Thursday, March 18, 2010

Schiff versus Krugman

In the below clip, Peter Schiff absolutely destroys Paul Krugman's thinking on the current state of international trade between the U.S. and China. Peter on a short-term basis is much more negative on the prospects for the dollar, but beyond that we are  in complete sync. Nice job, Peter.

Oh yeah, Krugman responded, here.

There are two things to note about this "response".

1.  Krugman fails to link to Schiff's actual video. I think he knows he doesn't have answers for Schiff's attack.

2. What Krugman does do is link to a Google search of Schiff's hyper-inflation warnings and then point to a chart that shows the inflation hasn't started yet.

This is the most absurd argument I have ever seen. It is Krugman posing rather than answering the charges that Schiff raises. Answer me this, Paul baby, how is this different from linking to a Google search of Schiff's warnings about the real estate collapse, just before the collapse started, and pointing to a chart that shows housing prices going up, up and away? Would this, at that time, somehow prove that Schiff was wrong about the real estate collapse? Forgive me, Paul, but this isn't argument by you it is,  I'll say it again, trailer trash posing by a guy with a half fried brain an   misisng teeth,  who has a beer in a paper bag as he pontificates to a guy with a three-quarters fried brain.

Be a man, Paul

Link to Schiff's video and take it apart piece by piece, if you can. Show us what your mind is made of.

Bottom line, as Bob Murphy points out, who sent me the link to Krugman's piece:
Krugman sets himself up to be another "famous pundit who ridiculed Peter Schiff just a bit too early..."


  1. I think Paul gets mad when people say his name KRUGman instead of KrOOGman. (I'm not kidding, I really think he does.)

  2. Wenzel,

    It's also funny that Krugman cites the Fed's inflation numbers as some kind of proof in a dispute involving the Fed. It'd be like Schiff citing "Peter's Hyperinflation Index" that is rocketing through the roof, that he could point to and say, "Look, I am right!"

  3. @Bob Murphy

    I think you are right. I almost added it to my post, but left it out figuring my toothless trailer trash comment was enough.

    But, now that you bring it up, he is living in America where the common pronuciation would be KRUGman. He should get over it or change his name to Marx or something.

  4. Ok maybe the Austrians should man up. At what point will you guys admit you are wrong? If we don't have hyperinflation for 10 years, 20 years, 30 years, will you finally admit you were wrong? How about 50? Is there any point in which you admit you were wrong?