Tag Archives: Nobel Prize

A COUPLE OF THINGS YOU PROBABLY DIDN’T KNOW

Let the New York Times increase your knowledge, at least on these 3 things.  Ignore my comments.  I never even went to college.

1. Republicans must be as pleased as Punch with Obama’s economic program.  The President is following economic policies Republicans consider ideal and have always dreamed they could put in place.

What should be done about the economy? Republicans claim to have the answer: slash spending and cut taxes. What they hope voters won’t notice is that that’s precisely the policy we’ve been following the past couple of years. Never mind the Democrat in the White House; for all practical purposes, this is already the economic policy of Republican dreams. ~ Paul Krugman

And all the time I thought the Republicans were saying cut the strangling over-regulation, stop stifling oil and coal production, stop passing vague laws for your czars to enforce as they see fit, stop threatening to increase the tax burden when things are already slow and stop attacking success.  In other words, just get out of the way.

2. Obama is slashing spending at a rate not seen since the end of the Korean War.

Look first at total government spending — federal, state and local. Adjusted for population growth and inflation, such spending has recently been falling at a rate not seen since the demobilization that followed the Korean War. ~ Paul Krugman

Mr. Krugman provides this link, Mr. Obama a big spender to a couple of charts that he portends prove his point.  The charts do show a sharp decline in the last 12 months, but the charts are not a picture of spending at all.  They are a convoluted measure of growth rates.  To illustrate – If you spend 100% more this year than last, and then 50% more next year than this, and 30% more on top of that in the third year, then the lines on Krugman’s charts would show a dramatic decline while you were actually spending more and more each year.

3. With Barack Obama as President, U.S. borrowing costs are lower than they ever were before in the history of the country.

Well, U.S. borrowing costs have just hit a record low. ~ Paul Krugman

Wags have often said “You can’t make this stuff up”.  Paul Krugman can.  Perhaps that’s why he won a Nobel Prize.

FAKE ECONOMIST SEES ONLY SHAME IN 911. IT’S KRUGMAN OF COURSE

September 11, 2001 attacks in New York City: V...

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Paul Krugman couldn’t bring himself to say one single decent thing about one single human being in his New York Times column on the tenth anniversary of the World Trade Center tragedy.  Thousands of real heroes, 2.977 victims, every one innocent, a solemn day of remembrance and this Nobel Prize winner cannot put his ideology aside to say one word in honor of the dead.  He uses the day only to vent his anger.  Hate consumes a man’s soul.

Forgive me for my immodesty, but I ask you to compare what this high school graduate wrote in the post below to what the New York Times just published by a Princeton professor with a PHD.  Now tell me, if you were the publisher of the world’s paper of record, which writer would you hire and which one would you fire? Would you go with the PHD or the common man?


RANDOM OBSERVATIONS

Forty one cents
Washington spends $1.70 for every dollar they have. Put another way, the federal government needs to borrow 41 cents of every dollar they spend. Still, Paul Krugman, eminent Nobel Prize winning economist and darling of New York Times readers is screaming in near panic that Obama is not spending nearly enough.

Since the Nobel panel has honored Barack Obama, Al Gore and Yasser Arafat with the Peace Prize, it is only fitting to award the prize in Economics to Paul Krugman.

Tax increases you never hear about.
WOR radio host John Gambling reported on a move to require airlines to include incidental third party fees in the price of a ticket. The given reason is simplification for the consumer. Sounds good. The real reason is to increase federal tax revenue. Not so good.

A federal tax of 7.5% is charged on the price of every airline ticket. By including the ancillary charges in the ticket price, the 7.5% will apply to the fees as well as to what the airline charges for your seat. Some of these fees are themselves taxes, in which case, you will be paying taxes on taxes.

This type of tax increase is incremental and goes unnoticed. Neither new legislation nor Congressional approval is required. All it takes is a rule change that falls within the authority of a government regulator. It is taxation by fiat.

Safe sexual harassment.
If a Congressman or Senator sexually harasses a staffer and the staffer brings charges resulting in an award for damages, who pays the bill? The American taxpayer pays the bill. Fines have been assessed approaching million dollars, yet the guilty politician pays not a whit cent of it, not even the legal fees.

Bob B

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