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interest rates it controls directly are already at zro ich s allindf implications. it means that things like fiscal austerity, ordinarily if the government spends less that doesn't have to cause a recession because the fed can cut interest rates to offset that. but it can't do that now. so all of the logic of how economic policy works changes. we are qualitativefully the same situation we were in in the 30s. quantitatively it's not as bad but it has that same underlying logic. ros paul krugman for the hour. next. captioning sponsored by rose communications from our studios in new yor...

we are qualitativefully the same situation we were in in the 30s. quantitatively it's not as bad but it has that same underlying logic. >> rose: paul krugman for the hour. next. captioning sponsored by rose communications from our studios in new york city, this is charlie rose. >> rose: paul krugman is here. he is a "new york times" columnist in and a professor of economics at princeton. in 2008, he won a nobel prize for ground-breaking analysis on the international trade. he completed three decades ago since the financial crisis he has advocated for aggressive measures to revive the...

we are qualitativefully the same situation we were in in the 30s. quantitatively it's not as bad but it has that same underlying logic. >> rose: paul krugman for the hour. next. captioning sponsored by rose communications from our studios in new york city, this is charlie rose. >> rose: paul krugman is here. he is a "new york times" columnist in and a professor of economics at princeton. in 2008, he won a nobel prize for ground-breaking analysis on the international trade. he completed three decades ago since the financial crisis he has advocated for aggressive measures to revive the...

But i mean, he had the hispanic vote locked up thanks to the republican primary season, so did he have to do this? no, he really didn't. look at the numbers of hispanic voters and then romney says well, this is very little, this is very late, he refuses to say that he would be doing anything differently than this policy. so it's sort of like that old joke about the food is terrible and the portions are so small. >> right. jonathan, melinda refers to the latest poll numbers show obama at hispanics, romney at 24%. i want to play some commentary from george will talking about the gop's hispanic p...