use the following search parameters to narrow your results:
e.g. subreddit:pics site:imgur.com dog
subreddit:pics site:imgur.com dog
advanced search: by author, sub...
~4 users here now
It's All Politics
Paul Krugman declares US not in a recession, claims 'negativity bias' in media
submitted 1 year ago by sproketboy from foxnews.com
view the rest of the comments →
[–][deleted] 7 insightful - 2 fun7 insightful - 1 fun8 insightful - 1 fun8 insightful - 2 fun - 1 year ago (7 children)
Yes, Krugman is a propagandist and a terrible economist, he also claimed inflation was 'transitory'.
[–]Drewski 4 insightful - 2 fun4 insightful - 1 fun5 insightful - 1 fun5 insightful - 2 fun - 1 year ago (0 children)
He's right, it's transitioning from bad to worse.
[–][deleted] 1 year ago (5 children)
[deleted]
[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 0 fun3 insightful - 1 fun - 1 year ago* (3 children)
Moreover, inflation is indeed transitory in a wealthy country like the US
https://www.nytimes.com/2022/07/21/opinion/paul-krugman-inflation.html
On January 19, 2016, he wrote an article which criticized Bernie Sanders for his perceived lack of political realism, compared Sanders' plans for healthcare and financial reform unfavorably to those of Hillary Clinton, and cited criticisms of Sanders from other liberal policy wonks like Mike Konczal and Ezra Klein.
https://archive.nytimes.com/krugman.blogs.nytimes.com/2016/01/19/weakened-at-bernies/
Ahh yes, the old universal health care is totally unaffordable and will never work in the US even though it does in Europe
"Sweatshops are better than unemployment"
https://slate.com/business/1997/03/in-praise-of-cheap-labor.html
Krugman says we don;t need a living wage.
https://www.thefreelibrary.com/Living+Wage:+What+It+Is+and+Why+We+Need+It.-a021103427
[–][deleted] 1 year ago (2 children)
[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 0 fun3 insightful - 1 fun - 1 year ago* (0 children)
Yes you are absolutely right that that these issues are more complex than I was suggesting, and there is some economic justification for what he is saying. However, Krugman largely ignores and never mentions many real causes of these issues that do not fit his decidedly neo-liberal narrative.
His omission of the real cause of inflation I mentioned in my other comment is just one example. Here's a better one:
Krugman wrote in March 2006: "Immigration reduces the wages of domestic workers who compete with immigrants. That's just supply and demand: we’re talking about large increases in the number of low-skill workers relative to other inputs into production, so it's inevitable that this means a fall in wages ... the fiscal burden of low-wage immigrants is also pretty clear."
https://archive.nytimes.com/krugman.blogs.nytimes.com/2006/03/27/notes-on-immigration/
Here's Krugman toeing the party line in 2017 with a major flip-flop while the DNC rails Trump for the immigration policies Biden ended up continuing.
Immigration, actually, the evidence suggests that immigrant workers are not for the most part competing with native-born workers. They’re competing with immigrant workers who are already here, more than that ... The immigration thing, although it’s the one that resonated most with with Trump voters, is probably in fact the place where his economics is just wrong.
https://www.econlib.org/archives/2017/12/krugman_talks_s.html
LMAO! 😂
I tell you what, I will grant you I don't think Krugman is a 'bad economist' that was disingenuous. I do think Krugman is 'deployed' by the DNC to write economic justifications to tell the masses what to think with his 'expert opinions' for whatever the fuck they want to do, and Krugman has no fucking integrity, and is more than happy to do the bidding of the neo-liberal machine enriching the 1%.
[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 0 fun3 insightful - 1 fun - 1 year ago (0 children)
About 10 years ago $15/hr was enough to have a car, the mandatory insurance, a small apartment, and ramen for every meal. It's already a dated goal. Of course, things vary by location.
The first good step in that direction was Obamacare
Obamacare was fucked right out the gate.
It put millions of people in the system who previously had no access
Is the only good thing it did. And no prior medical conditions counting against you is all they needed.
[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 0 fun2 insightful - 1 fun - 1 year ago* (0 children)
Moreover, inflation is indeed transitory in a wealthy country like the US, as it's a form of market correction, combined with Fed restrictions. The 'transition' takes much longer in poorer countries.
https://fredblog.stlouisfed.org/2014/03/currency-in-circulation/
https://fred.stlouisfed.org/series/CURRCIR
Take a look at this graph of the US money supply. Inflation should roughly equal 'growth in currency supply' - 'GDP growth' given time to correct. Currency supply up 15% per year for 2020, after nearly a decade at 5-6% (While GDP was growing 2-3%, for a healthy low level of inflation). The biggest spike in 20 years. Fed policy is why we have inflation, and Powell is Biden's guy. Krugman certainly knows this, despite whatever bullshit narrative he is shilling in the NYT.
view the rest of the comments →
[–][deleted] 7 insightful - 2 fun7 insightful - 1 fun8 insightful - 1 fun8 insightful - 2 fun - (7 children)
[–]Drewski 4 insightful - 2 fun4 insightful - 1 fun5 insightful - 1 fun5 insightful - 2 fun - (0 children)
[–][deleted] (5 children)
[deleted]
[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 0 fun3 insightful - 1 fun - (3 children)
[–][deleted] (2 children)
[deleted]
[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 0 fun3 insightful - 1 fun - (0 children)
[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 0 fun3 insightful - 1 fun - (0 children)
[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 0 fun2 insightful - 1 fun - (0 children)