A Greater Problem Than Krugman's "Financial Bankruptcy"

The tongue in cheek report by Daily Currant that Paul Krugman has filed for the personal bankruptcy has found its way back to the New York Times organization as fact. Yes, the organization that Paul Krugman works for has published his bankruptcy as the real thing.

Boston.com, which is the online presence of the Boston Globe (which is owned by NYT) reports:

Paul Krugman, the king of Keynesianism and a strong supporter of the delusion that you can print your way out of debt, faces depression at his very own doors.

Sweetest of all, Boston.com used an Austrian magazine as its source:

According to this report in Austria's Format online mag, Krugman owes $7.35 million while assets to his name came in at a very meager $33,000. 

Krugman is out with a blog post at NYT denying that he is bankrupt. He attempts to link the right wing to the false report, failing to take note that Boston.com is in on the act:

 I decided not to post anything about it [at first]; instead, I wanted to wait and see which right-wing media outlets would fall for the hoax.

And Breitbart.com came through!

Satire  aside, there is an important sense in which Krugman really is bankrupt. He is intellectually bankrupt. He regularly posts dishonest and misleading blog posts. Further, he readily admits that his Keynesian view of the economy is based on a babysitting coupon co-op story. It is a story where he incorrectly views the coupons as money (see  here and here,) and from there spins an entirely incorrect understanding of the economy.

So maybe he does have a few dollars stashed away, but his mind is mush.