Becky Quick chimes in: CNBC anchor lets loose a totally brainless rant against Krugman

Just when you thought there weren't any more ill-informed people left to spew out their nonsense, CNBC anchor Becky Quick chimes in and writes this mind-numbingly dumb piece in Fortune Mag attacking Paul Krugman.

The New York Times columnist and Nobel Prize-winning economist recently wrote a column attacking a bipartisan proposal to reduce the nation's debt problems, arguing, "We're not facing any kind of a fiscal crisis." He maintains that President Barack Obama, if reelected, should reject calls to resurrect the debt-reduction blueprint. The only problem with Krugman's critique? It is hard to find anyone who actually agrees with him. He's certainly not getting assent from Alan Simpson and Erskine Bowles, who headed the panel that crafted the ideas Krugman is now attacking. Nor will the economist find much support from the 44 CEOs of Fortune 500 companies who are now advocating the plan. And most notably, perhaps, he's not charming former President Bill Clinton, for whom Bowles served as chief of staff. Clinton's office provided me with the following statement when I called for comment. It's a damning retort to Krugman -- and a bold statement about a plan the Obama administration has failed to embrace, even though the President commissioned it: "While everyone can find things to disagree with in the recommendations of the Simpson-Bowles commission, I believe it got some big things right: The debt will become a much bigger problem when normal economic growth returns and causes interest rates to rise; passing a credible 10-year plan now will keep the government's borrowing costs much lower than they will be without one; it's important not to impose austerity now before a growth trend is clearly established, because as the austerity policies in the eurozone and the U.S. show, that will slow the economy, cut jobs, and increase deficits; and any credible deficit-reduction plan requires three things -- spending reductions, revenue increases, and economic growth."

Quick hauls out the old, "if no one says what you're saying, you must be wrong," attack.

They said that to Christopher Columbus and Copernicus and the Wright Brothers, Becky.

And the staple, "If we don't get out debt in order interest rates will rise and how will we be able to pay it," garbage.

These people are paid millions of dollars to sit there and say this shit, folks.

The blatant lies of Peterson, Walker, Simpson, Bowles

By now we have all seen the sheer, blatant, empty, vicious lies of the likes of Pete Peterson, David Walker, Erskin Bowles, Alan Simpson and the rest of the subversive Deficit Terrorists clan.

This dangerous and destructive group is on course to decimate a national standard of living that was once the envy of the world. Their program is all based on filthy lies and the worst part is, they're going to get away with it.

I'm sure you're all familiar with the clever soundbites and dogmatic propaganda points they use:

"Stabilize the debt, unfunded liabilities, fiscal sustainabillity..."

Listen to that snake, Bowles, as he spews forth his lies in an interview with Charlie Rose

Erskine Bowles: I would say that any of these budget proposals that don't reduce the deficit by at least four trillion dollars over the next decade because that's the minimum amount you need to stabilize the debt and get it on a downward path as a percent of GDP, any of them that don't do that, any of them that don't address defense, any of them that don't address Medicare, Medicaid, Social Security, and don't reform the tax code, and aren't balanced in some way between that aren't serious. Charlie Rose: Then why do you think people have not come to support Bowles-Simpson? Erskine Bowles: Because it's politically painful. The problems are real. The solutions are all painful. There's no easy way out. And everybody gets the arithmetic, everybody understand the economics, but they have to make tough political choices in order to do it. And as long as people are worshipping the great god of reelection, then we're going to have a hard time getting to the promised land. Erskine Bowles: You know, you got to respect the fact that this is tough, you know, for one side or the other. It's going to be tough for the Republicans to concede the fact that we have to have some additional revenue. It's going to be tough for the Democrats to make the kind of concessions you have to make to make Social Security sustainably solvent. But, we have to do these things in order to put our fiscal house in order for our kids.

They're lies, damn lies and nobody even questions them outside of these pages (and a few other MMT sites).

The other day I showed you how the U.S. redeemed ("paid back") $32 TRILLION in debt in the past six months alone. That's more than twice the entire national debt. Done. Paid off. In six months.

Or how about the fact that we paid back $64 trillion in 2011? That's four times the national debt PAID BACK in just 12 months.

How did we do it? Where did all that money come from? China? Japan? Taxes? Savers? There's not that many dollars in the whole world.

We "got it" by changing numbers in bank accounts. Simple as that. Keystrokes. Or, if you prefer...we "printed" it. Yes, we printed it and guess what? No hyperinflation, no collapse in the dollar, no spike in interest rates. In fact, inflation has been tame, the stock market has been going up, the economy has been growing, jobs were created, interest rates remained at historically low levels and yes, even the dollar rallied.

All the fear mongering and all the hysteria about hyperinflation or us becoming the next Zimbabwe is pure bullshit.

Yet nobody looks at the facts. They just swallow the poisonous Kool Aid of the Debt clan.

Where is Geithner or Bernanke, who surely know that the U.S. paid back that $32 TRILLION?

Timothy Geithner is the Secretary of the Treasury for God's sake!!! Are you kidding me, he knows these figures! These numbers are compiled and reported by his own department. Ben Bernanke knows this, too! But they stay silent. They say nothing, other than to repeat the lies of their masters: "We need to get our fiscal house in order." And this is all the excuse they need to gut Medicare, Medicaid, Social Security, Veterans benefits, education, food stamps, etc.

What a sham!

Now we have this ridiculous debt commission that is proposing their hugely destructive policies designed to address the so-called "unfunded liabilities" of Social Security. Do you know just exactly what those "unfunded liabilities" amount to? They amount to some supposed shortfall of $4.32 trillion 75 years from now! That's right, we just put a bunch of clowns in place to deal with a supposed shortfall of $4.32 trillion SEVENTY-FIVE FUCKING YEARS FROM NOW even though we just paid off 8 times that amount in the last six months!!

The stuff I am telling you is the truth. The stuff you are hearing out of the mouths of Peterson, Walker, Bowles, Simpson and the rest of the Deficit Terrorists clan is not. Nor are the words of the lackey, subservient, politicians who parrot their crap for the promise of some campaign donation, true either.

The bottom line is, the fiscal crisis is a myth. It's a myth manufactured by a bunch of ideological zealots who want nothing more than to steal the wealth of this nation for themselves so they can lord over a bunch of powerless, servile peasants. That would be us.

We have no fiscal crisis in this country. The only crisis we have is that these bastards are in charge. It's time to make that stop.

-Mike Norman

The phony debt crisis!

At a Treasury auction today of 4-week bills, investors were prepared to give the government over a quarter of a trillion dollars AT ZERO PERCENT INTEREST!

And they keep telling us there's a debt crisis and we need to cut the debt!

If this doesn't show how the whole debt thing is a total farce and a total propaganda lie, then I don't know what will.