Wednesday, November 21, 2012

The Dumbest/Most Wretched Man to Ever Win a Nobel?

Paul Krugman is one of the most dishonest men in America. The man continues to put forth this absolute lie that Herbert Hoover was a laissez faire capitalist who did seemingly nothing to fight off the Depression. And if he isn't lying, and he's ignorant of the fact that Hoover was the most interventionist President that the nation had ever seen and who rang up more in peace-time debt than his 29 predecessors combined, then he's a imbecile of the highest magnitude......................................................................................As for one his sneakier "assessments" (and, yes, I tend to lead much more toward the dishonesty argument), Krugman claims that it was Hoover's 1932 attempt to balance the budget that made the Depression worse. He claims that Hoover drastically cut spending and that it was this lessening of demand that prompted the downturn. What Krugman does not point out is that, while, yes, Hoover did cut back somewhat on the profligate spending of the previous two years (AGAIN, Hoover out-deficit-spent any other peace-time President in U.S. history), the vast, VAST, percentage of Mr. Hoover's deficit reduction package was taxes. Yep, that's right, Hoover raised the top income tax rate from 25% to 63%, a 152% INCREASE!! And it was more that likely THAT that caused the economy to tank, not the minuscule decreases in spending..............................................................................And if this isn't enough evidence for you, just try some of the statements of FDR and his cronies themselves. Rexford Tugwell essentially admitted that most of the Great Deal was actually nothing more than a continuation of what Hoover had already started. Add to that the fact that during the 1932 campaign, Roosevelt and his running mate, John Nance Garner, both accused Hoover of leading the country "down the path to socialism."...I simply cannot believe that Mr. Krugman is ignorant of all this....or maybe I can.

10 comments:

Marcus said...

Will: What is the sorce of information for this post?

Les Carpenter said...

Will, Hoover was really more of a pragmatist than a free market economic "conservative." One can tell you have indeed studied a bit of history!

Marcus,the data is available on line if one wishes to spend some time in the search. The library is another possibility.

dmarks said...

He's also one mean-spirited individual, and is always one to trust the power of the authorities over that of the average citizen.

Will "take no prisoners" Hart said...

Marcus, google Krugman and Hoover. He's constantly referring to Hoover as a free marketeer who fiddled while Rome was burning and he also refers to modern day Republicans who disagree with him as "Hoovers". As for an excellent overview of the Depression, I highly recommend Amity Shlaes's, "The Forgotten Man". The woman is a conservative but she's a respected member of the Council on Foreign Relations and has actually written for the New Republic on occasion.......Les, Hoover is probably the most misunderstood President in U.S. history. He was as much of a different type of Republican from Coolidge and Harding as Al Smith was a different type of Democrat from Roosevelt and Wilson. The dude was a progressive, essentially (he spoke frequently of the "beneficent hand").......I tend to agree, dmarks. A lot of his editorials read a lot more like hit-pieces lately.

dmarks said...

Not only that, he makes beards look bad.

Will "take no prisoners" Hart said...

No, Abraham Lincoln and Giuesppi Verdi he ain't.......Just for the record, he and O'Reilly seem to have some long running feud and, while it tends to make them both look quite bad, it hasn't been without its humorous episodes, either.

Will "take no prisoners" Hart said...

Marcus, this from the watchdogprogressive.com - "Rex Tugwell, an architect of FDR’s policies, wrote: 'We didn’t admit it at the time, but practically the whole New Deal was extrapolated from programs Hoover started'."......Krugman evidently didn't get the memo.

Rusty Shackelford said...



Why the hell would you even mention Krugman.....when has he been correct?

Would someone please tell us when Paul Krugman has been right about something?

Will "take no prisoners" Hart said...

I remember him saying that the only way that the U.S. would be downgraded was if we failed to raise the debt-ceiling.

dmarks said...

Rex Tugwell.... sounds like some sort of porn star name. Single-performer porn, most likely.