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Msg. 45671 of 60008 |
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Good thing his Marxist buddies on the Nobel Committee handed him a pity prize in the field of economics ... because Paul Krugman doesn't have the smarts to understand the economics of running a lemonade stand.
Hey, America. Are you feeling the pinch in your wallet because of grocery prices? Are you having trouble paying your utility bills? Did you notice the gigantic spike in gas prices the last week or so? Well, fear not. Professional elitist and scold Paul Krugman is here to tell you that ... it’s your fault for not realizing how wonderful things are. Paul Krugman (@paulkrugman) ~ Over the past couple of days I've had several conversations with smart people who follow the news — and had no idea that inflation is way down. Presumably hasn't broken through at all to the wider public. See? Inflation is down, you plebeians. If you were as brilliant and informed as a Nobel Prize winner, you would know that and stop complaining. Except no, not really. Shay Cormac (@SPCORMAC_1) ~ {Replying to @paulkrugman} Way down ... Meaning it's not going up as quickly as it was, but it is still increasing. Inflation was 3% higher in July 2023 than it was in 2022. And it was 9% higher in 2022 than it was in 2021. What cost $1 in 2021 costs $1.13 today. Do you think that's good? Tom Knighton (@TheTomKnighton) ~ {Replying to @paulkrugman} Oh, come on, Paul. You know good and well that all that's dropped is the rate of inflation's increase, which means inflation is still increasing. But you won't acknowledge that, will you?
Either Krugman is too stupid to understand the very basic difference between "inflation is down" and that the vector increase in inflation has slowed down somewhat or he is a pathetic liar. Hmmm ... Krugman has proven himself to be both stupid and a liar, over and over again. A lower rate of inflation increase is not the same as 'inflation is down.' In fairness, yes, there is a difference between inflation and prices: stevemur (@stevemur) ~ {Replying to @paulkrugman} As you know, many incorrectly associate “inflation is down” with PRICES are down. No, that would be deflation. Inflation being down simply means the rate of INCREASE is slowing, but prices are still increasing. stevemur (@stevemur) ~ {Replying to @paulkrugman} Put another way, this is the Consumer Price Index.
Notice that it's not declining. The rate of growth has slowed somewhat (i.e., inflation has declined), but not enough for people to feel it.
An economist would know this, so Krugman proves himself to be a fraud, yet again. But somehow, we don’t think this comes as much consolation to people who have to pay for things like gas, food, and power. Luckily for him, Krugman is not one of those poors. But plenty wanted to let Krugman know just what they thought of his proclamation. Holly Thornton (@beachmamax2) ~ I loathe these people. They have ZERO empathy for Americans who are struggling & they legit don’t understand why we aren’t buying the lies about how much better things are supposed to be. It’s not “broken through,” Paul, because we go to the grocery store & gas station. Montana Department of Organic Flammability (@MontanaDOOF) ~ I know a way you can find out if it has ... TALK TO NORMAL PEOPLE, PAUL!
Krugman doesn't know any normal, rational people - he only knows Marxists (i.e., Democrats). Talk to the smelly littles? No. Paul will not be doing that anytime soon.
neil h (@A2protectsA1) ~
𝐁𝐥𝐨𝐨𝐝𝐛𝐨𝐫𝐧𝐞 𝟐 (@SisyphusGoals) ~ It makes sense now. Paul Krugman said the economy was going to be great three years ago. Therefore, the economy is great. There is no other possible conclusion because in Paul Krugman’s mind, Paul Krugman can do no wrong. If he were a doctor, he’d be Christopher Guest in ‘A Few Good Men.’
Yeah, Krugman doesn't like it when he is proven wrong; therefore, he has pretty much gone through his entire life ignoring reality.
BTC Sessions (@BTCsessions) ~ {Replying to @paulkrugman}
Paul: "Didn't you guys hear? Prices are going up LESS fast now! You should be happy!" STR𝕏WM𝕏N (@strxwmxn) ~ {Replying to @paulkrugman} I am so glad that my brain tumor stopped growing so fast.
Heh heh heh heh heh. Yikes. We know that user is kidding, but it’s a pretty good way to drive the point home. There were many, many more people telling Krugman where he could stuff his snobbery, but one user summed up perfectly how everyone should view anything that Krugman smugly declares: Heidi (@HeidiL_RN) ~ {Replying to @paulkrugman} You have never gotten one thing right your entire career. Geez. Say, that’s a good point. Why is Krugman putting his thoughts out on this Internet fad thingy anyway? Shouldn’t you be talking down to everyone via a fax machine, Paul? http://www.laphamsquarterly.org/revolutions/miscellany/paul-krugmans-poor-prediction A winner of the Nobel Prize in Economics, Paul Krugman wrote in 1998, “The growth of the Internet will slow drastically, as the flaw in ‘Metcalfe’s law’ — which states that the number of potential connections in a network is proportional to the square of the number of participants—becomes apparent: most people have nothing to say to each other! By 2005 or so, it will become clear that the Internet’s impact on the economy has been no greater than the fax machine’s.”  The essential American soul is hard, isolate, stoic, and a killer. It has never yet melted. ~ D.H. Lawrence |
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