As one who loves consistency, I have urged Paul Krugman in my Krugman-in-Wonderland post today to be consistent with what he preaches and spend all of his income. If he wants to “invest” or “save,” he can buy government bonds, since the government is spending everything it gets these days.
Source link: http://archive.mises.org/13666/my-open-letter-to-paul-krugman-spend-all-of-your-income/
My Open Letter to Paul Krugman: Spend ALL of Your Income!
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If one applies a loose definition all things are investments: For what is an investment but something expected to have a future return? The food in my fridge is an investment because I expect it to feed me later. We act because, when the action is completed, we expect our uneasiness to be eased.
Therefore, the only true way for Krugman to be consistent is if he destroys all of his possessions and ceases to exist.
I’ll drink to that.
If he [Krugman] wants to “invest” or “save,” he can buy government bonds, since the government is spending everything it gets these days.
Hey Paul, I suggest you buy new 30 year treasuries. And hold them to maturity.
Beautifully written and thought. There’s no way Krugman could justify himself; however, he’s a pathological liar, so my guess is that he won’t have to.
Bill:
Why does Paul Krugman need to spend all his own money when he can spend all of yours, all of your kids and all of your grandkids? You, your kids and your grandkids have been placed in the position where you are picking up W.C. Fields bar tab, and you are being told that he only needs to drink a few more quart cases of gin to get sober!
Insulated, Krugman never has to answer for himself. Let’s hope he is as much a fool with his personal finances as he is with his quack pronouncements.
excuse me – but this is like ketchup economics – 2 quarts – pint is worth 2 multiplied by the price of one pint !! it doesnt add up
olga lednichenko
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