If you missed it, Paul Krugman doesn't even understand Ron Paul's points.
That is how monopolized our financial education system is. If you have a degree in Finance, it is based on a fundamentally flawed principle. If you have bad monetary habits; you can create fiat currency that is managed by a central banking authority with control measures to limit your spending to only the critical of spending areas until external factors change and you are allowed to recover through spontaneous change.
That is the definition of insanity. Trying to borrow yourself out of debt. Keynesian's will try and conflate the issue by saying it's more complicated than that. I, and anyone else that has ever actually managed money or a real business knows; if you're cash flow is in the red because of cost, overhead and regulatory control measures(you have no control over) YOU"RE SHUTTING IT DOWN.
Congressman Ron Paul was representing a fundamental fact. Cut your losses, learn from your mistakes and try it again with your new learned method. Ron Paul uses Rationalism and Chaos Theory to weigh on what methods we should use. He reasons through the logic of monetary policy. Where Keynesian economists "theorize and hypothesize as to what MAY happen" if they do or do not place monetary controls because they KNOW what the result of the last 100 years of fiscal policy (Inception of the Federal Reserve in 1913 we have lost 99% of our currency valuation).
That is why Ron Paul says Bernanke and Keynesian economics is/are a Fraud.
We, are creating inflation at an exponential rate and debasing not only our currency; but our ability to get out of the debt that inflation and our policies have caused.
@windsortrain Bet against the dollar, stay away from the #NYSE or #Nasdaq and spread your cheeks.
— Trenton Boatner (@EndtoSuffering) August 12, 2014
17 trillion and counting. Combine public with private debt and you, as an individual owe more than 300,000$ right now because of the monetary policy of your government and the monopolization of our Economic model.
Ladies and gentleman; Mussolini called it Corporatism. A covert version of Fascism that creeps in through your wallet into your bank account under the guise of materialism and progress as "The American Dream". Until finally, your chains are your debt. You are forced to work at a job that can no longer pay the bills and you have no ability to recover because your specialized task that you call your career is now obselete and you have no other training because when you weren't working, you were following the social influnces that say spend, party and YOLO keeping you occupied, drained and divided.
When in reality; The Anarchists and Minarchist Libertarian Party that formed this country's dream was to have their own land, do their own work and reap their own reward without the intervention of external forces or "False Authority". These men, like the Mayans left their highly specialized positions in Eurpoe to be the "homesteaders" we have today. The, "off the grid" folks. They don't do so because they don't like people. They do so because they love people, and it hurts them so to see others treated the way they do; and they are tired of speaking up as a lone voice. Professor Krugman, and the rest of civil society suffer from a bad case of Positivism, Collectivism and Social Influences. He has been neglected an accurate picture of world economic history and his Keynesian Economic authoritarian figures of Alan Greenspan, Ben Bernanke and the writings of the great Keynesian, Milton Friedman to speak from an authoritarian stance; the weaker minded don't question the policy when it is gifted as the only way.
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