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May 10, 2011


Rob Crawford

Someone still reads Krugman?



Krugman suffers from a variation of Pauline Kael Syndrome.

Cohen the Barbarian

Hmm, the deficit under Bush was $160B and falling prior to the mortgage debacle. Nothing to do with the tax cuts of course. So much for the Reality based community.


If only the rich people hadn't stolen that $2 trillion from the government, we'd be sitting pretty right now.


Worse yet, someone still posts about Krugman.

Captain Hate

If Krugman falls over in the woods, does anybody but TM hear it?


If Krugman falls over in the woods, does anybody but TM hear it?


Thomas Collins

Well, Krugman has stumbled upon one correct statement. It is a failure of the elites, just not the ones he is talking about. It is a failure of the nanny state elites who came to power in the election of 2008.


What went wrong?

They all went to pee in some sea green soup.

Deregulation, eh? Yes, and Fannie, and Freddie, and MERS.

Paul Zrimsek

Deregulation, sure. Those stupid elites were crazy to think the economy could work without being constantly supervised by the wise... uh, elites.

Comanche Voter

Krugman is about as relevant as a 9 year old boy sitting in a mud puddle and making "mud pies". Those mud pies are clearer than his arguments.


"and MERS."

"t is an outrage and nothing short that MERS' straw officers purport to “assign the note” along with the deed of trust in many of the assignments. Since this is entirely impossible, it is also a violation of state recording laws because a false instrument has been submitted for recordation.


Tom Bowler

TM, that's an excellent synopsis of every column Krugman has written in the last ten years. A little variation in the packaging, but other than that they're all about the same. Times readers demand predictability!

East Bay Jay

When he cites a $2 trillion figure for the tax cut he's pointing the finger at the middle class. The guy with the Camry and the 1,500 sq ft suburban ranch. And since over half the country supported the Iraq War, he's fingering the populace for that too. The dumbass can't even get out of his own 'don't blame the people' column without blaming the people.


I didn't pay the $49, so I thought I would never read or hear anything about him or any of the other NY Times columnists. Maybe the Times figured out that they would make a lot more charging fifty bucks to make them go away. Where do I send my subscription?


Paul Krugman is as clueless today as he was 3 years ago. Even a first grader experiences a learning curve.
No mention at all of Frank ,Fannie Freddie who we are still bailing out to the tune of 8.2 billion. Why would we give them more money to flush down the toilet? Too Big To Fail car companies and all but Lehman's who drew the short straw.


Forgot to mention the Unstimulus Package to the tune of almost 900 billion-hence we got a huge deficit ON Obama's Watch!


Haven't read Pagar's link yet--and I will--but during Kudlow's show there was breaking news that big banks are offering a 5 bil settlement for the mess.
It was "guesstimated" that this is an initial offering and subject to negotiation.

David in Mi

Sorry to disrupt the love fest here (or hate fest if you're name is Krugman) but you reference an article from '03 that shows Krugman to have frightening ability to predict.

P1 interest rates have not skyrocketed. Swing and a miss.

P2 "the tide of red ink will keep on rising" nailed that

P4 8 years ago "the 10-year deficit will be at least $3 trillion.(vs cbo's 1.8)" Nailed that.

P7 "looming threat to the federal government's solvency." Nailed that.

p8 "because of the future liabilities of Social Security and Medicare, the true budget picture is much worse than the conventional deficit numbers suggest." Nailed that.

p10 "my prediction is that politicians will eventually be tempted to resolve the crisis the way irresponsible governments usually do: by printing money" Nailed that.

We have not seen inflation yet, but our debt is still there and our trade deficit is growing - so the temptation and consequence Krugman describes is still a possibility.

But I see your point, he only got 5/6 right, I'm sure you did better.

David in Mi

Fun factoid - on your poll numbers about opinions on income tax rates - in both cases at least some portion of those saying they were taxed too much paid no income tax. at least 1% now and 5% in '01.


Pagar, thanks for keeping your eye on MERS, etc. Always appreciate your posts.

Question is, how will a $5 billion settlement from banks make the mersed up recordation whole again for property owners.


Call these jackasses on it every time! Tax rate increases seldom increase tax revenues. The Bush rate cuts in '03 resulted in a sharp increase in revenue. Too bad W allowed spending to continue out of control so the revenue increase was masked and these jackasses get to keep lying about tax rates. Call them on it!

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It is a failure of the nanny state elites who came to power in the election of 2008.

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