Monday, January 26, 2009

Annals of 0% Interest for the First Picosecond!

This video is worth it just to watch the look of tender befuddlement on Paul Krugman's face as Sam Donaldson imitates Don Lafontaine imitating Sam Donaldson and Carly Fiorina . . . well, I was distracted by her hair cut and forgot. Didn't she preside over the destruction of HP or something? Anyway, and leaving aside any specific disagreements with El Krugster, he keeps trying to lead these people gently to the idea that returning the economy to its condition just prior to the current inchoate depression is a bad idea. You think? He's all like, a healthy economy has people with "jobs" earning "wages" who save a little bit and spend in proportion to what they actually make, and Fiorina is all like, Free Black AmEx for EVERYONE!

Posted by IOZ at 10:39 AM | email »
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7 comments:

Anonymous said...

But, but, but, the problem is consumers don't have enough credit.

Prof.

11:15 AM
SteveB said...

Can't they just keep sending us $600 checks until things turn around?

I'm willing to give it a try.

11:55 AM
Crusader AXE said...

I wonder at times how people like Krugman can stand to be in the room with people like Donaldson and Fiorini. Not sure what Donaldson's comment about "buying HP computers" was supposed to contribute in his consumers need to spend a lot and that'll solve everything approach. Kind of knifing Carla in the ribs and twisting while babbling at Krugman. Actually makes you appreciate George Will, although I'd rather listen to him on baseball. When Will is advocating spending on infrastructure, you know it's bad.

I kind of like the exchange about the "monetary policy works better than stimulus packages"... actually, I liked it a lot. "That's wrong." "Close enough for government work though?" "No, it's not..." One of the things I like about Krugman is that he can explain complex economic crap clearly and simply without dumbing it down.

12:51 PM
g-nome said...

The much-vaunted Protestant work ethic has been neatly inverted, though I doubt as a consequence of some Hindo-Judeo-Catholic-minority American ascendancy. To hear Fiorina tell it, government must make it more possible for people to demand instant gratification by spending what they have not earned. Otherwise, what incentive will they have to claw toward the success they pray Providence has predestined for them?

3:48 PM
Anonymous said...

wtf was Til Tuesady era Aimee Mann doing on that panel? Oh, wait, my mistake, that was Cokie Roberts. As you were.

6:00 PM
Keifus said...

I've occasionally fantasized about putting Cokie Roberts and Peggy Noonan into a soundproof pit, and see which could simper the other to death first. In the name of science, you know.

How did Carly Fiorina get to be an economic expert again? Or for that matter Will, Donaldson, Stephanopolous... It reminds me of the Iron Chef panels where they have actors and celebrities judging what's coming off as high culinary art. Well, I suppose they can afford to eat well anyway.

2:59 PM
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2:13 AM

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