Krugman on Inflation

The Nobel Prize has removed the nobility of already ignoble minds.

Paul Krugman is a mouth piece of the Left, sticking to the nonsensical agenda that more government, more spending, more power over people and markets will bring this country back from the brink.

Having spent nearly a trillion dollars in one stimulus in name only, the government should spend more money to jumpstart the economy. These mixed signals from government, from taxpayers sources, only confused and conflate private and local interests. Free markets work best when so functioning: free.

"The overhand of debt" that Krugman cites as the chief menace to investment would only grow more ponderous if the federal government continues printing more of devalued currency. The paper would be worth more than the face value of the denomination. Like the economic collapse that crippled Germany following World War I, the American People will end up papering their bedrooms with the likeness of Benjamin Franklin or wiping their bottoms with useless one dollar bills if the U.S Treasury engages in the mad pursuit of economic recovery with higher inflation.

No institution in the public sector should be charged with the "dual mandate" of supporting full employment and price stability. These mechanisms belong to the extended order of trade and exchange, which not mind, not matter how brilliant or articulate, can divine or design.

Mr. Krugman should hock his Nobel Prize and invest in another career before he ever suggests that the United States government has inundated our economy with too little currency. The notion the artificial inflation is the proper regime for a weak economy is like draining a hemophiliac of his last pint of blood in order to stop his internal hemorrhaging.