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How Would You Feel With Paul Krugman as Chairman of the Fed? Apparently, He’d Consider It

Jul. 29, 2012 1:47pm Erica Ritz

CNN panelist Ken Rogoff made a “scary” proposition, in the words of Newsbusters’ Noel Sheppard, during a recent television appearance with Paul Krugman on Fareed Zakaria’s show.

“By the way…” he sarcastically said to the man who advocates preparing for an alien invasion as a way to restore the U.S. economy, “what would you think of the idea of appointing you Federal Reserve Chairman as a credible signal?”

The discussion followed a segment where Krugman tirelessly advocated more quantitative easing and inflation.

“[The Federal Reserve] should be doing more of that,” he said, “[and] when we hashed over these issues a dozen years ago with regard to Japan, we kept on coming up that it would really help in situations like the one we’re in now if the Fed would make it clear that it is willing to tolerate a higher rate of inflation … it can’t help that happen right away but … a signal that it’s willing to tolerate a higher rate of inflation would be really helpful.”

When Zakaria asked the other panelist, Rogoff, whether he was concerned about high inflation rates, Rogoff responded that he most certainly is not. Rather, he suggested we appoint Paul Krugman to be chairman of the Federal Reserve to send that unequivocal “signal” Krugman discussed.

The two acknowledged that it was a joke, of course.

Krugman added that, “People have been saying that Ben Bernanke should go around wearing a Hawaiian shirt…” as a possible signal instead, adding that he would accept the position “as long as someone else does the actual work of running the place.”

Watch the interview, which may indicate why CNN has been hitting 20-year lows:

One NewsBusters commenter sarcastically asked whether appointing Krugman to be chairman of the Fed would work as well as appointing a community organizer as president, while another said he wasn’t sure if he would trust Krugman as the new judge on “American Idol.”

It probably doesn’t help that Krugman told readers to “pay no attention to the warnings that any day now we’ll turn into Greece” in a Thursday New York Times article, before encouraging still more record-breaking spending.

(H/T: Newsbusters)

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Comments (108)

RANGER1965
Posted on July 29, 2012 at 3:03pm
For those of you saying it’ll never happen. I would like to remind you that it wasn’t long ago, that the same was being said of that “clean and eloquent” black man who graciously gave of his important time, to become our empero…I mean president of the United States.

If we do get another 4 years of Barrack Hussien Obama then you can be certain that Krugman is on Obama’s short list for Fed chairman.

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- Snowleopard {gallery of cat folks}
  Posted on July 29, 2012 at 3:11pm
  Say it for what it is: Obama wants to be an emperor.
  
  Report this comment
- GeorgieJo
  Posted on July 29, 2012 at 3:14pm
  Krugman is insane.
  He needs therapy.
  OMG 2012
  
  Report this comment
- BlazingBob
  Posted on July 29, 2012 at 3:34pm
  I am convinced that road to hell is paved with Liberals like Paul Krugman who seems to orbit in his own mindless universe. My recommendation, more “Forrest Yoga therapy”
  
  Report this comment
- Gold Coin & Economic News
  Posted on July 29, 2012 at 4:31pm
  I don’t know whether to laugh or cry about that prospect. Paul Krugman doesn’t know that most basic fundamentals of economics. Her thinks government spending and getting themselves further into debt is what makes the economy grow. He needs to take a basic economics course from James Brown:
  https://www.youtube.com/watch?v=sOKcdOI25ig
  
  Report this comment
- DOra Glasberg
  Posted on July 29, 2012 at 4:37pm
  Hussein means handsome.
  
  Report this comment
- RJJinGadsden
  Posted on July 29, 2012 at 4:46pm
  Then, go ahead DORA_THE_EXPLORER have at and compete with Michelle. I met women like you during the Clinton Admin, who only had sparkles in their eyes for the man, but couldn’t say much more about him. You must have a vacuum where the rest of have a brain.
  
  Report this comment
- soybomb315_II
  Posted on July 29, 2012 at 5:19pm
  If Krugman had an “R” after his name, you all would be telling us he is the lesser of two evils
  
  Report this comment
- KC1
  Posted on July 29, 2012 at 5:33pm
  Wouldn’t surprise me at all Krugman and both candidates for Pres Romney and Obama are Keynsians. Romney supports TARP, Quantitative Easing and raising the debt ceiling (just like Obama). It does not matter who wins in Nov the policies of bankruptcy are bi partisan. We had our chance to return to free markets and you told that candidate he was to extreme and out right insane. You Progressive Republicans and Democrats will get what you deserve and voted for.
  
  http://www.youtube.com/watch?v=Ol4G-vCM5vM&feature=g-vrec
  We will be begging this man to come out of retirement in four years. Romney cant even carry a conversation on this subject due to lack of knowledge and out right ignorance on the subject. Shame on Romney supporters.
  
  Report this comment
- doomytram
  Posted on July 29, 2012 at 5:34pm
  Krugman is a Tree Rat. He looks like a Squirrel and needs to be in a straight jacket. Weekly, the tree rat pukes to Stephalaughagus, about Spending more, Aliens, and Academia.
  
  Krugman has gone insane and he was always borderline. Nobel Peace Prize and Clown’s Hussein and Krugman will never be on the same losing team together, ever! This is The Blaze’s weekly Krugman story that we get to laugh about the Tree Rat and nothing else.
  
  Listen, if Hussein get’s re-elected, then we will be beholden to Maxine Watters, Holder, and a BaFingnana Republic Czar like Slim will be your master.
  
  Report this comment
- KC1
  Posted on July 29, 2012 at 5:37pm
  @Soybomb
  HA! Well put.
  
  Report this comment
- Bluebonnet
  Posted on July 29, 2012 at 6:23pm
  That would be a fate worse than death with that insane man in charge of the Fed.
  First, he’s a liar, we couldn’t trust him with even a fraction of the money we have left from what’s been borrowed from China. obama wants to smite us, but that’s God’s job to eventually smite all those who surround themselves around obama.
  
  Report this comment
- Secret Squirrel
  Posted on July 29, 2012 at 6:37pm
  .
  What would I do?
  Take everything I own, sell it and buy silver.
  I know Krugman would collapse the economy.
  
  Report this comment
- turkey13
  Posted on July 29, 2012 at 6:41pm
  He warns folks not to worry that we will turn into another Greece. Sounds like hes all ready converted his money into gold and silver. I wonder if he even knows Obama bought 11 new printing presses and is running them 24/7. He probably wouldn’t be any worse than Turbo Timmy. It won’t make any difference who’s in that position if we go to a gold, silver and barter system.
  
  Report this comment
- txdave22
  Posted on July 29, 2012 at 8:40pm
  The Dow Jones is up more than 50 percent since the president took office and albeit slowly, the gross domestic product is consistently in an upward growth mode.
  
  So, you might “hate” the president because you think he has ruined the economy, and things are only getting worse; but you’ d be wrong. Things are getting better, just slowly, very slowly. And remember, the tortoise did beat the hare!
  
  Can the stock market pick the next president?
  
  By MATTHEW CRAFT
  AP Business Writer
  NEW YORK (AP) – The number has been repeated so often by presidential prognosticators that it’s an article of faith: No president has been re-elected since World War II with an unemployment rate higher than 7.2 percent.
  
  But the stock market turns out to be a pretty good predictor, too.
  
  The Dow Jones industrial average has soared 62 percent since President Barack Obama took the oath of office during some of the darkest days of the Great Recession. The Dow was just below 8,000 then and stands near 13,000 today.
  
  If a recent study of stock markets and presidential elections is any guide, Obama can start preparing his second inaugural address.
  
  “There’s something to this,” says Phil Orlando, chief equity market strategist at Federated Investors, the $370 billion investment firm.
  
  This one makes a little more sense: When the economy picks up and unemployment falls, confident investors put money into riskier investments and stocks rise. Voters are likely to reward the sitting presi
  
  Report this comment
- Lotus503
  Posted on July 29, 2012 at 11:33pm
  I have one word to answer the question in the article title…DOOMED!
  
  Report this comment
- Shiroi Raion
  Posted on July 29, 2012 at 11:40pm
  Isn’t Fareed the same idiot that suggested America take a lesson from Iceland and have a Twitter-Constitution.
  Krugman, Fareed, and Rogoff = Moe, Larry, and Curly.
  
  Report this comment
- BlazingBob
  Posted on July 30, 2012 at 12:09am
  TXDAVE22: The Stock market results are the caboose on the US economic train. It’s interesting to watch how the nation’s investors choose to gamble their money and predict the economy forecast, when in reality they don’t know where the economy is going at all. Simply stated, its not reliable source for banking on trends, but merely a reaction to the news of that day or week.
  
  As for Europe economics (which effects us), our summer heat wave will look like the ovens of hell for Europe. Money will flee Europe over the course of this year, then Spain will consume the last of Europe’s ability to save the euro. This will force both the US and Europe to engage in more quantitative easing QE. ( “When the treasury prints more money out of thin air, so that Federal Reserve can “buy” more American National Debt.”) QE also seems to be the entire world’s political drug of choice these days, once markets get a hit on the QE crack pipe, they demand more the second the economic high wears off.
  
  As a result of excessive use of QE. Both the US and Europe’s economies will begin there final descent in the spring of 2013, then crash and burn which is good for the gold market, and bad for the stock market.
  
  Then comes austerity, that will be forced on nations that have no way of managing their debt without making the drastic cuts that creditors demand which means certain economic atrophy.
  
  But who and I kidding TXDAVE. You probably check when someone tells you t
  
  Report this comment
- Classical Liberal
  Posted on July 30, 2012 at 2:34am
  My feelings on a Paul krugman Fed:
  
  http://www.youtube.com/watch?v=umDr0mPuyQc
  
  Report this comment
- poorrichard09
  Posted on July 30, 2012 at 7:57am
  Bernake is sneaky, Krugman is kind of a nut.
  
  Report this comment
- Leader1776
  Posted on July 30, 2012 at 8:13am
  @soybomb315_II
  And if pigs had ………………….
  
  Report this comment
blackyb
Posted on July 29, 2012 at 3:01pm
Some people because of graft, greed or being blackmailed are not arresting criminals and are putting American citizens at risk every day, all day long. It is time to stand up to these do nothing people and get them out of the way so Americans can run their country instead of criminals and fringe groups and an impostor President and this thug cohorts. It is time.

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Mark0331
Posted on July 29, 2012 at 2:58pm
Monster egomaniac…enough said

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- DOra Glasberg
  Posted on July 29, 2012 at 4:38pm
  Who’s been proven to be correct 100% of the time.
  
  Report this comment
- RJJinGadsden
  Posted on July 29, 2012 at 4:48pm
  DORA_THE_EXPLORER, Really, Krugman has proven to be right 100% of the time? Bwahahahahahahaha….bwahahahahahahahaha!
  
  Report this comment
- The_Cabrito_Goat
  Posted on July 29, 2012 at 5:52pm
  Ok, Krugman may have been heard saying ‘this economy stinks’ or ‘the sky is blue’
  
  I’ll vouch for him on that, he’s right often enough
  
  Report this comment
- DOra Glasberg
  Posted on July 30, 2012 at 12:12am
  I know the truth hurts but this PeeWee Herman always responding with the contrary is so childish.
  Krugman HAS been right 100% of the time.
  The nation is where is is today, because of 30 year of Republican/Conservative economic policies.
  Also, another FACT, 72% of the current deficit was run up during Republican administrations.
  Democrats have ALWAYS had to come in an clean up Republican messes. Always.
  
  Report this comment
Seth Patriot
Posted on July 29, 2012 at 2:57pm
I’d play golf in a thunderstorm and hold my 7 iron up in the air.

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BlackCrow
Posted on July 29, 2012 at 2:56pm
Out of the frying pan and into the fire.

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DEMOCRATS.ARE.EVIL
Posted on July 29, 2012 at 2:51pm
Chairman of the Fed?…….how about queen of cell block 69?

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- Snowleopard {gallery of cat folks}
  Posted on July 29, 2012 at 3:01pm
  Wonderful idea.
  
  For the Blazers; I just heard on the Voice to America broadcast that the administration is doing their war thumping again about the nation of Mali. Apperantly a CNN reporter did a 24-hr “fact finding” on the rebellion by the Islamist Extremists; and now Obama and friends are “having concerns” and are declaring “we need a stronger presence in the land of Mali.”
  
  Keep looking for this to flare into another Libya style incidence.
  
  Report this comment
libh8er
Posted on July 29, 2012 at 2:43pm
I would like to see Krugman train to be a body bomb tester.

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Individualism
Posted on July 29, 2012 at 2:41pm
We need the end the fed and allow people to use their currency of their choice.

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Individualism
Posted on July 29, 2012 at 2:40pm
Load up on gold silver and other commodities they would skyrocket like hell under him.

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Too_Far_Gone
Posted on July 29, 2012 at 2:35pm
We don’t need no stinkin’ fed ..

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- SOUNDTHETRUMPET
  Posted on July 29, 2012 at 3:43pm
  True Abolish the fed
  
  Report this comment
- SCREW-WINDOWS
  Posted on July 29, 2012 at 4:21pm
  Has anyone noticed there is no reserve “We are Broke”
  Abolish the Fed.
  
  Report this comment
- RJJinGadsden
  Posted on July 29, 2012 at 4:50pm
  I agree, but the last two presidents who were vocal about ending the Fed got shot. JFK and Reagan. Think about it.
  
  Report this comment
- Shasta
  Posted on July 29, 2012 at 7:14pm
  Harry Reid would not even allow a vote to audit the fed, let alone end it. So unless we win the White House and both houses of congress, we have no chance to deal with the fed. Romney of course is very silent on the fed. My guess is he would never try it.
  
  Report this comment
OlefromMN
Posted on July 29, 2012 at 2:27pm
In other news, Nancy Pelosi has expressed interest in becoming the next Queen of England if she were to be asked. I say both scenarios have an equal chance of coming to fruition.

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Rational Man
Posted on July 29, 2012 at 2:27pm
I would feel better if the Federal Reserve was abolished all together! But if it stays, Krugman would be the absolute worse choice to run it. Progressive, keynesian economic disaster for America. He would be covered in printers ink for the rest of his miserable marxist life.

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- DOra Glasberg
  Posted on July 29, 2012 at 4:40pm
  Nothing beats voo doo and trickle down,right? We’ve had 3 decades to prove that!
  
  Report this comment
- SCREW-WINDOWS
  Posted on July 30, 2012 at 12:09am
  Alright which one of you kids left the basement door open ?
  Your aunt Dora is scaring the neighborhood children again.
  
  Report this comment
PansyShare
Posted on July 29, 2012 at 2:26pm
this guy is crazy he’d fit right in

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HorseCrazy
Posted on July 29, 2012 at 2:26pm
just when you hope that some common sense will be brought back to america this story appears

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Ghandi was a Republican
Posted on July 29, 2012 at 2:19pm
The cesspool of liberalism must be drained. The stench of progressivism must be eradicated.

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- Rational Man
  Posted on July 29, 2012 at 2:32pm
  What!….And give up Americas’ apparent commitment to medocrity and self destruction?
  
  Report this comment
- Chet Hempstead
  Posted on July 29, 2012 at 6:15pm
  That’s not how you spell Gandhi.
  
  Report this comment
standuppeople
Posted on July 29, 2012 at 2:17pm
What, America’s economy not declining fast enough?

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Chromo200
Posted on July 29, 2012 at 2:12pm
A trainee from McDonalds will do a better job. Paul will print more money and give it to any one who can stand on the curb when he drives in and out of the garage, or if if you can get into his office. If you live west of the Hudson River and east of the Rockies, you are out of luck.

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Buckeye4ABO
Posted on July 29, 2012 at 2:12pm
Paul Krugman… “Most Likely To Turn Us Into The Republic of Weimerica”

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- Rational Man
  Posted on July 29, 2012 at 2:34pm
  You’ve been reading Krugman’s High School yearbook, haven’t you………..
  
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- Buckeye4ABO
  Posted on July 29, 2012 at 2:58pm
  Heh… yeah, it reads like prophecy.
  
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purecolorartist
Posted on July 29, 2012 at 2:10pm
Saw this whole interview this morning and couldn’t believe what I was hearing. These people live in bazaaro world. CNN is the only news I get on Dish TV down here in the southern Baja, Mex.

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- copatriots
  Posted on July 29, 2012 at 5:30pm
  Yikes….sorry for you even if you are in Baja. Forced to get your news via CNN. Their few viewers here in the States are likely also coerced…..perhaps in hospitals and prisons. :-)
  
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Snowleopard {gallery of cat folks}
Posted on July 29, 2012 at 2:09pm
How would I feel about Krugman as Fed Chair?

I would simply declare “Throw the switch, full power, until the thing stops moving…”

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brickmoon
Posted on July 29, 2012 at 2:06pm
How would I feel about Krugman as Fed chair?

http://www.youtube.com/watch?v=oKI-tD0L18A

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- OlefromMN
  Posted on July 29, 2012 at 2:22pm
  Lol
  
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OlefromMN
Posted on July 29, 2012 at 2:05pm
The left certainly does not lack ego. Narcissists all!

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hauschild
Posted on July 29, 2012 at 2:01pm
Cool – an Ewok running the fed – that would be right up a leftist’s alley.

Having the most unqualified people running various industries is their modus operandi. Krugman – another academic who didn’t feel confident enough in his abilities to compete in the private sector – fits the mold perfectly.

Next, it’ll be Stuart Smalley as Sec of Defense.

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Buckeye4ABO
Posted on July 29, 2012 at 1:56pm
Add your comments

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garylee123
Posted on July 29, 2012 at 1:53pm
Better yet….get rid of the Fed.

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