krugman won the nobel prize for economics in 2008 for his work on trade theory. in the past, he's criticized the bank of japan saying central bankerwereot doi enough to stop deflation. but now krugman is asking whether the country is headed in the right direction. >> how would you rate the new economy? >> the broad outline looks right. the idea that japan should have a short-term, fiscal stimulus to get the economy moving coupled with a change in monetary policy designed to accommodate that fiscal stimulus translated into a higher rate of inflation, to a positive inflation of a couple percent at least a year and thereby sustain the effect. that's pretty much what the doctor ordered, i guess i would say. i think hing is the signal is being sent. people are hearing the signal that this time the boj won't do what it's done several times before, which is just as the economy is starting to recover, it will pull back. thcrucl thg is not what the boj does in this moment but what people expect it will do when inflation actually starts to accelerate. will the boj be willi

paul krugman's argument is let's not worry about it now.ry about it in 2020 at which point the debt will be 20, $25 trillion, who knows? and then your children and your children and our children, even, are going to have to pay for this. >> and people in their 40s and 50s will not get medicare. they will not get social security in the current state. if we take care of it now, if we're responsible now, then we'll be fine later on. >> i look at my kids who are in their early 20s and i think to myself, my kids are going to have to pay for this debt, my medicare, my social security, all the stuff we're racking up right now. do you know the average medicare person who is about at retirement age pays something like $85,000 or $87,000 into the system, receive $650,000 of lifetime benefits. >> so jane, let me read from tom rogers' op-ed. "paul krugman may find this difficult to believe, but i very much accept the proposition that unemployment remains the economy's biggest issue and that we need to smartly target short-term stimulus and a real plan f

my conversation with paul krugman is ahead.atter now and why the government needs to spend more money. he ran two of the most important companies and turned around general motors. i will talk les sobs learned, the state of the american future. and baubles and bling. if you have the cash they have the jewels. if perfect valentine's gift for deep pockets. jewels anyone? >> co oh co always wore two. >> "on the money" begins now. >> announcer: this is america's number one financial news program. "on the money." now, mario bartiromo. >> here's a look at the news as we head into a new week on the money. it is the u.s. government versus standard & poor's. the most aggressive move yet to hold accountable a company at the center of the financial melt down of 2008. the $5 billion civil suit charges s&p intended to defraud investors by giving securities created from subprime loans aaa ratings they didn't deserve. the attorney says not so fast. >> the government has to show in this case not that a lot of people lost money because of the in

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professor krugman, you know what i do, i take notes. i'm going to be over here taking notes. i want to get your reaction to what the president said today about his eagerness for a big deal with republicans and what are the possibilities there? >> well, okay. i believe there is no possibility. >> exactly what i thought. >> and i hope that that is his plan, to sound reasonable and say, i'm ready -- >> he's done that in the past. >> that's right. >> done that thing, hey, i'm ready to do business, knowing that the nuts wouldn't do business. >> well, here's a question. sometimes in 2011 i'm afraid he was actually sincere and he had us all terrified. but right now i do believe, i hope but i believe it's political posturing, that this is his way of saying, i'm a grownup. the reality is that we should do nothing. the best thing to do right now is to kick the can down the road. we should not be having any spending cuts right now. close loop tax loopholes, fine, if we can do it. but the sequester is not serving any loophole purpose. >> with these cuts written into law, what happens --

we have a great panel, paul krugman, mort zuckerman, arianna huffington, and ed connor. >>> then something special. an exclusive interview with the richest man in india, the second richest man in all of asia. why he's bullish on america. it was the first time television cameras were ever allowed in his extraordinary mansion in the sky. >>> then, everyone is worried about the arab spring. i talked to the leaders of five arab governments to get some answers. and a fascinating internal power struggle in iran and what it means. but first here's "my take." one of the great political debates in washington and around the country has been whether barack obama is a highly partisan democrat bent on lib ram agenda or a centrist searching for compromise. it's still early in his second term, but he's recently made moves that seem to answer the question. obama could easily choose a partisan strategy that would be politically effective. don't make deals with the republicans on immigration or entitlement reform and go into the 2014 congressional elections with those problems still alive. with no deal, dem

. >>> our big yet tomorrow is paul krugman who will join me next.hat's why i'm wearing the glasses. it makes me look smart. i'm talking like noble prize winners. >>> and it turns out, begging works. you don't have to take my word for it. lynn marie sager posted on our facebook page, your begging worked. i have liked you for years but only just now clicked the button. that's right. i begged last night for people to "like" us on facebook. blessings white said, laurnls, you did not need to beg. we truly like your show. tomorrow just give folks a gentle reminder. three do it. see, that's what my team thought, is that you've been liking the show but overlooking the social media liking of the show and asked me to beg and so i begged. barbara adams said, couldn't "like" last night but gotcha this a.m. there you go. you can do it any time. dave said, well, i would "like" you tonight lawrence but i did ages ago. thank you dave and everybody else and it's night two of desperate begging to be "liked" on facebook. ♪ ♪ ♪ ♪ [ male announcer ] the next wave of ita

do not forget to catch chris and paul krugman this weekend.tomorrow and every weekend and sundays with host at 8:00 a.m. eastern. chris hayes, thank you, as always, and thanks to the rest of our panel. franklin, carrie, and hans. that is all for now. i'll see you back here monday at noon eastern, 9:00 a.m. pacific when i'm joined by ari, jonathan, jake, and lee gallagher. if you are snowed in or not, i'll be doing my best impression of lawrence o'donnell tonight when i guest host "the last word" at 10:00 p.m. eastern. p andrea mitchell reports is next. hey, our salads. [ bop ] [ bop ] [ bop ] you can do that all you want, i don't like v8 juice. [ male announcer ] how about v8 v-fusion. a full serving of vegetables, a full serving of fruit. but what you taste is the fruit. so even you... could've had a v8. >> this is -- stay off the roads. stay home. let the public works crews do their job over the next

my conversation with outspoken economist paul krugman is ahead. why this nobel prize winner says the deficit doesn't matter now and why the government needs to spend even more money. >>> he ran two of the nation's largest and most important companies and turned around general motors. i'll talk lessons learned, the state of american business and the future with ed whitacre. >>> and bling, if you've got the cash, they've got the jewels. the perfect valentine's day gift if you have deep pockets. jewels, anyone? "on the money" begins right now. >> this is america's number one financial news program, "on the money." now, maria bartiromo. >> here's what's making news as we head into a new week "on the money." it is the u.s. government versus standard & poor's. the most aggressive move yet by the justice department to hold accountable a financial company at the center of the financial melt down of 2008. the $5 billion civil suit charges s&p intended to defraud investors, aaa ratings they did not deserve. standard & poor's' attorney says not so farst fast

politics and super bowl predictions on our powerhouse roundtable with nobel prize winning economist paul krugman of "the new york times" and ceo carly fiorina and jorge ramos of univision, lou barletta and abc's matthew dowd. >>> hello again. president obama says that our headliner has the toughest job in washington. top republicans claim he makes it harder than he needs to be and no single senator will have more influence over the president's agenda than harry reid who we met for this exclusive interview. he was feisty and confident. especially on this week's top issue, immigration reform. >> it has to get done. we have to work hard to get it done. it's really easy to write principles, to write legislation, much harder and once we write the legislation we have to get it passed but i think things are looking really good. looking good for a number of reason, the right thing to do and number two, the republicans can no longer stop this. they've tried it and it hasn't worked. what they tried to do to me a couple of years ago, look what they tried to do with the president just this last time and it

here with paul krugman.re of recovery that i think are vexing and particularly difficult to work out why they're happening. one is this cash hoarding. you have march 2002 both corporate cash flow and investments were about $700 billion each. by march 2012 it was at 1.2 trillion. capital investments were around $1 trillion and overall have about 1.9 trillion dollars sitting on their balance sheet. apple has had this bizarre kind of like crisis of having too much cash where their shareholders are telling them you have all this cash, what is the deal? we don't even know how to price this over a certain window of time. why is there so much money sitting on the sideline? >> okay. so we don't actually know the answer. one thing that is striking is if you think that it's because companies are refusing to invest, that doesn't really fit the facts. business investment, corporate investment, it's not as strong as its was at the peek of the last boom or as strong as it was in the clinton years. corporate investing. if

>> you bring up krugman.ouldn't tackle it for a very long time. >> is 2025 an option for most of the people that you -- >> probably not. >> probably not? >> the problem is that confidence in the markets doesn't evaporate in years or months. it evaporates in weeks and days and minutes. >> doesn't it evaporate when you lose confidence in washington? >> there's going to be a moment, and we don't know when the moment is. there will be a moment where somebody's going to wake up one morning and decide this is not cool anymore. you're going to tefeel it in th markets. >> that will happen well before 2025. >> well before. >> this is the thing. this is what makes it so hard for people. for the last ten years, people have been saying, wow, if we keep running these deficits and have this level of debt -- and i'm with you on the need to deal with entitlements. this is the hard thing. for the last ten years, people have been saying, well, eventually people are going to stop, the bond rates are going to spike, interest rat

last week we had paul krugman on.terview. >> so did he. >> no, i mean, he's written, like, three blogs about it. finally, telling the deficit hawks to calm down, he got it in the end which i guess was an interesting week for him. let's talk about economic reality here, okay? the president's talking about revenue. and i think republicans should just give on closing it. because you heard him talking about cuts, sensible cuts, as if the cuts are a small part of the pie. the cuts are the big part of the pie in long-term debt, and democrats still don't want to talk about it. they still don't want to put a budget out. the president still doesn't want to tell the truth about medicare. he still doesn't want to tell the truth about medicaid, about social security. i mean, this isn't a small part of saving america. lowering spending over the next generation is a huge part of saving america. >> look, one of the tragedies of what's been going on down there is we have been cutting but we've been cutting indiscriminately. we've bee

a lot to cover and paul krugman, i want to come to you. the dow hit 14,000. >> right. >> on friday. just a torrid january. five straight weeks of gains, this comes on top of some encouraging news on jobs. >> right. >> some encouraging news on housing and manufacturing, and i was struck by a line in "the washington post" that said "the biggest threat now to the recovery may be washington, d.c." >> that's been true all along. what we've actually been seeing is -- let me put it this way, we've seen falling government, spending particularly, spending, purchases are good, services and government -- an unprecedented decline in that that's the biggest threat to the recovery. >> and caused slippage in the fourth quarter. >> partly statistical illusion but partly defense spending which for some reason had a big negative blip. i've been doing a study of this. if spending had grown in this business cycle the way it did in the last one under bush or under reagan, we would probably have an unemployment rate that was not much above 6% right now so it's this washington craziness and, of course, th

. >>> new york times columnist paul krugman said that the current fight over guns has revealed the nraa quote insane organization. some pro-gun advocates this vision of leading in a mad mex movie. >>> an advertisement during the super bowl calling for background checks for all gun sales using the nra's own words against them. president obama will soon be moving to a new oval office, while the west wing is renovated. the temporary office is in the eisenhower executive office right next door. >>> new jersey chris christie is getting ready for his first late-night tv appearance with david letterman. >>> and that is your morning dish of "scrambled politics." >>> all right, now for a look at monday's weather. here's meteorologist bill karins. >> good morning. >> oh boy, tell a lot of people are going to be tired after that super bowl last night. >> including yourself. >> good morning, everyone. if you're up and at em after that late night, we're watching cold air and coming down. the cold air has been locked in the same areas while the west is enjoying beautiful conditions. texas to the gul

that is why paul krugman is right. you get in to the downward spiral and drag the country back into recession. we need a jobs program. i have a lot of ideas on how you can do it. we need a strategy to promote innovation, started businesses coming keep the manufacturing sector expanding combat repatriate and bring back investment in america, money that is the overseas. i personally would favor letting a lot of that money be brought back if a certain percentage was investing in an infrastructure bank in america. [applause] the rate of return on the infrastructure is so high, including i.t. infrastructure, you could sell the investments like you would bonds. i will give you 6% tax-free rate of return if you invest here. if you could get some of that repatriated money invested, a lot of pension funds would invest, looking for higher returns than they can get in any conventional bond issue, but have to have solid guaranteed returns. i think we could do a lot of this stuff, but you need a program to do this. i remember i did

next week, paul krugman will be here. keep it right here where we are, on the money. have a great

ul krugman ishas coconvinced a lot of my liberal friends that is okay to kick the can down the road.. >>>> he actually used those words. >> terrible idea. it courts all sorts of disasters. cited interest rate spikes -- it could haen overnight. it takes a long time to fix these problems. we have got to start on it now. sequestration is a cde, ugly tool. but if it has the effect of making people serious about entitlement and tax reforms, it would not be so bad. >> colby, what do you think?k? >> going back to charles' column, he says that this the first timeme since the election that presint obama has been put on defense. i don't think that is true. i agreree with m mark the republicans will bear the brunt of it ininitially, because they would be the obstructionists. looking at it and share political terms -- this h has cooool implications. -- global implications. >> nina, you think the american people are getting fed up with this? it has been going on for years. >> and more and more, worse and worse. just, for example, , and infrastructure, which we will talk about later, but you had a

. >> paul krugman has convinced a lot of my liberal friends that it is okay to kick this down the road. >> he actually used those words. >> terrible ide courts all kinds of disasters. sounded -- the interest rate spikes. it takes a long time to fix these problems. sequestration is a crude, ugly tool, but if it had the effect of making people get serious about entitlement reform, it would not be so bad. >> colby, what do you think? >> going back to charles' column, he says that it is the first time since the election the president obama has been on the defense. i don't think that is true. i agree with mark on this, that republicans will bear the brunt of this initially because they are seen as the obstructionists. looking at it in sheer political terms, this as global implications for the u.s. economy tanking as a result of this. >> you think the american people are getting fed up with this? this has been going on for years. >> and worse and worse, so that there is no planning. you have a five-year transportation bill, then a two-year transportation bill, then and nothing transportation

krugman was referring to the ideas in washington on how to restore the economy that are provable wrong, but still trotted out regularly as being the way to proceed. in san francisco we have our own central subway zombie idea. if we bore two tunnels past the last station the subway gods will look favorably on this and some day award us with an extension to northern beach and francis fisherman's wharf. a total of $80 to 90 million are needed to keep this idea alive. there may be more time and funds required in the near future. businesses adjacent to the pagoda will need to be compensated for losses and there is a strong likelihood there would be serious problems caused by water flows under the pagoda site as pointed out in the repeat geotechnical report by mr. carp. where will mta get the additional $5-10 million or more to resolve these problems? an earlier central subway plan had a reasonable idea. bury or extract the tbms at the chinatown station site. i encourage the city and mta to revert to thechinatown extraction reasonable idea and let the northern beach tunnels zombie idea final

i learned that, let's see, wayne lapierre is extreme on guns and paul krugman is extreme on debt. they sort of occupy their own alternative universeses and the question is whether the republicans are going to have the guts to stand up to lapierre and whether democrats will be strong enough to walk away from krugman. but we'll see what happens. if it's way too early, what time is it? >> it's time for "morning joe". >> tell us. >> it's time for "morning joe," but now it's time for "the daily rundown" with chuck todd. have a great day. happy valentine's day! >>> the posturing around chuck hagel's nomination for a defense secretary, well, it's getting murkier by the minute. are republicans gearing up to deny an up or down vote for the pentagon kick before the weekend? >>> president obama's road show policy push hits atlanta today and we'll take a deep dive into the options and odds of the president having to fall back on executive actions, because his policies won't go anywhere in congress. >>> and the republican ruckus over karl rove's conservative counter-strategy is reaching a bit

paul krugman writes about this, stop embracing the notion of deficit reduction. now there are others who make this point all the time. you have got people pushing him to talk about deficit reduction. if you look at sunday morning talk shows, and i am not talking about the right. i am talking about democrats and folks on the left who are saying he has to agree to some entitlement cut spending. turn on the tv, and folks on the left are saying when the politics are concerned, he has to agree to entitlement cuts. tell me why they are not hard. >> you are right. >> back it up and understand there are millionaires who have spent hundreds of millions of dollars to create this type of culture that says we are going to have to cut social security, medicare, and medicaid. that is what they have been promoted for years, and it is true there are democrats who are more into that, but i am saying if you look at poll after poll, and the american people have not bought into that. sunday talk shows, yes. the average american, no. the average american understand people on top, lar

my conversation with outspoken economist paul krugman is ahead. why this nobel prize winner says the deficit doesn't matter now and why the government needs to spend even more money. >>> he ran two of the nation's largest and most important companies and turned around general motors. i'll talk lessons learned, the state of american business and the future with ed whitacre. >>> and bling, if you've got the cash, they've got the jewels. the perfect valentine's day gift if you have deep pockets. jewels, anyone? "on the money" begins right now. >> this is america's number one financial news program, "on the money." now, maria bartiromo. >> here's what's making news as we head into a new week "on the money." it is the u.s. government versus standard & poor's. the most aggressive move yet by the justice department to hold accountable a financial company at the center of the financial melt down of 2008. the $5 billion civil suit charges s&p intended to defraud investors, aaa ratings they did not deserve. standard & poor's' attorney says not so farst fast

economics professor and unapologetic liberal paul krugman says the u.s.nomic growth come back before even thinking about spending cuts. >> the power of the household analogy is very strong. remember, we all -- the liberal leeng congress made fun of boehner when he said families have to tighten their belts, the government does, too. that's stupid. three months later, obama was saying the same thing. >> the difference is, america owes itself, right? when you look at who owns our debt, we own our debt. >> yeah. some of it is overseas. the main thing is that the debt's in dollars. we can't run out of cash. we print the stuff. >> right. >> and greece, the crucial thing is not so much that the debt is owned by non-greece as that the debt is in euros. that gives them way less flexibility. if you take a country like us, to me it's even hard to tell the story. you say, you know, supposed that we have a run on -- supposed that foreigners decide we're not reliable. how does that drive up interest rates? the fed controls short-term interest rates. long-term interest

my guests next week, paul krugman will be here.h week keep it right here where we are "on the money." have a great week, everybody. i'll see you next weekend.

paul krugman's book "end in depression now" is now out in paperback. he's joining us now to talk more about it. thank you for joining us. let's start with the debt and deficit since this is front and center as far as the international conversation as it may be. the cbo, congressional budget office, came out with new projections this week. they saw, long term, the economy will move in the opposite direction of the deficit. the economy grows if the deficit goes down, it shrinks if the deficit goes up. you argue in the book that the deficit really doesn't matter right now. do you disagree with the government's projections? >> no, i think the cbo report is pretty reasonable. and it says that we wish we had lower debt, and if we look at the long term it would be nice to pay down the debt but it does not show a crisis. and trying to slash the deficit right now will deepen the clear and present danger which is a very high unemployment and ongoing economic slump. so i actually -- i found the cbo report supportive of what i'm saying, that right now our prioriti

my guests next week, paul krugman will be here.h week keep it right here where we are "on the money." have a great week, everybody. i'll see you next weekend. >> this is "the chris matthews show" -- >> ask not what your country can do for you. >> tear down this wall. chris: taking it to the street. barack obama is going to town on -- and taking a page from ronald reagan's second term. and for a man called the great communicator it was historic tax reform. for obama, real steps toward gun safety. and the hegel hearing reminded some of the first debate. and finally, super bowl sunday. i've got some new rules. i'm -- i'm chris matthews. welcome to the show. with us today, howard fineman, the bbc's katrina, annie lowrey and michael duffy. first up, barack obama sees a path to history on guns and immigration at this point two weeks into his second term. this is when he's strongest and he's taking his case to the country over the heads of washington. in rean'