“In a way, we actually do have fair trade with China: they sell us poisoned toys and tainted sea food and we sell them fraudulent securities.”
Paul Krugman, on Bill Maher’s Show Real Time with video and full text below
Full Exchange:
Maher: To me I think, from a layman’s point of view for the last 20-30 years, America doesn’t make anything. We used to manufacture stuff, cars and stuff. Arabs and Colombians drill oil, Indians make code for computers. China makes DVD’s – they make them out of pigshit and mercury – but they make something. Y’know what America makes? Debt. The Financial Services industry just makes debt, it’s really pushing money around on computers screens.
Krugman: Well, your right, and in way we actually do have fair trade with China. They sell us poisoned toys and tainted sea food and we sell them fraudulent securities.
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See Also: “We Used to Make Shit In This Country. Build Shit.”, Paul Krugman Just Scared the *#%^ Outta Me on Real Time!, “We just wanted to choose a really large number”, So, Who Opposes The Paulson Proposals?, Krugman to Democrats: do you want Phil Gramm to have Paulson’s new powers?, Krugman’s Sneaking Suspicion, and Krugman: A $700 Billion Slap in the Face.
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