Thursday, August 18, 2011

Paul Krugman Has Read and Watched the Watchmen Too Many Times

I am a fan of comics, and the Watchmen was a very important, groundbreaking graphic novel, but to base policy off of it? Seriously? But that is exactly what Paul Krugman has done. He is saying that the government should fake a space invasion so as to create a crisis to drive a defense buildup. Daniel Mitchell calls the Nobel Nincompoop out on this stupidity:
Paul Krugman recently argued that a fake threat from space aliens would be good for the economy because the people of earth would waste a bunch of money building unnecessary defenses.

That was a bit loopy, as I noted a few days ago, but other Keynesians also have been making really weird assertions. Obama’s Secretary of Agriculture (another department that shouldn’t exist) just said that food stamps are a great form of stimulus (video at the link, for those who think this can’t possibly be true).

Makes me wonder if they’re having some sort of secret contest for who can say the strangest thing on TV. And if that’s the case, Nancy Pelosi has to be in the running for her claim that you create jobs by subsidizing joblessness.

Check out Mitchell's excellent refutation of Keynesian Kookery in this video: