i have an audition. >>> and we are back with economist paul krugman and ken rogoff. so your prescription to president bvobama, i take it is run on investment. run on the idea that you're going to borrow more, spend more, that that is what the economy needs right now, not worries about the deficit. >> yeah. and i think in a way, we may -- we may be approaching a somewhat advantageous position authorize that. i think it would have been the right thing to do all along, but there are signs that private demand is starting to get some traction. you know, for one thing, we've had our housing bust has gone on so long, that we appear to be underhoused. we're short on units. people can't afford them because there's no jobs. but if we had higher employment, you could imagine a reinforcing cycle of growth, but it won't happen if we're pursuing austerity and thwarting any recovery whereas right now is about the time or next year when a push could be the thing that tips us into a self-sustaining recovery. >> what would you advise mitt romney -- i don't know if you are advising --

and that being what's important well well first of all i don't know what numbers paul krugman is looking at because even though the g.d.p. is growing the debt is growing faster as a percentage. that was c.e.o. and chief global strategist of euro pacific capital peter schiff unfortunately we have to end it there but there's a lot more from my interview with peter including his outlook for gold that will be posting on to our capital account you tube channel tomorrow so be on the lookout for that. and that's our show thanks for tuning in feel free to follow me covering delta and as always the lovely laura lister who is in davos lauren lyster and give us feedback add to our show our channel a new piece of work now i'm going to get from everyone here in capital account of a good night. headlines from all t. a must march in poland as the country signs up to a global pact to take down into that piracy it covers everything from movies and music to fashion pharmaceuticals the deal will get big corporations too much power to take web users offline. to run friends to cut off its oil supply to europ

and that being what's important well well first of all i don't know what numbers paul krugman is looking at because even though the g.d.p. is growing the debt is growing faster as a percentage. that was c.e.o. and chief global strategist of euro pacific capital peter schiff unfortunately we have to end it there but there's a lot more from my interview with peter including his outlook for gold that will be posting on to our capital account you tube channel tomorrow so be on the lookout for that. and that's our show thanks for tuning in feel free to call me at covering delta and as always the lovely laura lister who is in davos lauren lyster and give us feedback at our show our channel and you can have a workout i'm going to get from everyone here in capital account of a good night. one year down the line in egypt is celebrating the beginning of the revolution that ousted president mubarak tens of thousands of people are now on top where but frustration over the slow pace of change has cast a cloud over the party atmosphere meanwhile the army has partially lifted an insurance emergency law

now, i'm not quite as extreme in my views as paul krugman.k that the cuts in the military that you talked about earlier in the show, the probable extinguishment of the bush tax cuts, which will help resolve some of the budget deficits, are an important way to begin showing fiscal responsibility in this country. last time we showed fiscal responsibility in this country, martin, was during the second clinton administration, and our economy took off. so i think some modicum of fiscal responsibility will be a boon to this economy. >> here's the problem, bill, i was in europe over the christmas holiday, and the uk, for example, is looking as though it's going to fall into recession again. and that government has chosen the path that virtually every single republican presidential candidate wishes to pursue -- austerit austerity. and guess what, the economy's dipping. why aren't these people looking at that and saying, hang on a second, there's the experiment. there's your hypothesis, it's not working. >> there's the petri dish. and i think the obam

will be determined by what happens in the american economy, and to talk about that i am joined by paul krugmanf the "new york times" and princeton university and ken rogoff of harvard university. let me begin, paul, by asking you about a column you wrote in which you talked about mitt romney and bain capital and the fact that he had not created a lot of jobs. he had destroyed them. it struck me that it was somewhat unfair because bain capital seems to be, of all the private equity companies, not one of these companies that loads on a lot of debt on its other companies it takes. it often acts as an early stage investor, almost more like a venture capital company. steve ratner was a democrat, worked for obama, says that actually if you look at bain capital's record, it's quite remarkable. it's mostly about having spotted successful companies and steered them well. >> pi it's actually wrong to think about bain as having created or destroyed jobs. on balance, it led to the destruction of relatively good jobs, and replaced them with jobs that are worse. no different -- this is what private equity h

here with us in the studios, paul krugman, peggy noonan and abc's jon karl. george, let me begin with you. that big debate on free enterprise and fairness coming up. but first mitt romney in south carolina, polls show a pretty close race, even though social conservatives are now rallying behind rick santorum. it seems like romney is helped by a split opposition. >> he has. the republicans haven't had a really protracted nominating contest since 1976. when the reagan/gerald ford went all of the way to the kansas city convention. we have had the two first nominating events in iowa and new hampshire, which are swing states. south carolina is solidly republican. rick perry is a veteran on this campaigning. newt gingrich is from next door in georgia. rick santorum is an evangelical christian. campaigning now in a state where 60% of the republican vote. still, and still, it looks as though, mitt romney may survive and survive, he may even win. win or come in a close second. they go on right away to florida. a very expensive state to campaign in. it's very possible

people like paul krugman have been trying to get us to realize how well has been so concentrated in such a small group of folks. what strategies could be used to attack this minority of individuals in a way that foundations and charities did in the past? if we had a few

for example, some of them, paul krugman, frank rich, jonathan alter. they must be smart or at least did well on the sat test because we all went to very good colleges and yet they seem so stupid. and that is explained as crowd psychology. that people in a crowd lose some of their intelligence, no matter how educated or. they will grasp onto conspiracy. they will grasp the size, turn the component into any. this is mob psychology part. beautifully describe liberals and not in a way i think you can rent say the same thing about conservatives. that's all i will say about the book right now because you all are getting a copy tonight. but i would love to take questions. because they don't need prepared remarks. [inaudible] [laughter] >> actually i love the view. i've been on four times. i have been lovely comedic with a great time every time except one. that was the penultimate time when they all yelled at me. i would have to wait for a loss and outgoing time barbara walters is on the show. so by process of elimination i think the rest of them are lovely gi

myself something of an expert on liberals with the few things that always confused me for it civil paul krugman, frank rich, jonathan alter, they must be spared or a least they did well on their s.a.t. test because they all went to very good colleges and yet they seem so stupid. [laughter] in the that is explained as proud psychology. they think people in a crowd will lose some of their intelligence no matter how the conspiracies they will turn their components into enemies to adjust every point of the group think. this is the psychology part. beautifully described the liberals and not in a way that i think you can turn around and say the same thing about conservatives. that is all i will say about the book right now because you were all getting a copy tonight. but i would love to take questions because then i don't need prepared remarks. [laughter] actually i love the view. i've been on four times. we have a great time every time except one when they all yelled at me and i'd have to wait for a pause to get something out and that was the only time barbara walters was on the show. by the process

discussion with peter on the fed the state of the union as well as a recent claim by columnist paul krugman that we may be headed ever so slowly towards recovery but first for closing market numbers. the big. wealthy british scientists are. right on. the. market. come to. find out what's really happening to the global economy with mike stronger for a no holds barred look at the global financial headlines kaiser reports. for the. science technology innovation all the latest developments from around russia we've got the future covered. welcome back in this second part of my interview with peter i ask is the american economy recovering even with the fed stepping away given that we've been on life support for so long. so what do you see is the endgame here or the the strategy for the federal reserve because normally if we compare this we've heard a lot of comparisons one is that the economy went to in effect of li intensive care after the two thousand a financial crisis and if you're in i.c.u. as a patient the ventral go to the doctors to get you out of i.c.u. and they get you home but the way

discussion with peter on the fed the state of the union as well as a recent claim by economist paul krugman that we may be headed ever so slowly through his recovery the first or closing market numbers. in the midst. of people calling like you said for free and fair elections. and we're still reporting from there it's about clinton if you can hear behind me loud explosions i think. we. have you. got he gave. right right i mean it's like a derivative of actual pepper it's a food product essentially. i this is much stronger than anything it's bio absolutely thousands of times i'm stronger than any one of the. people calling like you said for free and fair elections. and we're still reporting from the land where you can hear behind me loud explosions. i mean. i get it gave me. a. welcome back in this second part of my interview with peter is the american economy recovering even with the fed stepping away given that we've been on life support for so long. so what do you see is the endgame here or the strategy for the federal reserve because normally if we compare this we've heard a lot of compa

would be less wouldn't that stabilizer mean yes it's you know take almost any keynesian economy paul krugman being the most obvious which say just what you've said increase the expenditures invest more you will get more tax receipts later on to pay for this and you can run deficits and you could have a highly performing economy the. i'm is politically i'm from a nationalizing the commons you are talking about that and and indeed that way would work but i think the politics of that i think is over the koch brothers won't have anything to do with not only the koch brothers they will have a play but one of the things and again working in the house and senate. that policy that set of policies really depended upon a liberal progressive coalition and that depended upon a strong labor movement and labor movement is gone from about thirty four percent of the labor force being organized it's now at eleven percent and about six percent the private sector and declining so the base of power for that way of solving the problem sadly i think is over so there's either another way forward over the long haul

mark levin said it last night, trillion isn't enough, spend two paul krugman says spend four.cipe for disaster. >> it's going to work in america >>. [ talking over each other ] >> you watch too many movies. >> capitalism can only work in america if we recognize that in the modern era private sector can never employ everybody. >> therefore, you have to have public works. >> obama has accumulated $5 trillion in debt. wait a minute we've lost millions of jorbs jobs since he has been president. excuse me. >> you start two wars. i start third one i would take the iranian facilities out. >> how are we going to pay for that dropping taxes? >> don't pay for healthcare, don't pay for things swee we don't have a modern day holocaust. all you want to do is make sure that wealthy people don't have to pay more taxes. >> you know what, i know it's not your audience but the rest of america, they irritated the rest of america right now. >> sean: check in regretted that wait, wait, wait, greta, what is on the record. >> greta: i'm exhausted from that. i'm going to be gracious. it's not easy. b

paul krugman points out obama's auto loan just by it self saved a lot more jobs than apple's u.s. employment. since june of 2009 the american automobile industry added back more than 170,000 jobs, almost four times more than u.s. employees apple has in the country. so for mitch daniels to say steve jobs created more american jobs than president obama is mathematically incorrect "psycho talk." >>> i want to help the 99%. >>> mitt romney is looking out for the 99%. except when he is chopping them down. >> you're wrong. >> the number one man at fox news i ready to pull the plug on mitt. le sam stein of the huffington post is here. >>> newt gingrich is now wearing his marital past as a badge of honor. >> may make me are no normal than --. >> alan grayson will respond. >>> wisconsin roars back in the headlines. their big surprises in the new polling and new fundraising totals for scott walker state senator lena taylor is here. >>> welcome back to "the ed show" thanks for watching tonight. things are heating up in florida with the latest cnn time poll showing mitt romney and newt nt gin

paul krugman had an article in "the new york times" pointing out, okay, let's forget about mitt romney. let's just talk about what's wrong with the tax system that allows somebody like him to pay only 15%. so everything he's been doing in the last week has just as charles krauthammer said, been playing into the democratic narrative. >> now, professor perry, when you look at what the gop candidates for president are saying that they want to do, this is their policies for the 1%. tax cuts for the wealthiest americans. new tax cuts for corporations. support ending medicare as we know it. support cutting social security. oppose the buffett rule. i mean, this is going to unite americans? this is going to really make everyone have an even playing field? we don't expect equal results, but we expect fairness and an even playing field and equal opportunity. >> well, look. here was the fantasy world that mitt romney was living in last night when he was suggesting that these kinds of policies, deregulation, tax cuts. what he said is when companies are more prfofitable, then they will create jobs.

paul krugman had a nice remark in may 2005 column. what does the american economy do?it borrows money from china and build bigger houses. that is not a formula for economic growth in the future. we have $2.2 trillion worth of infrastructure to rebuild and savings of money would be a good base to put that to good use. >> is important you are distinguishing savings at the household level rather than savings at the aggregate macroeconomy. plays a different role for a household been using it to finance and make investments in the broader economy. okay, right here. is the mic on? >> my name is henry cole. i publish a blog called eco-squared. it deals with the similarities and differences between our human economies and those of nature which our ecosystems. and i really like your idea of the president consumption tax but there is one thing that i think you need to talk about which is what happens to this collective savings? we know that huge amounts of pension funds and savings went down the drain in 2008. we also know that a lot of money is being sucked out of communities t

well, pulitzer prize winning economist paul krugman, chris, says this. he reminds us with this number here that it is higher, according to him, those losses, do not include the recent uptick and before they do not include obama's stimulus and programs before they took effect. >> it is also worth mentioning if people saw the front page of the "new york times" manufacturing jobs are up, too. we haven't had two straight years of that since i think 1978-1979. so people said look at manufacturing. look at construction to see if the economy is on the way back. so this is sure to be, charles, a big topic. >> right. >> at the debates this weekend. >> right. >> what are you looking for? i for one cannot wait. >> right. i think first on the economic side i would expect to see someone pick up on the idea of switching the focus of the economic trouble from jobs to debt. so, you know, we now have the national debt out pacing gdp for the first time since the 1940s. that is, if you can craft an argument around that you can make a strong argument and shift the focus awa

president is going to make. 200,000 jobs they are going to scream that from the rooftops even though paul krugmany quote, 300,000 jobs to get the economy where it needs to be going. but still he can claim success. >> it's dealing with messaging. it's dealing with messaging and perception is reality. liberals, democrats are very good at messaging. it all depends on that. >> a real good job of communicating with a not being happy we're moving in the right direction. republicans still need to pay more attention to that. >> wait, reaction from conservative leaders looking at a shift in the unemployment figures is moving in right direction but it's not been positive. it's almost like you have people who are going for failure. >> heather: last comment on that topic. you mentioned that president obama and men running against him with michele bachmann ending her campaign the race for the white house has turned into an all male contest again. plenty of other countries they have elected a woman leader. why not the u.s.? what is the problem here? andrea, let's start with you? >> it's a great question. i thi

harold meyers ignore the president-elect to bring on the new new deal and paul krugman said it all in the title of his column franklin delano obama. my all-time favorite has to be this newsweek cover. as rick perry might say, groups. things didn't turn out this way. the easy answer to why that is the case is obama overspent. americans turned against a health-care bill and the tea party is brought about a resurgent american right to hold the rail his congressional majority. all this later role to be sure. but more fundamental question, if obama had reassembled and fdr like coalition he should have been able to overcome these forces. after all, you will recall or maybe you won't in fdr's presidency the democratic nominee 1920-1924 and 1928 all joined together to oppose his presidency by the 1934 midterms. there was a huge backlash in the democratic party elite and a lot of republicans and it did no good because the coalition he had assembled in 1932 was a strong one and his method of governing in 1932 from 1936 leads the majority of the country. .. country. obama didn't have a much shor

paul krugman got his nobel prize and did pioneering work in the ways in which there are increasing returnsite in "the times" article about apple that made this point. look, this was so fascinating about it. i thought "the times" piece, it actually isn't really the wages per se. the actual wages. the wage labor cost is a fairly small part of why manufacturing is located there. one of the aspects they said was if you need a gasket, if you need a thousand gaskets all of a sudden that's the factory 50 feet away. if you need to -- bunch of pipes if you need this or that, everything is there. it just is behemoth of industrial output. the -- >> location, location, location. >> exactly. this is what was interesting to me about this, two points. symbol versus substance. you have the symbol of the president -- essentially hijacking that narrative back of america's greatness when the jobs will come back to the united states. and the -- substantive reality of what apple actually is doing and that's the global economy, and their push for profit and some of the reasons listed in the article mean that. c

harold meyerson exhorted the president-elect to bring on the new deal while paul krugman said it allitle of his postelection column, franklin delano obama. by all-time favorite has to be this "newsweek" cover. [laughter] as rick perry might say, whoops. things didn't turn out this way. the easy answer to why that's the case is obama overspent. americans turned against the health care bill in the tea partiers brought about a resurgent american right that helped to build his congressional majority. although this played a role to be sure. but the more fundamental question, if obama had really assembled an fdr like coalition time he should've been able to overcome these forces. after all, you will recall or maybe you want an fdr's presidency, democratic nominees from 192819241928 had all joined together to oppose his presidency but in 1834 midterms. a huge backlash among the democratic party elite and a lot of republicans and it did no good because the coalition he dissembled in 1932 was a strong one and this method of governing in 1932 from 1936 please the majority of the country. obama

even paul krugman, who has been pessimistic, suggested there was some glimmer of life in a column yesterday. president obama did inherit the worst economy since the great depression. host: brad miller, thank you for talking to our viewers. coming up, we will turn our attention to the gop presidential primary in florida with a republican from that state, steve southerland. first, a news update. >> it is 8:35 a.m. eastern. republican presidential candidate mitt romney's tax records show he is paying $6.2 million in taxes on a total of $42.5 million of income over the years 2010 and 2011. it follows the requests from canids to provide more detail about mr. romney's wealth. it shows that he is among one of the top 1%. a white house senior adviser speaking hours after mitt romney put the campaign released a 2010 tax returns said president obama will outline a plan to make sure what the americans pay more in their -- his state of the union address. when asked about governor romney's text returns, he said it raises an important question also, in tonight's state of the union address, the president

harold meyerson exhorted the president-elect to bring on the new deal while paul krugman said it all the title of his postelection column, franklin delano obama. by all-time favorite has to be this "newsweek" cover. [laughter] as rick perry might say, whoops. things didn't turn out this way. the easy answer to why that's the case is obama overspent. americans turned against the health care bill in the tea partiers brought about a resurgent american right that helped to build his congressional majority. although this played a role to be sure. but the more fundamental question, if obama had really assembled an fdr like coalition time he should've been able to overcome these forces. after all, you will recall or maybe you want an fdr's presidency, democratic nominees from 192819241928 had all joined together to oppose his presidency but in 1834 midterms. a huge backlash among the democratic party elite and a lot of republicans and it did no good because the coalition he dissembled in 1932 was a strong one and this method of governing in 1932 from 1936 please the majority of the country.

early last week, paul krugman, the princeton professor and very, very liberal columnist of "the new yorkt doesn't mean anything. we owe it to ourselves. that $15 trillion that the government borrowed basically is money that it owes itself and the american people owe each other. two days later, that guy, ben bernanke comes out with a statement, we'll take over fannie and freddie. we can operate it. the treasury department owns fannie and freddie. fannie and freddie are in debt $179 billion. the only way the fed can take it over is to print the cash which, of course, would cause inflation. >> yeah, and devalue our dollar further. let's take a look, judge, this backs up what you're saying. here are the numbers and i'm going to read that outloud. a little bit far away. that's what the document looks like. in terms of money lost, fannie and freddie has $102.6 billion. this is what he went on to say and the bailouts cost $72 billion but this is what bernanke said. some actions have caused greater losses to be sustained by the fannie and freddies of the world. in the near term, might be in the

go on and on, harold meyerson exhorted the president-elect to bring on the new new deal while paul krugman said it all with the title. title of his column, franklin delano obama. my all time favorite has to be this week's "newsweek" cover. [laughter] as rick perry might say, oops. things didn't turn out this way. the easy answer to why that's the case is obama overspent, americans turned against his health care bill, and the tea partiers brought about a resurgent american right that helped derail his congressional majority. all this played a role, to be sure. but this begs a more fundamental question. if obama had really assembled an fdr-like coalition, he should have been able to overcome these forces. after all, you'll recall -- or maybe you won't -- in fdr's presidency the democratic nominees from 1920 and 1924 and 1928 had all joined together to oppose his presidency by the 1934 midterms. there was a huge backlash among, in the democratic party elites and a lot of republicans, and it did no good because the coalition he had assembled in 1932 buzz a strong one, and his method of governi

number two, you don't want to sound like a pussy like paul krugman whining about his hate mail.h, boohoo. no conservative's ever going to physically attack a conservative. it happens to conservative public figures all the time. so, yeah, it does change your behavior a little, but not most of the time. i have a bodyguard sitting there right now keeping an eye on you, by the way. [laughter] just kidding. >> host: what do you do your writing? >> guest: in my bed. >> host: longhand, computer? >> guest: oh, computer, computer, computer. in fact, i use my computer so much, you know, at the end when you're getting a copy at its back and you're writing in the changes toward the end, i don't know why, but the last two versions you're writing in this changes, i was so used to writing on my computer, and i had written a lot. i cut half of this book. this is half of what i wrote because i wanted in "demonic" i wanted to get it down to the really crucial parts. anyway, i'm writing my copy edits in if by hand, and i'm so used to spell check i'm expecting for it to automatically change on the