Paul Krugman Compilation: His Decade of Being a Failure

Pundit Press ^ | 8/25/11 | Aurelius

[therightliveswithus]

Yesterday I wrote about an imbecilic comment that Nobel laureate Paul Krugman wrote on Google+: that a massive earthquake on the East Coast would spur economic growth...

I did some digging this morning to find other idiotic advice that Krugman had given concerning the economy. Preferably, I was looking for material that came from at least several years ago so that I would know whether Krugman's advice proved to be sound or awful.

Quite frankly, I already knew that anything that I found that Krugman wrote would be wrong, so really I was just looking for something stupid that he undoubtedly had said. I found it and a lot of it:.

In the very first piece I found, one of the article's first paragraphs starts thusly:

But predictions of an imminent recovery in business investment keep turning out to be premature. Most businesses are in no hurry to go on another spending spree. And those that might have started to invest again have been deterred by sliding stock prices...

Is Krugman talking about the Obama economy? No, he's talking about President Bush's economy in 2002. Krugman takes delight in raining on the economy's parade, predicting that a double dip was imminent. In fact, the article is entitled "Dubya's Double Dip?"

Compare that to Krugman's unbelievably wrong prediction, made in 2009, that President Obama's stimulus will cause unemployment to dip to 7.6% by the beginning of 2011:

By my calculations, the Obama plan is supposed to reduce average unemployment over the next two years from 8.7% to 7.6%.

[Graewoulf]

Wow! Krugman needs to call on destruction to stimulate construction!

With that kind of logic the destruction of 4 Trillion dollars by Professor You Lie, Spend-all-the-Reserves-Ben, and Sheriff of Nottingham Timmy Gee, should have really “stimulated THE ECONOMY. “

Well, THE ECONOMY hasn’t been stimulated YET, but it sure did stimulate “ The Silent Majority “ to find its vocal chords through THE TAXED ENOUGH ALREADY PARTY !

[FroggyTheGremlim]

Krugman is a complete idiot. And so is the Nobel Prize Committee.

[Fido969]

Paul Krugman: The Great Unravelling Author.

[Fido969]

Paul Krugman: The Great Unravelling Author.

[Hotlanta Mike]

Nobel has lauded a number of failures, including one that currently occupies the White House. Peace Prize, for what? The guy has launched wider military action than his predecessor...

[Darksheare]

What is that thing on his head?

[Conservative Infiltrator]

You know, Krugman is an interesting case. He reminds us that the ability to create elaborate mathematical models (he’s brilliant at that) is not the same as the ability to write prescriptions to fix what ails the economy. He mostly won his Nobel for his New Economic Geography model, which is very well done and rather useful. Lately, his academic work is getting increasingly. . . odd. Last year, he published an article outlining a theory of interstellar trade. That’s right, interstellar.

I wonder if we are seeing another Noam Chomsky in the making: a once brilliant mind going off the rails?

[wildbill]

This is worth summitting to the Times Op-ed and if not published there, submit to the Letters to the Editors, and if not published there, take it to their interactive reader forum.