Monday, December 22, 2014

General Krugman is in Charge

Simon Black notes:
Paul Krugman came to the rescue to save the people of Sweden from falling prices and effectively declared WAR on Deflation.

In a bold act of brazen courage not seen since the Normandy Invasion, General Krugman risked serious wrist injury several months ago when he wrote a strongly worded letter, chastising the Swedish central bank for not cutting interest rates fast enough.

General Krugman barely escaped with his life, but the people of Sweden were saved.

The War on Deflation, however, is far from over. While Sweden's dizzying price collapse of 0.4% has now halved to 0.2% deflation, General Krugman cannot rest until ALL prices EVERYWHERE are once again rising.. 
Yes, it’s completely counterintuitive that falling prices are somehow bad for consumers who have been responsible enough to save...
[But] as good citizens we should all have blind faith and allegiance to General Krugman and his intrepid central bank lieutenants around the world.
For the truth about falling prices, see Murray Rothbard and the Deflation Bogey

1 comment:

  1. They need a Nobel Prize for stupidity. In a sane world this guy would win it.