... there are reasons to think that we’re finally on the (slow) road to better times....
Why am I letting a bit of optimism break through the clouds? Recent economic data have been a bit better, but we’ve already had several false dawns on that front. More important, there’s evidence that the two great problems at the root of our slump — the housing bust and excessive private debt — are finally easing.Krugman has no clue as to how the economy operates. He simply sees the data in front of him and reacts to the data. He has no theory that can signal him in advance before the data change. Indeed, he is setting himself up for another fall, if Bernanke slows money growth. Since he says this time the uptick, unlike previous upticks, is real.
It's all up to Krugman's buddy Bennie, though. No guarantees here. Bennie is as erratic as they get. My guess is that Bennie bought more green ink and intends to use it, but you never know with Bennie.
Bottom line: Krugman has no clue. He is an embarrassment to the economic profession, as are all Keynesians.
He didn't spot the turnaround, early on.
He didn't understand the backdoor money printing that Mario Draghi signaled would be going on at the ECB.
And, the man was worrying about price deflation, just months before we are about to get hit by a massive wave of price inflation.
Take note: Krugman is the clueless one bashing the Austrian Business Cycle Theory, when correct application of ABCT would have never led one into the absurdity of declaring depression just weeks ago..
Krugman has been destroyed, yet again.
ReplyDeleteKrugman is nothing but a hack for the Democrat party. He knows that people vote on how well the economy is doing. So expect him and the rest of the lamestream media trumpet how well the economy is doing for the next 10 months.
ReplyDeleteKrugman is either ignorant or evil...I think he's an evil little leftist liar.
ReplyDeletehttp://cnsnews.com/news/article/under-obama-price-gas-has-jumped-83-percent-ground-beef-24-percent-bacon-22-percent
ReplyDeleteNo inflation just as Krugman has stated...as long as you don't count food or gas...
"Krugman has no clue as to how the economy operates. He simply sees the data in front of him and reacts to the data."
ReplyDeleteThat's exactly what you do, and what everyone does. You just react to different data. You react to money printing data, Krugman reacts to inflation, employment, and other data.
"He has no theory that can signal him in advance before the data change."
If you are "signaled" by something, then that something must be information, i.e. data. You can't be signaled in advance of data changing before the data changes. For what is the content of the signal? It must be...data!