FLASHBACK: "They Are Not The Future" Economist & NYT Columnist Paul Krugman "Rural White Americans Feel That They're Are Losing Their Country - And They Are Right"
To get to the point, this clip is from an interview with New York Times economist Paul Krugman conducted for NRK Urix in Norway in January 2014, and was broadcast on NRK2 at 22.10 on January 4th 2014.
"The madness is primarily due to ethnic and cultural conflicts.Much of the madness comes from white rural Americans who feel they are losing their country, Krugman says to NRK.
He received the Nobel Prize in Economics in 2008 for his contributions to Socio-Economic Sciences.
He is a professor at Princeton University, but in recent years he has been most famous for his posts in the New York Times , where he writes several times a week.
- Crazy politicians in Congress
Politically belonging to Krugman's American left side.Many of his posts in the New York Times during the Bush administration were highly critical.Krugman has been particularly critical of fiscal policy, which led to major government deficit deficits.
"We really have no ability to design a healthy policy.We are paralyzed in many areas.The wealthy groups do not own the right-wing politicians as they did before, says Krugman.
He sees a significant shift in American politics.
- The fact that the kingdom buys a political class that then comes with its bids, describes the Bush administration.Now we look back on time with Bush as relatively reasonable.For now we have really crazy people in Congress who are willing to believe the business interests.
- The business sector does not want debt contraction and closure of government accounts.But now we have an extreme political wing who wants such things.For the outside world, it was amazing to see all the fuss around the budget crisis last year, says Krugman.
In the interview with Urix at NRK 2, Krugman also comments the situation in Greece, as Greece today takes over the presidency of the EU .He believes that the country has managed better through the financial crisis than one would think.
"They have introduced large wage cuts, which have made them more competitive.Nothing of this excuses what has happened, but it is possible, if not certain, that the worst is against the euro zone, "Krugman said.
He nevertheless believes that the saving measures that were introduced were unnecessary.
"Looking at what has led to the recovery of financial markets in Europe, it is not the saving measures, but the European Central Bank's intervention.So the extremely painful saving measures were not necessary.The extent of the measures was greater than necessary.
FLASHBACK: "They Are Not The Future" Economist & NYT Columnist Paul Krugman "Rural White Americans Feel That They're Are Losing Their Country - And They Are Right"
by DTOM
Aug 18, 2018
To get to the point, this clip is from an interview with New York Times economist Paul Krugman conducted for NRK Urix in Norway in January 2014, and was broadcast on NRK2 at 22.10 on January 4th 2014.
Full source article and interview can be found here - https://www.nrk.no/urix/--amerikansk-politikk-er-galskap-1.11457779
The original source video is here and relevant material begins at timecode: 05.50
The following is an English translation of the original source material page:
___
American politics are madder than you think
Former Nobel Prize winner in Economics, Paul Krugman, believes the press barely manages to show how crazy American politics is.
See NRK Urix's interview with economics professor Paul Krugman.
"The madness is primarily due to ethnic and cultural conflicts. Much of the madness comes from white rural Americans who feel they are losing their country, Krugman says to NRK.
He received the Nobel Prize in Economics in 2008 for his contributions to Socio-Economic Sciences.
He is a professor at Princeton University, but in recent years he has been most famous for his posts in the New York Times , where he writes several times a week.
- Crazy politicians in Congress
Politically belonging to Krugman's American left side. Many of his posts in the New York Times during the Bush administration were highly critical. Krugman has been particularly critical of fiscal policy, which led to major government deficit deficits.
"We really have no ability to design a healthy policy. We are paralyzed in many areas. The wealthy groups do not own the right-wing politicians as they did before, says Krugman.
He sees a significant shift in American politics.
- The fact that the kingdom buys a political class that then comes with its bids, describes the Bush administration. Now we look back on time with Bush as relatively reasonable. For now we have really crazy people in Congress who are willing to believe the business interests.
Krugman believes the closure of public offices this fall illustrates this.
- The business sector does not want debt contraction and closure of government accounts. But now we have an extreme political wing who wants such things. For the outside world, it was amazing to see all the fuss around the budget crisis last year, says Krugman.
- Greek spare packages unnecessary
In the interview with Urix at NRK 2, Krugman also comments the situation in Greece, as Greece today takes over the presidency of the EU . He believes that the country has managed better through the financial crisis than one would think.
"They have introduced large wage cuts, which have made them more competitive. Nothing of this excuses what has happened, but it is possible, if not certain, that the worst is against the euro zone, "Krugman said.
He nevertheless believes that the saving measures that were introduced were unnecessary.
"Looking at what has led to the recovery of financial markets in Europe, it is not the saving measures, but the European Central Bank's intervention. So the extremely painful saving measures were not necessary. The extent of the measures was greater than necessary.