the only reason i brought up paul krugman is because i acknowledge paul krugman for trying to definehe scale of the problem. if you want to get into how i would solve it, we're going to do a 30 million jobs tour this winter that will go into releasing public and private investment into energy health and trade. i don't want to waste all your time with that right now. and i get your point. but the only point i'm trying to make in this conversation is just like we need to talk about getting money out of politics with a constitutional amendment, it's a scale issue, the same way we need to talk about 30 million jobs for america, not 2 million jobs, we need to talk about the characteristics of our economy in terms of poverty and unemployment on a scale that actually reflects what they are. >> the problem that tim has, and i don't want to get into tit for tat, but when we say we, many of us are saying government. and tim's ideology is such that he doesn't want that. >> my ideology says that can't work. the most that we can do is try to untangle all the things that cause the problem and wait

listen, if paul krugman -- and this is what democrats don't understand. >> i don't agree with paul krugman either. >> if the ideas of paul krugman are the ideas of the republican nominee, i'm not voting for the republican nominee. >> and paul krugman won the democratic nomination. that's not my point. >> newt gingrich has adopted the views of paul krugman on the -- >> i'm not defending newt gingrich. >> on the creative construction of the -- i'm saying democrats will lecture republicans about electability. no, what i'm saying here is if my candidate adopts the vup poi viewpoints of paul krugman and teddy kennedy, i'm not voting for that guy, i don't care who it is. i will find somebody else to vote for. that's all i'm saying. and so, yeah, it's a difficult decision for republicans to make. >> yeah, look -- >> newt is all over the place. >> all over the place and leave personal aside. you've said some things that people have completely misconstrued -- >> and it's hurting me. >> no, it hasn't. my point is you're not talking about the personal, you're talking about his professional life. what

that raised all kinds of ire in the mainstream mess and well, paul krugman wrote political fact, bent over backwards to appear balanced and in the process made themselves useless and irrelevant, why the hatred. >> if you're a liberal, you have to believe that changing the financing mechanism for medicare is ending the program. and ryan is-- paul ryan, any change in the financing message of that. and the goal for helping senior citizens is the same, but if you say ryan is ending medicare and then paul krugman and the rest of the left leaning-- >> it's absurd they made in the lie of the year and everyone national review had someone blog on this. it's a lie, and a voucher system, and will eventually phase itself out. you could disagree about that, but it's so far from the lie of the year. i think what they were doing, pandering trying to say oh, we're balanced. the republicans the lie of the year and last year the democrats the lie of the year. >> here is what they wrote in responding to the criticism. we've read the critiques and see nothing at that changes our findings and stand by our

you so much for your thoughts on that was former reagan administration official and columnist paul krugman roberts well that is it for now for more on the stories we covered go to our t. dot com slash u.f.a. and check out our you to page it's you tube dot com slash arts in america so you back here at seven. i am max kaiser this is the kaiser reporting oh it's a financial war and coded messages are being transmitted in the financial pages let's get into this herbert yes max we're talking about financial war all the time here in kaiser report and it made me think back to world war two under nazi occupied france b.b.c. london broadcast coded messages to the french resistance here are some of them max . that was grandma ate our bon bons and now here's the blue horse walks on the horizon. it will be right this is fascinating so the coded message is a big broadcast in occupied france as a way to communicate to the resistance so it's like all the book itself like jibberish but there's some meaning if you understand the code and we see this now today go away with this kind of financial some a for

on that you know in two thousand and nine after everything kind of got really bad people like paul krugman were writing columns saying how did economists miss it or you know how did they get it so wrong but you didn't get it wrong you got it right so why did so many economists miss it well really that's where the that's the important question isn't while it's short coming because it's me seeing credibly all of the use of you take a look at what was happening the financial sector and take it seriously the reason economists didn't see it coming is they convinced themselves and crewman still believes this he wrote this in a research paper at the end of last year that the level of debt doesn't matter private to only worry about the level of government that might convince themselves that the level of profit that doesn't matter because a date is simply one person's asset another person's lot ability overall there's none that effect on the macro economy that is so fundamentally flawed and wrong but that's why they belong to it so they didn't even look at the major indicator that i took seriously

about torturing tactics i've spoken to a partner reagan administration official and columnist paul krugman roberts to find out they can listen to you talking about to train a. syrian troops how can research and rule which allow the u.s. military. to pick up people in every country of the world which includes china russia and the united states and hold them indefinitely then we're talking about something that star greater than the torch of pause that we're talking about them peel the united states constitution and what we see from the vote. against the amendment by rand paul the republican senator from kentucky to exempt american citizens from this amendment to this an authorization bill that will allow the military to simply pick up any american citizen anywhere on earth and hold them indefinitely without charges. what we see is that you can rent pausing them again for voted down well u.s. senate so we have the u.s. senate consisting of all except two the republicans plus fifteen democrats voting to repeal the united states constitution. now another there is some question as to whether the

and by the way credit to paul krugman for coming up with the phrase free market fairies because all it is in reality is a poll tested for aids free market just like job creators just a phrase to get average low information voters to nod their heads and blindly follow the lead of the millionaires and billionaires who are perfectly happy in the perpetual boom bust cycles of a free market economy where bankers get the boom and we all get stuck with the bust there is no magical free market there are no fairies no secret green elves no unicorns no walk ness monster and more than likely no abominable snowman but there are real solutions solutions that have been tried in the past and it worked really well solutions like raising taxes on the rich putting regulations on the banks toure's setting trade tariffs weaving a strong social safety net and protecting the rights of workers to unionize and organize into labor unions basically none of the stuff you heard in the republican debate those are the real solutions we need and not the nonsense you hear spewed from republicans on a daily basis with

you don't forget no those are some american also still you know time to go no more suppose also paul krugman space should go to space looking for some aliens the payload you know stays bigger some change in three that is going through the close yes the slinky school they can move which have never fails since the one day we're all speaking german which i'm max kaiser so you know i'm prepared for that eventuality trust me well the loans were meant to deceive the public and the congress or at least it gave the congress plausible deniability that they knew what was going on that seven point seven trillion dollars allowed the banks to transfer all their bad debts that would have indicated that they were insolvent to the fed and with that hank paulson was able to go hold up the congress it was a big show for the population however because remember at first congress rejected it because of all their tax payers calling them and then the second time the markets crash and the taxpayer is the one saying congress you better vote for this tarp but in fact the tarp never would have happened had they known

this goes against the prevailing theory of people like ben bernanke or paul krugman of the new york times who believe that the depression was not caused by a credit boom of the one nine hundred twenty s. but caused by policies that came in after after the crash so your thoughts i would say the following you know if you look at such a crisis and such a recession it is very clear that at the starting point of such a recession or depression the economy must have accumulated mess of mis locations or imbalances and the question for us economists is how can an economy get itself into such a position that it has these mess of dislocations that obviously for an extended period of time so many people made you know wrong decisions and allocated capital in correctly overextended bank balance sheets how could all of this happen and the thing one of the criticism i have of the interpretations of other mainstream economists is that the always focus on this thing of demand the focus on a symptom of the crisis but the kennedys we explained how this imbalance came about and i would argue that the austrian

am one of the people who care very much about the bond markets a lot of economists for instance paul krugman wrote how do you say oh it's it's it's not really real you know there are ways for government to raise money there are ways for government to raise money and short term but in the long term if you are running a deficit you need to go to the bond markets to shoot it out you need to have those bond markets are that currently because of the astronomical meals that nice is having to pay you know i really want to finance themselves rather essentially in sokolow have been essentially installed since april of two thousand so that the real problem isn't responses at this point drop in the bucket if remember reese is just two percent of the years and. the real important player at this point is people because italy's debt is now yielding over seven percent the initial uninitiated that means that their talks of war are over seven percent which is extremely expensive in fact it is and then stay in the level of have to pay that amount of interest are going to happen so italy is going to go bankrup

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 problem is politically on time and nationalizing the commons that you are talking about that and 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 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 lon

other dave paul krugman and the "new york times" said there was too much balance in hard news stories about the economy and about politics. and krugman wants hard news journalists to come out and flat out say it's the tea party people who brought the country to the brink of disaster. i'm going to read one sentence. these are his exact words. the problem with american politics right now is republic extremism. and if you are not willing to say that you are helping to make the problem worse. then a few days later, john kerry, senator from massachusetts said pretty much the same thing. >> bill: harry blamed the downgrade from s&p on the tea party and then he went further. roll it. >> right. >> the media has got to begin to not give equal time or equal balance to an absolutely absurd notion just because somebody asserts it or simply because somebody says something which everybody knows is not factual. >> bill: what's he talking about there? >> he is talking about things that conservative republicans who have said during the debate but here is the thing. in theory, i agree with krugman and

. >> let's keep in mind the infamous quote that paul krugman reminded us of, newt gingrich sounds likea smart person to dumb people. i've totally bungled that. but the idea that this is just in kind of narrative he's spinning, it's interesting that you think it's born out of insecurity. >> absolutely. >> that's psychology 101. >> really rich people talk about money. >> and people who have not spent their careers in washington, this is his biggest liability and you've seen the romney campaign start to talk about this, newt gingrich is a creature of washington, all of the stuff he brags about his washington experience, what has he done in the private sector. the private sector experience, he's going to get beat up on that. but his biggest vulnerability is not about bragging but it's not conservative enough for the republican electoratelectorate. romney will keep beating him down. >> which is nuts. >> it's true. his past, his global warming ads with nancy pelosi. >> the ad will be replayed over and over. >> we just seen the tip of the iceberg of the romney campaign taking on newt gingrich

as paul krugman writes, interesting here, "the people at politifact are terrified of being consideredisan. so they have bent over backwards to appear balanced. and in the process made themselves useless and irrelevant. way to go, guys." the president of the university of texas college republicans tweets racist comments about president obama. michael eric dyson will weigh in on race in today's republican party. and they say there's no problem. we're right back. >>> "the ed show" survey tonight i asked you, can you afford the republican tax hike? 4% of you said yes. 96% of you said no. >>> coming up, msnbc political analyst michael dyson on the gop's racial rhetoric. nyquil (st uffy ): hey, tylenol. you know we're kinda like twins. tylenol: we are? nyquil (stuffy): yeah, we both relieve coughs, sneezing, aches, fevers. tylenol: and i relieve nasal congestion. nyquil (stuffy): overachiever. anncr vo: tylenol cold multi-symptom nighttime relieves nasal congestion... nyquil cold & flu doesn't. and get a cold... ...you need a cold medicine with a heart. only coricidin hbp has a heart, right

paul krugman won for his work on international trade, not for his ranting in the "new york times," ande for next on the right side of the political spectrum who think that -- think the stimulus is no good but they won the nobel prize for, you know, for relatively esoteric they'ry in terms of rational expectations or other things that are difficult to -- to put into day-to-day terms. >> now, what's your -- you've got a serious side to you obviously because you are a bona fide phd, card carrying economist. i know you've got concerns about the way economics is actually taught and the things that economic students take away from the classroom, whether they are econ majors or non-majors trying to get exposures. what do you think is wrong with the way we're teaching the subject these days? >> a lot of economics is the invisible hand and the idea that individual self-interest canç promote the common good and that's not the whole story and if students only take out that component of it then maybe they will be less inclined to contribute to things as we think of public goods or contribute to t

as paul krugman writes, interesting here, "the people at politifact are terrified of being consideredd. and in the process made themselves useless and irrelevant. way to go, guys." >>> the president of the university of texas college republicans tweets racist comments about president obama. michael eric dyson will weigh in on race in today's republican party. and they say there's no problem. we're right back. [ female announcer ] removing facial hair can be irritating. challenge that. new olay smooth finish facial hair removal duo. first a gentle balm. then the removal cream. effective together with less irritation and as gentle as a feather. new olay hair removal duo. >>> "the ed show" survey tonight i asked you, can you afford the republican tax hike? 4% of you said yes. 96% of you said no. >>> coming up, msnbc political analyst michael dyson on the gop's racial rhetoric. for her sophomore year ♪ ♪ co-signed her credit card - "buy books, not beer!" ♪ ♪ but the second that she shut the door ♪ ♪ girl started blowing up their credit score ♪ ♪ she bought a pizza party for the whole dorm

house, people in the obama candidacy who understand, and i -- i always go back to joe stiglitz and paul krugman reich, the three leading voices who write and articulate the sorts of investment. give you an examle. the treasury today went into the bond market and borrowed at virtually zero. if you can get money at zero, with the reserve currency, and you can get a return on that investment of 2%, 3%, 4%, 5% per year do it. that's what the government should be doing. we shouldn't be concerned about the deficit nearly as much as we should be concerned about the lack of investment capital in the areas where we need it. >> very quickly, can you released type of activity that you're discussing without doing some sort of global debt restructuring on a sovereign level a la germany and japan after world war ii and the next threshold down without at least addressing the swaps market which specifically trades in private, and i can't tell the difference. no one can tell the difference between valid or speculative swaps. >> probably not. i don't pretend to be an expert in the swaps market. >> i don't think

as paul krugman writes, interesting here, "the people at politifact are terrified of being consideredkwards to appear balanced. and in the process made themselves useless and irrelevant. way to go, guys." the president of the university of texas college republicans tweets racist comments about president obama. michael eric dyson will weigh in on race in today's republican party. and they say there's no problem. we're right back. [ male announcer ] new vis nature fusion cold & flu syrup. flavored with real honey. powerful cold medicine that leaves out artificial flavors and dyes and instead uses something more natural, honey. new vicks nature fusion cold & flu. ♪ when you pour chunky beef with country vegetables soup over it... you can do dinner. four minutes, around four bucks. campbell's chunky. it's amazing what soup can do. >>> "the ed show" survey tonight i asked you, can you afford the republican tax hike? 4% of you said yes. 96% of you said no. >>> coming up, msnbc political analyst michael dyson on the gop's racial rhetoric. we're kind of a quiet couple. yes. but lately we've b

a few days ago he was channelling as the "wall street journal" said yesterday paul krugman with his commentsaul ryan a right-wing social engineer. >> i had him on my show and i said unforgivable, i'm not going to support you. ryan steps out there, makes this very courageous -- i'll agree with you. he then steps up and apologizes and says i'm sorry, i was wrong, i shouldn't have done it. but then, and with newt he says but then, actually i was right the first time. >> what does that mean? that's the unsettling and unnerving part. >> and for those of us who worked with him day in and day out, i remember when we were fighting to reopen the -- to shut the government down, it was reopened, that battle continued, though, and we finally were making progress, and then newt goes on a flight across the country -- across the world to israel and he's complaining about being stuck in the back of the plane and said that's why we shut down the government. i remember all of us being bombarded off the house floor in the middle of our legislative battle with dick gephart and the democrats who didn't want to b

he was reading a lot of paul krugman. in the economic briefings, it was larry and tim. but obama was sort of self-schooling. give me a copy of that. yeah, that's good. what does he come up with? he says, look, i want to be sweden, not japan. that was his big construction coming through february. sweden, as we know, bailed out its banks one slice of this is ridiculous, they nationalized them, they killed them, they killed off wild speculation, and they let the banks recover slowly. they basically returned banks into a boring spine of an economy rather than a casino. sweden roars back, japan, well, they did what we're doing now. just bail 'em out, restore them, use government's purse and effort as best you can. we can't live without whatever they are. whatever that business model is. that's two decades of stagnation in japan, we're now three years into a very similar model. obama gets this, and he says i want to be sweden, not japan. now, what's happening is havoc inside his economic team. summers and geithner, old friends just like emanuel, these guys have known each oth

. >> paul krugman says the current situation that we're in right now is not a recession as i was readingpression and makes a case for that. these are serious times. >>> still ahead -- oh, good, we have a harvard economist coming on. democratic senator joe manchin will weigh in on the fight to win the payroll tax cut before this month's deadline. >>> and up next, harvard economist jeff miron is here. you're watching "morning joe" brewed by starbucks. wow. it's a great hd tv... shhh. don't speak. i'll just leave you two alone. [ male announcer ] the big christmas event is here. starting 8 a.m. saturday. with great deals on toys, electronics and more... the only place to go for last minute gifts is walmart. >>> you consider both gingrich and romney unacceptable as consistent conservatives? >> well, i would say they're not consistent. i think they more or less admitted that they've changed their positions on -- it's not that they're in denial, it's just they admit they were on one side of a position here and on the other side a position on another time. i think that's pretty clearly understo

>> you know, i mean, right, paul krugman, i think, last week, couple of weeks ago writing a column on that. it's hard to know. the statistics themselves are always hard to judge. we have to downgrade them to a certain extent. we know this is an economy that's growing very rapidly, bringing 300 or 400 million people from rural areas into the cities. a migration of which the world history has never really seen. it's an incredible thing going on in china and will continue. but there is concern that ultimately there are bubbles in the economy. is that across the board? will it truly collapse in some calamitous way? it's hard to imagine, but a concern. >> going awfully fast. let's turn to politico, politico's maggie haberman. good to have you in studio. >> thanks for having me. >> we're talking about third party run. could there be a third party candidate? is it picking up steam, a, and, b, is it a possibility at this point? >> it is. they're not disclosing, but they have gotten on the ballot in 13 states and they're making a push to get on in all 50 states. they got on in california, whic

they cut these needed benefits during one of the longest economic slumps in american history, and paul krugman, nobel laureate and great economist said today we are in a depression. adding to the fact that the united states' economy is in such bad shape, the economies of europe and our concern about them. why can't this grand ole party help the middle class without demanding a quid pro quo? why can't they serve the middle class without playing secret santa for special interests like the keystone xl. we don't know where that oil is going to go. i've heard most people saying once it removes itself from the united states and refined in texas it will be put on ships and likely sent to asia. it would be nice if we knew that before we insisted on putting that pipeline through. the good news is the majority's holiday giveaways will never make it past our colleagues in the senate, and they face a near-certain presidential veto. and with any luck this bad movie will come to an end and we can finally take serious steps to help the middle class families and provide unqualified assistance to the unemploye