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If Only Krugman Were to Understand His Biggest Mistake

by Chris Rossini

Paul Krugman recently expressed to his readers what he believes to be his biggest mistakes:

“Again, we all make mistakes. However, my own biggest mistakes have come either on issues where my models offered no guidance, like the economic impact of information technology, or in cases where I disregarded my models and went with my gut, like my overestimation of the impact of the Bush deficit.”

Krugman’s biggest mistake is that he doesn’t understand his biggest mistake!

You see, Krugman views the economy as if it were a giant lab experiment. Economics, in his world, is treated like a physical science, such as chemistry. Turn a few knobs here, adjust a few metrics there, tweak some mathematical models elsewhere, and presto!

When Krugman makes a mistake (which is quite frequently) he falls back on blaming his “models,” or his “gut” for not trusting his models. The man always has an excuse.

Sadly, Krugman will most likely never understand his greatest mistake. His entire career is dependant on him at least never admitting it.

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Simple Truth

Krugman is a Communist agent. That much is certain.

political operatives dont make mistakes.

They know the shit they say is fucked but they dont care. The ends justify the means to them. The biggest mistake we make is recognizing him as an economist. And he'll find his biggest mistake after he dies and gets judged for building his career on lying to millions of people.

the easiest way to get something done isnt to change the behavior; its to change the meaning of existing behavior. like a cut isnt a cut, torture isnt torture, its enhanced interrogation. war isnt war, its kinetic military action. declaring war now appare

Paul vs Paul

www.youtube.com/watch?v=jEmKIRqz9AI

Krugman thinks he's so clever.

If you don't know your rights, you don't have any.

Krugman's biggest mistake is that he does not understand

freedom and free markets. His belief system is that government should manage the economy. The monetary system he endorses is nothing more than a fraudulent Ponzi scheme, so if he is an expert on monetary policy, he is an expert in carrying out theft.

What a brainwashed low life!

"Bend over and grab your ankles" should be etched in stone at the entrance to every government building and every government office.

The monetary system he

The monetary system he endorses is the same one endorsed by Milton Friedman, no?

Plan for eliminating the national debt in 10-20 years:

Overview: http://rolexian.wordpress.com/2010/09/12/my-plan-for-reducin...

Specific cuts; defense spending: http://rolexian.wordpress.com/2011/01/03/more-detailed-look-a

It is!

Despite Friedman being viewed as 'free market economist", he was in fact a monetaryist, and supported a central bank. In fact, like Krugman, Friedman believed the Great Depression was partially the result of *not enough* money printing by the Federal Reserve.

Good on many issues, yes. But a free market economist Milton Friedman was certainly not.

http://lionsofliberty.com/
*Advancing the Ideas of Liberty Daily*

Friedman believed that yes,

Friedman believed that yes, the central bank should have injected some reserves (ie, its gold) into the monetary system.

Ultimately, I've never really bought Rothbard's views that the federal reserve causes the business cycle, mostly because we've had the business cycle long before we had central banking.

I have more sympathy with Hayek's views that the federal reserve can do nothing to fix the business cycle; it can only postpone the inevitable.

However, I also find sympathy with the views of those like Friedman. If the federal reserve and government set a very stable environment, it would effectively stop recessions by preventing bubbles and spirals.

Plan for eliminating the national debt in 10-20 years:

Overview: http://rolexian.wordpress.com/2010/09/12/my-plan-for-reducin...

Specific cuts; defense spending: http://rolexian.wordpress.com/2011/01/03/more-detailed-look-a

All that says about Friedman is that he is no friend of liberty.

It does not rehabilitate Krugman.

"Bend over and grab your ankles" should be etched in stone at the entrance to every government building and every government office.

Philosophers stone, turning base metals into gold.

Much like the alchemists in history, they would experiment in different ways with whatever materials they had to achieve the unachievable and all the time they had a resolute belief their goal was possible. Like the myth of the philosophers stone, Krugman believes that wealth can be created without the effort needed to produce it.

Anti-Krugman

BUMP. For anything that takes that ponce down.

...was opening his mouth and removing all doubt.

Silence would have left us wondering.

Krugman sucks

Most of krugman's detractors label him as a Keynesian. He is not a Keynesian. He is a tax and spender... a crony capitalist... a redistributionist. He thinks the economy is best served by taking money from the middle class and giving most of it to the elite with a few crumbs going to the poor.

Keynes believed that, in times of crisis, the gov't should step in to stimulate the economy by providing funds for projects that advance the nation. Things like infrastructure and education. The stimulus should end when the economic engine is returning to a stable condition.

People like krugman believe that the government should constantly be spending money, and it doesn't matter that only the cronies benefit from it. It is the liberal version of trickle down.

It is amazing

that people still respect Krugman and read his columns. The man has been wrong on everything!