Posted on 01/18/2018 9:56:24 AM PST by Quilla
Paul Krugman, who really, really, really wants you to know on his Twitter account that he's a Nobel laureate in economics, has made a name for himself for his bad economic forecasts.
So bad, in fact, that President Trump and the Republican Party have awarded him their top spot in their 2017 Fake News Awards, writing:
[Twenty seventeen] was a year of unrelenting bias, unfair news coverage, and even downright fake news. Studies have shown that over 90% of the media's coverage of President Trump is negative.
(Excerpt) Read more at americanthinker.com ...
LOL...”Beclowns”!!!!!!!
“Ignorant” means you don’t know a thing.
“Stupid” means you don’t know a thing you should know.
I’ll let the reader decide which one he is.
Yes he’s an idiot, but bitcoin and other cryptocurrencies are really the way ahead for all of us.
You can’t counterfeit it like you can hard currencies. Yes you can manipulate a young market...that’s always the case.
Why I hope it catches on is that politicians can no longer run their ponzi schemes like Social Security by just printing more money. It’s kind of like going back to a gold standard.
...AND FAKE.
What an ass. In the article, he relates how Krugman didn’t know that Bitcoin was susceptible to “manipulation”.
Geez. I am a relative ignoramus about investing and currency, and I knew that when I first laid eyes on it.
Just wow.
He is the guy that someone would go up to in high school, point at his crotch and say “Hey Krugman...your underwear is on backwards!” and when he immediately looks down, swipe upwards with their finger to whack him under the nose.
Strictly speaking what Krugman published was opinion and not news. As for the accuracy of his opinion, well, there’s a reason why economist have successfully predicted thirteen of the last three recessions.
A Nobel Laureate in physics, or the other sciences is something worth respect. (So far, at least.)
A Nobel Laureate in any of the marshmallow social sh*tpits is worth, well, worth about one of Krugman’s forecasts, or worth one CNN evening broadcast.
I’m getting my phd (piled higher and deeper) in Fat Studies.
President Trump’s 2017 Fake News Awards!: The site below will take about a minute to appear due to high demand.
“Beclowns” ... what a great word.
In reality, it has no more backing than the US dollar as values for both are based on confidence and volume. Bitcoin is extremely volatile because a relatively few amount of people are buying and selling it. And all know it is very high risk.
And Bitcoin isn't the only cryptocurrency out there. One of them will eventually become a standard of some sort.
I mean I can’t stand Krugman, but this article is weak sauce. It points out his election night market call, which was famously bad, but that’s not what the article is about.
His Bitcoin comment was perfectly reasonable. And the hysterical take on it in the article frankly makes Krugman look better.
It is time to assert the record as established by the brilliant economist J. Orlin Grabbe. He established in the late 90’s the Digital Monetary Trust and the currency called the Rand (named for Ann Rand)
Unfortunately he died and with him the project died.
Bitcoin is an echo of the Digital Monetary Trust and the Rand
https://en.wikipedia.org/wiki/Digital_Monetary_Trust
Sounds like you think it would be a great thing to undercut the U. S. Dollar.
The way to stop the deficit spending is to spark the economy and reduce spending. That is exactly what Trump is doing, and that will make our nation stronger, not weaker.
Undercutting the dollar would be national suicide.
We agree 100%. I am buying $100 Bitcoin. I also buy lottery tickets now and then. I kick myself because I almost bought $100 worth of Bitcoin 2 years ago.
Bitcoin does not undercut the US dollar. You are thinking of the federal reserve and the US governments printing press.
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