Posted on 02/14/2022 10:13:20 AM PST by JV3MRC
New York Times economist Paul Krugman must be a glutton for punishment. He’s gone from spending months downplaying the surging inflation threat, to admitting he was wrong on inflation, to now dismissing it altogether as a crisis.
Krugman appeared on the Feb. 11 edition of Bloomberg TV’s Balance of Power to discuss how the Federal Reserve shouldn’t use “shock therapy” when it comes to finally raising interest rates from zero. After conceding that there was “underlying overheating” in the economy that demands the Fed consistently raise rates to fight off inflation, Krugman then spiraled into spewing utter nonsense: “It’s not a crisis.” That’s an asinine way to characterize inflation hitting the highest level in 40 years (7.5 percent). But Krugman didn’t stop there: “I don’t see any sign yet that inflation has gotten entrenched in the economy.”
(Excerpt) Read more at newsbusters.org ...
LMAO Krugman is literally known for being the most wrong economist on everything.
This guy Krugman is a buffoon. Why would anyone with any economic sense take his advice?
Krugman. Nobel prize winner in the ‘Always getting it wrong’ category.
The Nobel Prize has been a meaningless award for many years. The committee even gave one to Krugman, a village idiot who has been wrong about *everything*
If Krugman says not to worry then it’s already too late.
Here’s his take on if President Trump: So we are very probably looking at a global recession, with no end in sight.
Krugman’s an idiot. The Nobel committee must have been drunk.
What have we really learned about economics? What do we know? Beyond “supply and demand”, I don't think we know much. We still have business cycles, recessions, depressions, inflation, and bubbles. I see no real economic progress. We have increased production — but that's Engineering, not economics.
I think “economics” is simply a subset of political science. It is a tool. A tool of political persuasion. Basically: “I want you to do something, and I will toss numbers at you until you behave the way I want you to behave. I cannot control markets, but I can control you.”
Krugman says whatever he needs to say to bend social forces in the direction his masters want them bent. This is not like High Energy Physics where the numbers actually mean something and the experiments can be replicated. Economics? No. No such thing. This is 100% politics. In all cases.
Krugman is always spouting nonsense.
It would be newsworthy if he ever made sense.
He must be one of the "Nobel Laureates" that Biden claims to have spoken to.
What an idiot.
Krugman is one of these insulated elites which Thomas Sowell describes as never having to pay a price for being incessantly wrong.
I think that was the same idiot that predicted a stock market crash for a trump win and just the opposite happened 🤪
Nice take on economics.
What Krugman does is political.
The methodology used to compute the Consumer Price Index has been changed two times since 1980. It was changed in 1980 and again in 1988. Mark Levin quoted an economist who caclulated what today’s CPI would be using the older methods. Inflation is now roaring in the double digit range, about 10% to 15%.
He must suck some good d*ck in order to keep his job, despite being so inaccurate all the time.
What comes after crisis? Because that’s likely how bad it’s gotten. Fubar maybe?
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