The Briefing Room

General Category => Economy/Business => Topic started by: mystery-ak on July 21, 2022, 08:26:48 pm

Title: NYT’s Krugman: ‘I Was Wrong About Inflation’ — There Was Stuff ‘that Nobody Saw Coming’
Post by: mystery-ak on July 21, 2022, 08:26:48 pm
NYT’s Krugman: ‘I Was Wrong About Inflation’ — There Was Stuff ‘that Nobody Saw Coming’

Trent Baker 21 Jul 2022

Thursday on MSNBC’s “Morning Joe,” economist and New York Times columnist Paul Krugman discussed his NYT op-ed about how he was “wrong” about inflation.

Krugman explained that there was stuff “that nobody saw coming,” such as Russian President Vladimir Putin’s invasion of Ukraine and supply chain issues.

“On inflation, Paul says he was wrong about the issue,” host Mika Brzezinski said in introducing Krugman. “Paul, let’s start with that. Welcome back to the show. Tell us about your piece and … what did you think you got wrong?”

“Well, partly it’s that there is stuff that … that nobody saw coming,” Krugman replied. “Nobody saw Putin invading Ukraine. I think nobody really thought about logistic supply chains or any of that stuff until suddenly it became a big problem.”

“But part of it is that we did, in fact, end up with what is clearly an overheated economy,” he continued. “And the effect of that overheating on inflation was bigger than this past experience would have led us to believe. So, it is always dangerous to extrapolate from the past, and in this case … I thought it was possible that we offer heat; I didn’t think given the historical relationship that it would lead to this much inflation.”

https://www.breitbart.com/clips/2022/07/21/nyts-krugman-i-was-wrong-about-inflation-there-was-stuff-that-nobody-saw-coming/
Title: Re: NYT’s Krugman: ‘I Was Wrong About Inflation’ — There Was Stuff ‘that Nobody Saw Coming’
Post by: LMAO on July 21, 2022, 08:30:27 pm
The real title should be

NYT’s Krugman: ‘I was wrong and will continue to be wrong on economics’
Title: Re: NYT’s Krugman: ‘I Was Wrong About Inflation’ — There Was Stuff ‘that Nobody Saw Coming’
Post by: Kamaji on July 21, 2022, 08:38:42 pm
:facepalm2:

Sorry, Idiot-boy Krugman, but the current inflation is due to economic fundamentals that plenty of us saw coming at least a year ago.
Title: Re: NYT’s Krugman: ‘I Was Wrong About Inflation’ — There Was Stuff ‘that Nobody Saw Coming’
Post by: Free Vulcan on July 22, 2022, 12:19:17 am
(https://cdn.britannica.com/66/103166-050-9423AD02/Stevie-Wonder.jpg)

I saw it coming.
Title: Re: NYT’s Krugman: ‘I Was Wrong About Inflation’ — There Was Stuff ‘that Nobody Saw Coming’
Post by: Hoodat on July 22, 2022, 01:45:45 am
What has Krugman ever been right about?
Title: Re: NYT’s Krugman: ‘I Was Wrong About Inflation’ — There Was Stuff ‘that Nobody Saw Coming’
Post by: GtHawk on July 22, 2022, 03:54:04 am
Quote from: Free Vulcan on July 22, 2022, 12:19:17 am
(https://cdn.britannica.com/66/103166-050-9423AD02/Stevie-Wonder.jpg)

I saw it coming.
Me too Bro!

(https://i.imgur.com/9xFjsfp.jpg?1)
Title: Re: NYT’s Krugman: ‘I Was Wrong About Inflation’ — There Was Stuff ‘that Nobody Saw Coming’
Post by: catfish1957 on July 22, 2022, 01:26:04 pm
NYT’s Krugman: ‘I Was Wrong About Inflation’ — There Was Stuff ‘that Nobody Saw Coming’

Needlessly infusing $5T into an economy  with no tangible investment in infrastructure or manufacturing development?

When did they stop teaching the term "dilution" in ECON 101?
Title: Re: NYT’s Krugman: ‘I Was Wrong About Inflation’ — There Was Stuff ‘that Nobody Saw Coming’
Post by: Bigun on July 22, 2022, 01:43:04 pm
Quote from: Hoodat on July 22, 2022, 01:45:45 am
What has Krugman ever been right about?

Admitting he was wrong!  There is a first time for everything I guess.