LRC readers may recall that Congressman Lacy Clay (D-Banksters) lied through his teeth at Ron Paul’s first Fed hearing and said that I “worked for” the League of the South (among other lies), and then denounced me for “working for” a “hate group.” He denounced Austrian economics for relying on deductive logic, and then lied further about my resume. (If you look at the “League’s” Web site, what it hates is big, out-of-control government). He said not one word about my prepared testimony regarding how the Fed creates unemployment by generating boom-and-bust cycles. “I have no questions for you,” he said after his libelous smears. That of course was the purpose of the libelous smears — to censor criticisms of the Fed.
Democratic Party propaganda mouthpieces such as Paul Krugman of the New York Times gleefully joined in the smear by writing nothing at all about my testimony, or that of Ron’s other witness, Professor Richard Vedder. Instead, Krugman devoted part of a column repeating Clay’s smears by yukking it up about a “Johnny Reb” economist and making dumb remarks about secession. Despite his Nobel Prize in economics, he chose to write not one word about any of the two-hour economic policy discussion that Professor Vedder and I had with members of the House Financial Services Committee.
Krugman demonstrated breathtaking hypocrisy in a recent New York Times blog when he whined about how some Republican Party hacks in Wisconsin have apparently harassed a local professor who is a public employee union supporter. He complained that the Republican party “has a modus operandi when it comes to scholars expressing views it dislikes: never mind the substance, go for the smear.” Does this man read his own columns?6:38 am on April 5, 2011 Email Thomas DiLorenzo