Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

Skip to comments.

PAINFUL: Paul Krugman Admits He ‘Badly Underestimated Inflation Risks’
NewsBusters ^ | 6/27/2022 | Joseph Vazquez

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 ...


TOPICS: Business/Economy; Government; Politics
KEYWORDS: blogpimp; economy; inflation; krugman; newyorktimes; nyt; paulkrugman
Navigation: use the links below to view more comments.
first 1-2021-4041-6061-8081-82 next last

1 posted on 06/27/2022 7:50:57 AM PDT by JV3MRC
[ Post Reply | Private Reply | View Replies]

To: JV3MRC

Why anyone listens to guys like Krugman is a never-ending mystery to me. Is he ever right about anything? I mean, who couldn’t see inflation coming ten miles away?


2 posted on 06/27/2022 7:52:22 AM PDT by Antoninus (Republicans are all honorable men.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: JV3MRC

has krudman ever been right?


3 posted on 06/27/2022 7:53:01 AM PDT by teeman8r (Armageddon won't be pretty, but it's not like it's the end of the world or something )
[ Post Reply | Private Reply | To 1 | View Replies]

To: JV3MRC

Only a PhD or politician or moron ( but I repeat myself) would think that money printing isn’t a recipe for disaster.


4 posted on 06/27/2022 7:54:49 AM PDT by Seruzawa ("The Political left is the Garden of Eden of incompetence" - Marx the Smarter (Groucho))
[ Post Reply | Private Reply | To 1 | View Replies]

To: JV3MRC

What a maroon.


5 posted on 06/27/2022 7:55:06 AM PDT by Sans-Culotte (11/3-11/4/2020 - The USA became a banana republic.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: JV3MRC

Sorry, but he should really trust his own opinions. He’s a Nobel prize recipient. /sarc


6 posted on 06/27/2022 7:55:35 AM PDT by cotton1706
[ Post Reply | Private Reply | To 1 | View Replies]

To: JV3MRC

Whatever happened to the Trump depression he was certain would happen ?


7 posted on 06/27/2022 7:55:43 AM PDT by XRdsRev (Justice for Bernell Trammell, Trump supporter, murdered in 2020)
[ Post Reply | Private Reply | To 1 | View Replies]

To: JV3MRC

give us the short list

what has he gotten right?


8 posted on 06/27/2022 7:57:21 AM PDT by joshua c (Dump the LEFT. Cable tv, Big tech, national name brands)
[ Post Reply | Private Reply | To 1 | View Replies]

To: JV3MRC

“Sado-monetarism”

I don’t even pretend to understand that.


9 posted on 06/27/2022 7:58:08 AM PDT by Carriage Hill (A society grows great when old men plant trees, in whose shade they know they will never sit.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: JV3MRC

Keynesians always fail.

Always.

Krugman is a die hard Keynesian. Famous for being wrong, then doubling down. “Spend more money!” is his universal prescription to countries. “Deficits don’t matter!” is another.

Not working? (duh)
“Spend more!”


10 posted on 06/27/2022 8:02:18 AM PDT by Basket_of_Deplorables (Putin is behaving rationally.The war is on Biden and Obama. )
[ Post Reply | Private Reply | To 1 | View Replies]

To: JV3MRC

Krugman is a political propagandist. Nothing more.

his errors are revealed regularly to anyone paying attention - but that’s the thing, his purpose is merely to spout the party line of the day, for people who only want the party line of the day.


11 posted on 06/27/2022 8:03:27 AM PDT by PGR88
[ Post Reply | Private Reply | To 1 | View Replies]

To: JV3MRC

Inflation obviously needs a new definition. That’s how all the other problems are dismissed. Feces is now “transitory nutrition” in Beltway-Speak.


12 posted on 06/27/2022 8:04:31 AM PDT by blackdog (Cooler King Joe, killing a winning nation every day. )
[ Post Reply | Private Reply | To 1 | View Replies]

To: JV3MRC

Krugman is the most mistaken economist on record.

But that is who wins Nobel Prizes....party loyalists.


13 posted on 06/27/2022 8:04:42 AM PDT by Erik Latranyi (We are being manipulated by forces that most do not see)
[ Post Reply | Private Reply | To 1 | View Replies]

To: JV3MRC

The thing is that inflation has been around since the stimulus started. It was just focused on stocks because a lot of the stimulus money ended up playing the market. Then it moved into housing and finally in the past year it exploded in the general consumer goods. Add to that the supply shock of Biden’s anti-energy policies and boom: lots of general inflation.


14 posted on 06/27/2022 8:05:32 AM PDT by KarlInOhio (If Hitler invaded Hell, I would make at least a favourable reference of the Devil...-Churchill)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Antoninus

Monkeys at keyboards do better than “economic experts” like Crud man.


15 posted on 06/27/2022 8:05:56 AM PDT by cgbg (A kleptocracy--if they can keep it. Think of it as the Cantillon Effect in action.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: Antoninus
"Why anyone listens to guys like Krugman..."

Because he's reliably 180o out of phase with reality so, in a sense, he's always right... sort of...

16 posted on 06/27/2022 8:06:23 AM PDT by LIConFem (Read up on Russia's Oct, 1917 Revolution... And prepare.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: JV3MRC

Went to the grocery store after church yesterday. Shopping for cart for two people $245.

One thing that DID go DOWN in price was Ribeye Steaks.
$8.99/pound in the wrapped packages. $10.99 in the butcher cuts section of the store. So, we bought two and cooked them on the grill.

Ribeyes are my favorite. So, I always check the price. They got up to $18.99 a few months ago. Fancy butcher shops around here got up to $24/pound. However, a 32 oz container of FAGE Greek yogurt was $6.99. This was $4.99 a year or so ago. Clorox bleach was $3.99/gallon. Used to be $2.99/gallon.


17 posted on 06/27/2022 8:07:13 AM PDT by woodbutcher1963
[ Post Reply | Private Reply | To 1 | View Replies]

To: JV3MRC
New York Times economics columnist Paul Krugman: "My bad! Sorry!"

Regards,

18 posted on 06/27/2022 8:07:39 AM PDT by alexander_busek (Extraordinary claims require extraordinary evidence.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Antoninus
Why anyone listens to guys like Krugman is a never-ending mystery to me. Is he ever right about anything? I mean, who couldn’t see inflation coming ten miles away?

This "Nobel Prize" winner in economics, Krugman, has a long history of being wrong. If he tells you that the wx today will be sunny and warm, take an umbrella and wear an overcoat when you leave the house.
19 posted on 06/27/2022 8:09:52 AM PDT by Signalman
[ Post Reply | Private Reply | To 2 | View Replies]

To: Basket_of_Deplorables
Keynesians always fail. @

Even Keynesians would shake their heads at the last 50 years. Spend more during bad times and spend even more during good times. The only time we got close to a Keynesian surplus to pay down the debt was during Clinton's term when Republicans won Congress and new spending programs ground to a halt.

20 posted on 06/27/2022 8:09:56 AM PDT by KarlInOhio (If Hitler invaded Hell, I would make at least a favourable reference of the Devil...-Churchill)
[ Post Reply | Private Reply | To 10 | View Replies]


Navigation: use the links below to view more comments.
first 1-2021-4041-6061-8081-82 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson