{"id":1586684,"date":"2022-08-03T09:17:17","date_gmt":"2022-08-03T13:17:17","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1586684"},"modified":"2022-08-03T09:17:23","modified_gmt":"2022-08-03T13:17:23","slug":"paul-krugman-blames-the-media-for-americans-thinking-the-economy-sucks","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/paul-krugman-blames-the-media-for-americans-thinking-the-economy-sucks\/","title":{"rendered":"Paul Krugman Blames the Media for Americans Thinking the Economy Sucks"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fpaul-krugman-blames-the-media-for-americans-thinking-the-economy-sucks%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1586684&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><\/div>\n<p>Add \u201cnoted\u201d economist and New York Times columnist Paul Krugman to the list of left-wingers desperately trying to convince tens of millions of hardworking everyday Americans that the economy isn\u2019t as bad as they <em>know it is<\/em> and that they aren\u2019t suffering nearly as much as they<em> know they are.\u00a0<\/em><\/p>\n<p>As frustrating as life in <a href=\"https:\/\/redstate.com\/mike_miller\/2021\/10\/20\/tucker-lower-your-expectations-folks-this-is-joe-bidens-america-n459783\" target=\"_blank\" rel=\"noopener\">Biden\u2019s America<\/a>\u2122 has become for some, and <a href=\"https:\/\/redstate.com\/jenniferoo\/2021\/04\/20\/joe-bidens-american-rescue-plan-is-more-harm-than-help-to-seniors-n365423\" target=\"_blank\" rel=\"noopener\">devastating<\/a> for others, it\u2019s still humorous at times, watching Joe and Democrats \u2014 always aided by their useful idiots in the liberal lapdog media \u2014 blame everyone and everything else for crises they alone have foisted on the American people.<\/p>\n<p>Their desperate attempt to change the long-accepted definition of \u201c<a href=\"https:\/\/redstate.com\/nick-arama\/2022\/07\/29\/ny-post-delivers-the-perfect-takedown-of-bidens-recession-denialism-n603811\" target=\"_blank\" rel=\"noopener\">recession<\/a>\u201d is one such example.<\/p>\n<p>The <a href=\"https:\/\/www.dailyitem.com\/business\/the-definition-of-recession-and-why-this-one-is-different\/article_3f2c34c6-0f78-11ed-ae90-5be7e31a9d8a.html#:~:text=That%20it%20is%20%E2%80%9Ca%20period,)%20in%20two%20successive%20quarters.%E2%80%9D\" target=\"_blank\" rel=\"noopener\">standard definition<\/a> of recession for decades has been \u201ca period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP (Gross Domestic Product) in two successive quarters.\u201d Per that accepted definition, the U.S. officially entered a recession on August 1. Or did it? Not so fast, say Biden and Democrats, backed by their know-nothing sock puppets in the media and various left-wing economists. (Think: \u201cPaul Krugman\u201d \u2014 but we\u2019ll get to him in a minute.)<\/p>\n<p>As <a href=\"https:\/\/thehill.com\/policy\/finance\/3579988-is-there-a-recession-only-the-national-bureau-of-economic-research-gets-to-decide\/\" target=\"_blank\" rel=\"noopener\">reported<\/a> by The Hill on Saturday, under what amounted to a Biden-supporting headline \u2014 <em>Is there a recession? Only the National Bureau of Economic Research gets to decide<\/em> \u2014 only the NBER Business Cycle Dating Committee is \u201cin charge\u201d of making an official call on whether the country is in a recession.<\/p>\n<p>Why so? It gets worse:<\/p>\n<blockquote>\n<p>Commerce Department data this week found the U.S. economy shrank for a second quarter in a row, sparking a new debate about whether the nation is in a recession. Negative growth in two consecutive quarters fulfills a common definition for a recession \u2014 and it\u2019s the official way of making such a call in some countries.\u00a0But it\u2019s not in the U.S., where a relatively under-the-radar group \u2014 the National Bureau of Economic Research\u2019s (NBER) Business Cycle Dating Committee \u2014 is in charge of making an official call on whether the country is in a recession.<\/p>\n<p>So what is this group, and how does it make its proclamations?<\/p>\n<\/blockquote>\n<p>My exact question. And, \u201csome countries\u201d? Those \u201csome countries\u201d included the U.S. for years \u2014 until the frantic efforts to declare the Biden Recession\u2122 a \u201cnon-recession\u201d began. Check it out:<\/p>\n<blockquote>\n<p>The group within the NBER that actually makes the call on the recession is the Business Cycle Dating Committee.\u00a0It has eight members, who are among the foremost economists in the nation, [all of whom] work at top academic institutions across the country.<\/p>\n<p>The NBER\u2019s formal definition of a recession is broad. According to its frequently asked questions page, the NBER\u2019s traditional definition is \u201ca significant decline in economic activity that is spread across the economy and that lasts more than a few months.<\/p>\n<\/blockquote>\n<p>The only thing \u201cbroad\u201d in <em>that definition<\/em> over the decades-long <em>standard definition<\/em> is the shell-game switch from \u201ctwo consecutive quarters\u201d to \u201cmore than a few months.\u201d<\/p>\n<p>How convenient for Joe Biden and <em>his recession,<\/em> huh?\u00a0Anyway, <em>now<\/em> let\u2019s go to Paul Krugman \u2014 along with an extra bonus,\u00a0CNN\u2019s <del datetime=\"2022-08-02T04:01:18+00:00\">Mr. Potato Head<\/del> Brian Stelter, who was also all over it, gleefully getting himself more and more worked up the longer Krugman sang the song the pretend-journalist wanted to hear.<\/p>\n<p>As we continue, keep in mind the mindnumbing fact that Krugman is a Nobel Laureate. Wait. Now that I think about it, that might have a \u201ctiny bit\u201d to do with the unabashed hypocrisy and complete lack of professional integrity this Mr. Know-it-All has demonstrated over the years.<\/p>\n<p>As <a href=\"https:\/\/www.cnn.com\/2022\/07\/31\/media\/economy-paul-krugman-reliable-sources\/index.html\" target=\"_blank\" rel=\"noopener\">reported<\/a> by CNN Business on Sunday, Krugman not only declared that the U.S. economy is not in a recession; he said the distinction doesn\u2019t even matter. See what I mean? Here\u2019s more:<\/p>\n<blockquote>\n<p>Jobs are abundant, although maybe the job market is weakening. Inflation is high, though maybe inflation is coming down. What does it matter whether you use the R-word or not?<\/p>\n<\/blockquote>\n<p>Great question, Mr. Krugman. How \u2019bout you ask Biden and the Democrats, and get back to us?<\/p>\n<p>The \u201cnoted\u201d economist continued, observing that in today\u2019s \u201cdivisive environment,\u201d the debate over whether or not to use the word recession by some members of the media has become \u201cespecially vitriolic.\u201d (In case you missed it, there was the set-up: It\u2019s the <em>media\u2019s fault<\/em>, America.)<\/p>\n<blockquote>\n<p>I\u2019ve never seen anything as bad as the determination of a lot of people to say it\u2019s a recession. It\u2019s above and beyond anything I\u2019ve ever seen. Negative news stories often get the most attention, but when it comes to the economy, a plurality of voters appear to not be aware of its underlying strength.<\/p>\n<p>I think that what\u2019s happening now is that there\u2019s been a kind of a <em>negativity bias<\/em> in coverage.<\/p>\n<\/blockquote>\n<p>And there you have it, folks: a left-wing economist blaming the left-wing-dominated news media for convincing a strong majority of rational Americans that Biden\u2019s disastrous policies have led to economic cutbacks and hardships for tens of millions of hardworking families. The problem for Krugman and Democrats? That is exactly what happened; Biden\u2019s disastrous policies <em>are<\/em> <em>to blame.<\/em><\/p>\n<p>Yet Krugman insists on blaming a \u201c<em>media failing<\/em>\u201d when in reality a majority of the media \u2014 finally \u2014 are <em>accurately<\/em> covering the realities of what most Americans are experiencing in Biden\u2019s America. That said, Krugman began to sound even more foolish:<\/p>\n<blockquote>\n<p>If you ask people how\u2019s your financial situation, it\u2019s pretty favorable. You ask them how\u2019s the economy, they say, \u2018Oh, it\u2019s terrible.\u2019<\/p>\n<\/blockquote>\n<p>Does anyone have <em>the<\/em> <em>world\u2019s tiniest violin<\/em> I can borrow for a minute?<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">\u201cIf you ask people \u2018How is your financial situation?\u2019 it\u2019s pretty favorable,\u201d <a href=\"https:\/\/twitter.com\/paulkrugman?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">@paulkrugman<\/a> says. \u201cIf you ask them \u2018How is the economy?\u2019 they say \u2018Oh, it\u2019s terrible.\u2019 That\u2019s a media failing.\u201d <a href=\"https:\/\/t.co\/gwA6vs31PM\" target=\"_blank\" rel=\"noopener\">https:\/\/t.co\/gwA6vs31PM<\/a><\/p>\n<p>\u2014 Brian Stelter (@brianstelter) <a href=\"https:\/\/twitter.com\/brianstelter\/status\/1554194563887251456?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">August 1, 2022<\/a><\/p>\n<\/blockquote>\n<p><em>Finally,<\/em> Krugman got to the <em>real issue<\/em> at hand \u2014 by inadvertently playing <em>his hand.<\/em><\/p>\n<blockquote>\n<p>They want their Biden recession. They\u2019re going to have it, nevermind [sic] the fact that \u2026 there\u2019s not a recession in any technical sense.<\/p>\n<\/blockquote>\n<p>Translation: \u201cThe Republicans want to hang the traditional definition of recession around Biden\u2019s neck and I\u2019ll be damned if I\u2019m going to give it to them, so there.\u201d<\/p>\n<p>\u201cWe\u2019re recovering from a pandemic,\u201d Krugman said. \u201cYou\u2019d expect a lot of things to look kind of weird right now.\u201d\u00a0The only thing that looks weird right now, as we close, is <em>Paul Krugman.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Add \u201cnoted\u201d economist and New York Times columnist Paul Krugman to the list of left-wingers desperately trying to convince tens of millions of hardworking everyday Americans that the economy isn\u2019t<\/p>\n","protected":false},"author":1,"featured_media":1586770,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1586684","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1586684","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1586684"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1586684\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1586770"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1586684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1586684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1586684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}