Time for Thorns

An independent view on life.

Krugman economics in action…

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The reason  this piece  mentions Paul Krugman,  the New York Times writer who reminds us at every opportunity that he won a nobel Prize for economics,  is that he and his acolytes  presume that government spending drives economic growth.   Therefore,  any decrease in taxation and any decrease in government revenues is bad for individuals.

The sad tale of Williston,  North Dakota shows Mr. Krugman wrong.  Government spending is a tax on everyone,  and all politicians fail to control their spending desires when presented with a pile of other people’s money.   Williston had huge revenues for a time from fracking,  and spent like the proverbial drunken sailor on projects it did not need,  and now has debts it can never hope to repay.   Government growth occurs because there is privately created wealth for it to take,  and the only smart thing to do economically is to restrict government spending.  Those who create wealth generally search for ways to increase their wealth,  and they tend to be much superior than governments when it comes to spending habits.

I think we should all band together and purchase Mr. Krugman a plane ticket to Williston plus a motel room for a week.  Perhaps if he has to live in the wreckage caused by his supposed mastery of economics,  he will gain a dribble of common sense through simple observation.

 

 

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Written by timeforthorns

January 20, 2018 at 3:55 pm

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