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paul krugman, "new york times." 2.5 million people.rs and applause ). >> stephen: welcome back, everybody. that's it for the report, folks. before we go, i am proud-- i am proud to introduce the newest member of the colbert nation, eli felix katsir. >> oh! >> stephen: son of my intern jay the intern, and his wife adina, my intern-in-law. ( laughter ) jay has always been there for me, except the last 24 hours, when he didn't show up for some reason. ( laughter ) probably the flu. well, welcome to the world, eli. and congratulations on earning the same salary as your father. ( laughter ) ( applause ) speak of which, jay, since this is your second baby i am promoting you to junior executive intern. it does not come with a salary bump but your business cards will be more impressive, or they would be if i gave you business cards. and remember, as soon as eli is old enough to carry a la at a, i captioning sponsored by comedy central captioned by media access group at wgbh access.wgbh.org - what? - lemon, i'm gonna be late for our meeting. i

that way i get to claim anything i want paul krugman. >> what the c.b.o.ave the guarantee of health insurance, there are a lot of people in america who are working extra hours, staying in full-time jobs, because they need the health insurance. there's parents of young children, there's older people, you know, who are 63, and not in good health but they're hanging on with those full-time jobs until they can get medicare. with the law in effect, a fair number-- some people-- will work shorter hours. some people will retire earlier. so the total number of hours will be reduced, voluntarily. people will choose to work less. no jobs lost. and actually the c.b.o. says in big-- they say right there. this is going to be voluntary choice. people will choose to work less. they made the mistake of saying this will be the equivalent of two million full-time jobs being removed. ( laughter ) but the next day, the director of the c.b.o. went on to say we are not talking about job losses. and in fact, i am-- this is a good thing. >> stephen: he had to say that, his job wa

paul krugman has said that huge amount of research done in the last 30 years has been the dark ages that is totally wrong and totally unfair so there are very dedicated intelligent people macroeconomists who are working on these problems and to take these seriously who are not blindfolded to understand all of these issues and to accuse them of being dark age economy is. the economy is complex. there are a lot more questions than answers. that's unfortunate but that's going to be true. public choice is important in understanding the limits of politics can help us choose optimal policies when we recognize that constrains. finally it's an excellent book. thank you very much. [applause] it's the notion that everyone should buy the book. >> it's important, i wrote about it a fair amount in my book the logic of life which is also a great book that you should buy. i agree on the subject of using the q-and-a format. i hope that enabled me to explore the complexity. you don't want to in answer to every question say nobody knows. it's very complicated. even though the truth is nobody knows. you ha

. >> paul krugman is going to be at city university.eard professor krugman complained before about the food in princeton. well, guess what. >> i think it is a commute. i know he lives on the upper west side, but seriously, what krugman has criticized plosser for is not being out on the social front we are talking about, which is to get more people employed. he's not sure the fed can do that. >> he is absolutely certain the fed's powers are limited. have levers they can pull. >> but they are leaders that only affect certain aspects of the economy. more than anything else, he wants the fed to stand back. he and i were chatting after he got off the set with you. there's only so much government can do. sometimes the economy needs to fix it sell. >> it is the arch debate in economics. we are fortunate in the united states that on every side of this debate people are informed. >> sometimes the economy needs to fix itself. except we have been trained to say, help me, aid me. it is easier that way. >> good news in the last couple of days, an ar

and krooug krooug -- paul krugman of the new york times and princeton. we have to begin with the new developments over the weekend about chris christie. we have david wildstein, the port authority, suggesting that chris christie is not telling the truth, saying that evidence exists there. you say the new allegations which prompted a huge response from chris christie means he's less likely to be elected president than amanda knox will vacation in italy? isn't that overstating the case? >> no, of course not. there's no way i would overstate it. he's in a serious situation. this memo they put out -- they put out a memo trashing wildstein. they brought up the fact nobody liked him in high school. any time you do that, to me, it sends a signal you are worried and concerned and there's more to this than that. just like punxsutawney phil saw there's going to be six months more winter, chris christie stood up at that super bowl thing yesterday, got booed, and he has a long winter ahead of him. >> and the question is that chris christie has information, he said e

paul krugman. yours are. with all seven games what a witch. you know. chu you you you you will the eye shea. i am. or in in need good. the century spectacle i

all sectors of the economy mainly under the doctrines of you know there larry summers in the paul krugman as of the world who insist you can have enough debt whether you're a household or a government and i submit you have so much debt today that it's a clear and present danger to our capitalist economy now we only have about one minute left i want to ask you superfast we spoke with your former regular reagan administration colleague paul craig roberts last week and although he didn't discuss it during the interview i know he wrote a book on what he calls the failure of laissez faire capitalism now his view is that we have a sort of crony capitalism in play dominated by vested interests and large corporations rather than a real capitalism that can spur growth what is your view we have thirty seconds i'm so sorry there's a long way to you know i agree with that i agree with that i think the problem is overwhelmingly crony capitalism that's what the bailout of all the big banks and wall street of goldman sachs and morgan stanley and a i.g. and all the rest of wasn't two to zero eight in my

krugman. yours are. with all the activity. what a witch you know. you will will will will will the eye the fan the news. jan atl and has been sworn into a term as chair of the us central bank yell and sixty temper ninety eight to become the first woman to head that her term as chair and every thirty two thousand and eighteen gallon is scheduled to testify before us lawmakers want the gory eleven and i cannot separate thirteen in what will probably be her first comments on monetary policy and the economy after taking the reins of the us central bank gallon is to appear before the house financial services committee and there are eleven and the senate banking committee on february thirteen yell and who was the best daycare last spoke publicly of her senate confirmation hearing on november fourteen before the fed kept its first half going down is a massive bond buying program. as you the controversial french comedian utah may have been banned from entering britain after several other shows were canceled in cramped be a dante had said he would travel to

fraudsters from other countries to take up residency in the united states well it also shows what paul krugman said is that the u.s. dollar is backed by men with guns here that the entire system is back with men with guns who protect the you know the people who are able to loot and by the way you know the housing market here if china is indeed going to crack down on people stealing and looting that from their nation these you know this is how they longer the money through the properties here that we always point to behind us. johnson runs a laundromat that's called the study of london and he welcomes chinese hot money or money that's been stolen to be laundered in london that's his job. i don't know there's must be a name for it worries you know a poor plan or something that is basically a laundromat service for chinese kleptocrats naked pork done in the forefront of course johnson so now here they're coming to a place where there is no crackdown on corruption and we're going to look at a few headlines here and alice's lawsuits over for x. market face uncertain future so we know that the key b

paul krugman called me crazy. >> he pointed out that rising income inequality can have negative financialonsequences and in the sense that if -- it could lead us to be more economic vulnerable. the people who cannot pay, everybody suffers. >> it is such a contradiction of intermixed ideas. he won the nobel prize in economics. i cannot argue economics with him, but to demonize the job creators is crazy. and to demonize the rich who spend and buy things and stimulate the economy is crazy. i heard on news hour with -- oh -- oh, gosh -- his name escapes me. they got into a discussion about the idiocy of a rolex watches and why any man it needs a rolex. and it is terrible values, etc., etc. this is not a rolex but i could buy a sixpack a rolexes with this but so what? >> danielle steele inspired perkins to speak out. ♪ >> welcome back. i am emily chang. in tom perkins' original letter, he mentioned novelist danielle steele saying she has been unfairly treated. he did not mention she is his ex-wife. i asked him if the letter was personal. >> yes. i think the inspiration for writing the letter c

technically has no intrinsic value if you talk to paul krugman at the new york times he'll tell you that well yes the u.s. dollar has no value except it is backed by men with guns. you know this is not really a currency so much as a license to invade countries star wars create kleptocrats become a monopolist it's not really a currency the u.s. dollar is not a currency the us dollars a license to commit war crimes pretty much backed up by psychotic warmongering pentagon that's not really a currency gold is a currency silver is a currency bitcoin is a currency the dollar is not a currency the british pound is also another license to invade in the extra exploit and extort it's not really a currency percent has no intrinsic value. max we can always count on you for those sound bites like warmonger in pentagon so i thank you now i want to ask you how do you get people other than true believers to transacting crypto currency when it fluctuates as much as big as i mean what are you doing to tackle this on the front of maps point well you're saying adoption of the currencies in countries that ar

but the fact that the cokes latest anti obamacare ad is a lie shouldn't come as a surprise as paul krugman pointed out in a recent op ed for the new york times the right is having a very hard time coming up with real cases of hardship under obamacare when it goes on to write what the right wads are struggling average americans prefer women facing financial devastation from health reform so those are the tales they're telling even though they haven't been able to come up with any real examples on the senate floor today harry reid lashed out at these blatantly false obamacare ads and their sponsors like the koch brothers take a look at leukemia patient whose insurance policy was counsel would die without her medication and that's an ad being paid for by two billionaire brothers it's absolutely false or the woman whose insurance forms you want to month and speed for around america are the multi-billionaire koch brothers and and is florence. we heard about the evils of obamacare about the lifes it's ruining. republican some speeches in an ads paid for by oil magnets a koch brothers but in thos

as economist paul krugman put it comcast perfectly fits the old notion of monopolistic as robber baronsevil warlords extracting tolls from all people past that sound about right even acts as the sea commissioner michael copps said this is just such a far reaching deal it should be dead on arrival when it gets to the department of justice and the federal communications commission for approval but regulators probably will approve the deal because the us government caters to the needs of big business not to the needs of the people it governs it's almost as if they think they're playing around with just a lot of monopoly bodies tonight let's talk about that by following me on twitter as the resident. that does it for now but for more on the stories we covered go to youtube dot com slash our to america check out our website r c dot com and follow me on twitter at meghan underscore lopez have a wonderful night. wealthy british style. market. can. 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 report

newspapers, columnists paul krugman and anthony lewis drew on the authority to warn as what they saw of the bush administration's slow right-wing takeover of the united states. they saw bush has another down-home strong man. they never specified who the first one had been. the notion that bush was a fascist as some of you will no laws and on challenging revelation for some people, even today. also sometimes i do bring it up just to annoy people. [laughter] this one element of if it can't happen here that relates to the president, he never specifies what his alternative is. what he implies is what is needed is an oligarchy of good people. not so different from the new samara and how you have to replace democracy with an oligarchy of good people. how this is to be done he doesn't have much to say. when you read or listen to people are around the obama administration, it's a similar view of the world with one important difference i won't go into now. let me stop with that. i've probably gone on for too long. i've gone on for too long. thank you triet [applause] who would like to begin.

. >> congressman, paul krugman has a powerful article in "the new york times."basically says that one gets the sense that contempt for the unemployed, and we're talking about the extension of unemployment insurance last week, those basically at society's lower rungs, that contempt comes first and the justifications for these tough policies are basically after the fact rationalizations. they retrofit their economic policy to go around a deep seeded content for certain parts of american society. >> i saw that, and i tend to agree with him, but the leader pelosi put it in stronger terms. not only for most of these people in the tea party and elsewhere who are opposed to this wage, these people are invisible to them. they're also indifferent to the plight of these people working at this very, very low wage. the republicans are suggesting that we keep the wages low so corporations won't have to pay them above a 19.68 wage. but they're supporting the continuation of federal subsidies to walmarts and larger restaurant chains. they want a government handout on top of a

remarks went further, questioning the truth of all complaints, quoting "new york times" columnist paul krugman. >> paul krug mlg writes, republicans are just making this stuff up. >> and today, white house spokesman jay carney backed him up. >> reporters have discovered that in fact the circumstances are not as they're being presented by either outside groups or republicans. >> it was pretty astonishing to have the majority leader, the democratic leader of the united states senate get up on the floor of the united states state senate and call americans liars. >> roy blunt, who has given 11 speeches laying out horror stories from his constituents questions reid's accusations. >> i guess you think the active imagination of missourians are running wild because they're contacting our office constantly telling of higher premiums, higher deductibles. >> those who have been misled are forced to pay more than before are hardly a rarity. 6.2 million had policies canceled, many forced into much more expensive plans. >> i think we should call ourselves the liars' club. >> tom got a letter cancelling his

that way i get to claim anything i want, paul krugman. >> exactly. [ park sounds, sound of spray paint, how much money do you think you'll need when you retire? $500,000. maybe half-million. say a million dollars. [ dan ] then we gave each person a ribbon to show how many years that amount might last. ♪ i was trying to like pull it a little further. you know, i was trying to stretch it a little bit more. [ woman ] got me to 70 years old. i'm going to have to rethink this thing. [ man ] i looked around at everybody else and i was like, "are you kidding me?" [ dan ] it's just human nature to focus on the here and now. so it's hard to imagine how much we'll need for a retirement that could last 30 years or more. so maybe we need to approach things differently, if we want to be ready for a longer retirement. ♪ ♪ the day building a play set begins with a surprise twinge of back pain... and a choice. take up to 4 advil in a day or 2 aleve for all day relief. [ male announcer ] that's handy. ♪ i just served my mother-in-law your chicken noodle soup but she loved it so much... i told her it wa

paul krugman and larry summers as far as i can tell aren't. >> if they were we would he hearing about it by now. >> there and ended to grab tickets for trying to boost aggregate demand and stimulate the economy but that is a business cycle issue right now. what we are talking about is more fundamental long-term structural issues and for that matter not unrelated. as andrew was just saying these structural can lead to the drop in demand that we are seeing so you need to address both of them. >> you can run an economy with a very small group at the top and a holme mass of fairly miserable people at the bottom. it's feasible, it's just a lousy society and the smaller economy. it's not where we want to go at all. >> certainly it will have political implications. >> it's going to be on quiet places as well. speaker2: circle back to henry ford and the robots and we did have two questions here. one is whether given what we are seeing from long-term robot android development should these workers be required to pay social security taxes with android workers? and relatedly henry ford knew he ne

on obamacare, and some of those ads have gotten under the skin of "new york times" columnist paul krugman who wrote thursday afternoon, quote, so far every single one of those sob stories has turned out to be false, echoing the senate majority leader who said this yesterday morning. >> there's plenty of horror stories being told. all of them are untrue, but they are being told all over america. >> reporter: strategists say these ads are here to stay. >> the most valuable ad is one that exposes the lies that were told to the american people. >> reporter: there are now even some democrats distancing themselves from obamacare's shake start. >> ann kirkpatrick listens and learns. it's why she blew the whistle on the disastrous health care website. >> he voted to let you to keep the existing health care plan and took you to task. >> reporter: others on the left are reminding constituents that they support some of the law's less controversial provisions. >> he knows we can't go back to letting insurance companies deny coverage for pre-existing conditions. >> cut waste and fraud in medicare. >>

paul krugman and larry summers are not in the room here as far as i can tell so i don't think -- >> if they were we would be hearing about it by now. >> the on the any bigger advocates were trying to boost aggregate demand and stimulate the economy than we are but that's a business cycle issue right now. what we're talking that is the more fundamental long-term structural issues. for that matter they're not unrelated. as andrew was saying these structural issues can lead to the fundamental drop in demand that we are seeing, and so you need to address both of them. >> you can run an economy with a very small group of elite at the top and a whole mess a fairly manageable people down at the bottom. it's feasible, it's just a lousy society, a smaller economy. it's not we want to go at all. spin it will almost certainly have political implications. >> out somebody. >> circle back to discussion of henry ford and the robots. two questions, one is whether given what we've seen from long-term robot and what development, sure these workers be required to pay social security taxes speak with you

newspaper columnists, bloggers and pundits such as paul krugman and anthony lewis true on the book's authority to warn against what they saw as the current bush administration's slow motion right-wing takeover of the united states by bush who they saw as yet another down home strongman. they never specified who the first one had been. the notion that bush was a fascist, as some of you will know, is an unchallenge bl revelation for some people even today. it's pointless to argue about it. although i sometimes bring it up just to annoy people. [laughter] now, this one element of "it can't happen here" that relates to the present, it never specifies what his alternative is. and what he implies is what's needed is an oligarchy of good people. you know, not so different from the new samurai. and i don't know how these people are to be selected, these good people are selected, but you have to replace democracy with an old old garre finish oligarchy of good people. how this is to be done, he doesn't want much to say. when you read or listen to people around the obama administration, it's ve

i think we're at a very different tectonic shift, and it's what paul krugman called a paranoia of thetocrats. they feel it coming. it's not so much the populism that's spiraling out of control. it's inequality and a sense on the part of millions of people that the system is unfair, that it's rigged and these people, you know, no one's saying equal income for all. >> yeah, that was chris christie's line the other day, everyone's going to have an equal salary. >> the founding fathers would have rolled over in their graves. they were for a system -- this is a rigged system. people feel it in their gut. there is a reason a majority of americans support an increase in the minimum wage and it's transpartisan. >> right. >> these guys, most of them are guys, feel it. >> yes, so you think that's -- i think that's a really good point that part of this is reaction to the part the facts are inequality growing, the facts are the public is increasingly aware. the reaction emotionally is this kind of defensiveness. >> i also thinks it stems from the fact they have sort of untethered themselves. the

the paul krugman admires him or second room as far as i can tell. >> we be hearing about it by now. >> to run any bigger advocates for demand to stimulate the economy. that's a business cycle issue right now. what we talk about is a more fundamental long-term structural issues and for that matter a standard which is pain, the structural issues can lead to the fundamental drop in demand we are seeing and we need to address both of them. >> you can run an economy with a very small group of the elite at the top of the whole map at the bottom. it's feasible. it's just a lousy society, smaller economy. not where we want to go at all. >> they tend to be a quiet places. >> just circle back to henry ford and the robot he did anticipate two questions here. one is whether given what we are seeing from long-term robot underdevelopment should these workers be required to pay social security taxes? and relatedly, henry ford knew he made at the lower class is too can and has products with increased wages. do you think modern type aaronson has two controller system seeking similarly? >> let's dive i

call -- paul krugman is famous for having a critique about austrian economics during the good times but during the bad times suddenly there is a lot of things he says that sound an awful lot like austrian economics like the financial system being over expansion on, expansionary. it in the standard australian review have a simple mechanism. it's the government, the federal reserve lowering interest rates and that's the expansionary aspect which then later on this suspension proves to be infeasible in the real set your, just infeasible. now there is a lot of other ways you can tell a very similar story such as the financial system itself, not necessarily because the government is pushing supply that through new technologies and new innovations through ceos and new financial innovations. it starts to put out a lot more credit on the basis of the same money supply. you have vast expansion in credit and you get all this housebuilding and so forth and that can later turn out to be infeasible. the public doesn't really want all those houses and to get these collapses and things like that. paul

we saw this between paul krugman and danny roddick on economics. , whichk at this debate is it?esponsibility. the fed did not do the structural adjustments. .hey ran big deficits now they are paying a price for it. there is no enforcement mechanism. do they actually do to change behavior? nothing. >> this is a big debate. chairman yellin is speaking in washington for the first time next week. we will have that for you. that is on tuesday. this is a different matter. >> let us go to some thing lighter. last night was jay leno's last night as host of the tonight show. to bostonic the comes will show at my apartment. >> i am calling it a bomb site. you cannot imagine what it was like. it was a caveman guys place. you had no furniture. ae only thing you had was poster of robert klein over your bed. i cannot explain that. >> that was jay leno with billy crystal. jimmy fallon will take over on february 17, bringing the show back to new york city. there is a lot of nostalgia about the tonight show. late-night tv has changed a lot since jay leno began. why are these shows still so evide