Low unemployment is NOT a good thing when it translates to people working 2-3 jobs with uncertain hours, no benefits, etc. -- the statistics only mask the unsustainable conditions that prevail.
@HeyMildred median incomes are slightly higher than they were FORTY YEARS AGO despite the national wealth doubling. and education/health care costs have skyrocketed in that time. you forgot to raise THOSE facts
@HeyMildred But what's the difference in buying power? A handy-dandy online inflation calculator indicates a staggering increase, hardly covered by a paltry $9,000. You can consult [conservative think-tank manipulated] stats until the cows come home, but lived experience reveals the truth.
@HeyMildred your so called facts are being beautifully rebutted by the video. Which you obviously didn't watch. But here's a quick rebuttal. Bezos is now the richest man in the world, and pays 0 taxes. Amazon is in the top 3 most valuable corporations, and pays 0 taxes. Meanwhile many Amazon workers are eligible for food stamps.
it's such a pleasure in this Age of Disinformation to hear from someone who really knows what they're talking about. moral and logical people are a gift. also Bee is a terrific interviewer! I love both of these people!
@@elizabethstuart7406 Seriously babe what do you know about me??? Are you Mrs. Houdini. Krugman is a fraud , an alarmist and a hoaxster. Nothing he writes about never happens. Most recently his recession predictions and market crashes that didn't happen.As for Bee she is just another fouled mouth TV head who copies Maher. You sghould be reading more books . You might learn something. Now scat!
@@elizabethstuart7406 Liz your replies are about as exciting as teets on a bill. Lets talk the day after election. I am sure you might be a wee bit riled up. lmao
I love that Paul gave Nancy Pelosi due credit for saving social security, and how the upper class under estimates the reliance on those benefits. Please do away with the Cap!
How did she save social security, do you mean the same social security that democrats voted to spend the surplus we used to have, that social security. Paul Krugman is a tool, always has been and just protects the establishment.
This was an amazing interview/discussion. It is terrible that this is a medium that our collective ADHD precludes us from experiencing; the discourse was reasoned, intelligent, wide-ranging, and informed. How sadly rare.
1. There is no such thing as trickle-down economics. Never has been. The rationale behind tax cuts is not so that the rich can get wealthier and drop more crumbs from their table, as the name 'trickle down' obscenely suggests, but to incentivise bringing large amounts of capital back into the productive economy rather than have it sequestered in tax minimisation and outright avoidance schemes such as government bonds or tax havens.
Seems to me, from looking around at the city in which I live (Warren, MI), the industries that are hiring are self-storage, assisted-living, and fast-food jobs.
almost everyone that gets "conned" refuse to admit it, for various reasons. Regardless, those conned keep it to themselves. Unfortunately that lets the con-man carry on the con.
I disagree with Krugman. This talk could have been useful to try to understand his position, but it wasn’t. @7:47 They're talking about zombie ideas, first of which is that taxing the rich is bad for the economy. I think this is clearly true. Krugman and host do not. Here is my thought process explaining why I think that taxing people more- rich or not, is a bad idea. 1. In a free market you earn money by serving other people via voluntary exchange. 2. To get rich in a market that is free from government coercion (like forcing you to use DMV), you have to have a _lot_ of happy returning customers, like McDonalds, Apple or Google. 3. Taxes take away what you have earned and gives it to the government, the foolish spender with ballooning deficit and subpar services to show for it. 4. That money you've lost means that you can no longer decide how to use that money to expand business, open new branches or invest in research and development of new products or services. 5. No expansion and no R&D means that there are no new jobs, no new goods or services- the very definition of hurting the economy. I wish Krugman shared his thought process why he thinks it is a good idea to take from creators and give to wasteful spenders. I wish he elaborated why he thinks that someone had to pay me to think logically. Nothing about his position seems rational. It appears to be designed to appeal to emotion and deny reason.
I don't think I believe this idea that young people call themselves socialists just because they've been taught that "socialism" is the word to describe any decent moves in social welfare. I hear a lot of talk about promoting worker coops, about nationalizing Amazon as an essential utility, etc. (All of which sounds good to me.)
For me the two main takeaway points were his remarks that by closing loopholes we could get several hundred billion dollars and the other remark about people with earned income credit being audited more than people with lots of money that to me is actually criminally offensive and obscene. Please join the "Adopt a Zombie" program and bring back to life at least one zombie.
I fucking love Paul. Something he doesn't get enough respect for, is that he admits if he gets something wrong. I dont know of *almost* any other famous economists who do that shit.
Bernie actually shows a comprehensive plan and tax Policy that would pay for universal healthcare and if he joins up as President with huge public support there’s no reason we couldn’t get single payer
For those missing the irony: US futures dropped election night 2016 after Trump won, but markets were up the next day, and the 11 year bull market continues. Don't mix politics and investing.
Which he took back two days later. If only we could never be wrong about anything. "I am retracting that call, right now" on November 11. krugman.blogs.nytimes.com/2016/11/11/the-long-haul/
@@michaell4235 Especially the markets under Trump have reflected a major transfer of wealth and expectations about present values of corporate assets. The first ever slash in corporate income tax rates (as opposed to Reagan and W cuts in top personal income tax rates and progressivity) translated into stockholder wealth (unrealized capital gains never get tax) for Trump's bull market. In addition, eliminating most business regulations since early Nixon on environment, worker safety, consumer rights, etc. also is a boon to the top 1% and 0.1%. Obama's bull market was more about recovery greatly exceeding Europe's and the U.S. returning to total global economic dominance for the first time in 40 years.
The argument of raising minimum wage in a time of low unemployment and low (core) inflation is compelling. OTOH, the actual "labor force participation rates" have been going down in the last 3 decades, and so the problem with minimum wage is it puts a floor on "useful work", so any work that makes a person feel like they are contributing to society, even if not a "living wage" is delegated to people who can afford to volunteer for free. And any work that volunteers don't want to do, and no one wants to pay minimum wage for doesn't get done, even if society would be better if that work existed. Perhaps this shows a category of labor worthy of a "guaranteed minimum income" system, while not "free" is paid to people who are not in the regular labor market, but who are participating in community participation programs a certain number of hours per month. This perhaps already exists with grant money and foundations and certain people are paid periodic stipends rather than hourly to run community programs.
The most well-rounded point of view is not going to be just social or employment issues; but our fundamental life support systems for all our issues. So, employment increase is not always “a good thing”; quality employment unrelated to fossil fuel and petrochemical ventures must be predominantly considered.
I have been in that health care abyss. and it really sucks. I'm talking about being a patient at a heart transplant clinic. And without things like disability and medicare, I'd probably be dead. This happened to me when I was 43. My heart did recover because of programs like disability and Medicaid. This is me winstoncreative.com/
I loved this talk, but it's hardly impossible to implement single-payer health care for all: first get rid of Trump's irresponsible tax cuts for the wealthy; second, slash our obscenely bloated military budget to the bone; and third, start taxing religious organizations like every other business, as was intended in the Constitution!
It is a dystopian economy. Employment isn't an answer of itself and Krugman only briefly mentioned wages. As reported, 40% of Americans are in low wage jobs. They're employed, but they can't make ends meet. There are plenty of other problems related to that. The feudal system is being recreated.
This guy did NOT win the Nobel Prize! The Nobel prize was instituted by the Swedish inventor Alfred Nobel, did not include economics as it is not a science, please read at: en.wikipedia.org/wiki/Nobel_Prize
Look people, I know you hate conservative economists, but at least Thomas Sowell does not openly fondle the bottom of his shoe. (And he also doesn't claim government bureaucrats and unionists do a better job at spending and investing your time and money than you do.)
OK, SO>>>...... can ANYONE help me out with a question. I'm not very political so, anyway, WHAT is the deal with the liberals going back to a WHITE MAN?? I thought we were past- like wayyyyyy past white by now and getting past men as the first choice. We live in a new world, a colored world.
AS FAR AS GATES FEEL TOWARD ALLEN , YOU HAVE TO WONDER IF GATES DIDN'T FEEL LIKE WHY DID ALLENAPPOINT VOLKER INSTEAD OF KRUGMAN , LONG LONG AGO?????!!!!!
BOTH OF THESE PEOPLE , THANKS TO BOTH OF THEM FOR HAVING THIS INTERVIEW , MUST WONDER , IN PRIVATE , LIKE I DO ,HOW IN THE HELL CAN THIS SITUATION GO ON OUT HERE WHEN THE DOCTOR(MD) , & 2 DIFFERENT LAWYERS , BOTH FROM REPUTABLE FIRMS , BE DISMISSED & PUSHED ASIDE FOR THE WHIMSY OF ONE PERSON WITH NO EDUCATION . ESPECIALLY WHEN BLOOMBERG & THE GATES FOUNDATION CAN'T SEEM TO HELP THE GOVERNOR & ATTORNEY GENERAL IN THIS STATE CHALLENGE A DISTRAUGHT , INCOMPETANT , WOMAN WITH AN OVERRIDING COMPULSION TO HAVE ONLY SICK , FAT TERRIBLE PARENTS MAKING NOISE ALL OVER THE PLACE .????? ONE SOURCE I READ A LONG TIME AGO SAID THAT JP ,MORGAN HAD WAY LESS MONEY THAN BILL GATES IN HIS TIME , EVEN WHEN FIGURING THE RATE OF INFLATION BETWEEN THE TIMES , BUT MORGAN HAD WAY MORE POWER . MICKEY MOUSE HAS MORE POWER THAN MONEY WHO TAKE SO LONG TO DECIDE ON ISSUES LIKE JUSTICE FOR ME,(EVEN THE TINIEST NANU OF A THIMBLEFUL , & WHAT TO DO ABOUT TRUMP . NOT ONLY THAT BUT TECHNICALLY I HAVE BEEN WORTH AN IMMENSE LEGAL SETTLE MENT NOW FOR A HALF CENTURY!!!!! IF YOU ARE DAMN STUPID ENOUGH TO REFUTE THAT THEN YOU MUST BELIEVE THAT TRUMP WANT ME FOR A SHIRTTAIL BECAUSE HE IS SUCH A GENEROUS , UNSELFISH , HUMANITARIAN OF THE YEAR TYPE WHO WANTS POOR VERY OLD FAT MEN TO MARRY INTO HIS FAMILY BECAUSE HE HAS A THING FOR THAT KIND OF THING--HA HA HA HA HA!!!!! pww
Does not matter, with global climate change I’m expecting a major problem late next year. That gives us, A Trifecta, unstable economy, and an unstoppable virus. My Grandpa would talk about splitting a hair or sometimes a pea but as a kid, I believed he said pee. 2 things entirely different. So, I guess, the question is, How does one make sense 👉🏼 from the senseless? A dystopian society? O K Here’s the Rule, Monocultures are impossible to maintain over time. They simply poison and burn themselves With their environments out of existence! Drink no poisoned water Eat no poisoned food Breathe no poisoned air. It’s not good for you Your family and neighbors Animals too. Your home is on Fire🔥 🏡 Please, put it out🌲 Gotta keep your powder dry.
@@irlserver42 well then you're lying. because she obviously DOES want to live here. there's a difference between not wanting to live somewhere and wanting to improve the place where you live. learn it
@@dice1296 You have a reading comprehension issue, I said she doesn't want to live in Canada. Evidence, she says she doesn't want to live in Canada - what is your point here?
I DON'T KNOW ABOUT ELIZABETH WARREN SO MUCH ANYMORE , YET I'LL BET THAT MORE THAN ONE ACCURATE BIG MONEY SEES PAUL KRUGMAN'S VIEWS....ESPECIALLY IF LEFT TO DECIDE FOR THEMSELVVES...
The corporate tax rate should be as low as anywhere else in the world. I'm completely fine 15%. Corp tax cuts keep companies from offshoring jobs, which is one of the main reason Trump was elected. Krugman has TDS so bad. And Obama added Nine Trillion Dollars to the national debt in order to get his jobs and growth numbers. Trump did it by simply cutting taxes.
Nonsense. Those trillions went to the 7 wars we were in. Our huge debt that's grown since Clinton balanced the budget has gone to 18yrs of nonstop war. If you think we're really at 3.5% unemployment, than you still have too much faith in our govt reporting reality.
If you knew your history, you'd know why corporate tax rates were at +70% after WWII as well as the Bretton Woods system. It was done to PREVENT the global conditions that occurred after the 1929 crash which created mass global instability. It had nothing to do with "fairness". It was a global domestic insurance policy to prevent COLLAPSE, and the entire western world adopted it. It was totally unraveled between 1970 and today, and we see the results. The west is failing.
@@nathanswann1198 show me anything that accounts for where the nine trillion went. Anything. Instead just talking out of your a$$. The west is failing...LOL. Islam has been making this claim from their sand floors for decades, yet, here we are, while they wallow in famine, war, corruption and failed governments. Keep dreaming
Two prime examples of why we’re in the mess we are today. Self important, non objective, condescending supposed “thought leaders”. When your incapable of seeing ANY value in alternative view points YOUR the problem! Things can never improve as long as these people on both sides dominate the airwaves. When and only when the public quits listening to this kind of crap can and will things improve.
This is a completely ad hominem attack with no substance. You haven’t addressed any of the subjects raised. I’ve never found Krugman condescending or self important. He’s not a supposed “thought leader”, as you put it, he is an important thinker who is valued by his readers. I don’t always agree with Krugman but I have to concede that he knows a lot more about economics than I do. Unless you discuss issues, an attack like this is purposeless.
sell. there's a long overdue recession coming. and the sugar high of trump's debt exploding tax cuts for the wealthy will wear off sooner rather than later
@@davidking4779 I'm a sheet metal fabricator. My money does not go as far as it once did. Just factual info. As to your snide why not something better comment, that is most often put out there by a non value added person, which I assume you are. Young and non value added.
sorry, is that a comedy show or an Economist meeting? 92Y always could guarantee an awesome host..why this..clown this time?! unable to enjoy the interview.. ffs!
