Wednesday, November 21, 2012

Krugman: CNBC Is 'Bad For Your Financial And Intellectual Health'

HuffPo writes:

Watching CNBC? Paul Krugman would like you to change the channel. 
"Don’t spend much time watching CNBC," the Nobel Prize-winning economist and New York Times columnist wrote in a blog post Wednesday. "It’s bad for your financial and intellectual health." 
Inspired by a recent piece about CNBC from the Columbia Journalism Review's Ryan Chittum, Krugman wrote that "the network has gone all in on behalf of the 0.01 percent." Krugman argued that those who usually watch business news consider themselves to be part of the "economic elite." Therefore, he says, those who regularly consume business television have certain kind of stubborn personality that doesn't acknowledge "evidence."
There is a lot of truth to what Krugman says. CNBC is always promoting crony capitalists, such as, Jack Welch and Warren Buffet. But Krugman is just as bad, if not worse, for your intellectual health. He's part of the crony intellectuals that will say anything and write anything that will advance the government/intellectual agenda, damn honest intellectual debate.


  1. Umm... so is Fed-dy Krugman, even more so.

  2. Are you saying that Obama's pet billionaire Warren Buffet is a crony capitalist? The revered sage of Omaha! The altruistic savior of Goldman Sachs! The "I should pay more taxes' Saint Buffet!

  3. I noticed that Ryan Chittum seems unconcerned over the 40+ year MSM blackout of even a simple Austrian analysis such as: "Hayek won the Nobel Prize in 1974 for his work on the Austrian Business Cycle Theory which holds that not only does monetary and fiscal stimulus not cure depressions and recessions, it is the cause of them". How long would it take a 24 hour cable network to say that perhaps once every week? 15 seconds?

    1. Or a short statement such as: "Are you suffering from rising prices and inflation? You know, of course, that inflation is caused by a purposeful government called Keynesianism which also holds that unpayable government debt and deficits cause prosperity."

      Once a week. How hard is that?

  4. Living under a Keynesian regime is bad for your financial health.

    Paul, who has received your newly printed money first? The average american or the crony capitalists?

  5. I don't really understand all the attention we give to Paul Krugman. The man is a statist and a clown. Actually, that probably means he's widely read...

  6. Nah, Krugman's still pissed about his appearance on CNBC back in July when he thought he'd have a smooth run hawking his book and instead got hard-balled: