Predictably, Krugman Flees the Scene

A while ago one of my readers took me to task for callingeconomics, krugman, wizard, economist Paul Krugman and elitist idiot and the scum sucking spawn of a pox whore’s scab louse (or something equally colourful).

“But you can’t say that about Krugman,” my reader said, “he won a nobel prize. And we know he’s very clever because he told us so, and he has a PhD.

I’ve always believed in what the Wizard of Oz said on the subject of clever, “You don’t need a brain, you just need a diploma.”

And Paul Krugman has enough diplomas to start a toilet paper factory. Sadly however it was his economic thinking that led American Democrat and Republican and British Labour Party governments to believe it was possible to fund ongoing prosperity by infinite borrowing, artificially inflating asset values to collateralise the debt.

It’s all smoke and mirrors of course, like Steinbeck’s monster, like Ponzi’s pyramid, the Krugman economy must grow because if it does not grow it dies. And when the lenders start to understand there will eventually not be enough money in the Krugman economy to pay the interest on accumlulated debt, they become very twitchy about lending more.

Only a complete cupid stunt would think that was a good way to run an economy. QED.

I’m not the only one who thinks Kurgman is a total wanker however. Read what The Daily Bell has to say about the ubiquitous bell – end. PheffingDee my arse.

Predictably, Krugman Flees the Scene

Here’s a preview:
As the West degenerates, as monetary systems fail, as war expands and the Leviathan produces endless, senseless laws and regulations that merely increase the destructive trends of globalism the Krugmans of the world have more and more difficulty justifying what is wrong.

Eventually, the cognitive dissonance becomes overwhelming and they attempt, finally and feebly, to simply jettison the vision they’ve been paid to vigorously defend. Here’s more on how Forbes puts it:

This is the world that Paul Krugman of the New York Times has defended for years. But in a column of August 24, “Galt, Gold and God,” he rails against an interest in the gold standard, which he attributes to Paul Ryan. Krugman lambastes Ryan, ironically enough, for an observation the latter made paraphrasing Keynes: “‘There is nothing more insidious that a country can do to its citizens,’ he intoned, ‘than debase its currency.'”

… Krugman would do well to dig into a classic: Goethe’s Faust, Part II. Scott Minerd, chief investment officer at Guggenheim, writing in the Financial Times recently, brilliantly called contemporary monetary policy “the ultimate Faustian bargain.” Paper money comes straight from Mephistopheles …

Prof. Krugman and his “plovers” have a propensity to dismiss their intellectual adversaries with infantile terms such as “derp.” It is easier, although lazy and louche, for Prof. Krugman to ignore the comments of world-respected officials, such as Herr Dr. Weidmann calling gold a “timeless classic.” Prof. Krugman chronically misrepresents marginal figures as significant. He sets up straw men for ridicule rather than grappling with proponents who make a rigorous case.

More on Kurgman’s big fail:

RELATED POSTS:
Where did all the money go
Death By Debt Of Western Civilization?

2 thoughts on “Predictably, Krugman Flees the Scene

    • My son was looking at dodgy degrees on the internet a few weeks ago. You can get a PhD in anything you like for £250.
      There was a good article in The Daily Telegraph this morning about how the people running things have absolutely no idea what real life is like. It reminded me of when I moved to Accrington from one of the better parts of Manchester. I was gobsmacked at how many people lived. Accrington is a small place and you are never far from the squalor.
      For some at the shitty end life is about trying to improve your lot, for others it is about simply keeping going and for a few it is about getting through to their next drink or drug hit. But for all of them there is no family trust to smooth the way, no nepotism to help their career and no old boys club.

      Like

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