Posted on 11/16/2021 10:14:55 AM PST by JV3MRC
New York Times economist Paul Krugman appears to have finally admitted defeat on the issue of inflation, adding another notch to his belt of being consistently wrong on economic issues.
In a shocking Tweet, Krugman conceded: “I got inflation wrong; I didn't see the current surge coming. But why? I didn't think the fiscal stimulus early this year would boost demand as much as [economist Larry Summers] et al predicted.”
(Excerpt) Read more at newsbusters.org ...
Krugman is a student of Galbraith, who was also consistently wrong. And Galbraith was a big proponent of government assistance and socialism in general.
The malignant dwarf fails again.
Hey Paul, when more money chases fewer goods the general price level does what?
+++++
Thank you.
Most people here are missing out on the FEWER GOODS part of the equation. Oil and gas shortages are the most obvious examples. Empty shelves are empty for a reason.
- the enjoyment of power and a strong wish to have more of it
- a mental illness in which someone believes they are very important and powerful when they are not & more important and powerful than they really are
dunning-kruger effect:
- people who believe that they are very smart when they are not, and smarter than they really are
bkmk
The first thing he got right is that he admitted he was wrong!
Dunning–Kruger writ large
It wasn’t the stimulus, Paul, it was ending the lockdowns in red states! You still have it wrong!
Duh... We know that Paul.
You are just glorified economic Leftist that always gets it wrong. This is because your politics is your religion.
If our futures were left to people like this, including the whole of the faculty of the Harvard and Yale law schools, we'd be in deep, deep trouble - as these are not very impressive or insightful people. Some are OK, some even exceptional, but most are just cookie cutter products of a self-perpetuating oligarchy of the self-convinced.
In a shocking Tweet, Krugman conceded: “I got inflation wrong; I didn’t see the current surge coming. But why? I didn’t think the fiscal stimulus early this year would boost demand as much as [economist Larry Summers] et al predicted.”
Whaaat?
The Village Idiot just had a piano fall on him.
When do we hear from the Berkeley Dwarf?
Paul Krugman Admits, ‘I Got Inflation Wrong’
...along with EVERYTHING ELSE EVER.
But what about the empty space I have in my office Wal ?
He won the Nobel Prize in Liberal Orthodoxy. :)
Krugman is a PhD and a scholar? I have rarely seen someone miss this bad. Hell, he makes Al Gore look smart!
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