fantasy world where facts don't count. That's his dispassionate assessment of our present situation. He also can't believe anyone would think the Congressional Budget Office's reports might be politicized. Too bad he himself made that precise accusation in 2015....
Republicans are now figuring out that really, the Democrats have been right all along, which is why it's so hard to devise a true alternative to Obamacare. That's Krugman's argument in this column. They're also flubbing the way they're corporate tax reform. This isn't because their leader, Donald Trump, is a bozo, but because they themselves are shysters who are good at sloganeering but bad at governing.
We've covered Obamacare quite a bit on this podcast, but we had to address Krugman's claim -- advanced by many on the left -- that Obamacare has surely saved lives, and its repeal would undoubtedly involve the loss of life. Then we look at Krugman's worry about the prospect of a media in the regime's pocket, and private individuals and companies feeling pressured to toe the regime's line. Yeah, we've never seen anything like that before!
Krugman says the Trump Administration is wrong to expect economic growth in the range of 3 to 3.5 percent a year. We look at Krugman's analysis of what does and doesn't cause economic growth -- and why he thought it was reasonable to expect 3 percent growth a year under Obama, which never happened in any year.
You know the drill: Krugman says Republicans--including but not limited to Donald Trump--are blithering idiots who are actually proud of their ignorance. There are plenty of right-wingers we dislike too, but as usual Krugman's claims are utterly biased. We remember some of President Obama's "greatest hits" when it comes to diplomatic gaffes and botched policy execution.
In this episode we talk tariffs, taxes in general, and whether business can really "pass on" a tax to consumers.
Donald Trump was elected in part to keep manufacturing jobs in the United States and reversing that sector's decline. Krugman says his program will do the exact opposite.
Trump and his supporters live in a bubble and manufacture their own reality, says Krugman. That's Krugman talking, we remind you. Krugman is speaking about other people manufacturing their own reality. This from a guy who manufactures whatever reality conforms to the partisan demands of the moment, as we've shown in drearily copious detail.
We decided to depart from our usual format this week, given the significance of the Obama-Trump transition, to look back at and offer some thoughts about the Obama years.
Krugman actually had the nerve to write a column called "Deficits Matter Again." We demolish this column. We prove beyond a shadow of a doubt that Krugman is simply a hypocrite, despite his protestations to the contrary. His reasons for why the deficit suddenly matters were all in effect months ago, yet back then Krugman didn't care about the deficit at all.
Trump promises to be the most corrupt president in U.S. history, says Krugman, who offers hotel reservations as a key example. Democratic and bipartisan corruption is of course ignored. Oh, and two more times -- in a single column! -- Krugman links to something he claims is saying one thing, but which when you click on it you discover is saying quite another. In all, perfect fodder for Contra Krugman.
Krugman disagrees with Trump's trade policies and thinks they're grounded in falsehoods (e.g., China as a "currency manipulator"). You'll never guess what Krugman has said in the past when Democrats have flirted with protectionist ideas....
So Paul Krugman is suddenly shedding tears over the fate of the republic. Of course, he cheered every step that brought us here.
That sounds totally realistic and not at all like it was concocted by spooks.
Let's keep the part about covering pre-existing conditions, say Donald Trump and many other Republicans, and just get rid of the parts we dislike. Unfortunately for them, that can't be done.
In Krugman's column on cronyism and profiteering, Bob and Tom pay particular attention to the section on education, where Krugman discusses school vouchers and "privatization." Wait till you hear how Krugman summarizes the results of these policies....
Funny: Krugman used to be happy about any kind of fiscal stimulus. But when it's a Republican doing it, he has to come up with a laundry list of reasons to oppose it. But his own economic theory virtually requires him to favor it, so we have a little fun with the poor guy.
Well, well, well: guess who's suddenly worried about the deficit and the debt! After just telling us that increasing the debt in any way for any reason would be a good thing, to boot!