In the interests of full disclosure, I despise NYTimes economist Paul Krugman.
I believe him to be dishonest,
....and far less knowledgeable in the area of economics than his credentials would lead one to believe.
This 'economist' recently wrote about the demise of Detroit, and his piece documents exactly what I said above.
1. "Detroit is just an innocent victim of market forces. There is no bigger lesson here, said New York Times economist Paul Krugman. For the most part, its just one of those things that happens now and then in an ever changing economy (July 21). What garbage.
2. .... Detroit filed for Chapter 9 bankruptcy. The filing, if approved, would make it the largest municipal bankruptcy in U.S. history, and probably the biggest municipal bankruptcy of any advanced nation ever.
But according to [Krugman], there is no lesson to be learned here!
3. The city has lost close to two thirds of its population...., Detroit high schools had a dismal 65 percent graduation rate. ....The children of Detroit have a better chance of going to prison than graduating on time. Almost half of Detroit adults are considered functionally illiterate....Detroit has become a city of single mothers and delinquent dads. It is a tale of welfare addiction, family breakdown and social disintegration. No lesson?
4. Krugman talks about innocent victims. Well, there are a lot of victims in Detroit. It is the most dangerous big city in America and one of the most dangerous in the world. The gang activity and crime rates make Cúcuta, Colombia, and Sao Luis, Brazil, blush. Detroit is the city of 11,000 unsolved homicides. Bodies lie in streets for hours due to morgue cutbacks. Victims are stuffed in trunks. Or left in the streets. Or dumped in abandoned buildings, which are then lit on fire. For the living, police response times average almost an hour.
5. Apparently, a population crash from 2 million to 700,000 is just one of those things. The white flight is historic and well documented. But there is also black flight. And the flight of the dead. Thats right: People are actually exhuming dead relatives to move them out of the city because it is too dangerous to visit the cemeteries.
6. ... the city owes money to more than 100,000 vendors, contractors and other lenders. The city emergency manager thinks the bill comes to around $19 billion, but it might be more.... the average annual per capita income of a Detroit resident is a measly $13,969less than the average per capita income of a resident in Romania, Botswana or Belarus. Over the past 60 years, Detroit has gone from one of the most prosperous cities in the world, with the highest standard of living, to one of the worlds poorest.
7. During that whole time, the city was run by one political party, adhering to a specific economic philosophy. Politicians said they wanted to create a fairer city by raising taxes on businesses and productive individuals and redistributing it. The effect was to drive business out and make everyone poor... This same economic philosophy is currently being nationalized.
8. Want to fix Detroit? Then stop pretending it is just a random victim of a changing economy. It is not! Detroit is a victim, but it is a victim of an imploding national culture, not some mysterious market forces.
9. ... the same thing is happening to many American cities. Despite Americas unparalleled agricultural, mineral, scientific and geographic resources, cities across the country are in various stages of Detroitification." Detroit Bankruptcy?Nothing to See Here - theTrumpet.com
10. Liars like Krugman are lavishly paid to hide the truth. This is the truth:
The legacy of Barack Obama: Nidal Hasan is alive, and Detroit is Dead.
And this is the legacy of the Liberals: Barack Obama's America.
I believe him to be dishonest,
....and far less knowledgeable in the area of economics than his credentials would lead one to believe.
This 'economist' recently wrote about the demise of Detroit, and his piece documents exactly what I said above.
1. "Detroit is just an innocent victim of market forces. There is no bigger lesson here, said New York Times economist Paul Krugman. For the most part, its just one of those things that happens now and then in an ever changing economy (July 21). What garbage.
2. .... Detroit filed for Chapter 9 bankruptcy. The filing, if approved, would make it the largest municipal bankruptcy in U.S. history, and probably the biggest municipal bankruptcy of any advanced nation ever.
But according to [Krugman], there is no lesson to be learned here!
3. The city has lost close to two thirds of its population...., Detroit high schools had a dismal 65 percent graduation rate. ....The children of Detroit have a better chance of going to prison than graduating on time. Almost half of Detroit adults are considered functionally illiterate....Detroit has become a city of single mothers and delinquent dads. It is a tale of welfare addiction, family breakdown and social disintegration. No lesson?
4. Krugman talks about innocent victims. Well, there are a lot of victims in Detroit. It is the most dangerous big city in America and one of the most dangerous in the world. The gang activity and crime rates make Cúcuta, Colombia, and Sao Luis, Brazil, blush. Detroit is the city of 11,000 unsolved homicides. Bodies lie in streets for hours due to morgue cutbacks. Victims are stuffed in trunks. Or left in the streets. Or dumped in abandoned buildings, which are then lit on fire. For the living, police response times average almost an hour.
5. Apparently, a population crash from 2 million to 700,000 is just one of those things. The white flight is historic and well documented. But there is also black flight. And the flight of the dead. Thats right: People are actually exhuming dead relatives to move them out of the city because it is too dangerous to visit the cemeteries.
6. ... the city owes money to more than 100,000 vendors, contractors and other lenders. The city emergency manager thinks the bill comes to around $19 billion, but it might be more.... the average annual per capita income of a Detroit resident is a measly $13,969less than the average per capita income of a resident in Romania, Botswana or Belarus. Over the past 60 years, Detroit has gone from one of the most prosperous cities in the world, with the highest standard of living, to one of the worlds poorest.
7. During that whole time, the city was run by one political party, adhering to a specific economic philosophy. Politicians said they wanted to create a fairer city by raising taxes on businesses and productive individuals and redistributing it. The effect was to drive business out and make everyone poor... This same economic philosophy is currently being nationalized.
8. Want to fix Detroit? Then stop pretending it is just a random victim of a changing economy. It is not! Detroit is a victim, but it is a victim of an imploding national culture, not some mysterious market forces.
9. ... the same thing is happening to many American cities. Despite Americas unparalleled agricultural, mineral, scientific and geographic resources, cities across the country are in various stages of Detroitification." Detroit Bankruptcy?Nothing to See Here - theTrumpet.com
10. Liars like Krugman are lavishly paid to hide the truth. This is the truth:
The legacy of Barack Obama: Nidal Hasan is alive, and Detroit is Dead.
And this is the legacy of the Liberals: Barack Obama's America.
