YES, YES, YES!!!!!

In two of his weekly columns in the New York TImes, Mr. Krugman suggested that one way out of the current economic crisis is to look at how World War II brought the US (and the world) out of recession. Not only is this idea hawkish, and ugly, but it is not in accord with the facts. Industrial production more than doubled between 1932 and 1937, at which time the US was still overwhelming AGAINST getting involved in war in Europe. The same index rose another 50% by December 1941 when the US finally enterred World War II. Thus, MOST of the recovery from the Great Depression of 1932 came by 1937, and viritually all of the recovery was finished by late 1941. All BEFORE the US entered the war. I do not trust a man who gets his economic facts wrong and wants to run a complicated economy.

Maybe economic advisor. He will be a good advisor.

And please, when reading CommonSense’s comments, realize that this person goes to a ‘very special’ school which seems to have taught them to overweight certain individual preferences . Some examples of overweighting include “finger-painting” over health care funding, “recess” over financial regulatory mechanism placement, and “having the crust cut off the corners of [his] sandwich, just like at home” over the equal protection clause.

So far Tim Geithner (aka Obama) has been pushing the US financial cart in the same direction as Bush; did any one expect any thing different?
Henry Paulson distributed 100s of billions of dollars to Wall Street where he belongs and Tim is doing the same, he too belongs to the same gang.
Some correction is required there if not a big CHANGE. Paul Krugman seems to have an encoraging approach !!

I recommend Joseph Stiglitz as Treasury Secretary, the US Economist at Columbia University, who once was with Council of Economic Advisors and the World Bank, and has strong records of stating policies which are effective, fair and just.

Here is one of his latest article http://www.scribd.com/doc/11531320/The-E conomic-Crisis-by-Joe-Stilglitz

@John

They also taught me at that school the fundamental principle of American democracy. Don’t trust government. So yes I overweight the individual preference to not be beholden to government waste and knee-jerk policy which serves special interest more than public well-being. The depression economics Krugman proposes do not address the real issues which create the depression, they merely push off the effets to the next genereation(s), and in the mean time grow the government beyond the control of the people who are the Owners.
I understand you want healthcare, regulations and such but we are not economically sound enough to handle all that now and expand government. What happens when China and other creditors balk on our treasuries as payment for the interest on our outstanding debt? Don’t answer yet, we’ll pick this up in the tent city.

As long as the crooks in Washington and Wall Street are allowed to run this country, nothing will change. Keep in mind the final solution which is being sought for by world powers. A single global currency and a one world government. The global meltdown is necessary to accomplish this goal. This is a planned depression.

Amyone who believes in Krugman is a fool, simply put. Keynesian economics do not work. The idea is that you print money to pay for all the things you need to be prosperous. This is the basis of the New Deal. Go into debt in order to get out of the crisis at hand. What happens though is that with every dollar you print you make those already in circulation worth that much less. This is called inflation and effects generation after generation until it is corrected. Ever wonder why your parents could go to a movie for 25 cents 40 years ago? Once the printing press of money gets too impactful on prices you need to resort to Plan B…find foreign creditors. Foreign creditors buy your debt assuming you will be successful and will be “good for it”. But the US no longer produces anything of enough worth to pay for the debts we racked up. We buy everything from our creditor and as payment give them more debt. Or print more dollars…more inflation. Krugman advocates going deeper in debt to put the plans in place which supposedly will help us create capital, reform healthcare, switch to alt energy, re-focus education to science & math. All things we need to do certainly in order to be prosperous. What he doesn’t take into account is the fact that China and other foreign creditors are better off funding their own progress than ours. Granted I can’t understand why they chastise Obama’s budget but still fund it by buying more debt. I think eventually they will wise up and invest in themselves rather that the US economy which is for all intents and purposes a lost cause. American Exceptionalism seems to be present not only in the US but other countries as well, but unless we give reason to support that belief, i.e., a strong rebound, than that will fade. My final question, how do we rebound without a viable, profitable industry to invest in?
So we as taxpayers (investors) will be asked to give more to fund the dying economy which produces less than needed and persists on credit. The US economy is basically the same as Madoff’s investment firm with the ability to print money to cover the losses.