In their non-reporting on the Ron Paul Fed hearing last Wednesday New York Times know-it-all Paul Krugman and Washington Post weasel Dana Milbank relied almost exclusively on the rantings of Congressman William Clay, who in his opening statement informed the committee room that no amount of money creation by the Fed could possibly have any negative effect on the value of the dollar. (He also said Austrian economics was fraudulent because it utilizes deductive logic.  So does mathematical science, of course, and this “flaw” did not stop the Nobel committee from awarding Austrian economist F.A. Hayek the Nobel Prize in Economics … Continue reading The Racist Ties of Paul Krugman and Dana Milbank