Paul Krugman Admits He ‘Badly Underestimated Inflation Risks’

[Hoodat]

Paul Krugman Admits He ‘Badly Underestimated Inflation Risks’

Joseph Vazquez  |  June 27th, 2022 10:42 AM

New York Times economics columnist Paul Krugman made another damning admission this past week about his sordid record analyzing economics as inflation continues to bite chunks out of Americans’ wallets.

Krugman conceded in a June 23 op-ed that “in 2021, U.S. policymakers, like many economists, myself included, badly underestimated inflation risks.” But Krugman attempted to shield his loss by wokescolding analysts who predicted economic calamity arising from President Joe Biden’s leftist stimulus policies. “Sado-monetarism is having a moment,” Krugman wrote. “[ S]uch people have just had a good year: the inflation they’ve always warned about finally materialized.” Krugman defined his arbitrary slur “sado-monetarist” as “a person who always seems to demand higher interest rates and fiscal austerity, regardless of the state of the economy.” [Emphasis added.]

Krugman attempted to further cushion his admission by juxtaposing his supposed virtue and the alleged lack of virtue of those who predicted runaway inflation under former President Barack Obama, a totally unrelated matter.  .  .

https://newsbusters.org/blogs/business/joseph-vazquez/2022/06/27/painful-paul-krugman-admits-he-badly-underestimated


Krugman should be charged with 'impersonating an economist'.

[Kamaji]

[cato potatoe]

Some of us didn't need an ivy league education to see this coming.  Paul was also confident that home prices would not fall in a 2005 column.  So it should give you the warm fuzzies when he says the housing bubble is not on his top 10 list of things to worry about. 

[Kamaji]

Some of us didn't need an ivy league education to see this coming.  Paul was also confident that home prices would not fall in a 2005 column.  So it should give you the warm fuzzies when he says the housing bubble is not on his top 10 list of things to worry about. 

[LMAO]

There is no living human being that has been more wrong more often then Paul Krugman

[catfish1957]

Underestimate the risk?

How about underestimating, or undercounting the actual numbers......  The admin's reporting of 8% annual is utter bullshit.

Actually it is more around 14-20% annually.

[GtHawk]

There is no living human being that has been more wrong more often then Paul Krugman

Two words, Joe Biden, otherwise you are probably right if you toss out AOC, Kamala, Maxine Waters, Schiff.......

[GtHawk]

Underestimate the risk?

How about underestimating, or undercounting the actual numbers......  The admin's reporting of 8% annual is utter bullshit.

Actually it is more around 14-20% annually.

Yup, I know that 3.2% COL or what was left after the medicare bump really saved my ass through all of this. Funny how they increased SNAP benefits by 27% for the year though, at least I know the illegals have more money for food than I do

[Bigun]

There is no living human being that has been more wrong more often then Paul Krugman

You took the words right out of my mouth @LMAO if Krugman has EVER gotten anything right WRT economics, I missed it!