Posted on 06/27/2022 7:50:57 AM PDT by JV3MRC
New York Times economics columnist Paul Krugman made another damning admission this past week about his sordid record analyzing economics as inflation continues to bite chunks out of Americans’ wallets.
Krugman conceded in a June 23 op-ed that “[i]n 2021, U.S. policymakers, like many economists, myself included, badly underestimated inflation risks.” But Krugman attempted to shield his loss by wokescolding analysts who predicted economic calamity arising from President Joe Biden’s leftist stimulus policies. “Sado-monetarism is having a moment,” Krugman wrote. “[S]uch people have just had a good year: the inflation they’ve always warned about finally materialized.” Krugman defined his arbitrary slur “sado-monetarist” as “a person who always seems to demand higher interest rates and fiscal austerity, regardless of the state of the economy.”
Krugman attempted to further cushion his admission by juxtaposing his supposed virtue and the alleged lack of virtue of those who predicted runaway inflation under former President Barack Obama, a totally unrelated matter. “Back in the 2010s very few of those who wrongly predicted runaway inflation ever admitted having been wrong,” Krugman wrote.
(Excerpt) Read more at newsbusters.org ...
Also, gasoline has come down around here. Touched $5 briefly about a month ago. Now, I am seeing it @ $4.69 this morning.
My biggest concern is the cost of electricity in NH going from $.11/KHW to $.22/KHW by the end of this year. I am already closing bedroom doors upstairs when I turn on the window AC unit.
I know a woman who voted for Biden because she didn’t like Trump’s tweets. Tried to explain to her if you print more money inflation would follow.
I used an analogy: if you had eggs to trade and everyone else only had apples, you’d demand a whole lot of apples for just a few eggs since there were too many apples out there.
She said that doesn’t make sense, because when the government prints more money then you have more of it and everyone would be rich.
“Whatever happened to the Trump depression he was certain would happen “?
He’s waiting to blame Trump for Biden’s upcoming crash.
You miss that, I’m saying, how can we respect anything he says? Kind of a big one there, little man.
So what exactly is he good for?
The left is wrong on so many issues. They have no credibility.
Whatever happened to the Trump depression he was certain would happen ?
It will be here next year, and Trump will be blamed for it.
Krugman...the eternal idiot.
He has literally never been right about economics, and yet he’s the left’s guy on economics.
If they took a snippet from his Nobel medal every time he was wrong, he would be left with a ribbon.
Krugman is wrong about everything, always. How’d this guy get a Nobel prize, and why does anybody still listen to him?
Gee, ya think?
This leftist hack gets everything wrong.
Why does he admit being wrong THIS time?
Has this man EVERY made an economic prediction that has been right? HONESTLY... can anyone cite me any time his predictions have been?
When was he right ever?
“So what exactly is he good for?”
Krugman is a part of the critical US raw material that we export to countries all over the world....
Propaganda and &^%$)(*&.
Also, gasoline has come down around here. Touched $5 briefly about a month ago. Now, I am seeing it @ $4.69 this morning.
My biggest concern is the cost of electricity in NH going from $.11/KHW to $.22/KHW by the end of this year. I am already closing bedroom doors upstairs when I turn on the window AC unit.
0bama, he was covering for FJB till it was IMPOSSIBLE to hide
Krugman telling the world he was wrong is like announcing the sky is blue
That’s my take too - ‘has Krugman ever been right’? Not that I remember.
Krugman’s lucky to work for the MSM - a group that doesn’t give a damn how often ‘one of their own’ is wrong.
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