Monday, November 10, 2014

Has Paul Krugman Just Called for a Currency War with Mars?

It appears even the Council on Foreign Relations is fed up with Paul Krugman's zany economic commentary.

Benn Steil, Senior Fellow and Director of International Economics at CFR writes:
Paul Krugman routinely mocks Germany for wanting “everyone to run enormous trade surpluses at the same time.” As Martin Wolf has put it, this is impossible, as “the world cannot trade with Mars.”

What we find amazing is that Krugman does not see a similar problem with his latest call for the United States to run “a weak-dollar policy.” Against whom should the U.S. pursue a weak dollar?...

The U.S. pursuing a weak-dollar policy towards its G-7 partners, therefore, would appear deeply damaging and misguided...

In short, we suspect that Krugman’s call for a weak-dollar policy can only mean one thing: currency war with Mars.


  1. As Megan Mcardle put it so well:

    “Paul Krugman has forgotten more economics than I will ever know.”

    New to economics I assumed the Nobel Committee treated the Economics prize no better than the Peace Prize until an economists told me PK was not always so wacky (in spite of being wrong about Keynes) and pointed me to some of his old work as a real economist. PK is no longer an economists.

    1. He probably has forgotten it the moment the pages left his field of view. Oh, and he never had any intellectual honesty or integrity to start with.

      Krugman is just a Fed Bob, providing propagandist cover for the massive scam run by the bankers.