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Friday, October 30, 2015

Paul Krugman: Springtime for Grifters

Catherine Rampell blames the media for the behavior of Republicans during the debate (and more generally), but if the press called them on their "grifting,", would the Republican base listen?

Springtime for Grifters, by Paul Krugman, Commentary, NY Times: At one point during Wednesday’s Republican debate, Ben Carson was asked about his involvement with Mannatech, a nutritional supplements company that makes outlandish claims ... and has been forced to pay $7 million to settle a deceptive-practices lawsuit. The audience booed, and Mr. Carson denied being involved...
As it happens, Mr. Carson lied. ... But the Republican base doesn’t want to hear about it... These days, in his party, being an obvious grifter isn’t a liability, and may even be an asset. ...
About the grifters: Start with the lowest level, in which marketers use political affinity to sell get-rich-quick schemes, miracle cures, and suchlike. That’s the Carson phenomenon, and it’s just the latest example of a long tradition..., a “strategic alliance of snake-oil vendors and conservative true believers” goes back half a century. ...
At a somewhat higher level are marketing campaigns more or less tied to what purports to be policy analysis. Right-wing warnings of imminent hyperinflation, coupled with demands that we return to the gold standard, were fanned by media figures like Glenn Beck, who used his show to promote Goldline, a firm selling gold coins and bars at, um, inflated prices. ...
Oh, and former Congressman Ron Paul, who has spent decades warning of runaway inflation and is undaunted by its failure to materialize, is very much in the business of selling books and videos showing how you, too, can protect yourself from the coming financial disaster.
At a higher level still are operations that are in principle engaging in political activity, but mainly seem to be generating income for their organizers. ... For example, only 14 percent of what the Tea Party Leadership Fund spends is “candidate focused.”
You might think that such revelations would be politically devastating. But the targets of such schemes know, just know, that the liberal mainstream media can’t be trusted...
Furthermore, the success of the grifters ... defines respectability down.
Consider Mr. Rubio... There was a time when Mr. Rubio’s insistence that $6 trillion in tax cuts would somehow pay for themselves would have marked him as deeply unserious... But the Republican base doesn’t care what the mainstream media says. ...
The point is that we shouldn’t ask whether the G.O.P. will eventually nominate someone in the habit of saying things that are demonstrably untrue, and counting on political loyalists not to notice. The only question is what kind of scam it will be.

    Posted by on Friday, October 30, 2015 at 09:56 AM in Economics, Politics, Press | Permalink  Comments (45)


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