It's hard to imagine an economist being provocative, but Paul Krugman, a Nobel Prize winner, has managed to do so.
In his June 28 New York Times op-ed, Krugman argued that since governments around the world aren't willing to double-down on Keynesian policies meant to stimulate the global economy, the United States and the rest of the world are facing a third depression. But on CNBC's June 28 "The Kudlow Report," host Larry Kudlow asked if Krugman's premise were true, how come none of the measures being applied, which Krugman advocates more of, have failed to have any effect on the current economy.
"Steve Forbes, I want to focus this, coming out of G-20," Kudlow said. "Paul Krugman's remarkable op-ed today in The New York Times - he says, we are already in the early stages of a depression. He calls it the third depression in U.S. history. He says that it's primarily a failure of policy. But, Steve, the so-called spending cuts or tax increases or deficit reduction hasn't happened yet. In the last two years, we've had gargantuan spending and ultra-easy money which is what Professor Krugman has been advocating the whole time. And he still thinks we're in a depression. So I need to ask you, maybe his policies are what threaten the depression."
Sometimes even the seemingly most unreasonable characters as far public policy goes can be reasoned with if the circumstances are right. Just sometimes it takes someone like Steve Forbes to pull it off.
On the June 14 broadcast of MSNBC's "Morning Joe," Forbes explained that a flat tax might be the medicine that Greece, a country on the fiscal brink needs.
"Well, when you engage in binge spending and the idea that going to revive an economy, you just get in a spiral on that," Forbes explained. "In terms of countries like Greece what should be done, in addition to the necessary austerity, is they haven't put in place policies, Joe that we did in the early '80s that enabled this country to get back on its feet.
How's this for outside-the-box thinking - use nuclear explosives to stop the BP oil spill that is ravaging the Gulf Coast?
According to some of the panelist on Fox News Channel's "Forbes on Fox," using nuclear materials would be a more expeditious way to solve this calamity.
"That's right, nuke it." "Forbes on Fox" host David Asman said on the show's June 5 broadcast. "Some scientists do advocate this. The Soviets apparently succeeded in doing it. Here is the video they say actually shows it. And now some at ‘Forbes' agree, nuke it.
Rich Karlgaard, publisher of Forbes magazine, was one of the strongest proponents of using nukes for fear that the relief well option could be thwarted by a hurricane.
|Two Useful Idiots and the Man Who's Using Them|
The intrepid Steve Forbes took last Wednesday to FoxNews.com to analyze Chavez vis a vis a report by the Organization for the American States (OAS). Forbes writes about:
(A) new and discouraging, but not unsurprising (OAS) report about the troubling anti-democratic trend in Venezuela, as Hugo Chavez continues to crack down on those who oppose him - be they in the judiciary, opposition parties or the media. The OAS's 300 page report by jurists and civil rights activists from Antigua, Argentina, Brazil, Chile and the United States points out the increasing role that violence and murder have played in Chavez's consolidation of his power, including the documented killing of journalists.
Again, Federal Communications Commission (FCC) Chief Diversity Officer Mark Lloyd has praised Chavez for taking "very seriously the media in his country." Again we ask, is the above what Lloyd has in mind?
More from Forbes:
"Many of [Hugo] Chavez’s most ardent supporters here in the U.S. come out of the 'media reform' movement, which believes that our corporate media has been thoroughly co-opted by capitalists bent on destroying the benevolent leadership of the likes of Chavez. They think that our capitalist-plagued media world is in dire need of reform."
So ominously wrote Steve Forbes Wednesday in an article guaranteed to make right-thinking Americans from coast to coast wonder what's next in the Left's plans to control the press.
It is bad when an anchor from a sister network feels compelled to call out a colleague about the lack of ideological balance, but that's just what CNBC's Larry Kudlow did on his Oct. 27 program.
In a time when some of CNBC's critics demand the network be held to a high standard when it comes to balance, a different standard is applied to MSNBC. And a lack of balance is something Kudlow pointed out.
Kudlow, referring to the Oct. 26 broadcast of MSNBC's "The Ed Show," which featured Rep. Barney Frank, perennial presidential candidate Ralph Nader and the host Ed Schultz, noted all the participants were left-of-center. And in the appearance, Frank made a pitch for the expanded role of government and argued the only reason people opposed it was because they were disillusioned by the government for its failures during the Bush administration, specifically dealing with Hurricane Katrina.
Don't like the notion of Wall Street employees receiving bonuses? Shoot the messenger - as Adam Green at The Huffington Post has done.
In a Feb. 2 post on The Huffington Post, Green said it was bad form for CNBC "Street Signs" host Erin Burnett to even think about considering the other side of the anti-Wall Street bonus argument, since some Wall Street banks received TARP funds, courtesy of the taxpayer.
"There are, though - well, how should we say this - the taxpayer money is not being used to pay the bonuses," Burnett explained on NBC's Feb. 1 "Meet the Press." "I think people could understand if you work for a company - right? If the three of us worked for a company, your guests, and I lost $10 billion but Steve [Forbes] over there, he made a billion dollars. So overall the company actually loses money, but Steve went and did his very darndest for that company and he made money. So should he be paid for his work? That's essentially what we're talking about here."