Paul Krugman proposes an intriguing concept for wresting the country from financial doldrums: boosting spending as if aliens were a threat.
Economist Paul Krugman has a simple answer to America’s financial woes: Prepare for an alien invasion.
Arguing that the United States effectively ended the Excellent Depression with government spending, he supplied an fascinating idea about how to replicate that economic feat on Tuesday at the Take Back the American Dream conference in Washington, D.C.
“If you actually look at what took us out of the Excellent Depression,” the Princeton University professor said in an interview with Chris Hayes of MSNBC. “It was Europe’s entry into World War II and the U.S. buildup that began in advance.”
“So if we could get a thing that could lead to the government to say, ‘Oh, never ever mind those budget factors let’s just spend and do a bunch of stuff.’ So my fake threat from space aliens is the other route,” Krugman said prior to a laughing crowd. “I’ve been proposing that.”
The Princeton professor and New York Times columnist is a well-known fan of science fiction, which might clarify his imaginative program to spur an financial recovery.
Krugman has offered up his space alien proposal before. Last year he told CNN about a “Twilight Zone” episode in which “scientists fake an alien threat in order to achieve world peace.” He told CNN, “Well, this time … we need it in order to get some fiscal stimulus.”
Project Bluebeam becoming an economic necessity? Crazy world we live in…
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I believe that Nobel Prize winner for economics, Paul Krugman has been right since the beginning of the Obama administration regarding this country’s path toward economic recovery. At that time, Krugman warned Obama in an editorial, that his stimulus was too small and would only slow down the country’s economic comeback.
If Mitt Romney is elected president, the U.S. will experience an economic disaster the likes of which have been recently seen in Ireland, according to Paul Krugman. “Ireland is Romney economics in practice,” the Nobel-Prize winning economist and New York Times columnist said on the Colbert Report on Monday.