How dumb is Paul Krugman?
“People on twitter might be joking, but in all seriousness, we would see a bigger boost in spending and hence economic growth if the earthquake had done more damage.”
Putting aside that, y’know, people might have died if the earthquake had done more damage, where does the economist to the stars imagine this magical money comes from?
UPDATE: It was a hoax. It was so believable to so many because, well, Krugman has said similar things before.
Posted by Karol at 11:35 PM
[...] Krugman, muppet, from an Alarming News [...]
It’s always been an amazing thing that this man has a Nobel Prize; but then we might have to review the number of people who actually have one and don’t deserve it..let’s see..Al Gore, Yasser Arafat, Barack Obama..need we pursue that line of thought??..I can barely bring myself to read what he has to say about economics, never mind having to endure his sophistry, arrogance and pronounced ignorance on the variety of topics he actually does dip his toe into…wow…and he’s so full of himself..unbelievable…he shares that quality in common with the ruling class elitists of both parties…good luck to all of them in 2012…k
Clearly Hurricane Irene was a boon to the economy. It will help construction. And we can see this. The cost of spending money on rebuilding instead of lowering debt, or buying things we needed before is not relevant to central planners.
To liberals it’s not dumb at all. See Krugman is just cheerleading the whole “never let a crisis go to waste” strategy. In THEIR world it makes perfect sense.