24 Burst results for "Paul Krugman"
Mark Levin Calls out New York Times' Paul Krugman
"There was a piece in the, uh, New York Times by Paul. I don't know if it's Krugman a Krugman He's supposed to be the best. The The radical left has as an economist. But of course, he's pathetic. We've been trying to get in touch with this man. For how many days Mr. Pitt is here. Since Saturday. We've emailed. We've tried to contact and we've heard nothing. I put out a public challenge to him to debate me about my book. We've heard nothing. And I want to put out that public challenge again to, uh Mr Dr Krugman or Krugman to come on the show. 30 minutes, maybe an hour. Let's debate the substance in my book, the substance of the book. Cause you're a gutless coward. You're a fraud. I'm calling you out. And my time with a little munchkins. I'm calling you out. Tough guy, Big guy, right? And he twists and turns Frederick Kayak and so forth, and and I want to get into this with him. Starts as paragraph remember Austrian economics in the aftermath of the 28 financial crisis. Number of conservatives rejected Cain's economic prescriptions and claimed instead to be devotees of the Austrian school, especially Frederick Hayek. Question about how many of these sub proclaimed Austrians actually knew what they were endorsing in general, when right wingers talk about intellectual history. You want to fire up your fact checking For example, Mark Levin of Fox News has a best selling book, claiming not just that the current American left is in the thrall of European Marxists. But more specifically that their followers or Herbert Marcus and the Frankfurt school except that he keeps calling it the Franklin School, and that's where you lose it.
"paul krugman" Discussed on Pantsuit Politics
"Fate ball up. The other thing is that it's one of these things that really has even if you think it's right there's no question of all the people involved in this stuff are behaving like well. The i think the frostiness that makes me think it's the blob monster metaphor sort of hard to measure difficult to control and understand. I think we should go at the blog on cryptocurrency. Well maybe it's just go. I mean you ask me why. Why do price crashes always seemed to reverse. And i think we wanna re when prophecy fails when a coats prediction stale could come true. Just doubled that you know where i am on that on that stuff. What do you think of a vision of investing more in a manner american manufacturing. I've been really interested in semiconductor chips. And the fact that america has i think twelve percent of the global manufacturing of this chips now. Is that something that we should be making more of or has that time. Come and gone well a little bit. Put at the the the strong economistic case is to say. Look you don't you don't wanna be. We don't want to go back to grow up. National closed national economies and self sufficiency where produce everything. yourself part because that's inefficient but particularly because it's really bets are very bad world for small poor countries. If if if we didn't have a world where all-male bangladesh can can sell a lot of apparel to the rest of the world bangladesh would be in the malthusian bam and catastrophe right now. So you want to keep the world economy reasonably open question now is whether we have over stretched. I think we've seen to some extent accede thing while as a now Chip shortage that we've a world where to save a few pennies companies have had established these extremely these ten thousand mile long supply chains With many vulnerable leaks. And so you have a fire. Effector and taiwan and all of a sudden. We're having trouble making cars here in america and that's that's overreach and possibly we. I think somebody's been businesses already self-correcting on that they're they're they're starting to invest more in little bit of redundancy a little bit more production facilities closer to the demand but also some with of the problem. We have some problems. That exiting from the trump era because the trump gave national security justifications for economic policy of ruby bad knee government. That starts a blocking imports of aluminum from canada because it threatens our national security that makes it really hard to argue well actually but there might really be national security argument for making sure. We have a little bit more chip production. We did before so there. There are some real issues there but at one thing important to remember is that even if the united states became completely self-sufficient manufacturer goats even if we stopped importing in We limited the trade deficit and manufacturers. We would not be at a manufacturing nation. We used to be because the thing about manufacturing is. It's it's so efficient in the modern world that doesn't take a whole lot of of manufacturing workers to satisfy world then manufactory employment has been declining every year. Not just the united states. That's the the reason we have so few manufacturing workers basically the same reason we have so few farmers.
"paul krugman" Discussed on Pantsuit Politics
"I tried to think of a good like is zombies or our ideas that won't die. What would it crypto currency. Be like i'm trying to think of like a high energy high risk monster. And i couldn't quite think of the right metaphor for this but the wonder if that is what's contributing to people's concerns and i hate to join the long list of people asking you about currency but i mean i it's just it's taken off especially i think in just the zeitgeist and people's awareness of it and especially if there's this thing in the news it's around all the time that you don't understand but seems to be important particularly when it comes to the economy i mean. Do you think that that's contributing to the concerns about overheating. In how come. It's not a concern for you at least when it comes to that. I think if not an overheating if there is a question are we. Kind of having a speculative from them. They're not just cryptocurrencies spot. In house prices saw people the flip side. I said he'll buy. We don't need to worry about. Decks is a recording park that interest rates very low near just don't seem to be mean interest rates being low as it turns. Symptom is basically saying that that businesses not finding a lot of good things to invest. And so there's a lot of money out there looking for a home and having a hard time finding it eager to rent a government which is good for infrastructure but also eager to invest in anything they think might produce return night. That has a lot to do with all kinds of stuff. It gives the reason that that housing house prices are shooting up even in small towns in the middle of of america and doubt crypto stuff. While if you say you don't understand what it's all about joint. I mean i. I have a professional interest in this and i've been part of of a number of what would be conferences in and and dinner discussions and in a different world eventually ended up being. I've been multiple zoom meetings by sits in front of a screen with an alcoholic beverage of their choice to them but the But we we get crypto people. Try to explain what is this. What function is the serving. What does it do. And i have your answer. I mean it's not. It's not for lack of trying and that's So it is pretty wild. Stop the and of course it. And there's by the way the generational stuff alava is okay boomer but but the fact the matters i i know. I know people in their thirties. Who are just as baffled as i am about what all of this is supposed to be doing. I think that's so good though. I think that's just not our instinct to ask sort of what's the point especially when it comes to the economy because it feels like the weather right like well. What's the point. I mean we understand obviously like why it rains but you know what i mean like it just feels to a certain extent beyond our control and amorphous and so it's it's hard to train yourself to ask like well what what's what's the point. What's the what's the purpose of this. One of my basic principles you always want to think about an economic system remember that economics numbers dated but ultimately leads. It's about people if you haven't economic idea. The question should always be okay. What are you saying that people. What what is your story about what people are going to do. What are people going to do with this new innovation that you're proposing our sins to affect how people go about their lives how they do business and make a very good answer for back as it happens in the cryptocurrency will we keep on asking us. Okay so what will this thing. Let me do that. I can't do with a credit card. Or would bend mojo. And i have yet candidate they. It would be one thing if people were giving answers. That were not persuasive. But i've never yet got a an answer at all. So so that's why. I got the your but of course.
"paul krugman" Discussed on Pantsuit Politics
"A history like the science was out there but it wasn't right quite to the masses yet. I believe that is where we are with crisper. So if you do not know at crisper is gene editor. It gives scientists the ability to edit are actual genes so the the possibilities with that with genetic conditions like endless right. But the problem was they were having to like slice. Dna tissues insert like using basically like tina tan molecular scissors. And get the crisper in there. Well that's hard that's difficult do will now researchers have been able to inject crisper into the blood just into the blood of people born with a disease. This was a. I listened to a guy i think. He was in scotland or ireland. It was passed down and it just it started basically just breaking down your body this particular genetic condition. He couldn't walk his dog. They inserted the crisper into his blood and now like three of these people who volunteered for this trial. The their body says shut off production of that particular toxic protein. And so they're better. It's amazing it's a miracle. So like i just feel like we're seen with crisper like it's there. We see that it's going to change. Everything is not available to the masses yet. But it's going to happen and it's gonna be a game changer. I love all of this. In what i would like to propose alongside. It is a program across the united states. Were every adult takes an ethics class. Because i think that as we have these amazing medical developments are reactions are either going to be jubilation without questions. Which i understand and i am grateful for these advancements as well or fear and i think what we really need is to chart a path where we start to speak the language of ethics kind of consistently across our society. This is another learning for me from covid. nineteen a lot of the questions that code presented. We could not resolve with what we knew as a society and so instead we went to fear in one corner or another right fear of something. And so i think we just. We really need a robust discussion of ethics. Not to all agree on how we use these technologies or when they're but to speak a common language about what we're trying to do and how we prioritize it. Oh yeah don't get it twisted. This is powerful technology. Powerful technologies can also be dangerous. I really really wish. I don't know maybe i should write. If i had senators i would actually listen. Try this maybe rand. Paul would listen. I really wish that we would learn from our mistakes with reproductive technologies which we just treated like the wild wild west the doors wide open and said do what you will and now we have people out there with like one hundred twenty five half siblings. I really wish we would take the european approach that we would have like ethics commissions that would have medical ethicists that would have philosophers that would have religious figures on them so that that could come tackle these questions and put some guidelines and regulations in place. Because letting this run. Wild is not gonna be awesome. Awesome my gut instinct. Historical insight spidey sense. Whatever you wanna call it. I really wish that we would not. I'm not hopeful. That's not really the american way. We really liked the doors wide open but it is a very very powerful technology and we are going to have to think carefully. And i don't want this to just tear us apart culturally. I wish we'd have some leadership at the medical ethical level. But we'll see what happens. His conversations driven by fear also a not awesome way to do any kind of problem solving. We've spent a lot of time on the past and the future in this segment so let's dive into the present now. We're going to be sharing our conversation with paul krugman. Paul is a nobel prize winning economist and author an op. Ed columnist for the new york. Times he has been called the mick jagger of political and economic punditry so he seemed like the right person to sit down and discuss what is going on with our economy and try to answer some questions that we hear from you often. Why.
"paul krugman" Discussed on Pantsuit Politics
"I cannot fathom what the cow has first nation is going through what people all across the globe indigenous people all across the globe. Go through as we unearth this history that they've known about the entire time that they've carried the heartbreak and the suffering and they're very cells over years and years and decades and decades. And you know. I am glad that the canadian government is doing this even if it was because indigenous people force their hand and i would like to see more acceptance and more action from the catholic church to face this horrific history. Because tell you what across the globe. A lot of these schools were run by the catholic church the secretary of the interior deb holland in the united states last week announced initiative to start searching the grounds of federal boarding schools in the us. Because as you said we know that this wasn't limited to canada at all it probably wasn't limited to schools run by the catholic church There is a lot of history that needs to be face here. It's going to be heartbreaking to grapple with and also it's really important to validate the stories that indigenous people have been telling us for a long time and these stories are so upsetting. You know i was reading a new york times article that said there people who frequently talked about young girls in these schools being impregnated by church officials and the infants being incinerated. I mean it's awful. It's awful and you know what. I can't stop thinking about as i read about these stories. Just what it must be like to be part of a tribal nation or a person whose ancestors were enslaved and watch the fights that we're having in our politics right now Watch somebody like. Dan crenshaw talking about an olympic athlete. Who turned away from the flag or to listen to the conversations about critical race theory and to just see that we haven't learned anything. You know that we continue to insist on this version of ourselves as heroic and noble and unimpeachable all when the truth is right here in front of us Emma truth doesn't mean that we are condemned forever to behave as our ancestors behaved. The truth is they are to free us of that history right and to welcome us into a world that is so much more loving it just embarrasses me our current discourse side by side with these revelations. It just makes me feel so ashamed as is often the case. Some of the difficult history is really really hard to wrap your arms around and understand. And i always find fiction to be one of the best ways to do that you know. We put this tender land in our box last quarter because i read it last year and i thought it did such a brilliant job of telling the story one small story one small part of these indigenous schools in the histories there. So i highly recommend you. Check out that book if you have if you want to learn more about this history if you want to hear stories about what happened in so many parts of the world to indigenous children so a lot of heartbreak and a lot of grief this morning we also have some really hopeful news. I am so excited. The new york times is reporting this morning that there's new research showing that the pfizer and moderna vaccine the immunity from those vaccines could last year's if you've had cove it and you got the vaccine. They say it could last a lifetime. Beth can you. Please tell the people. Because i did not document this on the show but you heard me say what two months ago. Three months ago that this would be the case. Please tell the people. Sarah has been monpoint her optimism. I have been praising the pessimist this morning. But i'm also going to praise the optimists because there has been on point with her optimism. From the beginning. I remember her telling me that. My parents probably had excellent immunity from getting covid that lasts for quite some time. I remember her saying that. She thinks the vaccines protection will last much longer than anyone was talking about. And so kudos. Sarah and your belief and faith in the sciences You know what. I was thinking about this morning because while i would like it to be just about being like super smart. Let's be us. I'm not like i'm not a scientist. I think i'm smart. But i'm not a scientist honestly think some of my optimism comes with my obsession with history and i just think my like history spidey sense went up because i've heard a lot about these moments in history where science changes things. We're sighing all of a sudden. Everything is different. And i've read enough about it that i feel like i could recognize it and that just from the second. This technology came out. I thought it wasn't the second it came out. I knew about him. Arna result from pfizer came out. I thought okay. When maderna's results came out and they were ninety percent. That's when i was like this is it. Everything is different now. You know. I'm in the gut. Try it on the india graham so my was just like and my history spidey sends. Everything was like this is different. And so just saying everybody should have taken advice though snuff founded in actual scientific studies at that point in time. I just feel really good. That was right. I wanted to be right. Right is good. This is very very very very good news again. I need them to get this. Mri situation for the flu vaccine. And then we'll we'll really be ready to party. I think you're right that things are different now and that we're going to see vaccination against just a host of issues and not just but treatment for previously untreatable or treatable only really grueling ways So i'm super excited and that is not your only positive medical news this morning. No because we are truly. This is another one where i'm like. The history is good a show. This was the moment where things were. Changing. do you remember when we talked to susan page about nancy pelosi and we talked about how her brother who died really missed that moment..
In Praise of Bitcoin
"Friend of the show. Ben hunt has been on an intellectual journey with bitcoin over the last year really longer. But he's been especially forced to because we're jerks and we talked to him all the time about it on twitter and so he kind of had to be but he's written a new provocative piece called in praise of bitcoin. And rather than give it a bunch of intro. I'm just going to dive in. Thanks ben for allowing us to read this on. Today's show and i'll be back in a few minutes to discuss in praise of bitcoin. One evening a few weeks ago. I was on a zoom call with a bunch of academic think tank and fed economists for a bitcoin discussion. A lot of names. You'd know if you're familiar with those circles. The most famous one being paul krugman. Who by the way. I found to be charming genuinely open-minded and surprisingly humble about the entire enterprise of academic economics. I had been invited to be on the anti bitcoin side of the discussion but they needed have bothered. Because there was no pro- bitcoin side crumlin lead with a simple question. What's the use case for bitcoin. Not a theoretical thing. But in actual use of bitcoin to solve a problem in the real world which led to an hour. Long extremely earnest and altogether unsatisfying conversation about financial transfers out of venezuela trade settlement and securitisation. On the blockchain and taylor swift's ability to control the scalper resale market for her concert tickets. All of which are real things all of which are interesting things off at your good things but none of which are got twenty busy people on zoom call at eight pm thursday night. None of which are bitcoin now. To be fair there were no old school. Bitcoin maximal is on the call or if they were. They were too intimidated to make an austrian economics. Hard money neo go bug. Bitcoin is the inevitable. Global reserve currency argument in front of paul. Krugman lol finally couldn't take it anymore. Is this really why we got on the phone tonight to talk about a novel. Form of digital rights management talk about payment transfers out of authoritarian third world countries. Are these really are questions about bitcoin. Answer of course. Not what got these academic think tank and govern comments on the phone that night was bitcoin. Trading at fifty thousand the question that everyone truly cared about but a question that everyone danced around for the better part of an hour was this. Is there any there there. In the price of bitcoin
"paul krugman" Discussed on The Peter Schiff Show Podcast
"I don't think it's that much of a concern and so I would ignore it but I don't recommend the I recommend my fund right when you're buying an ETF. You're buying everything you're buying a basket. I just think that Adrian Day who manages my goal fund with his experience and his knowledge of this industry knowing the players knowing the company's knowing the management teams knowing the minds. I think that he is going to give us a better portfolio. You know. There's you know people talk about the efficient market hypothesis right. All the information is out there. There's no point in trying to beat the market because everybody has the same information. I don't think that's true. Certainly not when it comes to gold stocks. I think there's a lot of people that don't know anything about gold stocks. Who are managing funds? I don't think the best and the brightest have gone into gold right. They've gone into other sectors and very few people have the experience and know-how that Adrian Day does that's why I hired him so I don't think it makes sense just by everything I think. If you've got a smart guy that knows the industry. He knows what to buy and he knows what to avoid. So I think it's worth paying a little bit extra to get a great portfolio. Then the just get a mediocre portfolio buying the good stocks but also buying the bowed stocks. Right just so. Don't by the just by my fund or have an account set up with me that we manage account for you of individual stocks. We create your own gold portfolio in your account of junior miners and some of the senior producers and some of the royalty companies and create a very powerful managed portfolio in the best gold stocks. And hopefully we end up ignoring or avoiding the worst ones Next question comes from UK. A backpack tennis is the guy's name. Hi Peter is there any private ownership shares in central banks? Well look I mean. The Fed is a private bank banking syndicate right. I mean it's not part of the government officially even though they defacto operate as if they were a branch of the government or not in fact if you get a letter from the Federal Reserve. You'll notice that there's a stamp on it why I mean they can't Franken you get a letter from a government agency or they don't buy a stamp but the Federal Reserve is private. They have to buy at the by a stamp. In fact the way the Federal Reserve works they generate a profit but then they pay one hundred percent tax on the prophet that exceeds a set amount. I forget what it might be like five percent or four percent. I forget the prophet that they're allowed to make but everything above that and they earn a profit by collecting interest on their bond portfolio. Whatever but they have to pay one hundred percent tax. Which is one of the reason that these guys are spend. Chris I mean you look at that building I mean. Have you ever seen an image go? Google? It Youtube building a beautiful building. It is the most expensive building in Washington. Dc They spared no expense because it was all deductible it came against their profits right so they had an invested interest in the most expensive the most lavish building. They can make because if they didn't spend the money they were going to have to give it to the taxpayer. Give it to the government so it is the most over the top building in Washington but yeah I mean they are. They are private. But there's no way to buy stock in the Federal Reserve. I mean the stockholders set a long time ago and there's no way to buy shares next question. Silver medals is based in Vancouver and is China's largest silver producer. Why don't we hear about the miners and could China take minds over look? I've owned a silver medals really talk about individual stocks. It's not one of our favorite names in that space. We do have some stocks that we liked the bathroom in fact talk to your civic capital brokers about the stocks that. I personally liked best. I don't give recommendations on the podcast because of the regulators but you can get them from my broker brokers at your civic capital and we do have some silver stocks in the portfolio of the year Pacific Goal Fun but China is a big goal producer. Now factor the biggest. And they don't export any of it. I mean they keep all the gold that they produce so I think that the Chinese have been underestimating. The amount of goal that they have I think they have more gold than they let on. And I think they're going to continue to be big buyers of gold as the price moves up next question from Joseph Sullivan. The funny thing is most blue states. Red States with federal tax dollars Florida and Texas are the only red states paying their own bills. If they leave they will have to raise taxes to pay their own bills. Yeah I mean if you actually look at the dynamics of some of these big blue states like California and New York because there are a lot of very high income people in those states paying big taxes. The states are actually paying more in taxes than their citizens are collecting in benefits. I mean that's true but I if a lot of if a state were to secede from the union if assuming that was possible and they no longer had to pay any federal income tax I think that state would be their economy would be so much stronger without having to comply with all federal taxes and federal regulations that they would need all the government money that they get right and a lot of that government. Money hurts the economy right because the government is sending money where it wants it in ways. That are not efficient right. We always want the market allocating resources so that resources go to where they're most efficiently used and we walked people who are increasing the economy who are contributing the most to make the most. We don't want the government deciding who gets the money. Which is what's happening so I think all of these red states that are actually net recipients of government money. They get more in federal dollars than they pay out all of those federal dollars those taxes and the money. They're getting back is undermining their economies and their comedies would be far more prosperous they would be far wealthier if the federal government got out of the out of the picture completely right but the reason that these states are paying so much in is because they have all these rich people but a lot of these rich people are going to be moving out right. Look I mentioned Joe Rogan earlier. He's talking about moving to Texas. I think maybe he will. I mean I don't know I mean maybe it'll be harder for him to get some of the guests. I mean maybe not as many people in Texas Southern California that come into the studio but look Elon. Musk is talking about moving out of California now and taking those jobs. So if more wealthy entrepreneurs move out of these blue states into the red states then those dynamics are gonNA completely shift next question for Mike Phillips from the US. Peter for Thirty something with five hundred K. To invest your allocation percentage beat a gold gold stocks emerging markets international bonds. Us stocks look. There's a lot of information I don't have about you. I got you know your age. Approximately how much you have to invest. But I don't know the rest of your portfolio or the rest of your net worth what your actual income is and so I can't just blank at least say what you should do with that. Five hundred thousand but yes. I mean you should definitely have a good healthy allocation to gold and gold mining stocks. I mean more so now than you would normally have because of the tremendous upside potential. That is in that sector based on what the Fed is doing now and based on what the Fed is going to do in the future. But you never want to put all your eggs in one basket you do want to have some exposure to the emerging market which I think are very very cheap. You WanNa have money in good dividend paying stocks. I mean there is a balance that you can strike. I mean the good thing about these foreign stocks and I'm buying is that even if I'm completely wrong about all the bad things I think are going to happen in the US. It doesn't mean that you lose money on these foreign stocks. I mean I think far stocks are very inexpensive. Just you know just looking at the evaluation terms relative to the US market. They've underperformed for a decade. I mean foreign stocks did great in the first decade of this century An American stocks did horrible. The next decade American stocks did great. Foreign stocks did poorly. I think we flipped again. And I think we're starting a big decade for International Investing Commodities Emerging Markets Precious metals. So exactly what I've been doing. This is now time for it so yeah we could build a very good portfolio for you. I mean I would set up a managed account the account minimum separately managed accounts at your capital is two hundred and fifty thousand dollars so with five hundred thousand dollars to invest. You've got more than enough to meet that minimum so my suggestion is to go to Europe. Civic capital website and speed to a broker and get a more personal recommendation based on the additional information that you'd be able to share with a representative. So yeah I mean you're dot com is the website. Go there and give us a call appreciate it. Next Question Smash Bros Brawl. Would you say that? The S five hundred and artificially inflated Home Equity Are Defacto Government. Retirement vehicles therefore not allowed to go down. Well I do believe that the government is trying to prop up asset prices as a matter of policy right remember this entire recovery. Right was was built on a foundation of an asset bubbles by design right. That was the whole idea. I mean Ben Bernanke. He laid it out right. We're going to make real estate prices. Go UP WE'RE GONNA make stock prices go up and as a result of that people are going to spend more money like we're gonNA create all this paper wealth which I that's exactly how we got into trouble. It was all the phony wealth of the real estate bubble that caused a financial crisis when all that wealth vanished and all the people stop making their mortgage payments but the Fed was just all right well. Let's just inflate a bigger bubble. Because that's all they know how to do. They have no stomach for a real recovery so we just went back to another bubble because politically. That was the one that was the easiest path to go down. And so yes of course they are targeting asset prices. That's why when the stock market goes down the Fed cuts rates the Fed goes back to. Qe They're trying to keep the real estate market up there trying to keep the stock market up but they're damaging the economy in the process which ultimately is undermining the value of stocks and real estate. That they're trying to prop up so the more they try to artificially prop up asset prices more real value destroy of the asset. They're propping up so eventually the whole thing comes tumbling down either in reality or in real terms because we have hyper inflation because the dollar crashes instead of the asset prices going down the value. The dollar that they're priced in goes down and the result is the same. You get wiped out right instead of having less money you have more money but you can buy less stuff with it and that's where we're headed next question. I'm in my twenties. I do not have a lot of money to buy goal. There's anything I can do to set myself up to succeed. Well I don't know how much money you have. You could buy silver but if you don't have much money look you don't have anything to lose right other than the value of your wages but if you're spending all your wages as you earn them well you know you're not going to get wiped out to inflation in fact if you have some debt than your debt will get wiped out. I mean you end up suffering because you're living in a poor country but as an individual. The people who have the most to lose are the people who have the most savings the people who have the financial assets that are going to be wiped out. I mean one of the things I have advocated for. People who don't have a lot of money is just a stock up on stuff right. I mean if you have an extra hundred dollars or two hundred dollars there's no point in saving it just by more stuff right. I mean stuff that you're going to need like buy more food by more supplies by things that you're going to need the buy in the future if you got extra cash just by those things now in storm in a closet somewhere because when you go to buy them in the future they're going to be more expensive that's just the reality or they may not even be available right. There are a lot of products you might not even be able to buy stock up on those next question. Been watching listening and reading you. Since two thousand and seven. Thanks Roby my eyes. It's changed my life for the better. Keep up the great work. Oh that's just a compliment. I appreciate that Zellerbach. Pike see interesting. We're name but anyway for the compliment up. That's the next one to is just a compliment. Guy Pay me ten dollars. Thank you for what you're doing. Thanks for the ten bucks. That IS TEO NEXT QUESTION. Chelsea from the UK. A how can I convince my family to buy goal? They think their money in the bank is safe and they aren't willing to buy gold unless I say I will guarantee that they won't lose. Yeah you know I get that two people say hey we will you? Will you guarantee me that I don't lose money? Course how can I guarantee that you won't lose money right anybody? Looking for a guaranteed. There are no guarantees. The only way I can guarantee that you don't lose. Money is don't invest it right. Keep it in you know..
"paul krugman" Discussed on The Peter Schiff Show Podcast
"I mean I'm not even sure what he got it for But I'm sure whatever it was I would disagree with it but in any event they're very opposite guys yet. They're on the exact same page. When it comes to the Federal Reserve both Paul Krugman who supposedly believed in sound money and the gold standard and Paul Krugman right. Who doesn't believe in a goal set at all right but these two guys both want the Federal Reserve to print a ton of money keep on printing right. They're both advocating government deficits right. I'm sure Steve Moore would prefer the deficits resulted from tax cuts. But he doesn't carry wants deficits so even if it means more government that's a trade off. He's willing to make because he wants to fed to print more money. Because Steve Moore according to Him. The prosperity killer is the flation. That was his article. His op ED. That I read it was like the real prosperity killer is deflation right so we can't have deflation so the most important thing is that the Fed saves us from this man is of deflation now. Of course I've talked about that. This on the podcast. Deflation is not something that we have to be saved from the in doesn't kill prosperity. Deflation Causes Prosperity Right. At least when he's talking about deflation he's talking about falling prices. Falling prices are what we want because when prices go down we buy more stuff right which is good. We want to have more stuff that cheaper better right and I know people say well. That's bad for business. No is great for business because their cost. Come Down Right. There cost Sir also prices and when your costs come down and your prices go down you can maintain your margins but what you can do on. Your prices are down as you can sell more stuff so you do more volume. You make more money. Selling more affordable merchandise so deflation is not a prosperity killer. Now the mistake they make right they go back and look at the Great Depression of the Nineteen Thirties. Right Oh prices went down. Yeah prices went out. That's not what caused the depression. They want to act like because prices went down in the thirties. That's why we have depression. No that's not why we had a depression. It's the depression that caused prices to go down but price is going down. Weren't the problem. They actually mitigated the problem. They cushioned the blow for people to see that the cost of living wind down to try to blame the depression on the fact that prices went down. That's like you know blaming the rain on web sidewalks. The sidewalks are wet because it rain. It didn't rain because the sidewalks are wet. Depression because prices went down. You gotta pack. Words prices went down because we have the recession. The depression and you know the same thing happened. I talked about that. On one of my podcasts. Not Too long ago when I saw the airfares right airline prices ticket prices just collapsed right. I was taught. I think I mentioned on the podcast. I saw like a three dollar or dollar fair from San Juan to To Boston I mean just crazy price ridiculously low prices. That was the knee-jerk reaction you know. All of a sudden nobody was flying so the airlines just cut their prices and that actually hit the CPI we got such low print was because of the collapse in airfare. Well Anyway I happen to go on the Internet couple nights ago because I want to fly back to Connecticut. I've been here in Puerto Rico and I WANNA come back in early June and go back to Connecticut and so I'm looking online and sure enough. The air fares have gone way up. I mean there are more than they used to be right. The coach Fares I was looking at were anywhere. I can get sometimes. You can get a flight for that. Cheapest I saw was one eighty five hundred eighty five dollars one way but most of the flights were to twenty five to fifty three four hundred. That's not what they used to be if it wasn't a holiday right so obviously if you WANNA go. Thanksgiving weekend or something like that. Yeah they jacked fares up but to just go on a normal day. The cheapest fares one way coach. We're usually around one hundred fifteen one hundred twenty five dollars. There are plenty of them that you could find one hundred fifty one hundred seventy five. Mostly those are gone and a lot of the flights there used to be jetblue had a direct flight to Hartford. Sometimes you could take that because it's not that bad. They canceled all those flights. They don't exist. The only way to get the Hartford. Is You have to connect and it takes forever but the business class seats. I like to fly business class. Delta's the airline. I typically fly. They had generally the best business class. Go in between New York and Puerto Rico and the last time I flew I checked. I looked at my receipt. I paid three hundred and forty five dollars. One way for business that tells you how cheap it was because coach. I probably could've got a coach ticket for one fifty but I pay three fifty three forty five for business right. The cheapest business fair I saw for Delta was one hundred eighty eight thousand nine hundred dollars like eighteen hundred change and there were barely any flights to choose from. Most of the days weren't even any flights at all. I mean they had flights every day before so they have completely reduced to flights even coach on Delta. I couldn't find a one way coach fair on Delta for less than twelve hundred dollars in fact the one flight I was looking at that had eighteen hundred dollar business. The coach was almost seventeen hundred. There was only one hundred dollar difference between coach and business. So what's happened is after the airlines you know took a lot of planes and put them off in the desert somewhere right and storing them and they cancelled all these flights now. The prices have gone way up. I said this was going to happen. The knee jerk reaction is that prices went down but now prices are way up now. Our consumers better off now that the prices are way up course thought they were much better off before they went up now. Of course. Most people still aren't flying. So what difference does it make right if you work in a fly anyway? It doesn't matter what the price of ticket that you're not buying is but if anybody has to fly or they WANNA fly. It's a lot more expensive now than it was before cove and it's way more expensive than it was in the immediate weeks after coverted but according to like more. The problem isn't that airfares went up and said that they went down that the falling price was the problem. Now it wasn't the problem. It was a consequence of the problem but for the economy. Are we better off? Now that we have to pay more to fly course thought but those are the realities of a falling standard of living but the reason that Steve Moore is trying to set up this phony. Boogeyman OF DEFLATION IS. He wants to fed to print more money and so the way to justify wanting more inflation is by saying that deflation is terrible and we have to prevent that and we need these defended print. More money now. Of course what Steve Moore really wants is the Fed to help trump get reelected and he thinks the best way to do that is to prevent the stock market from going down prevent the real estate market from going down and just print a bunch of money to finance all these tax or increases in government spending to put a band aid on this cancer long enough to to re elect trump but it is amazing to see a guy like Steve Moore. Who's a nice guy? I know him personally. I met him many many times. We we speak at a lot of the same conferences or we did before they all started to get canceled. Now that people are going to them but to see him advocating for massive deficit spending and money printing because he thinks that we need to be saved from the ravages of a fallen cost of living. We don't need to be saved from that. We need to be saved from big government. It's the increased government spending. That is the problem and monetize that dead paying for that. Spending by printing money is an even bigger problem. And Steve Moore should know that but no instead he wants a Keynesian stimulus and he wants to pay for it by the Federal Reserve printing money to supposedly saved us from collapsing prices. That aren't even collapsing. A. It's not even a bad thing but it's not even happening. Yes it happened a little bit initially but you know that's going to go away once all the going out of business sales or finished. Well I mean once you deplete the inventory and you don't restock it. Prices are going up right. What's happening in the airline industry is just a taste of what's going to be happening in the overall economy and so the problem for the. Fed is what happens when we have an inflation problem as measured by the CPI. What can they do about it? Nothing now how they gonNA fight inflation. How are they going to raise rates? They can't how they can shrink their balance sheets in order to raise rates they gotta start selling a treasuries they gotTA START SELLING. Muny bonds they gotTa Start Selling Corp how they going to do that when now. Everybody is counting on the Fed to buy all this crap having to turn around and sell it. And who the HELL'S GONNA Buy? Then what price? So they have really put themselves in a box but now you know I want to get to to Paul Krugman right because Paul Krugman. He wrote his article and Croghan is now being critical of trump and other republicans who are anxious to get the economy going again right. They want to reopen and Krugman is like. Oh this is reckless. You're risking causing a depression right. The biggest mistake we could make is go back to work too soon right. We don't want people going back to work because they might get sick right. We might spread the virus so in order to make sure that we don't in fact more people then we gotta stay sheltered at home longer and if we come out of hiding too soon that is the risk right and the Republicans are just. They don't care they just trying to make it look good so before the election and so they're risking depression by bringing people home to quickly. What Krugman wants is everybody to stay home and not work and have the governor to keep on printing money because he was saying that. Fortunately it's fine. Nobody has to work. Nobody has to do anything because we could. Just send out all these checks. We print all this money and give it to people and so. Craig was not worried about that at all. Somehow that's not a problem. There's a big difference between working for money and just having the government printed you see when people go to work they do something at least most of the people right. Not The government workers but the people that work in the private sector. You go to work and you are producing something. You're helping to produce some good. You're helping to provide some service that has value and what you're paid is a percentage of that value that your labor is helping to create so for adding something into the pot. You now get money that allows you to take something out of the pot right. We all put in with our work and then we get to buy some of the stuff that we help produce right if everybody just sits at home and doesn't produce anything but the governor just replaces. They're lost income by printing money. There's a big difference there because you're getting money and you're not doing anything you're taking out of the pop but you put nothing into the pot so all it's happening is we're bidding for stuff. That's not there right so Krugman doesn't think that's a risk at all. He is not worried about the consequences of not sending people back to work and about continuing to run the printing presses continuing to pay people to do nothing because he doesn't see a with that because he loves government spending he thinks government spending creates wealth. And Right. Now I guess Stephen Moore is on the same page because they both advocating for the same policies. Nobody out there on either side advocating sound money saying no no. No this is wrong. We can't do this. We print all this money. We can't run these deficits we have to cut spending. We need sound money because nobody wants to deal with the short term economic and political consequences of doing the right thing so instead we do the wrong thing and because we got away with doing the wrong thing from two thousand and eight until the present people think we can get away with doing the wrong thing indefinitely well we. Can't you know the people who were worried about the problems in? Oh Eight. Oh nine like me. We were right. We were early but we were right. The people who weren't worried we're raw. They don't realize they were wrong because the consequences were delayed and because they were delayed guys like klugman think that they were vindicated right because nothing bad supposedly happened and guys like me were proven wrong. Well what's about to happen is going to prove guys like me right anyway before I get into the questions and we got plenty of questions which I've been answering on Friday. I want to talk a little bit more about our sponsor express. Vpn So what make sure you know express VPN the the the thing about it is your your ISP Internet service provider right when you just browsing the Internet. Your Internet service provider knows every site that you visit..
"paul krugman" Discussed on P&L With Pimm Fox and Lisa Abramowicz
"As well as at Bloomberg Dot Com when you think about the broader sap for the peak to trough when this virus really hit the markets we had about a thirty four percent decline in the SNP the markets kind of carve backer clawed back about half that and for a lot of investors. That seems a little bit unusual. Given or incongruous with the date or seeing the economic data the jobless data and the data that were certain to see over the coming days weeks and months to get a sense of how. That's really playing out in that. Relationship is there between the equity markets and the economic environment. We welcome Paul. Krugman distinguished professor of economics at the City University of New York. Also New York Times columnist and Nobel laureate Paul. Thanks so much for joining us again. A lot of our listeners. A lot of investors are not sure whether or square it with. What's going on in the economy? The pain they're seeing the economy yet. The stock market seems to be pretty solid. Yeah well the first thing to say. Is that stock market as I like to say there are three rules about the stock market and the economy. Which is the stock market is not the economy. The stock market is not the economy and the stock market has comedy I actually beyond the fact that there's a whole lot of psychology in the market and All kinds of things can move stocks There's the simple fact that There were there's another market that is much more closely linked to economic prospects which is the bond market the bond market has been telling us something very clear they do look at as long term interest rates. You see that The ten year is falling from almost Actually a little over three percent At at the beginning of Twenty. Nineteen and Well over two percent of You know not not very long ago to To fracture percent now thirty year rates down by half since Since last fall So the bond market is is signaling economic weakness That has a bearing on stocks. Because you know bonds are the alternative stocks. A stock is a clean. Future profits not just prophet for the next year profits some ways into the future and if you're a discount those future profits at much lower rate because interest rates are down That's an upward push for stocks. So why don't you take into account the full and interest rates? It's not so peculiar. That stocks have held up pretty well despite these calamitous economic numbers. Paul is what I'm hearing from. You support of the Fed bottle the idea that the lower the interest rates the more people will just be pushed into stocks because the relative earnings that you get ultimately pro proved that they Become attractive regardless of what the economy seems to be showing me. That's not I mean that's sort of obvious right if you think about it. There are stocks are competing with with other assets And for money. You can't tell what stock is worth until you tell me what. What are. The alternatives and the alternatives are are actually looking pretty grim Market just saying there's not much yield. Well you say it's kind of obvious and yet we see that the earnings yield is falling dramatically on stocks as they cut their dividends. They cut their payouts just in general share buybacks because they are running out of money so at what point is getting your money back a preferable outcome than risking it with a company that faces a very blake outcome. Well I remember the the earnings yield on bonds also very long now again. It's a really long term PAS. Half what it was Before the corona virus hit and so You would extend remember also that For the value of the stocks depends a lot on expected. Future Deals NOT JUST THIS YEAR. But but three four five maybe even ten years out so they it's really not that accuser of what the all the question is at what point do people say. All of these yields are so low that I'm going to. I'm scared I'm just GONNA Coen's into cash And that's That actually was happening for a couple of weeks arch. We had a point there. Where everything froze. We'RE WE'RE BOND. Prices and stock prices both still have where we're corporate bonds were selling at the yield on corporate bonds. Shot up because people work Afraid of default and the stocks cratered That came to a pretty abrupt end In late March and stocks rebounded making up or something like half losses that they've experienced but that's the story the as long as people are not afraid of a real financial crisis and at the moment that that fear has receded of then it makes sense for socks to hold up pretty well despite the a truly ghastly really economy talking about the the real economy Paul. We've seen obviously the second quarter. Expectations are for just crushing crushing contraction in GDP. But then I guess the real discussion becomes to what extent and over. What time period will the US economy recover? We've had the fed very aggressive. We've had fiscal stimulus from Congress and more likely to come. How do you think the recovery plays out? I won't ask you to give me a letter or wwl or anything. But how do you think this is going to play out? Actually I won't give you. It's not a it's not a letter. It's a swoosh is very very steep decline and then a client the only which is clearly going to be much lower than the crash And it's the question of how fast rise Going to be is actually one of the hardest things we we really don't have experience with this that the we you can tell stories going all directions. I I have no confidence at all in in any prediction including my own on this On the one hand or could be pent up demand. people raring to go on the other hand There's probably a lot of financial damaging taking taking place down businesses Business can't come back if the business gone under of consumers may be wanting to rebuild their balance sheets after After the beating they've taken in it at the peak of the crisis And also the the epidemiology is highly uncertain. You said well we're going to be ready to go back to business. Are we mean everything I see? So that If you take out New York which had a very steep peak and in cases and it's now falling the rest of the country things are still getting worse and so your guess is really as good as mine I I. It's used to certainly. They can't count on a rapid recovery. Flying Blind is the way a lot of analysts. Have put it. And that's definitely how I feel right now. Paul Krugman distinguished professor of economics at the City University of New York New York Times columnist Nobel laureate and really a really helpful insights into this issue joining us on the phone from New Jersey. We are expecting a truly horrific jobs data figure on Friday when we get the April jobs. Numbers were expecting more than twenty million jobs to have been lost and we saw number similar to that this morning from the eighty.
Feds should call Big Tech to fight COVID-19, says Silicon Valley lawmaker Ro Khanna
"Microsoft has created a chat. Bot THAT CAN HELP. Us S Kobe. Nineteen symptoms the. Cdc is using that apple has designed and is shipping a new type of face shield for healthcare workers. Ibm is loaning supercomputing power scientists and universities trying to understand the spread of the corona virus and tech billionaires ranging from Bill Gates. Jeff bezos. Most recently Jack Dorsey have pledged donations to food banks and other resources supporting people through the pandemic but should companies be taking on roles that governments could be playing and more importantly is our government prepared to actually use the tech industry effectively to combat. This crisis congressman Ro Khanna Represent Silicon Valley in the House of Representatives. He says there is still a lot of untapped. Potential apple just has helped with procuring. Twenty million masks and face shields. Tesla's of course producing ventilators. Google is trying to get information out but there are a few other things that we could be doing if we listen to them. I we could be Enlisting some of these tech companies to get the money out faster. I mean Paul Krugman at a great column about how the money is getting to the people who need it. Let's having national database. That's crowd source of for the covert crisis where we can use a I to draw conclusions. We don't have something like that. People in the valley could do that. Let's get a platform that can help for Telehealth Again that's something that Silicon Valley could contribute to and then we need for more funding if there's one thing. This crisis has told us far more funding for basic science research on vaccines and developments in antivirals and a lot of people in University of California San Francisco and other places of the valley could assist with that. So what does it take for that to happen? Are you saying that those companies should step up? Offer that or that. They should be asked to do that or both. That they are offering it so cases it requires a coordinated response. I mean part of me wishes that just for this period Bill Gates were president. I mean it Bill Gates were president basically warned about all of this in two thousand fifteen and he would. He would convene all the people in a room and say. Here's what I need you to do. And he understands science and technology. But if you don't have a understanding and appreciation for science and technology you're not harnessing all of the tools that actually are accessible to do you have a sense from talking to these companies. And all that. They're just like itching to get in here and there not being called there. It's worse than that offering. Things aren't being taken up a for their offers. One of the entrepreneurs designed an ingenious platform to allow hospitals to signal whether they need medical equipment and allow people to supply them in. They haven't been able to get this implemented You've had people saying. Let us help with creating a national database. Or let's help telehealth and I applaud them for that but what we need is a far more technologically sophisticated response and the irony is. We've seen that response in places like South Korea and China. Now they've had problems there. They became almost surveillance states. And I'm not recommending that we adopt sort of surveillance technology but we should know what technology can do and then harness that a while recognizing in respecting people's privacy. Right the same concerns over. Privacy have always been there and in some cases you know. Surveillance and data collection may be expanded by. What feels like necessity. Do you think some of those concerns. Go by the wayside now. No I think those concerns are there. I mean I would not want us to have a situation like South Korea China where you have cameras in a smartphones monitoring My movement so when I go out the government knowing whether I'm violating social distancing rules. I think that's way too intrusive and I certainly wouldn't want my health records going to the government or other entities but do I have a problem with a data going and being anonymous and then having a sense of whether Washington DC has an aggregate is sheltering in place correctly or not and where we need may need greater policies. No I think that's a useful so what I would say is. Let's use data in a constructive way. Let's have the guardrails for privacy But right now. I think you have to extremes. You have some countries using it as a surveillance state and then unfortunately in our country. We're not using it. Well enough
Obama pushes Trump’s button on the economy and Trump responds
"President trump is fighting back at former president Barack Obama who's taking credit for the trump economy Obama tweeted Corey Levin years ago today near the bottom of the worst recession in generations I sign the recovery act paving the way for more than a decade of economic growth and the longest streak of job creation in American history end of quote president trump's national press secretary respond it quote president trump reversed everything failed obamacare economic policy and with that reverse the floundering Obama Biden economy Obama and Biden orchestrated the worst economic recovery in modern history end of quote let's explore the showing that what you hear over and over and over again is how Obama laid the foundation for the trump economy but for the wonderful things that Obama did lord knows where we would be may I remind you of some of the things that so called experts like mark Cuban the owner of the Dallas Mavericks and experts like Paul Krugman the economist who also writes a column for The New York Times both predicted economic disaster in the event the president trump came in great to have you with us and let's put politics aside we're just talking about this notion on the street that seems to be early prime one out there that the trump presidency could actually hurt stocks what you're calling for though is very dramatic and drastic a fifty percent decline over his presidency would be four years so let's get through the the back of the envelope calculations here how do you get there it it would definitely fall yes for two reasons I mean you saw it when they call me email came out with a with the market and and so trump's temperament which I think is a significant issue for the market whenever you have a clue I would handicap if trump wins I would handicap the the likelihood that the probability that he would say something stupid and offensive during a four year term multiple times at a hundred percent because markets were reassured Marley Clinton was doing okay it markets markets would be very destabilized by conflict for instance particularly as if the on likely event happens and trump wins you will see a market crash of his star performer proportions I thank them for causing it it's made for the incoming trump was to be elected it would be a rise in on the stock market arrives Russian until that I mean I I have my trumpet John in the event Donald wins I have no doubt my mind the the market thanks and now the reason this is relevant is because Donald Trump of course a plan to reverse obamacare lower taxes lower corporate taxes those are not the kind of thing for the point was promising so therefore they assume that by doing those things he was going to crash the economy I find it fascinating that Obama and the Democrats taking credit for the economy more with a set up that the trouble due to economy and how many times have you heard them say that president trump has been quote undoing Obama's legacy even doing a bomber's legacy how do you take credit for having undone his legacy left wing black host of shows on be on PBS and on NPR Tavis smiley in twenty sixteen I'm sad to report that in every single leading economic category black America has lost ground over the last decade in every major economic category we've lost ground to this book comes out he said in two thousand six so clearly this book was out before mama shows up to win two thousand eight so the book was never about Barack Obama being this ten year update it's not about him now but it is true that doubt over these last ten years most of that on his watch black America has lost ground in the major economic indicator categories that is true given the credit this is B. E. T. founder Bob Johnson last July I'm wondering I'm giving your position in the U. S. and and your familiarity with what many have called trump's brinksmanship when it comes to politics I'm talk me through a little bit how do you feel about the economy today well I think the economy is doing absolutely great and so African American unemployment is at its lowest level Hispanic unemployment women so I I give president trump and I've said this before on squawk box and the president a lot of credit for moving the economy in a positive direction that's benefiting a large number of Americans Thomas Dyer a billionaire a late entrant into the race appeared on ABC's Sunday chat show and started downplaying the Tropicana me and surprisingly Martha Raddatz the host pushed back a couple times is that Mister Starr you say that you can take on Donald Trump on the economy but the latest Quinnipiac national poll again released just this week says seventy percent of voters described the nation's economy as excellent or good so how do you convince them that a change is needed when they think they're doing so well under Donald Trump I think if you take a look at what he says everything he says superficially sounds right but is actually alive so when he says the economy is growing I can show that in fact all the money's going to rich people but I want to go back to that seventy percent number you want to talk about the wealthy they're not all wealthy people seventy percent say the economy is good and they're doing well well I'm just sitting here here we are on a show and you're standing up for Mr trump's version of the economy I'm telling you about a national poll I'm not standing up for anybody I'm try I'm telling about a
"paul krugman" Discussed on TalkRadio 630 KHOW
"I couldn't agree with him more and I'm sure if you think about the history people sell books and go on TV and get reviews because they are when they when they forecast something awful maybe you remember the night that president trump was elected Paul Krugman it was a Nobel winning economist at the world was in for a worldwide depression if not at least the recession and look what's happened since themselves of Paul Krugman's I don't know how I got to know will price causes predictions never work out but anyway trump was talking about people that forecast bad news like in the sixties the overpopulation crisis in the seventies it was we're running out of food and and and we're we're we're coming to the end of of civilization because we we just we can't support of the population we had will be mass starvation and famines and panic the with the world is in for a cold spell the new coming ice age that was the seventies and in the eighties were running out of oil it talked about peak oil we've we've we've got we're running out of oil no doubt about it there's some folks that predicted would be pretty much out of oil and natural gas by the year two thousand and what these prophets of doom forget in this is what the president is trying to say and this is one of my favorite topics is we solve future problems with future technology we don't have to have the answer today to tomorrow's issues we think back.
How a Strong Job Market Has Proved the Experts Wrong
"US economy created two hundred sixty six thousand new jobs in November also they revise the numbers from two previous months adding another forty thousand so that is a a whopping three hundred thousand plus new jobs and houses for a headlock thanking the just popped up on the New York times website hello strong job market has proved the experts wrong The New York Times says all of the experts were saying we were already at full employment we couldn't possibly create more jobs without sparking inflation so they're saying the economic experts including the federal reserve were wrong and the experts with their attitudes about the tax cuts were wrong according to The New York Times yeah that's that tells you the numbers are really doggone good if the New York times even has to fall on the sword it was our own columnist Paul Krugman who was predicting doom and gloom when president trump got elected employment used to be you know sort of a guy down around five percent unemployment mark and that was full employment and here we are at three and a half percent it had been for quite some time now yeah inflation is under control wages are going up hiring continues at a very strong pace three point five percent unemployment and still more job openings than there are the qualified workers you can only imagine what the numbers might be if there were enough qualified workers to fill some of those jobs and if the terrorists had been a part of the equation for the last year and a half or so couple yells yeah that that is an interesting point Kitty if if you don't have the battle over trade with China yeah where would we be it could really be on fire and police released and and it could it could you know main there were inflationary times and the and the fed will be looking to try to increase interest rates instead of on a pause or considering lowering further so it's just it's a hypothetical but it
"paul krugman" Discussed on 790 KABC
"Dot com slash span okay so Paul Krugman continues and he suggests of course that red and blue voters are moving in different directions in terms of life expectancy and he tries to blame that on Republican policy Goodman says democratic leaning areas used to look similar to Republican leaning areas in terms of productivity income education but they've been rapidly diverging with blue areas getting more productive richer and better educated in the close presidential election two thousand counties that supported Al Gore over George W. bush accounted for only a little over half the nation's economic output in a close election of twenty sixteen counties that supported Hillary Clinton accounted for sixty four percent of output almost twice the share of from country and you think that is due to great liberal government or do you think that that is due to the shift away from manufacturing the shift toward a service and knowledge based economy that thrives in major cities like San Jose the economic trends in the United States are toward big cities that is why people are moving to big cities it's why the migration patterns are all for bay cities but says Paul Krugman the thing is the red blue byte isn't just about money it's also increasingly a matter of life and death in his recruiting goes way off the rails suggesting that if you live in a red area you're gonna die if you live in a blue or you're gonna live people ought to shift their areas red to blue and then they will let some have voting for Democrats is finding the the well of eternal life is back in the bush years I used to encourage people encounter people who insisted the U. S. the world's longest life expectancy they had looked at data they just assumed America's number one on everything even then it wasn't true U. S. life expectancy has been below that of other advanced countries for a long time okay even there he is neglecting to take out of the system homicide and car accident death and suicide which does actually put the United States number one in life expectancy last time I checked in any case he says the death cap has however widened considerably in recent years as a result of increased mortality among working age Americans is rising mortality hasn't turned and largely a result of rising debts of despair drug overdoses suicides in alcohol the rise in these deaths has led to declining overall life expectancy for the past few years but then he analyzes the states when he finds is the divergence among states is striking is that look at states that voted for Donald Trump versus state that voted for Clinton twenty sixteen and calculated average life expectancy waited by the twenty sixteen population in nineteen ninety today is red and blue states had almost the same life expectancy since then however life expectancy in Clinton states has risen more or less in line with other advanced countries compared with almost no gain from country at this point blue state residents can expect to live more than four years longer than the red state counterparts okay what he's trying to do is point the error of the wrong way and it's very obvious statistical tricky plane right he is suggesting that the states that are read in twenty sixteen if you go back to nineteen ninety they were pretty equal in life expectancy but now there's been this big diverging gap there's only one problem if you can the nineteen ninety two presidential election not the not the twenty sixteen presidential election we'll be including states that have been hit extremely hard by the opioid epidemic this is the man had heart my suicide and economic stagnation states like Ohio and Wisconsin and Pennsylvania Michigan right those states have increasingly cutting in a trump direction since nineteen ninety two coming up and bring you some more information on income inequality in blue areas and death rates in red areas are these because local governments for because a broad national friends brought about by the left over the course of decades this is the Ben Shapiro show ABC dependable traffic right now sponsored by lows northbound side of the four oh five Rosecrans an accident here the carpal three left lanes the backup already through Artesia Boulevard and southbound lays the one oh five continuing busy in the Long Beach sell for five sand canyon at a crash clearing Adelaide's all of the right shoulder and five freeway southbound Alicia parkway another accident glued to the right shoulder starting to back up as well eastbound sixty it rose me precious cleared the delays and.
"paul krugman" Discussed on 790 KABC
"A restoration of a set a certain sense of social morality left but the way over the course of decades the reason that comes up is because Paul Krugman has an awful column today in The New York Times it's incredibly simplistic and statistically illiterate basically in which Paul Krugman suggests that life expectancy is the finding a red state and it's increasing in blue states and this is due to red state blue state governments levels in just a second that's not make a whole hell of a lot of sense to Paul Krugman says he had his column is titled America's red state death trap now I can't let me point out if you're going to attribute the declining life expectancy in red states and rising life expectancy in blue states the government itself then you would also have to attribute presumably income inequality in blue areas that is rising steadily and faster and red areas too liberal governments so which is it or is it possible that both of these friends are being driven by broad national trends not by local governments and the problem of life expectancy is not being driven by the governments in Georgia anymore the problem of an income inequality is being driven by policy in New York now there's things around the fringes they can exacerbate these problems obviously if you are in New York for example and you create rent control policies that basically prevents new building this is going to increase the price of rent over time and what you're going to end up with is more of the living on the street but there are policies you can take that are going to exacerbate the problem but the underlying trends are actually broader and everybody is struggling to deal with them to simplistically boxing this into life expectancy going down in red states because red states are badly governed or income inequality going up in blue states because blue states are badly governed is ignoring the underlying trend what exactly is driving all the sepulchral men being kind of a full does exactly that yes a piece today as I say titled America's red state death trap because each of us will out of many one is one of America's traditional models you might think of your flight in reality we aren't after all just United politically we share a common language the unrestricted movement of goods and services in people is guaranteed by the constitution shouldn't this leads convergence in the way we live in thank in fact however the past few decades have been marked by growing divergence among regions along several dimensions all closely correlated in particular the political divide is also increasingly and economic divide well I think that it is also fair to say that the economic divide is also increasingly a political divide so the era of causality may run either way what what proven is trying to say is because your red state your backward well maybe it's possible that because it red states are being left behind economically and a lot of ways because everybody's moving to major metro areas that that is causing people to vote for bigger at its vote for Republican policies in order to allow them the opportunity to grow economically if you vote for big state policies what you end up doing is actually driving down your opportunity in the states it's people are voting their own interest and is this peculiar idea on what the vote Republican you're always voting against interest if you are not wealthy and this is something is put four by Thomas Frank and buckle what's the matter with Kansas and idiocy many people are voting in their economic interest they just don't perceive their economic interests in the same way Thomas Frank does and maybe they also perceive that their economic interests are tied very closely into their social interests and that having left it crams down social policy that cuts against church the cuts against family is quite bad for their local community and as we'll see that is actually different what we're actually seeing right now is to trends in the United States one is is economically leading to greater income inequality which again I've never signed I've never seen income inequality itself as a huge problem simply because if everybody's GDP per capita is growing meaning if you are earning more than you did last year number capture it right if you are earning more than you did last year why do you care that somebody else is earning more than they did last year at a greater rate than you are in it's just pure jealousy but if we are concerned with income inequality then our new knowledge based economy is creating a sort of bubble in income inequality bubble and at the same time we are quickly secularizing country and those two things are not going to hit everybody equally they're not gonna hit every equally the income inequality bubbles going to hit specifically the areas where income is the highest right which would be the cities and the and the social policy bubble is going to hit those areas specifically that in the past we're reliant on social secretions like churches in marriage and now no longer are engaging in those sorts of activities I'll explain in just one their first let's talk about the simple fact that they're tons of people who want your data why well if they got your data thank you to sell it or they can monetize it or they just steal it and then steal your credit card number and then make money off you that way recently over a hundred million people and their.
"paul krugman" Discussed on KLIF 570 AM
"Here. This is the program to go through the financial headlines of the week. Head fakes and areas that could help your portfolio including warnings to help your portfolio from big mistakes. What a big mistakes, people made was missing the energy pounds. Alex. I had a client bring in a story, it was big headline in would've the northeastern newspapers. They don't like very much up there. And they were saying all these shale companies, their wells just run out really quick, and then they're going to have spent lots of money, and then there won't be any production in this whole thing is just a farce down in Texas. It's kind of a Paul Krugman, esque type article he'd had negative. He didn't actually do it anyway. What's the real story on this week's headlines? Star Permian basin, man show productions up in a way. Yeah. Or increase this year. And his way bigger than Venezuela's output. And they one time where the star producer on at least the, the two continents, right? So Permian watch premier field, adding Venezuela size output, bump that was the that was the other headline regional crude production seen rising. Twenty two percent next month. What? That's us. Yeah. I mean it could cause prices to go down there, which is which is key. But oil did rebound buff, sixty three at the highs this week, sixty six was the high so far this year seventy seven was last year. So that's just gave me an idea. Spencer. We'll tell us because that's what the programs about the we, we, we get some Ellen g freezer, trucks, and we film in, then we derive. And we say right outside of Boston until the freeze comes and we'll yeah. Then we can offload the truck, and then we get off of a hundred dollars per million PT. You think you're more valuable at your day job, but it's just saying just save for free. They would do it on a Saturday. Okay. So. So that's, that's it. So. Yeah. Because Boston imports liquid natural gas from Philadelphia. No from Philadelphia and Russia to New York in in, in, in Boston. I think both had to import from a Russian Ellen, g carrier. Yeah. Well, who is leading the charge with the newest export facility at member. Energy ten billion dollar export terminal. They started that recently exports around Louisiana. I'm telling you, it's going to suck all the natural gas out of the Hanes Ville, so that giant sucking sound that's liquid natural gas debt, going out and east Texas had had a high gas production versus oil. And so what that natural gas bubble. It'll get siphoned off that'll have other applications. But I guess the, the main thing is these eligible export terminals. That, that is one of the growth areas, and the pipes that are already in place. Big beneficiaries, what if you look at if you look at global coal usage out outside of western countries? It's massive really. Oh, yeah. Yeah. I mean Asia, including India. They use more coal than other western countries by factor like three or four. Yes. And you can't breathe there. Right. You're going to need energy and your need something. That's clean-burning. Okay. Makes sense to me. It'd be natural gas. That's it's good. And that's one reason. The year to date performances on the master limited partnership index eighteen percent versus eleven for the Dow eighteen and a half versus eleven and a half for the Dow so that bounce back was there and last year when everybody was saying global slowdown recession run for the hills. We'll run in circles scream at shout. Well, I talked to lots of quiet said, December because it was the many panic. And I said, now, I'm just bind global high yield and energy for structure because it get paid to wait, if I'm wrong, and I get a seven percent dividend. That's thirty five percent over five years. I was talking to a big energy manager this week. And one of the things he said is, you know. In the past few years, you go to these conferences, rather, companies there. And you have managers and hedge fund managers beaten up on these companies go into catch your dividend path debt, do this, and that in the most recent round of those type of conferences, the mood has changed dramatically. Why? Because these companies have done the necessary. They've, they're making the necessary changes. And, and so you're not seeing that same kind of same count of dynamic between managers and companies companies, have really denigrate Java streamlining paying down debt and growing through STAN just regular Catholic. So those are all good signs for the companies and for the industry, I think and elegies summer begins three point four percent rise in imports seen in may. It says buyers in the Middle East, which surprises me and Latin America Kuwait increases imports of liquid natural gas. It's probably cheaper to import it to the Middle East, and then they can ship it to China. That it is just to send their own. Okay. There's still lots of mysteries forced to solve on net worth radio. We don't have all the answers, and don't forget. There is value at risk of loss, and everything. Almost everything except a t Bill or right? So just saying. And if you don't, if you don't like fluctuation, vanguard money markets, paying two point four percent. That's where we put our trading reserves, which we will raise hopefully at the next high point and redeploy at the low points with dividend. Reinvestment, okay? Shells going to invest two billion a year in Brazil, I'm not sure why. Okay, just just saying I don't get it. And Saudi oil tankers attacked amid rising tensions in the Gulf. Okay. Iran is mentioned in the story and Chenier. And to lure Ian. C U, S China trade spat has short term. Okay. That just just say they see they're not worried about it as I understand that. Okay. Next. I think we want to move to the prophet report. Right. Okay. And so, in the prophet report, is it okay to start with the salacious metaphors and then you can guide it from there. Let's go, okay. I really like Jon Moulton. He has one of the best weekly newsletters that I've seen very thoughtful conference. He had a conference here in Dallas. Okay. He's friend of the program. He was the one that used the salacious metaphor. This this, this makes me laugh because financial guys use these things because finance is boring. Right. We're guilty to Japan is a bug looking for a windshield. Okay. One. That's what he said. But Japan just continued to grow modestly. Okay. And then there's, there's some other salacious metaphors. Okay. Get ready for this one. This is a la- tote not a snowball's chance in held there isn't a bubble out there. That's a lot of double negatives to. Well, it's at least a la- tote. I try to make up their a doubt Aero's as I go through a sentence like that. There is not a K down a snowball's chance in hell. That sounds bad that there isn't. Okay. Double negative, so that you make it a break even of bubble out there. So, but there's not as somewhere. There's a debt bubble is different. This time, it's not about the banks or households. He said corporate debt. Well, I I'm not seeing it when I do the research. But hey, it's good to have warnings. Now here was the most salacious prediction. Okay. What a cover. What's wrong with it? Its value at risk of loss. It says. US treasuries in his view this different speaker or the place to be if the fed lowers rates to one percent. Thirty years zero coupon. Treasuries will return thirty five percent. But. There's no short rates in the log rates. Don't have to move together. That's a fifty percent reduction. Which you would think I mean that's a big move. Well. But what I'm also say it is, what if the long rates go up with the short rates go down because everybody's worried about inflation, because a short rates went down that could happen. And then if you're stuck in a thirty year treasury whose yield today, two point eight two percent your duration risk is thirty years. So thirty times of one percent, spike in rates to three point eight percent and boom. You just lost thirty percent. That's more likely to say cut down to one to ration- risk matters. That's the. Yeah. Because that's a massive stimulus economic stimulus. Right. Yes. So I think there would be fears of inflation and the long rates don't have to stay low just because the short rates went down. There's that's, that's one dissecting that, okay? No. I agree with that. Okay. And so I'm on your side. Okay. So that was the salacious metaphor conference and Khuda. Oh, oh here he goes, here's what more he bit. He barked, and then he whimpered. Lipstick won't work. So we got pigs dogs. I don't know what he's trying to say anyway. He was referring at any referred to the Chinese New Year of the dog. And I, I can't I can't draw investment recommendation with that. We'll be right back for today's grab fidelity on network radio. Pretty. Gotcha. By this suspension. Mcgowan for years. I've used a medical breakthrough that originated right here in North Texas..
"paul krugman" Discussed on 760 KFMB Radio
"Got those words back in the call out research. Crazy Democrats when when you start when you start asking stupid questions like, well, they didn't start asking stupid questions like that recently. But when they do it on a regular basis is mayor Buddha. Judge gay enough that came from the left that came from the left, and the whole was what's what what should we be looking at should his gayness supersede has white maleness with his white male in his takedown where you know, take down or or or of dominate his gayness. Or with the gayness dominate over the white male or were the male and the white guy. I mean, it got to the point of just being bazaar. But that was the discussion going on. That's why they get the definition of the one of the reasons you get the definition of crazy democrat asking the question. How black will the Royal baby be to even be focused on that? Again. What shows you're crazy liberal, by the way to see Paul Krugman, economists, I'm old enough to remember when the presidential medals our freedom were given for showing courage and making sacrifices on behalf of the nation in the world Tiger Woods hits golf balls for money racist. Yeah. All Krugman racist. He had to be reminded the of all the athletes. He just got killed right? I just got destroyed on social media, and he wants to criticize any of the other athletes. No tiger was so Hemi. Throats and somebody reminded him yet. But remember the Nobel prize used to be worth something to no joke that was the best. Well, they pre priced that to the then new President Obama remembers while remember for things that they thought he was going to remember criven got it for the Nobel prize for economics. Oh, yes. Yes. That's why more directly. Yes. That's why that's why they hit in more relevant to the actual discussion. What did he? Okay. So as a noble prize winner, did he criticized the former president when that happened? That he got it for something. He hadn't done you. We'll have to go back and check to find out eight six six ninety redeye. Tips from JJ Keller into societas Inc. On inspections a driver's role in an inspection. Can mean the difference between positive or negative experience well trained drivers who behave professionally? No that goes a long way toward achieving successful inspection.
"paul krugman" Discussed on 710 WOR
"TV host how come for the other panelists. They didn't say and liberal commentator like when they have Paul Krugman onto they say liberal economist, Paul Krugman. I think that's taken for granted. Right. Larry cudlow conservative economist, Larry cudlow, why is that how come they never say? Know, they say the conservative FOX network, you're hearing a liberal CNN you ever watch his Brian Stelter? Yeah, I don't like him. What a worm this guy? He was on TV the other day talking about how you can't believe Fox News because they are on a side. They're on one side of the aisle. So you can't believe really, okay. He's not. But I don't know. What do you think? Do you think that they're so delusional at CNN that they believe there's somehow in the middle? I'm sure they do they really do. I don't know. Maybe you look at that Chris Cuomo or those no nutty really get some real nut jobs. Don lemon. I guess they think they're really are right down the middle. You just go from what I hear I repeat this again from yesterday people tell me Lester Holt is not as fake news as he looks that. He's just a hostage there. And he needs to keep the job sound like anybody else wants him to anchor an evening newscast. So he just plays along. He just says what he's told. But that is one of the most slanted newscasts ever get to the news in the first ten minutes. It's like bashed Trump for ten minutes. Then maybe we'll get to some news. That's good for ratings. Right. No. They're getting killed in the ratings ratings are low. They're getting killed now by ABC, David Muir. He's the number one guy. CBS forget it. They're not even competitive, but David Muir, number one and also reported a couple weeks ago NBC getting beaten, but they're fudging the ratings deliberately. Yeah. So they're pulling little ratings tricks to look not so bad. So the president's responded DNC said FOX will not be allowed to do any of the democratic debates the president responding that. Maybe he'll ban other networks any fake news network will not be allowed to do the presidential debates viewpoint. So no, I agree. Obviously. Then DNC not thinking ahead. Now, they've set the precedent. So the president can refuse to CNN debate an MSNBC debate an ABC news debate, a CBS news debate, an NBC news debate. So I think Bravo will have the presidential. Where where where are you going to go who what network is objective that you could do it on obviously granted to FOX if the democratic candidate for president would you refuse to show for the debate? Because it's on FOX. What are they afraid of what the questions from FOX aren't going to be any more difficult? Yeah. And also when FOX does the debate they don't put conservatives. Who it's usually Bret Baier could argue he's a little conservative. But he's pretty Chris Wallace liberal. He's a democratic liberal. Megan Kelly is a liberal Democrat. Hey in the first FOX debate last time around, and that's where Megan Kelly destroyed her career. Nobody was tougher on Trump with the question than Megan Kelly. So I don't know what they're afraid of the debate would be Chris Wallace or Shepard Smith is the most liberal he makes ACO look conservative Shepard Smith. So I I don't know what they're afraid of. It was just a stupid move by the DNC. Speaking of Cossio, a crazy. Oh cortez. What is her name Alexandria Cossio corteges Cortes? She is really defending this anti-semites Ilan, Omar and the Democrats have a huge problem. Now, they're the bigoted party there antisemitic. They got to do something about on, Omar. They should remember the Republicans had a guy a few months ago. Was it king? This is white supremacy. The yeah, I mean, they immediately removed him from a committee denounced him, here's the salon Oma with real antisemitic comments, and they're defending her they tried to pass some kind of resolution. They couldn't do what they were arguing about the language. They don't want to attack her. So they're defending this anti Semite and a Cossio Cortez who they're all afraid of is right by her side. So we've got to defend her freedom of speech, prima speeches. Okay. But and it's one thing if you're anti Israel, you could argue that simply a foreign policy position. But when you start to discuss it, you say those Jews with their money dues with their money. You're an anti Semite a real anti Semite. And you gotta go and the Democrats are covering for her Cossio Cortez is defending her. It's amazing. How much power has? Yeah. She's really is influential really afraid to her now, the salon, Omar, you might argue it's a foreign policy position. It's okay to be anti Israel. But there's twenty three countries in the Mideast wise is the only one she has a problem with you could argue, well, it's a human rights thing. She keeps talking about human rights in Israel is twenty three countries in the Middle East. You think those air countries are great on human rights for sure? That really good on human rights, Israel is probably the least offensive country. So I don't know what they're gonna do about this. There's a revolt now in the Democratic Party these, and I told you this AFC is there to drain the swamp and they're starting to figure it out Pelosi Schumer. They're all realizing now that these people want them gone. That's the swamp. They wanna drain so it'd be interesting to see if she gets around this campaign contribution controversy. Yeah. This is some kind of money laundering hiding money in her campaign by the she's financed by some billionaires behind her. So that's the other thing with these Democrats are denouncing the billionaire standing up to them. Meantime there to their secretly working with this Elizabeth Warren with this Joe Biden, the fridge abidance starting to raise he's not officially running raising money, but he's making calls to check into how much money you could raise who's he calling billionaires hedge fund guys, Wall Street, Goldman Sachs. So what a bunch of clowns. These people are in Connecticut. The fight began yesterday does is a tri-state problem. So when you hear about in Connecticut, they're gonna toll all the roads. Everything don't say to yourself, man. I'm not going to Connecticut. What do I care? It's going to happen in New Jersey. It's going to happen in Westchester. It'll start happening everywhere. They're all they know they can't raise your property tax anymore. They figured that out. They know they can't raise your state tax anymore. So the gun attacks you to death on everything else? You always already paying a fortune in gasoline tax. You know, what three dollars a gallon two dollars of that is taxes more than two dollars tax. Now, they're going to tax you to drive around. So this awful, new governor of Connecticut. Lamont beheld the first hearing people were screaming at him. And he kept saying we need the money, you need the money, and they were one woman screaming, and we don't trust you with our money. We don't trust you. They overspend like crazy. If you give somebody a couple trillion dollars, which we have these politicians and they wasted ninety eight percent of it. Would you give them more money? No, we need to build eight or need more money. We need bridges and roads keep it to overpaid by eighteen thousand percent for the last bridge overpaid by twelve thousand percent for the last road. Why would we give you more money? So listen to Lamont over the last thirty years, we really haven't added any net new jobs and shame on us. What that has cost us as a state what that means the germs of revenues. What that means in terms of our budget. What that means in terms of opportunity, and that's going to change doesn't he sound like a slime ball sound horrible likes. You know, raising revenues for whatever noble purpose it is. But this is the best investment. This state can make. It's forty thousand mile to pave a highway they'll spend a million a mile. That's what we spend in New York actually connects a little better, they spend about eight hundred thousand mile even though only forty thousand and they'll tell you it's going to create jobs this infrastructure stuff. Right. And it does create jobs if you happen to drive a esteem roller or a crane it's going to create a job for you. And even if you just put the shovel working on the highway creates a job an eighty thousand dollar job for which still pay six hundred thousand dollars. Creates a a job like that. So I don't know. It's going to be everywhere. This Murphy your governor in New Jersey. He's he's drooling over these tolls. That's a big deal. There wasn't a fare increase this year. I have to remind folks in the last administration fares were up thirty six percent. Well, he's not gonna raise fares on New Jersey transit. Again, you're overpaying by ten thousand percent and every infrastructure project stop that he got enough money to rebuild everything twelve times over stop wasting all our money. That's another problem with President Trump. He's the one guy who could fix this because he knows construction costs, and he's a little afraid to this is like a third rail. You don't wanna step on you? Remember when he first got in office. He was going to put together a commission, and he brought in some of the top building construction guys that he knows is in the form this commission. They would start looking at the bills and see how everybody was overpaying. Oh, that'd be nice. But everybody quit the commission everybody because a lot of them were big real estate. Everybody's got their hand in the pot, right? Everybody's getting a little bit. Now, they don't have their intimate. But these are guys that building New York all the time. But they realize if they start screwing up the business model of these unions and contractors, they won't be able to get anybody to build anything for them anymore. They just can't afford to make enemies like that. It's outrageous the cost of construction. It's ridiculous. What do you see this new Hudson yards? Dozens of skyscrapers, it's an entire city. Twenty six billion. Go look go look at the new terminal at LaGuardia. It's a piece of crap a little square building twenty billion. I'm sure it was complicated complicated. You really think? Hey that new tappan Zee bridge is beautiful. It really is. But it wasn't really ten billion. It was like an eight hundred million dollar project. So we gotta stop this. And then you got New York City city council now fighting to get control of the subways, we should run it. You went to Blasio running your subway. You see the city council guys. You want them running the subway. What it is is they want to take over this lucrative handout these jobs business because you can make a lot of money a lot of donations coming governor Cuomo said we can have the subway in New York City took it over. Day take it over. They don't get the ten billion in state funding. But he did say there's something in the contract that we give them years notice and take the subway back. Really? Yeah. But the ten billion in funding goes to pay for five hundred thousand dollars worth of stuff. It's five hundred million to build a mile of subway track. Cuomo and the second avenue subway spent three billion a mile. Again, must have been a complicated project. Stop wasting all the money R Kelly. Why was he he was arrested yesterday? He didn't pay child support on who he's got so many children go he does have a lot. But I guess the one hundred sixty thousand and he couldn't come up with it. Really, what do you think that means? To lawyers everything he was on with Gayle king. Of course in that interview. Where he, you know, the idea was to look in the camera. Explain yourself apologize..
"paul krugman" Discussed on KOA 850 AM
"And I have a store Dave of we talked about Paul Krugman on this show at all. I. I hate Paul Krugman. And I don't normally say that about a columnist or someone I disagree with like, I happen to think E J Dion at the Washington Post is an idiot. But I don't hate him. I hate Paul Krugman because he's so wrong. All the time people point out that he's wrong all the time. He never admits that he's wrong all the time and stupid people quote, Paul Krugman. If I see somebody trying to make it argument, and they use Paul Krugman as I will literally say if you cannot come up with a different economists to support your opinion. I know you're not very smart. Because Paul Krugman is a moron. And today's Paul Krugman story is part of a bigger arc. That's playing itself out right now. Paul Krugman tweeted out a photo of the angry, white nationalists from Charlottesville and under. It says this under his this is his tweet, Paul Krugman. There are three things in life that are certain death taxes, unless you're Donald Trump and persistence of anti-semitism, but only one brand of they anti-semitism scares me. And it's not on the left. Okay. So is he saying that as long as you vote democrat? You can hit us too. Because it kind of looks like that's what he's saying. You know, Paul Crocker heat this guy. I I have I have physical hatred for him because he's one of those people I have the same feeling for him that I have for Alex Jones Laird even hate Alex Jones because just dismiss Alex Jones, Paul Krugman is to the left in his own way. What Alex Jones is to the right? Remember on election night is the one the day after they said, well, the economy's going to crash it's going to crash, and it's never going to recover with the Trump presidency. Visit night they're only the stock market went up the next day. I mean, yes, Dave the Nobel prize in economics. Even I can't even don't even remind me of that. Of course, he shares Nobel prize for rock Obama. Stop it soft at right now, the Nobel isn't what it used to be as well. They know I would have to say the Nobel has tarnished their own image through the years giving. Awards to this nincompoop. I mean, I already know I'm not one of those people that advocates like you should be fired. This guy should be fired from every job. He's ever had like people should call them and say, hey, I know you worked at a grocery store back in nineteen sixty five you're fired. That's what should happen right now. He should not be in. Then he and then he should have have to walk around with electrical tape over his mouth. So he can't talk 'cause he's just an, and I actually know people that I think are intelligent that read him in the New York Times. And they think oh, this guy has some credibility because the New York Times wouldn't put an idiot and their yes. Yes. They would. Golly. Hate this guy. And now, we know as long as you're democrat. You can hate him for being Jewish. That's fine. No big deal that and that's like soft anti-semitism that's the soft hatred of Jews that soft kinds find the kind where they smile to your face. And then while you turn around they stab you in the back. That's the good kind. Right. According to Paul Krugman 'cause. Increasingly that is the problem. The Democratic Party is having any of the accounts that I've been reading in the hill dot com, and politico and all these other political websites over the past thirty six hours. Nancy Pelosi is now having to apologize for wanting to put forth an amendment which condemns anti-semitism, but it gets better. It gets better people. There is a column that I linked to today in hot air that pointed something out to me that I did not even I I simply could not figure out. This particular thing. Representative Ilhan Omar the woman who is an anti Semite from way back. This is not new her unfortunate comments about Israel and Jews overall. No, she's been doing this for a long time. She's forty years old. She's not a child. So when I hear Democrats say she really should learn from her own mistakes. She's forty flipping years old. She knows exactly what she's doing. There's no doubt my mind, just like Rashida to leap, she knew exactly that she was calling Representative Mark meadows racist. She knew she was. And when she got called on it all of a sudden, it's like, oh my gosh. That's so I did not mean that at all. Yes. Dave world Nancy Pelosi this morning in front of reporters said I'm sure she didn't realize what she was saying feathers antisemitic, but others reacted to it has to be more sensitive. Shut up Nancy. This woman has a documented history of anti-semitism. She has this is her jam. And now, this is the best part Dave is gonna make your head exploded you ready now the presidential candidates for president are framing her as the victim. Oh, yeah. This from hot air, but a few dams most notably Kamala Harris have taken the extra step of trying to present Omar herself as the wronged party. She said, oh, excuse me receipt, at Toledo who I just mentioned hard to watch Representative Scalise demand that Representative Omar be removed from house foreign affairs without wondering if it steeped in Islamic phobia. Oh, yeah. Oh, yeah. Yeah. So now, she's the victim. Dave. It's just Islamaphobia that people are calling you're out on her anti-semitism. It's just because they hate Muslims. A first of all they wanted to do an anti semitism resolution. Okay, fine. But there was pushback from now can't do that have to have anti Muslim in there as well. Yes. Anti everyone, which means the thing is meaningless exactly right now. It's meaning jeans absolutely nothing. And also, it doesn't mention her by name. Now. Now, would we have this resolution had she not made anti semitic remarks? I don't think so. So let's call it. The Omar resolution. We should. But we won't. No, we won't Brad. Stevens wrote in the New York Times, a very interesting paragraph as the criticism of Omar mounts. It becomes that much easier. For her to seem like the victim of a smear campaign rather than the instigator of a smear. The secret of anti-semitism has always rested in part on creating the perception that the anti-semite is in fact, the victim of Jews and their allies just which powers that be are orchestrating that campaign. Why are they afraid of open debate? And what about all the bigotry on their side? The fact that we are still having conversations about anti-semitism in the United States of America. We are not that far away from World War Two. We are not that far away from a very recent example of absolute attempted genocide against the Jewish people. And yet this is where we are today. The Democratic Party is fighting about an anti anti-semite or anti-semitism resolution. They're fighting about it. This should have been a no brainer. This should have been the ship sailed through the house with no problem at all. But their caucus has anti-semites in it. That's the only conclusion I can I can bring I mean, how could you come to any other conclusion? Really? It's my blowing. And this is our major political party the democ. Could you imagine let me give you a flip side of this? Can you imagine if House Republicans went to put forth, a proclamation condemning white nationalism and a handful of Republican freshmen members of the house pushed back and said, well, we can't just make it about white nationalism because that's not fair. Could you imagine what the headlines would be? This is exactly the same. This shoe is on the other foot. This should be an embarrassment. This should be a horror show and Democrats should be really ashamed that this is happening in their party that these people are in their party, just like if David Duke was in congress right now, I as a Republican would be mortified. Every republican. I know has absolutely rejected everything white nationalist across the board. And yet when you talk about anything when you talk about defending our borders. Well, it's obviously, you're white nationalist racist. No, no. But are all Democrats smeared his anti-semites? Of course, not because it's ridiculous thinking people know not to do that. But it never goes that way for people on the right? Yes. Stayed the intrepid it shouldn't. We shouldn't have even had a resolution. She should've been censured kicked off the foreign whatever committee. She's on. And call it a day. And that's it. We didn't need to have all this angst. Yeah. Exactly. Breath. They won't take care of business in their own house. So David I we're talking about this yesterday. The reason why is she's the first Muslim woman elected to congress. They're not gonna come down on that. She checks too many victim boxes. Dave. It's embarrassing. But when you live and die by identity politics. That's what you get seriously. Hey, Rick, you're on KOA NewsRadio. Rick. As my wait. Did I okay? Granted. You put them on hold. What's happening? Can you get him? Oh, hey, Rick. There you go. Yeah. I called because there's a guy wrote a long time ago east is east west is west, and they're the twain shall meet. That's the starting line. That was about eastern culture versus western civilization. We've got western civilization for two or three thousand years Judeo Christian and we've got invaders. From eastern cultures particularly from the Moslem culture that don't belong in this country. And that's too good examples of the Falmouth Muslim from Michigan. And this illion, Omar. Good examples of don't need them. Get them out of there. Go get him off their committees. They are they come from a stated policy of conquering the infidels that's the western civilization. Well, I I don't disagree that there are Muslims who have no desire to adopt an embrace that American way of life, and I'm kind of with you, and that they don't have any place here. But you know, I also want to be clear that for me. I welcome everybody. If they want to adopt the American dream, and they wanna move the American dream, and they don't expect to have me her tail my activities to make them happy. We're all good. I understand that. 'cause I have friends that came here from the Middle East from Arab countries. And I've been there two different times. And I know some in that part of the world and they're not. Indoctrinated by the Muslim Brotherhood to kill all the infidels and take over the world. But there are some and we've got two of them in congress right now don't belong because they don't have any western civilization or western ideology. History. Ed, I ju- anti Christian because I wouldn't western civilization. I would agree with you. Rick. We'll continue this conversation. Well, yeah, it helps if people would look at the depth of four. Rudyard Kipling was Cohen from one wrote that he was born in India raised in turmoil between the Muslims and the Hindus the majority of of India. Yeah, rick. I appreciate that. But I gotta make room for the news. So Susan Witkin what is coming up right now in your newscast. We've got congressman Ken buck coming up next. Oh, terrific. Avalanches and avalanche. Mitigation portions of I seventy now open, but some still close I've got the very latest for you at one thirty on KOA, NewsRadio eight fifty AM and ninety four one FM.
"paul krugman" Discussed on 790 KABC
"Don't you dare stop me because on this show? We boldly go where no financial show has gone before. And therefore at about ten til we will have our estate tip of the week. And this week we're going to talk about the power of attorney documents that you may want to have. Okay. So in the event of your incapacity in the event of your health changing, those kinds of things these are documents that I think just about every body listening to this show should have. Okay. So we'll talk about that at about ten till? So we have a lot of talk to talk about this week. But before we go anywhere. I just have to tell you that Valentine's Day was actually my thirty sixth Valentine with my beautiful beloved and very smart smarter than me. Why fake? Yes. And we met in one thousand nine hundred eighty two and we got married thirty three years ago. So. Interesting. Longer than I I remember when being thirty three thirty three years old was old let alone being married for thirty three years and soon to be thirty four she loves pink roses. So she's an easy. It's easy to make her happy on Valentine's Day. I just get her a big giant bouquet of pink roses and she's happy as as punch so anyway. Let's talk about this article that I saw and I agree with it. So that's why I'm going to read it to you. You know, it's like, I'm in an echo chamber. Anybody who agrees with me? I agree with them. It's an interesting dynamic that goes on there, but Nobel laureate, Paul Krugman. This is an article from Bloomberg said the US economy, maybe heading into a recession at a time when the Federal Reserve does not have the firepower to properly combat a slump. Okay. To quote, there seems to be an accumulation of smaller problems and the underlying backdrop is that we have no good policy response. He said in a TV interview the headwinds facing the economy prompted the Federal Reserve this month to halt its interest rate hiking cycle, which Krugman said was never grounded in the data to begin with and to continue to contain continuing to raise rates was really looking like a really bad idea. And you know, what I agree with that? And and you know, the Federal Reserve decided we saw way Powell. Came out and said, you know, we're going to essentially not raise interest rates at the same pace. He did an about-face on that. And the market the stock market the S and P that very well. And went up a lot of points on that news. But think about the message that they said that they were giving. Okay, we're not gonna be raising interest rates as aggressively as we planned on. Now, why on earth would they do that? Because things aren't as good as they thought they were going to be. That's why you have to look at the not what they say. But why they said it, and if if they're saying it because they think that we are not doing as well as we as an -ticipant it. That's not a good thing. And so right now, if you are in equities, if you're in the stock market, if you're invested in stocks, I would be very very. Anxious. If I were you, okay. I would be looking at that with great trepidation. And I would start thinking about what plan. Do I have if things turned south? I'll give you another statistics. I think that what's going to cause the big bear market is all the debt. We have around the world. And two very large Chinese borrowers missed their bond payments. Okay. Mr. bond payments. These are massive this is the Chinese market is the is an eleven trillion dollar market. And if China ends up this company called China Minsheng ends up defaulting it may rank alongside win time. Energy is one of China's biggest failures with two hundred and thirty two billion Yuan in debt that's thirty four billion US as of June thirtieth. So these are massive defaults that could be happening here they missed their bond payments. Okay. And so if they don't restructure their debt and all that they could actually default on their debt. And if that happens, you know, you may recall what happened with Lehman when they were going to default on their debt. And how that started a whole domino effect that brought down almost the entire bond market and certainly brought down the stock market. The s&p was down fifty seven percent and all that in two thousand eight. So I think debt is the big problem. We have right now and a scene statistics that tell us that the global debt, right? Now is two hundred thirty three trillion trillion dollars that number is so big I can't even fathom it. But just to put it in perspective. The the subprime mortgage crisis was three trillion dollars. That's how big Dow one was when it was all said and done we now have two hundred and thirty three trillion globally of debt. This is the response to the two thousand eight credit crisis was to take on more debt. How you get out of debt? You borrow more money to pay off the debt that you had originally. That's what we did. And the number has escalated and is still going up and up. I think the risk right now is the biggest I have ever seen it. And and you know, we told people to sell in November of two thousand seven get out before the two thousand eight market crisis. And we right now our counseling our clients at the risk is so great you should be on the sidelines. Now, we look at trends. So I just want to be sure you understand. We look at trends. So if the trend is our friend, then we may go back in and participate in the Trent. There are trends within big bear markets. Okay. So if. Listen to this show. And I tell you we're going to be going back in it's not I've reversed my opinion is just that the trend is favorable right now within a bigger picture of a bear market. Okay. So stay tuned on that. But if you are over fifty if you are retired or retiring soon, I would encourage you to go to our website. It's moneymatters dot net. Moneymatters dot net. And we have seminars near you. You can sign up for a seminar. They are designed for those of you that are over fifty who are retired or retiring soon. I know there's a lot of you out there. So that's you then go to the summer, I December. We will talk about our by hold that protect strategy the one that we employed to tell people to get out in in in in late two thousand seven we'll also talk about wind. Should you? Take your social security benefits. We have a whole bunch of information on that that hopefully, you'll you'll learn from we also talk about should you roll over your 4._0._1._K, we have five strategies to reduce your income taxes. So we have a lot of information there that I think would benefit you if you are in the mode of retired or retiring soon, if you're one of those people, then moneymatters dot net is our website money matters dot net, and you can sign up for the seminar on our site. All right. We're gonna take a break..
"paul krugman" Discussed on 790 KABC
"Show. So Paul Krugman is the idiotic columnist for the New York Times. He's good when it comes to trade policy and dumb when it comes to everything else. And Paul Krugman has a column out today about how the real threat to America comes from the radical centrists, he says in general centrists are furiously opposed to any proposal that would ease the lives of ordinary Americans. Universal health coverage said Schultz would be free healthcare for all which the country cannot afford. And he's not alone in saying things like that a few days ago. Michael Bloomberg declared that extending Medicare to everyone as Kamala Harris suggests what bankrupt bankrupt us for a very long time. Now single payer healthcare actually called Medicare hasn't bankrupted Canada. In fact, every advanced country. Besides America has some form of universal health coverage and manages to afford it. First of all America does have a basic form of universal health coverage. It is basically, Medicaid it is, Medicaid and emergency room for care. Right. So the the idea that people are dying on the streets in America is simply a left lie. It is also true in the vast majority of spending. On healthcare in the United States is done in the private sector by people who voluntarily pay in the private sector. The United States spends something on the order of sixty. I believe it was sixty trillion dollars. So I'll have to look this up. Sorry. It'd be sixty trillion dollars over the next decade that America could be expected to spend on healthcare. We have obviously not sixty trillion near sixty trillion over the next decade that we could be expanded. I expected spend on health care about twenty eight trillion dollars of that was expected to be public about thirty two trillion was expected to be private. So that means that a lot of spending. That's being done is voluntary spending. My people who are freely alienating their money in return for quicker healthcare, but according to Paul Krugman. It is not radical at all says, hey, you're completely abolished one fourth of the American industry. So radical centrists are the real problem? He says, where's the fanaticism of the centrist come from sheer? Vanity both pundits and plutocrats like to imagine themselves as superior beings standing above the political fray. Does Paul Krugman own a mirror somebody we needed government programs by Paul Krugman and mirror, if we tax everybody wants that we can buy him a magnificent mirror. It wants to think of themselves as standing tall six against extremism, right and left at the reality of American politics is asymmetric polarization extremism on the right is a powerful political force well extremism on the left isn't the answer. For centrist is retreating into a fantasy world almost as hermetic as the right wing. Fox News bubble in this fantasy World Social Democrats like Harris award are portrayed is the second coming of travelers so that taking what is actually a conservative position can be represented as a brave of moderations. Now Howard Schultz is out now conservative so in order to defend the extremism of their own cause Howard Schultz becomes a conservative and Ilhan Omar becomes a moderate pretty amazing stuff. But this is how the media generally have treated the extremism of the Democrats. So what's hilarious over the last week? Is that we've seen in the last week Kamala Harris embrace Medicare for all abolishing private health insurance? And then run screaming from it. We've seen Democrats embraced murder of the unborn up two point of birth including dilation, according to Kathy TRAN the state Senator in Virginia the state delegate Virginia. We've seen Democrats embraced tax rates. That would make Hugo Chavez extraordinarily happy ninety percents on the top one percent. That's pretty solid tax rate right there from Ilhan, Omar and company, and yet the way that the media have covered these things is always Republicans pounds. It's an amazing thing. I've never seen. I really have never seen a bevy of headlines. Whatever Republicans make a mistake. It's never Democrats pounds as Republicans as Republicans real it's ever Democrats. But Republicans pounce has become such a mean that people on the right know that as soon as Democrats do something bad. There will be a bevy of articles about Republicans pouncing. So here is an actual headline from the Washington Post. I kid you not is it reading it straight. I'm not making it up, quote, Republicans seize on liberal positions to paint Democrats as radical do you mean, we quote them like we play clips of them like on the show, and then we say the radical 'cause they're like, you know, radical by Matt visor Senator. Harris is raising the possibility of eliminating private health insurance. Senator Elizabeth Warren and other prominent Democrats are floating new and far-reaching plans to tax the wealthy in Virginia. Governor Ralph northern voiced support for state legislation that would reduce restrictions on late term abortions. Democrats after two years largely spent simply opposing everything. President Trump advocated are defining themselves lately in ways Republicans are seizing on to portray them as far outside the American mainstream. Well, those Republicans dastardly Republicans suggesting that these positions are outside the mainstream. What if there were some pull data? Well, maybe the people that companies that did polls about these issues, and then we could actually determine whether these were extreme positions, for example. Oh, wait. There are when people are told that Medicare for all would raise their taxes only twenty six percents of Americans support that when Americans are asked about whether they would ban all semiautomatic weapons as combo Harris adjusted only forty percents of Americans back that when Mexicans are asked. Whether they support the ability to abort a baby at dilation eighty one percents of Americans oppose. Yes, these numbers are available. But no, it's Republicans pouncing. It's all about the pouncing Republicans are like the Bob Catherine just going on you. That's the thing. I love it. That's not the only one New York Times doing exactly the same thing. Trump peds Lee GOP seizure of late term abortion as a potent twenty twenty issue. They seized it the GOP seized it. Okay. You know, what's a way that the Republicans couldn't have actually seized on the issue is if Democrats hadn't tried to pass bills in Vermont, Virginia and New York and Rhode Island in the last week trying to say late term abortion. Wasn't affirmative good. Then there wouldn't have been any like, let's say the Republicans tried to seize on democratic support for murdering all people above the age of eighty. It'd be hard for them to seize on that because Democrats haven't actually made that proposal it'd be hard to seize on it. But whatever the this is the Andrew claybin rule of the media. Whenever a democrat screw something up. The story is the Republican reaction, whatever. Republicans screw something up. The story is the Republican screwing something up, but don't worry that. There is no bias in the media Virginia. Don't worry. Nobody's in the media whatsoever. They are just even-handed truth tellers seeking to be firefighters bringing you the realities of life. By the way, it is worth noting here that for all of the talk from people like Paul Krugman and folks in the democratic mainstream about the realism of their proposals taking crises like climate change super seriously, and all of this as soon as you dig beneath the surface, you realize that even they're more mainstream positions are actually pretty radical and pretty dumb. I'll explain Justice second when it comes to climate change first..
"paul krugman" Discussed on FT Alphachat
"And so when you actually reduce public debt, you're not going to get the Keynesian effect, which is decreasing. Manned the recession, but you're going to get people so happy that you dealing with a bomb that they're going to spend more is what Paul Krugman calls the confidence ferry. Yeah. It has been invented values times in the history. Sometimes when a government which was completely misbehaving starts behaving, then the confidence effect can really be there and the interest rate that investors asking just drop so much that the direct effect of spending is of set by the fact that interest rates have decreased we can happen. I don't think it should be excluded. But he can happen. But it had become it was so attractive to the people would actually dead that he'd became none the bible, but at least a general view. And so of a notion was well, these countries have to do, you know, if it had gone up a whole lot to import crisis for good reasons. But the question was how fast to reduce them into people wanted to reduce them fast. Use the dog imminent, and therefore we sled to using small multiplies to use the technical term, which is small effects so small negative effects of contractions spending. The reality was conference effect was just not there. And so we affect of reduction spending of increase in taxes was much larger than had been assumed at the IMF, and you know, in the euro-zone, so that's for fiscal in general. How has the crisis affected the way? I think about modeling this is kind of a a larger question, you know. I wrote a lot about modeling even before requires his economics is subject to fads and fashions in macro, the fad the fashion has been the development D as GE's which have machines which are supposed to have microphone Dacians in and therefore be more robust and more useful than ad hoc malls, which do not try to get to the basic decisions. Just assume that people behave in those societies need to jump in. Here. This dynamic to cast a general equilibrium model we will not let's not going to help anymore. But to explain how it works. But it's important to say that this was the workhorse model of of making predictions about the future that was used at economic institutions all over the world and still is no it's actually not right. This is the malls, which dominated the cadet mic sphere in the journals institutions, which actually had to think about policy, really, you know, understood the limits of DA's GM also the fed hesitancy as g mold I can tell you that the decisions of the fed are not on tally based on the as malls. The IMF has a the whole suite of D as GMO's but used in the right way, which is well, let's look at what the simulations do. But let's also use commonsense v issue with these malls. I mean that you would want to start for micro foundations is clearly it self highly desirable. Why on you say microphone nations, you're talking about just understanding human behavior before you build a big model of the? Economy. It's full Malaya's ING human behavior as opposed to understanding it, which is an issue. We can come back to..
The Probability Of A US Recession
"Other issues out there that that are causing concern sometimes legitimately Brexit Italy. Roberto the global versa, QE potential trade skirmishes and wars that affect conference stuff like that. So there will be another recession. It doesn't mean it has to be early in two thousand nine hundred and may very well be twenty twenty or twenty twenty one. And and obviously got to be prepared for that. Obviously, you hopefully, the policy makers will when that happened to a a ways of at least damaging to to the economy. Can I ask you again because you know, you? Aknowledge that that a lot of people were angry about the financial crash. A lot of people paint pointed fingers at Wall Street and another people felt that that was not accountability. And they still have not fully recovered from the great recession. So I just wanna play a little bit of a sound bite from an interview I did with Paul Krugman on this issue last month. And then I wanna get your your view of it. It was necessary to rescue the financial system. It's not clear that it was necessary to rescue the bankers and the way it was structured was one that did not we didn't. We certainly didn't prosecute any. And there were certainly people who could have been prosecuted, but we also didn't make sure that the upside of the rescue is going to go to tax.
Gop, President and Congress discussed on This Week with George Stephanopoulos
"Have on it which of america's most prominent economist paul krugman nobel prizewinning economists now a columnist for the new york times distinguished professor at city university of new york and glenn hubbard dean of the columbia business school chair of the council of economic advisers under george w bush we just saw president trump right there he also put up a tweet yesterday saying that tax cuts will increase investment in the american konomi and in us workers leading to higher growth higher wages and more jobs paul krugman your response lots of people all basically all serious studies say not so much there's gonna be maybe a little boost but not very much we had the university of chicago survey forty two economists provole political persuasions only one thought it was going to have a significant effect on economic growth and i've been looking at what are the markets thick which kind inching so we have a chart here if you can short so never mind the stock market right he's going to cut taxes on corporations you'd expect stocks to go up a better judge would be look at the dollar because if this bill does what it they say it's gonna do skads money will pour in corporation will bring money back home invested here all of that should lead to a surge in the dollar in fact the dollar has done nothing the dollar rose when trump was elected because they thought the people thought the infrastructure plan was going to happen then went back down again it's actually lower than it was on election day and what the markets are saying is this is a big nothing burger the markets are saying they don't really expect any significant economic boost from this