It is astonishing that the economist who can write…
Rising inequality has obvious economic costs: stagnant wages despite rising productivity, rising debt that makes us more vulnerable to financial crisis…. I also suspect that today’s Masters of the Universe are insecure about the nature of their success. We’re not talking captains of industry here, men who make stuff. We are, instead, talking about wheeler-dealers, men who push money around and get rich by skimming some off the top as it sloshes by. They may boast that they are job creators, the people who make the economy work, but are they really adding value?
…is also the same economist who perpetually advocates that the same Masters of the Universe who have monopoly control over the supply of currency and credit print money out of thin air to lend out at interest, which results in an upward transfer of wealth as the privileged class who receive the new currency first are able to spend it before the resultant increase in prices; who has advocated for this monetary inflation in part because the resultant price inflation reduces the real wages of workers by robbing them of their purchasing power; who has explicitly advocated that the Masters of the Universe print money to create a housing bubble to replace the dot-com bubble, which precipitated a financial crisis and exacerbated the very same persistently high unemployment and wealth inequality that he pretends to be so concerned about.
Simply stated, the Paul Krugman is a shill for the very same Masters of the Universe whose system he pretends so hard to be against in order to deceive the masses effectively into acquiescing to their own slavery. If you’ve ever wondered why I blog about him so much, this is why.