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Krugman on inflation
76 sats \ 6 comments \ @crrdlx 15 Jan 2024 econ
This Krugman guy annoys me. He's now announcing that, "Inflation has been defeated."
Prices are still going up. Just because they're not going up as fast as they were a year or two or three ago at a stupid high rate, prices are still going up.
Maybe I should just be thankful that smart people like Krugman are informing me that inflation has been defeated.
Good morning, Nostr, by the way. :)
https://www.cryptoglobe.com/latest/2024/01/renowned-economist-paul-krugman-declares-that-in-the-u-s-inflation-has-been-defeated/
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35 sats \ 1 reply \ @harrr 15 Jan 2024
Huh, defeated? Inflation is a GOAL in our financial system. What an idiot.
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0 sats \ 0 replies \ @crrdlx OP 15 Jan 2024
So, if inflation is the goal, and Krugman happily announces that it's been defeated, then, he's actually on our side!
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10 sats \ 3 replies \ @siggy47 15 Jan 2024 freebie
Krugman has been getting it wrong for more than thirty five years. This is my favorite:
Economist Paul Krugman wrote that by 2005, it would become clear that the Internet's effect on the economy is no greater than the fax machine's.
He is a moron, but that didn't stop him from winning a Nobel Prize. It's amazing he still has a job.
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51 sats \ 0 replies \ @crrdlx OP 15 Jan 2024
Long live the fax machine!
Funny side note: I was in the driver license place last week (buying a hunting/fishing license of all things), been a long time since I'd been in there. The new building was slick, computerized check in, text check-in, video screens, robotic voice announcing who is being served, etc. To the left, there were computer stations and printers for people to use, which was nice. What caught my eye was the phone/fax machine complete with instructions mounted on the wall as to how to use it. Wait, what? Still? I shoulda took a pic.
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10 sats \ 1 reply \ @Voldemort 15 Jan 2024
I am by no means a fan of krugman, but his work that led to his nobel is actually interesting. It is when he starts talking about political economy that he becomes a dunce.
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0 sats \ 0 replies \ @crrdlx OP 16 Jan 2024
That's kind of interesting to hear. Part of me wonders what he did to get the prize (I have no idea), part of me says to not even bother looking. Maybe one day if I get really bored.
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