{"id":1791154,"date":"2022-12-31T07:51:45","date_gmt":"2022-12-31T12:51:45","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1791154"},"modified":"2022-12-31T07:51:57","modified_gmt":"2022-12-31T12:51:57","slug":"paul-krugmans-four-worst-takes-of-the-year","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/paul-krugmans-four-worst-takes-of-the-year\/","title":{"rendered":"Paul Krugman\u2019s Four Worst Takes of the Year"},"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\">16<\/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-krugmans-four-worst-takes-of-the-year%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=1791154&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-->\n<p>The past year was a difficult one for wild and hot takes. <em>The New York Times<\/em>\u2019s phony economics savant Paul Krugman. It&#8217;s hard to imagine how he can still take himself seriously given his absurd record in assessing the state of the economy during President Joe Biden.<\/p>\n<p><img alt=\"\" class=\"image-blog_image_50_ img-fluid blog-img\" data-insert-attach=\"{\" id  style=\"display:none\"> Krugman used 2022 <a href=\"https:\/\/www.newsbusters.org\/blogs\/business\/joseph-vazquez\/2022\/01\/05\/dazed-krugmans-new-schtick-convincing-people-2021-was\">praise<\/a> The <a href=\"https:\/\/www.nytimes.com\/2022\/01\/04\/business\/economy\/worker-pay-inflation.html\">inflation<\/a>  <a href=\"https:\/\/www.foxbusiness.com\/economy\/elevated-job-openings-amid-labor-shortage-lead-catastrophe-former-mcdonalds-ceo\">labor-shortage-rattled<\/a> Economy as \u201camazing,\u201d Double the fun with his imaginary \u201cBiden Boom\u201d Convince the masses that skyrocketing inflation was temporary. Despite <a href=\"https:\/\/www.newsbusters.org\/blogs\/business\/joseph-vazquez\/2022\/07\/21\/i-was-wrong-paul-krugman-kicks-himself-awful-inflation\">admitting<\/a> He was a July resident \u201cwrong\u201d Krugman continued to spew his nonsense with hubris, impunity, and inflation crisis. \u201c<a href=\"https:\/\/www.newsbusters.org\/blogs\/business\/joseph-vazquez\/2022\/09\/27\/flashback-3-paul-krugman-rules-bidenomics-self-destructed\">Bidenomics<\/a>\u201d Gospel is a punching bag for anyone who has a basic understanding of economics. It\u2019s long past due for Krugman to relinquish his <a href=\"https:\/\/www.nobelprize.org\/prizes\/economic-sciences\/2008\/krugman\/facts\/\">phony<\/a> Nobel Prize, and you can call it quits.<\/p>\n<p>Krugman\u2019s track record can be perfectly summed up by <a href=\"https:\/\/www.newsbusters.org\/blogs\/business\/joseph-vazquez\/2022\/09\/27\/flashback-3-paul-krugman-rules-bidenomics-self-destructed\">two rules<\/a> He was a guide \u201cBidenomics\u201d Just before Biden was elected Jan. 20, 2021. The country ended up imploding on 2022 \u201cRule #1: Don\u2019t doubt the power of government to help.\u201d \u201cRule #3: Don\u2019t worry about inflation.\u201d<\/p>\n<p>To cap off the year, MRC Business goes down memory lane to highlight Krugman\u2019s top four WORST economic takes of 2022.<\/p>\n<p><strong>1. Condescending Paul Krugman <\/strong><a href=\"https:\/\/www.newsbusters.org\/blogs\/business\/joseph-vazquez\/2022\/09\/08\/condescending-paul-krugman-bleats-biden-boom-great-workers\"><strong>bleated<\/strong><\/a><strong> You can find the \u201cBiden boom\u201d American workers were incredibly happy with the outcome \u201cwhether they know it or not.\u201d (Sept. 5).\u00a0<\/strong><\/p>\n<p>There\u2019s arguably no better exhibit of Krugman\u2019s asinine view of the Biden economy than Krugman talking down to Americans as if they\u2019re too stupid to see the glory of Bidenomics.<\/p>\n<p>Krugman, who was already admitting that he was wrong about inflation by this point, bravely spoke in a Sept. 5 lecture <a href=\"https:\/\/www.nytimes.com\/2022\/09\/05\/opinion\/has-bidenomics-been-good-for-workers.html\">op-ed<\/a> How \u201cthe Biden boom was and is real,\u201d but questioned, \u201chas it been good for U.S. workers? Ask many American workers, and they\u2019d probably answer in the negative. After all, hasn\u2019t inflation eaten up all their wage gains and then some?\u201d\u00a0<\/p>\n<p>But the plebeians\u2019 negativity is supposedly just based on ignorance, spewed the elitist Krugman, who has <a href=\"https:\/\/www.celebritynetworth.com\/richest-businessmen\/wall-street\/paul-krugman-net-worth\/\">$5 million in net worth<\/a>: \u201c<strong>Bidenomics has been good for American workers, whether they know it or not.<\/strong>\u201d The United States and Canada had a combined <a href=\"https:\/\/www.ilo.org\/wcmsp5\/groups\/public\/---dgreports\/---dcomm\/---publ\/documents\/publication\/wcms_862572.pdf\">3.2-percent decline in real wages<\/a> in the first half of 2022, according to the International Labor Organization\u2019s Global Wage Report released in December. [Emphasis added.]\n<p>In retrospect, the foundation for Krugman\u2019s condescending screed to Americans fell apart like a <a href=\"https:\/\/www.amazon.com\/Jenga-A2120EU4-Classic-Game\/dp\/B00ABA0ZOA\/ref=asc_df_B00ABA0ZOA\/?tag=hyprod-20&#038;linkCode=df0&#038;hvadid=198088727698&#038;hvpos=&#038;hvnetw=g&#038;hvrand=18076348755461097267&#038;hvpone=&#038;hvptwo=&#038;hvqmt=&#038;hvdev=c&#038;hvdvcmdl=&#038;hvlocint=&#038;hvlocphy=1018561&#038;hvtargid=pla-361801702205&#038;psc=1\">Jenga set<\/a>. \u201cPresident Biden has presided over a <strong>huge employment boom<\/strong> that, according to Friday\u2019s [Bureau of Labor Statistics] <a href=\"https:\/\/www.bls.gov\/news.release\/archives\/empsit_09022022.htm\">employment report<\/a>, is still in progress,\u201d Krugman wrote.\u00a0<\/p>\n<p>However, <a href=\"https:\/\/www.philadelphiafed.org\/-\/media\/frbp\/assets\/surveys-and-data\/benchmark-revisions\/early-benchmark-2022-q2-report.pdf\">Dec. 13 report<\/a> Philadelphia Federal Reserve <a href=\"https:\/\/www.newsbusters.org\/blogs\/business\/joseph-vazquez\/2022\/12\/19\/yikes-evening-nets-ignore-federal-reserve-report-showing\">blew a hole straight through<\/a> Krugman\u2019s gaslighting. The Fed&#8217;s second quarter estimate for 2022 was that there would be only <strong>Only \u201c10,500 net new jobs were added<\/strong> during the period rather than the 1,121,500 jobs estimated by the sum of the states; the U.S. [current employment statistics] estimated net growth of 1,047,000 jobs for the period.\u201d\u00a0<\/p>\n<p>That\u2019s a miss of well over 1 million. But Biden\u2019s economy was supposedly a job-making machine in 2022, according to Krugman.<\/p>\n<p>Krugman\u2019s patronizing American workers set himself up for a disastrous \u201cL\u201d The Philadelphia Fed took over three months to publish its report.<\/p>\n<p><strong>2.<\/strong> <strong>Krugman worried high \u201cgas prices\u201d were a <\/strong><a href=\"https:\/\/www.newsbusters.org\/blogs\/business\/jeffrey-clark\/2022\/10\/24\/paul-krugman-claims-gas-prices-could-doom-democracy\"><strong>major threat<\/strong><\/a><strong> To \u201cdemocracy\u201d just because they could potentially \u2026 elect GOP candidates. (Oct. 20).<\/strong><\/p>\n<p>Are high gas prices causing you to feel down? Krugman suggests that you should be more concerned about the effect these high gas prices will have on Republicans&#8217; chances of winning back control in Washington, D.C. Oh my!<\/p>\n<p>Krugman didn\u2019t beat around the bush in his Oct. 20 <a href=\"https:\/\/www.nytimes.com\/2022\/10\/20\/opinion\/will-gas-prices-doom-democracy.html\">op-ed<\/a> headlined: \u201cWill Gas Prices Doom Democracy?\u201d Krugman put selfish political agendas at the center of his propaganda regarding high gas prices.\u00a0<\/p>\n<p>\u201cWill the price of gasoline \u2014 a price that has <strong>very little to do with which party controls the government<\/strong> \u2014 nonetheless determine the outcome of the midterm elections, and quite possibly the fate of American democracy?\u201d Krugman wrote. \u201c<strong>[G]as prices may sway a crucial election, a fact that is both ludicrous and terrifying.<\/strong>\u201d Perhaps Krugman really doesn\u2019t care too much about high gas prices as long as his beloved Bidenomics continues to wreak havoc on the American economy. [Emphasis added.]\n<p>Climate Depot founder <a href=\"https:\/\/www.climatedepot.com\/about\/\">Marc Morano<\/a> <a href=\"https:\/\/www.newsbusters.org\/blogs\/business\/joseph-vazquez\/2022\/09\/20\/exclusive-critics-rip-politifact-insisting-biden-anti-oil\">told<\/a> MRC Business \u201cBiden&#8217;s policies have helped defund and spook energy projects and markets into a retracted state which created shortages leading to massive price hikes.\u201d Morano further stated that \u201c[t]he price of gas began to increase in anticipation of Biden&#8217;s anti-energy policies just before his inauguration in January 2021.\u201d Krugman says that a Republican victory would be bolstered if high gas prices were a factor. \u201cdoom democracy.\u201d<\/p>\n<p>At the time of Krugman\u2019s propaganda, <a href=\"https:\/\/www.newsbusters.org\/blogs\/business\/jeffrey-clark\/2022\/10\/24\/paul-krugman-claims-gas-prices-could-doom-democracy\">gas prices had skyrocketed 18.2 percent<\/a> Over September 2021. For Krugman, a multimillionaire who is paid handsomely to write nonsense, this statistic is meaningless. <em>The Times. <\/em>Glassdoor <a href=\"https:\/\/www.glassdoor.com\/Salary\/New-York-Times-Columnist-Salaries-E960_D_KO15,24.htm\">estimated<\/a> That&#8217;s the average \u201ctotal pay for a Columnist at New York Times is $107,657 per year.\u201d\u00a0<\/p>\n<p>Take a look at the numbers.<\/p>\n<p><strong>3.\u00a0 Krugman <\/strong><a href=\"https:\/\/www.newsbusters.org\/blogs\/business\/joseph-vazquez\/2022\/02\/14\/same-paul-krugman-who-said-he-was-wrong-inflation-now-says-40\"><strong>flailed<\/strong><\/a><strong> Inflation was at its highest point in 40 years \u201cnot a crisis\u201d February<\/strong><\/p>\n<p>In Krugman\u2019s mind, 40-year high inflation was \u201cnot a crisis.\u201d Yes, indeed.<\/p>\n<p>Krugman appeared on the Feb. 11 edition of Bloomberg TV\u2019s <a href=\"https:\/\/www.bloomberg.com\/news\/videos\/2022-02-11\/krugman-sees-no-need-for-fed-shock-therapy-video?fbclid=IwAR2d-ihs4fgIKD1gjCLJkvW9Amcl_G7ivjzmzXIdBr0puzQJWrjXI4CSI8A\"><em>Balance of Power<\/em><\/a><em> <\/em>to discuss how the Federal Reserve shouldn\u2019t use \u201cshock therapy\u201d When it comes time to finally raise funds <a href=\"https:\/\/www.bankrate.com\/banking\/federal-reserve\/fomc-meeting-recap-january-2022\/\">interest rates after keeping them at zero<\/a> While <a href=\"https:\/\/www.newsbusters.org\/blogs\/business\/jeffrey-clark\/2022\/09\/12\/johns-hopkins-economist-slams-fed-blaming-everything-under\">drastically inflating<\/a> The money supply.\u00a0<\/p>\n<p>After admitting that there was \u201cunderlying overheating\u201d Krugman spiraled into absurdity in an economy that demands the Fed raise rates consistently to combat inflation. \u201cIt\u2019s not a crisis.\u201d That\u2019s Krugman\u2019s way of characterizing <a href=\"https:\/\/www.cnn.com\/2022\/01\/11\/economy\/inflation-history\/index.html\">inflation hitting<\/a> The highest level in 40-years (7.5%) at that time.\u00a0<\/p>\n<p>But Krugman didn\u2019t stop there: <strong>\u201cI don\u2019t see any sign yet that inflation has gotten entrenched in the economy.<\/strong>\u201d America still reels from the effects of Hurricane Sandy, 10 months later. <a href=\"https:\/\/www.bls.gov\/news.release\/cpi.nr0.htm\">7.1 percent<\/a> After a catastrophic December, the December year-over-year inflation rate was disastrous. <a href=\"https:\/\/www.bls.gov\/charts\/consumer-price-index\/consumer-price-index-by-category-line-chart.htm\">9.1 percent<\/a> Summit on year-over-year rates in June<\/p>\n<p>Peterson Institute for International Economics Senior Fellow, non-resident <a href=\"https:\/\/www.piie.com\/experts\/senior-research-staff\/gary-clyde-hufbauer\">Gary Clyde Hufbauer<\/a> <a href=\"https:\/\/www.eastasiaforum.org\/2022\/12\/25\/the-travails-of-the-us-economy-roll-on-into-2023\/\">wrote<\/a> Christmas Day \u201cInflation that was initially considered transitory <strong>seemingly became entrenched<\/strong>.\u201d\u00a0<\/p>\n<p><em>Barron\u2019s<\/em> The magazine was published on November 11, 2009. <a href=\"https:\/\/www.barrons.com\/articles\/how-long-could-inflation-could-last-history-51668183193\">story<\/a> headlined: \u201cInflation Isn\u2019t Going Anywhere. History Says It Could Take a Decade to Get Back to Normal.\u201d Krugman appears to be still trapped in a bubble of delusions. Krugman would continue to <a href=\"https:\/\/www.nytimes.com\/2022\/12\/16\/opinion\/underlying-core-inflation.html\">push<\/a> in a Dec. 16 column \u2014 months after his comical Bloomberg TV appearance \u2014 that \u201c<strong>given the absence of evidence that inflation is getting entrenched, victory may be a lot closer than many people imagine<\/strong>.\u201d Yikes. [Emphasis added.]\n<p><strong>4. Krugman\u2019s solution for Democrats to \u201ccrazyproof\u201d Republicans used budget policy to raise the debt limit, and then send money from taxpayers to Ukraine.<\/strong><\/p>\n<p>Krugman, who was angered by the GOP-controlled House of Representatives&#8217; 2022 midterm elections in 2022, declared that they would somehow \u201cundermine\u201d Biden\u2019s imaginary \u201csuccessful governance\u201d The economy. Krugman resorted to his terrible ideas once more in order to fix the problem.<\/p>\n<p>Krugman had a <a href=\"https:\/\/www.newsbusters.org\/blogs\/business\/joseph-vazquez\/2022\/11\/23\/full-hot-air-paul-krugman-cries-gop-will-undermine-bidens\">few solutions<\/a> Democrats were expected to be funny in their resistance to the GOP. In a Nov. 21 <a href=\"https:\/\/www.nytimes.com\/2022\/11\/21\/opinion\/democrats-republicans-political-fight.html\">op-ed<\/a>Krugman stated that Democrats should \u201ccrazyproof\u201d policy by \u2014 wait for it \u2014 \u201craising the debt limit high enough that it won\u2019t be a problem and locking in sufficient aid for Ukraine to get through the many months of war that surely lie ahead.\u201d\u00a0<\/p>\n<p>Krugman&#8217;s opinion \u201c<strong>Democrats would be, well, crazy not to do these things as soon as possible.<\/strong>\u201d Uh, what? [Emphasis added.]\n<p>The U.S. economic situation after nearly two years of Biden\u2019s leadership is so bad that the Organization of Economic Cooperation and Development<a href=\"https:\/\/fortune.com\/2022\/11\/22\/world-energy-crisis-bad-right-now-next-winter-worse-says-oecd-new-global-outlook-bad-times-ahead\/\"> reportedly<\/a> estimated U.S GDP <a href=\"https:\/\/www.oecd.org\/economic-outlook\/november-2022\/\">growth<\/a> Only 0.5 percent will be reached next year, and only 1% in 2024.\u00a0<\/p>\n<p>But Krugman\u2019s solution for Democrats was to keep the government\u2019s spending obsession, which <a href=\"https:\/\/www.nytimes.com\/2021\/03\/25\/business\/economy\/larry-summers-federal-reserve.html\">helped spur<\/a> The inflation crisis continues like clockwork. Heritage Foundation President <a href=\"https:\/\/www.heritage.org\/staff\/kevin-roberts-phd\">Kevin Roberts<\/a> As stated in <a href=\"https:\/\/www.foxnews.com\/opinion\/republicans-must-fight-biden-trillion-dollar-spending-refusing-give-debt-limit\">op-ed<\/a> Krugman and other liberal elites must be disowned over the debt ceiling \u201cWith the Federal Reserve having \u2018bought\u2019 nearly all of the debt from Congress\u2019s new spending \u2014 that is, just printed more money like someone cheating at \u2018Monopoly\u2019 \u2014 Biden\u2019s only fiscal plan is \u2026 more spending!\u201d\u00a0<\/p>\n<p>Director, Budget and Entitlement Policy, Cato Institute <a href=\"https:\/\/www.cato.org\/people\/romina-boccia\">Romina Boccia<\/a> Written in Nov. 17 <a href=\"https:\/\/www.cato.org\/blog\/five-lame-duck-threats-avoid\">blog<\/a> That \u201c[r]aising the debt limit without first adopting a credible fiscal stabilization plan that cuts spending and controls the growth in debt would be a mistake.\u201d She continued: \u201cIt could rattle investors and worsen inflation expectations.\u201d\u00a0<\/p>\n<p>In Boccia\u2019s estimation, \u201cReaching the debt limit is an important wake\u2010\u200bup call to legislators to correct unsustainable spending.\u201d But to Krugman, spending billions of the American people\u2019s hard-earned tax dollars amidst an inflation fight is \u201ccrazyproof.\u201d<\/p>\n<p><strong><em>Conservatives are under attack<\/em><\/strong><em> <\/em><em>Contact The New York Times <a href=\"tel:800-698-4637\">800-698-4637<\/a> and demand it continue to distance itself from Krugman\u2019s awful economic takes.<\/em><\/p>\n<p>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The past year was a difficult one for wild and hot takes. The New York Times\u2019s phony economics savant Paul Krugman. It&#8217;s hard to imagine how he can still take himself seriously given his absurd record in assessing the state of the economy during President Joe Biden. Krugman used 2022 praise The inflation labor-shortage-rattled Economy &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1791157,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[5458,12628,5531,3819,4259,6044],"class_list":["post-1791154","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-bongino","tag-krugmans","tag-paul","tag-report","tag-takes","tag-worst"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1791154","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=1791154"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1791154\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1791157"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1791154"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1791154"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1791154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}