PAINFUL: Paul Krugman Admits He ‘Badly Underestimated Inflation Risks’

NewsBusters ^ | 6/27/2022 | Joseph Vazquez

[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?

[teeman8r]

has krudman ever been right?

[Seruzawa]

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

[Sans-Culotte]

What a maroon.

[cotton1706]

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

[XRdsRev]

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

[joshua c]

give us the short list

what has he gotten right?

[Carriage Hill]

“Sado-monetarism”

I don’t even pretend to understand that.

[Basket_of_Deplorables]

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!”

[PGR88]

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.

[blackdog]

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

[Erik Latranyi]

Krugman is the most mistaken economist on record.

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

[KarlInOhio]

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.

[cgbg]

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

[LIConFem]

"Why anyone listens to guys like Krugman..."

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

[woodbutcher1963]

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.

[alexander_busek]

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

Regards,

[Signalman]

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.

[KarlInOhio]

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.