Two polar economic opposites, Ron Paul and Paul Krugman, just faced off on Bloomberg TV.
You can read the full text below, but here are some key points:
But it was fun!
You can read the full text below, but here are some key points:
- Naturally, the two of them didn't agree on virtually anything and mostly talked past each other.
- Ron Paul said his goal wasn't to end the Fed, but to create competing currencies. Basically he wants to end the Fed's monopoly.
- Krugman says that in the modern era, there's no separating the government from monetary policy. And Krugman denied that he's somehow anti-markets or anti-capitalism. But he says, depressions are bad things, and that they're bad for capitalism if we don't intervene to fix them.
- Paul says the worst problem in the economy is the debt because we're wasting all of our money paying off the debt.
- Krugman says trying austerity to cut the debt only makes the debt worse.
But it was fun!
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