Krugman, Who Is Paid $25,000/Month To Study Inequality, Says "Nobody Wants Us To Become Cuba"

zero hedge ^ | 4/17/14 | Tyler Durden

[Nachum]

When it comes to Krugman's views on any particular topic, he may be right and he may be wrong, but whatever his opinion he always has a much to say about it (even if the factual backing is of secondary importance or outright missing). Today, his chosen topic is inequality, and in an interview with Bloomberg's Tom Keene, shown and transcribed below, he certainly says much, encapsulated perhaps by the following gem:

"There's zero evidence that the kind of extreme inequality that we have is good for economic growth. In fact, there's a lot of evidence that it is actually bad for economic growth. Nobody wants us to become Cuba. The question is, do we have to have levels of inequality that are getting close to being the highest levels ever anywhere. We're really starting to set new records here. Is that a good thing for anybody? If you look at our own history, it's not true. The fact of the matter is since inequality began soaring around 1980, the bottom half of America has been pretty much left behind. It has not been a rising tide that raised all boats."

Ah yes, inequality, the same inequality that the Fed - Krugman's favorite monetary stimulus machine, after all it was none other than Krugman who suggested that in order to offset the bursting of the tech bubble the Fed should create the housing bubble - has been creating at an unprecedented pace since it launched QE. Just recall: "The "Massive Gift" That Keeps On Giving: How QE Boosted Inequality To Levels Surpassing The Great Depression."

So while Krugman is right in lamenting the record surge in class divide between the 1% haves and the 99% have nots, you certainly won't find him touching with a ten foot pole the

[Nachum]

What's that smell?

Oh, somebody made a 'Krugman'

[Gay State Conservative]

For some time my attitude toward Krugman has been...”if Krugman says it's true,it's false.If Krugman says it's false,it's true”.

[OrioleFan]

“Nobody wants us to become Cuba.”

Krugman should talk to his buddy Obama. That’s where Zero wants to take us.

[Pining_4_TX]

I still say Krugman found his econ degree in a box of Cracker Jacks

[MadMax, the Grinning Reaper]

NOTICE that Krugman says the “inequality” began in 1980.

Now, who was the President in 1980, and whose regime created economic chaos from 1977-1980’s?

Calling Jimmy Carter. Your farm patch needs another nut.

[Ramius]

Well, Mr. Krugman,

An economy can have either equality, OR freedom. Discuss.

[GOPJ]

“Nobody wants us to become Cuba.”

Odd that in all the years Reagan was President NOT ONE PERSON made that comment...not one person said 'nobody wants us to become Cuba'. It was never said when Kennedy was in office or even Bill Clinton.

What's Krugman's next gem? That "nobody' want the United States to be a police state? Or that democrats don't want to put Republicans in re-education camps...

The guy's creeping me out...

[originalbuckeye]

Gosh, and I was absolutely sure that Obama wanted us to be exactly like Cuba......hmmmmmmmm.

[jdsteel]

I used to have the tagline “Paul Krugman is ALWAYS wrong”. However, I’ve noted a couple of times in the last 20 years where he actually was right on something. Just don’t ask me what it was; I don’t remember.

[VRW Conspirator]

If economics is the chemistry of money, then Krugman is an alchemist.

[Texas resident]

Plus, when a person is getting paid 25k a month, he can afford to spew communistic ideas.