Ep. 57 Everything Is Awesome, So Why Are Trump and Ryan Complaining, Wonders Krugman

21 October 2016     |     Tom Woods     |     9

Both Donald Trump and Paul Ryan, each in his own way, spin crazy dystopian stories about America, says Krugman. Our country isn’t perfect, but where are they getting these crazy ideas? We sort out who’s crazy and whether things really are dystopian.

Krugman Column

Their Dark Fantasies” (October 17, 2016)

Contra Columns

How Draconian Is Paul Ryan?” by Bob Murphy
How Rising Violence in Just 10 Cities Drove Up the US Murder Rate,” by Lois Beckett and Aliza Aufrichtig

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  • nonlinearsandwich

    Krugman and his ilk live in a parallel universe. And this “urban revival” he speaks of is happening entirely in his head. At some point Krugman’s rickety mental spaceship must crash into Earth.

  • nonlinearsandwich

    Batman and Robin? That’s what the end of the episode sounded like. I hope they schedule a Seattle-to-Anchorage cruise. But that might take them out of their comfort zone.

  • Jim Carroll

    You guys have the link to the Guardian article you mention but not the factcheck.org entry or the NY Times article you mentioned.

    • Jim Carroll

      NM. They’re both linked to from the Krugman article

  • JimD

    Unbalanced discussion:

    1) On crime the discussion hinges on what the current numbers are compared to – last year or the high rates of 20-25 years ago. Ironically you support Trump by using percentage rates rather than absolute numbers (e.g. while murders may be up in % terms they are still way down in absolute numbers from a few years ago). Didn’t you criticize Krugman for using that approach on Texas abortion restrictions?

    2) In your discussion of Ryan, you ignore his signature proposal of Medicare/Medicaid vouchers. Because it undercuts your argument that Ryan is not trying to scale back the government?

    3) The Pelosi/Biden comments sounded pretty right on – making allowances for Biden, of course.

    Finally, would have been more interested in your take on why Krugman is obsessed with Ryan (he goes after him by name continually) Jealously and/or fear?

    • Jim Carroll

      On (1), they were pretty clear that this was the case. Bob even walked through the “factcheck” article that laid this out.

  • Adrian Gutierrez

    I understand the concerns of people in regards to a spike in crime rates, and I am also a realist in regards to noticing certain trends regarding historical data. What I do see in the stats that were posted in reference to the spike in crime rates in 2015 is that those cities that saw a spike in crime rates were cities where African-Americans have the most destitute living standards. If in fact Trump could do something about helping lower poverty rates, or reduce the unemployment rate for that demographic, then certainly it may make sense to pay heed to some of his policy prescriptions.

    It is true that this could be a cultural thing, but adding more police will only create more animosity toward police on behalf of African-Americans. Trump desires incrementing the number of police in the streets in cities across America. How can this be an effective way to reduce the other underlying problems that create the circumstances in each of these cities.

    Trump further blames “bad hombres,” and illegal immigrants. This statistic is way off reality. Unless of course we desire following the unrealistic perspective of people like Ann Coulter, who also advocates ideas based on racial superiority, does Trump have any credibility in the things or people he is blaming for violent crime. This is overtly protectionist and statist.

    I am not trying to defend Obama in any way, nor do I support his policies, but Reagan had similar unemployment rates as does Obama now. What is the difference between any of these statists? I believe defending one candidate over the other makes no sense from a libertarian angle. What America needs to solve the violent crime in inner cities is true radical cuts in the manner Ron Paul advocated. Trump has many offsets, cuts in taxes, but increases in others. He will not get rid of the Fed, only raise rates, which is a tactic Reagan’s fed chairman imposed. It is a policy any fed chairman would pass. Most importantly, his cuts will cause the already created inflation to pour into the economy at a more precipitous rate. After WW2 there was basically a false boom that built up until 71 (end of Bretton Woods), with small dips in-between. That’s credit expansion through and through. Do we need more of that? Trump is another big talking Republican.

    Indeed I am not advocating voting for Clinton, the democrats are just to easy to chide, such as Krugman, yet I will not sit and defend another Reagan-like Republican that will end up expanding credit and either amplifying the bubble or recreating it. Trump says “low rates,” and all of a sudden he seduces certain naive libertarians that cannot see through the lies of a weak monetarist. Import taxes are socialist and will offset his corporate tax cuts. His income tax cuts are of an effect that equates to 5% at most on average. Finally, he will continue the iniquitous inflationary process of capital consumption. Libertarians should be wary of this socialist and he will not make america great again. His “bring the troops” home line is coupled with “bomb the sh** out of ISIS.” He is using artifice to insinuate he will perpetuate the wars in the middle east. He is offsetting.

    Overall, thanks for the podcast, both of you are amazing.

  • http://www.economicmanblog.com Roger Barris

    For a good discussion on how completely non-radical Ryan’s fiscal proposals are, this piece by David Stockman is great: http://davidstockmanscontracorner.com/10000-monkeys-tapping-an-hp-calculator-even-palin-figured-out-congressman-paul-ryan-is-a-fiscal-fake/