http://cosmos.bcst.yahoo.com/up/player/popup/?rn=3906861&cl=10925086&ch=4226720&src=news New York journalists always have our best interests at heart - i trust him if people believe him we have no chance to ever recover. what a nation wrecker. He has a nobel price in economics, but so did the 1998 LTCM people uh, in the way off chance he's wrong, what is he backing his guarantee with? sorry about the video, i couldnt find these astonishing words in print
Krugman is no longer an economist. He's now a political hack. His academic work is very different from his public blathering, incidentally. However, Marxist economists won the Nobel Prize before. They would only award Hayek a prize if he shared it with a Marxist economist and they only conceded to give Hayek one because they couldn't NOT award him one and remain the least bit credible. The prize in economics is almost as big a joke as the "Peace" prize.
as i understand it, he's saying we could go 20 trillion on this bailout without a 'real problem' the amazing thing about 2008, is how traitors 'one up' each other
10 trillion here and 10 trillion there, pretty soon we're talkin' real money. People have lost their damn minds. BTW 10 trillion one dollar bills is a stack 678,661 miles high - enough to go to the moon, back to Earth and most of the way back to the moon again.
here's another way to look at it if he says 10 trillion is no problem, that leaves us with 20 trillion debt if interest rates go to 10 percent, which they very well could, that's $26,666 for every single family of 4. $6,666 for every man woman and child every year, just for debt service on the national debt. one trillion = 1 thousand billion/300 million people = 3,333 3,333/10 (10 percent interest) times 20 = 6,666 per person