Krugman Koolade

The Democratically controlled Congress has deemed as passed a 1.12 Trillion dollar budget with no budget attached for 2011 http://www.humanevents.com/article.php?id=37893 and Paul Krugman has explained that the only reason we’re not awash in good fortune is the idiots who have bought into the idea that trippling the debt in 18 months is somehow a bad thing are not investing.

No really.

He even calls it the Myth of Austerity.  And I thought all those struggling with jobs or finding their costs of living going up or feeling anxious about the future and taxes and our prosperity was based on facts like the looming tax hikes, the ever-increasing entitlements and debt and ever-increasing size of local, state and federal government.  It was all just in my silly woman’s head. 

http://www.nytimes.com/2010/07/02/opinion/02krugman.html?_r=1 

Apparently because we don’t believe Krugman’s theories or Keynesian economics, we’re all just stupid lemmings not to believe that priming the pump a’la  stimulus bills will bring about a recovery, (the fact that it hasn’t is a mere detail).  Given my apparent ignorance, I have to ask this simple question of true believers.  

At what point will the government have spent enough money to have us arrive at Utopia?  At what point will the primed pump gush forth its bounty the way oil is currently surging into the gulf?   At what point will you be able to tell us, “See.  See!  And You thought we were headed towards bankruptcy and massive inflation and ever spiraling worse debt!” 

What are the markers, the indicators of your success?  When will they show up?  Why will they show up?  At the moment, all I see is you scolding us for not believing because in our own simple hum drum lives if we spend three times what we make, we eventually have those bills come due and we wind up in huge trouble.  Do you live your lives this way, floating massive debt and having economic growth as a result?   Show me the money.

Show me the country, the past studies, the past history where this worked, on a micro scale, a macro scale, any scale other than the world of theory that this would all work if only…the government spent more…if only this had not happened…if only the states had done this…if only the businesses had believed in Tinkerbell just a little bit more.   Show me when Keynesian theory has worked and why.  Show me why you have such blind faith in these theories when the people whose business it is to make money and make money for other people, have no such trust in these scenarios: i.e. the investment class that you declare evil because they are unbelievers.  

This type of thinking by the existing congress, existing administration, existing elite economic theorists who write for the New York Times maintains, we just haven’t done enough.   So I ask, what is the number, the magic number at which you must declare that maybe, perhaps, this theory is just that, and not actual economic reality or do you have a number at which you would be willing to consider that possibly, real dollars and cents don’t work the way theoretical ones do.   

Spouting the only thing still tax free, my own two cents.