We just read that Paul Krugman (a self-proclaimed Nobel Laureate economist) claims that economic growth and job creation have actually increased during the Obama administration.
First, Paul Krugman never won a Nobel Prize for ANYTHING.
There are only five Nobel Prizes;
- Physics,
- Chemistry,
- Medicine,
- Literature and
- Peace:
There’s no such thing as a Nobel Prize for “Economics”.
The prize that is so often falsely referred to as a Nobel Prize is actually the “Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel”. It’s also referred to as the “Bank of Sweden Prize” for short.
So what? Who cares?
Peter Nobel, said; “The Economics Prize has nestled itself in and is awarded as if it were a Nobel Prize. But it’s simply a PR coup by economists to improve their reputation.”
But who is Peter Nobel?
According to Wikipedia;
Peter Nobel (born 1931) is a Swedish human rights lawyer and a member of the Nobel family, who served as Sweden’s first Ombudsman for discrimination (1986–1991), Secretary General of the Swedish Red Cross (1991–94), and an expert for the UN Committee on the Elimination of Racial Discrimination (1998–2001). He is a co-founder of the Nobel Charitable Trust.
Peter Nobel is a descendant of the industrialist and humanitarian Ludvig Nobel, the founder of Branobel.
Like several other members of his family, among them Marta Helena Nobel-Oleinikoff, he is a fierce critic of the Bank of Sweden’s prize in Economics, and what he and his family sees as misuse of their family name by the awarding institution. He argues that no member of the Nobel family has ever had the intention of creating a prize in economics.
In other words, Krugman’s claim as a Nobel Prize Winner are just poppycock.
(I’d use another word to describe Krugman’s claims, but this is, after all, a family show.)
It’s important to know who we’re dealing with, when such lofty claims are made.
Thus revealed, one must wonder just what Krugman has been smoking. Maybe it’s the “special brownies” he ate during all those Christmas parties he attended.
Krugman is nothing more than a partisan politician masquerading as an economist.
The true economic facts plaguing the United States are easy to see;
We’re more than 18 Trillion dollars in debt in the midst of an administration that has “spent, spent, spent” faster than any administration in the history of the United States. To say the the deficit has grown is like saying “the Titanic sprang a slight leak”.
And, to increase the fiscal carnage, Obama added yet another unfunded entitlement, (call it what you want) ACA (or as we all know it) “Obamacare”.
Krugman goes on to brag about job creation, while he uses slight of hand to drop 8 to 10 million workers from the employment rolls in order to make the numbers look palatable.
Krugman is an empty-headed non-economist who has his nose firmly planted in the posterior of his leash-holder.
Obama has had very little to nothing to do with promoting economic increases except in the areas of “stimulation”. If the Fed had not pumped “free” money into the market the whole thing would have gone up in flames.
What we’re actually seeing is “creative accounting” and “smoke and mirrors”. If a business had operated like this, the stockholders would have thrown the bums out and started with a new boardroom.
What we’re really looking at is a carefully masked Titanic, one where another depression should/could be the natural result of the radical socialism that defines this administration. The only thing slowing the trainwreck down is the crippled and enemic self-sustaining nature of our capitalistic system.
The National Debt has exceeded 18 trillion now. Many people ARE back at work. However, in the majority they are making 50% or less than they use to make. You have to ask yourself WHY this is. The answer is that the administration has made it clear that it is declaring war on “big business”. Thus, no high paying jobs are being created.
Foreign workers, legal or illegal are abundant to work at cheaper wages. Obama’s legacy will be that he not only eliminated high paying jobs, he flooded the marketplace with immigrants to fight for the low-paying jobs that remained.
Pass the bucket. We’re taking on water.
The Bubba Effect 