Sunday, August 9, 2015

The Slipperiest Man in America?

Oh, most definitely, and here's just one instance. Mr. Krugman made this big, fat, hairy deal recently that the Austrian prediction of significant inflation (not just a debasement of the currency but price inflation) never (or at least it hasn't happened so far) occurred, and he's right about that. But what Krugman leaves out here is that he was wrong as well. You see, Mr. Krugman not only predicted no inflation, he actually predicted that there would be serious DEFLATION (https://robertmurphy.liberty.me/paul-krugman-three-wrongs-dont-make-a-right/). In fact, being that there has been SOME inflation (as opposed to the none that Krugman predicted), one could quite readily assert that Krugman's fail was even more epic and don't you just want to slap this asshole? Seriously.

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3 comments:

Jersey McJones said...

The slipperiest man? From your silly parsing he's barely a little wet. Besides, inflation has been flat for years. The Austrian model is wrong. Central banks can easily leverage interest rates to counter inflation. The problem is, if not deflation, very low inflation, which represents low growth, and here conservative economics in general are shown wrong as well.

JMJ

August 9, 2015 at 10:25 PM
Will "take no prisoners" Hart said...

No, the Keynesian model (those worshippers of inflation) is wrong in that literally every prediction that they've ever made has been wrong from the depression that never happened after WW2 to the crash and burn policies that Japan used to the ridiculous projections made by Obama. Compare this to Austrians like Ron Paul and Peter Schiff who predicted EXACTLY what happened in 2008.......And leveraging interest rates is exactly how we got into this mess; the fact that Greenspan artificially lowered interest rates and kept them there to the tune of trillions of dollars going into the housing sector when it would have been better served going elsewhere ((they call it misallocation).

August 10, 2015 at 4:26 PM
Will "take no prisoners" Hart said...

And what did I parse, Les? Krugman made a prediction that didn't come true and like the weasel that he is, never owned it (as opposed to Murphy, etc. who did).

August 10, 2015 at 4:29 PM

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