Thursday, April 14, 2016

Paul Krugman Takes a Swipe at Zero Hedge

This strikes me as hilarious. The two opposite ends of the bookshelf meet on the pages of NYT, as Paul Krugman slams TIME and Jim Grant by using Zero Hedge as his battering ram:
So, here we are with near-zero real interest rates on long-term government bonds; with a desperate need for infrastructure investment; with strong reason to believe that deficit spending in the current environment would actually improve the long-run fiscal picture, because the interest burden would be so low and higher growth would raise future revenues.

And Time magazine decides that now is a good time to devote its cover to dire prophecies about looming US insolvency, with the lead article by James Grant — signatory of the infamous 2010 letter warning Ben Bernanke that his policies would cause inflation and debase the dollar, crusader for a return to the gold standard.

Was Time purchased by Zero Hedge when I wasn’t looking?
Of course, the economics of this rant is absurd, but if Krugman has returned to his blogging post, after a seeming extended period of near total absence, thinking he needs to imitate Hunter S. Thompson to crank up hits to his blog, he is indeed on his way.



Also see: Now, MarketWatch Takes a Swipe at Zero Hedge

1 comment:

  1. Japan has more than twice the deficits of the US and more than twice the federal debt. Clearly this approach is working - so the US should emulate them.