If anybody is ruining his brand with the trillion-dollar coin idea, it’s not the non-economist.

 

Paul Krugman & the Trillion Dollar Coin

Monday January 14, 2013

Category: Humor, Weekend

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

6 Responses to “Stewart vs Krugman on Trillion Dollar Coin”

  1. ByteMe says:

    Never pick a fight with a smart comedian who skewers fools for a living.

    The coin is a stupid idea. We don’t need it. The Fed is quite capable of just printing money and using that to pay the government’s bills. It would debase the currency in a manner similar to the way QE is doing it, but it’s legal.

  2. denim says:

    The coin would save House Republicans from being judged by the work of their own hands. Let us see what the work of the House Republicans and the idiots who voted them into supposedly high office shall be.

  3. KJMClark says:

    Did’ya read the Politico piece on the House Republicans? Did’ya hear the President say at least five times in various venues that he’s not negotiating? So you must think one of them is going to back down. Which one?

    ‘Cause if someone doesn’t shrivel by late February, we’ll see whose brand looks bad. I like Stewart, but at the moment I’m thinking he’d look like a real fool afterward. But you know, that’s what he plays on TV, and most people think this whole debt ceiling thing is a big joke anyway.

    And Ritholtz??? You really understand these things better than Krugman??? That’s some chutzpah.

  4. Anonymous Jones says:

    Krugman responds: “Still Lazy. Can dish it out but can’t take it. Sad.”

    You would almost think that a 13-year old girl had temporarily taken control of Krugman’s blog. As much as I never, ever want to write the adolescent taunt “can dish it out but can’t take it,” I cannot imagine any objective observer not being able to tell who is capable of “taking it” in this scenario and who is clearly not.

    And seriously, talk about “sad.” Wow. A Nobel prize winner with his position of authority saying something like that in print. I guess I should never be surprised at the depths of human insecurity, but I still am, I guess.

  5. drtomaso says:

    I’m sorry, I’m with Krugman on this one. The coin is an idea that is simultaneously functional (it will work), legal (its a power granted the President by Congress, albeit by mistake), and ridiculous. That we have to consider a ridiculous idea because the party of ‘fiscal responsibility’ ridiculously wants to trash our economy to “starve the beast” is, in a word, ridiculous.

    Just pointing at the coin and saying “that’s silly” doesn’t help. Of course its silly- I think even Krugman agrees with that. But you know whats sillier? That we have to resort to things like this because the house GOP has abdicated their responsibility to the people. It would be great if a certain widely watched comedy show that has been shown to be a dominant source of legitimate news for a huge swath of our citizenry would take it on themselves to educate the masses (in a humorous way of course) on this life or death issue for our economy, and all Krugman pointed out in the piece Stewart refers to was that they missed this chance and took the easy way out.

  6. Cynthia says:

    Krugman accepts that a wider public that are not economists read his blog and column and he writes in an accessible way. When he writes very technical stuff he warns you in the title with a ‘Wonkish’ or ‘Boring’. And Krugman has a great sense of humor. In a previous blog post about The Coin he had a picture of the proposed coin with Dr Evil on it – pinky finger in mouth.

    Stewart on the other hand pretends he doesn’t have an intellectual following whenever he’s called out on not being informed on an issue but plowing ahead and commenting on it regardless. I think in this situation Stewart is the 13 year old girl (@Anonymous Jones).

    Krugman even gave Stewart and TDS a nod to the fact that normally they do their homework and this was an anomaly. And no one seems to want to point out, including TDS, that Jonathan Chait of NY Magazine and Ryan Cooper of Washington Monthly both wrote articles about Stewart’s errors on the 11th and Krugman referenced them in his blog post on the 12th.

    Also, Stewart said initially that The Coin was to ‘pay the debt’, which is completely incorrect. He also incorrectly said we have to restore the confidence in the dollar – the dollar is not suffering. The entire original piece was a display of just how little Stewart and the TDS know about economics. Then their response to being called lazy was to reassert their laziness, which should not be applauded.

    And to anyone who thinks they know more about economics that Paul Krugman (@ByteMe), first of all, you don’t and second, Krugman routinely goes on news shows and sits in a reclined position with a look like he’s wondering if he needs to do laundry that day while roasting the opposing guest’s balls on a spit. Just search for ‘Krugman’ and ‘Newsnight’.