Paul Krugman, professor of Economics at Princeton, and guest tonight on Keith Olbermann-
What he said about McCain is SHOCKING: below the fold.
Impressive Bio:
Mr. Krugman received his B.A. from Yale University in 1974, and his Ph.D. from MIT in 1977, where he was the Ford International Professor of Economics. From 1977 to 1979 he taught at Yale then moved to MIT, where he remained on the faculty from 1979 to 1994, he then moved to Stanford from 1994 until 1996. In 1982-3, on leave from MIT, he served as chief international economist of the Council of Economic Advisers.Prof.
Mr. Krugman is the author or editor of 20 books and more than 200 papers in professional journals and edited volumes.
His professional reputation rests largely on work in international trade and finance; he is one of the founders of the "new trade theory," a major rethinking of the theory of international trade. In recognition of that work, in 1991 the American Economic Association awarded him its John Bates Clark medal, a prize given every two years to "that economist under forty who is adjudged to have made a significant contribution to economic knowledge." Mr. Krugman’s current academic research is focussed on the application of ideas from complexity theory and the concept of self-organizing systems to economics.
This is one smart man!
Krugman's most interesting comment about McCain's failed economic policy:
Paraphrasing until video is available:
"Of course there is strong suspicion that if elected, Phil Gramm will serve as Sec. of Treasurer....And many think if anyone can get us into another depression, Gramm can do it"....!!!!
Yes. That's what he said. He also strongly criticized McCain's comments today about the fundamentals of the economy being strong (of course McCain has already backpeddled and is now criticizing- condeming, passing judgment on - Obama for criticizing his statement because he was of course talking about "the people of America" as the fundamentals...so Obama was critisizing the people of America)...huh?
He also stated that of all people to "reference" why would McCain use those words...fundamentals of the economy are strong - because everyone knows those were almost the exact same words used by that economic policy giant - Herbert Hoover...He actually seems to be horrified at the notion...so many a new meme can be
"McCain = Herbert Hoover = no understanding = leading us to economic downturns for years to come."
I hope this diary will develop over the course of the evening once the video is available. Also, those of you on the west coast, get a latte and sit back and enjoy this. It was SHOCKING!!!!
Prof. Krugman hit the nail on the head and then some. I hope the video of this interview is available soon. It is worth a watch.