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Updated* Paul Krugman says the US should threaten sanctions against China

I didn't know whether to file this one under the "war & peace" category or under "economy", but it'd fit into either one. It's important to watch the movements of our intellectual (and I use that term very loosely) opposition closely simply because they are in control of our government right now.

Paul Krugman writes: "The dire state of the world economy reflects destructive actions on the part of many players. Still, the fact that so many have behaved badly shouldn't stop us from holding individual bad actors to account.

And that's what Senate leaders will be doing this week, as they take up legislation that would threaten sanctions against China and other currency manipulators."

The rest of the article is at the link below.

It only gets worse from there as he calls for more currency devaluation and higher tariffs. If things don't change soon, he'll eventually get his way and the whole nation will be that much poorer.

Got Gold?

http://economictimes.indiatimes.com/news/international-busin...

P.S. If you don't know who Paul Krugman is, this picture pretty much sums him up.

http://picasaweb.google.com/lh/photo/gQaB1_WXw8nbu0VvppQN3A?...

UPDATE: China responds to the proposed legislation:

http://news.yahoo.com/china-us-currency-bill-repercussions-0...

Currency Wars are on!!!



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Smoot-Hawley tariff redux

But should it pass, it should have Krugman's moniker affixed, so he can be remembered for something.

Krugman brought a knife to a gun fight and shouts "NO FAIR!"

And is a clown wearing an @sshat backwards

He believes that only the US should be allowed to export inflation, but forcing the rest of the world to accept your "de facto" role as inflation monopolist ain't what it used to be, ain't what it used to be, ain't what it used to be...

=======
RON PAUL 2012

China will kick our

AdoubleS if we don't watch out. They will end up doing it anyway so why not provoke them now and get it over with.

China to

Krugman, kiss our A$$,you're lucky we let you walk on our streets, we own you.

currency manipulaters like china ?

That's rich. Of course the Fed never manipulates currency.

hey what the hell. Might as

hey what the hell. Might as well move our navy off their coast and have a blockade too.

Of course...

...it's all "to reverse the dire state of the world economy". When Krugman says it like that, who could stand in his way? Besides, if we don't have the naval ships to enforce the blockade, we could further stimulate the nation by printing the money and building them.

Three aircraft carrier battle groups and cruisers shadowing their cargo vessels should be just enough to teach them not to sell us cheap goods that enhance the lives of the poorest in America and continue propping up the dollar on overseas markets. Keynesian logic drives me batty.

I think the reason that Keynesians want closed markets and closed economies is to deal with the "leakage" problem that they won't acknowledge publicly. Keynesian economics works best under totalitarian conditions within isolated economies...and that is the opinion of Keynes himself. This video explains what I mean. What do you think about this question of leakage as a motive for Krugman's ideas?

http://www.youtube.com/watch?v=qa3BiujaI3M&feature=player_em...
http://www.zerohedge.com/article/niall-ferguson-explains-why...

Cuimhnigh orm, a Dhia, le haghaidh maith.

Sure

Force the dollar to de-valuate. That will work.

Sort of like the cartoon character who saws off the branch he is standing on.

The US is exporting inflation to China with its money printing machine. "It's as good as gold".

Krugman thinks that doing trade isolation with currency manipulation will bring the jobs back to Amerika.

Next he will think up some pretext for war.

What makes this even richer

What makes this even richer is the fact that he won his Nobel Prize (that his supporters always use to defend him) for his work on the benefits of international trade. And now he's supporting kindergarten protectionist fallacies. The guy will say whatever he needs to gain and keep readers and to demonize the Republicans.

Krugman is such a joke. I

Krugman is such a joke. I recommend this site

http://krugman-in-wonderland.blogspot.com/

It's a site run by Austrian economist William L. Anderson (who also occasionally writes articles for Lew Rockwell) and he basically destroys all of Krugman's articles.

Also, check out this site if you want to see Krugman debate Austrian economist Robert Murphy.

http://www.thepoint.com/campaigns/campaign-0-1240

Concise statement from blog on tariffs

Krugman uses an interesting set of logical steps to reach this conclusion. (1) The government has tried to "stimulate" the economy, (2) the economy still is in a depression; (3) therefore, China must be at fault.

Krugman is not a economist, he is a politician playing the blame game to manufacture consent for some program The Federal Reserve wants.

Free includes debt-free!

Krugman would make Aristotle proud...

...as an example of how not to correctly reason.

Nice post!

Cuimhnigh orm, a Dhia, le haghaidh maith.

c4rp,

I agree. Bill Anderson does excellent critiques and expose's of Krugman on his blog and so does Murphy (whom Krugman is deathly afraid to debate).

"For having lived long, I have experienced many instances of being obliged, by better information or fuller consideration, to change opinions, even on important subjects, which I once thought right but found to be otherwise." - Benjamin Franklin

Ah, yes!

That's a brilliant idea Paul!

Just allow the very politicians and banksters who are defrauding us and taxing people to death in every conceivable way, both overtly and covertly, to make it more difficult for people to purchase goods and services about as cheaply as it gets right now.

And this genius PAID to be educated and think the way he thinks.....go figure.

Krugman's a fraud and a shill for the cleptocracy!

Edit: Thanks for posting this OP. It's a subject worth discussing IMO.

"For having lived long, I have experienced many instances of being obliged, by better information or fuller consideration, to change opinions, even on important subjects, which I once thought right but found to be otherwise." - Benjamin Franklin

I agree...

We need to not only stay aware of where we stand and attempt to grow our numbers through education and activism, but we need to also be aware of the horrific ideals that our opponents support and how they sell it to the public.

If we don't understand the poison (socialism and Keynesian economics), it's hard to prescribe to the afflicted (the people) the proper cure (freedom).

Cuimhnigh orm, a Dhia, le haghaidh maith.

Haaaaahaaaaa...

U.S. to China = Stop practicing capitalism or else!

China to U.S. = We own you! Now ge tout or we gonna fluck you up roundeye!

I hate him

Seriously, I hate this man. He is by far the worst person on planet earth.

robrigo80,

I'm not sure I'd go as far as you (though I know what you're sayin'. lol!), but he is making a total a** of himself and he's an embarrassment to his profession.

"For having lived long, I have experienced many instances of being obliged, by better information or fuller consideration, to change opinions, even on important subjects, which I once thought right but found to be otherwise." - Benjamin Franklin

Krugman consulted his 8 Ball - "Absolutely"

The man is clueless, if he guesses right it will be dumb luck. But clearly tariffs would cause them to dump a trillion dollars of Treasuries. Hello hyperinflation?

Free includes debt-free!