A similar disconnect between overall growth and individual experience seems to lie behind the public’s lack of enthusiasm for the current state of the economy and its disdain for the 2017 tax cut. G.D.P. numbers have been good in recent quarters, but much of the growth has gone to soaring corporate profits, while median real wages have gone nowhere.
THEN RECOMMENDS THIS INSTEAD:
We need “distributional national accounts” that track how growth is allocated among different segments of the population.
Didn’t this guy predict a total collapse of the economy under Trump?
So I wonder why he wasn’t offering this wisdom to Obama? Probably because he knew Obama likely had his mother and his grandparents writing his teacher notes to excuse him from doing his homework and other ordinary school activities that were below the young Messiah’s level.
Why wasn’t this necessary during the Obama administration, when the economy was growing at 1% annually?
Solution: Make up new statistics and game them to tell a sad story.
Over 4% GDP; record low unemployment; mines reopening; factories reopening; factories being moved to the US
But we need to know the rest. Ok Paul!
Between 2008 and 2016 the media did a good job explaining how bad news was really good news. I wondered “but is good news ever bad news?” Thankfully since Nov 2016 they’ve been doing a fantastic job explaining how really good news is actually terrible scary news.
When they lose, they change the standard.
Trump won the electoral vote which is the established standard. But since Hillary won the popular vote, we should go by the popular vote count.
They get you coming and going.
Someone needs to search Krugmans’ archives and see how many times he praised Obamas’ and Clintons’ GDP numbers.
I’m drying plumbs today and haven’t got time to read Klugman’s pretzel economics.
Isn’t this the genius who said Trump would destroy the economy
This must be the new orchestrated meme.
Robert B. Reichhhhhhhh wrote a virtually identical piece the other day.
Don’t look at the strong growth numbers, look at how many left-handed minority transsexual teenagers don’t get their minimum daily requirement of Niacin every day.
Krugman,”Hi, I am cranium....richard cranium.”
The stopped clock is right twice a day. I hate to say it, but Krugman is right about the nature of our economic metrics.
The indiot Krugman has been so wrong so many times that if Pravda on the Hudson was really a respectable newspaper they’d be embarassed to host anything Krugman says; but alas if Pravada on the Hudson was ever respectable those who knew it to be so have long since passed away.
poor Paul. a failed writer at a failed paper.
Wasn’t this twit one of the people talking about how great and wonderful Obama was for our economy? When Obama’s dismal 1% annual growth was occurring, was he suggesting that we needed a different set of statistics to demonstrate how WONDERFUL that growth was?
But now, NOW, with record growth, we need some secondary statistics to prove how BAD this growth IS?!?
If Paul Drugman told me it was raining, on a rainy day, I would still go outside and stand in the rain to verify!!