Posted on 12/16/2021 8:27:55 AM PST by JV3MRC
A tectonic shift in the world of economics has taken place: New York Times economist Paul Krugman finally admitted that his detractors on inflation were right all along.
The leftist economist surprisingly conceded in a new op-ed that others have warned “that we may face something comparable to the stagflation of the 1970s. And credit where credit is due.” Then came the sticker shock: “So far, warnings about inflation have proved right, while Team Transitory’s predictions that inflation would quickly fade have been wrong.” Talk about eating crow. Krugman recently conceded Nov. 14 that he “got inflation wrong” even though he tried to hedge by claiming he thought blindly believing the false “transitory” inflation narrative was “still the best bet.” His latest concession puts him even further at odds with his Nov. 11 column: “History Says Don’t Panic About Inflation.”
(Excerpt) Read more at newsbusters.org ...
Like any NYT employee, Krugman is partisan to the hilt. He will ignore reality, fabricate data, and flat out lie to support the Democrat party.
In short, anyone who pays attention to Krugman is making a mistake.
PK is clearly someone in need of an Ig Nobel Prize.
Krugman seems to eat more crow than anything else.
Most Marxists never concede an inch, even when proven wrong. It is very unusual for a commie like Krugman to admit being wrong about something. He is probably now taking alot of criticism for not towing the party line 100%.
Not to completely judge Krugman, but it’s to his credit that he’s “adjusted his sails” (a term used by Ted Kennedy).
Krugman is a low life partisan with an agenda posing as an economist. The only thing he knows less of than sound public policy is economics. He has never been right about anything
He’s always been Keith Olbermann without the fangs.
Now do deficits Paul. Still minting those trillion dollar coins?
Why does ANYONE listen to this guy anymore?
I always ignore every word by far-left socialist/communist Democrat economists (even if they have fifty gazillion Nobel Prizes & other prestigious economics awards). Paul Krugman has been wrong over and over and over again ... did I mention Krugman is wrong a lot? But congrats to him for winning the economics Nobel Prize; he deserves it. Every economist who is repeatedly wrong should win the Nobel. Especially if he loudly, publicly trumpets his almost-always wrong economic predictions.
I especially enjoyed that the Nobel winner Krugman publicly advised everyone to blindly believe the "transitory" inflation story was "still the best bet." I agree with the genius Nobel-winner Krugman that, in economics, it's always wise to blindly believe stuff. Hmmm ... maybe that's how you win the Nobel Prize ... by blindly believing stuff. I hereby declare I blindly believe everything the comically incompetent, senile Sleepy Joe says in his teleprompter speeches written by his handlers. Now when do I get my Nobel Prize?
It amazes me that anyone listens to him. He puts the narrative above the data every time but so does his network/employer.
Yes.
Wait a minute!!! Didnt Brandon say the exact same thing??? Where tf does he stand now?
Same goes for anyone who listens to Fauci.
For somebody who won a Nobel prize in economics he seems to have forgotten the basics of the subject.
Has he ever been right?
While we’re at it, I’d once again like to congratulate you (krugman) on the fine job you did when advising Enron.
they raised the minimum wage, which pushed up the wages of everyone just above that also.
Heck, local chic fil a is paying $15 an hour to those kids who stand in line and take your order!
you think the guy working himself to the bone on the construction site is going to take less than that? it drives up the wages of everyone, which is then passed on to the consumer in the form of higher prices.
*PRESTO!* inflation.
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