Saturday, September 27, 2008

Paul Krugman on Palin's Economics: "Totally Incoherent"

Paul Krugman joined Amy Goodman on Democracy Now! on Friday morning. Naturally much of the broadcast centered around the ongoing financial crisis. For those who don't know, Krugman is professor of economics and international affairs at Princeton University and a columnist at the New York Times.

Goodman played an excerpt of Sarah Palin's recent interview with Katie Couric. Couric was in fact on CBS' The Early Show and introduced the clip. After watching it, Krugman commented (emphasis mine).
KATIE COURIC: She’s not always responsive when she’s asked questions and sometimes does slip back to her talking points, so it was a really interesting experience for me to interview her yesterday.

MAGGIE RODRIGUEZ: Let’s see if that’s the case here. We have an excerpt where you ask her about her opinion on the bailout.

COURIC: OK.

Why isn’t it better, Governor Palin, to spend $700 billion helping middle-class families who are struggling with healthcare, housing, gas and groceries, allow them to spend more and put more money into the economy, instead of helping these big financial institutions that played a role in creating this mess?

GOV. SARAH PALIN: That’s why I say, I, like every American I’m speaking with, we’re ill about this position that we have been put in, where it is the taxpayers looking to bailout. But ultimately, what the bailout does is help those who are concerned about the healthcare reform that is needed to help shore up our economy, helping the—oh, it’s got to be all about job creation, too, shoring up our economy and putting it back on the right track. So, healthcare reform and reducing taxes and reining in spending has got to accompany tax reductions and tax relief for Americans. And trade, we have—we’ve got to see trade as opportunity, not as a competitive, scary thing, but one in five jobs being created in the trade sector today. We’ve got to look at that as more opportunity. All those things under the umbrella of job creation. This bailout is a part of that.

AMY GOODMAN: Republican vice-presidential candidate Sarah Palin on CBS. Paul Krugman, your response?

PAUL KRUGMAN: You know, I’m sorry, but, you know, I am a college teacher, and that sounds like nothing so much as a freshman who hasn’t actually done any of the—read any of the readings and is confronted with an essay question on the exam, and so he throws in sort of random paragraphs of stuff that he thinks kind of sounds like economics. That was incredible. That was totally incoherent.
Look, I'm not an economist like Krugman, but even I could see that was totally rambling and made no sense. This is the person some want to be a heartbeat away from the presidency?

There is an MP3 version of the broadcast at Democracy Now!'s site; the clip is about 17:45 into the broadcast.

46 comments:

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Thanks alot for sharing this post,it contains lot of that stuff which I didn't knew.Like,Krugman is professor of economics and international affairs at Princeton University.

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I totally agree that it’s got to be all about job creation.

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If he is a good Economist then he deserve different place,He have too switch Amy...

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It’s gud to know that Paul Krugman joined the Amy Goodman. But it is very surprising that he has joined the army after even being a professor of economics and international affairs at Princeton University and a columnist at the New York Times.

Cindy Margott said...

I am quite interesting in this topic hope you will elaborate more on it in future posts.Thanks for the information on blog.

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Couric was in fact on CBS' The Early Show and introduced the clip.

Dave Stubbe said...

Well that's fact,All those things under the umbrella of job creation. This bailout is a part of that.

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It is very surprising that he has joined the army after even being a professor of economics and international affairs at Princeton University.

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I don't understand why he change his field.I think he have to move toward in politics he get a great opportunity there...

Trent Jordan Vancouver said...

Krugman's analysis ignores the fact that there isn't a single candidate on either ticket who has the economic credentials he espouses.
I see it as just another pundit denouncing anyone and exclaiming..

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If he is doing great job as Economist then off course he deserve different place as he has right now.

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I think that he is doing good job as an Economist, and he should get different place as he has right now. It is an interesting topic, i appreciate to elaborate it more. Thanks for the information on blog.

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Thanks a lot for alarming me with this information.Good to know that being a successful economist he joined army.and I agree its all about creating jobs.

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It it is very surprising that he has joined the army after even being a professor of economics and international affairs at Princeton University and a columnist at the New York Times.

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That is the fact man. All those things under the umbrella of job creation. This bailout is a part of that.

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The post is worth reading,and contained some interesting stuff.

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They’ve got to look at that as more opportunity. All those things under the umbrella of job creation. This bailout is a part of that.

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He should get different place as he has right now. It is an interesting topic,i appreciate to elaborate it more.

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We have an excerpt where you ask her about her opinion on the bailout.

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I think he have to use his talent and do something in politics,arm is not made for him...

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Krugman is professor of economics and international affairs at Princeton University and a columnist at the New York Times and he joined the Amy Goodman,good going.According to me one must explore oneself in different fields and for different opportunities...

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It is good that he has joined the army, he was an professor of economics then also he joined it. it is really surprising.

Danny DeMichele Entrepreneur said...

I think the fact is, these economic experts just like Krugman, are as guilty as hell for giving bad economic advice and touting it as Gospel while the economy is on a relentless plunge into an abyss.

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The fact is, these economic experts just like Krugman, are as guilty as hell for giving bad economic advice and touting it as Gospel while the economy is on a relentless plunge into an abyss.

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Ultimately, what the bailout does is help those who are concerned about the healthcare reform that is needed to help shore up our economy.

GaiaSaunas.com said...

Palin is a bully and has finagled her way up the political ladder in Alaska. The American people have had seven and a half long years of empty rhetoric from an ineffective bully. I see no difference between McCain/Palin incompetence...

Max Furniture said...

I must say he is a multi talented person..being a professor of economics and international affairs at Princeton University and a columnist at the New York Times.. joined Amy Goodman.keep it up.

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Really bad its who don't know, Krugman is professor of economics and international affairs at Princeton University and a columnist..

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I see it as just another pundit denouncing anyone and exclaiming..

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Palin is a bully and has finagled her way up the political ladder in Alaska. The American people have had seven and a half long years of empty rhetoric from an ineffective bully.

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It is very surprising that he has joined the army after even being a professor of economics and international affairs at Princeton University and a columnist at the New York Times.

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This economics and international affairs at Princeton University and a columnist at the New York Times.

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I think its Early Show and introduced the clip. After watching it, Krugman commented..Thanks

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If the purpose of life of Paul Krugman is social work for country then he can do his work as a solder and as a economist but if his desire is to become a great economist then he have to do only that job....

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He is multi-talented guy wherever he work even in miletry also he will do best,I hope he'll use his knowledge of economics in miletry also as per requirement...

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What a strange has come in paul Krugman's life but its a great thing he didn't let down.A good thing is also here that he was not in Predicament,Able nature..

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If he has a good knowledge of economist then I think he has to be make his carrier in economist field because he has a good command over it..

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The American people have had seven and a half long years of empty rhetoric from an ineffective bully.

Just Energy said...

I think the Krugman is professor of economics and international affairs at Princeton University.

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Paul Krugman was very talented and he can do any thing with effective use of his knowledge tool and I think its a good chance to prove himself..

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If somebody have a talent then we can do any thing in this world because talent is require to do any thing well, Paul Krugman have and he can do any thing any where and economist persons are very talented and knowledgeable..

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This economics and international affairs at Princeton University and a columnist at the New York Times..

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I think he have to identify his skills and move from here and do that work which skills he have,otherwise after some time he will frustrate and dominate by his work..

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I agree with Krugman. She sounds like a bimbo college freshman who hasn't done any of the assigned reading and is trying to BS her way through the question.

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He have to identify him and his skills and use them in well manner to get success,he have a great knowledge of economics then he have to use that...

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I think she has been incoherent on nearly every topic she's addressed.