Tag: Paul Krugman

Posted on By Patrick Maines

The Interesting – and Refreshing – Voice of David Stockman

Perhaps the most interesting opinions these days about things economic and political come from David Stockman, the former Republican congressman from Michigan and head of the Office of Management and Budget (OMB) under President Reagan.

In part, Stockman is the most interesting because he is also the most vitriolic, no mean accomplishment since he competes, in that category, with such as Paul Krugman.  Consider, for instance, the following, all but the last example from just this February:

Regarding a member of the Federal Reserve’s Board of Governors: “Have you ever heard of Lael Brainard? …  In the name of a crude Keynesian economic model that is an insult to even the slow-witted, Brainard and her ilk are conducting a rogue regime of financial repression, manipulation, and unspeakable injustice that will destroy both political democracy and capitalist prosperity as we have known it.”

On central bankers: “There has been an economic coup d’etat in America and most of the world.  We are now ruled by about 200 central bankers, monetary apparatchiks and their minions on Wall Street and other financial centers.”

On Federal Reserve Chair Janet Yellen: “This stupendously naïve old schoolmarm still believes the received Keynesian scriptures as penned by the 1960s-era apostles James (Tobin), John (Galbraith), Paul (Samuelson) and Walter (Heller).”  >> Read More

The opinions expressed above are those of the writer and not of The Media Institute, its Board, contributors, or advisory councils.  The full version of this article appeared in The Hill on March 7, 2016.

Posted on By Patrick Maines

David Stockman Riles the Commentariat

Unless you’re a demagogue or an ideologue (or, like Paul Krugman, both), it might have occurred to you that this country’s outsized money printing by the Fed and our ongoing fiscal deficits are going to end badly; that the debts being piled up, at the velocity of a hurricane, will never be repaid (indeed couldn’t be repaid other than with greatly devalued dollars); and that the likely end result therefore is going to be destabilizing inflation, and the passing along to future generations of staggering debt.

To harbor such thoughts is not only rational but wise, and undoubtedly on the minds of millions of Americans.  Which – along with the fact that he’s promoting a new book – perhaps explains why David Stockman recently wrote a lengthy op-ed piece in the New York Times in which he elaborates on these concerns, and lays the blame on Keynesianism and what he regards as other destructive concepts, past and present.

Titled “State-Wrecked: The Corruption of Capitalism in America,” Stockman’s piece is powerful stuff and so, of course, has attracted the wrath of legions of the “progressive” members of the commentariat.  Taken together, their criticisms speak volumes about the impoverishment of the progressive mindset but almost nothing about Stockman’s concerns.

Indeed, one gets the impression that the important thing for the sort of people encountered at places like the Huffington Post, Washington Post, and New York Times was to be early to the scene; rather like a contest, the winner would be the person who scored on Stockman the first and punchiest ad hominem attack.

So it is that Stockman’s piece is variously described as “spittle-filled,” a “horrific screed,” and the “unfortunate rant” of a “cranky old man.”

None of this is unprecedented, of course, and in fact it positively guarantees that Stockman’s book will be a best seller. But there’s something a little creepy about the invective employed by people who profess to come by their opinions as a consequence of sweet reason.  Creepier still is the intolerance displayed by Krugman, who characterizes his employers’ decision to publish Stockman’s piece as “mysterious.”

Whatever else one might say, the only people who would question the Times’ decision to publish Stockman’s piece are those who think that only their own views deserve a hearing.

Nobody is going to agree with everything that the gentleman wrote, but the decision to publish his piece was not only not mysterious, it was correct and, if anything, belated.

                                            

The opinions expressed above are those of the writer and not of The Media Institute, its Board, contributors, or advisory councils.

 

Posted on By Patrick Maines

Free Speech and That YouTube Video

In an age when, for many, political correctness (not to mention political opportunism) trumps free speech, one should be wary of assertions that specific kinds of speech have precipitated criminal conduct.

We saw false claims like this in the case of the shooting of Rep. Gabrielle Giffords (D-Ariz.), when such as the New York Times’ resident shrieker, Paul Krugman, immediately tied the crime to Republican and Tea Party rhetoric.  And we have seen it again in the wake of the murders in Libya, and the riots in other Arab countries.

The immediate reaction to the killing of the American ambassador, as announced by the State Department and the White House, was that it was an Arab reaction to a cheesy video distributed by YouTube called “Innocence of Muslims.”

Reminiscent of the Giffords shooting, though, it’s now clear that the YouTube video had nothing to do with the murders in Libya, and that if it had anything to do with subsequent anti-American demonstrations elsewhere in the region it was likely because of the prominence the American government assigned to the video in the first place.

Apart from the absence of any connection between the Libyan murders and the YouTube video, there is the question of what should be the reaction of American officials and American citizens, media included, if and when something like a YouTube video does lead directly to murderous acts here or abroad?

The answer to that question may not resonate with everyone, but it’s not difficult either.  All that’s needed is some knowledge of the First Amendment and of First Amendment case law.  If the speech in question is protected, as was clearly the case with the YouTube video, the correct response would be to regret the loss of life and to demand that those responsible be brought to justice.  If, as with “Innocence of Muslims,” the offending material was of little or no value in its own right, criticism of the material might also be appropriate.

But in all events – and particularly where the crimes committed were in foreign lands without free speech – it should also be said by our public officials that ours is a country that greatly values and protects the free-speech rights of individuals, even when such speech gives legitimate offense.

The administration’s early blaming of the Libyan killings on the YouTube video was either a rush to judgment or, worse, an attempt at the kind of misdirection as would guide the ensuing commentary away from questions about the success of U.S. policy in the Mideast and/or the adequacy of our intelligence and security operations.

Perhaps the single worst aspect of this affair was the attempt by the White House to persuade Google (which owns YouTube) to take down the offending video.  The administration’s press spokesman, Jay Carney, says they asked Google only to look into whether the video complied with YouTube’s terms of service, as though that is a distinction with a difference.

It is not, of course, and Google resisted the arm twisting and kept the “Innocence of Muslims” trailer on YouTube, though the company did take it down in a few Arab countries, a call that was and is entirely its to make.

The hounding of free speech is done these days not only by the right, but also, and more dangerously, by the left and by the adoption and overuse of terms like “hate speech.”  The threat in this becomes a matter of greater concern when public officials get in on the act.

                                               

The opinions expressed above are those of the writer and not of The Media Institute, its Board, contributors, or advisory councils.

Posted on By Patrick Maines

The Voices of Moderation Strike Again

Readers of this blog may remember the post in January re some of the opinions expressed immediately after the shooting in Tucson of Rep. Gabrielle Giffords.  The worst were those, by people like Slate’s Jacob Weisberg and the New York Times’ Paul Krugman, who attempted – before anything was known about the shooting – to link it to right-wing political rhetoric.

Though it turned out that the shooter, Jared Loughner, was just another nutjob with no discernible political interests (it’s always so embarrassing when that happens), people like Krugman and Weisberg carry on, unchastened.

So whereas, re the Gifford shooting, Krugman said: “Even if hate is what many want to hear, that doesn’t excuse those that pander to that desire.  They should be shunned by all decent people,” he is now saying, in columns about the debt ceiling and possibility of default, things like:

A number of commentators seem shocked at how unreasonable Republicans are being.  “Has the GOP gone insane?” they ask.  Why, yes, it has.  But this isn’t something that just happened, it’s the culmination of a process that has been going on for decades.  Anyone surprised by the extremism and irresponsibility now on display either hasn’t been paying attention, or has been deliberately turning a blind eye….

The problem with American politics right now is Republican extremism, and if you’re not willing to say that, you’re helping make that problem worse. 

Meanwhile, Jacob Weisberg, whose emanations within hours of Giffords’ shooting included a piece titled “The Tea Party and the Tucson Tragedy: How anti-government, pro-gun, xenophobic populism made the Giffords shooting more likely,” is now saying, re the debt ceiling deal:

Some of the congressional Republicans who are preventing action to help the economy are simply intellectual primitives who reject modern economics on the same basis that they reject Darwin and climate science….

At the level of political culture, we have learned some other sobering lessons: that compromise is dead and that there’s no point trying to explain complicated matters to the American people.  The president has tried reasonableness and he has failed….

A Congress dominated by mindless cannibals is now feasting on a supine president. 

One sometimes wonders what certain people were like as children, but with Weisberg and Krugman we don’t have to wonder because they’re still children.  As such, they aren’t even worth talking about, especially as there are people on the right who are every bit as juvenile.  But the difference is that the right-wingers don’t occupy such lofty, and so-called “mainstream,” positions.

For all practical purposes Paul Krugman is these days the face of the New York Times, and though Jacob Weisberg is employed by a considerably less noteworthy organization, Slate is owned by the Washington Post Co., as “mainstream” as it gets.

Like those high-frequency sounds that only dogs can hear, few people will be able to detect the value in the opinions of commentators who have such contempt for them, a thing that ought to be of concern to those people at news organizations whose business plans count on mainstream Americans as current or prospective subscribers.

                                  

The opinions expressed above are those of the writer and not of The Media Institute, its Board, contributors, or advisory councils.

 

Posted on By Patrick Maines

Tucson and the Media

Never mind for a minute the opinions of those outside the media.  People, for instance, such as Rep. James E. Clyburn (D-S.C.), who sees in the Tucson massacre the need for a reinstatement of the Fairness Doctrine.  Or Rep. Edward Markey (D-Mass.), who in 2007 called on the NTIA to reexamine whether broadcast facilities are creating a climate of fear and inciting individuals to commit hate crimes, and who now says: “The shooting in Arizona reminds all of us that the coarsening of our public discourse can have tragic consequences.”  Or Rep. Bob Brady (D-Pa.), who Broadcasting & Cable reports is “working on a bill to make it a crime to use ‘language or symbols’ that could be interpreted as inciting violence against a member of Congress.”

Never mind even the astonishing comments of the ubiquitous Sheriff Clarence Dupnik, a man who, far from being just your everyday lawman, is a political philosopher and soothsayer as well.

The most disturbing thing about the coverage of this affair is the reckless and, in some quarters, even shameless commentary produced by people in the media.  Witness, for instance, Jacob Weisberg at Slate (“How anti-government, pro-gun, xenophobic populism made the Giffords shooting more likely”); or Michael Tomasky at the Guardian (“In the US, where hate rules at the ballot box, this tragedy has been coming for a long time.”)

But the man whose editorial contribution to this tragic affair represents the absolute nadir of journalistic integrity is The New York Times’ Paul Krugman.  In a blog posted just hours after the shooting, and in a Times piece titled “Climate of Hate,” Krugman relieves himself of opinions that are as poisonous as they are unfounded.  Here’s but one example (among many) of the wisdom and high-mindedness of the gentleman: “So will the Arizona massacre make our discourse less toxic? It’s really up to GOP leaders. Will they accept the reality of what’s happening to America, and take a stand against eliminationist rhetoric? Or will they try to dismiss the massacre as the mere act of a deranged individual,  and go on as before?"

To their credit, and the country’s benefit, Paul Krugman and Jacob Weisberg are not the only people employed by The New York Times and Slate. Those organizations also employ Jack Shafer and David Brooks, whose comments about this matter stand in stark and towering contrast.

Still, it’s one thing when politicians propose restrictions on freedom of speech, and something else when journalists and commentators do so.

One might be inclined to dismiss this kind of commentary if it were an anomaly, a one-off event unconnected to other threats to freedom of speech.  But it’s not.  Early in this millennium the United States has arrived at a time when there is scarcely a special interest or single-issue group in the country that does not employ speech police with direct access to the media.

It’s a time when the latest edition of Huckleberry Finn will substitute the word “slave” for the “n” word.

It’s a time when, as reported here, journalists who break ranks and say something politically incorrect – whether on the record, off the record, while having dinner, whatever – are summarily fired.

Where will it all end?  There are two ways this nation could lose its freedom of speech.  It could happen by laws or regulations promulgated by government, but at the end of the day that would also require that the federal courts go along, something that, given the strong case law in opposition, is unlikely.

But the other way it could happen would be if uninhibited speech is strangled in the crib by political correctness, not only practiced but positively enforced by the political culture as reflected by and in the media.  It is this that is happening today, and the question going forward is how much further down that road will we travel before passing the point of no return?
                                               
The opinions expressed above are those of the writer and not necessarily of The Media Institute, its Board, contributors, or advisory councils.