Thursday, March 7, 2013

Paul Krugman Declares Personal Bankruptcy

UPDATE:  I am getting many emails alerting me that the below is satire. I am aware of that. Bill Anderson sent me the story and included the comment: "Yes, love the tongue-in-cheek, but this is such a good way to put things."  That's why I included Anderson's email to indicate this is satire. As commenter Jack Weil  notes: "that's what tongue and cheek means."

The Daily Currant reports:
Economist and columnist Paul Krugman declared personal bankruptcy today following a failed attempt to spend his way out of debt.
In a Chapter 13 filing to the United States Bankruptcy Court in the Southern District of New York, lawyers for Krugman listed $7,346,000 in debts versus $33,000 in assets.
The majority of his debts are related to mortgage financing on a $8.7 million apartment in lower Manhattan, but the list also includes $621,537 in credit card debt and $33,642 in store financing at famed jeweler Tiffanys and Co.
Hat tip to Bill Anderson who emails:
Hilarious!!! Why haven’t I thought of spending my way out of a lower salary? (Yes, love the tongue-in-cheek, but this is such a good way to put things.) Krugman would claim that governments are “different” because they can borrow and print money at will. Of course, I can do the same, issuing Andersons as payment for goods. If I can get people to accept my paper, then I have “stimulated” the economy.

16 comments:

  1. "The Daily Currant is an English language online satirical newspaper"

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    Replies
    1. Uh. no kidding that's what tongue in cheek means.

      Delete
    2. Yes, but in the comments on the original Daily Currant article you get some precious literalists such as:

      Trouble to a 'T' @MarineReconDad
      For the IDIOTS that put faith in this guy ==>>>>> Paul Krugman Declares Personal Bankruptcy http://dailycurrant.com/2013/03/06/paul-krugman-declares-personal-bankruptcy/ …

      Delete
  2. "Catholic Church Blasted for Lack of Jewish Popes" - I love this one!

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  3. Rather than having to print "Andersons," you could simply print your own US Dollars, exactly like the Fed does.

    Of course that's "illegal" when regular people like you and me do it.

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  4. Mr. Wenzel, are you sure this story is real?

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  5. Shouldn't one have to declare whether the bankruptcy is intellectual, financial, or both?

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  6. Bwaaaaaahaaaahaaaahaaaahaaaaa!!! Damn, peed myself! Bwaaaaaahaaaahaaaahaaaahaaaaa!!! Damn, did it again...

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  7. How can he be bankrupt, he still has coupons to a childcare center in Manhatten.

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  8. Slightly off topic, but does any one have a link to a video of the debate Krugman had recently with Scarborough?

    -Bharat

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  9. All Krugman stories should have mandatory labeling. It's too hard to tell actual Krugman stories from satire.

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  10. Hahahahhahahahaha. The"brilliant economist"

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  11. A liberal website I visit has started deleting all threads related to Krugman, since I point out how awful moronic his economic analysis is. It is easier to censor than debate.

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  12. Well, he was a mental bankrupt anyway.

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  13. Ha, that's come again? Happen when you subcontract your spell examination to Ukraine. Thank you for infectious the error and I look forward to inquiry your opinion on the main theme.FHA

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