Paul Krugman, I love inflation! And so do all these other guys: Not content with his own laurels Paul Krugman has now descended to defending his particular brand of economic madness by listing other correct-think economists who still don’t think our cost of living is high enough. Not surprisingly these are mostly guys that have far less to lose from the implicit savings/earnings tax -that is inflation- than the rest of us do.
This post was last modified on March 13, 2021
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crowley, you do understand that Paul Krugman has never been right about anything he preaches. He lives in an academic world of theory, but he's never had to make what he thinks work in the real world. If Krugman ever tried to go into buisiness for himself, he would never suceed. This little clip basically explains the difference between the real world & the academic world...
http://www.youtube.com/watch?v=YlVDGmjz7eM
...& yes, you are as dumb we thought. Because we all know Krugman has his head up his ass. That's why he talks out of his ass, much like you.
Me, personally, I enjoy the economic stylings of Walter E. Williams, Thomas Sowell, Art Laffer, & Steve Forbes. They know what they are talking about, & they understand freedom. Krugman, those who support his viewpoint, DO NOT.
So you like the economic stylings of stealing gold to create unlimited funding of worthless fiat at the expense of the consumer as well as the establishment of over regulation and red tape to surpress small businesses and limit potential competition?
I can't believe I am responding to you... but you really need to understand this. It makes NO difference if we, as a society, trade in gold, diamonds, pieces of green paper, shells or anything else.
If we all agree that these pieces of green paper represent a particular value, and I am willing to trade what I have for a set number of pieces of green paper, and you are willing to trade little green pieces of paper for what I have, then we have an economy.
It is much much more complicated than that, but even your little brain should be able to understand that.
don't respond to me. That was a public service announcement. Nothing more.
Except the Fed can print as many pieces of green paper as they want to make everyone else's green paper worthless. It doesn't even have to be paper anymore, but merely digital numbers on a computer in many cases now.
Fine, it doesn't have to be gold but it does have to be some physical LIMITED commodity.
AHHHHH, that was a great turd!
It isn't paper, you are.
I hate it when the mentally ill get published by the media, Krugman reminds me of the moron's you see on local news stations who try and solve a crime by givin' their opinion. He is just another ass looking for some TV/Radio/Newspaper time so he can say see, "I am important", Even though he is dumber than Crowley on economic matters.
So I'm not as dumb as you originally thought? At least that's how your last sentence above sounds like.
See there is hope for you, there is someone in "the know" that is dumber than you are. Not many but at least one
I take it Krugman is someone who the concept of being a reserve currency escapes him. It's something that only lasts until other countries decide they've had enough of paying your dept, then they find another reserve currency.
Liberal elitist: someone who will give a complete stranger your shirt off your back. And then feel like they deserve a humanitarian award.
Inflation is a stealth tax. Pols don't have the guts to tax the public directly to pay for all the spending on their pet projects and cronies so they borrow it - inflation favors the borrower because the borrower pays off the debts with cheaper dollars (cheaper in REAL terms, not nominal terms.) And the public simply sees the prices of everyday goods keep going up and up and up but never blames the politicians for the price increases, they blame "Big Oil" or "Big Pharma" or corporate greed or whatever. The truth is the corporate world sees prices for raw materials and labor rise along with everything else and must pass the cost along to consumers or go out of business. So business ends up taking the blame for the politicians' profligacy. And, of course, the pols end up joining in the fun, railing at business in public for raising prices while winking and taking donations from them in private.
Inflation is the politicians' best friend - surrepetitiously tax the crap out of the public and lay the blame off on somebody else. No surprise the conscience of a Marxist loves it.
The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation.
Vladimir Lenin
That's the real reason for the economic policies since the democrat party took over in 2007 that went on hyper drive in 2009.
"The surest way to destroy a nation is to debauch its currency."
Also VI Lenin
@Sidekick,
Very good point!
Exactly what I've been saying all along.
You mean 1964, not 2007?
Corporate Greed also loves inflation. That's why they stole our gold.
Now he is just attention seeking. He KNOWS what he advocates is entirely wrong and discredited by history.
Does anyone with half a brain even listen to him anymore?
Lets be honest, the only thing inflated with Krugman is his ego.