Posted on 08/12/2022 8:38:20 AM PDT by JV3MRC
Disgruntled New York Times economist Paul Krugman is clearly willing to sink his career further into the reputational abyss by mudding semantics to save President Joe Biden’s hoax that we had zero inflation in July.
The failed “Team Transitory” apologist Krugman published a new op-ed spinning that “President Biden declared, accurately, that we had zero inflation in July.” He whined that “many on the right accused [Biden] of lying, because prices in July 2022 were 8.5 percent higher than they were in July 2021. Do they not understand the difference?” To be “fair, sloppy business reporting may have contributed to their confusion,” Krugman wrote.
Krugman touted the unchanged month-to-month inflation figure, and pontificated that he saw “many headlines to the effect that ‘inflation was 8.5 percent in July,’” before proceeding to spew nonsense at conservatives for their supposed ignorance of Krugman’s gaslighting. “The more fundamental issue, surely, is that it’s difficult to get people to understand something when their sloganeering depends on their not understanding it,” Krugman griped.
Apparently Krugman doesn’t understand that the month-to-month rate means that the “rate of inflation” in July was unchanged, not that there was “zero inflation in July.” Even anti-Trump pollster Frank Luntz called such gaslighting on inflation "a destruction of the meaning of words."
Krugman even monikered the unchanged month-to-month rate figure as the “Big Zero."
(Excerpt) Read more at newsbusters.org ...
Krugman more often than not is off his meds.
Krugman — what a rhymes-with-chuckhead!
The RATS are driving Paulie crazy. That’s a good sign.
Paul Krugman is merely a political hack that has a degree in economics. His true trade is lies.
There was Zero CHANGE in inflation in July. Not Zero inflation.
hey Krugman, how does it feel to turn yourself into a pretzel defending communist lies?
If there is no inflation, why on earth did they pass Biden’s $369 Billion “Inflation Reduction Act” last week?
in simpler terms, Inflation REMAINED at 8.5%
Paul Krugman has no credibility.
Like spending your way out of debt.
If your $100k house is going for $250k, or your $200k house is going for $500k over the last few years, the house has not gone up in value. The dollar has dropped to about 40% of its former value.
Inflation does not affect everything at once to the same extent. Milk doesn’t immediately double, but it eventually does double. Gasoline and electricity don’t immediately double, but eventually they do double. Wages are the last to rise, but they eventually do rise if you don’t invite a million new workers to depress wages, or offshore your manufacturing to low cost countries.
You can’t print money like there is no tomorrow, or run trillion dollar deficits, or shut down the economy for a year while printing money to bridge the gap, without paying the cost down the road.
Krugman and the rest can argue whether real inflation went up by half a point or down by half a point, whether actual inflation is really at zero, or whether the recession started this past quarter or is yet to begin. What people are going to look at is $3 a dozen eggs, beef prices, gas prices, housing costs, whether they’re done shopping for school clothes, things like that. That’s what matters to them now, and that’s what they’re going to be looking at in November.
https://www.youtube.com/watch?v=A25EUhZGBws&t=14s
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