{"id":2211,"date":"2014-11-30T07:51:16","date_gmt":"2014-11-30T12:51:16","guid":{"rendered":"http:\/\/olduvai.ca\/?p=2211"},"modified":"2014-11-30T07:51:16","modified_gmt":"2014-11-30T12:51:16","slug":"keynesian-hit-men-on-the-road-krugman-and-rogoff-peddling-toxic-advice-david-stockmans-contra-corner","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=2211","title":{"rendered":"Keynesian Hit Men On The Road\u2014\u2013Krugman And Rogoff Peddling Toxic Advice | David Stockman&#8217;s Contra Corner"},"content":{"rendered":"<p><a href=\"http:\/\/davidstockmanscontracorner.com\/financial-terrorists-on-the-road-krugman-and-rogoff-peddling-toxic-advise\/\">Keynesian Hit Men On The Road\u2014\u2013Krugman And Rogoff Peddling Toxic Advice | David Stockman&#8217;s Contra Corner<\/a>.<\/p>\n<p style=\"box-sizing: border-box; word-wrap: break-word;\">Here are\u00a0a couple of reasons why\u00a0Keynesian economists are truly a menace in today\u2019s bubble ridden and debt-impaled world. It seems that both Harvard\u2019s Kenneth Rogoff and Princeton\u2019s Paul Krugman\u00a0are on the global advice circuit, peddling what amounts to sheer snake oil to desperate politicians and policy-makers who have already buried themselves\u2014-so far to no avail\u2014-in unprecedented waves of fiscal and monetary \u201cstimulus\u201d.<\/p>\n<p style=\"box-sizing: border-box; word-wrap: break-word;\">But never mind. The professors have a three part solution, and its more, more\u2026\u2026and moar! To make room for more monetary stimulus after six-years at the zero bound, therefore, Professor Rogoff has a truly juvenile solution. Namely, to abolish cash. That\u2019s right, this Harvard windbag\u00a0proposes to confiscate your kids\u2019 piggy bank and any green stuff that may\u00a0 be left in your wallet.<\/p>\n<p style=\"box-sizing: border-box; word-wrap: break-word;\">Meanwhile, Krugman has\u00a0made a quick circuit through Tokyo, where he\u00a0apparently was instrumental in convincing Japan\u2019s prime minister to cancel the next installment of the consumption tax increase\u2014a move that was\u00a0utterly necessary in order to stem the nation\u2019s massive flow of\u00a0red ink. But why not\u00a0spend a few more years adding to Japan\u2019s staggering debt burden, which is already\u00a0at 230% of GDP and rising inexorably in a nation that is fast becoming the world\u2019s foremost retirement colony? After all, Professor Rogoff has now perfected a scheme which will allow central banks to monetize all the debt\u00a0that even the most profligate\u00a0government can possibly issue.<\/p>\n<p style=\"box-sizing: border-box; word-wrap: break-word;\">So start with Professor Rogoff \u2018s incredible assault on the peoples\u2019\u00a0cash and coins\u2014a necessary prelude to even more fantastic rates of central\u00a0bank\u00a0monetary expansion. Here is exactly what he recently advocated at a \u201cprestigious\u201d international\u00a0policy forum:<\/p>\n<p style=\"box-sizing: border-box; word-wrap: break-word;\">&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Keynesian Hit Men On The Road\u2014\u2013Krugman And Rogoff Peddling Toxic Advice | David Stockman&#8217;s Contra Corner. Here are\u00a0a couple of reasons why\u00a0Keynesian economists are truly a menace in today\u2019s bubble ridden and debt-impaled world. It seems that both Harvard\u2019s Kenneth Rogoff and Princeton\u2019s Paul Krugman\u00a0are on the global advice circuit, peddling what amounts to sheer [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[1035,309,452,1508,467,614,1234],"class_list":["post-2211","post","type-post","status-publish","format-standard","hentry","category-economics","tag-cash","tag-fiat-currency","tag-japan","tag-kenneth-rogoff","tag-keynesian-economics","tag-paul-krugman","tag-stimulus"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2211","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2211"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2211\/revisions"}],"predecessor-version":[{"id":2212,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2211\/revisions\/2212"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}